KTFA Members "News and Views" Tursday 12-17-2020

KTFA:

TheSnod:  I think $1.45 just entered the equasion and it might just work. Hey Peep’s, not trying to confuse anyone. I’m just speculating. imo Those numbers looked like a possible excuse to drop zeroes from there, and go 1.45. The weight of information suggests something around 1-1 if not 1-1, itself. Personally, I’ll just be glad to see something pop, so we can get off the ride. I think everything looks great. There seems to be an impetus to kick-start Iraq to the next phase around 1/1.

Daytrader:  We often have a tendency to drop the currency designation in our conversations.  Unfortunately, that often leads to some misunderstandings IMO.  

Currently the exchange rate is $1 = 1190 IQD.  When Iraq drops three zeros the exchange rate would be $1 = 1.190 IQD, meaning it would take more than one dinar to purchase a dollar.  145,000 IQD to purchase $100 is also saying $1 = 1450 IQD.  The IQD weakened 260 dinar (1450 - 1190) meaning it would take more dinar to purchase a USD. 

As information, $1 = 1450 IQD also means it only takes $.000689 to purchase 1 dinar.  That's the wrong direction, all IMO.  Hope this helps.   Daytrader

Samson:  Planning: The budget intends to benefit from the outputs of the Sino-Iraqi agreement and is still with the General Secretariat for Auditing

14:43 - 12/17/2020

The Ministry of Planning confirmed, on Thursday, sending the draft budget for 2021 to the Council of Ministers before the end of this December, indicating that it is still in the General Secretariat of the Council of Ministers for the purpose of auditing.

"The budget was not included in the cabinet session that was held yesterday, as it is still with the working secretariat for the purpose of financial and legal auditing," ministry spokesman Abdul Zahra Al-Hindawi said.

He added, "It is hoped that it will reach the cabinet before the end of this month so that the cabinet can vote on it and send it to the parliament." "The government intends to benefit from the outputs of the Sino-Iraqi agreement to cover projects in the 2021 budget," Al-Hindawi said.    LINK

DeepWoodz:  Imo.... So here it appears that the Ministry of Planning is the spokesmen for the GOI on the current location of the budget. Mostly a smoke screen as I believe the budget is complete and has been, but the date for release isn’t quite here yet. 

I wanna give a throwback to yesterday where the MOP put out an article that Frank referenced quickly last night. Article 111 he said was interesting. He was right. 

Not 100% sure why he said that but....

This is what it said....

He added that "what is left of the funds in the 2021 budget will go to the investment side, including the completion of stalled projects," noting that "the priority will be for projects that have reached advanced stages."

Upon second glance, it would appear that there is a LARGE SURPLUS in their new upcoming budget.

There are 6000 ongoing projects. OH BUDDY!!!!!

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Don961:  What is its relationship with the US sanctions? '' ... Economist: The smuggled Iraqi funds are hidden in 3 major countries

2,474 Economie 2020/12/16 22:02  Baghdad Today - Baghdad

Economic expert Rasem Al-Aqidi confirmed, on Wednesday ( 12-16-2020 ), that Iraq's money smuggled abroad is hidden in 3 major countries, while revealing the impact of US sanctions on the return of part of it.

Al-Aqidi said in an interview with (Baghdad Today), "The volume of corruption in Iraq is very large and the money smuggled abroad after 2003 is not limited but rather huge," noting that "part of it was placed in the assets of corrupt politicians and officials in the banks of countries of their nationality, especially since Most of the officials have more than one nationality. "

He added, "Iraq's other money went to countries whose economy depends mainly on financial transfers and bank balances, and among those countries (Panama, Luxembourg and other countries in Latin America), money flows to their banks from political figures and different classes."

Al-Aqidi pointed out that "the US economic-framed sanctions on Iraq have prompted some to transfer their smuggled money abroad through various purchases of goods and marketing them inside Iraq to recover them as liquidity and place them in private banks or secret places," noting that "it is difficult to determine the size of the money." That smuggled out of the country, but it is agreed that it is very large because the extent of corruption in Iraq was at unprecedented rates. "

The economic expert, Abdul Rahman Al-Mashhadani, revealed, earlier, the volume of money smuggled abroad, which is divided between laundering and illegal operations estimated at at least $ 250 billion, while confirming that the process of recovering it is fraught with risks and needs an international effort.

Abd al-Rahman al-Mashhadani said, in a televised statement that she followed (Baghdad Today), that “seeking to amend the Financial Management Law is futile, because it was amended at the end of last year to allow the government to work in the event that there is no budget by disbursing funds according to the 1/12 rule, i.e. disbursing money monthly. According to the closest approved budget to proceed with the investment projects that are disbursed at a later time.

Al-Mashhadani added, "Any new amendment will weaken the role of the government and the Ministry of Finance in passing its general budgets because the government cannot work without a budget, and also the parliament, which will not be able to monitor achievement ratios without adopting a plan or budget," noting that "the state’s general budget is not approved." In the year 2014 it cast a shadow over the performance of the Ministry of Finance since that day.

He continued: "A budget must be organized with the actual spending from January 2020 until July, and estimates of the total size of the budget must be added, and according to my estimation, it should be around 65 trillion dinars to cover operational expenses and even the deficit will match the deficit percentage specified in the Financial Management Law," indicating that "oil prices "Stable at about $ 40 a barrel, and its price in the budget is supposed to be set at around $ 35, and here the doors of exchange will laugh until the end of the year.

Regarding the money smuggled outside Iraq, the economist said, "The money smuggled abroad is estimated between money laundering and illegal operations, estimated at at least 250 billion dollars and may reach 350 billion, and it is present in neighboring Arab countries as well as many countries of the world."

Regarding the possibility of recovering the smuggled money, he stressed that "recovering these funds is fraught with risks and requires an international effort and cooperation with international organizations, as well as cooperation with international research and investigation offices to find these funds and then return them, and it takes at least five years."

The economic expert pointed out that "the State of Morocco carried out an experiment in which it bargained with money smugglers that the lawsuits against them would be dropped in exchange for returning half or a third of that money, and this matter is faster than research and investigation and assigning follow-up bodies, because the matter may extend for years."   LINK

Samson:  Parliament Finance holds an urgent meeting after the rise in the dollar exchange rate

17th December 2020

The Iraqi Parliament announced that the Parliamentary Committee will hold a meeting this afternoon, Thursday, due to the high dollar, and to discuss the 2021 budget.

A brief statement of the council’s media department, received by Shafaq News, stated that "the Finance Committee is holding an emergency meeting this afternoon to discuss the reasons for the high exchange rate of the dollar, and to discuss the leaked draft budget law for 2021."

A little while ago, the exchange rate of the dollar jumped on the Al-Kifah Central Stock Exchange in the capital, Baghdad.

Shafaq News Agency correspondent said that the Al-Kifah Stock Exchange registered 136,000 dinars against 100 dollars, after about an hour of stabilizing at 129,500 Iraqi dinars against 100 dollars. He added that the exchange rate deteriorated after the news that the Iraqi dinar exchange rate had been fixed in the budget at 145 thousand dinars against 100 dollars.

The Kurdistan Region Stock Exchange also recorded the price of 132,500 Iraqi dinars per 100 dollars against the selling price, in a jump after it recorded in the morning 129,600 dinars per hundred dollars.

The Shafaq News Agency correspondent said that the purchase price of every 100 dollars recorded 132,000 Iraqi dinars.  LINK

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Samson:  Demonstrations in Baghdad and southern Iraq demanding appointments and salaries

17th December 2020
On Thursday, the Iraqi capital, Baghdad, and Basra Governorate, in the south of the country, witnessed massive demonstrations demanding salaries and appointments.  

A source told Shafaq News, "Dozens of higher degree holders organized, this morning, a demonstration in the Alawi area in the center of the capital, Baghdad, to demand appointment within the degrees of deletion and creation in the budget next year," indicating that "the demonstration extended to the square of the Baghdad International Fair amid the spread Heavy security. "

And in the province of Basra, a security source indicated that "demonstrators who are contract employees crossed Baghdad Street in Karma Ali in the governorate to demand payment of their back salaries."   LINK

Samson:  Central Bank of Parliament Governor for Parliamentary Finance: We are preparing to launch a package of measures that achieve a displacement balance in the exchange rate

The Governor of the Central Bank provided an explanation on the reasons for the high exchange rate, stressing that the bank is preparing to launch a package of measures that will achieve a shifting balance in the exchange rate for the year 2021, such as launching an initiative with an amount of 3 trillion to support low-income people, doubling the provision of hard currency in the market, and increasing interest rates. On the Iraqi currency deposited in banks.   LINK

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Samson:  After the 2021 budget leaked ... a parliamentary warning of a massive revolution sweeping Iraq

17th December 2020
Independent MP, Basem Khashan expected, today, Thursday, the outbreak of a massive popular revolution sweeping Iraq against the backdrop of the leaks of the draft budget bill for 2021.

Khashan said, to Shafaq News, that "the 2021 budget targets the poor citizen and the simple employee, and this budget is clearly targeting the livelihood of the Iraqi people, as the government wants to solve the financial and economic crisis at the expense of the citizens, as it does not have any other solutions."

And he stated that "after the 2021 budget law was leaked, the price of the dollar rose dramatically, and even some materials began to rise with the dollar, and here the poor citizen will be the victim, and the deduction of employee salaries, especially the young ones, is unacceptable and unacceptable."

Khashan said, "All these factors will generate a great popular wave of anger, which will be launched, and its slogan may be this time (The Revolution of the Hungry), due to the policy of the Al-Kazemi government towards the people."

The exchange rate of the US dollar against the Iraqi dinar rose during the few days to exceed 130,000 dinars for a hundred dollar denomination, which is an unprecedented rise that has not been witnessed in the currency markets over the past few years.

Shafaq News Agency has obtained a draft federal budget bill, which is scheduled to be passed by the Council of Ministers at its next session, to the Iraqi parliament for voting, after the completion of the discussion on it.

The project included calculating the export price of a barrel of oil at $ 42, at an export rate of (3,250) million barrels, including (250) thousand barrels for the quantities of crude oil produced in the Kurdistan Region.  LINK

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Samson:  Iraq's Local Stock Exchanges Close On The Exchange Of 140,000 Dinars For $ 100

17th December 2020
The local Iraqi stock exchanges closed Al-Kifah and Al-Harithiya to exchange 140,000 dinars for 100 US dollars.

The Independent Correspondent said today, Thursday, that the Kurdistan Region Stock Exchange recorded a price of 132,500 Iraqi dinars per 100 dollars for the sale price.

He added that the Central Al-Kifah Stock Exchange in Baghdad registered 140,000 dinars at the end of Thursday noon, compared to 100 dollars.

Al-Harithiya Stock Exchange recorded the same closing price.

He explained that the exchange rate deteriorated after the news of fixing the Iraqi dinar exchange rate in the budget at 145,000 dinars against $ 100.  LINK

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Samson:  The Iraqi Market Settles In The Red Zone At The End Of The Week’s Trading

17th December 2020

The Iraqi market stabilized in the red zone at the end of today's session, Thursday, the last session of the week.

The general index of the Iraqi market decreased slightly by 0.06% to reach the level of 481.1 points.

The number of shares traded reached 356.06 thousand shares, with a total value of 485.39 thousand dinars, through the implementation of 367 transactions.

 During today's trading, 24 companies were traded, of which 6 rose and 9 fell, while 9 shares settled unchanged.  LINK

KTFA Members "Wednesday News" 12-16-2020

KTFA:

Don961:  Al-Darraji: Changing the exchange rate of the dinar must be through the central bank

December 15, 2020 10:58 pm |  

Author: alzawraapaper  Baghdad / NINA:

Member of the Parliamentary Finance Committee, Muhammad Al-Darraji, said that any change in the exchange rate of the dinar must be through the central bank, so that the state and the citizen benefit, and not through currency dealers.

Today the central bank’s sales are $ 230 million, the difference in the selling price between the bank and the market is 110 dinars per dollar, meaning the profit is 25 billion dinars in one day! 

Any change in the exchange rate must be through the central bank in order for the state and the citizen to benefit from it, not through currency dealers, so that they and those behind them benefit.   LINK

Samson:  Warnings of the collapse of the economy due to the government's floundering in its financial policy

08:42 - 12/16/2020

The specialist in economic affairs, Muhammad Atiyah Al-Saadi, warned of an economic collapse due to the government's floundering in its financial policy and its lack of control over the exchange rate of the dollar as for the Iraqi dinar.

Al-Saadi said to "the information", that "the government’s standing idly by in front of the big jumps in the exchange rate is nothing but an attempt to feel the pulse of the Iraqi street to raise it officially in the currency auction, or it is confused and unable to confront speculators and controllers of banks, most of which belong to political parties and personalities." 

He added that "the state budget is losing nearly twenty billion dinars daily, due to the big difference between selling the dollar at the central bank’s window and selling it in the market." And that "proceeding to increase the exchange rate formally will lead to a decline in the purchasing power of citizens, and the middle and poor will be the most affected."    LINK

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Samson:  Parliament clarifies the fact that the government entered into negotiations with the international monetary to reduce the price of the dinar

16th December 2020

The Deputy Speaker of the Iraqi Parliament, Bashir Al-Haddad, denied, on Wednesday, what was circulated regarding the entry of the Iraqi government into negotiations with the International Monetary Fund to reduce the price of the Iraqi dinar against the US dollar.

Al-Haddad criticized, in a statement received by Shafaq News, “the irresponsible statements by some personalities and parties who claim that the Iraqi government has agreed and entered into negotiations with the International Monetary Fund and international institutions and sought to lower the exchange rate of the Iraqi dinar against the US dollar, which led to a decrease in its value between Global currencies in the past few days, and fears have arisen on the Iraqi street." He added, "This is just untrue and untrue statements and statements."

The exchange rates of the dollar against the Iraqi dinar rose again in the markets of Baghdad and Kurdistan, today, Wednesday, after witnessing fluctuations during the past days.

Shafaq News Agency correspondent said that the central al-Kifah and al-Harithiya stock exchanges in Baghdad registered 129,500 Iraqi dinars today, compared to 100 US dollars. Yesterday, Al-Kifah Central Stock Exchange registered 127,800 Iraqi dinars against 100 US dollars.

Our correspondent indicated that the buying and selling prices also increased in the exchange shops in the local markets in Baghdad, where the selling price reached 130,000 Iraqi dinars, while the purchase prices reached 129,000 dinars per 100 US dollars. In Irbil, the capital of the Kurdistan Region, the dollar prices also witnessed a rise, as the selling price reached 129,200 per hundred dollars, and the purchase by 129,000 per hundred US dollars.    LINK

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Samson:  Iraq is unique in the world with something strange .. What is it?

16th December 2020

The Economy and Investment Committee of the Iraqi Parliament revealed, on Wednesday, that Iraq is unique in something strange in the world.

Committee member Nada Shaker Jawdat told Shafaq News, "The Iraqi state, the only one in all this world, gives salaries to employees whose number is unknown." She pointed out that "the government does not know the number of state employees, as there is no official or accurate statistic that reveals the number of these employees in real terms."

Jawdat indicated that "keeping this file in this ambiguity is because of corruption," adding that "there is great and dangerous corruption in the file of employees' salaries." She pointed to "the presence of aliens and double salaries, up to the fictitious employees."   LINK

Samson:  Legal: The Central Bank offended the national currency ... and the state left the citizen without protection!

12/15/2020 18:41:57

The legal advisor in previous governments, Fadel Muhammad Jawad, said on Tuesday that the Central Bank offended the national currency and the state left the citizen without protection from the policy of the Central Bank, currency speculators and the beneficiaries of the currency auction.

Fadel Jawad was surprised in a statement issued today, Tuesday, which was seen by {Al Furat News}, in which he stated, "It is unbelievable ... The Central Bank continues to sell the dollar at the currency auction at 1190 dinars to the dollar and on the basis that securing the dollar through currency auction will deprive the value of the Iraqi dinar,"

While we see the opposite, the Iraqi dinar is in a continuous decline, and its price has decreased until today to 1,300 dinars per dollar, and it is likely to decline further in the coming days." 

Jawad asked, "Where is the state from the policy of the Central Bank of Iraq while one of the powers of the federal government is to draw monetary policy and the central bank has to implement. Why do speculators determine the price of the dollar without state oversight, while we see in neighboring countries that the money changers get "One or two piasters when performing a currency conversion and on the contrary, they are subject to strict legal liability.

He pointed out that, "the central bank offended the national currency and the state left the citizen without protection from the policy of the central bank and the behavior of speculators in the currency and the beneficiaries of the currency auction." 

At the end of his speech, Jawad called, "The prime minister, as the chief executive officer in the state, to intervene quickly to stop the deterioration of the Iraqi dinar, address the issue of currency auction and put an end to corruption and greed among the beneficiaries of the currency auction and currency speculators."   LINK

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Don961:  An expert reveals US pressure exerted on dealing in dollars in Iraq that may be behind its rise

1,092 Economie 2020/12/16 10:33 am Baghdad today - Baghdad

Today, Wednesday (December 15, 2020), the economic expert, Majed Al-Suri, revealed that there were recent pressures exercised by the United States of America on the circulation of the dollar in Iraq, which may have contributed to raising the price of the dollar locally.

During the past month, the price of the dollar in the local market increased from 120 to about 130 thousand dinars per 100 dollars, while the central bank is still selling the dollar at 119 thousand dollars per hundred dollars.

Al-Suri said in an interview with (Baghdad Today), "The official price set by the Central Bank, meaning that the dollar money sent from the bank for specific purposes, must be sold at the maximum price of 1200 dinars per dollar, and it sells it for 1190, and this is a profit margin." To cover administrative expenses. "

He pointed out that there are "about 1500 banking companies in Iraq, and it is difficult to control them," noting that "the central bank used to sell about 500 thousand dollars a week to banking companies and banks in cash, but now it went down to 250 and 100, until it reached 30 thousand dollars a week for cash sale." For every exchange.

Al-Suri clarified that the reason for the aforementioned sale is the US Treasury’s pressure on Iraq, because the dollar is part of the US Treasury’s policy, and that is why it put pressure on Iraq. The possibility of the dollar reaching Iraq was determined, which has very large limitations.

He explained, "The issue in Iraq is supply and demand, and the central bank recently controlled the exchange rate, but now due to the financial crisis, and the statements and irresponsible decisions in the declaration, it led to a price increase, which is a psychological issue and speculation."

He emphasized that the issue of speculation comes "because of fear of the future, such as that the government increases the exchange rate of the dollar and reduces the value of the dinar, which made traders beware of this issue."

He pointed out that "the main issue is that the central bank cannot solve the problem radically, because of its inability, because the money in the central bank is the same money in the Ministry of Finance, which comes through oil imports when it comes in US dollars."

Regarding the bank’s ability to solve the crisis, al-Suri said, “The Central Bank will deal with the crisis with the capabilities it has, and when the government’s supply of dollars is deficient, it is forced to resort to foreign currency reserves, to secure the market’s needs for dollars.”  LINK

Don961:  Experts: speculator rumors raised the dollar's exchange rate

Wednesday 16 December 2020  Baghdad: Hussein Thughb - Shukran Al-Fatlawi 

 Two experts in financial and economic affairs confirmed that the continued sales of the central bank of the dollar undermines the methods of speculators in the dollar, as the sales achieve great financial benefits, as a result of the high exchange rates in the local market, which are affected by the rumors released, and the source of it is speculators, at a time when there are no trends To reduce the value of the Iraqi dinar.

The exchange rates have been witnessing for days a clear confusion that led to the raising of the exchange rate to 1300 dinars against one dollar, and then returned to gradually decline, amid the assurances of experts and specialists that the dollar sales were not affected and that this confusion is within controlled rates, and that it will return to its normal rates. During the coming period, the judgment on the extent of its effects on the economy can now be postponed "according to experts."

Confidence in dinars

Vice President of the Businessmen Union Basem Jamil Antoine said: "The rise in exchange rates in the local markets is a result of the behavior of speculators, and the spread of rumors that reduce confidence in the Iraqi dinar, which had a major role in increasing the demand for the dollar, which led to the raising of exchange rates to levels that are not The citizen sees it as normal. "  

The value of the dinar

Stressing that "speculators have a large, chunky cash block that invested in buying the dollar in order to achieve large profits, but the Iraqi Central Bank's continued sale of dollars proved to everyone that there are no tendencies to reduce the value of the dinar, and that the matter was subject to the behaviors of speculators, who adopted the rumor that raised from Exchange rates, "expecting that" the coming period will witness a return of exchange rates to normal rates. " 

Antoine pointed out that "the Central Bank of Iraq and international organizations specialized in financial affairs do not agree on any directions to reduce the value of the Iraqi dinar against the dollar," indicating that "Iraq's revenues will rise with the rise in crude oil prices in global markets, and that the price of a barrel by one dollar means that One trillion dinars reduces the annual budget deficit. " 

Foreign currency

The financial expert, Dr. Ahmed Abrihi, speaking to Al-Sabah, said, "The price of the dollar depends on the Central Bank's sales of foreign currency, and it is very well known to those interested in economic affairs. If the sales are less than the demand, the exchange rate rises in the market above the official price, now this is what happened which led to its rise." Or its fluctuation, and this indicates the role of speculators within. "

Its effect is limited

Abrihi pointed out that "the difference is still limited and not large between the market price and the official price, and the difference is not large, and did not last for long, so its impact is limited and unstable and does not leave chaos and its effects cannot be judged."

Stressing that "the repercussions of the exchange rate are the first to be affected by imported goods, not domestic goods, which is also unstable in the current situation, which results in postponing judgment on its effects on the Iraqi economy as a whole."   LINK

Monday Night KTFA CC with Frank26 and Team "New Denominations" 12-14-2020

KTFA:

Monday Night KTFA CC 12-14-2020

With Frank26 and his team of Delta, MilitiaMan and Petra

Playback Number: 605-313-5153   PIN: 319183#

Walkingstick is having surgery today to remove several tumors from his kidney.  This is a very serious and delicate procedure.  Please keep him in your thoughts and prayers today. 

12-14-20.....NEW DENOMINATIONS

This video is in Frank and team’s opinion

https://www.youtube.com/watch?v=eBNvhQNneo0

KTFA Members "News and Views" Monday 12-14-2020

KTFA:

Don961:  The dollar continues to “crack the numbers” in front of the dinar in the Iraqi markets: “the rise was not issued by the central bank” and “amazed”, the master of the situation!

2020-12-14Yes Iraq - Baghdad

 Today, Monday (December 14, 2020), local markets witnessed a new rise in the exchange rate of the dollar.

He told the owners of exchange shops, according to local media, that "the exchange rate of the dollar against the Iraqi dinar has risen to 131 thousand Iraqi dinars for every 100 dollars."

And they continued that "the prices in the Kifah Stock Exchange amounted to 1360 dinars."

They noted that "the selling price reached 131,500 per 100 dollars in the local markets, while the purchase price was 129,500 per 100 US dollars."

Reasons for the rise?

On the other hand, a banking source revealed the reason for the high exchange rate of the dollar against the Iraqi dinar in the local markets on Monday.

The source said, according to local media monitored by "Yes Iraq": "The reason is due to the rumor that the government broadcast, to hold talks with the World Bank to fix the exchange rate of the dollar against 1330 dinars, as well as the speculation of traders."

He added, "The price of the dollar today reached 133,000 dinars against one hundred dollars, a figure Iraq has not seen for years."

The source suggested that the dollar exchange will return to normal in the coming days.

The prices had reached 130,000 dinars before mid-afternoon on the Kifah Stock Exchange in front of one hundred dollars, amidst the amazement of citizens.

The exchange rates of the dollar continued to rise since this morning in the Iraqi market by 127,500, to reach within hours to 130,000. As for the exchange offices, the selling price reached 130,750 dinars.

This escalation in prices raised fears among citizens, amid panic over the high prices of foodstuffs and consumed goods in the market.

There is a trick on the rise?

Financial expert Ahmed Buraihi stressed, on Monday, that it is wrong to make statements about raising the exchange rate of the dinar against the dollar by personalities who are not connected to the central bank, as this approach is exclusively for the central bank.

In statements monitored by Yass Iraq, Burehi said, “Up to now, there is no information confirming or indicating the cause of raising the price of the dinar against the US dollar, and we cannot talk about it, and no one has the right to address the issue because it is exclusively related to the central bank.” "The exchange rate has reasons and obligations that are decided exclusively by the Central Bank."
He added that "all countries of the world avoid talking about such issues in order not to raise expectations that problems will arise," noting that "raising the issue at the present time may affect people's livelihood."

And it revealed that there were efforts to raise the value of the dollar against the dinar at the beginning of the new year, so that the value of its sale in the currency auction reached 145 and in the market to 150 thousand dinars.   link

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Suzie:  Remember last year at this time and how excited we all got?  I do.  Now all the info/intel coming to us about the fab 4, white papers, etc., etc. and once again seems like we are really on the cusp of something happening for REAL this time.....but, it's Iraq and we know what they are famous for or maybe more so, NOT famous for.  Let's hope and pray for all that they actually pull it off THIS time!  Hopefully some more good news from Frank and teams tonight!!

David:  It is easy to question what we dont know, or what we dont see. Look at CBI, 1,271 dinar to $1 of USD. Yesterday it was 1,251, what are they up to?

Possibly, getting the hoards from the citizens stashes. They are trying to collect all of the 3 zero notes, they want them out of circulation. IMO Frank said multiple times it cannot fail with the citizens. It wont fail with the citizens.

If the citizens wont go to the bank and deposit their stashes, they will see their money dwindle away. The citizens will have no choice but to go to the banks and deposit their moneys. It's that simple guys. We are simply waiting on the citizens to get rid of their stashes. That's why they arent getting paid....they are trying to get the citizens to go to banks and open the accounts. They are wanting to pay them direct deposits...imo in the new notes.

Once they receive all the 3 zero notes the citizens are stashing, they will trigger the RI. Just stay patient. This is a waiting game. There is more to the story than what I shared, but it is only a matter of GODS TIME! IMO

Again this is all in my opinion..let's see what happens when the citizens get paid.

Samson:  The Financial Securities Commission begins its economic reform program by motivating the investor

14th December 2020

With an excellent initiative of the Securities Commission with its new administration, the work of the (Investor Day) conference, which was held under the auspices of the General Secretariat of the Council of Ministers, was concluded in Baghdad. In the presence of the Deputy Secretary General of the Council of Ministers, Dr. Farhad Neama Allah Hussein, Mr. Adnan Darjal, Minister of Youth and Sports, and a number of investors and experts in this field

The holding of the conference coincides with the government's interest and its continuous work despite all the difficult circumstances that accompanied past and current governments to enhance the attractive environment for capital, by issuing a package of decisions and instructions that contributed to facilitating the work of investment projects and investors, in line with what the Prime Minister presented in his government program And his serious reform vision in the white paper, which aims to provide full support to investors in order to complete their projects according to the established timelines, activate the investment sector, improve its environment and overcome all investor problems, challenges and obstacles to expand a good environment for foreign investors

Also, to continue coordination with the Securities Commission and with the various authorities concerned in this matter, based on the government's belief in supporting the private sector and investment, because of its impact on improving the economic reality and reducing unemployment rates among the youth

The holding of the conference comes in accordance with the Securities Commission’s program to launch the custodian system in Iraq during the next year, diversifying financial instruments and providing protection for investors in a way that serves the national economy and encourages capital building in addition to the country's need to stimulate trading in securities and establish new joint stock companies. 

We hope that the Securities Commission, with its new administration, will be able to follow up on the implementation of the conference’s recommendations, in a way that contributes to achieving one of the goals of economic reform  LINK

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Samson:  Parliamentary Finance suggests adjusting the price of oil in the budget to $ 49

14th December, 2020

On Monday, the Parliamentary Finance Committee suggested changes to the draft general budget law for 2021 and to amend the calculation of oil prices

"The recovery of oil prices, which reached $ 50, will contribute to reducing the fiscal deficit in the general budget for the year 2021, after the value of the deficit was estimated at 50% of the total amount of the budget," said Abdul Hadi Al Saadawi, a member of the committee

He added that "the government considers it necessary to raise oil prices in the general budget commensurate with the current price of oil on world markets," noting that "the budget was previously prepared by the finance at $ 41 per barrel

Al-Saadawi said, "The government raises oil prices in the budget law from 41 to 49 dollars," noting that there is no specific date for approving the budget law in the Council of Ministers   LINK

Iobey777:  WOW!! IMO, it is telling us that ONLY the CBI can show the rate and the whole world is watching!!! Oh, and love the part that says the ER will return to NORMAL in the coming days!!!  

Samson:  Integrity announces a halt to the waste of 9 billion dinars in Anbar

14th December, 2020

The Federal Integrity Commission announced, on Monday, that it was able to stop the waste of 9 billion dinars of public money, and to seize dozens of fraudulent transactions in the Anbar Retirement Department

The investigation department of the authority stated in a statement received by "Al-Iqtisad News", that "its cadres in the Anbar investigation office carried out two separate seizures in the retirement department in the province." Confiscating (75) fraudulent treatment of martyrs and the injured

The department added: "Initial investigations have found that the (barcode) number and the signatures of the employees of the Anbar Martyrs Directorate have been falsified," noting that "the total amounts that were stopped wasted amounted to (8,000,000,000) billion dinars

In another operation, “the field team seized (8) pension transactions after fraud occurred in the book on the validity of the issuance of the medical report on those transactions, indicating that the waste of (1,000,000,000) billion dinars was to be spent as differences and salaries for fraudulent transactions

LINK

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Samson:  Representative economy: 70% of the ports' revenues are stolen in this way

09:59 - 12/14/2020

The Parliamentary Economic and Investment Committee proposed a set of reforms to get out of the economic crisis that the country is currently going through, while it revealed that 70% of the outlets revenues were stolen through false invoices.

"The committee has put in place real reforms through its periodic meetings on how to maximize government revenues in the next year 2021 budget, and how to get out of the financial crisis that the country is going through," said Riyadh Al-Tamimi, a member of the committee.

Al-Tamimi added, "There are several methods, including those related to the Ministry of Industry, participation contracts and their benefits and the sums that will be supplied to the budget, in addition to investment, border outlets, currency auctions, and tax and customs deductions," noting that "the government to this day is unable to obtain amounts Taxes and customs.

He stressed, "The government's control over the border outlets can only be done through electronic governance in order to preserve its revenues," noting that "70 percent of the ports' revenues are stolen through false invoices."   LINK

Samson:  Parliamentary Finance is counting on higher financial revenues to reduce the deficit in the 2021 budget

14th December 2020
On Sunday, a member of the Parliamentary Finance Committee, Jamal Cougar, expressed his hope for an increase in the state's revenues from oil and other revenues to reduce the deficit in the 2021 budget, and to avoid the need for internal or external borrowing.

Cougar told Shafaq News, "The increase in financial revenues, oil and non-oil, with the changes in the current situation, from taxes, levies and border crossings, all of this will help the government to bridge the financial deficit in the general budget for 2021."

"The increase in oil prices and the improvement of non-oil revenues will also help the government to provide financial liquidity without resorting to financial borrowing," he added.

Cougar stressed that "the loans obtained by the government earlier, the last of which were 12 trillion dinars, had brought about the worst conditions that Iraq is going through."   LINK

MilitiaMan "Gearing up for an International Exchange Rate" 12-14-2020

KTFA:

Samson:  Which is the savior of the Iraqi economy ... internal or external financial diversification?

13th December, 2020

The consequences and effects of the past years of financial and economic mismanagement of Iraq are still continuing, and building the national economy on a single financial resource has increased these consequences as the rentier resources are directly affected by any crisis that may occur on the global level, as the black gold market is directly linked With political, security, health and other events, and oil prices are rapidly collapsing, as happened in 2020, when only a few days remained;

Oil prices plunged to about $ 10 in the middle of the year, and then stabilized between $ 30-35 per barrel. Here was the end of the beginning for the Iraqi economy.

The continuous fluctuation of crude oil prices has weakened the Iraqi government's ability to pay monthly salaries and ruling expenses and its resort to the internal borrowing law that the House of Representatives voted last month to pay monthly salaries until the beginning of next year, paralleled by parliamentary statements of the government’s inability to pay the salaries of January of next year due to the lack of Sending the government of Mustafa Al-Kazemi to the federal budget, where the House of Representatives says through the Finance Committee that "the draft budget, if it reaches parliament, needs 45 days to read and amend it, and then the parliament begins to vote on it."

Do we need loans?

Gold loans, which are long-term loans accompanied by easy payment facilities for the implementation of projects, the condition of productivity, but does the Iraqi economy need it at the present time and with the start of the new year or going to diversify the financial resources is better for the Iraqi economy?

Mazhar Muhammad Salih, the financial advisor to the prime minister, Mustafa Al-Kazemi, told Mawazine News that “real internal financial diversification remains the one who has priority, but going to external diversification such as sovereign wealth funds comes as savings that are difficult for the economy, especially rentier, to absorb them immediately in internal projects due to many obstacles." He attributed the reason for this to "the lack of absorption capacity, so diversification is taking place, meaning those surpluses or sovereign savings are being invested in flexible economies with advanced financial markets and strong activities that need financing, and profits when achieved are transferred to the local economy."

The need to diversify public debt instruments in a way that contributes to entering the wheel of investment, contributing to development, moving and maximizing the market capitalization, and withdrawing the mass of the public to be a partner in slimming its size and bridging its gap according to the assertions of economic researcher Ola Al-Tamimi to / Mawazine News /.

Al-Tamimi pointed out that "this matter requires the issuance of a new type of public debt bonds bearing the investment, development, not savings, character, because the Iraqi economy, according to Al-Tamimi today, is in need of a specialist in public debt to lead and draw up its policies in light of the successive governments’ pursuit of a single path in financing a gap. (Revenues / expenditures) are represented by resorting to domestic (government) and external borrowing and the first task assigned to this specialization is “diversification of public debt instruments.”

Salih parallels Al-Tamimi by responding to her opinion that “saving is definitely an investment tool and comes opposite to hoarding, which means a leakage in the income cycle and a weakening But the reality of saving that does not go to investment remains, which also leads to the so-called paradox of thrift, a society that enjoys surpluses, but they will be eroded with the passage of time due to weakness in their investment and their maximization, as is the case in our country today through the forms of hoarding and uninvested savings. Saleh added:

“Nevertheless, when the desired savings matches the desired investment, the saving equation will inevitably be shifted towards growth through investment financing.”

I have posted on this place how to create a government-sponsored development fund that can issue bonds to the public and create leverage that allocates its flows to investment projects for the private sector and not Change it, as Saleh says." Financial advisor that he can bondholder (and adds as a religion) that converts to the winner (shares as equity) in the fund converted bonds is called a hybrid method that works perhaps under Islamic Sukuk systems."

Case Allaigbn are prevalent in customer behavior as evidenced by the cash leakage money leakage Out of the banking system, from the cash issued to circulation, it lies 85% in the form of hoardings in the quarters of traders, investors and individuals in homes." This is due to the fear and uncertainty of political and economic conditions and policies volatile and loss of confidence in financial institutions and markets the risk of loss Awalkhosarh, confiscation and fraud."

Everyone's looking for certainty certainty and the availability of the certain guarantees in the recovery and avoid the risk of loss of liquid financial wealth with investments surrounded by doubts. After the trauma suffered by the economy The Iraqi government and the great tremor that the current government faced, there is no longer any excuse or room for procrastination by not setting effective policies and solutions.

The country's financial policy cannot be managed by the method of borrowing, and this method will make Iraq a bankrupt country in the event that the march is prolonged in this direction, as the central bank looms short "Sharp has started to affect the financial stock, and if that stock is exhausted, alarms will ring and then biting the windows will not help."   LINK

MilitiaMan:  More data to support they are gearing to go out to external markets with and international exchange rate.

They are moving to an external debt source of financing in where it creates more investments and creates more jobs for SMEs.

By doing so it will support the new market economy and with a better likelihood to be successful in doing so.

 Iraq has plenty of youths to fit the model.. imo This looks very good.. "Prices that return to normal?" Would that imply they are about ready to go back to the glory days?

They say they are going to delete the three zeros from the exchange rate or at least change it during this fiscal year. They also tell us the Dinar is to converge with the Dollar, too. 1:1 in country.  imo ! MM 

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"Association of Private Banks: The Central Bank supports small and medium enterprises" FA #486

He pointed out that "the Central Bank of Iraq has its tools in managing monetary policy, and at the present time there is great pressure on the dollar that led to its rise in the parallel market," expecting that "the central bank and during the coming period, will absorb this crisis, and prices return to normal

LINK

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"Given that developing countries are typically characterized
by an abundance of labour and therefore have comparative
advantages in labour-intensive sectors, promoting industries
and adopting technologies that are in line with a country’s
comparative advantage would lead to creation of more job
opportunities, rising wages, particularly for lower-wage
workers, and improvement in economic equality. Under such
a comparative-advantage-following (CAF) strategy, workers
would have more access to training and on-the-job learning
opportunities, which in turn helps to advance human capital
accumulation. Unlike the CAD strategy, the CAF strategy
has the additional advantage of not requiring Governments
to distort product and factor markets in order to support
otherwise non-viable firms. Without the distortions, small
and medium-sized enterprises have greater chances to
develop. Another advantage of the CAF strategy is that it
generally does not entail preferential loans, trade barriers,
currency intervention, and other policy measures that
are needed for supporting uncompetitive firms. Adoption
of such a strategy therefore results in more favourable
external balance and fiscal conditions, and hence better
macroeconomic stability"

https://www.un.org/development/desa/en/wp-content/uploads/2020/07/RECOVER_BETTER_0722-1.pdf

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FINAL ARTICLE #447

An economist calls for deleting the three zeros from the dinar to strengthen the local currency

November 30, 2020  

Economic expert Raad Twig called , the central bank to delete the three zeros from the dinar to strengthen the local currency.

Twig said: It is known that the monetary mass in circulation is about 60 trillion dinars, which is not available at the Central Bank of Iraq, the banks and the public, and it is a large monetary block compared to the economic transactions of the Iraqi economy and that a large proportion of this block suffers from compactness and therefore this does not help the Central Bank of Iraq in drawing a policy Effective cash calling on  the central bank to delete three zeros or gradual deletion of zeros to make the value of the dinar appear at a higher value and that the processes of evaluation and monetary balance will be formed quickly in the market economy. "

He added: The monetary mass can become approximately 15 to 25 trillion dinars, and the value of the new dinar converges to the value of the dollar, which facilitates the process of calculation and allows small and new denominations of cash to appear in the money market.   LINK

KTFA, X22 Reports and more Sunday Night 12-13-2020

KTFA:

Clare:  FAMILY FROM FRANK: 
PLEASE KEEP WALKINGSTICK IN YOUR PRAYERS....

FOR THE FIRST TIME IN MANY YEARS WALKINGSTICK WILL BE HAVING SURGERY ON MONDAY TO REMOVE 3 TUMORS FROM HIS RIGHT KIDNEY...
PLEASE PRAY HIS BLOOD PRESSURE REMAINS STABLE TOO! 

QUOTE FROM WALKINGSTICK: "I AM GRATEFUL FOR KTFA...THEY HAVE KEPT ME ALIVE FOR THE LAST 2 YEARS"~WS

THANK YOU TO ALL WHO HAVE HELPED WITH WALKINGSTICK'S MEDICAL NEEDS-
GOD BLESS YOU ALL!

Don961: :  Infiltration of the US Treasury by hackers backed by a foreign government

2020-12-13

Reuters reported today, Sunday, that the US Treasury has been hit by a successful cyber attack by a group of hackers supported by another country.

Sources familiar with the United States said that a high-level hacking group backed by a foreign government stole information from the Treasury Department and an agency responsible for setting internet and communications policy.    LINK

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Don961:  The atmosphere is positive" only ... blackout on the course of the dialogue with the Kurdish delegation pending the "final agreement"

800 Private files 12/13/2020 11:50 ta   Baghdad today - Baghdad

The Prime Minister, Mustafa Al-Kazemi and the Speaker of Parliament, Muhammad al-Halbousi, met on (December 12, 2020) with the Kurdish political delegation, amid a loud blackout on the outcomes of the meeting, which was overshadowed by a `` positive atmosphere, '' according to the leader of the Kurdistan Democratic Party, Khaleda. Khalil.

The Kurdistan region has been witnessing, for days, angry protests in Sulaymaniyah governorate, due to the delay in salaries of employees for months, and their instability during the past three years, with the continuing disputes between Baghdad and Erbil over revenues and financial benefits.

Haytham al-Jubouri and his deputy, Muthanna al-Samarrai, met with the heads of the Council of Ministers, deputies, and head of the Parliamentary Finance Committee, on Saturday, with the Kurdish political delegation in the capital, Baghdad.

Only positive

The (Baghdad Today) agency tried to obtain information about the meeting from the leader of the Kurdistan Democratic Party, Khaleda Khalil, but only said, "The atmosphere in general is positive and we hope that all outstanding matters will be resolved. Yesterday, the delegation met with the Prime Minister and the Speaker of Parliament in the presence of the Finance Committee." After that, the technicians met with the presence of SOMO to determine the share of oil that the Kurdistan region exports.

She added, "The news will be announced after the completion of the meetings, and the meetings are still continuing when there are technicians. This means that everything will be discussed according to the constitution, adding that the constitution is the rule and it is the decisive factor in everything."

No formal agreement

A meeting was held yesterday in the presence of the Parliamentary Finance Committee, where (Baghdad today) contacted a number of them to see the course of the meeting, but they unanimously agreed on the announcement after reaching a final agreement. MP Naji Al-Saeedi, a member of the aforementioned committee, says that "negotiations with the Kurdish side are still continuing. There is still no final agreement."

Yesterday, Saturday, a member of the Parliamentary Finance Committee, Representative Ahmed Hajj Rashid, revealed to (Baghdad Today), that "until now, there is no formal agreement between the Baghdad government and the Kurdistan Regional Government regarding the outstanding financial problems between the two parties, and regarding the application of the provisions of the disability law Financial in the 2020 budget.

He continued, "There is flexibility in the dialogue between the two parties, but the issue of reaching a formal agreement is still only speculation and leaks," stressing that "no final agreement has been reached between Baghdad and Erbil regarding the pending financial issues between the two parties."

Al Kaabi gives the warning before any agreement

The First Deputy Speaker of Parliament, Hassan Al-Kaabi, confirmed, yesterday, Saturday, that any agreement with Kurdistan that contravenes the provisions of the Financial Deficit Law is considered "null." Al-Kaabi said in a statement published by his media office that "any agreement regarding the oil and dues of the Kurdistan region contradicts what was mentioned in the provisions of the Financial Deficit Law is considered null."

Al-Kaabi’s words came in conjunction with Prime Minister Mustafa Al-Kazemi and MP Muhammad al-Halbousi, on Saturday 12-12-2020, a negotiating meeting with the Kurdistan Region delegation visiting Baghdad, attended by the Parliamentary Finance Committee.

The meeting, which was held at the Government Palace, according to an official statement issued by Al-Kazemi's office, discussed the commitment to implement the fiscal deficit financing law, which was voted by the House of Representatives last month, and discussed its implementation mechanisms, in a manner that takes into account justice in distributing financial allocations to all regions of Iraq.

LINK

DeepWoodz:  amid a loud blackout on the outcomes of the meeting, which was overshadowed by a `` positive atmosphere,    imo woop woop

EXCLUSIVE-U.S. Treasury breached by hackers backed by foreign government - sources

A "sophisticated hacking group" backed by the Russian government reportedly infiltrated the Department of Treasury's systems and stole information related to internet and telecommunications policymaking as part of a broader campaign that also hacked the Commerce Department and other government agencies.

The FBI is investigating the attacks and is looking into the Russian hacking group APT29, also known as Cozy Bear, as a potential culprit, according to the Washington Post. The foreign-backed hack was first reported by Reuters.

As a result of the hack, the National Security Council held a meeting at the White House on Sunday.

The Department of Homeland Security's Cybersecurity and Infrastructure Security Agency confirmed the incident in a statement but did not suggest who was behind the attack.

https://www.washingtonexaminer.com/news/foreign-government-backed-hackers-breach-u-s-treasury-report

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Courtesy of Dinar Guru

Footforward   ...There needs to be a clear distinction between exchanging notes in Iraq and having a new rate. They can't have a new in country rate without it being international. They are trying to flush USD and 000 notes out.

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Sunday Night X22 Reports:

The Economy Continues To Improve, [CB] Pushes Fear -- Ep 2352a

The economy continues to improve, GDP numbers are moving up even with Gov and Mayors keeping their states locked down. [CB]s around the world are pushing fear, out in the UK the BE is now reporting they could see shortages because of BREXIT. It is reporting that a hacking team hacked into the Treasury.

https://x22report.com/aiovg_videos/ep-2352a-the-economy-continues-to-improve-cb-pushes-fear/

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Art Of The Deal, SC Just Gave Trump The Answer, 2018 EO On Deck, Blackout Coming – Ep. 2352b

Trump has now received the answer he needed from the Supreme Court. The plan worked perfectly. The China buildup is now happening, the leaks on how China interfered and how government officials  received instructions from the Chinese to interfere in the election. The [DS] is now pushing the Red1, the removal of Trump’s twitter account and then we will see a blackout of social media. Be prepared.

https://x22report.com/aiovg_videos/ep-2352b-art-of-the-deal-sc-just-gave-trump-the-answer-2018-eo-on-deck-blackout-coming/

MilitiaMan and KTFA Members "The Golden Triangle" 12-12-2020

KTFA:

Don961:  People of experience and confidence .... The Golden Triangle

 Special files  ,   12/12/2020 20:06  Baghdad - Iraq today:

We must record President Al-Kazemi's success in choosing some of his government’s men with great competencies, high professional experience and pure national affiliation amid our objection to some unsuccessful options for running the state in his government, which is swinging in the midst of the popular and political storm that has been blowing over the country since Almost a year and a half.

Among the brilliant names chosen that should be referred to by Thousand Banan, the name of Dr. Ali Abdul Amir Allawi, Minister of Finance, Mrs. Suha Dawoud Al-Najjar, Head of the National Investment Authority, and Mr. Mustafa Ghaleb Makhaif, Governor of the New Central Bank, are the golden triangle in the prime minister's options for the political and economic reform process to rescue Country.

It is the responsibility of the Central Bank of Iraq in this important triangle to control the economic and monetary rhythm in particular in the country, after a series of failures that occurred in previous periods that led it to the inability to distribute salaries and general cash scarcity in a dangerous precedent that no Iraqi government has faced since 1921 to present.

It must be noted that this choice in this critical period is considered a successful milestone blow recorded to the Prime Minister that opens up bright and broad horizons for the work of the Central Bank and draws great hope to change the stumbling economic conditions of the country by following a precise financial policy.

The first signs of which were important decisions in changing the structure of monetary and commercial dealings by adopting the principle of dealing Electronic financial (credit card) and moving away from paper cash (banknotes) in paying state employees' salaries, which will be automatically transferred to their accounts, leading to transferring all daily payments and purchases to this system, similar to that of the developed countries of the world.

As well as setting up an electronic platform for all letters of guarantee issued in banks for the benefit of their customers in order to avoid the forgery and manipulations that occur in this important aspect of commercial and banking dealings.

 And following the directions of the Minister of Finance and his support and encouragement for the idea of ​​moving industry and national investment by facilitating lending to existing factories and factories to develop their production, and new industrial projects in order to employ the Iraqi workforce and develop the local product, which will be reflected in maximizing the general national product.

We raise the hat high to the Prime Minister on these delicate choices of people of experience and confidence and the promotion of high government positions with such names with high professional and administrative competence.

We wish success, success and repayment to the leaders of the Iraqi economy in their difficult mission, which, God willing, will undoubtedly succeed.  LINK

DeepWoodz:  Baghdad - Iraq today:”the New Central Bank, are the golden triangle” Imo...WOW!!!  Sounds like CONGRATULATIONS to me! But for WHAT???  NEW CENTRAL BANK???

MilitiaMan:  Sure looks like the have they system ready for change. The are effectively saying thank you to the three in the golden triangle.

The minister of finance, the CBI Governor and the Investment Authority. 

Combine this with the meeting at the Presidents house last night, the Kurds getting their payments simultaneously and the borders with Saudi Arabia are talking about a $ Billion for the year and that in revenues at the borders within days will be upward.

Well to the latter upwards imo is an increase.. So for all these items and payments, letters of guarantees, salaries, etc.. to all be in sync is very telling.

 They have the Golden Triangle to thank and they are, as this wasn't an endeavor that started yesterday. It has been a massive work in progress.. Lets see what they have to say in the coming days..

It looks very good, as the rescue is underway. imo.. ~ MM

Samson:  With a unified ticket .. Discuss the establishment of an entity to transport passengers by land between Egypt, Jordan and Iraq

12th December, 2020

The Egyptian Minister of Transport, Kamel Al-Wazir, said on Saturday that the establishment of an entity was discussed to transport passengers by land between Egypt, Jordan and Iraq.

The minister explained that "a topic of great importance was discussed in the field of cooperation between the three countries, which is the regulation of passenger movement by land between these countries, whether through the establishment of the Arab Bridge Land Transport Company, similar to the Arab Bridge Navigation Company, or through the integration of transport companies."

Land existing in each country with each other and with the Arab Bridge Navigation Company, in order to reach a model system to facilitate the transportation of passengers between the three countries with a unified ticket.

The general assembly of the Arab Bridge Navigation Company was held in its 75th session in Cairo, in the presence of the team, Engineer Kamel Al-Wazir, the Egyptian Minister of Transport, and Engineer Marwan Khaitan, the Jordanian Minister of Transport, and Captain Nasser Hussein, the Iraqi Minister of Transport, in addition to the company's board of directors.

The General Assembly reviewed the technical condition of the ships and ships of the Arab Bridge, the effects of the Corona pandemic on the company's activity, business and financial results during the last period, as well as the procedures and mechanisms that have been taken to ensure the continuity of the company's activity, which represents an important commercial link between Egypt, Jordan and Iraq.

LINK

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DeepWoodz:  Imo...12/12/2020

So what happened in the wee hours of the morning? No Word Yet but a lot about the Kurds and all good!

Buna is the talk of the Arab financial world!Kadhimi is for all Iraqi’s, including the Kurds.

Oil is almost at 50....49.98!!!

Agriculture is doing Great!

Kurds getting paid.

Big stuff with Egypt!!! “  the need to expedite the implementation of what was signed between the three countries during the previous periods, and to activate it on the ground as soon as possible."

“the joint negotiation meeting between the federal government, the Parliamentary Finance Committee and the Kurdistan Region delegation.”

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Samson:  Signing a memorandum of understanding and cooperation protocol during the Iraqi-Egyptian talks

12/12/2020 15:37:16

 Iraq signed, on Saturday, a memorandum of understanding and a cooperation protocol with Egypt during the Iraqi-Egyptian talks in Cairo.

The Minister of Planning signed a memorandum of understanding in the field of economic and development policy-making and international and regional cooperation with the Egyptian Minister of Economy and Economic Development.

The Minister of Agriculture signed the cooperation protocol in the field of agricultural research with his Egyptian counterpart.  LINK

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Parliamentary integrity identifies obstacles to recovering smuggled funds

12th December, 2020

The Parliamentary Integrity Committee identified, on Saturday, obstacles to recovering smuggled money abroad.

A member of the committee, Taha Al-Dafi, according to the official agency, said, "The recovery of the smuggled money is entrusted to the Integrity Commission, specifically in the Recovery Department, but the work of this department was not at the level of corruption and the amount of smuggled money," noting that "the main reason for the weakness of money recovery is due to lack of cooperation.

Governmental institutions, including the Ministry of Foreign Affairs, the Central Bank and the relevant departments, are moving to conclude important agreements with governments that have provided information about the existence of smuggled money for Iraqi officials in order to recover money and people through the International and Arab Interpol.

Al-Dafa'i added, "There is also an important problem, which is the lack of cooperation from some countries with Iraq in following up the money and people such as Jordan and Lebanon, because these countries benefit from these funds and are present in their banks." 

Countries and states to which the corrupt fled, as well as the presence of smuggled money and pressure on these countries to hand over the fugitives against whom arrest warrants were issued, and also to recover the money.

He pointed out, "The role of the Integrity Committee is to detect corruption and to deliver news and information, verify them and transfer them to the competent judicial authorities or the Integrity Commission." LINK

Samson:  The sincere promise in Basra: the arrest of 37 wanted persons and the seizure of forged weapons and money

12th December 2020

The Security Media Cell announced, on Saturday, the results of Operation Truthful Promise, which was launched this morning in Basra Governorate.

A statement of the cell was reported to Shafaq News Agency; That the security forces continue the procedures for imposing state prestige and law enforcement in Basra Governorate.

The statement added, "The outline of the results of Operation Truthful Promise, the third phase, the fourth page, today, Saturday, to the northern and southern axes within the sector of Basra Operations Command.

The arrest of 37 wanted persons according to various legal articles, and the seizure of 12 Kalashnikov automatic rifles, 5/8 caliber pistols and 2 mortar caliber 82 mm. 4 other 60 mm caliber, 23 mm barrel, 5/14 mm barrel, 5/12 mm barrel, throwing range for 5/14 mm machine gun, 58 100 mm projectiles, 3 grenades of 120 mm mortar round, 5 others 60 mm, 3 grenades, and 3 30-round magazine capacity is empty.

The statement indicated that 121 counterfeit US $ 100 notes were seized, as well as forged Iraqi money amounting to (3255,000) Iraqi dinars.  LINK

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Samson:  Deputy: Parliament is clinically dead, and survival is a crime

14:48 - 12/12/2020

Deputy for the Al-Fateh Alliance, Hamid Al-Mousawi, described the House of Representatives as clinically dead, while extending the life of the Council is a crime against Iraqis.

"The House of Representatives rejected the proposal to merge the parliamentary elections and the provincial councils," Moussawi said in a statement to "the information", pointing out that "the parliament for this session is not convincing, as parliament died clinically and extending its life is a crime against Iraqis."

He added that "the political blocs will take a position from Prime Minister Mustafa Al-Kazemi in the event that the street deceives the election date that he specified," noting that "the parties that confiscated the protests are trying to exploit them for electoral interests."

The deputy of the Al-Fateh Alliance, Abbas Al-Zamili, confirmed today, Thursday, that there is no possibility of forming political alliances in the coming period.

Last Wednesday, the deputy of the Nasr Coalition, Falah Kata'a, confirmed that Prime Minister Mustafa Al-Kazemi had lost political support due to his wrong administration.  LINK

MilitiaMan Friday PM "Large Meeing Tonight " 12-11-2020

KTFA:

MilitiaMan......Saleh and Al-Kazemi are organizing a large meeting tonight to announce an agreement that ends the region's financing crisis

2020.12.11 Baghdad – 

In the house of the President of the Republic

The President of the Republic, Barham Salih, and Prime Minister Mustafa Al-Kazemi are organizing an emergency meeting tonight in preparation for announcing an agreement that "ends the financing crisis in the Kurdistan region." 
 
According to an informed source who spoke to "People" (December 11, 2020), "The President of the Republic, Barham Salih, and Prime Minister Mustafa Al-Kazemi are organizing tonight an emergency and meeting that includes a number of officials and deputies from the federal and regional authorities. "  

He continued, "Among the attendees - in addition to Saleh and Al-Kazemi -a financial and technical delegation from the Kurdistan region, in addition to the  deputies of the Finance Committee in the Federal Parliament, and a number of relevant federal ministers."  

He added, "It is expected that the meeting will finalize an agreement to end the financing crisis in the Kurdistan region with the approval of all parties."

It is likely that important developments will be announced after the end of the meeting, which will be held at the home of the President of the Republic, Barham Salih.  

According to the information, the high-level meeting will develop solutions to the problem of financing the Kurdistan region from the 2020 budget, in addition to discussing a mechanism for a solution to the financing problem in the 2021 budget.   LINK

"Mr frank !!!! Announcing tonight the answer to our financial issues" ~ Frank26 / FF

https://www.nasnews.com/view.php?cat=47379#

MilitiaMan:  Financial issues? Issues can be currency, as in nscns. imo

A newly issued international currency with a corrected exchange rate may fix a crisis for many reasons. They are talking about the correction again..

The UN was in town talking about a correction too recently, and the UN was wondering why it wasn't done yet in respect to the White Papers and the correction.. (I.E.; EXCHANGE RATE imo).

Now they are to be shoulder to shoulder tonight or were.

 Saleh has stated they have the correcting of the exchange rate  from the CBI openly in front of us and that is tonight or was.

Well it is 12:05 in Baghdad now.. It is the 12th.. I suspect if they have had that meeting, they made an announcement about it. At least they say they will have one at the end of the meeting..

We shall see what comes of it. Looks good though.. imo ! ! ! ~ MM

KTFA Members "Friday News" 12-11-2020

KTFA:

Samson:  Parliamentary Finance: The Council of Ministers votes tomorrow on the budget and it arrives in Parliament on Tuesday

12/11/2020 15:58:06

A member of the Parliamentary Finance Committee said that the draft federal budget law for 2021 is long overdue and the House of Representatives needs at least a month to legislate it.

MP Sherwan Mirza said in a press statement today, Friday, that "the draft federal budget law for 2021 has been long overdue and the House of Representatives needs a month to legislate the law."

He added, "The Federal Cabinet has a session to discuss and approve the budget tomorrow, Saturday, and I think that the budget will be before the House of Representatives at its next session scheduled for next Tuesday."

He explained, "If the parliament is able to legislate the law before 1/20/2021, the government will be able to disburse the employees' salaries on the specified date, but if the legislation of the law is delayed more than that, the government will need to return to the previous law and spend 1/12 of the total budget."   LINK

Don961:  The price of the dollar is still high

 Thursday 10 December 2020Baghdad: Al-Sabah

the dollar market in Baghdad recorded an increase in the exchange rate, which reached 127 thousand dinars per hundred dollars, while in the rest of the provinces ranged between 126 thousand and 127 thousand dinars per hundred dollars in it.

The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, identified two reasons for the rise in the dollar’s ​​exchange rate, stressing that they are temporary bubbles affected by speculative rumors to reap profits. 

Saleh told the Iraqi News Agency (INA): "The exchange market, as it is known, is one of the most affected by information. Rather, all its decisions depend on the available information and its level of credibility, but there are two reasons for the price fluctuation slightly above its usual rates of stability in the parallel market." 

He added that "the first reason is that the budget bill is close to being approved, and the conflicting, colored, and confused information was raised about correcting the exchange rate, which generated vague signals that the market adopted for speculation and hedging in the short period."

He continued, "As for the second reason, it is the approaching date of the legislative elections, the political strife, and the signals and information they generate regarding political gains, or the reasons for preparing for the elections, which give a high state of uncertainty among market makers regarding the political and economic situation of the country."

He pointed out that "all these factors lead to anxiety in the decisions of buying and selling in foreign currency, and maintaining a price slightly higher than the market's balance and its stability levels."

He stressed that they are "temporary bubbles affected by speculative rumors, to reap emergency profits from the price differences," indicating that "correcting the exchange rate will remain part of the monetary policy actions of the Central Bank of Iraq, which is the only source." For information. "
LINK

DeepWoodz:  Imo...SET YOUR PEOPLE FREE!!! What does it take? How long is long enough for the corruption to continue? Just like ours,,,,it’s disgusting how long it takes for justice to prevail.

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Samson:  Deputy: Changing the dollar’s ​​exchange requires severe penalties for currency auction manipulators

12/11/2020 17:18:57

 MP for the Sairoun bloc, Burhan Al-Mamouri, said today, Friday, that the instability of the currency price will lead to confusion in the market and undermine confidence in the national economy.
 

In a statement, Al-Furat News received a copy of it, Al-Mamouri said, "The exchange rates of the Iraqi dinar against the dollar are witnessing clear instability in the market, while we notice them steady in the currency auction, which indicates greedy speculation by parties that do not want good for Iraq and its people." 

He added, "The big difference between the official price of the dollar and what is being traded in the local markets confused the market and raised citizens' fears of high prices of goods and foodstuffs, which causes a new burden on the Iraqi individual." 

Al-Maamouri called for "reconsidering the currency auction, monitoring exchange rates in local markets, and punishing all those who manipulate the currency rate with severe penalties to protect the national economy, which is suffering greatly as a result of the absence of a strategic vision in managing the country's financial file."   LINK

Samson:  Baghdad Trade: The Central Bank has failed to save the dollar exchange ... and a warning of disaster

12/11/2020 15:42:45

President of the Federation of Iraqi Chambers of Commerce Abdul Razzaq Al-Zuhairi criticized the performance of the Central Bank of Iraq in maintaining the exchange rate of the dollar against the dinar, which is rising in the local market.

Al-Zuhairi said in a press statement, "The Central Bank has two basic points, the first is to maintain the exchange rate, and the other is the development process. The bank has not succeeded in the exchange rate process or the development process, and this is a big problem."

"Now, over the past two years, in light of the collapse of oil prices, we have had to withdraw the central bank’s treasury, and this is not a positive situation, and if we are forced to withdraw larger sums in the end, an economic disaster will happen, and we cannot maintain the dollar," he added.

He said, "In my opinion, when the Iraqi government started in 2003, it set an exchange rate for the dollar of 1500 against the Iraqi dinar, and this was a positive stage, but the intervention of some ministers in a small country like Iraq, which is struggling with the dollar exchange rate, is a non-positive situation.

The stronger the dinar, the better the economy. On the contrary, it is possible for the Gulf countries to have a fixed exchange rate, but we are now in a diversified and liberal economy and we must build an industry, because the current exchange rate keeps pace with and serves neighboring countries.

And between "the more we have a low currency, the more it contributes to serving the industrial and agricultural sectors, so that there is no competition from neighboring countries."   LINK

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Samson:  The global economy is on the cusp of the best growth in 40 years in 2021

17:59 - 10/12/2020

With the approaching clearing of Corona clouds amid successive announcements of highly effective vaccines to eradicate the virus, the global economy is preparing to record the best annual growth rate during the next year since the year 1979, or about 40 years, with expectations of steady growth for all sectors of the economy that affected the pandemic, according to a recent research note Published by Oxford Economics.

The memo said, "With the support of Covid 19 vaccines, we believe that the pace of global economic growth during the next year will be the fastest over the past forty years, but it will not look like a big surge in growth, as growth will be uneven and determined by various factors."

The research company believes that growth next year will be characterized by three main features, the first of which is the accounts of winners and losers in the battle to obtain the vaccine. The memo said, “We expect a successive easing of precautionary measures and restrictions in developed markets by March or April, which will cause a jump in the economies of these countries by the middle of next year, while the distribution of the vaccine in emerging markets will be slower than its counterpart in developed markets, but after markets specifically, they will benefit. Of economic recovery in developed countries ”.

Oxford Economics does not expect the distribution of the vaccine to dramatically revive the travel and tourism sectors, although these sectors will witness a recovery from the effects of the pandemic, but the recovery of long-distance travel and transportation remains slower than the pace of domestic travel.

On the other hand, the report believes that the industrial sector will be a bright spot in the global economic scene next year. "In the short term, the sector enjoys preferential conditions while continuing to respond to high rates of demand and build stocks," the memo said, "but the second half of the year may witness difficult conditions for the sector as consumers' habits change and turn towards the service sector."

The memo expected the return of momentum to the private sector, to lead the world economy scene again after recovering from the effects of the pandemic.

"The growth stick will shift from the hands of the public sector to the private sector as was the case, but this transition will not be smooth," the memo said. "The mistakes of the past regarding the rapid move towards austerity measures will be avoided, but economic policies will not be regulated at the global level and the risks of lax governments are great, so we do not believe that core inflation will rise during the next year." LINK

Some "Thursday News" Posted by Samson at KTFA 12-10-2020

KTFA:

Samson:  Parliament's integrity announces the referral of 400 corruption files, some of them relating to "senior officials"

10:26 - 10/12/2020

A member of the Parliamentary Integrity Committee, Sabah Taloubi Al-Ugaili, revealed, on Thursday, that 200 corruption files had been referred to the Integrity Commission during the past period, indicating that there are hundreds of corruption files being investigated.

Taloubi said in a statement to "the information", "We have referred more than 200 large and serious corruption files, some of them related to senior officials, to the Integrity Commission," indicating that "the total of the files that were referred to the Integrity Commission during the current parliamentary session are more than 400 corruption files, most of them were not completed Until now".

He added that "there are other files that have been referred by other deputies," noting that "some of the files referred are related to billions being wasted, and the government has been able to recover these funds."

The Integrity Committee in the House of Representatives revealed, on Wednesday, that files were opened in the committee concerning the ministries of trade, health, oil and industry.   LINK

Samson:  Deputy: The Al-Kazemi government has failed to track down the corrupt people fleeing the country through "Interpol"

14:06 - 10/12/2020

MP Amer Al-Fayez confirmed, on Thursday, that the Al-Kazemi government had failed to track down the corrupt fugitives outside the country through the International Interpol.

Al-Fayez said in an interview with Al-Maalouma, “The Al-Kazemi government has made great promises to fight the most dangerous scourges in the country, which represent corruption permeating state institutions and causing great damage to the national economy, especially since the amount of stolen money is very large.”

Al-Fayez added, “The Al-Kazemi government has not achieved anything in the context of fighting corruption in the country, but has not recovered any money that was looted, and this represents a very big failure in addition to that it was unable to arrest many corrupt politicians and officials who fled outside the country and they swelled huge sums of money through Interpol and the rest Other institutions, stressing that fighting corruption is one of the priorities of the government and the most important points for which it was formed, because preserving public money is a national task that must be addressed with force and firmness.

And suffer Iraq has very high rates of corruption, amid international reports of the smuggling of huge sums of money out of the country by corrupt officials and officials.  LINK

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Samson:  Al-Sumaida’i: The currency auction is a smuggling of the dollar and its corruption goes beyond simple sales

12/09/2020 23:27:28

 An independent politician, Ibrahim Al-Sumaidaie, described the auction of selling the currency as "smuggling."

Al-Sumaidaie said {to the Euphrates News} that "the currency auction is a smuggling of currency and is based on covering the sale of the dinar for the purpose of import and credit." He pointed out that "the latest statistics of the Central Statistics Agency revealed differences in the currency auction that exceeded the $ 26 billion without basis, even in the amount of $19 million for the purpose of import. Most of its invoices are forged and the Central Bank evades responsibility."

Al-Sumaida’i added, "The only solution to stop the bleeding of currency selling is to inject the dollar in real and go to savings accounts," noting that "the problem of this auction has existed since 2010." The independent politician concluded, "The Central Bank of Iraq deluded people that there is no alternative to the currency auction, and it is he who admitted the existence of 45 trillion dinars outside the monetary policy of Iraq, and the corruption of the auction went beyond simple direct sales to specialization."

The representative of the parliamentary wisdom bloc affiliated with the coalition of Iraqis, Khaled Al-Jushami, revealed that Iraq lost 240 million dinars per month in the currency auction. Al-Ghashami said in a press statement, that the Central Bank of Iraq sells 4 billion dollars a month, even if we divide it by 200 in 5 working days, it equals one billion dollars in four weeks, and if we multiply the 4 billion dollars by 6, the result is 240 billion dinars per month for the Iraqi state from the auction selling the currency. He added that the profit goes to people in private banks, not to government banks, in order to return to the state treasury.

It is noteworthy that the member of the Parliamentary Finance Committee, Faleh Al-Sari, collected signatures to submit a request to question the Governor of the Central Bank of Iraq regarding suspicions in the currency auction.

 In the year 2019, the Central Bank sold $ 44 billion in hard currency in a currency auction, mostly intended to cover the import of materials and goods that the country needs, stabilize the price of the Iraqi dinar and prevent inflation, according to bank data.

However, as economists say, the volume of Iraqi imports reached 18 billion dollars, and they warn of "currency leakage" outside Iraq due to "corruption" in the currency auction in the country. In light of this, the Supreme Judicial Council announced that it would initiate the investigation of the documents of the joint banks in the foreign currency sale window.

A statement to inform the judiciary stated that the investigation court competent to combat money laundering and economic crime crimes responds to the request of the Central Bank and conducts the investigation with documents and documents submitted by the participating banks in the foreign currency sale and purchase window to verify its validity and compliance with the law. LINK

Samson:  Iraq is preparing memoranda of understanding with Britain in the economy and trade

12/09/2020 22:14:00

 The Secretary-General of the Council of Ministers, Hamid Naim Al-Ghazi, stressed on Wednesday the Iraqi government's interest in strengthening relations between Baghdad and London in various fields.

A statement by his media office said in a statement that Al-Furat News Agency received a copy of that Al-Ghazi "confirmed during his meeting with the United Kingdom Ambassador in Baghdad, Stephen Hickey, and his accompanying delegation of the Iraqi government's interest in strengthening relations between Baghdad and London in the economic and commercial fields and exchanging security information in combating Organized crime."

He pointed out that “the Iraqi government has assigned a government team to follow up the outcomes of the Iraqi delegation’s visit to London recently, after a team of relevant authorities was formed to prepare a special draft of bilateral memoranda of understanding in the fields of economy and trade, as well as the possibility of supporting the Ministry of Health’s effort to confront the Corona pandemic."

And the British ambassador expressed, "The UK's readiness to provide advice and support in the field of combating terrorism and organized crime, and that it is ready to provide all capabilities for political and security stability in Iraq, as well as to expedite the provision of vaccines for Coronavirus."   LINK

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Samson:  An Egyptian minister reveals an "Iraqi, Egyptian, Jordanian" agreement related to the economy

12/10/2020 17:35:07

The Minister of Planning, Khaled Battal Najm, discussed with his Somali counterpart Hala Saeed ways to enhance aspects of joint cooperation between the two countries in various fields.

A statement of his office, of which Al-Furat News received a copy, stated, "The Minister of Planning indicated during the meeting that took place in Cairo, today, Thursday, to the strategic importance of the relations between the two brotherly countries, and the momentum and remarkable development these relations witnessed in the last stage, especially in light of The participation of Prime Minister Mustafa Al-Kazemi in the tripartite summit between Iraq, Egypt and Jordan, which was held in Amman last August.

The Minister of Planning pointed out, "what the summit dealt with in terms of discussing ways to enhance joint tripartite cooperation in various fields between the three countries, especially those related to energy, electrical connectivity, infrastructure, and food, and to strengthen areas of economic, commercial and investment cooperation, with the aim of establishing a next stage of strategic integration between countries." The three are based on common development goals."

For her part, Al-Saeed noted the "implementation measures that have started in Egypt, Iraq and Jordan to increase the rates of trade and investment," revealing "the agreement of the ministers of trade and industry in the three countries to develop new plans and mechanisms to activate economic cooperation and joint trade exchange in order to achieve integration according to schedule A specific time frame with the participation of the Egyptian, Iraqi and Jordanian private sectors.   LINK

KTFA Members "Wednesday News" 12-9-2020

KTFA:

Samson: Fitch: The Total Debt Of The Gulf Countries In Foreign Currencies is 50 Billion Dollars In 2021

8th December, 2020

Fitch Ratings Agency said that the total issuance of debts denominated in foreign currencies during the next year may reach 50 billion dollars in the Arab Gulf countries, whether in the form of new financing or refinancing of outstanding debts, indicating the possibility of Kuwait obtaining legislative approval to enter the debt market during the year next.

Local debt issuances in the Gulf region will reach 40 billion dollars, which means that the volume of internal and external sovereign debt issues will reach 90 billion dollars.

The agency added that the countries of the region may witness withdrawals from sovereign wealth funds of about $ 60 billion.  LINK

Don961:  Member of Parliamentary Finance: The government is heading for an "urgent" economic step to control the dollar situation

2,812 Economie 12/08/2020 12:02 amm
Baghdad today - Baghdad

A member of the Parliamentary Finance Committee, Ahmed Hama Rashid, spoke today, Tuesday (December 8, 2020), about a new step that the government will take "compelled" to reduce the exit of hard currency from the country, and control the gates of currency auction.

MP Rashid commented on what the media reported about the existence of negotiations between Iraq and the International Monetary Fund, to determine a new exchange rate for the dollar against the Iraqi dinar, saying that "there are tools that the government uses to adjust the exchange rate, which is considered (income from inflation), or an increase. Revenue through currency auction, to reduce the deficit gap. "

He added during his speech to (Baghdad Today): "The government will also work to absorb the purchasing power of the Iraqi dinar, to reduce the marginal tendency for consumption, thus the state's imports will decrease, which leads to a reduction in the dollar exit rates from Iraq, and this also leads to a reduction in the dollar's demand." .

He continued, "This mechanism allows the central bank to control the outlets for selling the currency, with the aim of controlling also the exchange rates of the dollar."

Regarding the reasons for this approach, the deputy affirmed that "the government is forced to follow this path, since Iraq has no other than oil as a main source of revenue through its export and the entry of hard currency to it."

Earlier, Mazhar Muhammad Salih, the financial advisor to Prime Minister Mustafa Al-Kazemi, commented on Monday (December 7, 2020) on Iraq's negotiations with the International Monetary Fund regarding determining the exchange rate of the dollar against the Iraqi dinar.

The appearance of Muhammad Salih said, "All matters concerning negotiations between Iraq and the International Monetary Fund to determine the exchange rate of the dinar are in the discussion phase only."

He added, "The correct decision is for the cabinet when it discusses the draft budget very soon." The Finance Committee revealed before that, negotiations between Iraq and the IMF on determining the exchange rate of the dollar, while warning that these decisions may lead to inflation, which greatly affects the owners of limited income.  link

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Don961:  Clarification on the Central Bank's decisions to control the dollar exchange rate and the reasons for its recent jump

1,266 Economie 12/08/2020 11:09 amm    Baghdad today - Baghdad

The economist and member of the Board of Directors at the Central Bank, Majed Al-Suri, spoke today, Tuesday (December 8, 2020), about the reasons for the high exchange rate of the dollar in local markets.

Al-Suri said in an interview with (Baghdad Today), that "speculation, political and economic confusion, and citizens’ lack of confidence in the future of the Iraqi dinar are among the main reasons for the high exchange rate of the dollar in the local markets. "

Regarding the central bank’s role in dealing with concerns about the rise in the dollar’s ​​exchange rate, al-Suri pointed out that “the central bank sells dollars at an exchange rate ($ 1190), and there is no change in the price."

He continued: "Knowing that up to now, there is no intention of the Central Bank to raise the exchange rate, and all that is being circulated of opinions issued by MPs and politicians about fears of an increase in the exchange rate represent means of pressure to achieve certain goals."

He warned that "the central bank seeks to pump hard currency, for the purpose of controlling its exchange rate in the local markets."

He pointed out that "private banks and banking companies have been identified to buy 30 thousand dollars a week," explaining that "this reduction in the infusion of hard currency came because of the lack of travel for tourism, medical treatments, and the lack of liquidity from hard currency."

As the picture indicated, "the Central Bank decided to receive foreign transfers in the form of 75% for the dollar, and 25% for the Iraqi dinar."

The exchange rate of the dollar rose again in the local markets in Iraq, to ​​touch the new high today, Tuesday, 128 thousand dinars for every 100 US dollars.

The selling price of the dollar was 127,500 Iraqi dinars, while the purchase price was 126,500, roughly speaking. As for international foreign exchange rates, the euro reached 100 euros per $ 121.20.  LINK

Samson: The United Nations signs a new agreement to combat corruption in Iraq and the Kurdistan Region

9th December, 2020

The United Nations Development Program in Iraq and the Office of the Iraqi Prime Minister affirmed their partnership and commitment to preventing and combating corruption in Iraq by signing a new memorandum of understanding aimed at enhancing transparency, accountability and integrity in the public and private sectors.

The Memorandum of Understanding was signed on the International Anti-Corruption Day, and it is based on the efforts of the United Nations Development Program in support of a solid reform agenda to combat corruption in Iraq, in cooperation with relevant governmental and non-governmental institutions at the federal level and the Kurdistan Region of Iraq.

The Director of the Prime Minister’s Office, Judge Raed Juhi, said in a press conference on the sidelines of the signing of the memorandum, “We are pleased to continue working together to strengthen the bonds of partnership and cooperation between the Iraqi government and the United Nations Development Program in Iraq in the areas of supporting sustainable development, achieving transparency and integrity, combating poverty and corruption, and enhancing the role of Women, youth and civil society institutions.

For her part, the Resident Representative of the United Nations Development Program in Iraq, Zeina Ali Ahmed, said during the conference, "We are proud to work alongside the Office of the Prime Minister and other key partners to deliver a solid anti-corruption program in Iraq - a plan that will help improve public services, and reduce Inequality, strengthening the rule of law, creating a society more resilient to crises, and rebuilding trust between the Iraqi citizen and public institutions.

Since 2012, the United Nations Development Program has worked in partnership with Iraqi institutions to combat corruption in the country. The United Nations Development Program (UNDP) has been implementing the "Anti-corruption in pursuit of confidence" project in Iraq, which would provide support for strategies, policies, regulatory frameworks and legislation related to preventing corruption, and enhance the capacity of public institutions and NGOs to implement reform and support anti-corruption activities.   LINK

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Samson:  MP: Baghdad has the right to intervene militarily in Kurdistan if national interests are threatened

12:02 - 12/09/2020

Member of Parliament, Riyadh Al-Masoudi, affirmed, on Wednesday, that the federal government has the right to intervene militarily in the Kurdistan region if national and sovereign interests there are endangered in light of the escalating wave of protests in the region.

Al-Masoudi said in a statement to "the information", that "the constitution prohibits the Commander-in-Chief of the Armed Forces to send a security force to the region except at the request of the regional government," indicating that "the violent events that are currently taking place in the Sulaymaniyah governorate are the province's jurisdiction.

He added that "government interference is in one case, which is when the interests of national sovereignty are exposed to danger, such as oil interests or federal prisons, and thus the constitution permits the central government to intervene without obtaining approval from the region, as happened in the government of Abadi."

The head of the Future bloc, MP Sarkut Shams al-Din, in a previous statement to "the information", pointed the finger at the two ruling parties and their militias in killing protesters demanding their legitimate rights, calling on the House of Representatives to form a higher committee to investigate the events of Sulaymaniyah.  LINK

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Don961: The US State Department determines Washington’s position on Gulf investment in Iraq

810 Politics 12/08/2020 18:05  Baghdad today - Baghdad

The US Assistant Secretary of State for Near Eastern Affairs, David Schenker, revealed, on Tuesday, December 08, 2020, the US position on Gulf investment in Iraq.

Schenker said in a closed-circuit dialogue session in the presence of a (Baghdad Today) correspondent, that "America supports Gulf investment in Iraq and evaluates its investments in Iraq as well."

He added that "Gulf states' investment in Iraq is more effective than other investments in the presence of language workers and bilateral relations," pointing out that "there are parties in Iraq that work outside the framework of state authority and prevent the establishment of investment projects in the country."

On the American presence in Iraq, the US Assistant Secretary of State for Near Eastern Affairs confirmed that the main cadre of his country's mission will remain in the capital, Baghdad, in addition to the advisers with the Iraqi security forces.

He stated that "the main cadre remains in the capital, Baghdad, as well as advisors in with the Iraqi security forces," stressing that "the embassy will not be closed."

Schenker added, "The administration in Washington and the teams here in Iraq are all committed to the bilateral relationship with Baghdad," noting that "the temporary reduction will not affect the relationship between the two countries."

And he continued, "We have committed ourselves to Iraq and the Iraqis, remaining and continuing, support as well at all levels of security, health, economic, and other things as well," noting that "securing the protection of American personnel remains our first priority."

He continued, "The US State Department is assessing the security and protection of embassies in all parts of the world, including Iraq," adding: "We are intensifying our presence in Iraq according to the security and sanitary conditions, and even according to the circumstances of the holidays and occasions."  LINK