KTFA Members "Sunday News" 11-1-2020

KTFA:

Samson:   Shocking numbers ... two tranches that drain 1.5 trillion dinars a month

30th October, 2020

The Parliamentary Finance Committee revealed, on Friday, large numbers of fictitious and double-tax employees who drain the state treasury an amount of 1.5 trillion dinars per month.

The committee's reporter, Ahmed Al-Saffar, told Shafaq News Agency, that "the space employees and double salaries, according to government estimates, number 150,000," pointing out that "these work in ministries, government departments and state institutions in general." "These aliens and double salaries are costing the state up to one trillion and 500 billion dinars a month," he added.

Al-Saffar called on the government to "rely on the use of electronic programs and biometric statistics to detect these and recover the money that was disbursed to the state treasury."

Al-Saffar said, "The aliens and double-salaries cost the state budget huge sums amounting to a quarter of the public expenditures in the monthly operating budget that is spent as salaries for employees, retirees and social welfare."

Iraq has been suffering from a stifling financial crisis since the beginning of this year due to a significant decline in oil prices, as the government struggles to secure employee salaries, which amount to about $ 4 billion.  

The number of employees in Iraq has increased at a tremendous rate since the overthrow of the former regime, as the number currently swallows 6.5 million employees, up from 850,000 before 2003. Observers say that the widespread cronyism and corruption in Iraq were behind the skyrocketing number of employees in the country until the state became unable to secure their salaries.  LINK

DeepWoodz:  Imo....this is the main source of the lag in paying salaries. The corruption in Iraq has had 17 years to only get worse and worse. If I was Kadhimi, I would not pay salaries at all until each position was verified as legitimate. Same goes for retirements and martyrs. 

Maybe that’s what’s happening. Parliament sure gets worked up about it and I think because they are the cause of most of it. Even so, I don’t think they will have most of this sorted till long after the rate changes. 

Samson:  Deputy: Big paradoxes in the government's borrowing request and the actual sums it needs

09:03 - 01/11/2020

The deputy of the coalition of Iraqis, Asaad Yassin, confirmed that there are great paradoxes in the government's borrowing request and the actual amounts it needs, pointing out that the government bears the parliament the mistakes it commits, which is something that cannot be accepted.

Yassin said to / the information /, that "the estimates of the Parliamentary Finance Committee regarding salaries and necessary expenditures confirm the need for Iraq to 5-6 trillion dinars, while the government is demanding access to more than 40 trillion dinars."

He added that "Iraq needs more than 15 trillion only during the remaining three months of this year, and therefore there are many question marks about the government's request for this amount."

And that "the government is procrastinating and concluding in the file of the financial crisis and the sums it needs, as it holds the House of Representatives the results of its mistakes, which is unacceptable as it must not demand large sums other than what it needs according to the law." 

LINK

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Samson:  An Iraqi ministry returns 9 billion dinars to the state treasury from double wages

31st October, 2020
A parliamentary committee announced, on Saturday, that the Ministry of Labor and Social Affairs will return 9 billion Iraqi dinars to the state treasury from double wages and employees.

A member of the Parliamentary Work Committee, Fadel Al-Fatlawi, told Shafaq News, "The ministry continues the process of recovering money and returning it to the state treasury by revealing the fictitious names, double salaries, and employees who receive social aid salaries."

Al-Fatlawi added, "Most of the employees who receive the salaries of social assistance are the category of contracts and wages, given that most of them have not received their salaries from the ministries and departments in which they work for months due to the failure to pass the General Budget Law.

Al-Fatlawi stated, "The Ministry of Labor has taken legal measures against violators to recover the money and return it to the state treasury," stressing that "the ministry was able to return more than 9 billion dinars to the treasury from double salaries and employees." LINK

Samson:  The integrity of the Kurdistan Region recovers more than 11 billion dinars for the public treasury

1st November 2020

The Integrity Commission in the Kurdistan Region announced on Sunday that it had recovered more than 11 billion dinars for the public treasury, noting that this amount is government loans that have not been paid by companies operating in Sulaymaniyah Governorate.

In a statement received by Shafaq News Agency, the authority said that after the follow-up of the Sulaymaniyah Investigation Directorate for corporate loans, it recovered an amount (11,121,991,800) to the public treasury.

The spokesman for the Kurdistan Regional Government, Jotiar Adel, said last May that, according to the decisions issued by Prime Minister Masrour Barzani, the government will not condone anyone who owes financial debts to the government and citizens, and that it is going to recover it.   LINK

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Samson:  Ex-Nineveh governor arrested as Iraqi government reins in corruption
27th October, 2020

Iraq’s anti-corruption commission announced last week that it had arrested the former governor of Nineveh province, Nawfel Akoub, who was accused of embezzling millions of dollars from government coffers, including aid for people displaced by the Islamic State.

Akoub’s case highlights the efforts of Iraqi Prime Minister Mustafa al-Kadhimi to rein in corruption amid resistance from entrenched parties and elites, popular street demonstrations and violence from foreign-backed militias.  “The only way to tackle corruption in Iraq is by scratching the surface,” said Michael Knights, a senior fellow at the Washington Institute for Near East Policy. “There is no silver bullet. You can be doing the most that is possible to do and you’re still just scratching the surface.” A major boat accident near Mosul is what initially sank Akoub. In March of 2019, a ferryboat capsized in the Tigris River that killed more than 100 people. As the governor of the region, Akoub was accused of negligence. A request by then-Prime Minister Adel Abdul Mahdi to immediately dismiss the governor was approved by Iraq’s parliament. 

Akoub was eventually slapped with US sanctions last year on corruption charges. He escaped to the semi-autonomous northern Kurdistan region, where he lived as a fugitive. In March 2020, the Iraqi judiciary demanded that authorities in the region arrest the former governor. Akoub was arrested in Mosul while paying bail for another case. Akoub and other officials were charged with misappropriating about $64 million of public funds. That money was meant for reconstruction of his former province, which had been left in ruins by more than two years of Islamic State rule, followed by fierce fighting with Iraqi-led forces to retake the area. Part of the money was allocated to rebuild two hospitals in Mosul as well as to support people who had lost their homes in the conflict. 

Corruption is rampant across the country. Iraq ranks among the world’s worst offenders when it comes to corruption, according to Transparency International’s annual Corruption Perception Index.  Since 2003, the year the US-led invasion ousted Saddam Hussein, tens of billions of dollars of public funds have reportedly gone missing.

In October 2019, as corruption and other allegations of government mismanagement boiled over, tens of thousands of Iraqis marched in Baghdad and other cities to protest the country’s rampant misdealings, unemployment and poor services. More than 500 people were killed during the demonstrations, which lasted for months.  Since his appointment in May, Iraqi Prime Minister Mustafa al-Kadhimi seemed focused on gutting the system. The former journalist and political activist rode into office as a supporter of the protesters' demands and has  pressured institutions to rein in corruption, oftentimes by purging those in power.

In July, Kadhimi sent federal forces to replace senior officials at key border ports. This included replacing eight customs officials at Basra’s Umm Qasr Port, an important checkpoint for the oil industry. The group was replaced with a garrison that rotates every few weeks so that it doesn’t set roots and become easy to manipulate.  One month later, Kadhimi formed a special committee, reporting directly to his office, to investigate cases of corruption and exceptional crimes.  In September, three senior Iraqi financial officials were arrested on corruption charges, including Bahaa Abdul-Hussein, the director of the Qi Card company. With branches across the country, the company is responsible for distributing salaries to employees and retirees. In recent years, the company has been accused of mismanaging salary and pension distributions.  Also arrested were Agricultural Bank Director Adel Khadr and the head of Baghdad’s Investment Commission, Shaker al-Zamili.

The idea of tackling corruption by going after selected big players such as Akoub and senior customs and government officials could be seen as an attempt to make sure that everyone else operates more carefully. But critics of Kadhimi’s efforts say the prime minister has provided no road map or clear path for fighting systemic corruption. As one source told Al-Monitor, forming a special task force is nothing significant in Iraq because the country has a committee for everything.

Others accuse the prime minister of playing it safe by only targeting individuals who lack significant political backing or hold ties to armed militias. To enforce corruption successfully, the source said, Kadhimi needs a blanket approach that hits all sectors equally.  And time is running out. On Sunday, the protests reignited as thousands again took to Iraq's streets to mark one year since the mass anti-government protests began. 

There is also the possibility that Kadhimi will not remain prime minister after the country goes to an early vote, possibly in 2021; he is not directly elected by the Iraqi people, but rather by the parliament. Many lawmakers may not like the anti-corruption efforts that have often targeted their circles.  “This sort of stuff has to be persistently kept up or it doesn’t become permanent,” Knights said. “

And it’s very uncertain whether Kadhimi will still be there by the second half of 2022 and so his guys are focusing on doing as much as they can as quick as they can and hoping that it will set in motion momentum that will keep going even if they are not reappointed.”  LINK

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Don961:  Report: The White Paper Affirms That Iraq Needs A Change In Its Economic Policy

The Iraqi economy is floundering in an actual bind

On November 1, 2020

The Independent / - The Iraqi economy is floundering in an actual deadlock, amid warnings of facing bankruptcy, while taking any reform measures means imposing a harsh reality on the majority of citizens.

A press report titled "The White Paper: When Structural Adjustment Knocks the Door of Iraq," and the Independent continued on Sunday, reviewed the possible results of some of the measures recommended by the White Paper, including reducing the salaries of employees and reducing the value of the national currency.

The report, published by the "Washington" Institute for Studies, is likely that the options proposed by the White Paper will face "political resistance" and "popular discontent."

Next is the text of the report

The Iraqi government recently issued a white paper detailing economic and financial reforms aimed at pulling the country out of its current economic woes. The Economic Reform White Paper - developed by the Emergency Cell for Financial and Economic Reform, set up in May to manage the country's economic reforms - generally proposes reforms that are in line with the requirements of the World Bank and the International Monetary Fund for developing countries. While experts agree that these draconian measures are necessary, they will be difficult to implement and will likely encounter objection from the Iraqi people.

By issuing the White Paper, the current Iraqi government took a new and unusual step in the country's political history. Half of the detailed 96-page document is a diagnosis of Iraq's economic problems and their roots. As the Iraqi Deputy Prime Minister and Finance Minister Ali Allawi tweeted on October 18, “The reform paper diagnosed with a scientific and objective vision the economic and financial problems that pose real challenges that can be overcome by a strategic planning method based on an objective analysis of reality and extracting strategic goals as urgent priorities.”

By detailing the roots of these economic and financial crises, the White Paper brings the current crisis gripping the country back to the 1970s. The report describes how for half a century the state has relied on the country's growing oil revenues only to "expand the public sector" and "directly and indirectly control the economy." During this period, Iraq witnessed the emergence of a rentier state. These problems continued during the 21st century due to the CPA's failure to implement “shock therapy” programs, leaving the country vulnerable to economic and financial systems characterized by a controlled economy, a rentier state, a ruling sectarian system, and a high degree of state intervention in the joints of the country.

In response to the country's turbulent economic past, the White Paper aims to establish a balance in the Iraqi economy by allowing the state to diversify it while creating economic opportunities for citizens. The necessity for diversification is justified by relying on the International Monetary Fund's report for the year 2019, which warned that “in the absence of any changes to the policy, the growing budget deficit will neutralize resources from essential investments to rebuild the country and improve public services, while undermining reserves and posing risks Threatening sustainability in the medium term. However, the objectives outlined in the paper cannot be easily achieved since implementing reforms will require drastic measures.

In 2003, Ali Allawi, who was then the Minister of Trade in the Provisional Government and who is considered the architect of the current White Paper, stated that “We suffered because of socialist and Marxist economic theories and then cronyism. Now we are faced with the possibility of applying free market fundamentalism. ” This type of fundamentalism is clearly evident in the white paper. Its recommendations are very similar to the structural adjustment programs that the International Monetary Fund and the World Bank impose on low and middle income countries. These programs often force governments to reduce government expenditures on basic needs such as education, health care, the environment and subsidize the prices of basic commodities such as food grains. In addition, these programs oblige governments to devalue their national currencies and increase exports, which leads to a decline in actual wages and support for export-oriented foreign investments. It is assumed that all these changes will take place in a free and open financial market.

However, implementing such policy changes will likely be difficult in Iraq. In this case, halving the wage rate, cessation of subsidies, devaluation and borrowing are the main pillars of the white paper. But none of these missions will be simple and many will not gain popular support.

With regard to borrowing, the Iraqi government is seeking to borrow $ 35 billion to finance its operations. But the Iraqi parliament does not allow the government to borrow from abroad, so domestic borrowing is the only option. But in a country torn apart by war, domestic sources of funding are scant. 

Likewise, improving efficiency and spending in Iraq's public sectors - particularly through devaluation and cutting subsidies - will not be easy. For example, electricity, one of the most prominent areas of public spending in Iraq, is a complex economic, technical and geopolitical problem in the country. The IMF report 19/248 had “recommended that priority spending measures should be given to contain the growth in wages and reduce subsidies given to the electricity sector.”

However, these measures are inconsistent with existing practices. In Iraq, there is a presumption that the state will provide and support energy resources.

As former Iraqi Electricity Minister Luay Al-Khatib said: “The electricity sector in Iraq suffers from a set of problems. The country's complex bureaucracy often impedes progress by focusing on ineffective, short-term, technical solutions rather than longer-term macro-institutional reforms. There is also a chronic deficit in managing fuel raw materials, coinciding with a deficit in managing other energy portfolios and the broader business value chain. The sector is vulnerable to the conflicting agendas of a large group of Iraqi political actors that prevent the development of a unified national vision for its management, which plunges the sector into mismanagement and renders corruption rampant in it.

Given the complex nature of these problems in Iraq, these reforms are likely to encounter political resistance. The White Paper was released at a time when Iraqis are discussing the process and results of the general elections scheduled for next year in June 2021. At such a time, it is difficult to expect any political bloc to publicly adhere to similar harsh measures suggested by the White Paper. Critics also point out that it is not the caretaker government's duty to institute medium-term economic reforms that will continue until 2023, that is, during the years of the next government's term.

Most of these measures will likely not be supported by the Iraqi people. Focusing on wage cuts is a double-edged sword, as public sector salaries are the only part of government expenditures that end up in the local market and are traded among small and medium-sized companies. Thus, it is an important benefit to the common people. The Iraqi government should proceed with a gradual and cautious reduction of public sector wages; Cutting wages by half and devaluing the Iraqi currency will be the cause of widespread poverty, a problem that basically paralyzes the country.

Moreover, devaluation of the Iraqi currency may be difficult in the current global economy. From the point of view of the state, it is logical to suggest a devaluation of the Iraqi dinar. Allawi had hinted that a weaker dinar might enhance the competitiveness of Iraqi goods, thus providing support for sectors such as agriculture and industry. In this context, Allawi pointed out that “all countries that export to Iraq, such as Turkey, Iran, China and Saudi Arabia, have devalued their currencies. We cannot compete if we keep the value of the dinar constant and stable.

However, the devaluation of the dinar will help improve Iraqi exports only if it falls to a level even lower than the currencies of trading partners, which are already low. The Iranian rial fell against the dollar, and the Turkish lira is following a similar descending path. A devaluation of the dinar below these currencies would be bad and possibly dangerous.

Accordingly, the Iraqi economy is in real trouble: Experts have warned that Iraq will face bankruptcy in the absence of any drastic steps, but similar steps are likely to result in great suffering for the majority of the Iraqi people. Critics stressed that the country should focus on cutting its large security and defense budget.

The security problems in Iraq also represent a dilemma. In regions experiencing unrest, the Iraqi government is employing young people in the security sectors as a way to secure jobs for them, which further inflates the security budget. Those working in the security sector do not contribute to the economy, while the enormous jobs in this sector constitute an incubating environment for corruption, "ghost" employees, and double wages. In the case of the Popular Mobilization Forces, which are allocated $ 2 billion in the annual budget, their security contribution is conditional.

In light of allocating a total annual budget of $ 8 billion to the Ministry of Defense, critics considered that this sector also needs reform, especially since the injection of funds to overcome the country's security challenges - a method favored by politicians around the world - did not contribute to solving security problems. Iraqi.

Finally, the White Paper is an indication that Iraq needs a radical change not only in its economic policy but also in other areas of governance. While all Iraqis theoretically agree on the need for change, very few agree on the practical nature of what change should be. Despite this, the country has no easy choice, even if its various parties can agree on a way to achieve this. It is unlikely that the price of oil will increase anytime soon, and thus the budget problems are unlikely to be solved. Since the current bleak outlooks have convinced the Iraqi political class of the need to support the White Paper, much will depend on government decisions in managing its implementation.  LINK

Samson:  Iraq intends to import robots to combat explosives

11/01/2020 08:30:06

The General Directorate of Explosives Control at the Ministry of Interior has held talks with a European country to supply it with modern equipment.

The Director General of the Directorate, Major General Sabah Hassan Al-Shibli, said in a press statement that "the discussions included providing the Directorate with robotic devices to combat explosives with the latest available ones in the developed countries of the world," noting "its contribution to maintaining security and stability in the country."

He promised his directorate, which was established in 2005 and affiliated to the Ministry's Agency for Police Affairs, "an important detail in the ministry, as it was established in a simple way to expand after that," indicating that "the directorate was activated after the occupation of ISIS criminal gangs in a number of provinces years ago, similar to the rest of the other security joints." 

Al-Shibli added, "The focus of its work in the fight against terrorism has focused on dismantling the booby-trapped wheels, the role and the foreign bodies in addition to the explosive devices."   LINK

Delta and KTFA Members Saturday 10-31-2020

KTFA:

DELTA:   Central Bank of Iraq launches electronic platform for letters of guarantee

DELTA: WHEN CBI TALK WE LISTEN…..VERY IMPORTATNT STEP.....BEFORE GOING GLOBAL......IMO…..THEY ALSO HAVE AN INSTRUCTION VIDEO FROM CBI ON HOW TO USE IT….

"650 instead of 850 dinars" Oil: The decision to reduce the price of improved gasoline will be implemented at the beginning of next month… Central Bank of Iraq: Issues an explanation about its relationship with the salaries of state employees. Bank spokesman Isser Jassim "There is no connection between the central bank and the salaries of the employees,"  the "salaries" file is a purely governmental matter and is in its own hands."  "The bank's currency is not related to salaries and the financial relationship between the government and the bank is to supply it with dinars exclusively," he said.

DELTA: ALSO .......THEY DID REPORT IN IRAQIA TV THAT WHITE PAPER WAS DONE BY US ......... AND THEY SAID BY US HELPING IRAQ WILL MAKE INTERNATIONAL COMMUNITY SUPPORT IRAQ……SO AS WE TOLD YOU IN THE PAST THE US DEVALUE THE IQD AND THEY WILL RI BACK FOR IRAQ……
CBI TOLD US VIA NEW GOV ....HE IS GOING TO MAKE NATIONAL CURRENCY STRONGER....... 
DELTA

Clare:  POSTING FOR FRANK

Western sources:
IRAN sent a message to US, through a 3rd party, offering PEACE negotiations with ISRAEL, that could include Iraq and Lebanon

Iran's suggestion: Lifting of sanctions in exchange of recognition of pre-1967 Israel

No response from US to Iran yet, as per sources

— Mudar Zahran مضر زهران (@Mudar_Zahran) October 30, 2020

Kiowa:  I believe Frank told us to look for this...

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Samson:  A Former Deputy Accuses Al-Halbousi Of Stealing 800 Billion Dinars

31st October 2020

Former member of Parliament, Ali Al-Sajari, accused Parliament Speaker Muhammad al-Halbousi of stealing 800 million dinars from the reconstruction funds for Anbar.

Al-Sajri said in a tweet on Twitter, "Al-Ajji brags to our people in Anbar that he is the leader of the reconstruction campaign, and we do not deny the paving and enlightening of the streets, the middle carrots and the dyeing of the sidewalks."

He added, "The question is that all these actions do not cost more than two hundred billion to implement Korean companies." He asked, "Where are the remaining trillion dinars that the governorate received in 2019." "It means 800 billion thefts," he said.   LINK

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Samson:  Iraq's oil exports to America exceed 3 million barrels within a month

31st October, 2020

The US Energy Information Administration announced, on Saturday, that Iraq's exports of crude oil to America amounted to 3 million 618 thousand barrels during the month of October

According to a management schedule reviewed by Al-Iqtisad News, "Iraq exported crude oil to America during the first week of October, 343 thousand barrels, at a rate of 49 thousand barrels per day, while one million and 798 thousand barrels were exported in the second week, at a rate of 114 thousand barrels per day, while A quantity of one million and 337 thousand barrels was exported in the third week, "noting that" the fourth week witnessed the export of 679 thousand barrels at a rate of 97 thousand barrels per day

The American Personnel Information Administration stated that "Iraq came in sixth place after Canada, Mexico, Saudi Arabia, Ecuador and Colombia, and the second place in the Arab world after Saudi Arabia, whose exports to America during the month of October reached 9 million and 485 thousand barrels," indicating that "Canada came first as the most countries. An oil exporter to America, followed by Mexico

It indicated that "Iraqi exports for the month of October increased from the previous month of September, in which exports reached 3 million and 17 thousand barrels

America is the world's largest consumer of oil, as it ranked first, with a consumption amounting to 19.4 million barrels per day, which constitutes 19.7% of global consumption  LINK

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Economist: The White Paper Will Not Cover Expenses And Salaries Because Corruption Is Greater Than It

31st October, 2020
An economic situation hangs over Iraq that is considered very bad in the current year.

One of the government proposals headed by Mustafa Al-Kazemi was to present the proposal of a "white paper" as a plan for economic reform in Iraq to include "hundreds of measures to revive the economy", and to invest "the country's vast resources" in the "scientific way."

As for the spokesman for the Iraqi Prime Minister Ahmed Mulla Talal, he says that the white paper “will consist of 100 pages, and the period of implementation is supposed to be (3-5) years, which will push the country towards the better and achieve greater investment opportunities." And the economist, Majid Al-Suri, speaks to Al-Mustaqila and says that the governments that have succeeded in running the country since 2003 came with many economic mistakes that in turn led to what we are.

Al-Suri comments on the "white paper" that it stresses the issue of rationalizing government spending and restructuring the construction of salaries.

And he added, "No matter how expanded the revenues, they will not be able to cover operational expenditures, which they consider to be the biggest corruption in the country." Applied.  LINK

Samson: Electricity supply in Iraq is threatened to stop at any moment

31st October 2020

The Parliamentary Energy Committee revealed, on Saturday, a danger lurking in the electrical energy in Iraq, as the transformers are subject to sudden and emergency breakdowns, in exchange for not allocating any money for maintenance

Committee member Sadiq Al-Sulaiti explained in a press interview, "The government prepared a budget of 57 trillion and 811 billion Iraqi dinars for four months, with a financial deficit of 41 trillion, to be paid by borrowing, adding to it revenues estimated at 16 trillion dinars," indicating that "the prepared budget has not been allocated one dinar to maintain the electricity stations, which will remain vulnerable to emergency breakdowns

Al-Sulaiti added that “the schedule allocated by the Ministry of Finance for the Fiscal Deficit Law included amounts for importing electric power as well as sums to buy energy from investors in Rumaila and Basmajah stations and the rest of the stations in very high amounts that overburdened the state and its budget, indicating that the finance allocated five trillions and a half trillion dinars to import and buy gas Most of the neighboring countries are entitled to dues for the years 2019/2020, meaning that the Ministry of Electricity will not benefit from them because most of them will go to the investors of the power stations

Al-Sulaiti called on the government and the Ministry of Finance to “amend this paragraph and allocate funds to the Ministry of Oil classified under the heading Maintenance and operation of power stations, especially diesel units whose cost of operation and maintenance is lower and gives higher generation for the purpose of increasing production capacity during peak periods in summer and winter, noting that the generation joint the diesel stations, whose stations are spread throughout the geographical area of ​​the country in the south and the center and in the northern regions, have not received full attention, as despite their scarcity they give very good efficiency and are cheaper after the hydroelectric stations and compete with gas stations in their need for maintenance and fuel as they work with heavy fuel (HFO), which is the cheapest fuel and available in quantities Too big in the oil ministry

Scandalous electricity secrets

Yesterday, a report of the Board of Financial Supervision broke into the loopholes contained in contracts for the purchase and supply of electricity with different countries and companies in Iraq

Car company contract to supply Nineveh ... subject to a 6-fold high price

The report shows that “the Ministry of Electricity bore the bills for transporting fuel from the refineries to the stations, which were provided by the Car Company. The energy cost of this company is considered the highest price, as it ranged between (193 to 264) dollars per megawatt hour, while the megawatt hour is purchased from the rest of the stations at a price ranging between (32 to 47) dollars, and the Ministry of Electricity was not committed to re-negotiating with the company to reduce the energy price, contrary to the decision of the Council of Ministers issued on 4/22/2019, and fuel prices were (6) times the energy purchase price, and the amount of fuel needed for operation has not been determined, which allowed the company Equipped with quantification

Iranian Tafanir Company (Iranian Line

The ministry has concluded several contracts since 2006 with the company, and the price of energy purchase is based on the monthly price of oil within the OPEC basket, so that the price is not less than (55) dollars in the event of a decrease in oil prices and not more than (100) dollars in the event of high prices and the cost of energy imported from the company is For the period from (2017 to 2019), at $ 1.441 billion

The amount of energy purchase is sufficient to develop the stations and prevent imports ... and the Ministry "refuses"

According to the report, the Ministry ignored the study submitted by the Department of Energy Production in (2018) which showed that in the event that the Ministry provided an amount for the purchase of equipment and maintenance of national stations at a value of (4.435) billion dollars and transferred it to work from the simple cycle to the combined cycle, it will produce more energy than the imported energy. And purchased from investment stations at a rate of (5806) megawatts, in addition to reducing the consumption of fuel used in the stations and preserving the environment, noting that this amount is spent only once, while an amount of (3.337) billion dollars is disbursed annually, which can be increased for the benefit of investment stations and neighboring countries, knowing that it reached Ministry allocations during the year (2019) amount (13.375) trillion dinars

Refusing a cheap national contract and choosing a foreigner is 7 times more expensive

The report indicated that the ministry also ignored the study submitted by one of its departments to convert the stations (Shatt al-Arab, Rumaila and Amara) to operate in the combined cycle at a cost of $ (1.325) billion within (15) years, and it contracted with investors for those stations for a period of 15 years at a value of (9,826) One billion dollars, 7 times more than the national effort

Neglecting the Nasiriyah station and choosing to buy energy from the stations that are doubly expensive

The national thermal stations suffer from negligence and lack of maintenance, as some of them have not been maintained since 2002, such as the Nasiriyah Thermal Station, which needs $ 200 million to be rehabilitated according to the Ministry’s opinion. The cost of producing a megawatt hour from that station is $ 15, while the cost of buying it ranged. From investment terminals from (32 to 264) dollars

The Ministry of Electricity bore the costs of fuel spent by companies and the electric energy bills used by companies within their production units, while the report also showed the decrease in the energy produced from the national effort during the last three years in exchange for increased purchases from investors

The bureau recommended resorting to rehabilitating thermal stations and the national effort instead of contracting with investors for long periods as it leads to the depletion of state resources  LINK

Samson: Representatives Assert ... There Is No Problem With Dissolving Parliament And Setting The Date For Elections

31st October, 2020

Although the Iraqi parliament passed the elections law in its final form, in accordance with the multi-district system, and its readiness to discuss the Federal Court bill, in preparation for holding early elections scheduled for June 6, 2021, the debate returns to dissolving parliament, which is one of the most important issues that early elections cannot take place without it.

While MPs talk about the absence of a problem with dissolving parliament, others see that this is not possible, in the event that the fugitive weapon continues to exist outside the framework of the state. According to Article 64 of the Iraqi constitution, the parliament has the ability to dissolve itself based on a request from one-third of its members, or from the prime minister with the approval of the president of the republic, provided that the request is not submitted during the prime minister's questioning period. 

After the parliament is dissolved, the president of the republic calls for general elections in the country within a maximum period of 60 days. In this case, the government is considered resigned, and it is only conducting business.

Al-Dahlaki confirmed that Parliament will dissolve itself two months before the elections: 

In this context, the representative of the "Iraqi Forces Alliance" Raad Al-Dahlaki confirmed that Parliament will dissolve itself two months before the elections. In an interview with Al-Araby Al-Jadeed, he considered that Parliament could have procrastinated the election law had it not wanted to hold early elections.

 He pointed out that there is one issue that may prevent parliament from being dissolved, and that is the inability to control uncontrolled weapons, which exacerbates the risk of dissolving the legislative authority without guarantees for holding elections far from the influence of weapons. He continued, "Therefore, there will be discussions and pauses on this point specifically to prevent the rise of the armed forces to the helm of government," warning of the consequences of managing matters by the forces of non-state. He explained that Parliament will dissolve itself after the Electoral Commission confirms its ability to hold elections at an agreed date, in addition to completing important procedures for the electoral process, such as preparing biometric voting and preparing voter registers, and clearly defining electoral districts.

Another deputy told Al-Araby Al-Jadeed that dissolving parliament itself is the last step before the elections, indicating the need to complete other necessary procedures before that, such as passing the election laws and the Federal Court and creating technical measures. He indicated that parliament cannot dissolve itself unless it is assured that a vacuum will not arise during the two months preceding the elections, as the state will remain in a state of “legislative vacuum”.

 He stressed that the government is required to control everything that would disturb the electoral atmosphere, foremost of which is the presence of armed arms for some parties, which will definitely affect the election results, especially in villages and remote areas far from control. He pointed out that most parliamentary blocs have no objection to the issue of dissolving the parliament itself, as this represents a popular demand, "but that does not mean that there is no pressure towards providing a safe environment before the electoral process takes place."

Al-Ziyadi stressed the need to provide all appropriate conditions for holding elections: 

In a speech marking the first anniversary of the start of the October protests in Iraq, Prime Minister Mustafa Al-Kazemi pledged that the early elections would be fair and fair, explaining that his government would protect them from fraud and the influence of fugitive weapons, by following legal means and tight security plans. He pointed out that there are efforts for international organizations to monitor the Iraqi elections, to ensure more transparency and integrity. Last August, the spokesman for the Prime Minister, Ahmed Mulla Talal, confirmed that the government is seeking to conduct the electoral process away from political money and fugitive weapons. He pointed out that setting the date for early elections came after extensive study, in response to the popular will and the desire of the religious authority in Najaf.

Badr Al-Ziyadi, a member of parliament for the "Sairoun" coalition, explained that the House of Representatives will dissolve itself two months before the actual date for the elections, which is determined by agreement between the government, the election commission and the parliament.

 In an interview with Al-Araby Al-Jadeed, he stressed the need to provide all appropriate conditions for holding elections. He pointed out that completing the election law is a step on the way to holding early elections, as well as voting on the Federal Court law, with the aim of playing its role. "The parliament has no problem solving itself," he added. We will be with our people, and we are ready to do so, but after preparing things, so that no vacuum remains after the parliament itself is dissolved. And Deputy Amer Al-Fayez stressed, earlier, the need for important steps to be taken before Parliament dissolves itself, warning against calling for the dissolution of Parliament before completing those steps. "In the event that parliament dissolves itself, then the current government (headed by Al-Kazemi) will turn into a caretaker government, which means restricting its powers in combating corruption and retribution against the killers of demonstrators, as well as its inability to implement many of the paragraphs it included in its government program," he said. 

It is noteworthy that early elections were one of the main demands of the wave of popular protests that began in Iraq more than a year ago.  LINK

Delta, MilitiaMan and KTFA Members Friday Afternoon 10-30-2020 "$3.22"

KTFA:

DELTA:  THESE ARE MESSAGES FROM IRAQI SOCIAL MEDIA TO THE NEW CBI GOV..........

"We hope that the value of Iraqi cash will be strengthened and that we can eliminate the zeros and return in a strong currency not necessarily at its previous value, but it will counter the dollar and compete with it... Actively spare and loyal employees of the Central Bank and the Ministry of Finance"..............

 MORE THAN A THOUSAND MESSAGES TO THE CBI TO RAISE THE VALUE AND COMPETE WITH THE DOLLAR....

مع العودة لتداول العملة المعدنية الصغيرة ،مثل باق الدول، للحفاظ على حقوق الناس في البيع والشراء،

with a return to the circulation of small coins, such as the rest of the countries, to preserve people's rights to buy and sell,

متى ما أزيلت الأصفار من العملة المحلية سيزول معها الفقر والديون وربى القروض الحرام حينها سوف ترجع قيمة الدينار العراقي الواحد إلى ما يعادل 3.3778 دولار كما في فترة 1971 و 1973 مثلما تفضلتم في هذا المنشور

Once the zeros are removed from the local currency, poverty and debt will be eliminated and the mortgage stake is lifted. Then the value of the Iraqi dinar will return to the equivalent of $3.3778 as in 1971 and 1973, as you would have preferred in this publication.

لماذا لا يوجد فئات صغيرة معدنية كبقية دول العالم

Why aren't there small metal categories like the rest of the world?

DELTA: THAT WAS JUST A FEW FROM THOUSANDS OF MESSAGES TO NEW CBI GOV......ALL ASKING THE SAME... RAISE THE VALUE AND COME OUT WITH NEW LDS........... OVER A WEEK OR SO AND IT'S NOT STOPPING…

 THEY WANT THE CBI TO TAKE THEM BACK TO 3.22………..
DELTA

Samson:  The Egyptian Prime Minister arrives in Baghdad tomorrow to sign "important agreements"

10/30/2020 09:44:50

The joint Iraqi-Egyptian Higher Committee will meet in Baghdad tomorrow, Saturday, to discuss ways of joint cooperation between the two countries, and in implementation of the outcomes of the tripartite summit that was held between the leaders of Egypt, Iraq and Jordan two months ago.

Last August, the Jordanian capital, Amman, witnessed a tripartite summit that brought together Jordan's King Abdullah II, President Abdel Fattah Al-Sisi, and Iraqi Prime Minister Mustafa Al-Kazemi.  Foreign Minister Fouad Hussein also met his Egyptian counterpart Sameh Shoukry in Cairo this month, and participated in the "tripartite mechanism between Egypt, Iraq and Jordan" meeting at the level of foreign ministers. 

The Egyptian Prime Minister, Mostafa Madbouly, will preside over the work of the High Committee between Egypt and Iraq tomorrow, Saturday, in the capital, on a high-level visit to Iraq. 

The meetings of the Supreme Committee between the two countries will deal with "discussing and reviewing a number of proposed cooperation projects in various sectors, and agreeing to start their implementation during the next stage." The meetings of experts from the Iraqi and Egyptian sides began Wednesday  in Baghdad, in preparation for the work of the ministerial preparatory session to be held today, Friday, headed by Minister of Trade Alaa Al-Jubouri and Rania Al-Mashat, Minister of International Cooperation on the Egyptian side, and then the final work of the Egyptian-Iraqi Joint Higher Committee, headed by the prime ministers of the two countries, tomorrow is Saturday.  The official page of the Egyptian Cabinet on Facebook said yesterday, "Experts from both sides are working, during the meetings on Wednesday and Thursday, to agree on the final drafts of the ready documents, to sign at the conclusion of the work of the Supreme Committee."

It is noteworthy that "the agreement establishing the joint higher committee between the two countries was signed in July 1988" and the joint Egyptian-Iraqi Higher Committee represents an important mechanism of Egyptian economic diplomacy, to coordinate the frameworks of international cooperation with Iraq.

According to the official page of the Egyptian government, yesterday, it is "intended to sign a number of important documents between Egypt and Iraq, during the meeting of the Joint Higher Committee headed by the prime ministers of the two countries, in several vital sectors, including air transport, maritime transport, taxes, industry, and health." Justice, housing, construction and building, environmental protection, and other important agreements."

Earlier last month, the Egyptian Minister of International Cooperation had met with the Iraqi ambassador in Cairo and her permanent representative to the League of Arab States, Ahmed Nayef Rashid al-Dulaimi, to discuss arrangements for the convening of the Egyptian-Iraqi Joint Higher Committee.

 She emphasized during the meeting, "the depth of Egyptian-Iraqi relations, and the Egyptian government looks forward to developing these relations in various aspects of economic cooperation between the two countries."  LINK

MilitiaMan:  Sounds like what was once evaporated between the Tripartite is now to be reinvigorated. It is about the next stage. The international stage Iraq is opening up into. With that comes  Capital Inflows. Which sounds to be like there has or will be energy deals plus much more that require hard currency with strength to it. The IQD at the moment as we know is at a program rate, that doesn't fit the mold. Is that  about to change, the citizens surely think so. I see this meeting as very timely and very well placed. Take into consideration what is in the FA thread I mentioned earlier and notice the time frames there and above. They seem to fit like a glove. Imo We are in a very good place. Lets see what the days bring us.. Imo ~ MM

Don961:  Iraq is the missing ingredient in America's strategy in the Middle East

- 8 Hours Elapsed

A report published by the American newspaper Foreign Policy (FOREIGHN POLICY) considered that the violent reaction against "eternal wars" is not an excuse for the United States to abandon Iraq. Their participation in wars should not be measured by the number of forces.

The report criticized Baghdad's absence from the recent US election debate in the context of important foreign policy issues, as well as the US role in the wider Middle East.

And he considered that the status of the United States in the world has increased greatly during the past 17 years through its presence in Iraq, especially after former US President George W. Bush launched wars in both Afghanistan and Iraq and took decisions that made these wars endless.

Although his successor, President Barack Obama, was keen to put in place a program to bring back the forces as most of the soldiers had been withdrawn by December 2011, in 2014 US forces returned to Iraq to fight ISIS.

According to the report, the United States is seeking to withdraw its forces again, reducing their number from 5,200 to 3,000 by the end of this year.

Regardless of who wins the presidential elections next week, it is unlikely that the number of American soldiers in Iraq will increase unless there is a major development that threatens to destabilize the region.

Demonstration in Tahrir Square in Baghdad has been going on for a year to demand political and economic reforms (Reuters) for good reasons, and the newspaper seemed to urge the United States to stay in Iraq, due to the reasons it described as "rightful", most notably its participation in borders with Iran, Jordan, Kuwait, Saudi Arabia, Syria and Turkey. 

Moreover, Baghdad possesses one of the world's largest reserves of oil, the free flow of which will be essential for global economic growth in the coming years.

The report said that there are many Iraqis believe that Washington can help them to change years of instability, internal conflict and corruption. He considered that the United States was able to provide political and economic support to influence Baghdad to move towards political pluralism and liberal market policies.

Al Jazeera  LINK

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Samson:  For the first time, the launch of a shipping line between Iraq and Gulf countries

10/30/2020 14:25:18

 The Ministry of Transport, the General Company for Iraqi Ports, announced the launch of a new shipping line between the ports of the Sultanate of Oman and Basra, specifically the northern port of Umm Qasr, through the Philippine company operating Berth 20 Iraq Gate, which was inaugurated for the first time between the two countries.

A statement of the ministry, a copy of which was received by the Al Furat News Agency, quoted the general manager of the company, Farhan Muheisen Al-Fartousi, as saying that “and in implementation of the Minister of Transport’s directives to work on a policy of openness to companies and customers and to provide the best port and logistical services, the Sultanate of Oman-Iraq line has been launched.”

Al-Fartousi stated that "the Omani-Iraqi line started with a successful experiment, at the rate of one trip per week, transporting 100 containers and exporting loads of Iraqi dates and leather," noting that "the second flight came with a load of 500 containers, as the financial returns of this line increased to 125 million dinars, which makes it one of the lines." Promising and fruitful navigation. "

For his part, the director of the northern port of Umm Qasr, Farzdaq Abdul Razzaq, said that "the new shipping line worked to attract the Basra Gate Terminal Company, which operates Berth 20 in cooperation with Iraqi ports," indicating that "the shipping and logistical services that we are working to provide at the docks of the northern port of Umm Qasr were A major reason for the demand for promising shipping lines to our ports, which is increasing significantly."

It is noteworthy that the ports of Iraq launched the maritime shipping line for the first time between the ports of the Sultanate of Oman and the northern port of Umm Qasr, at the rate of one trip per week.

LINK

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Samson:  The United States imposes new sanctions on entities and individuals linked to Iran

10/29/2020

Today, Thursday, the US Treasury Department said that the country's authorities have imposed new sanctions on entities and individuals linked to Iran and the agency "Reuters" indicated that some of the punishing entities are located in China and Singapore

The ministry said it had identified 8 entities that participated in the sale and purchase of Iranian petrochemical products

The US Treasury imposed new sanctions on Iran last week, affecting Tehran's ambassador in Baghdad, Irj Masjedi, and several Iranian entities, which Washington accused of interfering in the elections

Earlier, US intelligence accused Iran of interfering in the upcoming US elections with the aim of destabilizing the United States and preventing Donald Trump from being re-elected as president

LINK

MilitiaMan:  Mahdi was on watch... Hence the USA knows the money trail.. imo K(azimi)  won't be apart of that nor will the new CBI Governor.. imo.. ~ MM "These funds were sent to China and from there to Iran."

Don961:  Iraq's economy is under pressure from corruption and unemployment, so what do international institutions say?

- 19 Hours Elapsed

The Iraqi economy faces a number of challenges, starting from the deteriorating security situation in the country and the significant decline in oil prices, to geopolitical tensions and social unrest in the context of poor public services and the lack of progress in combating rampant corruption, not to mention the widespread poverty and unemployment among the population. Reconstruction after many years of wars, and a faltering economic recovery that faces today the repercussions of the painful Corona crisis.

In this report, we monitor the vision of major international institutions for the economy of the state of Mesopotamia, the first civilizational and commercial centers in the world, before successive regimes that caused the depletion of Iraq and put its people in the cycle of poverty and unemployment for decades to come. Achieving peace, stability and better living standards for its citizens and a return to past growth rates. Its reports also suggested strategic paths through which Iraq could free itself from the fragile reality it lives today.

The World Bank

The World Bank says that Iraq today stands at a crossroads. Almost two decades after the 2003 war, the country is still stuck in a fragile reality, and faces increasing political instability, mounting social unrest, and an increasingly deep gap between state and citizen. And in the midst of a number of crises; Including falling oil prices, the Corona pandemic, and recent protests. This is in addition to the accumulation of the effects of weak economic policies, the absence of reforms, and the inability to address corruption. Iraq is now experiencing its worst annual GDP growth performance in 2020 since the fall of Saddam Hussein's regime. Instability, lack of employment opportunities, corruption and poor service delivery remain among the most important risks to the country's long-term growth.

The bank expected that the Iraqi economy would contract in 2020 due to the drop in oil prices and the outbreak of the Covid-19 pandemic. As a result, the double deficit is likely to increase, reflecting the downward trend of public debt and adding pressure on the exchange rate and central bank reserves.

The World Bank pointed out in its report that weak oil prices, lack of budget flexibility, as well as curtailing programs that encourage growth and slow implementation of structural reforms, all of which pose major risks facing the country's economic prospects, and constitute an obstacle to enhancing human capital formation and job creation.

He added that, in light of this multi-faceted crisis, the growth rate in Iraq is expected to contract by 9.5 percent during 2020, which is the worst annual performance since 2003. As the oil GDP records a 12 percent contraction amid the constraints of the OPEC-producer agreement. From abroad, to reduce production, while the non-oil GDP shrinks by 5 percent due to the impact of the service sectors with measures to limit the spread of the pandemic, especially the very important religious tourism sector.

The report indicated that the weak domestic demand and the depreciation of the Iranian and Turkish currencies against the Iraqi dinar led to curbing the rate of inflation, indicating that the overall and base inflation rate did not register an increase of only 0.4% and 0.7% during the first seven months of 2020 on an annual basis. .

The bank said that the future prospects for Iraq are characterized by a high degree of fragility and depend on the development of global oil markets, the ability of the Iraqi health care system to respond to this pandemic, and the reform process.

Despite the bleak picture drawn by the bank, it gave a glimmer of hope by saying that if conditions improve, the growth rate is expected to gradually return to between 2.0 and 7.3 percent between 2021 and 2022 with the expectation of a recovery in the non-oil economy. To score an average of 4 percent in the same period. The recovery in domestic demand is expected to increase the rate of inflation by an annual average of 2 percent over the same period.

In April, the World Bank announced its readiness to support Iraq and restructure the loans granted, in a way that would contribute to protecting vulnerable segments of society.

The Resident Representative of the World Bank in Iraq, Ramzi Numan, said during a meeting with the Iraqi Minister of Planning, Nuri al-Dulaimi, that the World Bank seeks to provide an integrated vision to address the future repercussions that will result from the Corona crisis, including the high rates of poverty and unemployment as a result of the economic downturn, the decline in growth rates, and the decline in gross domestic product. .

He indicated that the World Bank is ready to provide possible support and restructure the loans granted to Iraq, in a way that contributes to protecting vulnerable segments of society, indicating that 11 Iraqi governorates are included in the Social Fund for Development project that supports the Iraqi government's strategic plans to alleviate poverty.

Monetary Fund

The International Monetary Fund believes that the end of the war against ISIS and the overcoming of long-standing socio-economic problems, and linking this to a strong return of oil prices, may all constitute an opportunity to rebuild Iraq, which according to the Fund faces enormous challenges.

The Fund stated that the wheel of economic recovery in Iraq is still moving at a slow pace, and reconstruction projects are very limited, after the war has ended, while large current spending strengthens the risks that threaten the Iraqi economy, which puts public funds and the reserves of the Central Bank on a path that cannot be supported Its continuity. The report, issued in 2019, stressed the importance of combating corruption in order to enhance the effectiveness of public institutions, and to support investment efforts and job creation on the part of the private sector.

In the financial sector, the Fund called on the Iraqi government to create a strong plan to restructure the large public sector banks, and the associated strengthening of banking supervision, which he said has become a necessity to ensure financial stability, and also called for strengthening financial development and inclusion, and establishing stronger controls to combat Money laundering and terrorist financing, and strengthening oversight operations, which helps Iraq prevent abuse of the country's financial sector for the purposes of reaping criminal proceeds from money laundering and terrorist financing.

The Fund believes that addressing weak governance and the weaknesses through which corruption is spread is a very important factor in achieving the goals. As a first step, the Fund urged the Iraqi authorities to develop a holistic understanding of corruption risks in the country, and then work to implement policies to eliminate these risks in a coherent and coordinated manner.

He stressed the need to strengthen the legislative framework in order to effectively prevent officials from misusing their positions, or misusing state resources. To this end, the fund proposed to expedite the passage of laws that enhance the enforcement of the financial disclosure system, criminalize illicit gain, the need to ensure the independence and integrity of the bodies working in the field of anti-corruption, and the necessity to activate the anti-money laundering and terrorist financing system to support anti-corruption efforts.

Transparency International

As for Transparency International, it focused in its report on the widespread unemployment among Iraqi youth, the decline in freedoms, including media freedoms, and the dominance of sectarian groups in the country, which reinforced societal division.

The organization said that the high rates of youth unemployment and the meager reform efforts were the reason behind the descent of thousands of Iraqi youths to the streets in early October of last year. Horrific scenes of violent repression ensued, as security forces used live ammunition against crowds of peaceful protesters, killing more than 100 and wounding thousands.

The organization’s report, issued last year, said that sectarian groups in the country have dominated politics in Iraq since the US overthrew Saddam Hussein in 2003. The entrenched power between these groups has divided the population and created space for political parties to control more areas of life, which affects In everything from job opportunities to distributing government contracts, the country is fertile ground for corruption.

The organization indicated the closure of the US-backed Al Hurra channel last September after it published reports of rampant corruption among sectarian groups. The Iraqi government called for respecting basic rights and freedoms, such as freedom of assembly, protest and expression, and called on it to support Iraq’s struggle against corruption.

International Finance Corporation

Iraq is one of the priorities of the International Finance Corporation in the Middle East. The corporation has funded about 10 projects in the country covering telecommunications, industry, water and hotels, among other sectors. It is also studying more investment opportunities in the energy and manufacturing sectors. The investments of the International Finance Corporation have grown significantly over the past nine years, as the corporation has invested $ 1.5 billion in Iraq, the amount includes joint investments with other parties, and its current project portfolio is $ 330 million. These projects focus particularly on improving access to critical infrastructure and supporting the manufacturing sector.

The International Finance Corporation, a member of the World Bank Group, said that years of war and lack of investment have crippled Iraq's energy infrastructure, which led to frequent power outages and stifled economic growth. She spoke about the country's public sector's lack of the necessary resources to finance the reconstruction.

The corporation had also provided a financing package of $ 375 million to the Iraqi private energy company, Mass Global Energy, Sulaimaniyah, in a step towards strengthening the energy infrastructure in the region and its residents.

Adequacy of Ollier

Arabic Independent  link

MilitiaMan Thursday Evening "Looks Promising to Me" 10-29-2020

KTFA:

MilitiaMan:  Most all of this below can be found in the Final Article thread .  I suggest a quick review of this post and the links provided will set the stage for a view that Iraq has been internationally accepted to come into the world markets with the international support from the largest financial players in the world with digital technology and it's ability's to communicate and trade. E- Commerce and E-Government will go hand in hand with E-Payments. 

Be careful when thinking that the first reading of the 2020 borrowing law was just recently read for the first time. It was read for the first time on 06/24/2020, per linked article.

The second reading (they suggest is the first)  is dated 10/24/2020. That is 4 months later. See text data and links below. 

The third reading time was said to be done this past Tuesday and was postponed until this past Wednesday and was not done to today, as today is a holiday.

Tomorrow is a holy day and Saturday are banking days off, imo. Sunday is the next banking day. That is very powerful, as the sensitive numbers need to be held to the last moment, imo..

The data below supports that they are now ready to pay salaries, late as they said they would be. The sensitive numbers the IMF talks about are needed to be exposed first for the payments for October, November and December to be voted on in respect to the borrowing law.

It is a new law with regard to a new rate, imo. Time is near from all the support your about to go over will show. I sure hope this helps..

It sure looks promising to me from here on out.. I am looking forward to the next few days to see what they do.. imo ~ MM

"On June 24, the Iraqi Parliament approved a new law authorizing the government to borrow from domestic and international lenders to cover the financial deficit resulting from the decline in oil revenue. The legislation authorizes Finance Minister Ali Allawi to borrow up to ID 15 trillion (approximately $12 billion) domestically and $5 billion internationally on the condition that at least 15% of all loans are invested into development projects in Iraq, prioritizing provinces that received lower funding levels in the past. The bill also allows the government to continue to seek loans to finance development projects approved under previous national budgets. The new law also says the Cabinet must provide Parliament with its plan for economic reforms within 60 days."

https://enablingpeace.org/ishm260/#Headline1

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"A representative source said in an interview with "Mawazine News", "The House of Representatives has completed the first reading of the draft law on financing the fiscal deficit."

The government had sent to the House of Representatives a draft law to finance the budget deficit, requesting borrowing to finance salaries and government expenditures."  LINK

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"Regarding what is being raised about the existence of an expected change in the exchange rate, the minister stressed that "changing the exchange rate of the dinar against the dollar must be done in agreement with the Central Bank and the International Monetary Fund. Presenting numbers is currently a sensitive issue. Reducing the value of the dinar will have positives and negatives and will help us financially in the first period."     LINK

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

"The Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Makhaif, held this Tuesday a series of meetings with a group of large German banks, and the meetings discussed investment and work opportunities with Iraqi banks, which met a high response from German banks,"

“Allawi confirmed, after his participation in the tour of Prime Minister Mustafa Al-Kazemi to a number of European countries, that the White Paper received absolute support from industrialized countries and international organizations for the first time.”

The statement added that “international support and welcoming the white paper is an achievement of the Ministry of Finance,”

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

Al-Kazemi referred to "the Iraqi government's serious endeavor to achieve economic reform, and to make Iraq an attractive environment for investment, through international cooperation with its partners in the world," stressing that "the opportunity is available for British companies to invest in Iraq, and the government's keenness to provide appropriate environments for work."link

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

 coalition that includes 7 foreign and Iraqi financial institutions, to provide advice to the Iraqi government to face the stifling financial crisis that led to the state’s inability to commit to paying employees’ salaries on time and resort to internal and external borrowing

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

 News", the financial alliance provides global expertise to achieve economic growth and provide international expertise from the public and private sectors to enhance economic stability in Iraq and introduce vital economic changes in order to push the wheel of growth

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

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

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

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"Al-Kazemi: Iraq plans to maximize investment opportunities and provide suitable climates for companies

We remember as we stand today at the threshold of a country befitting and befitting the Iraqis, and I mean a nation that we build together through economic reform, eliminating corruption and restoring the prestige of the state,"  LINK

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Parliamentary Committee: The Mineral Investment Law is ready for voting

Committee member Yahya Al-Ithawi said, according to the official agency, that "the mineral investment law is ready for voting, and it is expected to pass it during the coming sessions," expressing his hope that "the instructions that will be issued for this law will encourage investment inside Iraq."

He added, "There are many details in this law, and we want it to be promulgated in a good manner, without loopholes, to prevent the corrupt from entering through it." LINK

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Communications stresses its need for World Bank support in policy-making and training expertise

"Today, Wednesday, the Ministry of Communications affirmed its need to support the World Bank in the field of policy-making and to provide expertise and training for Iraqi engineers and technicians in the ministry in the field of electronic digital transformation.

The statement continued that “an economist in digital aspects from Washington, Jerome Pezzina and Marula Haddad, a specialist in digital infrastructure and the World Bank’s coordinator for the communications sector in Iraq, expressed the World Bank’s desire to support the Iraqi government's efforts to shift towards e-government and open prospects for joint cooperation with the Ministry of Communications, which is located. It undertakes the implementation of the government program for the electronic digital transformation of the ministries and institutions of the Iraqi state."

--------------

"In pursuit of implementing its strategy of shifting towards electronic payment, the Central Bank of Iraq confirms that banks that issue electronic cards and providers of electronic payment services have adopted the service of financial transfers between electronic cards (from one card to another), provided that the transfer ceiling for one time does not exceed (400) thousand dinars or equivalent. In US dollars, while the limits of the amounts transferred during one month will reach (2) million dinars or its equivalent in US dollars. The Central Bank of Iraq information Office October 28, 2020"

https://cbi.iq/news/view/1588

Some Iraq News Posted by Samson Thursday 10-29-2020

KTFA:

Samson:  The official working hours will be suspended tomorrow (today), Thursday, on the occasion of the Prophet’s birthday

28th October, 2020

The General Secretariat of the Council of Ministers announced, on Wednesday, that the official working hours will be suspended tomorrow, Thursday, on the occasion of the birth of the Prophet

The secretariat said in a statement that "it has been decided to suspend the official working hours for tomorrow, Thursday, on the occasion of the Prophet’s birthday

She added that "the holiday is included in the list of annual official holidays and does not need to be announced  LINK

Samson:  After A High-Ranking Officer Has Been Involved In Corruption ... The Minister Of Interior Cancels Out An Entire Directorate Of The Ministry's Owners

29th October, 2020

The Minister of Interior canceled the Directorate of Internal Affairs and Security on Wednesday, after revealing the involvement of a brigade officer in a corruption case.

A source said in an interview with one of the agencies that "Interior Minister Othman Al-Ghanmi canceled the people of the Personnel Security Directorate (Internal Affairs and Security) in the Intelligence Agency after it was proven that an officer with the rank of Major General in the Personnel Security Directorate was involved in the manifestations and forms of corruption."

The source, who declined to be named, explained that “based on what came in the book of the Chairman of the Parliamentary Integrity Committee.   LINK

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Samson:  Kurdistan Investment: We made a mistake by relying on oil and we have a plan to cure the "economic disease"

29th October, 2020

Muhammad Shukri, head of the Investment Authority in the Kurdistan Region, acknowledged the mistake of relying on the oil export sector to finance the region's budget and neglecting other sectors, pointing to a new plan to maximize non-oil resources and revitalize the private sector.

Shukry responded to a question asked by Shafaq News Agency, regarding the regional government's plans to diversify sources of income and develop sectors other than oil, saying, “We have fallen into the same mistake that is committed in all oil-dependent countries that only depend on the oil sector and marginalize and neglect other sectors and that is why you see their economy It is good when oil prices rise and deteriorate with lower oil prices. "

He pointed out that "the Kurdistan Regional Government, in its ninth formation, has set a focal point and essential in its government program, which is not to rely solely on oil, but to pay attention to other sectors and work to employ citizens in the private sector to keep the region from this economic disease."

He added, "We have announced investment plans to diversify the economy and sources of income, especially agriculture, because we have an atmosphere and agricultural lands in the region and after that comes industry, in addition to that the Kurdistan Region is also a suitable place for the establishment of tourism projects and we are now in the process of building various industrial zones to lay industrial foundations and through industry, interest in products. Agricultural."

The President of the Kurdistan Region Investment Authority stated that "from August of 2019 until August 2020 we granted the license to 60 investment projects at a sum of one and a half billion US dollars and this is a good amount, but not at the level of our ambition because our ambitions are greater, especially after providing more facilities to investors and we have an intention to accelerate the pace Granting licenses, and this is under the direction of the Prime Minister who ordered the elimination of red tape in government institutions, and we implement this directive. He revealed "plans to grant 100 licenses in the industrial sector to local investors whose projects were postponed during the past two years and did not obtain a license," pointing out that "this is to expedite the start of their industrial projects and to be supportive of the region's economy and industry."

Regarding the interest in infrastructure projects in the field of roads and transportation, Shukry said that "in the new formation of the regional government there is great interest in infrastructure projects, and undoubtedly among the government's plans to build a group of dams to produce electricity and also to build large irrigation projects on it in the future and also to store water for future use." Pointing out that "the regional government is working seriously to extend the railway line as well as extend a commercial line, so that in the future it will be a key factor to connect the Kurdistan Region with Iraq and other countries to facilitate commercial movement and other countries to facilitate commercial traffic while extending the highway." And he stated that "if we develop the industrial, agricultural and tourism sectors then we need to pay special attention to roads and work is currently underway on these projects and in the near future it will be a reality."

On the impact of the Corona pandemic on the plans and projects of the Investment Authority, he said, "The Corona pandemic has stopped some work, but with this we have tried to skip this stage as well."

LINK

Samson:  Iraq is cursed with its wealth .. so what to do? The World Bank answers

29th October, 2020

Two experts at the World Bank warned that Iraq is afflicted with a double curse through a mixture of government corruption and a sick private sector.

In a report by the American Brookings Institution, translated by Shafaq News, the two economists at the World Bank, Bledy Chiliku and Wael Mansour, said that the resource curse refers to countries rich in their resources in obtaining the benefits of their national wealth. “Countries cursed by their resources” tend to fall into conflict, corruption and economic turmoil.

The experts pointed out that in such countries, competition diminishes when the real exchange rate increases, governments adopt repeated fiscal policies, reliance on commodities expands, and exposure to external shocks increases.  And they considered that there may be curses less destructive than the mixture of the corrupt government and the sick private sector, and unfortunately, Iraq is completely connected to this curse, as a recent report showed. 

The "Brookings" report stated that the oil wealth of Iraq has allowed it to be in a position to achieve income at a high - medium level, but its institutions and the socio-economic results that it records indicate a low and fragile country.  He pointed to growth being driven by oil production and associated investment, not by productivity. The educational system, which was once at the top of the ranks at the Arab level, is now placed at the bottom of the list.

Iraq has one of the lowest rates of female participation in the workforce in the world, while the unemployment rate among young people is 36 percent, suffers from deteriorating infrastructure and working conditions, and ranks one of the poorest ranks among the high-middle economies. The recent conflicts have had a significant economic cost, as the level of GDP in 2018 was 20 percent lower, due to the ISIS war. 

Nearly two decades after the 2003 war, Iraq is still caught in the trap of fragility and facing increasing political and social unrest. Amid multiple crises, including the oil shock and the Covid-19 epidemic, in addition to the results of poor economic policies, and the inability to address corruption, Iraq is now facing the worst performance in its annual growth in 2020 since the fall of Saddam Hussein. 

The two experts at the World Bank considered that there is a consensus that sustainable growth, job creation and improvement of the standard of living for Iraqis all require peace and stability, reducing dependence on oil and directing the state towards a market in which it relies more on the private sector, strengthening regional integration, and improving the general management of oil revenues. 

While these goals remain in place from a technical point of view, successive attempts to achieve them by the government and donors have remained elusive. "We believe, mainly, that this is because the reform programs in Iraq are prepared outside a strong political framework," the two economists said. 

The two experts believed that in order to understand the fragility, violence and limited development, careful analysis of the country's political system, the nature of the social contract and social divisions in society is required.  They suggested that the best way to do this is through an analytical framework that looks at three competing levels: between political elites, between state and society, and between social groups. Applying this framework to fragile states suffering from conflict and violence helps them understand why reforms have not gone wrong. 

As for Iraq, these three levels have turned violent in recent history. Conflict erupted over competition for power and resources. And Iraqi elites have exploited ethno-sectarian divisions in their quest for power. Also, large foreign interventions reinforced these lines of division and turned Iraq into a field for greater geopolitical competition. 

In addition, the heavy dependence on oil has strengthened conflicts at all levels, exacerbated competition among elites, and undermined the principle of holding the state accountable for its responsibilities to the people. Also, the oil wealth reduced the incentives to collect other types of income for the government, especially from taxes. This, in turn, weakened the need for the principle of compromise - accountability between the state and society, which forms the basis and essence of state building processes. 

While 64 percent of Iraqis say the country is divided, the political balance will become more fragile in the coming years in light of the available demographic data. In Iraq, one of the largest proportions of youth in the world, and a regional gap in terms of poverty rates and service provision. Homogeneity and social trust are low in the areas liberated from ISIS, while poverty rates are greater in the south, despite the fact that it pumps most of the oil wealth. 

In conclusion, the two economists asked what could be done at the level of change in thinking, and indicated three aspects: a policy refocusing that includes all social groups, re-working the social contract in a way that enhances confidence, and a review of the economic model to be more diversified. 

Progress in Iraq will be elusive unless the political elite stimulates change through an alliance between elites and people, and this country has a common political vision that recognizes the need for a system that provides development for all Iraqis.

For the sake of the social contract, there is a need to build trust between citizens and the government, strengthen institutions, strengthen citizens' involvement in infrastructure and services, and find the way for an investment climate that creates jobs for young people. There is a need to invest in people first, to develop infrastructure and strengthen institutions in providing social services to citizens, and to organize the macro-economy and the work of the private business sector.   LInk

Delta, MilitiaMan and KTFA Members Wednesday PM 10-18-2020

KTFA:

DELTA:  THANK YOU SAMSON FOR YOUR AMAZING HARD WORK..........CAN YOU SAY DELETING ZEROS.....ELECTRONICALLY ..........

Samson:  The central bank enables direct transfer of funds between electronic cards

28th October, 2020

In pursuit of implementing its strategy of shifting towards electronic payment, the Central Bank of Iraq confirms that banks that issue electronic cards and providers of electronic payment services have adopted the service of financial transfers between electronic cards (from one card to another), provided that the transfer ceiling for one time does not exceed (400) thousand dinars or equivalent. In US dollars, while the limits of the amounts transferred during one month will reach (2) million dinars or its equivalent in US dollars.

The Central Bank of Iraq
Media Office
October 28, 2020  

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

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

2020-10-27 Yes Iraq – Baghdad

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

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

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

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

 >>>>>>>>>>>>

@SalamSmeasim لا اتوقع ان يقوم #العراق بطباعة العملة العراقية #بدون_غطاء لان الامر سيكون ضربة قاضية لل #دينارالعراقي و هذا امر مرفوض وفق ارتباطاتنا ب #صندوق_النقد_الدولي ولان #الدينار_العراقي الان ضمن العملات المطروحة في البورصات العالمية و ليس كوقت الحصار ، الوضع مختلف تماما.

Translated from Arabic by

I do not expect it to be #العراق By printing the Iraqi currency #بدون_غطاء Because it would be a fatal blow to the #دينارالعراقي And this is unacceptable according to our links to #صندوق_النقد_الدولي And Lan #الدينار_العراقي
Now within the currencies

offered on the global stock exchanges,  (now, imo ~!MM) not like the time of the blockade, the situation is completely different.
>>>>>>>>>>>>
 
Sumaisem suggested, in her blog post about currency printing, saying: In light of the current economic variables, I do not expect Iraq to print the Iraqi currency without a cover, because the matter will be a fatal blow to the Iraqi dinar.

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

MilitiaMan:  The above depicts that there was a mention of the cover and offer in exchange markets. They are now even being suggested again, as noted above to now be openly and notoriously exposed, as being Globally traded (latent as it may be). 

 Suggesting with out a reduction in the exchange rate (reduction of zeros), the process will not succeed, yet they are behind the scenes now offering the Dinar on global stock exchanges, different than before.. 

When it was mentioned on this past 25th, it may have not grabbed as much attention to many, as it may now or even just for today. But, be sure it was noticed and the good expert sees fit to reiterate it with a gusto.. lol .. imo..

The latent behavior is allowed imo, when the numbers are sensitive in nature leading to the end result of an exchange rate change. IMF allowed? Yep, imo. Which is not a devaluation, it is a re-instatement to the past and even possibly the Glory Days.. imo. ~ MM 

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A video of the Central Bank of counting and sorting the Iraqi currency and destroying it

20th October, 2020   VIDEO LINK

MilitiaMan:  Why destroy currency if the new currency wasn't to be worth more? You don't. They already printed new small category notes that will need to be covered by value. imo. Hence they are still sorting and even destroying the old or future obsolete notes. New notes to coincide with the old are already in print, the rate to establish the foundation of future trading globally is at hand.. imo. 10/25/2020 ~ MM (edit)

Samson:  Representative Finance: The borrowing to secure salaries will be internal

18:22 - 10/28/2020

The Parliamentary Finance Committee confirmed, on Wednesday, that borrowing will be internally from government banks and the Central Bank, attributing the matter to the existence of foreign debts on Iraq and its inability to borrow.

A member of the Parliamentary Finance Committee, Jamal Joker, said to / the information / the committee hosted today the advanced cadre of the Ministry of Finance, including the minister, to view the details of the loan amount and the actual disbursement doors for those required numbers.

He added that "after its amendment, Parliament will proceed to approve the law on the loan, but with an internal loan," noting that "the approval will be preceded by an inquiry from government banks and the Central Bank of Iraq, the possibility of borrowing and securing those sums or not."

Cougar explained that "Iraq cannot borrow abroad because it has large debts, which will push it to internal borrowing."  LINK

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Samson:  Trump: 10 Arab Countries Are Going To Normalize

28th October, 2020

US President Donald Trump announced that about nine or ten other Arab countries are ready for normalization with Israel, without revealing a specific timetable.

Trump told reporters, referring to the Arab world: “We will have a lot. We are doing a lot of work now.”

He added, “Beauty is peace in the Middle East, without money or blood. There is no blood on the sand, and this happens.

It is noteworthy that Israel recently signed a historic peace agreement with the UAE and two normalization agreements with Bahrain and Sudan, in the first diplomatic development between Israel and the Arab countries since the peace agreement with Jordan 26 years ago.   LINK

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Samson:  Turkey is drowning in "debt chaos" ... and a record number for bankrupt companies

28th October, 2020

The indicators of the collapse of the Turkish economy did not stop when the local currency declined to its worst level, as it appears that the country's foreign office has reached unprecedented levels, while more than 10 thousand companies have closed their doors since the beginning of this year.

The Turkish "Zaman" newspaper reported that Turkey's foreign debts rose to 1.9 trillion pounds during the 18 years of justice and development rule, after it was estimated at 243 billion pounds only in 2002, when the party took over the rule of Turkey. Among these debts are 817.9 billion liras in the Turkish lira category and 1 trillion and 44 billion liras in the foreign currency category. What is striking in the report prepared by the opposition Republican People's Party is the insane borrowing of the AKP government, as the report reflects the high ratio of public debt to national income to 42 percent.

As of September of this year, the public debt reached 1 trillion and 863 billion liras, of which 1 trillion and 44 billion liras are in the foreign currency category, which represents 56 percent of the total debt. The report added that the Turkish government borrowed nearly half a trillion pounds during the first nine months of this year, indicating that Turkey's public debt amounted to 7 times what it was during the 18 years of justice and development rule. These negative results led to severe criticism against the Turkish treasury minister, and President Recep Tayyip Erdogan's son-in-law, Berat Albayrak, who said that he does not care about the foreign currency index against the lira, “Turkey’s debts are increasing with the currency index increasing.

According to the Turkish Treasury and Finance Ministry, a total of Turkey's external debt is $ 421.8 billion this year, while its net debt reached $ 244.4 billion, or about one trillion Turkish liras. The Turkish lira had achieved the worst level, Tuesday, since 1999, reaching 8.13 against the US dollar. In the same context, the number of companies that were liquidated during the first nine months of this year in Turkey broke the record by exceeding the number of 10,000 companies, and last September alone it closed 1582 companies.

According to the Turkish Federation of Chambers and Exchanges, 10 thousand 453 companies closed in the first nine months of 2020, while the number of companies that closed in the first nine months of last year was 9,385, indicating an increase of 11 percent from last year. Turkish companies face great challenges in light of the grinding economic crisis that the country is going through nearly two years ago, and what made their situation more severe is the crisis of the Coronavirus epidemic, so the last resort for them was to reschedule their debts in an attempt to escape from bankruptcy.

In Turkey, the number of companies that closed steadily has increased since 2015. It is noteworthy that 1808 out of 10,000 453 companies closed in the period from January to September were joint-stock companies. Among the joint-stock companies, most of them were involved in the electric power production sector, residential and non-residential building construction, and technical consulting for engineering activities.

 Recently, the weekly report of the Banking Sector Regulatory and Supervision Committee revealed that the value of receivables owed by companies in Turkey as of October 9 increased to 132 billion and 207 million Turkish liras, while the previous week was only 131 billion and 322 million. Economists predict that the coming period will witness more companies announcing their inability to pay their scheduled debts in light of the turmoil of the lira's exchange rate against foreign currencies. 

Despite resorting to the option of rescheduling debts, through a request for “bankruptcy settlement”, a number of companies declared their inability to repay debts even after they were scheduled.  LINK

Frank26 and Delta Video Tuesday Night 10-27-2020

KTFA:

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

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

This video is in Frank’s opinion only

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

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

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

FAB4 - IMF / WORLD BANK / UST / DJT

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

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

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

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

GREEN IS FOR GREEN ZONE TONIGHT FRANK SAID

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

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

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

2020-10-27  Yes Iraq - Baghdad

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

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

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

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

 >>>>>>>>>>>>

salam smeasim @SalamSmeasim

Translated from Arabic by

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

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

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

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

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

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

KTFA:

KTFA MONDAY NIGHT CC YOUTUBE WITH THE IQD UPDATE

Frank26 and Team

720.716.7300 PIN: 156996#

 PLAYBACK IS: 605.313.5163 PIN: 156996#

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

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

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

26th October, 2020

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

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

Catastrophic effects

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

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

Financial benefits

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

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

Spending shrinkage

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

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

26th October, 2020

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

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

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

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

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

26th October, 2020

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

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

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

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

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

26th October, 2020

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

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

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

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

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

"Speech from Mustafa Al-Kazemi" Saturday 10-24-2020

KTFA:

MilitiaMan:  I suggest everyone read this close. It has phenomenal implications and historic vision! – MM

Don961:  Text of the speech of Prime Minister Mustafa Al-Kazemi

Saturday 24 October 2020  Baghdad / morning 

In the name of of Allah the Merciful    

 The great people of Iraq are people of magnanimity, patience and elevation   People of construction, achievement and civilization     Peace, mercy and blessings of God

 We commemorate the 25th of October, to remind ourselves that the people have genuine rights, a clear voice, a courageous attitude, and a vision, and that the ruler's job is to listen to the voice of his people.

 On this day a year ago, the people of Iraq had a cry and prayers, embodied in the faces of young men and women, women and men, the elderly and even children! Those who recorded their names on the chest of history, and carved with their pure blood a path towards the future. 

We can know that historical moment, in all available ways, and we can strive, but in the end, we will reach one conclusion, that the Iraqi social movement has drawn up a road map that was recognized by everyone, and we are proceeding with it according to its vocabulary. 

This government has been formed and aims to be the expression of the people's will.

This was in its governmental curriculum.

This curriculum was put into effect since the first day of the government’s life, which does not exceed five months, and the first criterion we put in place is that we are a government whose primary goal is to prepare for free, fair and fair elections, and we have determined, without hesitation, the sixth of June 2021. A date for these elections, and we are sticking to this date.

We have worked and are still working, with the assistance of the Electoral Commission, to complete its preparations for the success of this great event, especially in the event of the completion of the distinguished parliament - the mechanisms of the election law.

We are working to ensure that international organizations and institutions monitor these elections to ensure greater transparency and integrity.   

 The will for political change is, in fact, expressed by the ballot box.

There is no legitimate political representation except through elections, so everyone must prepare for it, and we ensure that it is protected from fraud and fugitive weapons, with all legal means and methods, and well-designed security plans, and through the adoption of the biometric system for voting, and bridging all the gaps in the system and technologies. The electoral process, and before all that, opened the door for all, political and popular forces, to express themselves, organize their ranks, and compete in the electoral competition with honor and responsibility, and within the legal and constitutional context. 

 We said we kept the promise. We promised to launch a fact-finding system in the painful October events, and we did, despite the suspicions of some bidders, and sometimes the challenges of blackmailers, here or there.

We have formed a fact-finding team of judges known for their integrity, and this is the third and final stage, after the stage of collecting and enumerating the names of martyrs and settling their cases.

And then the stage of collecting and counting the wounded, and starting their treatment inside and outside Iraq, according to meals and according to health priorities.   

 On the economic side, despite the crisis caused by the Corona pandemic, the collapse of oil prices, and we received an economic file burdened with wrong and painful policies, and a treasury emptied by the absence of economic strategies, and total dependence on oil,

Despite all this, we provided the basic needs of the country, and put forward an ambitious reformist economic white paper that laid out long-term solutions to prevent economic collapse, and to encourage agriculture, national industry and investment,

 We have initiated serious measures to implement this paper, in a way that serves the interests of our people and their economic security. 

We said that we will take great steps in the face of corruption, and we have done, and for the first time all the component considerations and challenges of the influence of some will be overlooked, to open more than thirty large corruption files, as it was impossible to open them previously, and we brought those involved in those files into law.      

On this day, Iraq, unfortunately, stood on the brink of a regional and international war that almost took place on its soil, and we worked calmly and diplomatically to gather support, to restore the weight of Iraq and its international size, and not allow it to slide back into the conflict on behalf of others or attack others.

We have made a lot of progress through strategic dialogue with the United States, to consolidate national sovereignty, just as we made progress itself through frank dialogue with our neighbors and with our friends according to the rule of "Iraq first interest". 

Our honorable and honorable people

Our armed forces are heroic ..

Strengthening the security services, dedicating their specialization, and restoring the honor to the heroic Iraqi army are at the core of our governmental pledges, and during the past five months, we have made long strides in the way of restoring the prestige of the security and military institutions, whose prestige we say is the prestige of the state. 

We also refused and we refuse to force the security forces to confront the people.

Rather, we affirm that its mission and goal is to protect our people, not to attack them.

That is why we tell everyone:

Do not break the prestige of the security forces in word or deed; 

Respect the rank, the uniform, and the moral value that the soldier and the security man represent. 

Peaceful demonstration is an inherent right of our people.

When we issued strict orders to protect the demonstrators, we call on our youth to be cautious and wary, from the attempts of those afflicted by malice and lack of patriotism, in their endeavor to derail the demonstrations from their peacefulness, or drag them into clashes with the security services, or damage public and private funds, in an attempt to push these agencies. To defend itself and state institutions.

Just as the security services are required to protect the demonstrators, they must protect public and private property and strike anyone who violates the security services or property or breaks the prestige of the state.   

I call on our conscious youth in the demonstrations to form human circuits to maintain a peaceful protest, and to contact the relevant agencies through special lines, which are presented today to report any attempt to tamper with the security of citizens, threaten their lives, or harm institutions and property.

We will never surrender to the non-state supporters, followers of this or that side, or those affected by this stage, in their continuous attempt to strip the peaceful demonstration of its essence, and implant in its ranks the abusers, opportunists, criminals and seditionists, after they have failed to kidnap the state through the outlawed weapons. That is by taking advantage of people's voice and grievances. Those who failed to lead the country, pushed it to the brink of division, civil war, and ISIS terrorist, and turned it into a regional and international arena of conflict, and did not preserve blood and did not preserve the trust, these will not allow them to penetrate the ranks of the demands of our people, and to sow estrangement again between the state and our people, so we say :

 Watch your ranks, distinguish your ranks, so that you do not stand in the same position with those who want mischief in Iraq and its people, and with those who want to destroy and break the state, and give it a gift or captivity to others.   

We remember with great pride the martyrs and wounds of October, and the rumbling voices that called

 "We want a home"

 We remember as we stand today at the threshold of a country befitting and befitting the Iraqis, and I mean a nation that we build together through economic reform, eliminating corruption and restoring the prestige of the state,

 A homeland in which we change through the ballot box, according to the principles of democracy and a free and healthy political life, a country that preserves rights and freedoms, and believes in pluralism, diversity and the peaceful transfer of power.  

 Long live Iraq 

 Long live Iraq 

  Long live Iraq, and may God’s peace and mercy be upon you

 Mustafa Al-Kazemi

Prime Minister

Commander in Chief of the Armed Forces   LINK

MilitiaMan and KTFA Members "A Nice Surprise Very Soon" 10-24-2020

KTFA:

Samson:  Al-Kazemi: The government will hold special meetings to evaluate the reform

23rd October, 2020

The Iraqi Prime Minister, Mustafa Al-Kazemi said on Friday that his government will hold special meetings to follow up the memorandums of understanding signed with European countries and to assess the progress of the financial and economic reform plan.

Al-Kazemi's speech came upon his arrival to Baghdad from Britain, which was the last stop of his European tour that also included France and Germany. "We signed memoranda of understanding in the capitals of Paris, Berlin and London to develop economic, security and cultural relations," Al-Kazemi said, according to his media office.

He pointed out that his talks in the three European countries "touched on the white paper on economic and financial reform, and Europe's support for developing the performance of economic institutions in the country."

Al-Kazemi called on the Ministry of Foreign Affairs to follow up the memoranda of understanding signed with the three European countries. He said that his government will hold special meetings every three months to follow up the signed memorandums of understanding and then evaluate the reform process on the White Paper.

The Kazemi government recently sent a plan to Parliament that includes reforming the country's financial and economic institutions in an effort to diversify sources of revenue. Al-Kazemi's European tour began last Sunday, his first since taking office in May.  LINK

Samson:  In the document ... the Finance Committee clarifies the draft law on financing the fiscal deficit

24th October, 2020

The Parliamentary Finance Committee issued a statement confirming that the government should have sent the budget bill for the year 2000 and included a borrowing plan in it rather than resorting to “quarterly” laws.

The committee added, in an explanation to it, that the continuation of the borrowing policy will lead to the collapse of the economy and flood the country with debt, stressing that the government's responsibility requires control over oil and non-oil expenditures and revenues.

The committee confirmed that the cabinet did not abide by the legal articles included in the internal and external borrowing law that was approved last June, specifically regarding the real numbers of employees and their salaries, pointing out that the borrowing funds in the current draft law are exaggerated and there is a tendency to reduce them and reduce state expenditures in the coming months.

Translation....

Financial Committee clarification regarding (The Fiscal Deficit Financing Law)

The draft law on financing the fiscal deficit (assumption) was received by the House of Representatives and it was included in the agenda of today's session directly by the Presidency of the House of Representatives, and with regard to this law we would like to show the following: 

1- Contrary to Federal Financial Management Law No. (6) of 2019, the government did not send the draft federal budget law for the year 2020, and the borrowing plan had to be included in the draft general budget law in implementation of the provisions of Article (39 / First) of the Financial Management Law The presentation of the budget bill is not replaced by quarterly borrowing laws.

2- The principle of borrowing adopted by (the Fiscal Deficit Financing Law, and before it the Law on borrowing me from the interest of the country and the people, and leads to an economic collapse and flooding the country with debt. The government's responsibility is to properly control and direct spending, as well as control the tributaries of the state’s oil revenues and others and maximize those revenues correlates with the volume of spending

3-The cabinet did not abide by the legal articles that have been included in the borrowing law that would electronically control employee compensation (salaries) to know the actual numbers of employees and the amount of salaries. Sunni Dalia Kordia Oram is very exaggerated and is not commensurate with the expenditures that the month has betrayed the money in the current year. Therefore, the committee is heading to cover the expenses to the logical and actual limit, which represents the ruling and urgent expenditures for the months of the current year through communication and holding meetings with the Ministry of Finance And the central bank.

That the legal timings and according to the Financial Management Law requires that the 2021 budget be submitted no later than 10/15/2020, meaning that the government up to this day's date was days late for submitting the 2021 Budget Law.   LINK

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MilitiaMan:  Thank you Samson.. Always a pleasure to see your hard work and with it bringing affirmations of what has been pointed out to me time and time again. The 2019 FMLA and 2020 Budget data needs to be sorted prior to the 2021 Budget. It is late, as they haven’t exposed the rate yet.

As for the frustration with opening accounts in an earlier post. We learned quite some time ago from WS imo that there were an adequate percentage of citizens with accounts already. Most have cards already too.. My view is that the more the merrier. So with the citizens knowing what they know now, the likelihood of being even more successful is highly likely in the short term. They know something big is coming And will want to be apart of it and quickly.

The logic behind them getting this done now with approval of the G7, Europe, the ME, Africa and now even Eastern Europe is far more supported than in 2021 era. To get the financing to pay salaries will require the ability tap into the secondary markets.. Which again they have the full support of the largest financial entities on the planet..

I will be keeping my view very short sighted!! Imo Thank you Samson and Don961, you both are the wheels on our bus!! - MM . 

MilitiaMan:  Add this into the mix now and going a bit further with the above. It is imo that they are making those that have not disclosed their Financial Assets accountable.

To get their future payments they'll need to disclose. Which will expose those that have been stealing. Thus, the lack thereof disclosures thus far in some ministries. Those that stole know it and are probably filling their shoes about now.

They are now warned legal proceedings may come from the lack thereof. Something to also consider is the last payment if at a program rate was Septembers salaries. The next three months (quarter) are yet to be sorted, yet!!. 

I expect that the below is coming out now because the new rate is about to be exposed. They will not want any over payments to those that are not deserved.

 The new electronic system will not allow for illegal payments. They'll be able to track every new dinar issued. You want your pay? You want your HCL monies? Disclose your assets and those that don't have bank accounts may want to get to the banks now.. It is a win for most and a loss to the few that didn't or won't play by the rules.

The integrity commission is all over this now and rightfully so. It is looking to be game over. Keep in mind there are said to be about a million people flocking to Bagdad for tomorrow's demonstration or celebrations. Depends on circumstances.

It has been a year since the demonstrations started in late 2019. The military and police have bee ordered to disarm for them this time. The last time there was about 400 killed. The new PM will not want a repeat of that at all. He just got home with the worlds blessing and support for MRs & ERs.

I pray for the citizens that they are flocking to Baghdad for celebrations this time,  and I pray they get shown the rate and NSCNs to celebrate over. ~ We shall see.. ~ MM 

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Today, Saturday, the Integrity Commission announced that it will stop paying the salaries of MPs and government officials who refrain from disclosing their financial assets.

"The three presidencies and all the ministers submitted their financial receivables, except for the ministers of finance and communications," said Moataz Al-Abbasi, director of the prevention department in the authority.

He added, "We sent lists of abstaining from members of Parliament and other officials, including ministers, and we asked the concerned authorities to stop disbursing their salary until the commission is provided with the disclosure."

Al-Abbasi stressed that "in the event of continued abstention, the Integrity Commission will take more severe measures, foremost of which is the opening of criminal cases against them."

The Director of the Prevention Department stated that “the Integrity Commission aims, through financial disclosure and disclosure to state officials, to monitor and follow up on graft and thus tighten the screws on the channels of corruption and cordon off its corridors for the purpose of protecting public money from looting and theft.

Any increase of more than (20%) annually in funds The taxpayer or the money of his wife or children are not commensurate with their usual resources, and the taxpayer has not proven a legitimate reason for it, which is considered an illegal gain.

Samson:  Barham Salih: Iraq Is Determined To Be A Fully Sovereign State, And We Need The Support Of The International Community

24th October, 2020

President of the Republic, Barham Salih, congratulated, on Saturday, the Secretary-General of the United Nations, Antonio Guterres, on the occasion of the 75th anniversary of the founding of the organization, while stressing that Iraq is determined to have a state with full sovereignty.

In the text of the message, Salih said, "Mr. Antonio Guterres, Secretary-General of the United Nations, I extend to you, and to all the employees of the United Nations Organization of the Whole of Our World today, my warmest congratulations on the seventy-fifth anniversary of its founding." He added, “Iraq today, which is one of the founding countries, stands in support of the values ​​and principles that the United Nations carries for the sake of establishing world peace, engaging in dialogues in order to reduce tensions, prevent conflicts, and protect human rights, and it also emphasizes at the same time the pivotal role played by the organization.

In uniting the interests of its member states, and strengthening efforts together towards achieving common goals serving the peoples of the whole world.

He continued, "In these difficult times, as the world is facing Covid 19 with all its health, economic and social implications, perhaps it is an occasion that calls for reminding us of the importance of international solidarity to face the challenges together and the positive role that United Nations organizations play in facing this epidemic."

He pointed out that “the world today faces other challenges, on top of which is terrorism, and Iraq had a bitter experience with it, but through the concerted forces of the people and the security services of all their formations and the support of allies and friends, they dealt a fatal blow to ISIS, but the war against terrorism is still ongoing, and it should be. Continuing the international effort to fight it and eliminate its sources of funding, by combating corruption as the political economy of violence and terrorism. Today, Iraq is moving towards fighting corruption, recovering its stolen money and pursuing the corrupt.

He noted, "We renew our call to the United Nations and the international community to continue supporting the Iraqi people in facing the challenges, as we await the entitlement of elections that require ensuring their integrity and achieving the free will of the citizens away from fraud and manipulation, as the youth of Iraq are looking forward to making a change in the country that is commensurate with their aspirations, over decades."

From suffering, and we are setting off towards a promising future in which citizens will be able to enjoy the wealth of their country through good governance, a firm state and full sovereignty that makes the country a meeting point for the common interests of peoples in the region and the world, not an arena for settling other people's accounts.

He explained, “We renew our congratulations to the United Nations on its seventy-fifth anniversary, and we remember with reverence the departure of the former representative of the United Nations Secretary-General in Iraq, Sergio Demelo, who was hit by terrorism, as well as many UN employees who sacrificed their lives side by side with the Iraqis in the face of difficulties. A solid will was stronger than the terror plans in the Nile than to continue working for freedom and peace.   LINK

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Toyvp:  SOMETHING ABOUT THIS HEAD LINE JUST MAKES ME WANT TO SAY................."YA THINK!!!!!!!!!!"

Samson:  The salary crisis explodes in Iraq and the situation is now dangerous

23rd October, 2020

Qusai, the government employee, was terrified when his monthly salary was late. Waiting days became weeks and he was late in paying his house rent, as well as his monthly bills. The man, who works as a graphic designer for the Ministry of Health, spends nearly half of his salary on his monthly rent of about 450,000 Iraqi dinars, or the equivalent of about $ 400, and is worried that he will find himself and his family homeless if he is two months late in payment. Qusay says the delay in salaries is severely affecting his ability to carry a burden of living.

The government of Iraq is struggling to cover salaries of inflated public sector employees amid an unprecedented liquidity crisis caused by low oil prices. September salaries are weeks late, October salaries have yet to be paid, and the government is trying to borrow again from state reserves. The crisis has fueled fears of instability ahead of upcoming mass demonstrations this week.

The government had reviewed a plan, or rather a "vision," to bring about comprehensive structural changes in the Iraqi economy, in a "white paper" presented to the Iraqi parliament members and political factions last week. But with the early elections approaching, advisors to the prime minister fear that there is no strong political will to implement that vision." We call on the same people who we protest against and criticize, to reform the system," said Sajid Jiyad, an ethnic researcher.

Calls for the White Paper to cut public sector salaries and reform the state’s financial sector would destroy the system of quotas and patronage that political elites rely on to consolidate their powers. Much of this muhasasa system is the distribution of state jobs in exchange for subsidies, and as a result, the number of public sector workers has tripled since 2004.

The government is now paying salaries that are 400 percent more than it did 15 years ago. 75 percent of the state's expenditures in the fiscal year 2020 are earmarked for public sector expenditures, a massive drain on dwindling financial resources.

Member of the Finance Committee in the Iraqi Parliament, Representative Muhammad al-Darraji, says, "The situation is now dangerous."

A political official in the government, speaking on condition of anonymity, said that the political factions deny the need for change, and believe that oil prices will rise again and that "things will be fine ... We will not be well, the system cannot be supported and will collapse sooner or later."

Iraqi activists called for a march on October 25, which is expected to attract large crowds, after a year of massive anti-government protests that saw tens of thousands take to the streets to demand reforms and the overthrow of the corrupt political class.    LINK

MilitiaMan:  The part about that September salaries are weeks late, is very curious. I am suspicious if they were paid or not. This article suggests they not have been. If not, then the title is apropos be sure. Tomorrow may bring some seriousness to it.   If they haven't and don't give a good reason and  or a cure for it, they'll find out real quick things can go south in a hurry. PM K having the support of the G7, et al,  imo shows me they may get a nice surprise very soon. imo ~ MM 

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

KTFA:

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

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

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

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

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

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

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

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

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

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

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

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

22nd October, 2020

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

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

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

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

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

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

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

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

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

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

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

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

10/22/2020 21:21:03

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

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

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

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

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

10/22/2020 23:21:47

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

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

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

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

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Frank26:  10-23-20.........#.9

This video is in Frank’s opinion

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