Petra, Militiaman and KTFA Members Saturday PM 11-21-2020
.KTFA:
PETRA: Don't pass by this article!! BIS is the Central Bank of all Central Banks. Who better knows they are under Article 14 and cannot transact internationally...unless???
So why make this commitment of investment???? It's a rhetorical question!
And yes, of course they would know about the rate change because they are the ones who will notify all the other CB's around the world when it is formally announced by the CBI. Somethings coming!!!
Watch the CBI!!!! IMO
Samson: The Iraqi Central Bank and the Bank for International Settlements agree to increase investment opportunities
11/21/2020 14:15:26
KTFA:
PETRA: Don't pass by this article!! BIS is the Central Bank of all Central Banks. Who better knows they are under Article 14 and cannot transact internationally...unless???
So why make this commitment of investment???? It's a rhetorical question!
And yes, of course they would know about the rate change because they are the ones who will notify all the other CB's around the world when it is formally announced by the CBI. Somethings coming!!!
Watch the CBI!!!! IMO
Samson: The Iraqi Central Bank and the Bank for International Settlements agree to increase investment opportunities
11/21/2020 14:15:26
The Central Bank of Iraq agreed, today, Saturday, with the Bank for International Settlements to increase investment opportunities.
A bank statement said, "The Central Bank of Iraq held a remote meeting with the Bank for International Settlements (BIS) to discuss prospects for joint cooperation and investment mechanisms between the two parties."
The statement pointed out that "the two sides agreed on the contribution of the Bank for International Settlements to enhance the capabilities of the Central Bank of Iraq and increase investment opportunities in foreign reserves."
The Bank for International Settlements is an international institution that provides services to central banks that seek to enhance global monetary and financial stability, through its activities in achieving a balance of priorities of strategic importance for central banks in managing reserves, and ensuring a good understanding of liquidity management and diversification in order to obtain good returns To meet their needs, as well as providing credit, gold and foreign exchange brokerage services and asset management, including the function of integrated financial and operational risk management and properly controlling them. LINK
MilitiaMan: Yesterday Iraq Finance Minister is given the green light to negotiate with AYSCUDA. The negotiations would have to be with information that would need to have been obtained from the CBI to negotiate Iraq's procedures to get up to international standards as that is expected of a Country that to be a modern market economy.. The BIS may be our icing on the cake. Imo IT IS!!! ~ MM PS... If it is in print it could be dated ... jmtc..
"CUSTOMS MODERNIZATION PROJECT CUSTOMS MODERNIZATION PROJECT
To reform and modernize the Customs Administrations, aligning
the legal framework, their organization and procedures to
international standards and best practice, and ensuring their
expected role in a modern market economy
IT Component IT Component
To modernize the Customs IT infrastructure and build e-government facilities for information and interaction with the
trade community, including electronic filing of declarations
ASYCUDA ASYCUDA provides the core software and related expertise to
create an efficient and effective environment for the
management of Customs operations"
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Don961: The Iraqi economy between bankruptcy and rescue
Engineer Mohammed Sahib Al-Darraji Member of the Finance Committee in the Iraqi Parliament
Special article for Policy Making Forum IFPMC_LONDON November 20, 2020
After the end of the clamor that accompanied the session of approving the financial deficit financing law and the attention shifted from the seriousness of the financial situation to the component bickering of the general policy of the distorted system that manages the relationship between the center and the region, the game of throwing balls in the other court between the government and parliament regarding managing the financial situation continues, forgetting that the public
The spectator of this game may enter the arena of the two parties and end the game completely and demolish the stadium on the heads of the local and external players and coaches, and the final whistle will be a loud cry for a people who may not find their strength if the economic and financial situation continues in this confused way that lacks the touches of statesmen who think about the future of generations rather than the results of the elections
After this enthusiastic introduction, let us rely on the calm of the brave in crises and open up to our people with the truth of the matter and the bitterness of the result.
Mismanagement of the economy is not the result of the moment, but rather the accumulation of wars, sieges and political mismanagement.
Whoever runs the state is unaware that he is ignorant of the economy and believes that he is doing what is right when he burdens institutions with appointments or increases the number of people directly benefiting from government imports, and at the same time he is proud that he followed the policy of the open market as an example, and he does not know what it means and does not listen to those who know and other disasters that have transformed Iraq To a consumer quagmire for the products of others, and it has become like a station to sell oil to others in exchange for money that directly turns into consumer imports that end up in garbage or "sewage streams"
Consequently, Iraq lost the economic and financial compass and became without a clear economic doctrine, and the bad performance was exposed when oil prices fell
. Regardless of the reasons and causes, we have to face the current reality, as the expenditures are very high not commensurate with the productivity of society and there is an accuracy in calculating the gross product accompanied by a large decrease in imports, which creates a financial deficit whose effects reach the level of the daily sustenance and income of the citizen, and even exceed it to the contractual breach between the state and its employees by not paying Pay or delay.
Unfortunately, the government could not deal with the crisis except by borrowing, and Parliament approved internal and external borrowing in June 2020, conditional on measures represented in providing reforms within 60 days and controlling spending for salaries through the biometric number of employees. However, the competent authorities in the government failed to achieve this. They were unable to obtain any external loan, but rather borrowed internally only. A reform paper was not presented in a timely manner, nor did the employment number activate
In general, let us accept the name in order to advertise the solution, if any! I will express a frank and brief opinion of this document: - A research paper that information was gathered from here and there and placed at the top of the paper in a manner similar to the method of second-class consulting offices, and then compiled a set of solutions that are not without validity from various papers and meetings, the most important of which is the IMF paper presented to the committee Finance in the Iraqi Parliament in 2017 at a workshop held in Jordan.
Despite this, the paper does not need to be presented to Parliament, as the law referred to reforms and not to submit them for approval in the House of Representatives! Also, most of the proposed solutions can be initiated immediately by governmental institutions without any legislative interference.
Here we are surprised at the governmental stalemate in starting any financial or economic measure to save what can be saved. On the contrary, a new law was introduced to borrow for the remainder of the year and with sums of money, with which it was reluctantly approved by the House of Representatives after it was linked to the salaries of employees and the media agitation against the House of Representatives, which made the specialists within the Council between the hammer of the necessity of paying salaries and the anvil of the danger of borrowing Over the Iraqi economy, the hammer prevailed over its anvil, and God is our helper
What is more dangerous than that is that there is still the possibility of borrowing in 2021, and here we must be very frank, as internal borrowing is an unreal metaphor for the reality of using money from the Central Bank of Iraq as Iraqi banks are unable to lend to the government because it suffers from a lack of liquidity mainly . On this basis, the Central Bank issues its treasury transfers to government banks to give them to the government to fill the deficit.
The important question here is where the central bank comes from this money? The answer is that the bank has two solutions, the most bitter
The first is to use reserve storage from hard currency and convert it into dinars by increasing the sales window of currency sale
Second, it was printed for the Iraqi currency without a corresponding cover of gold or hard currency
These two solutions will sooner or later lead to very negative results that may reach a complete collapse through either the bankruptcy of the central bank’s reserves or the loss of control over the exchange rate without being prepared for that and the protection of the fragile classes in society.
These two dilemmas remained. Accordingly, the state, represented by the government and all other legislative and social institutions, must start a series of measures to save the situation, and these measures may involve some sacrifices, but they fall under the principle of warding off the worst from the bad.
Lack of control over the economic situation may push the country to slide into the tunnel of dark chaos, and here I can suggest some measures Which may contribute to a temporary adjustment of the economic rhythm. I hope that the decision-makers will look at it seriously and professionally, lift the reverence in their ears, remove the blindness of their eyes, and open their hearts to reach the country to Paraman
Asking OPEC to exempt Iraq from reducing the quantities of exported oil and adhering to the original quota
Converting the state’s assets and assets into cash and selling the overrun lands and selling agricultural lands to contracting parties
Government control of retirement, insurance, and insurance investment funds and their operation to bring in adequate returns
Stopping consumer spending in state departments and closing embassies and missions in countries that do not have diplomatic representation in Iraq
Freezing allocations for presidencies and some ministries and achieving the principle of equal salary and allowances for all state employees
Compulsory collection of services such as electricity, water and sewage, and the collection of all state debts
Imposing compulsory insurance on all commercial activities
Stop all cuts in oil prices, internally and externally
Changing the exchange rate provided that it is accompanied by a series of measures to control prices and protect the poor and middle-income classes
Imposing sales tax and increasing customs on some luxury items and increasing the tax base, not taxes
Announcing all government factories as investment opportunities, protecting the local product, and preventing some imports
Withdrawing the cash liquidity in the community and re-employing it in productive projects. This is done in various ways that were previously explained in previous articles
Impose electronic payment, reduce the use of cash payment to a minimum, and encourage e-commerce
Approving the biometric card or the unified job number when distributing the salary
Giving privileges and facilities to investors who pay flat sums to the state
Opening the door to competition in the telecommunications and Internet sector and ending the commercial monopoly of some companies
Opening the door for investment in mineral resources such as phosphates, sulfur, and others
The Ministry of Finance sells hard currency directly to those wishing to buy
Pumping loans to operate the private sector and giving sovereign guarantees to international companies equipped for the production lines of factories in the event that the private sector imports these production lines
Restructuring the ration card or converting it to cash sums delivered to the unemployed, retired people, and small employees, and those who prove that their monthly income is less than one million dinars
It goes without saying that there are dozens of other applicable ideas that can positively affect the financial and economic performance of the government and move away from being constructive points inappropriate for the Iraqi reality. Finally, solving the economic problem and steadfastness in rising the economic slope requires concerted efforts between the government, legislative institutions, citizens and social actors.
To stop the collapse and preserve public order and civil peace and we are torn apart from the curse of oil towards building a sustainable economy that prepares for a better life for our present and the future of future generations link
Samson: The Saudi Monarch Calls For Opening Borders Between Countries To Facilitate The Movement Of Trade
21st November, 2020
Saudi King Salman bin Abdulaziz said that 2020 was an exceptional year, as the emerging Corona pandemic constituted an unprecedented shock that affected the whole world in a short period of time.
"We must continue to support the global economy and open borders between countries to facilitate the movement of trade and provide support to developing countries," he added in a speech upon opening the works of the virtual summit of the leaders of the G20 countries.
King Salman called for providing opportunities for all, especially youth, to enhance their role in the labor market through education, training, creating jobs, supporting entrepreneurs, bridging digital gaps, creating conditions for creating a more sustainable economy and effectively promoting the principle of the circular economy.
He also called for providing opportunities for all, especially youth, to enhance their role in the labor market through education, training, creating jobs, supporting entrepreneurs, bridging digital gaps, creating conditions for creating a more sustainable economy and effectively promoting the principle of the circular economy. LINK
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The G20 Summit Allocates 11 Trillion Dollars To Help The Global Economy
21st November, 2020
The Saudi Minister of Investment, Khalid Abdulaziz Al-Falih, said that the global economy will contract less than previously expected, due to the steps taken by the G20.
Al-Falih added, in statements on the sidelines of the G20 summit today, Saturday, that $ 21 billion has been allocated to support efforts to reach a vaccine for Covid-19, as well as $ 11 trillion to help the global economy. He stressed that helping the poorest countries was one of the priorities of the Saudi Presidency of the G20.
Al-Falih indicated that the impact of the G20 summit this year will not be limited to the repercussions of the pandemic, explaining that the importance of the G20 summit this year is to prepare the world in the future to face challenges such as the pandemic. LINK
KTFA Members "News and Views" Saturday 11-21-2020
.KTFA:
Ross: (Late Friday Night) The banks are closed today and tomorrow.
Sunday would be a good day to release salaries and perhaps a new rate.
Maybe next week will a real Thanksgiving treat for all of us.
One can only hope.
KTFA:
Ross: (Late Friday Night) The banks are closed today and tomorrow.
Sunday would be a good day to release salaries and perhaps a new rate.
Maybe next week will a real Thanksgiving treat for all of us.
One can only hope.
Samson: The Central Bank issues a directive to banks on Bulgarian monetary currencies
21st November, 2020
On Saturday, the Central Bank of Iraq informed all banks that Bulgaria had issued banknotes containing new security features
"The Bulgarian National Bank has informed us that it has introduced categories 5, 10 and 20 levs," the bank said in a statement, which was received by "Economy News", indicating that "these categories include new security specifications as well as updating some of the existing security specifications
The bank added that "the old banknote of the same category remains for circulation and has strength, innocence and legal presentation until the damaged notes of this category are replaced
The bank called on all private banks in Iraq to "inform their employees who work in the field of foreign exchange about the new issuance of the Bulgarian National Bank LINK
**** This is in relation to https://cbi.iq/news/view/1605 posted on forum on the 18th November
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Samson: Within a week .. Iraqi oil exports to America record a decline
21st November, 2020
The US Energy Information Administration announced, on Saturday, that Iraqi oil exports to America decreased by 94 thousand barrels per day during the past week.
In a report seen by Shafaq News Agency, the administration said, "Iraqi oil exports to the United States of America decreased by 94 thousand barrels per day during the past week to reach 92 thousand barrels, after it was 186 thousand barrels in the previous week."
And she added, "US imports decreased during the past week by 197 thousand barrels per day to 4.832 million barrels per day, indicating that" most of these revenues came from Canada, which amounted to 3.181 million barrels per day, followed by Mexico, whose revenues amounted to 517 thousand barrels per day, then Ecuador and revenues It amounted to 373 thousand barrels per day."
The administration indicated that "US imports of crude oil from Saudi Arabia were at the same level as last week, reaching 357 thousand barrels per day, Colombia by 215 thousand barrels per day, and Nigeria with revenues amounted to 98 thousand barrels." LINK
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Samson: Chinese efforts to seize the US share of Exxon in an oil field in Iraq
21st November, 2020
The two Chinese oil giants, the China National Petroleum Corporation and CNOOC Ltd., are studying to acquire the remaining stake of Exxon Mobil Corp in an oil field in Iraq.
The US Bloomberg Agency said that "the agreement would represent Exxon's exit from the project and the major international oil companies' retreat from Iraq after Royal Dutch Shell Plc left Majnoon field three years ago."
Tough contractual terms, late payments and political instability weakened the attractiveness of what had previously been the glittering oil prize in the Middle East. "Iraq has not proved as appealing as it had hoped a decade ago, more expansion plans in Iraq. In contrast, Chinese companies are still interested," said Richard Bruns, co-founder of the consultant Energy Aspects Ltd.
CNPC and CNOOC, both of which are state-owned, are considering a potential deal to buy Exxon's 32.7% stake in West Qurna 1, Iraq, said people who requested anonymity because it is a privacy matter. They added that "no final decisions have been taken and there is no guarantee that the deliberations will lead to an agreement," explaining that the geopolitical risks in Iraq may raise doubts about any potential agreement.
Exxon's departure from the field, where it was once the dominant player and remains the main contractor, would cast doubt on a massive water injection project seen as critical to increasing Iraq's production capacity. The US company is in talks about a joint seawater supply project to the southern oilfields, which has faced several delays.
While the government in Baghdad has made tremendous progress in rebuilding the war-ravaged oil industry in the past decade - effectively doubling production between 2010 and 2015 despite the Islamist insurgency and other challenges - it has repeatedly had to delay its higher productivity targets. The country was pumping about 4.8 million barrels per day last September, before a new round of supply cuts agreed with the member states of the Organization of the Petroleum Exporting Countries (OPEC).
Oil Minister Ihsan Abdul-Jabbar said last month that it aims to reach seven million barrels per day by 2027. In 2010, Exxon signed an agreement with the Iraqi state-owned South Oil Company to rehabilitate and redevelop the West Qurna oil field. Three years later, Exxon reduced its stake by selling the stake to PetroChina, the listed unit of CNBC, and to PT Pertamina. Iraq awarded a contract to develop the West Qurna oil field to Exxon and Shell in 2009.
The oil field is one of the largest in the world with recoverable reserves of more than 20 billion barrels. Last year, Exxon employees left the Iraqi field after the United States withdrew non-essential personnel from its embassy in Baghdad, citing a threat from neighboring Iran. The employees returned two weeks later after bolstering company security. LINK
Don961: The first political comment on Al-Kazemi's call for the corrupt to return money in exchange for amnesty
3,874 Policy 2020/11/20 13:17
Baghdad today - Baghdad Today,
Friday (20-11-2020), the leader of the Iraqi Front, Atheel Al-Nujaifi, commented on Prime Minister Mustafa Al-Kazemi's call for corrupt people to return money in exchange for pardoning them.
Nujaifi said in an interview with (Baghdad Today), "There is no one intending to steal, then return the money that he stole," indicating that "Al-Kazemi's call to the corrupt to return the money in exchange for exempting them from accountability is a kind of leniency, the aim of which is to return the stolen money, especially if Iraq is going through a stifling financial crisis, and returning those funds is very important at the present time. "
He went on to say, "We suspect that the corrupt will return the money that they stole over the past years, as they are large sums," noting that "some of these stolen funds were spent in various aspects, from investments and others."
The leader of the Iraqi Front added that "calling on the corrupt to return the money in exchange for amnesty for them is a kind of imagination. I do not think that there are those who are corrupt intending to return these money."
In a press conference held yesterday, the Prime Minister, Mustafa Al-Kazemi, called on those accused and wanted in corruption files to return the money that was stolen from public money, which is estimated at billions of dollars, according to what he said.
Al-Kazemi added that many countries of the world have dealt with those accused of corruption cases, according to the principle of returning money in exchange for amnesty for them, while stressing that detainees according to corruption cases have not been subjected to any torture or assault, according to reports from the Ministry of Health that are received on a daily basis. link
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Don961: : An Australian was ousted who bribed Iraqi officials $ 78 million
2020-11-20 | 02:42
Australian media reported that police had arrested a person working for an oil company involved in paying bribes worth $ 78 million that were used to secure lucrative Iraqi oil contracts linked to an alleged international corruption network.
The newspaper said "Street Times"The police claimed that the managing director of the Leighton of Shore oil company, Russell Wu, The Australian national, his company paid bribes through contractors including Una Oil - a Monaco-based company, which two former senior executives pleaded guilty to last year for being part of a scheme to bribe foreign government officials in several countries including Azerbaijan and Syria And the Iraq".
The newspaper pointed out that "bribes amounting to 78 million dollars were used in Iraq To secure contracts to build oil pipelines worth about $ 1.5 billion,
Australian police said in a statement that "the 54-year-old was arrested in the area."Brisbane, And that the main targets of the bribery scheme were responsible for Iraqi Ministry of Oil And government officials in the Southern Oil Company.
”The statement continued,“ The investigation, which spanned nine years, and I participated in itAuthorities of the United States and BritainIt was a painstaking process. " link
Samson: Does Iraq Declare Bankruptcy?
21st November, 2020
The Iraqi economy is under great pressure due to the drop in oil prices, high public sector expenditures and the outbreak of the Corona virus in the country, which made the government unable to pay employees' salaries on time.
The Iraqi state pays the salaries of nearly 7 million people, represented by the salaries of employees, retirees, political prisoners, martyrs and social care, whose annual salaries amount to $ 62 billion, while Iraq's oil revenues from the beginning of the year until last September amounted to $ 30.2 billion, and the budget is approved. Finance on oil revenues increased by 93%.
While the Iraqi government resorted to a policy of internal borrowing to fill the deficit in the financial budget and pay the salaries of state employees, as internal borrowing increased from about 32 billion to 43.5 billion dollars until last August, and most of the borrowing depended on the Central Bank and government banks, and the government seeks to borrow 34 One billion dollars over the next two months to cover the deficit in the coming months.
In turn, the Central Bank informed the Iraqi government of its inability to finance the budget, as the foreign currency reserves fell to 54 billion dollars after it was about 65 billion dollars at the beginning of the year, as well as deposits of government banks reached the minimum permissible level, and became unable to buy Government bonds.
And last Thursday, government spokesman Ahmed Mulla Talal warned that if the parliament did not approve the law to cover the fiscal deficit, the salaries of employees could not be paid, indicating that there is no liquidity in the government except by borrowing and covering the fiscal deficit, and it has gone in this direction compelled, You cannot secure salaries unless this law is passed.
The Minister of Finance, Ali Abdul-Amir Allawi, acknowledged the seriousness of the economic situation, and that failure to reform it would lead to collapse, indicating that the implementation of the White Paper would help the economy and lead to improving the lives of citizens.
The White Paper is an economic document that the government presented earlier this month and included new mechanisms for economic reform, and includes hundreds of measures aimed at improving the economy and exploiting the country's resources in ways described as feasible, and the paper is about 100 pages, provided that its implementation is between 3 and 5 years.
The Iraqi government resorted to international institutions - specifically the seven industrialized countries (America, Britain, Germany, Italy, Japan, Canada and France), in addition to the IMF and the World Bank - to obtain advice to manage the financial crisis, diversify the economy and restructure companies, so the Economic Contact Group for Iraq was established, which bears the costs Its establishment is Britain.
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said that Iraq, due to the Corona pandemic, the crisis of its oil resources and its harmful repercussions on the national economy, is in dire need of an international financial and economic alliance from the great powers, similar to the statement of the Tokyo Summit of the Seven Big Seven in May 2016, which supported Iraq economically in Confronting its economic crisis and fighting ISIS.
He pointed out that the government is determined to achieve reform through the White Paper, and thus this will positively affect the economy after it is implemented through diversifying its sources.
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Samson: The G20 Summit In Saudi Arabia Will Discuss The Post-Corona World And Debt Relief
21st November, 2020
The leaders of the 20 largest economies in the world (the Group of Twenty), which is chaired by Saudi Arabia for this year, will discuss for two days how to deal with the unprecedented Covid-19 pandemic that caused a global recession, in addition to how to manage its recovery once the emerging Corona virus is under control.
Topping the summit agenda is the global procurement and distribution of vaccines, medicines and tests in low-income countries that cannot afford these expenses alone. On Saturday, the European Union will urge the G20 to invest $ 4.5 billion to help in this regard. "The main topic will be intensifying global cooperation to deal with the pandemic," said a senior G20 official involved in preparations for the two-day summit, chaired by Saudi Arabia, to be held online due to the pandemic.
The European Union will propose concluding a pandemic treaty and others in preparation for the future.
Charles Michel, President of the European Council, will address the G20 on Sunday, saying: “The conclusion of an international treaty will help us to deal faster and more coordinated”.
In a G20 summit report, the International Monetary Fund said that the global economy had recovered from the crisis earlier this year, but momentum is slowing in countries experiencing high infection rates, and the recovery is proceeding at an uneven pace and the pandemic is likely to have a profound impact.
United Nations Secretary-General Antonio Guterres said on Friday that poor and indebted countries in the developing world are most at risk because they are "on the brink of financial collapse, rising poverty and hunger and facing untold suffering".
To address this, the G20 will approve a plan to extend the delay in debt service payments to developing countries for a period of six months until mid-2021 with the possibility of another extension, according to the group's draft statement.
European members of the G20 are likely to push for more. "There is a need for more debt relief," Michel told reporters on Friday.
Debt relief in Africa will be the main theme of the Italian G20 Presidency in 2021. LINK
"Looks Like They Are International Now" MilitiaMan Thursday PM 11-19-2020
.KTFA:
MilitiaMan: They know what is coming to a land nearby.. To get liquidity, one needs trade and equitable exchange amongst traders, etc.. imo.. MM
Samson: Opening a branch of Al-Rafidain Bank at the Arar port
19th November, 2020
Al-Rafidain Bank announced, on Thursday, the opening of a branch at the Arar border crossing to expand the trade exchange process between Iraq and Saudi Arabia
The bank’s media office said in a statement, which Al-Eqtisad News received a copy of, that “the Arar border branch was opened with the Saudi side in the presence of the Director General of Al-Rafidain Bank, the Minister of Interior, Othman Al-Ghanimi, the Deputy Commander of Joint Operations, Lieutenant General Abdul Amir Al-Shammari, Chairman of the Border Ports Authority Omar Al-Waeli and the governors of Anbar. Karbala, the leaders of the Anbar and Border Police and other officials
KTFA:
MilitiaMan: They know what is coming to a land nearby.. To get liquidity, one needs trade and equitable exchange amongst traders, etc.. imo.. MM
Samson: Opening a branch of Al-Rafidain Bank at the Arar port
19th November, 2020
Al-Rafidain Bank announced, on Thursday, the opening of a branch at the Arar border crossing to expand the trade exchange process between Iraq and Saudi Arabia
The bank’s media office said in a statement, which Al-Eqtisad News received a copy of, that “the Arar border branch was opened with the Saudi side in the presence of the Director General of Al-Rafidain Bank, the Minister of Interior, Othman Al-Ghanimi, the Deputy Commander of Joint Operations, Lieutenant General Abdul Amir Al-Shammari, Chairman of the Border Ports Authority Omar Al-Waeli and the governors of Anbar. Karbala, the leaders of the Anbar and Border Police and other officials
He added, "The opening of the branch will contribute significantly to revitalizing and revitalizing the economic and trade movement, developing the national economy, providing cash liquidity and increasing investment cooperation LINK
Samson: Baghdad governorate announces the completion of the October and second salary funding for the departments associated with it
11/19/2020 16:31:42
The governorate of Baghdad announced, on Thursday, the completion of the salary financing for the months of October and November.
In a statement, Al-Furat News received a copy, the governorate stated that "the salaries of the months of October and November 2020 have been completed for the employees of the governorate office and the departments and departments associated with it."
The departments and directorates called for "following up with the banks, in order to complete the process of paying salaries to all employees. LINK
MilitiaMan: They haven't completed the process of paying them it says.. imo.. The completed the financing. There is difference.. imo.. I like this.. If they completed financing, then there should be a rate at which they were able to finance the salaries.. They don't say what that is and if there is a change or not. But, interestingly enough the can is still in motion.. imo ~ MM
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Samson: The Association of Iraqi Private Banks supports central bank reforms
19th November 2020
The Iraqi Private Banks Association announced its support for the reforms undertaken by the Central Bank of Iraq directed at banks and monetary policy that will contribute to the development of the Iraqi economy and the banking sector, which will positively affect economic development
"The Central Bank of Iraq is currently working on major and influential reforms, which will lead to the development of the banking sector and the Iraqi economy, especially in the difficult financial crisis that Iraq is currently experiencing as a result of low oil prices," the Association of Private Banks said in a press release
The association added, "The Central Bank of Iraq is taking a wise policy, during this stage under its new management, which is represented by increasing confidence between the banking sector and citizens, increasing monetary and pledging credit by supporting small, medium and large enterprises in addition to the successful experience that the Central Bank has undertaken in launching a special platform." Letters of guarantee
The association noted that it "appreciates the great steps taken by the Central Bank in increasing financial inclusion and supporting banks in their work to diversify banking services, in addition to international cooperation between the central bank and its counterparts from international central banks, which leads to the development of relations between Iraqi and foreign banks, and that these policies and procedures" It will lead to an increase in banking services provided by banks to the aspiration of the Iraqi citizen LINK
MilitiaMan: They haven't completed the process of paying them it says.. imo.. The completed the financing. There is difference.. imo.. I like this.. If they completed financing, then there should be a rate at which they were able to finance the salaries.. They don't say what that is and if there is a change or not. But, interestingly enough the can is still in motion.. imo ~ MM
Samson: Finance begins automating the customs and tax system and submits its project to the Council of Ministers
11/19/2020 14:26:01
The Ministry of Finance presented, today, Thursday, a customs automation project through a program presented by the United Nations Conference on Trade and Development.
The information office of the ministry stated in a statement that the Euphrates News received a copy of it, that "the automation system will strengthen the management of the financial situation in light of the current financial crisis, and develop the necessary solutions to achieve financial reform, and improve the performance of financial institutions in a way that strengthens the restructuring of the Iraqi economy in the face of future challenges and will contribute to solving Economic problems in Iraq."
The statement added, "The Ministry of Finance, in cooperation with the United Nations Conference on Trade and Development UNCTAD, sought to implement the (ASYCUDA electronic customs data system) for the purpose of implementing automation and simplifying procedures in customs as part of its development and improvement of its performance that achieves rational and effective management as well as achieving financial sustainability. And the diversification of the economy according to the principles of integrity, transparency and combating corruption, and the ministry seeks to make it one of the most important sources of support for the state treasury after oil revenues. The statement pointed out that "the Ministry of Finance has started submitting the customs automation project to the Council of Ministers, which authorized the Minister of Finance to negotiate and contract with UNCTAD to automate the customs work, as the ASYCUDA system is one of the global customs regulations and is applied in more than (90) countries in the world."
The Ministry of Finance disclosed the objectives of the program presented by the United Nations Conference on Trade and Development, which is applied to more than 90 countries in the world, as follows:
Simplifying and improving customs procedures, speeding work completion, shortening time and dispensing with paper mail.
The program enjoys high transparency as it is from an international organization and according to international standards specialized in customs procedures.
Calculating and collecting customs duties and other taxes at a rate of 100% and counting the unknown expenses related to customs operations.
Modern customs control that contributes to protecting the national economy.
Reducing the clearance time for goods in addition to contributing to combating customs and tax smuggling by relying on the selective system by specifying the data path and eliminating corruption.
Draw up the economic plan for the trade exchange process according to the reliable and accurate commercial and financial data provided by the electronic system.
Providing customs entries and their management with fast and accurate information on time and extracting foreign trade statistics.
The program will be managed by Iraqi hands after being trained on the program by international experts, which enhances the improvement of the performance of human resources. LINK
MilitiaMan: Looks like they are going international, as things are in motion now. This system has about 90 countries that use it. Trading partners of Iraq, too.. Looks the Central Bank is in line too. I recall the CBI is to be asked a question this weekend.. Gets even more interesting. Salaries are in limbo? We shall see. But all things point international now.. imo.. ~ MM
MilitiaMan and KTFA Members "A New Beginning is Underway" 11-19-2020
.KTFA:
Samson: Electronic export licenses are an introduction to the advancement of the Iraqi economy
18th November, 2020
Al-Hikma says that “the distance of a thousand miles begins with a step”, and Iraq has made real steps towards achieving what it believes was a dream (any country that exports products, not just an importer), so agricultural and industrial products began to reach the neighborhood, the Gulf and Europe. Trade continues to issue electronic export IDs and licenses
The specialist in the commercial field, Raed Al-Ameri, says in an interview with Al-Sabah newspaper, which was seen by Al-Iqtisad News, that "Iraq, during the past years, lacked the courage to enter markets, whether in the neighborhood, the region, or even the world.
KTFA:
Samson: Electronic export licenses are an introduction to the advancement of the Iraqi economy
18th November, 2020
Al-Hikma says that “the distance of a thousand miles begins with a step”, and Iraq has made real steps towards achieving what it believes was a dream (any country that exports products, not just an importer), so agricultural and industrial products began to reach the neighborhood, the Gulf and Europe. Trade continues to issue electronic export IDs and licenses
The specialist in the commercial field, Raed Al-Ameri, says in an interview with Al-Sabah newspaper, which was seen by Al-Iqtisad News, that "Iraq, during the past years, lacked the courage to enter markets, whether in the neighborhood, the region, or even the world.
He added that "what happened during the last year is a real achievement. Iraqi products began to reach the Arab and foreign consumer or factory, after government moves in agreement with the private sector, which is the basis for the success of these endeavors. And that "the ministries of commerce, agriculture, industry and even planning played the role of mediator and participant at the same time, which achieved the planned goal, unlike what was happening during the past years, which witnessed an unjustified divergence between the public and private sectors
In the meantime, the Ministry of Trade announced that the General Company for Fairs and Commercial Services of Iraq will continue to issue electronic export IDs and licenses, in coordination with the relevant sectors and ministries
"The electronic export license is a gateway to the advancement of the Iraqi economy, as it opens the export window for its wrestlers to Iraqi exporters, which contributes to the introduction of hard currency into the country," the company’s general manager, Sarmad Taha Saeed, said in a statement. He added that "the export license was circulated to the relevant ministries and sectors, represented by the ministries of oil, agriculture, industry, minerals, health and environment, and in coordination with the General Authority of Customs for electronic connectivity and training in the form of meals and handing them over to the accounts of the export system
Saeed continued: "The export license reaches all relevant authorities and border crossings electronically, as it has been linked to the Central Bureau of Statistics, with the use of data on export licenses in the trade balance and the Central Bank of Iraq to follow up the arrival of the amounts, as well as the possibility of inquiring by the exporter about the transaction to any The stage it reached and where it stopped. He pointed out that "the electronic linking process between the ministries and the concerned sectors contributes to limiting and eliminating administrative and financial corruption and cases of manipulation and fraud, and misses the opportunity for the weak of souls, as well as reducing time and routine
The Director of the Export Department at the General Company for Iraqi Fairs, Maytham Al-Tamimi, confirmed that the first export license was issued with the approval of a sectoral entity represented by the Ministry of Oil through the electronic import and export system during last October LINK
MilitiaMan: What is RCEP?
RCEP will reduce tariffs on many goods; harmonize and streamline customs procedures, cutting red tape and reducing the costs of doing business in the region; and strengthen Asian supply chains, boosting their competitiveness in global markets. The pact is an important step toward deepening economic integration in the region, moving Asia closer to being a coherent trading zone along the lines of North America or the European Union.
MilitiaMan: Put this RECP into perspective in respect streamlining customs procedures, cutting red tape and doing business regionally. That is for the 15 countries that signed the largest trade agreement in the world. Korea and both China have a stake in Iraq who by the way is opening contracts in Iraq internationally and even major deals with SA at their borders.. Their borders have been closed for outwards of 30 years!!! The crossing will have the latest technologies!
They use terms similar to RECP too. “Re-engineer procedures for customs exemptions and restrictions.. They are expecting a qualitative leap in the level of exchange!! The expect a big movement in size it exchange. They are going to a market economy and it clearly shows the timing of the similar aspects in Asia is very timely!! Imo -MM
Don961: Governor of Anbar: Iraqi companies will manage the exchange yards at the Arar port
Thursday 19 November 2020 Baghdad: Morning
Anbar Governor Ali Farhan al-Dulaimi revealed the agreement with the Saudi side to manage the exchange yards at the Arar border crossing by Iraqi investment companies to provide job opportunities.
On Wednesday, Iraq and Saudi Arabia officially opened the Arar border crossing, while Minister of Interior Othman Al-Ghanmi deputized Prime Minister Mustafa Al-Kazemi.
The governor of Anbar told «morning»: «that« Arar port will be one of the most important commercial outlets and it is hoped that large quantities of materials and goods that Iraq needs will enter through it soon.
After the opening of the port, 15 convoys arrived from the Kingdom of Saudi Arabia loaded with medical equipment, provided by the King Salman Center to the Iraqi government to confront the Corona pandemic. Al-Dulaimi added that "the trade exchange yards will provide thousands of job opportunities for young people, especially in the nearby poor areas." LINK
MilitiaMan: Good deal a new beginning is under way. imo ~ MM
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Samson: Opening a branch of Al-Rafidain Bank at the Arar port
19th November, 2020
Al-Rafidain Bank announced, on Thursday, the opening of a branch at the Arar border crossing to expand the trade exchange process between Iraq and Saudi Arabia
The bank’s media office said in a statement, which Al-Eqtisad News received a copy of, that “the Arar border branch was opened with the Saudi side in the presence of the Director General of Al-Rafidain Bank, the Minister of Interior, Othman Al-Ghanimi, the Deputy Commander of Joint Operations, Lieutenant General Abdul Amir Al-Shammari, Chairman of the Border Ports Authority Omar Al-Waeli and the governors of Anbar. Karbala, the leaders of the Anbar and Border Police and other officials
He added, "The opening of the branch will contribute significantly to revitalizing and revitalizing the economic and trade movement, developing the national economy, providing cash liquidity and increasing investment cooperation LINK
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Samson: International Institute: Global debt will jump to $ 277 trillion by the end of the year
19th November, 2020
The Institute of International Finance said that global debt is expected to jump to a record high of $ 277 trillion by the end of the year as governments and companies continue to spend generously in the face of Corona
The institute, which includes more than 400 banks and financial institutions around the world, confirmed that the debt has already ballooned by 15 trillion dollars this year to 272 trillion dollars by the end of September, and governments, especially from developed markets, have contributed nearly half of the increase
Total developed market debt jumped to 432 percent of GDP in the third quarter, compared to about 380 percent at the end of 2019. The debt-to-GDP ratio in emerging markets was about 250 percent in the third quarter, China scored 335 percent, and the global ratio is expected to be around 365 percent for the whole year
The Institute of Finance said in its report: "There is intense uncertainty surrounding the way in which the global economy can pay off future debts without dire repercussions on economic activity. Total US debt is set to reach $ 80 trillion in 2020, the report said, up from $ 71 trillion in 2019. In the euro area, the debt increased by $ 1.5 trillion to $ 53 trillion by the end of September
The decline in revenue for emerging market governments has made it "more difficult" to repay debt, even as borrowing costs have fallen to record low levels around the world. The Institute of International Finance said about $ 7 trillion in emerging market bonds and syndicated loans will be due for repayment by the end of next year, about 15 percent of which are in US dollars
G20 officials agreed last month to extend an initiative to freeze official bilateral debt payments until the end of the first half of 2021, and said they would consider extending it for another six months in April. The International Monetary Fund estimates that the global economy may contract 4.4 percent this year and then grow 5.2 percent in 2021 as pandemic closures and travel restrictions affect economic output LINK
Samson: Baghdad governorate announces the completion of the October and second salary funding for the departments associated with it
11/19/2020 16:31:42
The governorate of Baghdad announced, on Thursday, the completion of the salary financing for the months of October and November.
In a statement, Al-Furat News received a copy, the governorate stated that "the salaries of the months of October and November 2020 have been completed for the employees of the governorate office and the departments and departments associated with it."
The departments and directorates called for "following up with the banks, in order to complete the process of paying salaries to all employees. LINK
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Samson: The US Congress Votes To Support The Demonstrators In Iraq And To Reveal Their Killers
19th November, 2020
Head of the Kloada Center for Studies and Measuring Public Opinion in Iraq, Basil Hussein, revealed that the US House of Representatives voted on a law supporting the demonstrators in Iraq.
Hussein said in a tweet on his Twitter page, "The US House of Representatives votes to approve a bill to support Iraqi demonstrators and call on the Iraqi authorities for a transparent investigation to uncover the perpetrators of their deaths." Hussein indicated that the law also supports "minorities and the displaced."
It is noteworthy that the Prime Minister, Mustafa Al-Kazemi, had previously announced more than once that the accused of killing the demonstrators, and a number of Iraqi activists, had been reached, but Iraq had not witnessed any measures in this regard, including the defendants being brought to justice, or the disclosure of investigative measures. LINK
KTFA Members "News and Views" Wednesday 11-18-2020
.KTFA:
Samson: Parliamentary Finance: The 2021 budget will arrive within days, and we did not allow a repeat of the 2020 scenario
17th November 2020
A member of the Parliamentary Finance Committee, Shirwan Mirza, confirmed, on Tuesday, that the 2021 budget is nearing the House of Representatives, indicating that Parliament will not allow the government to have no budget for the next year at all, as it has done during 2020. LINK
Popeye7: The article are making it quite clear they are clearing the runway for take off of their economy... Kinda of like pulling on slingshot as hard as one can to ensure maximum velocity, as Iraq prepares for this momentous opening of their economy to the world's nations...
KTFA:
Samson: Parliamentary Finance: The 2021 budget will arrive within days, and we did not allow a repeat of the 2020 scenario
17th November 2020
A member of the Parliamentary Finance Committee, Shirwan Mirza, confirmed, on Tuesday, that the 2021 budget is nearing the House of Representatives, indicating that Parliament will not allow the government to have no budget for the next year at all, as it has done during 2020. LINK
Popeye7: The article are making it quite clear they are clearing the runway for take off of their economy... Kinda of like pulling on slingshot as hard as one can to ensure maximum velocity, as Iraq prepares for this momentous opening of their economy to the world's nations...
Popeye7 cont….If they do intend to vote on the 2021 budget next week, this weekend certainly seems like a good time to release the rate on the world economic scene... Sunday is the 22, or 11/22/2020... So 11 plus 22 equals 33...
33 is considered an interesting number in many respects both biblically, and from those who place their faith in numerology... Some believe Jesus died at the age of 33, and there are those who believe HIS crucifixion took place in the year 33 AD...
From a numerology standpoint, 33 is a very powerful number, and can symbolize growth, and abundance... While one being able to have more than they formerly had in life in order to help others...
I was thinking about how Frank had been mentioning the number 9 quite a bit of late... Interesting how the 22nd of November, or 11/22/2029 will be the next time Thanksgiving falls on this particular date... Which will be 9 years from this year... 11/22 is the lowest day, and furthest from the end of the month of November that Thanksgiving can fall on...
Probably the most famous historical occurrence that took place on 11/22, sadly, was the assassination of President Kennedy back in 1963...
Anyway, just pondering, and sharing my thoughts... Have a great day folks, and God's peace, and joy be upon us all through the power of HIS SPIRIT...
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Don961: Al-Kazemi receives a phone call from Pompeo about the future of the relationship between Iraq and the coalition forces
Policy , 11/17/2020 23:31 Baghdad - Iraq today: Today
Tuesday, the Iraqi Prime Minister, Mustafa Al-Kazemi, received a phone call from the Secretary of State of the United States of America, Mike Pompeo.
Al-Kazemi's media office said in a statement that "during the call, they discussed bilateral relations between the two countries, as well as the development of the situation in the region."
The contact also discussed, according to the statement, the development of cooperation between the two countries in various fields. They also discussed the future of cooperation between Iraq and the international coalition led by the United States of America, in light of the growing Iraqi capabilities in fighting terrorism.LINK
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Don961: The launchers of Katyusha rockets last night "will not pass without prosecution and accountability." ... and the security services began procedures for identifying the perpetrators.
Security , 11/18/2020 11:37 Baghdad - Iraq today:
The spokesman for the Commander-in-Chief of the Iraqi Armed Forces, Major General Yahya Rasoul, confirmed that "some people intend to find an excuse to destabilize security" in the country.
The military spokesman's comment came after the fortified Green Zone in the Iraqi capital, Baghdad, was targeted by seven Katyusha rockets, late Tuesday night.
In a statement, the Joint Operations Command announced that a child was killed and five civilians were wounded, as four rockets landed inside the Green Zone and three in its vicinity.
Rasul said, "The Iraqi government continues to work for a secure and stable Iraq, but some are trying to find an excuse to bomb areas in the capital with the aim of destabilizing security, and the result was the death of a child and the wounding of five civilians who are not guilty."
The Joint Operations Command said in its statement that the attack " It will not pass without prosecution and reckoning. "And if"
She added that despite "the Iraqi government continuing to achieve sovereign gains, and raising the level of professionalism and competence of our security forces and their readiness to confront terrorist threats ... some outlaw forces insist ... and reaffirm their bet on shuffling the cards and fighting stability, in order to serve their far-reaching narrow interests and goals." For the national interest. "
This attack coincided with Washington's announcement that it would withdraw 500 of its soldiers from Iraq, leaving 2,500 soldiers in it. LINK
Samson: Iraq announces the withdrawal of hundreds of US forces: the remaining non-combat elements
18th November, 2020
The Iraqi Foreign Minister, Fuad Hussein announced on Wednesday that Baghdad and Washington had reached an agreement on the withdrawal of 500 US forces from the country, bringing the number of those forces down to 2,500.
Fouad Hussein said in a press conference held today, that "after the important communication and consultation between Prime Minister Mustafa Al-Kazemi and US Secretary of State Mike Pompeo, it was agreed to announce the withdrawal of 500 other US forces, bringing the total number of those forces present in Iraq to 2,500. an item". He added, "We have entered the fourth and final stage of the withdrawal of US forces, and when we talk about this stage, we have reached zero and that the combat operations which were the reason for the presence of foreign forces in Iraq will end," stressing that the US forces that will remain in Iraq are not combat.
The minister continued by saying that "foreign forces came from 80 countries to the country at the request of the federal government," adding that "in light of the military reports and in the military sense, ISIS has been defeated, but at the same time its terrorist cells are still present in the Hamrin hills, the Badia desert, and the south." West of Anbar, the outskirts of Kirkuk, and on the other side in Syria." Hussein noted that the federal government will continue to coordinate with its US counterpart, stressing that future work with the American side will continue in the field of intelligence information, military advice and training of Iraqi forces.
On Tuesday, the Pentagon announced that it would reduce the number of US forces in Iraq and Afghanistan. Acting US Defense Secretary Christopher Miller said the Pentagon would begin withdrawing part of US forces from Afghanistan and Iraq. Miller added that the number of US forces in Iraq would be reduced from 3,200 to 2,500, and in Afghanistan from about 4,500 to 2,500. He indicated that the decision to reduce the forces was taken based on the directions of the outgoing US President Donald Trump and after consulting with the National Security Council and military leaders.
The leader of the Republican majority in the US Senate, Senator Mitch McConnell, issued a warning to his ally, President Donald Trump, against accelerating the pace of the withdrawal of US forces from Afghanistan or Iraq, considering that such a measure would give extremist movements a " great propaganda victory."
McConnell said in a speech in the Senate that "the consequences of a premature US withdrawal may be even worse than Obama's withdrawal from Iraq in 2011, which led to the rise of ISIS." He added that such a withdrawal would represent a "abandonment" by the United States of its allies, would pave the way for the Taliban movement to extend its influence in Afghanistan, and would allow ISIS and Al Qaeda to regroup in Iraq. LINK
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Don961: Al-Kazemi reveals for the first time that he has been pressured to release "corruption whales"
Policy , 11/17/2020 23:09 Baghdad - Iraq today:
The Iraqi Prime Minister, Mustafa Al-Kazemi, revealed on Tuesday that he was under pressure to release what he called "corruption whales."
"The people, the religious authority and the political blocs ask me to fight corruption," Al-Kazemi said in a press conference after heading the weekly meeting of his government in Baghdad.
He added that he faced pressure from "unnamed" parties, after the arrest of a number of corruption suspects, indicating that the lobbying parties were calling for the release of "corruption whales."
Al-Kazemi noted that "some people are passing incorrect information about the torture of these corrupt people to human rights."
During the formation of his government last May, Al-Kazemi pledged to fight widespread corruption in the joints of the state, and is considered a major reason for the failure of successive governments to improve the country's situation, despite the large financial revenues from the sale of oil at the time.
The fight against corruption was at the top of the demands of massive protests that Iraq witnessed over a whole year, starting from October 2019.
Iraq is among the countries in the world that witnesses more corruption, according to the Transparency International Index over the past years.
Regarding the elections, Al-Kazemi said, "There was a meeting between the three presidencies, in the presence of the head of the Supreme Judicial Council and the High Electoral Commission, regarding holding the elections."
He added that his government had drafted a bill to secure financing for holding the elections on the date set for the sixth of next June.
Al-Kazemi indicated that the Electoral Commission was the first to be affected by the borrowing law for not allocating funds to it.
Regarding the strategic dialogue with the United States of America, Al-Kazemi said, "I went to Washington and agreed with the officials on the redeployment of forces abroad, and the withdrawal of the forces from the military bases."
He added that "the strategic dialogue team continues its meetings to reach a final formula on the American withdrawal from Iraq." LINK
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Don961: Memorandum of Understanding for the advancement of the Iraqi banking system
Tuesday 17th November 2020 Baghdad: Morning
The Association of Private Banks and the American Information Systems Audit and Control Association signed a Memorandum of Understanding on governance, security and auditing of information technology.
The executive director of the association, Ali Tariq, said, "The signing of the memorandum of understanding between the association and the Information Systems Audit and Control Association" ISACA ", which is headquartered in America, comes to enhance cooperation in the areas of governance, security and auditing of information technology, and that this step will add new to the national financial sector, which is in a stage. Moving to a new, more developed reality despite all the challenges. "
Big numbers
Tariq pointed out that "communicating with global institutions in the financial sector enhances the world's confidence in the national banking system, which has a pivotal task in supporting the economic activities that the country seeks during the next stage, especially since the volume of work in the country is large and needs an effective and capable banking system. To deal with Big numbers ".
He pointed out that "through the Memorandum of Understanding, the process of developing human resources for workers in the financial sector will take place, a prepared plan for this regard, and includes training, workshops and awareness programs to adhere to the instructions of the Central Bank of Iraq in the field of compliance with standards and controls of information technology and digital security."
Information security
The Iraqi Private Banks Association said in a press release, "The Executive Director of the Association of Private Banks Ali Tariq and the Director of the Iraq Branch of the Association for Auditing and Monitoring Global Information Systems, Ali Mustafa, signed a memorandum of understanding in Baghdad in the fields of qualification, training, workshops, consulting, governance and information security," adding This memorandum will assist the financial sector in achieving global requirements in the field of information technology, information and cyber security. " LINK
Don961L An expert reassures about Iraq's internal and external debts: What is published is half the real numbers
463 Economie 2020/11/17 18:48
Baghdad Today _ Follow up
The financial and banking expert, Mahmoud Dagher, revealed today, Tuesday, the size of the internal and external Iraqi debt by the year 2021, while referring to exaggerated "missile" statements regarding Iraqi debt.
Mahmoud Dagher said, in a televised interview that she followed (Baghdad Today), that "Iraq will enter the year 2021 with a real debt that does not exceed 83 billion dollars, which is 56 internal and external 27 billion dollars," indicating that "there is a so-called outstanding external debt 41 billion A dollar, 85% of which has been liquidated, and most of the foreign debt is political, and no one is asking for it. "
Dagher added, "The talk about 160 billion dollars as debts on Iraq is exaggerated, and the total internal and external bureau does not exceed 83 billion, and this is what you deal with," indicating that "there are those who launch missiles (numbers) that are exaggerated and do not know whether the target is Including planting frustration or motivation. " He continued, "To say that the financial crisis is political is inaccurate.
There is a real financial distress that has caused delays in paying salaries and going towards loans to pay it off."
The financial expert pointed out that "the economic behavior in 2019 had a great impact on the financial crisis. The opening of appointments after the October Revolution added a burden to the salary budget, as it rose from 43 trillion dinars annually to 55 trillion," noting that "the last months in the previous government witnessed Big spending, in addition to entering into dreamy agreements that have damaged the economy. "
Economists talk about a "real bankruptcy", not with the money the Iraqi state witnesses in the process of managing the country's economic system, which ranks fourth in oil, and second in global oil reserves.
According to press reports and statements of economists, the external debt owed by Iraq ranges between 80 and 160 billion dollars.
Earlier, a member of the Parliamentary Finance Committee, Abd al-Hadi al-Saadawi, confirmed that the budget for next year 2021 does not include a reduction in the salaries of employees, while revealing the size of the internal and external debts of Iraq.
A member of the committee, Abd al-Hadi al-Saadawi, said that the total internal and external debts of Iraq amounted to more than $ 160 billion, indicating that the total debt rose after the approval of the fiscal deficit law during the past months.
He added that "the external debts owed by Iraq and established within (Paris Club, Kuwait debts and the Iraq-Iran war) amounted to more than 136 billion dollars, and the total volume of debts increased after the increase in external borrowing after 2014 and until now, bringing the total debt to more than 160 billion Most of the dollars are foreign debts, and have a very high interest rate.
" Al-Saadawi explained, "Parliament voted on the first borrowing law that the government presented to parliament for 5 billion dollars in external borrowing and 15 trillion dinars in internal borrowing, to pay the salaries of employees until the end of the year," warning that "the state's continuation of external and internal borrowing will lead to declaring the country bankrupt in a way." Full".
He continued by saying that "the government has spent sums of internal borrowing outside the legal frameworks, and we need data from the Ministry of Finance that clarify the mechanisms and outlets of spending," indicating that "the borrowing and local revenues of the state were divided into two parts, which is that 80% of these funds are for the operational budget and 20% for the budget Investment, as the 20% investment was divided into two parts, 50% for ministries' projects, and the same for regional development projects.
With regard to salaries, he pointed out that "the 2021 budget does not include a reduction in the salaries of state employees, and that the (white paper) presented by the government and voted on by Parliament does not include measures to reduce employees' salaries, but only includes allocations for employees of special grades," stressing that " (The White Paper) has not been translated into a budget to be sent to Parliament to find out about the terms of its disbursement. "
El Saadawi concluded by saying that the Finance Committee is waiting for the government to send the budget next year 2021 for discussion and presentation to the House of Representatives for a vote.
It is worth noting that Iraq paid, last year, 2019, loans payable with interest amounting to about 14 trillion dinars. LINK
MilitiaMan "Iraq is in the Driver's Seat, Now to just Buckle Up and Put Her in Gear!" 11-16-2020
.KTFA:
Samson: Economist: Two ways to bridge the deficit in the budget for the next year, one of which is borrowing from individuals
15th November, 2020
On Sunday, the economic expert, Mazhar Muhammad Salih, identified two ways for the country to fill the actual deficit in the budget for next year, while noting that this time borrowing will be from individuals
Saleh said in a press statement seen by "Al-Eqtisad News", that "the large financial surplus of individuals is important in internal investment, and reducing the deficit in the next budget
KTFA:
Samson: Economist: Two ways to bridge the deficit in the budget for the next year, one of which is borrowing from individuals
15th November, 2020
On Sunday, the economic expert, Mazhar Muhammad Salih, identified two ways for the country to fill the actual deficit in the budget for next year, while noting that this time borrowing will be from individuals
Saleh said in a press statement seen by "Al-Eqtisad News", that "the large financial surplus of individuals is important in internal investment, and reducing the deficit in the next budget
He added that if the budget for next year is built on an actual and not hypothetical deficit then it will be financed from the oil price differentials when the oil market improves for the benefit of exporters, then the deficit will only be financed by borrowing. He pointed out that
"there may be a greater role for external borrowing and internal borrowing this time and will be directly from individuals or the public, through making substantial improvements to the secondary market that handles buying and selling debt
He pointed out that "the Iraq Stock Exchange will have a fundamental role in expressing the secondary market and promoting dealing with financial debt instruments, among the public directly as individuals and institutions.
He explained, "There is a large financial surplus among the public, concentrated in the form of hoarding disconnected from the income cycle," indicating that "the national economy desperately needs it in moving real material and human resources, through investment and its financing from Iraq's internal financial energies LINK
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Samson: Erbil Stock Exchange announces its opening near to investors
15th November, 2020
The director of the Erbil Stock Exchange, Sherwan Mustafa, announced that the Erbil Stock Exchange will open in the coming days after removing obstacles, calling for the inclusion of large investment companies on the stock exchange
Mustafa said, that all circumstances have been removed before the opening of the Erbil Stock Exchange, as during the coming days the stock exchange will open to investors, adding that consulting companies will be present to provide advice to new investors
Mustafa called for the large investment companies to be listed on the stock exchange because they get great privileges represented by tax exemptions, explaining that there are a number of companies that create excuses for not LINK
MilitiaMan: The connection and timing for these articles are timed accordingly, imo. The Kurdistan stock exchange is getting incentives by tax exemptions for large companies to list on the stock exchange. All circumstances have been removed..
Then below is the stock exchange is effectively looking into tapping another source of large amounts of money within the secondary markets.
We were just told that the borrowing law was legislated the other day. Apparently it was done at a program rate. Yet, the salaries were yet to be fully paid it appears. Ask yourself why that would be the case, especially when they tell us that the CBI has only 35 Billion in reserves left now, a recent drop of about 33 billion?
Did the CBI do a bridge loan for a short term move while they get the stock exchanges interlinked in a few days while targeting the chunky money from the citizens? I don’t know, maybe Delta, Frank and WS will weigh in on the topic?
It is hard to imagine that they would have been given the nod to do so by the IMF and or WB to be able to spend that kind of money out of reserves and at such a critical time as this, with out something to be a financial offset or safeguard It goes against all that we have learned and shown by actions from the CBI to not deplete reserves like they have suggested they did.
I wonder if the potential of a placement in new issue of IQD has been done on the platforms (noted in the final article thread) with the backing of those reserves for a short term only. They seem to have had plenty of time to cut a deal that could be equitable for all included and it would garner support from the locals in a big way..
Any one have thoughts on this love to hear it. Because when I read that the ISX is to have a fundamental roll in the secondary market and promoting, dealing with financial debt reeks that there is something much bigger afoot than a program rate for the next few months. The ISX has never ever had a fundamental role as long as I have been in this study in regard to being fundamentally active in any roll of financial debt deals on an international scale, publicly anyway!! Imo
Now, when they change the rate of the IQD internationally it should be or can be used as a debt instrument and the citizens have it on mass in their possession. Imo Now that is imo a very plausible scenario that is or could be being guarded until the last moment.. We shall see if the SA banks open soon and the Arar port!! Internationalism is the goal.. ~ MM
“Iraq Stock Exchange will have a fundamental role in expressing the secondary market and promoting dealing with financial debt instruments, among the public directly as individuals and institutions.”
Don961: An international coalition and a white paper .. Will they save "Iraq" from economic recession?
The Independent / Amal Nabil /
After months of conflict between the Iraqi government and parliament, the Iraqi parliament approved on November 12 a deficit law that allows Iraq to borrow 12 trillion dinars ($ 10 billion), which will give Iraq only three months to pay the salaries of public employees. .
At the same time, the Iraqi government is looking for other sources of funding, according to a report by Al-Monitor.
An international coalition to recover the looted Iraqi funds
On November 4, Finance Minister Ali Allawi said that the newly established International Financial Alliance will help Iraq recover $ 150 billion of the money stolen from the country since 2003, adding that the funds are deposited in foreign and Arab banks and that the alliance will provide technology and expertise to support the economy.
During the visit of Prime Minister Mustafa Al-Kazemi and a number of ministers to London, an international financial alliance called the Iraqi Economic Contact Group was established on 22 October.
It consists of the Group of Seven, the International Monetary Fund, the World Bank, the European Bank for Reconstruction and Development, the Iraqi Ministry of Finance, the Central Bank of Iraq, and the Finance Committee.
The coalition meets every three months to monitor progress in the Iraqi economy, and will present a roadmap to support priorities in terms of reforms, mobilize international support and benefit from international expertise to enhance economic stability and add vital changes to achieve economic growth.
The financing needs of Iraq reach 62 billion dollars
The coalition is scheduled to operate for three years and Iraq faces a stifling financial crisis, after the drop in oil prices due to the Coronavirus pandemic. According to the 2020 budget, Iraq needs $ 62 billion, of which $ 45.8 billion is for public employees' salaries, pensions and social benefits, while Iraq needs $ 6.6 billion to pay off internal debts and Eurobonds.
The remainder will be allocated to foreign oil companies and support programs, also known as the ration card, electricity imports, and to cover the expenses of some ministries.
Allawi told Al-Iraqiya TV on November 4 that the coalition will provide experts in managing economic sectors, and that they will act as advisers to the government, with a primary focus on reforming the economy and improving the administrative performance of the public and private sectors.
He pointed out that Iraq is going through a difficult economic period because the state's finances are out of control and reforms must be achieved. He added that if the status quo continues.
Allawi said that it is in the interest of many countries to help Iraq and put its economy on the right track, especially since the country is a promising market for Western investment.
He stated that the coalition will help Iraq recover more than $ 150 billion in funds that were stolen before and after 2003
At the Tokyo summit in May 2016, the G7 formed a financial coalition to support Iraq economically and financially, and provided loans worth $ 5.2 billion through the International Monetary Fund, along with a two-month reform program. In addition, the Iraq Reconstruction Conference was held in Kuwait in November 2018.
Iraq is a member of OPEC which, along with other oil-rich countries outside of OPEC, including Russia and Azerbaijan, signed an agreement called the OPEC + agreement.
93% decline in Iraqi oil revenues
The current second phase of this agreement stipulates that Iraq will reduce its oil production by 849 thousand barrels per day. Oil revenues, on which the Iraqi budget depends, declined by 93%, from $ 6.4 billion this time last year to $ 3.5 billion per month, as a result of declining exports and a drop in oil prices.
Thus, Iraq needs $ 5.16 billion a month to meet its core budget expenditures.
Ahmed al-Hajj, a member of the Parliamentary Finance Committee contributing to the newly formed financial alliance, told Al-Monitor that the International Financial Alliance had agreed to a request to exempt Iraq from OPEC + obligations. He indicated that the International Financial Alliance will provide consultations without loans because most of the countries of the world are suffering from a financial crisis due to the Coronavirus pandemic.
He added that the credit rating of Iraq stands at B-, which does not qualify it to obtain foreign loans.
Iraq's debt reached $ 133.3 billion in September, and constitutes 80% of GDP, which crosses the red line with 60% of the debt-to-GDP ratio.
Iraq's debt accounts for 80% of GDP
Iraq's debt reached $ 133.3 billion in September, making up 80% of its GDP, which crosses the red line with 60% of its debt-to-GDP ratio.
The white paper confirms the seriousness of Iraq in reforming its financial situation
The Al-Kazemi government issued a white paper on economic reforms that includes solving problems in the non-oil sector, reducing dependence on oil by 93% over the next three years, and activating the role of the private sector.
Ahmed Al-Tabakshli, a professor at the American University in Sulaymaniyah, told Al-Monitor that the expenditures are large and cannot be covered from budget revenues.
He pointed out that the white paper on economic reform shows the international community that Iraq is serious about reforming its economic and financial situation. He stressed that the international community does not want to see shy reforms as was the case in the past, indicating that the new international alliance might push the International Monetary Fund to sign a new loan agreement with Iraq.
Tabaqashli indicated that the coalition will help Iraq in the areas of technology and governance, and help it implement measures to control non-oil revenues, such as tax revenues and border crossings.
He made it clear that Iraq could not bear additional debts without the new alliance.
The post An International Alliance and a White Paper ... Will They Save "Iraq" from Economic Recession? appeared first on Independent Press Agency. LINK
MilitiaMan: So there is a collation or an alliance of the most powerful Financial entities out there working to facilitate alongside Iraq while the country head into a market economy.
If they spent 33 billion of their reserves which it is truly not all that clear to me that they did. As this article suggests they have made arrangements for 12 trillion or $10 billion. They also say since they have only a B- credit rating they can’t borrow externally. They can’t get foreign loans.
\ But, take note that the coalition is working to help recover $150 billion in stolen monies. Sound to me like a carrot is out in front and they may have to go into the secondary markets to to get that money released.. Interesting.. is that why, if they did spend $33 billion of their reserves things seem to still be on track to open internationally? Kind looks like Iraq is being coaxed along the way to put her big girl dress on.. Lol imo .. Hope she doesn’t break a heal of get a run in her stockings or anything.. ha.. – MM
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MilitiaMan: Now add this into the mix of what they have on the mind.. The articles today and recently talk about the stock exchanges and the secondary markets. The below from Dons posts, shows what we are talking about fits with going international and with proper “monetary tools” of the Central Bank! They want it back at a good level too!! Their words and not mine.. imo ~ MM
“4. Using various monetary policy tools in order to control inflation and restore the Iraqi dinar exchange rate to a good level, as it was before the Iraq - Iran war (1 dinar pound equals $ 3.30) by activating and activating the monetary tools of the Central Bank with Increasing the activity of the stock market and the banking sector. “
MilitiaMan: Lets not forget and it is key, that they can and will be able to internally borrow with an exchange rate like they had in the past. My view is if and when they do get back to where they were, that could usher in the stolen monies in the tune of $150 billion. That along with a new exchange rate would help establish a better credit rating, just as automation at the borders and ports will..
Iraq is in the drivers seat, now to just buckle up and put her in gear now!! Lol - MM
KTFA Members "News and Views" Sunday PM 11-15-2020
.KTFA:
OlLar: Calling for the inclusion of Large investment companies ? In the coming days?
Samson: Erbil Stock Exchange announces its opening near to investors
15th November, 2020
The director of the Erbil Stock Exchange, Sherwan Mustafa, announced that the Erbil Stock Exchange will open in the coming days after removing obstacles, calling for the inclusion of large investment companies on the stock exchange
Mustafa said, that all circumstances have been removed before the opening of the Erbil Stock Exchange, as during the coming days the stock exchange will open to investors, adding that consulting companies will be present to provide advice to new investors
Mustafa called for the large investment companies to be listed on the stock exchange because they get great privileges represented by tax exemptions, explaining that there are a number of companies that create excuses for not being listed on the stock exchange
KTFA:
OlLar: Calling for the inclusion of Large investment companies ? In the coming days?
Samson: Erbil Stock Exchange announces its opening near to investors
15th November, 2020
The director of the Erbil Stock Exchange, Sherwan Mustafa, announced that the Erbil Stock Exchange will open in the coming days after removing obstacles, calling for the inclusion of large investment companies on the stock exchange
Mustafa said, that all circumstances have been removed before the opening of the Erbil Stock Exchange, as during the coming days the stock exchange will open to investors, adding that consulting companies will be present to provide advice to new investors
Mustafa called for the large investment companies to be listed on the stock exchange because they get great privileges represented by tax exemptions, explaining that there are a number of companies that create excuses for not being listed on the stock exchange LINK
Samson: Parliamentary Finance issues conflicting figures about Iraq's debt ... and its President: $ 70 billion owed by us!
15th November, 2020 (In reference to post 44)
The head of the Parliamentary Finance Committee, Haitham al-Jubouri, announced, on Sunday, that the volume of external and internal debts owed by the Iraqi government amounted to $ 70 billion, contradicting what a member of his committee, Abdul Hadi al-Saadawi, confirmed that the country's debts amounted to $160 billion
Al-Jubouri said in a brief statement today (November 15, 2020) followed by Digital Media NRT, that "a lot is being asked about the size of the debts on the Iraqi state ... the total debt is $ 70 billion. He added that "the external, including 24 billion dollars, and the internal 46 billion dollars
As a member of the committee, Abdul Hadi Al-Saadawi, said in a statement reported by Al-Sabah newspaper, that the total internal and external debts of Iraq amounted to more than $ 160 billion, indicating that the total debt increased after the approval of the fiscal deficit law during the past months
He added that “the external debts owed by Iraq and established within (the Paris Club, Kuwait debts and the Iraq-Iran war) amounted to more than 136 billion dollars, and the total volume of debts increased after the increase in external borrowing after 2014 and until now, bringing the total debt to more than 160 billion Most of the dollars are foreign debts, and have a very high interest rate
He continued by saying that “the government has spent sums of internal borrowing outside the legal frameworks, and we need data from the Ministry of Finance that clarify the mechanisms and outlets of spending,” indicating that “the borrowing and local revenues of the state were divided into two parts, which is that 80% of these funds are for the operational budget and 20% for the budget. Investment, where the 20% investment was divided into two parts; 50% for ministries' projects, and the same for regional development projects LINK
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Don961: After the conclusion of the last months, the eyes are “apprehensive” from 2021: Iraq’s only bet may be a “loser” ... and the economy is in “dire need” for a treasure lurking in the homes of Iraqis
2020-11-15 Yes Iraq: Baghdad
After the passage of the borrowing law, and the solution to the crisis issue of salaries for the remaining months of this year, frightening expectations about the next year began to appear, carrying with it news that was not much different from the current year.
Amidst the push and pull and severe rejection through which the borrowing law was difficult to pass, it seems that Iraq is promised more borrowing in the next year.
The national economy is “desperately needed” for a solution latent in Iraqi homes
On Sunday, the economic expert, Mazhar Muhammad Salih, identified two roads for the country to fill the actual deficit in the budget for next year, while noting that borrowing will be this time from individuals.
Saleh said in a press statement followed by "Yes Iraq", "The large financial surplus of individuals is important in internal investment, and reducing the state of deficit in the next budget."
He added that if the budget for next year is based on an actual and not hypothetical deficit, then it will be financed from the oil price differentials when the oil market improves for the benefit of exporters, then the deficit is only funded by borrowing.
He pointed out that "there may be a greater role for external borrowing this time, and internal borrowing this time will be directly from individuals or the public, by making substantial improvements to the secondary market that handles buying and selling."
He pointed out that "the Iraq Stock Exchange will have a fundamental role in expressing the secondary market and promoting dealing with financial debt instruments, among the public directly as individuals and institutions."
He explained, "There is a large financial surplus among the public, concentrated in the form of hoarding disconnected from the income cycle," indicating that "the national economy urgently needs it in moving real material and human resources, through investment and its financing from Iraq's internal financial energies."
We will borrow and borrow!
Earlier, the economist, Nabil Al-Marsoumi, wrote "shocking" lines about the country's economic situation, while addressing the "dissatisfied" with borrowing and those speaking about resorting to non-oil revenues.
Al-Marsoumi said in a blog posted by "Yes Iraq": "Why discontent with borrowing? It is a country totally dependent on oil, whose revenues constitute 99% of total exports, more than half of the GDP and 93% of public revenues."
He added, "Iraq does not have a diversified production base and does not have new resources that generate foreign currencies except oil. Oil in Iraq, gentlemen, is the backbone of economic life and it is the main engine for it, and without it, the country's revenues become zero or so."
He continued: “Even non-oil revenues depend on oil, our dinar derives its power from oil, our imports depend on oil, we import everything and we do not export anything, our incomes depend on oil, our agriculture and our industry are disrupted, but even our oil has been referred to foreigners to extract it from under our feet. “.
And he continued: "What other resources are you talking about, politicians who did not think and not contemplate the black day that we are going through today. You have spent hundreds of billions of dollars and yet you have failed not in building a diversified economy but even in establishing a sovereign fund that could be the repercussion of days of crisis." .
Al-Marsoumi stressed: “We will borrow, borrow and borrow until Corona dies or God decides something that was in effect!”.link
Godlover: The articles are becoming even more encouraging for what we seek within the 2021 budget imo. I realize this is someone that may be in the know, however he talks in the article of something many on this forum have stated as well, that just does not make sense to me imo. Frank as well has stated it, but it seems to go against what WS had stated long ago imo. Why the supposed necessity to get citizens to the banks to deposit there stash of cash? WS had stated the NSCN's & the large notes would coexist with equal value imo. That would mean that a 25k IQD note would have the same value as a 25 IQD note imo. The citizens would over time return the large bills to the banks imo. As well, the necessity of bank accounts would be accomplished after the release of the NSCN's/ RI imo.
Deepwoodz: Imo....agreed Godlover! I don’t see any delay due to salaries. Of course I am just an electrician. The 1:1 in country makes it dummy proof in my mind. The phrase “drop the 3 zeros” helps as well. If they pay salaries now, like they’ve said, it’s electronically. These funds can have 3 zeros dropped just as easy as the push of a rate change button.
Citizens should have no problem understanding that,just like they shouldn’t have a problem understanding a 25k is now a 25 once those nscn’s come out.
No reason to say you can’t change the rate.
Don961: The huge numbers are not "important": Iraq's debt ratio is "low" compared to other countries ... but a "minor point" makes it "the most dangerous."
2020-11-15 Yes Iraq: Baghdad
An economist revealed, the general situation of Iraq's debt, which seems "reassuring" in numbers compared to other countries, but the goal behind borrowing is more dangerous threatening the country.
Business expert Manar Al-Obeidi said, in a blog posted by "Yass Iraq", that "the numbers differed about the value of public debt, but the most correct figures are $ 70 billion, including $ 24 billion in foreign debts." There are two factors that affect the effect of public debt on the economy.
Regarding these two factors, Al-Obaidi shows that the first factor is “the ratio of public debt to GDP, and the proportion of Iraq is reasonable, as the ratio is around 30%, which is good if compared to the general average for countries as it reached close to 100% and some countries such as Japan, the public debt reached 238%. Of the GDP and Lebanon, whose debt-to-GDP ratio has reached 150%.
He pointed out that it is "a percentage that shows the possibility of the state repaying the debt through the domestic product, and the smaller the percentage, the more possible the possibility of repaying the debt."
As for the second factor, which is the areas of debt disbursement, Al-Obeidi explains that “many countries borrow for development projects that contribute to increasing the domestic product through investment projects and projects that perpetuate the community. Often countries have assets equal to or increase the value of the debt, but if the debt is As in the case of Iraq, it has mostly gone to operating expenses such as the disbursement of salaries and other things. It is a dangerous indication that these debts are not equivalent to real assets such as investment projects and the like equivalent to the value of those debts, and that these debts have gone unheeded.
He considered that "Iraq still has an opportunity to increase external borrowing to build development investment projects that contribute to strengthening its economy, providing real job opportunities and diversifying the revenues of the Iraqi government. However, the main reason for not borrowing for development goals is the lack of transparency of government programs and fear of bureaucracy and corruption, which prevent the donors of loans in Providing long-term loans that contribute to building an effective and strong Iraqi economy.
The main thing is to dissolve all obstacles to investment and reduce bureaucracy and corruption, which are the basis for the development of the Iraqi economy, which suffers from its mismanagement and ineffective laws. link
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Samson: The arrest of counterfeit currency dealers in central Baghdad
15th November, 2020
A security force affiliated with the intelligence agency managed to arrest counterfeit currency dealers in the center of the capital, Baghdad.
A statement by the Intelligence Agency and received by (Al-Mustaqillah) today, Sunday, said that a force from the Baghdad Intelligence Directorate at the Ministry of the Interior managed to arrest two suspects trading in counterfeit currency in the Bab al-Sheikh area of Baghdad.
The statement added that the two defendants were arrested with the flagrante delicto and in possession of three million fake Iraqi dinars, denominated in ten thousand dinars.
He pointed out that the counterfeit currency was seized in a seizure report and delivered with the accused to the competent authorities according to a fundamentalist receipt. LINK
Samson: An Iraqi government official was arrested on charges of bribery
16th November 2020
On Sunday, the Federal Integrity Commission announced the implementation of the arrest warrant issued against the General Director of Kirkuk Education, indicating that the order was issued based on the provisions of Article 307/1 of the Penal Code.
The investigation department of the authority, in its discussion of the details of the implementation of the arrest warrant issued by the judiciary, noted that the staff of the authority's investigation office in the governorate, under the supervision of the katoon enforcement agencies, implemented the arrest warrant issued against the General Director of Kirkuk Education. On charges of bribery. The department continued, explaining that the subject of the accusation was that the accused took sums of money in exchange for granting a position (department official) in the directorate. As a result, the court order issued against him was implemented.
The accused, accompanied by seized criminal exhibits and preliminary investigative papers, was brought to the competent investigating judge, as his statements were recorded in a court of law, and the judge decided to release him on a financial guarantee of ten million dinars.
On the twenty-second of last July, the Commission announced the issuance of an arrest warrant against the General Director of Kirkuk Governorate Education and members of the Pricing Committee, based on the provisions of Article (340) of the Penal Code, against the background of suspicions of wasting public money in the matter of maintenance and restoration of the equipment section in Preserved breeding.
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Samson: Al-Kazemi's advisor talks about the stolen cards: We have distributed 13 million cards
15th January, 2020
Advisor to the Prime Minister for Elections Affairs, Abdul Hussein Al-Hindawi revealed, on Sunday, the distribution of 13 million biometric cards and 3 million under distribution, while indicating that the stolen cards will be disabled.
According to the official agency, Al-Hindawi said, "The biometric card is in the law, and about the past two months there was a meeting of the political blocs, in which they emphasized the importance of adopting biometrics exclusively in voting in the upcoming elections."
He added, "The Commission's work is continuing in this direction, and there are more than 63 percent of the long-term biometric card for voters ready, as nearly 13 million have been distributed, and 3 million are in the process of distribution."
He pointed out that "the commission is in the process of distributing the remainder of it, as well as completing the voters who have not yet registered in the biometrics." He stressed that "there are agreements with the relevant companies, as well as the existence of all plans, so that the commission is ready before the next elections." He explained, "The short-term card has been withdrawn, as the approval of the long-term biometric card is supposed to be exclusive in the upcoming elections."
He stated, "The voter who has updated his electoral record, the Commission will deliver the card to him in various ways, whether by mail or other mechanisms taken to deliver it to the voter." He stated, "Any stolen card will be unfit for use, and therefore it is idle," stressing that "the long-term biometric card granted by the commission cannot be stolen or made outside the law," stressing that "the commission is determined to distribute the biometric card." For everyone". He pointed out, "The old short-term cards that were used in the previous elections have no effect, so there is a campaign in which everyone should contribute to our encouragement, which is distributing the new card, because without it the voter cannot vote, unless there is any other decision."
He noted that "the commission has started working diligently to educate citizens and push them to register and receive the biometric card for elections exclusively." LINK
MilitiaMan at KTFA "This is About Over" Saturday Night 11-14-2020
.KTFA:
MilitiaMan: There is some very, good things a foot this past week leading into next week, in and for Iraq's future. It is a very bright future and it is about to take off running in a big way.
The writing is on the wall or in this case the ports and borders. The amount of money that is slated for reconstruction from the Kuwaiti Conference is in the 10s of billions. " When?
Well per the below link as early as tomorrow with respect to the Port of Arar.
The data shows that SA signed deals / contracts with Iraq and they will also capitalize on the tourist trade, as well as many other sources of revenues.
KTFA:
MilitiaMan: There is some very, good things a foot this past week leading into next week, in and for Iraq's future. It is a very bright future and it is about to take off running in a big way.
The writing is on the wall or in this case the ports and borders. The amount of money that is slated for reconstruction from the Kuwaiti Conference is in the 10s of billions. " When?
Well per the below link as early as tomorrow with respect to the Port of Arar.
The data shows that SA signed deals / contracts with Iraq and they will also capitalize on the tourist trade, as well as many other sources of revenues.
Saudi Arabia announces "mega projects" for it in Iraq and is glad to open Arar"
"There are giant projects that will be implemented in the next stage, and the presence of a new port in Arar is a tributary for these projects to enter Saudi goods and basic materials for projects that will be established inside Iraq in the fields of mining, energy, oil and agriculture."
His ministry signed several memoranda of understanding and agreements with the Saudi side during the work of the Iraqi-Saudi Coordination Committee, most notably the agreement to open a new Arar border crossing, which will be inaugurated and operational after (7) days, as well as the conduct of the shipping line between Iraqi ports and Saudi Arabia."LINK
MilitiaMan: So if we back up a bit we see this last week that Kahdimi and teams met up with his and their counterparts from SA in the Iraqi - Saudi Coordination Committee. K even visited with the King. That didn't happen under Marhdi. Mahdi failed at "rapprochement" and lacked "strategic depth". Well they have both now between these two countries. Kahdimi an imo Trump made this happen.. imo
The deals that got signed were last Sunday between Iraq and SA. They state 7 days for the border to open at Arar. That is tomorrow out to Tuesday. Interesting, that is the tomorrow is the day that Kahdimi told them to pay the salaries whereby the borrowing law allowed for them to be paid. Below is showing that on the 10th the Coordination Council met for two days prior.. All coinciding with the opening of Arar.
The Kuwait Conference was not activated. The tens of billions of dollars is now ready for that and more to get started.
Notice below that Kadhimi talks of Salaries in the same breathe as the funding of the Kuwait projects. The question is, with the international borders opening and the automation of payments for taxation, salaries, fees, etc, will they have a program rate associated with new opening internationally or will the new issue be different?
They did not implement the monies for upwards of three years now? Why now? Well, if Iraq is to be fully article 8 compliant they'll need the rate to change to reflect that.
The borrowing law was legislated and is to be enforce. That suggests they have the ability to borrow. But, liquidity suggests that couldn't be done at at program rate.. imo.
But, if we look back we know (FA) that the IQD has been trading in platforms. Thus, it suggests to me that the G7 et al, have had the ability for exchange trade. Just as the Saudi's say they have been doing and will increase once the port is open..
My thinking is that the ports opening, the funding or KW projects and the salaries to be paid tomorrow are not a coincidence. At least they are closely linked to the coming days or so. So, from the sounds of all the data out, this is about over. The amount of data out or between Iraq and SA reeks of what WS and Frank have said in the past.
If SA is on board, game over.. I have to agree that is sure looks that way.. imo ~ MM
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Rapprochement : (especially in international relations) an establishment or resumption of harmonious relations.
"there were signs of a growing rapprochement between the two countries"
Strategic depth, in Military terms, refers to the internal distance within a state from ... its core population areas or important cities or industrial installations. ... economic and military co-operations between those countries having ...
"A Saudi delegation arrived in Baghdad on Sunday morning to hold a meeting of the Iraqi-Saudi committee, and the delegation included officials from the ministries of energy, electricity, oil, industry, environment and a number of important Saudi companies."
"An Iraqi government source stated, on Sunday, that a meeting had been held between Prime Minister Mustafa Al-Kazemi and the Saudi King via satellite." LINK
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The Saudi delegation expresses to Al-Halbousi its desire for "openness" and reveals upcoming visits
The Saudi delegation included the Minister of Environment, Water and Agriculture Abdul Rahman Al-Fadhli, Minister of Industry and Mineral Resources Bandar Al-Khorayef, Governor of the General Authority for Foreign Trade Abdul Rahman Al-Harbi, Deputy Minister of Energy Abed Al-Saadoun, Undersecretary of the Ministry of Investment Mr. Ayed Al-Otaibi, and the Secretary-General of the Saudi Export Development Authority Saleh Al-Sulami And the Ambassador of the Kingdom of Saudi Arabia to Iraq, Abdulaziz Al-Shammari. LINK
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Al-Kazemi meets tomorrow with the Saudi Crown Prince
Al-Kazemi confirmed last August that Saudi Arabia is a true partner for Iraq, and that Iraq is looking forward to building distinguished relations in order to achieve a better future for the two countries. He also stressed that the Gulf states are the "strategic depth" of Iraq. LINK
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Al-Kazemi announces the launch of salaries after the approval of the loan law
10th November, 2020
Prime Minister Mustafa Al-Kazemi confirmed, on Tuesday, that employees' salaries will be released after the borrowing law was approved.
In a statement received by Shafaq News, the Media Office quoted Al-Kazemi as saying at the cabinet session "Our meeting with the Finance Committee was positive, and it will contribute to launching the salaries of employees after the approval of the borrowing law." Al-Kazemi added; "The Iraqi-Saudi Coordinating Council held continuous meetings during the past two days, to reach a set of understandings regarding the sectors of industry, trade, agriculture, oil, education, culture and others."
"The spokesperson revealed funding for a number of vital projects stalled in Iraq, which have reached "advanced completion rates" through the Kuwait International Conference in Support of Iraq, and will be funded by the Saudi side. LINK
Amid Fierce Opposition ... Saudi Arabia Opens A Commercial Attaché In Baghdad LINK
Al-Kazemi meets tomorrow with the Saudi Crown Prince
Al-Kazemi confirmed last August that Saudi Arabia is a true partner for Iraq, and that Iraq is looking forward to building distinguished relations in order to achieve a better future for the two countries. He also stressed that the Gulf states are the "strategic depth" of Iraq. LINK
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Al-Kazemi announces the launch of salaries after the approval of the loan law
10th November, 2020
Prime Minister Mustafa Al-Kazemi confirmed, on Tuesday, that employees' salaries will be released after the borrowing law was approved.
In a statement received by Shafaq News, the Media Office quoted Al-Kazemi as saying at the cabinet session "Our meeting with the Finance Committee was positive, and it will contribute to launching the salaries of employees after the approval of the borrowing law." Al-Kazemi added; "The Iraqi-Saudi Coordinating Council held continuous meetings during the past two days, to reach a set of understandings regarding the sectors of industry, trade, agriculture, oil, education, culture and others."
"The spokesperson revealed funding for a number of vital projects stalled in Iraq, which have reached "advanced completion rates" through the Kuwait International Conference in Support of Iraq, and will be funded by the Saudi side. LINK
Amid Fierce Opposition ... Saudi Arabia Opens A Commercial Attaché In Baghdad LINK
"Saturday Iraq News" Posted by Samson 11-14-2020
.KTFA:
Samson: Alternative currencies to the "dollar" that protect against the risk of inflation
14th November, 2020
Dmitry Ivanov, Executive Director of "Kloppenko Group" said that buying more stable and less volatile currencies, such as the Swiss franc, the euro, the Japanese yen and the Chinese yuan, protects against the risk of inflation.
Ivanov also advised to make savings spread out in different currencies.
He said that this is what all central banks in the world do, which keep money in the national currency, in dollars, euros and other currencies, as well as in gold and silver.
KTFA:
Samson: Alternative currencies to the "dollar" that protect against the risk of inflation
14th November, 2020
Dmitry Ivanov, Executive Director of "Kloppenko Group" said that buying more stable and less volatile currencies, such as the Swiss franc, the euro, the Japanese yen and the Chinese yuan, protects against the risk of inflation.
Ivanov also advised to make savings spread out in different currencies.
He said that this is what all central banks in the world do, which keep money in the national currency, in dollars, euros and other currencies, as well as in gold and silver. LINK
Samson: A Demand To Limit Voting To The "Biometric Long-Term" Card To Prevent Vote Buying
14th November, 2020
The Legal Committee in the House of Representatives called for amending the election law and limiting voting to the "long-term biometric" card in order to prevent vote buying. This comes in parallel with the State of Law Coalition's disclosure of the "loss" of 4 million "short-term" electronic voter cards that allow voting. Through it, too, while the Electoral Commission denied the existence of such a number for lost cards.
A spokesman for the State of Law Coalition, Representative Bahaa Al-Din Al-Nuri, said in a statement to Al-Sabah, its independent affiliate: The law that was quickly voted on by using the (electronic) and (biometric) cards for voting will result in a forged political process in advance in light of the loss of 4 million electronic cards. From the Elections Commission, which has an unknown fate and it is not known if it was distributed among the political blocs or from the party that seized it.
Al-Nouri demanded that "elections be conducted with a biometric card only, to hold fair elections free of fraud."
For his part, a member of the legal committee, Hussein Al-Oqabi, assured to “Al-Sabah” that “amending the election law is an imperative, especially in the biometric vote, and there is also a need to amend other articles not only in this paragraph, but also include the contradiction in the individual or existing candidacy.”
Al-Sabah went to the official media spokesperson for the Independent High Electoral Commission, Jumana Al-Ghalai, to clarify the truth about the "lost cards" and their real numbers. Her answer was: "Beginning; There is no such number of lost cards, and the loss took place in previous elections, even before 2018, but in order to preserve the votes of the electorate, the electoral administration directed to submit a study on undelivered and lost voter cards and to form investigative committees to find out the circumstances of the accident, find out the negligent employees and punish them legally, and this was done.
Al-Ghalai confirmed that "all lost cards have been disabled and canceled, and will no longer work at all, and only the official owner of the card can vote because of the intersection of the fingerprint in the electronic verification device that relies on official and vital data (the personal photo and the ten fingerprint)." LINK
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Samson: President Saleh receives the Special Representative of the Secretary-General of the United Nations in Iraq
14th November, 2020
The President of the Republic, Barham Salih, received today, Saturday, the Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine Hennes Plasschaert.
During the meeting, it was stressed the need to start preparations for the upcoming elections by providing the utmost levels of integrity and transparency, and by coordinating the United Nations with the Electoral Commission in monitoring it, to reflect the voters’ real choices in choosing their representatives away from the power of arms, fraud and manipulation.
The meeting also stressed the importance of concerted national efforts in order to consolidate the authority and sovereignty of the state in enforcing the law, protecting citizens, continuing the war on terror and combating ISIS cells that seek to disturb security and stability in a number of regions.
Samson: "Borrowing funds" .. Fears of suspicions of corruption in paying employees' salaries
14th November, 2020
The Iraqi Parliament’s Economy and Investment Committee commented, today, Saturday, that there are concerns about suspicions of corruption or waste in disbursing loan funds, which were recently approved by the Council.
Committee member Nada Shaker Jawdat told Shafaq News, "There are no concerns about suspicions of corruption or waste in disbursing loan funds, as these funds are only intended to disburse employees' salaries, so no money remains until the corrupt steal it."
And Jawdat indicated that "some corrupt parties will benefit from the loan money, by disbursing the salaries of space employees, especially since there are terrifying numbers for such employees, and this is why Parliament voted for an obligation not to pay any salaries except through the card, and perhaps this method requires a long time until It includes all employees, but this helps save money and prevent corruption in the issue of employee salaries."
The Iraqi parliament had approved a bill to finance the fiscal deficit (borrowing) without including the salaries of the region’s employees in it, which prompted the Kurdish representatives to withdraw from the session, and that also sparked angry reactions in Kurdistan. LINK
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Soon, the Iraqi parliament intends to pass a law to eliminate cases of electronic blackmail
14th November, 2020
The Parliamentary Security and Defense Committee announced , on Saturday, that the Information Crimes Law is ready for voting in the next sessions, explaining that the law will eliminate hundreds of cases of electronic extortion.
A member of the committee, Badr Al-Ziyadi, told Shafaq News Agency, "The committees appointed in cooperation with the Parliamentary Security have put the final touches on the Information Crimes Law," indicating that "the committee agreed with the Presidency of the Parliament to include the law to vote on the agenda of the next sessions."
He added, "The purpose of legislating the Cybercrime Law is to eliminate hundreds of cases of electronic extortion that are recorded daily." "The law will include the formation of a special court for information crimes, through which it determines the penalties imposed on the blackmailer without any prejudice to public freedoms," Al-Ziyadi said.
It is noteworthy that Iraqi society has recently witnessed an increase in cases of extortion through social networking sites and electronic communication applications, especially for women, at a time when the judiciary loses the laws that punish these crimes. LINK
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An American Diplomat: The Threat To Close The Embassy In Baghdad Still Exists, And It Is A Serious Matter
14th November, 2020
The outgoing US special envoy to Syria, James Jeffrey, confirmed that the US State Department’s threats to close the embassy in Baghdad are still valid, which is very serious.
"The US State Department may close the US embassy in Baghdad if the Iraqi government does not put an end to attacks on foreign forces in the country," Al-Monitor newspaper quoted Jeffrey as saying. Jeffrey added that "this case is still ongoing and it was not a false matter but rather a very serious matter," while the US State Department did not respond to a request for comment.
The report stated that "Jeffrey's statements come at a time when news spread about the leakage of American documents containing personal information about Iraqis who worked with the International Coalition and US forces in the country during the period of the war on ISIS," noting that "the United States withdrew part of its forces in Iraq." As part of its transition to a new and limited advisory phase to support the International Coalition for the Iraqi Army.
And he stated that "3000 American soldiers are still present in Iraq, as speculation spread in the national security departments in Washington this week that the purge of outgoing President Donald Trump of many of the top leadership in the Pentagon may be a harbinger of a further withdrawal of forces."
The report pointed out that “Trump's orders to withdraw US forces from Middle Eastern countries met resistance from senior officials like Jeffrey, who openly admitted to undertaking a concerted effort to undermine the presidential orders, saying,“ We have twice succeeded in undermining Trump's orders to withdraw from Syria in 2018 and 2019, and this is the story. Briefly". LINK
Delta and KTFA Members "News and Views" 11-13-2020
.KTFA:
DELTA: Iran begins deleting zeros from its currency and a new banknote
Liberation: 2020/11/12 19:59 • 219 times
The Central Bank of the Islamic Republic of Iran has issued a new 100,000 riyal (equivalent to 10,000 tomans), printing 4 zeros in a light color in preparation for the removal of these zeros from the currency, as well as a 10-drawer drawer on both ends of the bottom of the banknote.
According to the Fars news agency, the Central Bank of Iran recently issued a new 100,000 riyals (10,000 toman) banknote, which included some differences with banknotes of this category, which are currently circulating.
The most important
KTFA:
DELTA: Iran begins deleting zeros from its currency and a new banknote
Liberation: 2020/11/12 19:59 • 219 times
The Central Bank of the Islamic Republic of Iran has issued a new 100,000 riyal (equivalent to 10,000 tomans), printing 4 zeros in a light color in preparation for the removal of these zeros from the currency, as well as a 10-drawer drawer on both ends of the bottom of the banknote.
According to the Fars news agency, the Central Bank of Iran recently issued a new 100,000 riyals (10,000 toman) banknote, which included some differences with banknotes of this category, which are currently circulating.
The most important of these changes is the printing of four of the five zeros in a light color, in preparation for the elimination of the four zeros from Iranian currencies.
The number 10 below the banknote is also listed on the left and right sides. as well as behind the banknote.
http://www.alliraqnews.com/mod.....yid=103819
DocMagee94: Delta, Could you clarify what significance this article has on our investment.
Thank you again!
DELTA: TIMING ......SOME COUNTRIES WILL DEVALUE SOME WILL RV..........IMOO
DELTA: Kazemi directs the payment of salaries of employees for the months of October and November next Sunday...
Don961: Al-Kazemi directs to pay employees' salaries for the months of October and the second
THURSDAY, 12-11-2020, PM 11:39 KARRAR AL-ASADI
The Cabinet Secretariat announced, on Thursday, that Prime Minister Mustafa Al-Kazemi directed the financial departments and accountants to work tomorrow and Saturday to complete the salaries of employees.
"The Prime Minister, Mustafa Al-Kazemi, directed the ministries and agencies not associated with a ministry and all governorates, to the official working hours on Friday and Saturday to the financial departments and accountants," said the secretariat spokesman, Haider Majeed, in a statement received by the Nun news agency.
He added, "This came for the purpose of enabling their departments, which are centrally and independently funded, to complete the lists of employees' salaries disbursements for the months of October and November of 2020, and send them to the Ministry of Finance next Sunday to request funding for the purpose of paying salaries." LINK
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Popeye7: This is what stood out within this article …imo……Looks as though they are being paid at 1182 dinar per dollar until the 31st of Dec 2020 according to the article... But the CBI is still in control of this occurring, and we shall see what date they have decided to release their REAL rate... Looks as though anytime between now, and the beginning of the year 2021... God's timing in the overall scheme of things... Thanks Don for posting the article... God bless everyone, and again the world is waiting on a rate to be revealed Imo...
BORROWING LAW ...
Article -1- The revenues of the federal budget for the last four months of 2020 are estimated at an amount of (19719483139) one thousand dinars (nineteen trillion seven hundred and nineteen billion four hundred eighty-three million One hundred thirty-nine thousand dinars) and the estimated revenues from exporting crude oil were calculated on the basis of an average price of (40.51) dollars (forty dollars and fifty-one cents) per barrel
And an export rate of (3033273) barrels) three million and thirty-three thousand two hundred seventy-three Barrels per day) including (250,000) barrels per day (two hundred fifty thousand barrels per day) for the quantities of crude oil produced in the Kurdistan region on the basis of an exchange rate of (1182) dinars per dollar and all the revenues actually realized are credited as a final revenue for the account of the state treasury, including the following:
Article -6 - First, this law will be published in the Official Gazette and implemented from the date of its approval and vote in the House of Representatives It will continue to be enforced until 1/1/2021, with the exception of Articles (3 and 4) of this law.
A proposal to amend the committee:
Article -6- This law shall be published in the official gazette and implemented from the date of its approval and vote in the House of Representatives, and it will continue to work until 12/31/2020.
This law was legislated House of Representatives Finance Committee
DCDriver: It looks to me like they want to keep the new exchange rate hidden until the first of the year. Hence, the borrowing until the 31st. IMO
Samson: A deputy directs a question to Al-Kazemi: If the money was there, why did you starve people?
13th November, 2020
A member of the House of Representatives for the Sadiqoun Parliamentary Bloc, Muhammad Al-Baldawi, on Friday, asked Prime Minister Mustafa Al-Kazemi to direct him to pay the salaries of employees for the months of October and the second.
Al-Baldawi said, in his tweet on the Twitter platform: "The Prime Minister directs to spend the salaries of employees for the months of October and the second, excellent and good." He added, "The question is, if the sums are there and available, why have you made life stop while your countrymen have suffered hardship over the past period ?! And for what reason have you delayed paying salaries and starved people and insisted on passing the borrowing law."
And after hours of voting on the law on financing the fiscal deficit (borrowing), the Ministry of Finance announced the release of employees' salaries for the month of October, while Prime Minister Mustafa Al-Kazemi directed the Ministry of Finance to distribute the salaries of employees for the months of last October and November of this current, starting from Sunday Next. LINK
Popeye7: This is why it is important that not only the people of Iraq are paid, but there will be Purchasing Power given them via the increase of the rate of their currency... The citizens of Iraq have to be shown there was justification as to why they had wait for their salaries to be paid for about 3 weeks... We shall see as this plays out this weekend... For the CBI to release the rate in the very near future will certainly benefit the legitimacy of PM Kazemi's government... Again IMO...
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Samson: Economic Advisor Warns Of Financial Collapse In Iraq
13th November, 2020
Economic Adviser "Nasser Al-Kinani" warned of great chaos facing the Iraqi economic and financial policy, calling on the Council of Representatives and the Council of Ministers to look towards overcoming the anticipated chaos that cannot be stopped if it begins, according to him.
Al-Kinani added in his speech to an agency that Iraq suffers from a financial deficit of 81 trillion dinars, in addition to the previous debts estimated at $ 200 billion, which causes a major problem for the Iraqi economy, as it is impossible for it to repay these debts for other years to come.
Regarding the salary crisis and its repercussions, Al-Kinani believes that the issue of disrupting employees' salaries has created setbacks in the entire market, although it is a entitlement that must be paid by the state, criticizing the idea that the employee does not receive his salary for two months due to political rivalry between the government and the House of Representatives. LINK
Samson: Iraq renews its position on normalization with Israel
11/13/2020 16:51:21
The Iraqi government suspended its position on the normalization of the country with Israel.
A spokesman for the Prime Minister, Ahmed Mulla Talal, said in a press statement, commenting on Bahrain and the UAE signing normalization agreements with Israel, as well as Sudan; "Baghdad's position depends on the principle of respecting the sovereignty of each state and its decisions. Iraq shall not interfere in the decisions and stances of any state it deems appropriate for it."
It is noteworthy that Iraq affirms its commitment to the decisions of the Arab summit, whether the 2002 summit in Beirut, or the Arab summit in Baghdad 2012. It is noteworthy that Prime Minister Mustafa Al-Kazemi said on August 23 during an interview with the Washington Post that normalization between Abu Dhabi and Tel Aviv, "An Emirati decision, and we should not interfere." LINK
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Samson: An Iraqi ambassador reveals the date of the Kuwaiti prime minister's visit to Iraq: This is our fate
13th November, 2020
The Iraqi ambassador to Kuwait Al Manhal Al Safi affirmed that the government is taking tireless steps with the countries of the Gulf Cooperation Council to consolidate its relations with them and exchange agreements and memoranda of understanding and openness significantly.
Al-Safi said, according to the Kuwaiti newspaper, Al-Anbaa, that "Iraq has not moved away from the Arab incubator, especially the brothers in the Gulf Cooperation Council countries," referring to the return of Iraq to the Gulf embrace, indicating that his country's government is taking tireless steps with the Gulf Cooperation Council countries in strengthening its relations with them and exchanging agreements Memoranda of understanding and openness greatly."
He added, "This is our destiny. We are open to our neighbors, and the Arab depth is our natural depth, and we are continuing on this approach," pointing out that "the Iraqi-Kuwaiti joint committee will be held soon in Baghdad and it will be a building block for the Iraqi Gulf reconstruction, and this is in the interest of our peoples and the Gulf peoples." He pointed out that preparations for the joint committee are underway, and a decision has been taken, and that setting the date is a simple matter that will be decided later."
And to determine the date of the visit of Prime Minister Sheikh Sabah Al - Khalid to Baghdad, he said: "I was invited by the Iraqi prime minister and promised to meeting them soon, after the completion of the parliamentary elections and the formation of the next Kuwaiti government, and this is a normal thing between brothers and brothers" and on the date of the visit of President The Iraqi to Kuwait, Al-Safi said: "The president has received an invitation from His Highness Prince Sheikh Nawaf Al-Ahmad, and it will be met in the near future." LINK
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Samson: Arrest Of 59 Wanted Persons To The Judiciary On Various Criminal Charges In Karbala
12th November, 2020
A security source in the Karbala police said, Thursday evening, that the security forces had arrested 59 wanted persons to the judiciary on various criminal charges in the past two days.
The security source said in a statement to (Al-Mustaqilla) that "the emergency police department managed to arrest 55 wanted persons to the judiciary on various criminal charges in separate areas of the governorate."
He also added, "The external checkpoints (the checkpoints) managed to arrest 4 wanted persons from the judiciary," indicating that "the detainees were referred to the competent authorities to complete the legal procedures against them." LINK
MilitiaMan and KTFA Members "Full Steam Ahead" 11-11-2020
.KTFA:
Iraq Ports opens a branch of the Arab Islamic Mashreq Bank to facilitate financial services LINK
MilitiaMan: This Islamic bank must know it it is now safe and secure!! The place was a smuggling haven in 2003.. For this to be in the stage of opening banks in this port is very telling.. Just as the Port of Anara with Saudi Arabia is now..The ITBs banks are even gearing to finally open branches. Not just one but many in SA.. IMO All good.. ~ MM
KTFA:
Iraq Ports opens a branch of the Arab Islamic Mashreq Bank to facilitate financial services LINK
MilitiaMan: This Islamic bank must know it it is now safe and secure!! The place was a smuggling haven in 2003.. For this to be in the stage of opening banks in this port is very telling.. Just as the Port of Anara with Saudi Arabia is now..The ITBs banks are even gearing to finally open branches. Not just one but many in SA.. IMO All good.. ~ MM
Samson: Al-Kaabi calls for the inclusion of 600 billion dinars in the borrowing law for the Faw port
10th November 2020
The First Deputy Speaker of Parliament, Hassan Al Kaabi, called on Tuesday for including 600 billion dinars in the law to finance the financial deficit for the Faw port
According to a document obtained by the Iraqi News Agency (INA), "Al-Kaabi called on the Parliamentary Finance Committee to include an amount of 600 billion dinars in the draft bill of financing the financial deficit to finance the first phase of the large port of Faw LINK
MilitiaMan: I see they have the borrowing law and the Port of Faw in mind. Of course not just for to sort current let over payment issues but long term investment for the state large. Don’t think for a moment this is a coincidence. The Port of Faw is to be the 10th largest in the world. The deals being signed lately will be using it and others to grow the State!! All very very good.. Imo ~ MM
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Samson: Al-Kazemi announces the launch of salaries after the approval of the loan law
10th November, 2020
Prime Minister Mustafa Al-Kazemi confirmed, on Tuesday, that employees' salaries will be released after the borrowing law was approved.
In a statement received by Shafaq News, the Media Office quoted Al-Kazemi as saying at the cabinet session "Our meeting with the Finance Committee was positive, and it will contribute to launching the salaries of employees after the approval of the borrowing law." Al-Kazemi added; "The Iraqi-Saudi Coordinating Council held continuous meetings during the past two days, to reach a set of understandings regarding the sectors of industry, trade, agriculture, oil, education, culture and others."
Al-Kazemi pointed out that "there are campaigns questioning any rapprochement of Iraq with any country accompanied by rumors aimed at mixing the cards and disrupting any understanding that is in the interest of the country."
He stressed that "Iraq should be an attractive environment for investment and not repellent because we really need investments, job creation and reconstruction," noting that "there is no alternative agreement to the agreement with China."
He called Al-Kazemi; The Ministry of Finance and other ministries; To "expediting the submission of the 2021 budget due to its importance in running the country's affairs." LINK
MilitiaMan: From the looks of what we are seeing the investment side of things is pushing forward. Apparently they admit it in more ways than one.. They really need the investment, reconstruction and employment. Paying salaries, creating future income to support those salaries is a function of going to a market economy.. Full steam ahead I looks like!! And it looks to be quite quickly now too.. ~ MM
Samson: Iraq And Saudi Arabia Are Discussing Opening The Arar Port And Financing The Stalled Projects
10th November, 2020
The General Secretariat of the Council of Ministers announced that Iraq and Saudi Arabia are discussing tomorrow the opening of the Arar border crossing, and financing a number of vital projects stalled in Iraq.
The official news agency quoted a spokesman for the secretariat Haider Majeed as saying: Secretary General Hamid Al-Ghazi confirmed that the opening of the Arar border crossing during the next week, after the completion of the rehabilitation process, and the resumption of trade exchange between Iraq and Saudi Arabia, adding that the rehabilitation process included the establishment of trade exchange yards and gates Electronic.
Majeed clarified during the statement that the meeting of the Coordination Council between the Iraqi and Saudi sides tomorrow, via closed circuit television, will include discussion of the sub-committees emanating from the Council, its signature, approval and transfer from paper to reality.
The spokesperson revealed funding for a number of vital projects stalled in Iraq, which have reached advanced completion rates through the Kuwait International Conference in Support of Iraq, and will be funded by the Saudi side.
He pointed out that a branch of the Iraqi Commercial Bank will be opened in Saudi Arabia, pointing out that the agreements will contribute to the development of the Iraqi economy and expansion in all fields, which will contribute to attracting competencies and manpower.
Yesterday, Sunday, the General Secretariat of the Council of Ministers revealed that Hamid Al-Ghazzi had met with the Governor of Saudi ForIeign Trade in Baghdad, during which they had planned for talks that would bring the two countries together in the coming days. LINK
MilitiaMan: Look at the language they are using!! The Iraqi Commercial Bank will be opened. There will be an attraction now for competencies and man power. Exactly what the conference in KW, monies have been set aside for. They even talk about the Saudi’s funding it!! Major deals at play and it looks like go time.. imo ~ MM
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Samson: In the document ... Parliament will vote tomorrow, Wednesday, on the financing of the fiscal deficit to secure salaries LINK
MilitiaMan: Last and current months. interesting way to put it. Surely, they have intentions to make good on promises.. Especially with all the international entities arriving lately and still coming in apparently!! ~ MM
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Samson: Parliamentary Finance: The government has a rounded balance of more than 3 trillion dinars
11th November, 2020
The Parliamentary Finance Committee announced that the government possesses a rounded balance of more than 3 trillion dinars from the surplus of the past months, confirming the formation of a governmental-parliamentary committee to discuss the white paper
A member of the Parliamentary Finance Committee, Ahmed Al-Hajj, said, "I am surprised that the government has linked the distribution of salaries to the approval of the second borrowing law, because it has a round balance of more than 3 trillion dinars," noting that there are some simple paragraphs that need discussion between the Finance Committee and the government
He added that the meeting with the Prime Minister and Minister of Finance included granting the Finance Committee approval for the government to borrow to pay employees' salaries, buy medicines and other necessary issues, explaining that it was agreed to form a joint committee that includes the Finance Committee and the advanced staff in the Ministries of Finance and Planning, and they will meet twice a month to discuss the white paper. And bring reforms
He noted that the Finance Committee asked the government to send the 2021 budget bill at the end of this month at the latest at the latest LINK
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Samson: Al-Rafidain announces great benefits to citizens in exchange for depositing their money with him
11th November, 2020
Al-Rafidain Bank announced, on Wednesday, that it will continue to open accounts for citizens and other segments to deposit their money in the bank.
The media office of the bank said in a statement that Mawazine News received a copy of it, "The bank continues to open accounts (savings and current) for citizens and deposit their money in exchange for interest."
He called on citizens to "visit bank branches for the purpose of viewing special instructions and placing their money in the bank and not hoarding it in homes in light of the positive benefits set by the bank in return for that." LINK
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Samson: Iraqi forces thwart the smuggling of antique manuscripts, coins and seals
11th November, 2020
The Directorate of Internal Affairs announced the arrest of a gang for smuggling antiquities and foiling a smuggling operation in Nineveh Governorate.
The ministry said in a statement received by Shafaq News that with a qualitative operation, the Interior Affairs detachments managed to thwart the smuggling of antiquities in one of the Nineveh governorate regions, and to arrest the gang that tried to smuggle these antiquities .
The statement added that these relics varied from archaeological manuscripts, coins and seals, indicating that legal measures have been taken against this gang, and dealing with the fundamentally seized antiquities.
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Samson: The Anti-Corruption Commission issues arrest warrants for more than 20 people
10th November, 2020
A spokesman for the Prime Minister, Ahmed Mulla Talal, announced, on Tuesday, the issuance of arrest warrants against 20 people.
"The Anti-Corruption Committee has issued arrest warrants for more than 20 people and referred them to the judiciary," Mulla Talal said in a press conference attended by Mawazine News.
Mulla Talal did not mention these personalities or the positions they occupy. He pointed out, "The 2021 budget will be different from previous budgets, and the White Paper will be applied in it." LINK