Iraq is Acting as if it's "International" News from KTFA Saturday 2-13-2021

KTFA:

Samson:  Iraq: The Budget Law Enacted Will Reveal The Start Of Implementation Of The Chinese Agreement

13th February, 2021

Advisor to the Iraqi Prime Minister Mazhar Muhammad Salih  said that the legislation of the budget law will reveal the start of implementation of the Chinese agreement.

Saleh added to the Iraqi News Agency (INA) today, Saturday, that project funds in the framework agreement with China are stabilized through the credit facilities provided by the Chinese side to the investment projects contracted, according to the same agreement, in the interest of Iraq, especially when oil revenues are low and Iraq's share in the same Iraqi-Chinese fund.

He added, "There are two positive indicators for the work of this agreement, which extends for about 20 years. The first is to place allocations in the federal public budget 2021 on the government investment side and about two billion dollars in favor of the agreement and its projects."

The advisor to the prime minister pointed out that "the second indicator, announced a good intention to implement 2000 model schools according to the Iraqi-Chinese agreement."

Saleh pointed out that "the legislation of the federal budget law for the year 2021 will reveal the start of implementation of the agreement and the resumption of work with it."  LINK

Samson:  Iran and Iraq launch direct loading and unloading at two border crossings

13th February, 2021

Khalil Heydari, Director of Customs in the Iranian Karmashan Governorate, announced, on Saturday, the inauguration of the direct loading and unloading of goods and goods at the Khosravi and Mehran border crossings, after Iraq gained membership in the International Road Transport Union.

Haidari said in a statement carried by Iranian media today, "According to a recent agreement between the two countries, transport trucks are allowed at the two crossings, direct loading and unloading, without the need to unload the loads and ship them from the borders." 

He noted that in the past, only tankers transporting oil and its derivatives were allowed to directly load and unload, but now all trucks that transport all goods and goods can do so, and the reason is that Iraq has become a member of the International Road Transport Union.  LINK

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Samson:  The start of the Iraqi-Jordanian talks to enhance economic cooperation

13th February, 2021

Started in Amman, today, Saturday, the Iraqi-Jordanian talks headed by the Minister of Industry and Minerals, Manhal Aziz Al-Khabaz, and his counterpart, the Jordanian Minister of Industry, Trade and Supply, Maha Ali, to enhance economic cooperation between the two countries.

The Jordanian News Agency "Petra" stated, "The two ministers discussed, at the beginning of the meetings, which were attended by the Secretary-General of the Ministry Yusef Al-Shamali, the Iraqi ambassador in Amman, Haider Al-Athari, and a number of officials on both sides," mechanisms for enhancing economic cooperation between the two countries and maximizing the benefits of available opportunities and agreements. Signed".

The visit of the Iraqi delegation to the Kingdom comes as a follow-up to the visit of Prime Minister Bishr Al-Khasawneh and the ministerial team to Baghdad recently to discuss areas of trade and economic cooperation, integration projects that are being worked on within the framework of the Jordanian-Iraqi-Egyptian tripartite cooperation, and the development of integration mechanisms in sectors of common interest such as the pharmaceutical industry and pesticides. Insecticides and veterinary drugs." And the Jordanian Minister, Maha Ali, affirmed, "Jordan's keenness to develop economic cooperation with Iraq in the areas of trade, investment and others in a way that serves the interests of both parties."

Ali said, "We seek to develop economic cooperation between the two countries to include strategic projects that contribute to maximizing the potential of the two countries and in a way that provides commercial and economic opportunities for the Jordanian and Iraqi private sectors."

The minister appreciated "the depth and durability of relations between Jordan and Iraq, which have been strengthened thanks to the visions and directives of the leaderships of the two countries."

For his part, the Iraqi Minister of Industry, Manhal Aziz Al-Khabbaz, said that "his country's government is interested in strengthening economic cooperation with Jordan, removing obstacles to intra-trade and encouraging the private sector to establish investment projects in a number of fields."

According to the agency, the two ministers held a meeting with the Jordanian and Iraqi private sector to discuss available opportunities in the fields of trade, industrial integration and investment, in the presence of the President of the Jordan Chamber of Commerce, Nael Al-Kabariti, President of the Jordan Chamber of Industry, Fathi Al-Jaghbir, representatives of the Jordanian Federation of Medicines Producers, President of the Iraqi Business Council Majed Al-Saadi and a number of Businessmen and investors in the two countries."

Al-Kabariti said, "Jordan and Iraq possess the ingredients for achieving economic integration in a number of fields, which requires redoubling efforts and continuing meetings at the government and private sector levels to improve cooperation fields."

In turn, Al-Jaghbir said that "Jordan has been associated with an economic partnership for many years with Iraq," expressing his hope that "the difficulties that limit trade exchange during the coming period will be addressed, which will also encourage the establishment of investments."

The visit will include the meeting of the General Authority of the Jordanian-Iraqi Company for Industry tomorrow, Sunday, to speed up the procedures of the feasibility study for the joint economic zone, which is one of the projects that are being discussed in the framework of tripartite cooperation. Jordan and Iraq are linked to a number of cooperation agreements in the fields of energy, agriculture, health, education, trade, and others, and the volume of trade exchange between the two countries last year amounted to about 448.3 million dinars.  LINK

Samson:  Turkey begins delivering oil tankers to Iraq on trains

13th February, 2021

Turkey began, on Saturday, the delivery of the first shipment of fuel tanks to transport fuel on board trains, which was manufactured in the state of Kocaeli (northwest) for the Iraqi Railways Company.

The first shipment included 50 tanks out of 400 manufactured by the Turkish "Criocan" company for the Iraqi Railways Company, with the aim of transporting Iraqi oil. The shipment took off after being loaded onto trucks to Iraq, in the presence of the Turkish Minister of Industry and Technology Mustafa Warank.

During his visit to the company, Warank said that the Kriocan company was established in 2009 in the "Gebze" region and is one of the most growing companies in Turkey. He added that the company exports 80 percent of its production to 66 countries around the world.

In turn, the company's board chairman, Tekin Orhan, said that the Iraqi railway company is currently implementing a project to transfer oil from road to rail. He pointed out that his company aims to deliver 100 tanks to Iraq until the end of this year, adding: “The Iraqi Railways Company decided to proceed with the implementation of its project by dealing with our company, and we are currently shipping the first 50 tanks. Until the end of 2022.    LINK

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Samson:  Iraq receives an official invitation from Russia to participate in the "Astana Path" conference

11:37 - 13/02/2021

On Saturday, Iraq received an official invitation from Russia to participate in the fifteenth (Astana Path) conference, to be held in the Russian city of Sochi, to discuss developments in the situation in Syria.

The Iraqi Ministry of Foreign Affairs stated in a statement, which it received "the information", a copy of it, that “Nizar al-Khair Allah, the Senior Undersecretary of the Ministry of Foreign Affairs, met with the Russian ambassador to Iraq, Maxim Maximov, and during the meeting, an exchange of views on various international and regional issues of concern to the two countries, and the Russian ambassador delivered an official invitation to Iraq to participate. As an observer in the fifteenth (Astana Path) conference to be held in the Russian city of Sochi for the period 16-17 / 2/2021, which will discuss developments in the security, political and humanitarian situation in Syria.

The two sides stressed during the meeting, according to the statement, "the convergence of Iraqi and Russian views towards ways to solve the Syrian crisis and the need to find a political solution to it by restoring bridges of confidence between Syrians with their various orientations and without external interference.

The meeting also dealt with “the issue of Iraqi students studying in Russian educational institutions, and the possibility of excluding them from the ban imposed on foreigners entering Russian territory due to the Corona pandemic. The issue of Iraq obtaining the Russian vaccine (Sputnik v) against Corona virus was also discussed.” LINK

Frank26 Friday "Dessert" Video, MilitiaMan, DeepWoodz and more 2-12-2021

KTFA:

Clare:  The new payment system is designed to reduce the dependency on cash in the Kingdom

International Finance Business Desk

The Saudi Central Bank recently announced that the launch of a new electronic instant payments system is scheduled to take place on February 21st.

The new payment system is designed to reduce the dependency on cash in the Kingdom. Successful trials have already been completed and soon the launch will happen with the participation of other banks operating in the Kingdom.

The recent developments come after the Kingdom recorded a 75 percent increase in digital payment activities last amid the coronavirus pandemic. The central bank further added the new payment system would improve the transparency of payments between companies and individuals and facilitate immediate financial transfers between accounts in local banks, with lower fees than current interbank transfers.

The Saudi Central Bank, which was previously known as the Saudi Arabian Monetary Authority (SAMA) has encouraged companies in the insurance sector to consider merger and acquisition (M&A) deals to reduce cost, increase efficiency and improve customer service, media reports said. The central bank believes mergers and acquisitions can make the sector more competitive and strengthen its financial position.

Citing the merger of Walaa Cooperative Insurance and Metlife AIG ANB Cooperative Insurance, and of Gulf Union National Cooperative Insurance and Al Ahlia Insurance as examples, SAMA has stressed that such deals can help improve the financial solvency of the companies involved in the deal.

Last year, the apex bank also imposed a ban on combining and insurance and reinsurance brokerage activities in the same firm. The decision stems from an attempt to boost stability in the insurance sector and add value to the Kingdom’s economic growth.   LINK

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DeepWoodz:  Imo... The agenda of the session No. (34) Monday 11 / January / 2021

Snippet concerning Saudi Arabia....

Fifth: The first reading of the draft law on ratifying the air transport agreement between the government of the Republic of Iraq and the government of the Kingdom of Saudi Arabia.  (Committee on Foreign Relations, Committee for Services and Reconstruction).

Was right in the middle of the talk about the budget! 

From MM.....
”There is no way that the G7, et al would have supported an exchange rate of a one time devaluation to go into a market economy. Saudi Arabia didn't just open borders to be apart of that. They could have done that long ago, yet, didn't until now.. That is a fact imo..

Previous article on the big boys...

"The first of these Arab countries with the most gold came in Saudi Arabia, with an amount of 323.1 tons

and.....

“Although Iraq has the second largest reserves in the world after the Kingdom of Saudi Arabia, this is estimated at about 110 billion barrels, which is equivalent to about 11 percent of the world's total reserves”

These are just a couple memories and there are many between Iraq and SA!

MilitiaMan: Think about this too. We saw last year the recovered 40 Tonnes of gold off the Syrian Border.. Not added to the reserves yet.. Wonder why? I do.

They also told 1 year +- ago that Interpol had found or uncovered an estimated 180 billion in stolen money. Then the World Bank is suggesting the e assets found upwards of $500 billion. They are working to claw it back.

No wonder the "Coalition of Law" group and Maliki are for changing the Exchange rate.. They'll too need money to pay for security. If they're ill gotten gains get clawed back, could get a bit hot around the collar without being able to afford A/C... lol

Aside from the fact that the Taxes and Tariffs, Liquid Natural Gas, Tourism, Phosphates, Sulfur, Gold, and on an on, will support their REER (Real Effective Exchange Rate) !! Big time.. imo..~ MM

Frank26:  Friday night “Dessert”

The first part of call is about products from members

The Dinar Intel starts about half way through video…

Also.Intel from MilitiaMan…….

https://www.youtube.com/watch?v=v63-fb-3HoE

KTFA Members "News and Views" Friday Afternoon 2-12-2021

KTFA:

DeepWoodz:  Imo...LADIES AND GENTLEMEN....this is directly related to the WHITE PAPERS.

READ SLOWLY

The Council of Ministers decided the following:

 a. Forming a committee called (the Supreme Committee for Reform) that includes:

 １. Prime Minister / President

２. Minister of Finance / Vice President

３. Minister of Planning / Member

４. Minister of Oil / Member

 ５. Secretary General of the Council of Ministers / member

 ６. Governor of the Central Bank / member

 ７. Executive Director of the Supreme Committee for Reform / member and rapporteur

 ８. Advisor to the Prime Minister for Strategic Affairs / Member

９. Advisor to the Prime Minister for Economic Affairs / Member

 1０. Head of the Legal Department in the General Secretariat of the Council of Ministers / Member

 1１. Two experts nominated by the Prime Minister / two members

１２. A representative of each of the two main international support organizations (International Contact Group, World Bank Group) / observers, without either of them having the right to vote.

 B. The Supreme Committee for Reform undertakes the following tasks:

 １. Supervising the implementation of the reform program as a whole, and the projects that it consists of, according to the plans and timetables approved by the Supreme Committee for Reform, including adding, deleting or amending new projects.

 ２. Ensure the availability of timely administrative and financing approvals during implementation, and take the necessary measures to overcome emerging obstacles.

 ３. Coordinate the work of the various bodies responsible for implementation and support, define the duties of each of them and achieve integration between them.

４. Monitoring good performance and implementing accountability in accordance with the law.

５. Submit periodic reports on the progress of the reform program to the Council of Ministers.

C. 

１. Cabinet Resolution No. (12) of 2020 shall be repealed, and the (Supreme Committee for Reform) replaces the (Emergency Cell for Financial Reform) formed pursuant to it.

２. Meetings of the Supreme Committee for Reform are held at the invitation of the president or his deputy with the approval of the president, and in the presence of at least half of its members, including the president or his deputy in the absence of the president, and decisions are taken by the majority of the attendees, including the session chair.

３. Committee meetings are held quarterly at least.

４. The Supreme Committee for Reform has an executive director named by the Prime Minister, who is directly related to him and authorizes the necessary powers to implement the committee’s decisions and achieve its goals, and is tasked with following up the implementation of its decisions and running its day-to-day affairs under the supervision of its president.

５. The Supreme Committee for Reform may form work teams or sub-committees to carry out specific tasks, and grant them the necessary powers to achieve their goals and facilitate their work.

６. The higher authority may host whomever it deems necessary to attend its meetings, in order to achieve its tasks.

７. The Prime Minister delegates the powers of the Council of Ministers for the purposes of the Supreme Committee for Reform.

 Dr.. The formation of a cell called (Reform Management Cell) headed by the Executive Director of the Supreme Committee for Reform, to be based in the Prime Minister’s office and undertake the following tasks:

１. The executive management of the reform program is completely under the supervision of the Supreme Committee for Reform.

２. Provide support to the officials of the reform program projects and the relevant executive teams, with the aim of improving performance and ensuring that the best implementation paths are chosen to achieve the set goals.

３. ‌ Enhancing communication between project officials and work teams on matters pertaining to each project, and coordinating the interconnectedness of the various projects within the reform program with the aim of enhancing integration and synchronization in implementation.

４. Dealing with developments directly as a first level for reporting and solving problems.

 ５. Tracking the implementation of basic activities, evaluating performance in an independent professional manner, and submitting periodic reports to the Supreme Committee for Reform, including reporting on work progress rates, obstacles, anticipated risks and suggested solutions.

６. Assist in identifying the procedures required of the project official in the event that implementation delays or deviates from the correct path

７. Follow-up and accountability of the officials of the reform program projects in case of delay in achieving the goals approved within the approved timetable.

８. Any additional tasks assigned to the cell by the Supreme Committee for Reform.

 E. The executive director of the Supreme Committee for Reform has the authority to contract with experts and executives without pay, and he may contract duly for a fee with the approval of the Supreme Committee for Reform.

All government agencies are obligated to give the reform program priority, cooperate and coordinate with the Reform Administration Cell, and submit the required reports and data within the specified timeframes, including naming an official with a grade of no less than a general director for each project, and allocating the work teams and human and material resources required to ensure the progress of the program Repair according to approved plans.

Get the idea??? They mean business. Hallelujah!

Don961:  Will Kuwait devalue its currency to meet the liquidity shortage?

Posted 12 hours ago  Independent Press Agency

The Independent / - Kuwait suffers from a severe shortage of liquidity, due to the spread of the Corona virus and the decline in global oil prices.

 While other Gulf Arab states have resorted to global debt markets to bolster declining financial resources amid the outbreak of the Corona epidemic, Kuwait has faced resistance from representatives of the National Assembly (parliament) to approve a bill that would enable the government to borrow.

 Concern is increasing about how Kuwait will fill the budget deficit, after the government transferred its last productive assets to its sovereign wealth fund in exchange for liquidity.

 Ultimately, analysts and investors say, the Kuwaiti government will have to act to shore up the country's finances, whether by overcoming the borrowing impasse or imposing taxes to increase revenues.

As a last resort, the Kuwaiti government can reduce the value of the dinar, but it is not clear how effective it will be in terms of boosting the economy, according to what was reported by analysts and investors.

"The risks of devaluation (the dinar) are limited," said Todd Schubert, head of fixed income research at Bank of Singapore Limited, which holds the sovereign debt of Kuwait, companies and banks.

 He added that Kuwait could resort to financial markets during the first half of 2021, expecting the necessary reforms to pass, because the available options, such as liquidating the assets of the sovereign fund, are limited.

In 2007, Kuwait became the first Arab Gulf state to abandon its peg to the dollar in exchange for a basket of currencies, in order to cope with the depreciation of the US currency, which led to an increase in the cost of imports, thus feeding inflationary pressures.

The post Will Kuwait devalue its currency to face the liquidity shortage? appeared first on Independent Press Agency.  link

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Samson:  Will a barrel of oil break the $ 100 barrier next year?

13:30 - 12/02/2021

An expert in the oil markets suggested the issue of a rise in the price of a barrel of oil to the level of $ 100 next year, despite the oil markets being under pressure due to the Corona virus crisis.

Amrita Sen, chief oil analyst at Energy Aspects, said in an interview with Bloomberg that oil prices may rise to $ 100 a barrel next year on the back of "very easy monetary policy."

In turn, Gennady Shamal, head of the Association of Oil and Gas Producers in Russia, said that the price of oil reaching the mark of 100 dollars per barrel in the near future is a fantasy, and that the price of a barrel of oil at $ 60 is a comfortable issue for the Russian budget.

He explained that the comfortable price for producing shale oil for US companies is about $ 45 a barrel, and when the price exceeds the $ 60 mark, additional oil is put on the market, causing the price to drop.

Brent crude was trading today at $ 60.50 a barrel, and Brent rose yesterday for the ninth consecutive session, and crude is heading towards recording the longest wave of gains since January 2019.  LINK

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Samson:  Digital media calls for popularizing the electronic payment experience in Iraq

12th February, 2021

The Digital Media Center DMC, called on Friday to circulate the electronic payment experience in Iraq, to ​​limit the transmission of the new Corona virus via fiat currencies.

The center stressed, in a statement received by Mawazine News, a copy of it, on the necessity of circulating the electronic payment experience in Iraq in a way that allows citizens to make purchases safely and quickly, as well as limiting the transmission of the Corona virus through paper currencies, as well as the benefits achieved to Iraqi banks.

He praised, "the presence of many points of sale in the malls that supported the electronic payment feature through electronic payment cards," calling for "support for more payment applications such as Apple Pay and the electronic payment services provided by telecom companies operating in Iraq."

He noted, "Circulating the electronic payment experience will encourage citizens to settle their salaries in banks and spend what they need only through the electronic payment mechanism, thus providing financial liquidityt to banks that support electronic payment systems."

He stressed, "the importance of activating electronic payment systems in reducing corruption and eliminating informal economic activities, and consequently the entry of individuals within the licensed systems operating in the country, as well as its importance in raising investment rates in the country, increasing production and providing more job opportunities."

He explained, "The electronic payment systems in Iraq still need more support and legalization and limiting the chaos of benefits imposed on individuals, which may reach many times what is imposed in neighboring countries, and banks should also be obligated to increase the number of ATMs and payment devices in a manner commensurate with the population density."   LINK

DeepWoodz:  Imo...Pushing electronic to the citizens not only reduces the need for printed currency, but also increases financial liquidity for the country, reduces inflation, and provides  the setting for a much stronger currency in the international world!!! 

Inflation rates. Inflation is a major determinant of exchange rates. Countries with low inflation usually see the value of their currency rise compared to others. Those with higher inflation, meaning each unit of their currency buys fewer goods and services over time, usually see their exchange rates fall.

Interest rates. Intertest rates are also closely tied to foreign exchange and inflation rates. If the rate a country pays when it borrows rises relative to other countries, more money seeking higher returns will flock to that country, demand for its currency will rise and the currency’s value will rise with it. Likewise, if interest rates fall, money will flee in search of higher returns and the exchange rate will drop.

Current account. A country’s current account includes its balance of trade and earnings on foreign investment. Its trade balance reflects its exports versus its imports and foreign debt. A current account deficit may occur when a country imports more than it exports, and this in turn can cause its currency to depreciate.
(Exports will never increase at a program rate because the cost of raw materials will not alllow for new enterprises. You have to allow a leg up for citizens first to get em up and running in the secondary markets.)

Government debt. When governments issue new debt, interest rates may rise to attract bond buyers, leading to more demand for its currency. But if investors fear that the government has taken on too much debt and may default, they may sell whatever government bonds they hold, undercutting demand for its currency and causing its exchange rate to decline. This, in turn, may cause inflation to spike.
(Iraq is at the perfect balance and is why they turned down new loans.)

Political and economic stability. This is another important factor, since foreign capital will gravitate towards countries where investments are secure and the business landscape offers few surprises. Money flocks to countries where the business climate is predictable and flees countries roiled by uncertainty. This favors the former’s exchange rate and undermines the latter’s currency.
(How many countries now coming in?)

 Speculation. Investors looking for profits through currency trading can also play a role, especially when a turn of events is deemed likely to have an outsized impact on a country’s currency. If that country is on the brink of a recession, for example, speculators may see its currency as vulnerable and sell it short. This can amplify any decline in its value.
(What they are preventing as much as possible right now. There would be no confusion at 1460 if that was the plan.)

https://www.americanexpress.com/us/foreign-exchange/articles/how-exchange-rates-affect-imports-and-exports/

Delta and Militiaman "IMF Article IV Consultation With Iraq" 2-11-2021

KTFA:

DELTA:  IMF Executive Board Concludes 2020 Article IV Consultation with Iraq

February 11, 2021

Washington, DC: On February 8, 2021 the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Iraq.

The COVID-19 pandemic and a sharp decline in oil revenues have exacerbated Iraq’s longstanding economic vulnerabilities. Real GDP contracted by an estimated 11 percent in 2020, reflecting a slowdown in non-oil activity and cutbacks in oil output as a result of OPEC+ decisions. Large fiscal and external current account deficits of 20 and 16 percent of GDP, respectively, constrained the government’s ability to mount an effective fiscal response to the crisis.

The authorities have begun to take much-needed steps towards ensuring macroeconomic stability while protecting the vulnerable. To help safeguard foreign exchange reserves and reduce the external imbalance, the Central Bank of Iraq has announced a devaluation of the exchange rate.

Alongside, the draft 2021 budget, submitted to Parliament, aims to reduce the fiscal deficit through measures to contain the unsustainable expansion of government wage and pension bills and to raise non-oil revenues, while significantly boosting targeted assistance to shield the most vulnerable. The authorities have also set aside sizable resources in support of their efforts to minimize the loss of life to COVID-19, including through acquisition and distribution of a vaccine.

The economy is expected to gradually recover, and the imbalances to narrow, although the outlook remains challenging. Real GDP is projected to return to its pre-pandemic level by 2024. The fiscal and external current account deficits are projected to decline over the medium term. Government debt is expected to peak in 2023 and decline gradually thereafter.

This outlook hinges on strong implementation of reforms and is subject to significant downside risks. Political constraints ahead of the parliamentary elections, renewed bouts of social unrest, or security risks could undermine the reform efforts, putting macroeconomic stability at risk. Furthermore, pandemic‑related risks and oil market uncertainties could further complicate the economic situation.

Executive Board Assessment [2]

Executive Directors agreed with the thrust of the staff appraisal. They noted that the COVID 19 pandemic and the sharp decline in oil revenues have further exacerbated Iraq’s existing significant socio-economic fragilities. Directors also noted the authorities’ efforts to strengthen the health policy response, boost social safety nets, and reduce the fiscal and external deficits. Nevertheless, downside risks to the economic outlook remain significant amid a challenging socio-political environment. Directors emphasized that implementing strong policies and structural reforms is essential to ensure macroeconomic stability and achieve sustainable and inclusive growth.

Directors emphasized that reducing fiscal imbalances is critical to ensuring fiscal and debt sustainability. They welcomed the authorities’ planned fiscal reforms in the “White Paper” and encouraged their careful prioritization and swift implementation while minimizing the impact on the vulnerable. To create room for the much-needed reconstruction and social safety nets, Directors highlighted the importance of strengthening public finances. To this end, they called for a comprehensive civil service reform to contain the public wage bill and recalibration of the pension system to put it on solid financial footing. Priority also needs to be given to increasing non-oil revenues and strengthening public financial management to reduce the fiscal risks stemming from off-budget expenditures and government guarantees.

Directors concurred that the recent exchange rate adjustment would help reduce external imbalances and preserve foreign exchange reserves. They underscored that a strong fiscal framework remains critical to ensuring the credibility of the new exchange rate peg as well as minimizing future need for monetary financing of the budget. Directors also saw need for further monetary policy measures by the central bank to contain inflation.

Directors stressed that wide-ranging structural reforms are necessary to cement macroeconomic stability and pave the way for higher and more inclusive growth. They underscored that reform efforts should focus on stemming the financial losses in the electricity sector. This requires sustained efforts to strengthen governance and improve collection, as well as gradual adjustment of tariffs to increase cost recovery and reduce arrears. In addition, Directors emphasized the importance of reducing corruption in key public institutions, continued improvement and effective implementation of the AML/CFT framework, restructuring of large state-owned banks to foster financial stability, and developing the private sector.

Directors noted the authorities’ interest in emergency financing with the Fund to support their stabilization and reform efforts with some Directors encouraging a longer-term arrangement to address structural challenges.

It is expected that the next Article IV consultation with Iraq will take place on the standard 12-month cycle.

https://www.imf.org/en/News/Articles/2021/02/11/pr2137-iraq-imf-executive-board-concludes-2020-article-iv-consultation?cid=em-COM-123-42639

DeepWoodz:  From imf website…..”When a country joins the IMF, it agrees to subject its economic and financial policies to the scrutiny of the international community. It also makes a commitment to pursue policies that are conducive to orderly economic growth and reasonable price stability, to avoid manipulating exchange rates for unfair competitive advantage, and to provide the IMF with data about its economy. The IMF's regular monitoring of economies and associated provision of policy advice is intended to identify weaknesses that are causing or could lead to financial or economic instability. This process is known as surveillance. imo

MilitiaMan:  "Monetary policy addresses interest rates and the supply of money in circulation, and it is generally managed by a central bank.

 "Fiscal policy addresses taxation and government spending, and it is generally determined by government legislation"

MilitiaMan:  It is hard to imagine that the IMF feels the Appraisal of the circumstances to stay with the recent "needed" devaluation of 23% to the local currency, is going to not harm the citizens and all the while creating an environment that will support them and their new private sector in doing so.

They didn't have a private sector at 1190, why would 1460 be any different? Maybe the key words are found in the Monetary and Fiscal issues they speak of.  If they meant that the recent exchange rate is the one that they are to peg to seems odd they talk too about it as the new exchange rate peg will minimize future need for monetary financing. 

Were they not just telling us they need no new Foreign loans for 2021? An article  talks about that today. They are to be rejected and cancelled.

A new exchange rate to allow internal borrowing is one way of dealing with that, also they talk about the electronic taxation at the borders today. An article speaks of that today as well. So this seems to be somewhat confusing, as taxation at the borders is revenue stream, sure, but, devaluation is inflationary, as we saw in food, goods and services of 30-50% increases.

So to minimize the impact on the vulnerable they need to have a priority on non oil revenues. Fair enough, but, is that going to strengthen the private sector? I think not. I will be cautious with this one, as banker speak can be confusing and on purpose too. Alan Greenspan was King.. imo.. We shall see what the weekend brings.

 They did tell us they could change the rate in the fiscal year of 2020 and they did. They also said the could or may again in early 2021. imo ~ MM

"Directors concurred that the recent exchange rate adjustment would help reduce external imbalances and preserve foreign exchange reserves. They underscored that a strong fiscal framework remains critical to ensuring the credibility of the new exchange rate peg as well as minimizing future need for monetary financing of the budget. Directors also saw need for further monetary policy measures by the central bank to contain inflation."

Directors emphasized that reducing fiscal imbalances is critical to ensuring fiscal and debt sustainability. They welcomed the authorities’ planned fiscal reforms in the “White Paper” and encouraged their careful prioritization and swift implementation while minimizing the impact on the vulnerable. To create room for the much-needed reconstruction and social safety nets, Directors highlighted the importance of strengthening public finances. To this end, they called for a comprehensive civil service reform to contain the public wage bill and recalibration of the pension system to put it on solid financial footing. Priority also needs to be given to increasing non-oil revenues and strengthening public financial management to reduce the fiscal risks stemming from off-budget expenditures and government guarantees.

Some "Thursday News" Posted by Samson 2-11-2021

KTFA:

Samson:  An economist warns of the continued exit of hard currency to other countries

08:34 - 11/02/2021

The economic expert, Ihssan Al-Kinani, warned that the continued exit of hard foreign currency from inside Iraq to the outside will have negative effects on the Iraqi economy, pointing out that any decrease in oil prices will have disastrous consequences for the loss of the currency.

Al-Kinani said to / the information /, that "the exit of foreign currency from Iraq has not noticed its negative effects at the present time due to high oil prices and the large amount of dollars entering the country."

He added that "the banking policy in Iraq is incorrect because of its reliance on the auction of selling the currency and not launching any investment projects to maximize revenues."

And that "the political class’s acquisition of banks, especially the currency auction, will lead to disastrous results that lead to the exit of most of the foreign currency from Iraq." To the outside, either through politicians to deposit them in foreign banks or through trade exchange, as Iraq depends 95 percent on foreign goods.   LINK

Samson:  Parliamentary law is studying a request to hold representatives who were absent from the sessions accountable

10th February, 2021

The Parliamentary Legal Committee revealed, on Wednesday, that it is studying a parliamentary request to hold representatives who are absent from parliament sessions accountable.

A member of the committee, Saeb Khadr, told Shafaq News, "The request was submitted by a number of parliament members, to hold representatives who are absent from attending the council's sessions accountable in accordance with the internal system." He added that "the Parliament Presidency is appointed to take measures and submits them to the relevant committees to take the necessary and hold them accountable in accordance with the internal system of the House of Representatives."

Khadr pointed out that "the dismissal of deputies, accepting their resignations or canceling their membership from the parliamentary session from the authority of the Presidency of the Council after the matter is presented to members of Parliament for a vote on it."

It is noteworthy that all four parliamentary sessions witnessed the absence of a number of representatives from attending the sessions repeatedly, and there are those who do not attend any session until the end of the session, especially some leaders of the large political blocs. LINK

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Samson:  MP: Hundreds of corruption files have been lying on the shelves of the Integrity Commission for years

16:05 - 11/02/2021

On Thursday, a member of the Parliamentary Integrity Committee, Sabah Taloubi Al-Aqili, accused the Federal Integrity Commission of delaying the procedures for resolving corruption files, indicating that dozens of these files are lying on the shelves.

"Hundreds of corruption files have been lying on the shelves of the Integrity Commission for years," Al-Aqili said in a statement to the agency, adding that "large and dangerous files were referred to the commission that have not been resolved yet."

And he considered that "the investigation by the Integrity Commission of the files referred is very little," calling on the political forces to "take positions in support of reforming the government system."

Earlier today, Thursday, a member of the Parliamentary Regions Committee, Mudhar Al-Karawi, considered the fight against corruption in Iraq as a media issue and that it did not reach the adults, indicating that Iraq is at the forefront of the countries in the world with corruption rates.  LINK

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Samson:  Parliamentary Finance: The Foreign Ministry did not move a finger towards the lost wealth of Iraq

10:45 - 11/02/2021
Member of the Parliamentary Finance Committee, Thamer Theban, confirmed, Thursday, that the Iraqi Ministry of Foreign Affairs did not move a finger towards the disappeared wealth of Iraq, warning of the loss of a wealth estimated at billions of dollars.

Theban said in a statement to / the information /, that "there is no seriousness with the Ministry of Foreign Affairs to follow up the file and resolve it," indicating that "Iraq owns real estate and hotels and has tea plantations and button in Vietnam, Thailand and Sri Lanka, the file is still pending without resolution." He added, "The Ministry of Foreign Affairs did not move a finger in following up the file of state real estate outside Iraq," noting that "the Ministry of Foreign Affairs’s move does not raise the level and importance of the file."

Theban revealed in a previous statement to "the information", the numbers about the size of the funds and the hidden Iraqi real estate outside Iraq, stressing that the value of cash outside Iraq amounts to 87 billion dollars, excluding farms, hotels and real estate.  LINK

Samson:  Integrity Commission: legal mechanisms to recover the stolen money

11th February, 2021

The Integrity Commission confirmed its endeavor to recover the money smuggled abroad, based on legal legislation

The head of the commission, Judge Alaa Jawad Hamid, said, in a televised statement that was followed by Al-Eqtisad News, that “the commission seeks, according to the law, to request assistance within the international anti-corruption convention or to seek assistance from professional companies or negotiate with sovereign neighboring countries to raise the file of extradition of convicts who have acquired their verdicts. The looted money. He stressed "the tendency for professional and specialized companies in this regard," citing "Tunisia's experience in seeking assistance from these companies and was able to recover the stolen money

The Parliamentary Integrity Committee confirmed earlier that some countries refuse to hand over the looted funds to Iraq, while stressing the need for legislation and important agreements to recover these funds

Committee member Alia Nassif said, "Some countries refuse to deliver the stolen money to Iraq, including Arab and European ones," indicating that "we need to legislate important laws and agreements, whether they are bilateral agreements or agreements within international organizations that oblige countries to recover the stolen money

She added that "legislating laws and agreements on recovering stolen money is important between countries," noting that the international community announced the enactment of such laws and she continued, "Iraq will have an effective and important role in those files related to conventions and legislation in cooperation with the Integrity Commission   LINK

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Samson:  The Integrity Commission: Restoring and preventing the waste of more than 1.2 trillion dinars during 2020
11th February, 2021

The Federal Integrity Commission revealed that more than 1.2 trillion dinars will be returned and wasted during 2020

The authority said in its annual report for the year 2020, which was reviewed by "Al-Eqtisad News", that "the public funds that were recovered or for which court rulings were issued to return them and which prevented and stopped the commission from being wasted based on its procedures, which were actually returned to the public treasury account, totaling (702,593,974,949) billion dinars) And (481,934,358) million US dollars

The commission clarified that it “worked on (13482) criminal cases in which the number of accused reached (8891) accused, and (12007) charges were charged, among them (63) ministers and of their degree, they were charged (92) charges, and (449) accused of grades Private directors, general managers and those of their rank were charged (701) charges

It pointed to "the issuance of (639) judgments of condemnation (854), including (4) convictions against (4) ministers and those of their rank, and (37) judgments against (29) of those with special ranks, general directors and those of their grade

And it indicated that it "examined (28057) communications, news and criminal cases during the same period, of which (7386) cases were completed through judicial procedures   LINK

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Samson:  Expert: Despite Its Future Importance, The Sovereign Fund Is Absent From The Iraqi Government's Thinking

10th February, 2021

The existence of a political fund is of great importance in supporting the Iraqi economy during crises .. But despite this importance, the issue remained absent from the thinking of the government .. and it remained a forgotten project even though everyone knows its feasibility for the country.

The oil expert and economist Sadiq al-Rikabi told Al-Mustaqillah that the idea of ​​having a sovereign fund for Iraq and benefiting from oil surpluses in establishing it was an idea that had been put forward since the eighties of the last century, but after 2003 everything was done in Iraq on the basis of quotas, including the distribution of ministries thus until The sovereign fund, if established, would be subject to quotas.

He indicated that the political blocs will make this fund a spoil and not a sovereign fund for the Iraqi state, and that these blocs are not convinced that the investment process should be inside Iraq, but rather that there should be an investment process in the first place, because thinking is limited to benefiting as soon as possible, and as high as possible.

Of the funds in favor of financing political parties and economic committees. He emphasized that thinking about investing inside Iraq, or the future of future generations, is far from the thinking of the parties, otherwise the situation will not reach what we are now after the loss of more than a trillion and a hundred billion dollars of Iraq’s money.

Al-Rikabi explained that Iraq today is the only oil country that does not have a sovereign fund, which has become present even in countries with less oil production than Iraq. He noted that a number of Iraq's assets abroad have come under the control of political parties, which benefit from them, and that there is encouragement for some parties that benefit from these funds without returning to the Iraqi state, thus absent from the economic vision of the successive governments to establish such a fund. And if the matter has reached the point of not giving the producing provinces their share of the petrodollars, then how do they think of a sovereign fund for the Iraqi state?

He stressed that if we had the correct thinking, Iraq would be one of the largest countries that possess sovereign funds, expressing his hope that there will be a national and political will to accomplish such a matter, as it brings great benefit to the Iraqi state and the future Iraqi generations, and it will also be a safety fund that preserves Iraqi finance.

Status and restores confidence in the Iraqi market as a market eligible for investment, and a market able to access foreign markets also thus opens many doors and many opportunities for the Iraqi state as a whole, but this unfortunately did not happen in this period.   LINK

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Samson:  In a shocking United Nations statistic, unexploded mines and bombs outnumber the population of Iraq

11th February, 2021

The United Nations estimated the number of uncontrolled projectiles in Iraq at 50 million.

Experts indicate that 1,200 km of the Iraqi-Iranian border area is contaminated with mines and bombs, with the presence of communities threatened due to the possibility of exploding mines and missiles, in addition to the presence of 90 radioactively contaminated areas in the south of the country due to the depleted uranium used by the coalition forces during the invasion of Iraq, along with what He was succeeded by ISIS.

The semi-official Al-Sabah newspaper, in its Thursday edition, quoted the director of the bomb handling department at the Civil Defense Directorate at the Ministry of Interior, Brigadier General Shehab Ahmed Abd, as saying that "the mine and war remnants file is large and large and cannot be completed by a year or two."

He pointed out that "recent United Nations reports estimated the number of military projectiles in Iraq at 50 million projectiles," noting that "the directorate's cadres carried out 567 duties in the provinces during the past year, during which they raised 33 thousand and 333 projectiles."   LINK

Frank26 Wednesday Night Video "Dessert" 2-10-2021

KTFA:

Frank26 Wednesday Night Video “Dessert”

2-10-2021

This video is in Frank’s Opinion only!

Intel starts about minute 41:00  Here are a few highlights:

Frank: In the Fab 4:  The UST, The IMF, The World Bank

According to articles The IMF gave the approval in December to lift the 3 zeros from the currency. . The World Bank says in January on the 29th that they have given Iraq all their help to raise the value of their currency. And that is what they are doing.

Now the United States Treasury…they are done…they brought in their super computers 2 years ago and they  recalculated, recalculated and recalculates and turned it all over to the IMF.

What does the IMF do? They tell everybody what to do with their currency. And Iraq was going to raise the value of their currency in December. What happened?  Well instead they decided to lower the rate to bring in more 3 zero notes. Was that mission accomplished? It sure was.  Now we know the game plan what comes next.

So UST-done, IMF-done and World Bank-done.

On Monday I told you to circle Feb. 8th on the calendar…It was historical…..I told you this was the day that Iraq stopped the auctions (the part that we wanted stopped) . Today Iraq is now saying they have a digital Iraqi currency now. A digital Iraqi dinar is INTERNATIONAL. Not just internal .

These are tell-tale signs that scream what they are doing.

FF: Our Firefly (Contact in Iraq)  shared with us at about 6:55 this morning that today was the last and final day of the budget review. They are saying they will vote on it on Saturday.

Frank: IMO its already voted on.

FF:  And all foreign loans in the 2021 budget will be canceled

Frank:  This is brilliant…….The IMF wanted to give them a loan…but now they don’t need it.

FF: It could be a very nice weekend

https://youtu.be/1Eq868n3M18?t=2

Articles Frank talks about during this video:

FINAL ARTICLE #600 

Representative of the World Bank: The Iraqi society is “youth” capable of advancement

Monday 08th February 2021  Baghdad: Hazem Muhammad Habib

 The Resident Representative of the World Bank in Iraq, Ramzi Numan, confirmed that the bank supports the Iraqi government in several directions to get out of the current economic crisis, and that there is great support for the white reform paper adopted by the government in order to get out of the crisis, and while he called for comprehensive reform in the Iraqi banking sector In an interview with Al-Sabah, he emphasized that Iraqi society is a “youth society” that can rise in the country if its energies are properly and seriously invested. The following is the text of the dialogue: 

In light of the current economic situation, the "Corona" crisis and the global economic crisis, what are the frameworks for the World Bank's cooperation with Iraq to help it out of this crisis?

It must be noted first, that the experience and history of the World Bank to work with the government and people of Iraq extends to a long history of projects that have been jointly worked on, but the current bank is currently working more closely with the Iraqi government to face emerging and accumulating crises that are added to the existing problems. In Iraq, and the consequent decline in oil prices, protests, the Corona pandemic and its health, economic and social consequences, which have formed a great burden on the country, and these conditions are the worst since 2003 for a single economy dependent on oil, and there is a fact that all of this left great burdens reflected on the ability of The Iraqi government in dealing with emergency needs.

The World Bank has set up a very large financial portfolio file for the projects it implements in Iraq, and this portfolio is directed to several destinations, whether reconstruction projects for areas liberated from “ISIS” gangs or to face the social crises that have arisen from this matter, in addition to some other projects that work On structural reforms in the economy, and we are working hard with the government to approach solutions to emergency crises and keep pace with the government in the reform white paper initiative that I put forward as well as the white paper proposed by Parliament, and here the World Bank and other donors enter in an attempt to support the government in this context, and stand on what It requires capabilities, whether material or technical, to carry out these reforms aimed at diversifying the economy in addition to protecting human capital in Iraq, as well as increasing non-oil revenues and opening opportunities for private sector investments.

Young wealth

Regarding the rate of growth in Iraq during the year 2021, that is, during the budget, are there prospects for cooperation to solve the Iraqi economic downturn?

We are seriously trying to support all reform efforts undertaken by the Iraqi government, and when we look at resolving the issue of deflation, this comes through creating job opportunities, and we believe that Iraqi society is a "youth society" in which youth constitute a basic wealth that must be built upon and given appropriate opportunities to enter The labor market is part of a large process that begins with education and other factors, and job creation is not necessarily through government appointment, which is witnessing great inflation and carries burdensome financial and economic consequences, but by encouraging investments in an appropriate environment and revitalizing the private sector, and restoring confidence between Citizen and government.

The World Bank seeks to support the Iraqi government in developing very sound fiscal and monetary policy frameworks that allow the continuation of financial and banking work, and on the budget, we are waiting for the Iraqi parliament to vote on it so that we can know the possible lines of support from us to the government, after scheduling the revenues and expenditures and what is the total deficit resulting from The budget, and what are the matters that the government will resort to to face this deficit, whether by internal or external borrowing, and how the government should pay off the debts owed by it and its arrears, and after that the World Bank will have a clear position in support with two parts of the investment through funded projects, and budget support, which is a part related to With the basic reforms that the government of Iraq is committed to, which are fundamental reforms that allow improving the country's financial and monetary reality in stages.

For example, the World Bank supported the unified pension law that was proposed in Parliament, and our approach in that law was to create a law between the two sectors The year The private sector allows benefits to be transferred between them, and it is one of the main incentives that push citizens to seek work in the private sector and not put pressure on the public sector, which reduces the burdens on the government.

 White paper

What are your programs to address the distortions in the Iraqi economy, especially in the area of ​​spending and restructuring it? 

We are trying to negotiate with the government on major strategic directions, to see what are the basic steps in which we can cooperate, and we are talking about the (white paper) that the government put on the table which deals with basic problems, as well as about diversifying and increasing revenues away from oil, as the agricultural sector is important It is very important to Iraq that it must be re-activated and developed, and the electricity sector is witnessing a frightening material and technical waste, and the support we provide to the government in this field must be reconsidered, and all of this must be matched by consideration of increasing investment projects that create job opportunities, and increasing basic infrastructure projects to create opportunities. Work, and we at the World Bank support the move towards decentralization.

We believe that in light of the current crisis, the opportunity is now ripe to reconsider how to develop solutions to the accumulated crises in the country, and the International Finance Corporation (IFC) has a rapid financing mechanism, which is a mechanism it has launched to confront Corona and to help the country in this crisis, although it is mainly based on a health issue. But part of it is to support the state budget, and the World Bank continues to communicate with the Iraqi government to know its needs and ways to support it.  

The Iraqi government pledged to adopt a set of implications for reforming the economy and signed a document during a World Bank conference in 2019, and the document crystallized later in what became known as the White Reform Paper, which is the result of cooperation between the Iraqi government and the World Bank, and it included three basic factors, which are economic diversity and the importance of Government and institution building away from interference and the climate of corruption, and the third and most important factor is human capital. The Iraqi citizen must have access to health, educational, educational, and educational services and integrated living conditions, which allows him to enter the labor market. We are looking forward to this full circle (institutions People and diversity).

 Censorship and money laundering

Do you have a plan to strengthen banking supervision and restructure it in the public sector?

We have a technical effort through consulting services that we provide to the Central Bank in looking at the reality of the banking in Iraq, and we believe that the Iraqi private banking sector is still weak, and in general, the Iraqi banking policy must be reconsidered to improve the banking reality by going towards studying the market as well as increasing its investments, especially categories Young men who want to invest, start a new job, and go out with a different job than hiring. 

What is the World Bank's role regarding financial enhancement and anti-money laundering?

The World Bank has a project that is being worked on with the Ministries of Finance and Planning, which is the Financial Management Regulation Project, and the project includes various items in terms of developing existing capabilities, whether at the level of debt management, information organization, systems automation, or at the level of anti-money laundering policies and looking at money transfers, all of these The reform steps that actually allow it to take root within the Iraqi institution are part of this project, and last week the Minister of Finance signed a grant from the European Union implemented by the World Bank to help improve the mechanism of financial control and transparency in financial work and in some basic Iraqi sectors such as gas and petroleum.

 Signing the grant in the amount of $ 14 million, and it is added to a loan that the World Bank implements in the amount of $ 48 million. These two agreements (the European Union grant and the World Bank loan) are implemented by the bank in a unified manner with the Ministry of Finance and the Ministry of Planning.   LINK

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Expert: The Formation Of A Committee For Economic Reform Will Begin To Restructure The Iraqi Economy

10th February, 2021

The expert on economic affairs, Raad Twaij, confirmed that the formation of a committee for economic reform is a good and unprecedented step to implement the provisions of the White Paper.

Twig said in a press statement that its independent follow-up: “The formation of a reform committee by the prime minister is an unprecedented step and an operational aspect of the white paper, and thus the beginning of structuring the Iraqi economy, analyzing the imbalances that are centered in the rentier economy and trying to rid the Iraqi economy of gaps and vibrations, especially the recent financial crisis and expectations. The World Bank deflationary rate of 12% this year.

He pointed out that "the rise in oil prices above $ 60 a barrel is considered a major contributing factor to support the reform wave and to complete the reform process."

Twig called for the Iraqi economy to be divided into two halves, the first part related to the losing sectors, how to reform it, the winning part, how to deepen it, and the need to rely on human development, which will contribute to expediting the reform process and building new capabilities and structures for the Iraqi economy.  LINK

Frank26 Tuesday Night Update "The Game Plan" 2-9-2021

Frank26 Special Tuesday Night Update and Exchange Apt. Q&A

2-9-21.......THE GAME PLAN

With a special FireFly (Eddie) report

This video is in Frank’s opinion

Frank26: Inside of Iraq the value will be 1 to 1 and will stay 1 to 1.….It has to . A Dinar is a Dinar.  But outside of Iraq, with the international value added to it….oh my goodness, when Saadam was in control – if you had one Saadam Suisse note- it was worth about $3.22 USD internationally.  I believe it will go up even higher.

REMEMBER- DO YOU HOMEWORK...........GET A FINANCIAL ADVISOR

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

https://www.youtube.com/watch?v=VQvQ6lQFnRI

KTFA Members "Tuesday News" 2-9-2021

KTFA:

Samson:  The Iraqi budget is on the table of the prime ministers and the republic

8th February, 2021

The Iraqi Prime Minister, Mustafa Al-Kazimi, discussed today, Monday, with the President of the Republic, Barham Salih, efforts to approve the state budget for the current year 2021.

Al-Kazemi's media office said, in a statement received by Shafaq News Agency, that the latter received, this evening, the President of the Republic, Barham Salih, indicating that during the meeting they discussed the latest political developments and general conditions in the country, as well as the efforts made to approve the General Federal Budget Law for the year 2000 2021.

He explained that the meeting discussed preparations for the conduct of the election process and preparations for it and providing all the requirements for its success, in a way that ensures that its results are the true expression of the will of the Iraqi people and their choices.

According to the statement, both the Prime Minister and the President of the Republic stressed the importance of integration in the work between the legislative and executive authorities, in order to face challenges and provide an opportunity for the success of the reform efforts targeted in the government's work program.    LINK

Samson:  Oil continues to rise, recording $ 61 a barrel

02/09/2021 08:33:36

 Oil futures rose 2 percent to their highest levels in more than a year, and Brent surpassed the level of $ 61 a barrel, supported by cuts in supplies between major producers and hopes of more economic stimulus in the United States.

Brent crude, the world benchmark, rose $ 1.22, or 2.1 percent, to settle at $ 61.18 a barrel. U.S. West Texas Intermediate crude futures rose $ 1.12, or 2 percent, to settle at $ 58.97 a barrel. Both benchmarks hit their highest levels since January 2020. Brent and US crude have jumped more than 60 percent since the beginning of November, supported by optimism about the distribution of anti-virus vaccines, as well as production cuts by members of the OPEC + group.

Investors are watching a $ 1.9 trillion aid package to mitigate the repercussions of the Covid-19 pandemic in the United States, which is expected to be approved this month. Oil prices were also supported by dwindling hopes that Iranian oil exports would soon return to the market after US President Joe Biden said the United States would not lift sanctions on Iran just to bring it back to the negotiating table.   LINK

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Samson:  Six years imprisonment for a bank manager in Iraq

9th February, 2021

On Tuesday, an Iraqi court sentenced a bank manager to prison for charges related to corruption files.

A judicial source told Shafaq News Agency, "Based on the investigations of the Anti-Corruption Committee, the convicts were sentenced according to the provisions of Resolution 160 to 6 years imprisonment and a fine of 10 million dinars for the director of the Agricultural Bank, Adel Attia Khudair and four other employees, who were arrested with him by a special force from the committee."   LINK

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Samson:  The US embassy issues a notice to residents of the capital, Baghdad

9th February, 2021

The US embassy in Iraq announced on Tuesday that it will set off warning sirens in the coming days as part of the exercises that it will conduct at the time it apologized for the noise that would cause.

"In the coming days, the US embassy will conduct a series of tests that include our emergency equipment and procedures," the embassy said in a statement today. 

It also noted that the sound of sirens and other types of noise will reach the residents living in the areas surrounding the embassy when these exercises are conducted. 

The embassy said it apologizes for any inconvenience this may cause.  LINK

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Samson:  Nazem reveals joint work with the World Bank on the level of loans and consultations

02/09/2021 18:31:21

Cabinet Spokesman and Minister of Culture, Hassan Nazim, during the weekly press conference:

 
The government received the 2021 budget with amendments from the Parliamentary Finance Committee

Forming a committee in the Council of Ministers to study the budget amendments within two days

There is work to be done for the second part of the projects white paper

The White Paper is a pure Iraqi effort

The Cabinet voted to approve the government's plan for the reform program

There is study and joint work with the World Bank on the level of loans and consultations.  LINK

Don961:  Movement to develop the Iraq Stock Exchange

Tuesday 09 February 2021 Baghdad: Hussein Thahab 

 Empowering the Iraqi market for securities represents the goal of the next stage of the Securities Commission, as the volume of shares circulation is a mirror reflecting the economic activity in the country, and the Commission’s efforts are looking to reach a trading volume of 3 - 5 million dollars per day to be a semi-emerging trading market. 

The head of the Securities Commission, Faisal Al-Haims, said to {Al-Sabah} «There is an active movement to develop the Iraqi market for securities in proportion to the economic potential of Iraq».

Poor circulation

He added, "The reality of stock trading in the market is below the level of ambition, which makes it imperative for us to work on studying the causes of poor trading and moving towards addressing them."

He pointed out that «Iraq has an economy not to be underestimated at the level of the region and the world and has the second oil reserves, and this large wealth in this sector, along with wealth in other sectors, can be more effective and this is positively reflected on the performance of the Iraqi market for securities». 

Re-circulate

He revealed that «the Commission examined the causes of poor circulation and found that a number of companies were suspended due to their failure to make disclosure, and this prompted us to issue decisions based on the reality of the situation that Iraq and the world went through due to the Corona pandemic, which was considered a force majeure, and we were able to re-circulate a number of companies And work continues to look at the reasons for the suspension and address that and return a number of companies to circulation ».

He pointed out that «this measure helped to move inactive funds by re-trading the shares of the suspended companies after raising the reasons and this returned the movement to the reality of stocks».

Maximize circulation

Al-Haims also confirmed, "There are plans to maximize trading and its value, by introducing a daily trading volume of 3 to 5 million dollars, and from here we have a semi-emerging trading market that contributes to attracting foreign investments." Pointing out that «this approach represents one of the most important goals that the Commission is working to achieve during the coming period».

He cautioned that «raising the level of foreign investments in the Iraqi market for securities requires the presence of attracting elements that contribute to this and the most important element of achieving profits by joint-stock companies and making use of price variables in daily trading». 

He explained that «the legal environment for the functioning of the market is appropriate and appropriate for work, especially since the market is not modern and has been operating for a long time, and the country has wealth that makes us have a large stock market».   LINKLINK

Monday Night KTFA CC "Green Light" and more 2-8-2021

KTFA:

Monday Night KTFA CC

Frank26:  2-8-21.....GREEN LIGHT

With Walkingstick, Delta, Petra and Militiaman

PLAYBACK IS: 605.313.5163 PIN: 156996#

This video is in Frank’s and team’s opinions

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

https://www.youtube.com/watch?v=QNH_uZJZ6p8

Samson:  Kurdish MP: All channels of understanding have been closed with Baghdad, and the budget may be passed by the majority

14:09 - 08/02/2021
Deputy for the Kurdistan Islamic Group, Salim Hamza, on Monday, described the negotiations with Baghdad that the budget is complex and unresolvable, indicating that the budget may be passed by the parliamentary majority.

Hamza said in a statement to "the information" that "the budget will pass by the political majority if things remain on it and because of the insistence of the forces in Baghdad to hand over all the exported oil."

Hamza added that "the negotiations with Baghdad on determining the proportion of the region and passing the budget reached a dead end because it is complicated and everyone is committed to his position."

He continued, "A legal exit will be added in the articles on the Kurdistan region, such as an addition. The parliament has the right to make the amendment or the government to articles 10 and 11 of the budget paragraphs that include Kurdistan."    LINK

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Don961:  Canceling the currency auction, reducing borrowing, and “isolating” the central bank’s reserves ... the most important thing for hard currency in the 2021 budget

2021-02-08 Yes Iraq: Baghdad

Today, Monday, the Parliamentary Finance Committee revealed a tendency to cancel the currency auction, while indicating that the Central Bank's reserves will not be affected in the general budget for 2021.

 The committee's reporter, Ahmed Al-Saffar, said in statements to the official agency and its affiliate, Yass Iraq, that “when the draft budget is approved in the House of Representatives voting session, it becomes a binding law for the government and enforceable,” indicating that “the Ministry of Finance then issues instructions within a week or two to send to ministries to facilitate The budget execution process ”.

He added that "the budget deficit was reduced from 71 trillion to 24 trillion only, as the lending scheme deducted the treasury transfers to the central bank 47 trillion, but we reduced it to only two trillion, if the price of a barrel of oil remained at 45 dollars," noting that "the deficit will disappear soon." The government will have an abundance of money if the price of a barrel of oil remains high.

Al-Saffar stressed that "the Central Bank's reserves will not be affected at all in this budget, as we have reduced borrowing and canceled foreign loans."

The decision of the Finance Committee indicated that "there is a tendency to cancel the currency auction because it does not exist in all countries of the world except in Iraq," explaining that "the currency auction mechanism is incorrect, and hard currency is supposed to be given to actual importers, students, professors, and patients who travel outside the country and not to banks." “.

 Al-Saffar indicated that "there is an increase in social care because large numbers of them were included, with the private sector participating in employing the unemployed," noting that "the budget carries a clear economic and social vision."

He stressed that "the committee will hold a meeting with the political blocs to bridge the gap in views and come up with the draft budget that can be passed easily under the parliament."

Regarding the exchange rate of the dollar, Saffar pointed out that "the exchange rate is exclusively within the authority of the Central Bank, and it is not possible to interfere in its work as it is responsible for the monetary system, the monetary mass, the exchange rate and the cash reserve. link

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Don961:  The Iraqi economy suffers from a historical deficit in the 2021 budget, and Kurdistan is its most prominent problem

- 17 Hours Elapsed   Researcher Shatha Khalil *

The Iraqi economy faces a number of challenges, starting from the significant decline in oil prices to geopolitical tensions and social unrest in the context of poor public services and the lack of progress in combating rampant corruption, which has produced poverty and unemployment for most of the people, and today it faces the repercussions of the dire Corona crisis.

A report by the Institute of International Finance says that last year, Iraq went through the worst rate of contraction since 2003, reaching 11.2%, and the country dealt with two double shocks represented by the drop in oil prices and the spread of the Corona virus, but despite this, the oil GDP is expected to grow 1.6% this year, the non-oil GDP will grow 3.1%.

The World Bank says that the Iraqi economy after the passage of nearly two decades

The country remains stuck in a fragile reality, facing increasing political instability, mounting social unrest, and an ever-deepening gap between state and citizen. And in the midst of a number of crises; Including falling oil prices, the Corona pandemic, and recent protests. This is in addition to the accumulation of the effects of weak economic policies, the absence of reforms, and the inability to address corruption.

Iraq has now seen its worst annual GDP growth performance during 2020, and instability, lack of job opportunities, corruption and poor service provision remain among the most important risks surrounding the country's long-term growth.

The factors of low prices and the spread of the epidemic, along with the ongoing political instability in the country, have led to an inflated Iraqi budget deficit to 15.6% of GDP in 2020, and a sharp decrease in its official reserves.

Budget Law and its Problems:

The budget bill for 2021, which was submitted by the Iraqi government to Parliament, contained a historical deficit, which sparked widespread debate about the ability of state resources to keep pace with this huge volume of expected expenditures.

With the change of the Iraqi dinar exchange rate against foreign currencies recently from 1190 dollars per dinar to 1450 dinars per dollar, and the figures in the budget are estimated in Iraqi dinars according to the new exchange rate, where the large gap between the size of expenditures and expected imports is noted.

And that the value of the expected deficit in the budget of Iraq for the year 2021 is more than 50 billion US dollars, and these figures formed a surprise within the financial and economic circles, as they come in a year that is supposed to witness great austerity, due to the decrease in oil revenues and the continuing negative effects of the Corona pandemic on the economy, and the absence Any prospect for prosperity.

The 2021 budget showed how Iraq is almost completely dependent on the proceeds from the sale of oil, as its project plans to sell 3.25 million barrels per day at a price of 42 dollars per barrel, to raise nearly 50 billion dollars within 12 months, this confirms the weakness of the economic policy followed in Iraq, which is based on randomness. And getting lost in decisions if there are decisions for reform.

In order to maximize non-oil imports, the state tended to include in the draft budget the imposition of taxes on the vital work sectors in the country, such as mobile phone companies, which have reached 20% of the sales tax of their packing cards, while every Iraqi who wants to travel to any other country will have to pay about $ 18, or $ 7 if he wants to travel internally.

The draft budget imposes a 10% tax on malls and large markets, as well as on car sales, while the tax rate on spirits and tobacco is 20%.

Only employees who receive less than about $ 300 per month have survived the deductions within the budget law for 2021, as the more the employee’s salary, the greater the monthly deduction.

It seems that the series of budget problems without modifications lead to inherited problems and without radical solutions.

A member of the Finance Committee in the House of Representatives Jamal Cougar said, "There are many observations on the country's general federal budget law for this year," indicating that the draft budget needs major amendments before it is approved.

And that "the task of the Finance Committee will be arduous, and the budget will witness changes in its chapters and paragraphs, so it will take time to complete these amendments," noting that "the budget came at a difficult time in light of attempts to thwart the government and a difficult economic circumstance, in addition to external interventions with attempts to stop the port project." FAO and claims to invest Iraqi gas and pressure to support and revitalize the local product.

Economists add, that the budget is not consistent with the Iraqi financial and economic reality, and contains problems that may cause major crises later if passed in this way.

"The FAO project", which is considered one of the strategic projects, was allocated only 400 billion dinars (about 273 million dollars), which represents 12% of the cost of constructing the port, while large sums were allocated to the ministries for maintenance and commodity requirements. And they see that “the budget ignores the real economic reality of the country, and is in violation of the Financial Management Law for the year 2019, which specifies the budget deficit of 3% of GDP, but the percentage of deficit in this budget of GDP is 24%.

The "proportion of the Kurdistan region" is one of the most prominent problems that are considered difficult issues and will be included in the political bidding section with an absence of balance and a fair distribution of financial resources between ministries, and the same is true for some Sunni provinces.

He explains that “the budgets of Nineveh, Salah al-Din and Anbar amount to 918 billion dinars (about 628 million dollars), and the number of its population is 6 million and 708 thousand, while the budget of another Sunni province, Diyala, is about one trillion dinars (about 684 million dollars) and its population is about one million and 548. alpha.

It is clear that there is misconduct and planning in some ministries, for example, the budget of the Ministry of Agriculture is 310 billion dinars (212 million dollars), while the Sunni endowment budget is 309 billion and the Shiite endowment is 830 billion dinars (about 568 million dollars), which is seven times the budget of the Ministry of Agriculture , While the overall size of the budget is exaggerated.

According to a member of the Finance Committee, the reform paper proposed by the Finance Committee was not observed, but rather it was limited to imposing taxes and deductions without reforms, and who indicated that “the budget law did not address administrative corruption, and was reduced to the issue of multiple salaries and border outlets without setting a time limit for the completion of This matter".

Specialists believe that the budget does not coincide with the economic downturn, low oil prices, the Corona crisis, and the successive crises suffered by the economy, and despite all the exceptional circumstances, the budget remains the second largest budget among Arab countries' budgets and is overwhelmed with expenditures.

The financing of the deficit, according to the budget, will be through internal and external borrowing and the issuance of national bonds, and this will plunge the country into debt and harm the Iraqi economy. They concluded that “the government deliberately sent the budget late to embarrass the parliament, as the value of the Iraqi state’s internal loans amounted to about 80 trillion Iraqi dinars ($ 67.7 billion), while foreign debts amounted to about $ 60 billion, more than half of which were debts recorded during the eighties The last century during the Iran-Iraq war.

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

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

According to analysts, these deductions are a government attempt to force the simple Iraqi citizen to assume heavy responsibilities that he had no hand in the reasons for their existence.

In conclusion, Iraq needs more public investment to repair the infrastructure destroyed by the war and strengthen the provision of basic public services, including electricity.

Current spending needs to be redirected to health, reduce spending on wages and pensions, which account for 65% of total public spending, eliminate rampant corruption, a weak regulatory framework, and a bad business environment, as it continues to impede private sector development, job creation, and increased flows. Foreign direct investment, and the companies ’problem of obtaining credit, access to electricity and trade, and protecting their rights in a framework that encourages them to turn the wheel of investment.

Economic Studies Unit, Rawabet
Center for Research and Strategic Studies  LINK

KTFA Members "Sunday News" 2-7-2021

KTFA:

Samson:  Digital enrollment service launched

7th February, 2021

The Central Bank of Iraq announces the launch of the digital enrollment service, which is the first of its kind in Iraq and the region.

Digital enrollment is an integrated digital financial system that enhances financial independence and liberation from traditional financial systems, as it works to transform Iraq into a country less dependent on cash, which enables the state to fight corruption, evasion and bureaucracy in financial dealings within banks operating in Iraq.

This service is considered a modern and different trend due to its many advantages, including conducting financial operations in a modern digital electronic form, which reduces time and geographical distances and raises the traditional barriers in the Iraqi banking sector.

The Central Bank of Iraq,
7 February 2021    LINK

Samson:  Parliamentary finance: imposing biometric modernization will eliminate space personnel and save 20 trillion

14:35 - 07/02/2021

On Sunday, the Parliamentary Finance Committee announced the imposition of a budgetary measure that obliges the government to implement it and will save 20 trillion dinars from space and double-salary employees.

The reporter of the Finance Committee, Ahmed Al-Saffar, said to / the information / that "the Finance Committee confirmed the paragraph of activating the biometric update in the budget for the year 2021."

He added that "the modernization will eliminate the space employees and double-wages in state departments," noting that "the matter will save at least 20 trillion dinars, along with some things that have been stopped."

He explained that "among other things, suspending the ministries' petition, which was a door to corruption."  LINK

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Samson:  Countries' possession of gold is rising and Iraq maintains its ranking in the world

7th February, 2021

The World Gold Council announced, on Sunday, that the central banks' possession of gold increased, while Iraq maintained its world ranking at 38th

In its latest schedule for the month of February of 2021, which was seen by "Al-Eqtisad News", the council said, "Central banks' possession of gold rose by 6 tons to reach 35.197 thousand tons compared to the previous month

He added that the main buyers of gold during this month are Turkey, India, Kazakhstan and Uzbekistan, while the main sellers of gold are Mongolia and Malta

The council noted that "Iraq still maintains the 38th position in the world and the fifth in the Arab world with the largest gold reserves at 96.3 tons, which represents 10.1% of the rest of the other reserves

It is noteworthy that the World Gold Council, which is based in the United Kingdom, has extensive experience and deep knowledge of the factors causing market change, and its members consist of the largest and most advanced gold mining companies in the world   LINK

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Samson:  The Ministry of Planning sets the date for completing the employee bank project to reveal the double payroll and the fake

7th February, 2021

The Ministry of Planning has set a date for next June to complete the (Employees Bank) project, in a step to limit their numbers and reveal the delusional ones, as part of government reform measures
 
Yesterday, the Parliamentary Finance Committee, during its vote on the paragraphs of the 2021 budget, obligated the Council of Ministers to work with the "biometric system" for employees to detect "aliens" in all ministries and government institutions

The spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, said in an interview with Al-Sabah newspaper, which was seen by Al-Iqtisad News, that "the ministry continues its work to complete the employee bank project, which is expected to be completed next June in cooperation with other ministries and government institutions

The Ministry of Planning has formed mobile teams of employees of the Central Bureau of Statistics to visit government institutions to obtain employee data, as more than two million employees have been registered so far in the database and Al-Hindawi said, "The importance of this file lies in building a detailed database of employees, deciphering any existing duplication and facilitating the process of salary disbursement through an electronic platform, knowledge of specializations, duration of service, academic achievement and other data

Al-Hindawi described the state institutions’ response to this project in good after issuing directives from the Council of Ministers in this regard and the formation of a supreme committee headed by the Minister of Planning, and there is interaction and cooperation to complete the details of the database for the employees of state institutions

The Minister of Finance, Ali Allawi, revealed in a press statement that "more than 10 percent of the employees are satellite and double-paid," as their number in government institutions ranges between 200 to 300 thousand, and that "40 percent of employees' salaries are localized and the percentage is increasing

In the same context, a member of the Parliamentary Finance Committee, Dr. Majed Al-Waeli, expected that "the functional data bank project will eliminate the phenomenon of aliens and double salaries in state institutions.   LINK

Samson:  Oil Minister: $ 80 a barrel is the right price for Iraq

7th February, 2021

On Sunday, Oil Minister Ihsan Abdul-Jabbar considered that crude prices in global markets would reach 80 dollars per barrel, suitable for Iraq to meet the expenditures of the federal budget for the year 2021, but at the same time he ruled out that prices exceeded the threshold of 65 dollars during the current year

Abdul-Jabbar said in a press interview, "Iraq will export in 2021 a quantity of crude oil of one billion and 100 million barrels, according to market data, and that the budget needs 140 trillion dinars."  He added that "the price of $ 80 a barrel is the right price, as Iraq will be able to pay the budget dues," adding that "the price of $ 80 is impossible to reach during the current year

Iraq is under great pressure under the weight of the worst economic crisis it has witnessed since 2003 until now due to the low oil prices and the outbreak of the Corona virus.  He explained that it is expected that "the  price of one barrel of crude in the first quarter of this year will be $60, and in the third quarter, if the vaccine spreads, the price per barrel will be between 62 to 63 dollars

He pointed out that "there are distortions in the economy, among which is that the price of a barrel is impossible to exceed 65 dollars this year, and the second is that part of this oil allocated to us as a market share is exported due to the difference in costs and exports, perhaps 20 dollars for a difference from Basra's oil." These challenges make the financial return on revenues not be as high as possible.

LINK

Ryan1216:  Good afternoon all. Let's hope Iraq passes the 2021 budget this upcoming Saturday so we all can hopefully get off the never ending Dinar coaster

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Samson:  To settle the region’s share, continuous meetings during the next 48 hours

6th February, 2021

A source in the Parliamentary Finance Committee revealed, on Saturday, that continuous meetings will be held within the next 48 hours to resolve disputes regarding the Kurdistan Region’s share in the federal financial budget for the current year.

The source told Shafaq News, "The Finance Committee will hold continuous meetings with the heads of political blocs within the next 48 hours to settle the region's share in the budget, including oil revenues, border crossings and airports in Kurdistan." He added that the meetings will also decide the number of barrels of oil that the region must deliver to the federal government, whether it is 250 or 450 thousand barrels per day. 

The governments of Baghdad and Erbil reached an agreement to hand over the region's revenues of 250 thousand barrels per day and half of the other revenues from the border crossings and others, in exchange for a share estimated at 12.6 percent of the budget in addition to the payment of the salaries of the Peshmerga forces.

The agreement was included in the draft budget approved by the Iraqi government and sent to parliament for approval, except for the Shiite political blocs that raised the ceiling of their demands and demanded that the region hand over the revenues of 500 thousand barrels per day of oil to the federal government, in exchange for the region receiving its full share of the budget without any shortage.  LINK

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Samson:  The General Director of Investment in the Ministry of Electricity was arrested on charges of corruption

7th February, 2021

An informed source said, on Sunday, that a senior official in the Ministry of Electricity had been arrested on charges of corruption.

The source informed Shafaq News Agency; The Anti-Corruption Committee implemented an arrest warrant against the accused Raad Qasim Muhammad, Director General of Investment in the Ministry of Electricity, in accordance with Article 310 of the Iraqi Penal Code.

It is worth noting that the Anti-Corruption Committee was formed by order of a diwani from Prime Minister Mustafa Al-Kazemi, and has arrested several officials on charges of corruption.  LINK

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Samson:  Shabandar: What is going on in Iraq are power struggles and the ascendancy of families' power

7th February, 2021

On Sunday, writer Ghalib and politician Ghalib Shabandar considered the current conflicts to be struggles of influence and the ascendancy of families' power in the midst of a complete absence of state authority.

Shabandar said to / the information / that "the conflicts that are taking place between the political blocs and the current parties are free from any honest political competition." He added, "All conflicts are devoid of vision and do not go beyond that of power struggles and impose the power of the strongest, using all the hideous methods that enable them to extend the widest area of ​​influence."

He explained that "the authority of the state is completely absent and has occupied its place with the authority of families from the political blocs," noting that "most of the political figures who have had their hands contaminated with corruption have children and families who manage their own mafias."

LINK

MilitiaMan and KTFA Members "Get Ready For Digital Currency" 2-6-2021

KTFA:

Don961:  A map that creates an economic coup in Iraq and turns it from a station for selling oil to a production revolution, with the contribution of 4 continents around the world

2021-02-05 Yes Iraq: Baghdad

The economist Ahmed Al-Salami mentioned a “map” and described it as making an economic difference in Iraq, as a first stage and within a short, medium and long-term time that makes our country make a quantum leap from a fuel station to selling oil, unemployment, underdevelopment, corruption, poverty, stagnation, immigration and violence to a comprehensive productive economic revolution.

 He stated that “my wish is for the prime minister to undertake an economic trip around the world for direct contracting without any intermediary and direct and personal supervision with advisors in an economic contract revolutionwith an elite of international companies' giants in exchange for a pledge to provide protection for rights and the security of the regions of Iraq.

He noted that the tour includes continents:

Asia:

# China:

Contracting with companies to supply industrial production lines that include light industries - food - clothing - manufacturing - cleaning - cosmetics - medicine - furniture - cigarettes - and cement factories - contracting with trademarks of companies in the real estate and transportation sector.

# Japan:

Contracting on assembly lines for Toyota Nissan Mitsubishi cars and manufacturing parts thereof - associated gas power stations and refinery waste - Al-Faw Grand Port - a new airport in Baghdad - Roads - Contracting with trademarks

-#South Korea :

Contracting with Samsung Group of companies to open branches for light and technical industries - Hyundai and Kia to assemble cars - vertical and horizontal residential real estate construction companies. Roads, railways, Baghdad subways, and suspension train - agriculture - contracting with trademarks

India: The experience of farming.

Second: Australia:

Contracting to establish large investment farms for cultivation on water wells and rivers, and to raise livestock, main livestock, for the purpose of milk, meat, leather and wool. And mechanization.

Contracting brands

# Third: Europe:

- #Germany :

Contracting with Siemens electricity, communication systems, electronic control systems, electrical tools, as well as in medical equipment, in the field of construction and building, in the business services sector, household appliances, air conditioners, mobile phones, home alarms, and laptops.

Volkswagen Group

Contracting brands

#France :

A contract with Total to establish the largest oil fields investment.

Establishing a new airline with Airbus.

Cruise yachts, transport and cargo ships

Contracting brands

#Russia :

Gazprom - a comprehensive investment for the natural gas industry and accompanying to make Iraq enter the world of gas industry and export to the world

Fourth # North America:

#United State :

General Matters - Ford - ExxonMobil Oil - and Shell - for contracting, each according to its competence.

Visits to the European Community - Canada - Brazil - Turkey - Iran - South Africa - Thailand - Malaysia - Singapore

To copy trademark trials and contracts -

# Note, this is funded from percentages on oil sold for the benefit of companies and shares in production and management for specific, medium and long-term periods of time and payment in terms of

A stock exchange is establishedfor all the above companies and others to participate in shares of citizens as investors and speculators for the Iraqi and foreign private sector and citizens to participate in private shares, and the government's share in the stock exchange is privatized for the benefit of sober companies and individuals at least 51% in return for taxes.

There are great consequences, as well as financial, political and security difficulties, corruption and war.

It is better to wade in the midst of the sea than on a remote island with a boat.   link

MilitiaMan:    Get ready for digital currency.. Digital currency will need to be able to communicate on a level playing field. It is said they have this next week to be interconnected with the BUNA system that the AMF has launched for clearing and settlements. They say the TENTH!!! ~ MM

China has made a move to be in line with a Joint Venture with SWIFT, a Global Clearing System and mention digital currency... ~ MM

Recall the Digital Dinar? Digital Dollar? Now Digital Yuan, now? Even imo a Digital Dong? Is there more? Sure, imo.. ~ MM

Stock exchanges that need to be on the same page and able to clear trades with not only stock but one another's respective currencies, as they need to communicate. The timing of all this is not by a coincidence in my opinion it is by design. The platforms are in place and now will apparently start to connect in real international time and pricing. BUNA imo requires article 8 compliance with the IMF, Just ask "Petra and the Basra Boyz"!! lol. imo... ~ MM

The can kicking of the 2021 Budget is by design.. imo.. It appears they have had to massage the timing to fit in line with many things and the hurry up and wait from parliament looks to be to me that they were in a hurry, yet, now they have to sit tight for the moment with having completed all but the best for last... imo.. ~ MM

 "SHANGHAI, Feb 4 (Reuters) - SWIFT, the global system for financial messaging and cross-border payments, has set up a joint venture with the Chinese central bank's digital currency research institute and clearing centre, a move some see as a sign that China wants to explore global use of its planned digital yuan."

https://www.nasdaq.com/articles/swift-sets-up-jv-with-chinas-central-bank-2021-02-04-0

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MilitiaMan:  Then there is this. Note that Viet Nam is labeled as a currency manipulator.. They have had a polite reminder recently from the US... imo ~ MM 

“Việt Nam has great demand for energy, infrastructure and the digital economy, areas in which many US companies are strong.”

LINK

The International Islamic Bank announces its joining of the Bani Arab Payments platform

2nd February, 2021

The International Islamic Bank announced that it has joined the Bani Arab Payments platform, which is supervised by the Arab Monetary Fund

The bank said, on its Facebook page, seen by "Al-Eqtisad News", "The Islamic International Bank announces the completion of all operational requirements for the connection with the Bunaa Arab Payments platform, affiliated to the Regional Corporation for Arab Payments Clearing and Settlement owned by the Arab Monetary Fund

The bank added, "Bona is a platform that provides real-time clearing and settlement services for cross-border financial transfers between Arab countries and in Arab and international currencies

He noted that the most important characteristic of this platform is the competitive costs in exchange for the financial transfer, which will contribute to shortening the time and effort of the customer, noting that some of the features of the platform include financial transfer at reduced costs, and the transfer in Arab currencies such as the UAE dirham, Egyptian pound, Kuwaiti dinar, Jordanian dinar and Saudi riyal and international ones, including the US dollar and the euro. 

The bank confirmed that the service will be launched on the tenth of this month

On January 4, 2021, the Central Bank announced the actual launch of the adoption of the Iraqi dinar in the Buna platform for inter-Arab payments

The central bank said, "The platform works to provide real-time clearing and settlement services for cross-border financial transfers between Arab countries and in Arab and international currencies," noting that "the first movement has been implemented through banks between the UAE and the Arab Republic of Egypt, in the currency of the UAE dirham

He added, "The Central Bank of Iraq had previously signed an agreement with a number of local banks and completed the technical requirements to participate in the project in coordination with the Arab Monetary Fund," stressing that "work is underway to adopt the Iraqi dinar in the system for the next stage

He pointed out that "banks will be able to participate in Arab countries in sending and receiving payments between them in a safe and reliable manner, while this platform will help reduce recourse to international centers from correspondent banks in clearing and settling Arab payments, which will contribute to reducing the time and costs associated with banks and their customers

Samson:  Parliamentary Finance: We have reached the final stages before voting on the budget

02/06/2021 13:49:18

 The Parliamentary Finance Committee confirmed that it had reached the final stages before voting on the budget.

The committee stated, "We have reached the final stages before the vote on the 2021 budget," indicating that it "has completed more than 90 percent of its work in the budget."   LINK

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Samson:  Parliamentary Finance: Voting on the budget in the absence of the Kurds is very likely

16:16 - 02/06/2021

A member of the Parliamentary Finance Committee and a deputy for the Kurdistan Islamic Union, Jamal Cougar, confirmed, Saturday, that there is great difficulty in reaching an agreement regarding fixing the region's share in the budget.

"Going towards voting in the absence of the Kurdish blocs is very possible, in the absence of an agreement, and the delegations that visit Baghdad have done nothing so far," Cougar told the agency.

He added that "the Finance Committee stipulated handing over the entire region of its oil to the federal government, and that the management of the oil file in the region be under the supervision of Baghdad and the SOMO company, and this was rejected by the region’s delegation, so the negotiations became complicated.

He pointed out that "the Kurdish delegation will visit Baghdad again, hoping to reach a final and intermediate agreement that satisfies the two parties, but in light of the political blocs' insistence on receiving the region's oil in full, it is difficult to get an agreement."

The delegation of the Kurdistan Regional Government, headed by Deputy Prime Minister Qubad Talabani, visited Baghdad recently and held a series of meetings with various political forces, but no agreement has been reached so far, regarding the region's share in the budget.  LINK

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Parliamentary Finance: The government imposed taxes in the budget, whose purpose we do not know

15:43 - 02/06/2021

The Parliamentary Finance Committee confirmed, on Saturday, that there are taxes and astronomical figures set by the government in the budget, with unknown objectives.

A member of the Finance Committee, Jamal Cougar, told "the information" that "the government paid a budget free of any responsibility towards the citizen and did not, in turn, prepare a budget equivalent to the volume of Iraqi imports ."

He added that "there are taxes imposed in the budget, and so far the committee does not know the purpose of imposing them," noting that "the numbers placed in them are very astronomical, and the only one affected by them is the Iraqi citizen."

Cougar explained that "the House of Representatives is currently performing its role and the role of the government together and promising the budget again after the government sends a budget that does not rise to be called the budget of a country."  LINK