KTFA Members "Tuesday News" 3-2-2021

KTFA:

Don961:  Mazhar Saleh: Proposals to Establish a Sovereign Wealth Fund

Tuesday 02 March 2021 Baghdad: Hazem Muhammad Habib

 The financial advisor to the prime minister, Mazhar Muhammad Saleh, revealed positive proposals to establish a sovereign wealth fund in which funds equivalent to the current compensation for the Kuwait war would be deposited in a manner consistent with the reform White paper .

In an interview with Al-Sabah, Saleh said: “We have positive ideas and proposals to establish an Iraqi sovereign wealth fund, in which amounts equivalent to the compensation for the Kuwait war are deposited after the payment of these compensation is completed in the coming months, and it is managed like the generational funds,” and considered it “a sovereign investment resource for Iraq.” And in line with the white paper launched by the government to strengthen and reform the structure of the Iraqi economy.

Saleh explained, "There is nothing left of the Kuwait war compensation, but an amount that may be less than 2.5 billion dollars out of 52 billion dollars until the moment, as 3% of the proceeds are still deducted from every barrel of Iraqi crude oil that is exported, through a mechanism and a bank account that the bank takes over."

The Federal Reserve in New York, according to a subsequent Security Council Resolution No. 1483 in May 2003, "and indicated that" the deductions are currently paid through the United Nations Compensation Fund "UNCC", expecting that "all the remaining compensation will end within a year or a little more," According to the development of oil prices and the proceeds of a barrel of Iraqi oil Source".

It is noteworthy that the United Nations Compensation Committee was formed in 1991, the same year in which the US-led coalition removed Iraqi forces from Kuwait, and mandated the committee to pay $ 52.4 billion (46.8 billion euros) to Kuwaiti individuals, companies, government agencies and other organizations that suffered losses.

 Because of the Saddam regime's invasion of Kuwait, the compensation money comes from a tax levied on sales of Iraqi oil and its products.  LINK

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Samson:  An expert Calls On Arab Countries To Speed Up The Transition To Expanding "Digitizing The Economy"

1st March, 2021

The economic expert, Shukria Marrakchi, confirmed that in light of the growing role of the digital economy at the global level, the Egyptian and Arab economy in general has become a real need during the current period to move from strategy to expanding the digitization of the economy in order to maximize the return from the digital economy and reduce its potential risks.

She pointed out that “the Arab world possesses all the components it needs to move to the digital future, but despite this, the entrepreneurship of small and medium enterprises is still much less than the potential potential, at a rate not exceeding 8 percent of the potential, which is less than 10 Times from the United States of America ”.

Marrakchi said that global estimates say that during the next ten years, 70% of global gross product will be the result of digital economy activities, stressing that “future growth will depend to a large extent on digitization, as the outbreak of the Corona pandemic has had positive effects on the culture of using digital tools in The daily life of individuals, societies and businesses, especially since the pandemic has been accompanied by an increase in the use of cell phones by 50 percent, and an increase in the use of data via the Internet by about 40 percent.

The economist stressed the inevitability of a common Arab vision for the digital economy that moves from the theoretical stage and academic studies to the implementation stage on the ground and places Arabs on the global map of the digital economy.

She indicated the availability of: “The capabilities, the tremendous resources and the geographical location, and most importantly of all, a generation that aspires for the better, is passionate about technology and has the ingredients for success in software, electronics and modern technologies. The Arab millennial generation has an instinct to know about technology, who, with its peers in the world, will represent about 75% of the workforce by 2025, and we do not want this generation to be a consumer, but rather a producer, innovator, innovator and pioneer in the fields of the digital economy and to take its natural place in the renaissance of its Arab societies and nation. 

"The solution is for the Arab countries to develop an integrated vision for the future project and a new joint cooperation agenda beyond the traditional integrated path, so that it includes joint digital projects in vital sectors, leading to stimulating the economy and creating job opportunities for young people, which is what the digital economy platform secures from by diversifying the economy, reducing the cost of trade, increasing trade in goods, increasing services and thus creating new job opportunities.  LINK

Samson:  Iraqi-Chinese talks to implement the oil-for-reconstruction agreement

1st March, 2021

Chinese embassy in Baghdad revealed, on Monday, Iraqi-Chinese discussions on how to implement the oil-for-reconstruction agreement.

The Chinese embassy said, in a statement that Mawazine News received a copy of, that “On March 1, Chinese Ambassador Zhang Tao met with Deputy Prime Minister and Minister of Finance Ali Allawi, where the two sides exchanged views on how to implement the Chinese-Iraqi agreement on oil in exchange for Ages.”   LINK

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Samson:  An arrest warrant was issued against a former official in Al-Amara for embezzling a large sum

03/2/2021 12:15:01

 The Investigation Court for Integrity Cases in Maysan issued an arrest warrant against the former director of Amara Entertainment City in accordance with the provisions of Article 316 of the Penal Code.

The Media Center of the Supreme Judicial Council stated that "the accused embezzled a large sum of the collection sums during his tenure."

On October 4, 2014, Maysan Governorate witnessed the inauguration of the Entertainment City in front of the Messianic families, after most of the games and infrastructure works in the city were completed on a plot of 100 acres at a cost of 26 billion dinars and includes more than 20 different games for adults and children.

The project included manufacturing, equipping and erecting recreational games by the Italian company Visa, in addition to infrastructure projects such as water, sewage, streets, lighting and sidewalks that were implemented by a local company.   LINK

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Samson:  Lebanon’s currency is losing 85% of its value

16:39 - 02/03/2021

The Lebanese currency plunged, today, Tuesday, towards a level of ten thousand pounds against the dollar, an unprecedented low level for the currency that was damaged by a financial collapse that led to widespread poverty and unrest.

The collapse, which reached a level not witnessed before, resulted in the loss of the Lebanese currency, about 85% of its value, in a country that relies heavily on imports. The prices of many consumer goods such as diapers and pills have tripled. Politicians have failed to agree on a rescue plan since the crisis erupted in 2019 as dollar flows stopped and protests spread across the country.

Two currency dealers in the unofficial market, which became the main source of liquidity after banks stopped exchanging dollars, said that the price of the dollar reached ten thousand pounds today. Three others said the US currency recorded 9,900 pounds. This means that the minimum monthly wage in Lebanon is equivalent to about $ 68.

The currency last hit low levels near 10,000 pounds in the summer of 2020, sparking weeks of protests before a massive explosion in Beirut's port in August destroyed large areas of the capital.  LINK

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Samson:  A Russian expert identifies a "simple step" to give up the dollar

14:30 - 02/03/2021

An economist believed that the Russian government could achieve its goal of moving away from the dollar through one simple step, which is to drop the tax that it currently imposes on its citizens in exchange for buying gold.

Economics professor Valentin Katasonov said that Russian citizens would dispense with the dollar as a savings tool in favor of gold if the 20% value-added tax imposed on the precious metal was abolished.

The economist pointed out that the selling of the US currency would inevitably lead to a decrease in its exchange rate. But the expert ruled out that the Russian Finance Ministry would cancel the value-added tax on gold, because this would lose the Russian budget some revenue.

Russia has been working for years to reduce its dependence on the dollar due to the sanctions policy pursued by Moscow, and in this context, Moscow has been reducing the reserves of the US currency in favor of gold and other currencies such as the euro.   LINK

Monday Night KTFA CC: "In the Near Proximal Future" 3-1-2021

KTFA

Monday Night KTFA CC with Frank26 and Team Petra and MilitiaMan

Frank26:  3-1-21... IN THE NEAR PROXIMAL FUTURE

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

PLAYBACK IS: 605.313.5163 PIN: 156996#

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

RED=HIGH ALERT!!!!

The first half of CC is members and products: The second half of CC is Frank, Intel and Teams

https://www.youtube.com/watch?v=jfl_6Q1yPFU

MilitiaMan Sunday PM: "We All Know a New System is in Play" 2-28-2021

KTFA:

Samson:  Zafer Al-Ani: Parliament Will Continue Its Sessions Until The Budget Is Approved

28th February, 2021

Member of Parliament Dhafer Al-Ani confirmed that Parliament will continue its sessions starting tomorrow, the first Monday of March, until the budget law is approved.

Al-Ani said in a press statement, which was followed by Al-Independent today, Sunday, that the budget has reached its final stages, leaving nothing but the announcement of the agreement with the Kurdistan region regarding the percentage determined for it in the budget and other matters that will be completed within the next few days.

Al-Ani added that: Approval of the budget will be attended by everyone at the end of this week.

The House of Representatives is scheduled to begin its sessions on Monday.  LINK

 MilitiaMan:  Well well well. They are continuing the session tomorrow. The 1st of March. They'll be at it until budget law is approved, so they say. Leaving nothing but an announcement.

Well they'll need to announce a rate with that now wouldn't they? lol

Notice they push it out again to the end of this week? That tells me they are either so utterly inept at this stage for not having it completed yet, or there is a bigger picture in play.

It is fairly obvious that they are not holding things up at a devalued rate of 1460 IQD / 1USD or they would have already shown the budget and been done with it by now. They clearly know that the devaluation hurts the citizens of Iraq. They continue at this rate they will definitely have consequences to pay for. That could get ugly and quickly. 

My view is there has been evidence of digitization for many things on a much broader scale than we have ever seen before.

Whether it is digital taxation, fees, tariffs, customs, clearing and settlements for payments, salaries, Digital Platforms for Currencies both foreign and international levels, or even other items such as e-governments, etc., are all in play globally now all while with having one crisis after another.

From oil shocks to a "Pandemic". Regardless the systems need to be able to communicate not only for economic reasons but for health and security reasons.

Then tie in that the USA Bond markets are under heavy pressure. Warren Buffet seems to have a mention on that matter today.

There was even a so called "operational error" with the US Fed on the 24th of this month in respect to wiring money, ACH, EFTs, etc, etc.,. When Warren Buffet talks people listen.

For Iraq, the Prime Minister has a few words on the exchange rate. We all know that a new system is at play. If there is fire in the theatre, the exits will be getting filled quickly and possibly disorderly. That is something the FED will not want.

So, the "operational error" may very well have been and operational move be sure and on purpose to fix an error, as in the bond markets needing the fire department and it is at an emergency level.

Buffet just yelled fire. I'll bet on purpose to push those in the know to get a move on with the rate change and let the vote get done.

A new exchange rate can fix many ailments.. imo Bond markets included... imo !~ MM

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'From the Parliamentary Finance Committee because they are working against the interest of the vast majority of the people and their negative stance on setting the US dollar exchange rate of 1450, which constituted a humanitarian catastrophe for the Iraqi people, i.e. 99 percent of the people are affected by the decision of the executive and legislative authority.  In the event that the demands of the Iraqi people are not met, the vast majority of the people will boycott the upcoming parliamentary elections." 

https://www.ktfalways.com/forum/frank26-daily-

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"O my people, you must cooperate with me to save our country from severe economic, health and security crises that impede its path ..." ~ Mustafa Al-Kadhimi

Fixed-income investors worldwide - whether pension funds, insurance companies or retirees - face a bleak future, says Berkshire Hathaway CEO

https://www.business-standard.com/article/markets/bonds-are-not-the-place-to-be-these-days-warns-warren-buffett-121022800114_1.html

"Vietnam News" Posted by Samson Friday PM 2-26-2021

KTFA:

Samson:  Việt Nam to take the lead in economic growth in Southeast Asia: Nikkei Asia

26th February, 2021

Việt Nam is predicted to record positive growth this year, especially in the context of US-China trade tensions that may persist in the coming years.

As a leading financial newspaper run by Japanese media giants Nikkei Inc, Nikkei Asia stated that: “Southeast Asia's growth leader in 2021 may well be Việt Nam,” during a recent article detailing ASEAN's GDP forecasts for the year ahead. According to Nikkei, the country recorded economic growth of 2.9 per cent last year due to its success in containing the novel coronavirus (COVID-19), in addition to robust exports of electronics and other consumer products, with the nation reportedly targeting a growth rate of 6.5 per cent this year.

Gareth Leather, senior Asia economist at Capital Economics, said that Vietnamese exports should continue to be supported by tariffs imposed by the US on Chinese goods. He noted that: "To avoid US tariffs, importers have shifted demand from China to alternative suppliers. With US-China relations likely to remain strained over the years ahead, this trend is likely to continue." The newspaper also stressed that before the pandemic, Southeast Asia achieved collective annual growth of approximately 5 per cent over the course of many years, therefore making it one of the world's best-performing regions in economic terms.

According to media reports, the region has become an attractive investment destination, with a relatively young population that drives demand and provides plenty of manufacturing labour. Although these factors can be viewed as advantages that can boost economic growth, the region’s top priority in the short term is to stamp out COVID-19.

Previously, many Japanese and international newspapers made positive forecasts about Việt Nam's economic prospects. In the article entitled Overcoming the COVID-19 pandemic, Việt Nam's economy grows favorably, Dr. Bùi Mạnh Hùng attributed Việt Nam’s successful control of the COVID-19 pandemic to three main reasons: absolute trust in the Vietnamese Government’s direction, strict compliance with the Government instructions, and people’s unity and awareness of the dangers of the pandemic, and that has attracted great attention of Japanese readers.

The article said that the COVID-19 pandemic is causing terrible impacts on the socio-economic development of countries around the world and many countries have suffered negative economic growth. But, Việt Nam's economy in 2020 achieved a surprising growth of 2.91 per cent and is forecast to continue to grow at a high level in 2021, becoming a bright spot of the world economy, according to an article published in Japan’s journal Security Anpo, January edition.

The author quoted Prime Minister Nguyễn Xuân Phúc in emphasising Việt Nam's economic growth of 2020 with a stable macro economy, low-level inflation, positive growth and improved economic balance. Although investment and trade shrank due to the pandemic, the economic growth was still at a high level compared to other countries in the region and around the world.

With its success in pandemic response, Việt Nam has worked out effective policies and measures to restore the economy, according to Security Anpo. The article highlighted Việt Nam's success in signing international economic agreements.

On November 15, 2020, ASEAN, including Việt Nam and five partner countries Japan, China, India, Australia, and New Zealand signed the Regional Comprehensive Economic Partnership (RCEP). This agreement is expected to promote the formation of global supply chains to contribute to the economic development of member countries including Việt Nam. Previously, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Free Trade Agreement with the EU (EVFTA) was also signed, demonstrating Việt Nam's determination in implementing its economic commitments.

The author said Việt Nam is attracting great attention from foreign investors. Signing many international agreements, Việt Nam commits itself to create favourable conditions for foreign investors. Many investors from the US, Japan, and South Korea want to move their businesses to the Vietnamese market or plan to start a business in Việt Nam, the article said.

The author said that there were many forecasts about Việt Nam's economic growth in 2021. A reputable UK bank forecasted that by 2021, the Vietnamese economy would likely reach 7.8 per cent growth, while Asian Development Bank (ADB) forecasted 6.3 per cent. Many other experts and prestigious economic organisations were also optimistic about Việt Nam's economic growth in the coming years.   LINK

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Samson:  Việt Nam, West Virginia bolster bilateral co-operation

26th February, 2021
Representatives from the Vietnamese Ministry of Industry and Trade (MoIT) and the US state of West Virginia signed a memorandum of understanding (MoU) on Thursday to accelerate co-operation in the economy, trade, and energy.

The two sides aim to form a comprehensive co-operation framework to facilitate bilateral trade and investment ties in industry and energy while increasing the exchange of information on business opportunities and supporting co-operation projects and businesses of both sides.

Addressing the signing ceremony, Minister of Industry and Trade Trần Tuấn Anh highlighted the special Việt Nam-US partnership while lauding the role and effort of Congresswoman Carol Miller and Governor Jim Justice of West Virginia in promoting the US’s economic and trade ties with Việt Nam in the US Congress and government. "This is a suitable time for the two sides to boost the partnership to speed up economic recovery and cope with the COVID-19 pandemic," Anh said, stressing that the US is an important and long-term partner of Việt Nam in energy. He described it as an important foundation for strengthening ties in the long term.

According to Vietnamese Ambassador to the US Hà Kim Ngọc, Việt Nam-US relations have seen strong progress in all fields since the comprehensive partnership was established in 2013. For her part, Miller expressed her hope to boost bilateral co-operation in industry and trade, especially energy.

Việt Nam and the US have seen growth in bilateral trade and investment relations over the years. Two-way trade exceeded US$90 billion for the first time last year and the figure is expected to reach $100 billion this year. The two nations have designed an action plan featuring a range of solutions, towards a harmonious and sustainable trade relationship.  LINKLINK

Samson:  Vietnam transitions from successful pandemic containment to strong economic recovery: AMRO

22nd February, 2021

Việt Nam’s gross domestic product (GDP) is expected to rebound to 7 per cent in 2021, riding on a recovery in external demand, a resilient domestic economy and increased production capacity, according to the preliminary assessment by the ASEAN+3 Macroeconomic Research Office (AMRO) after its virtual annual consultation with the Vietnamese authorities in the last two months.

Amid heightened uncertainty, continued policy support is essential to bolster the nascent economic recovery and facilitate the transition to the post-pandemic “new normal”.  “Việt Nam’s economic growth slowed to 2.9 per cent in 2020 due to the pandemic but is expected to rise to 7 per cent in 2021,” said AMRO’s lead specialist Dr. Seung Hyun Luke Hong.  “The rebound is expected to be underpinned by a recovery in external demand, a resilient domestic economy, capital inflows, and increased production capacity,” Hong said.

After a disrupted second quarter, Việt Nam’s economy started to pick up in the third quarter of 2020 thanks to the rebound in manufacturing activity, which was boosted by robust export growth. Meanwhile, domestic consumption also bounced back following the relaxation of mobility restrictions, along with the recovery benefited from acceleration in the disbursement of public investment.

However, the AMRO team also pointed out some risks and vulnerabilities for the rebound in 2021. They include uneven recovery of the global economy which may jeopardise the recovery in external demand, susceptible domestic demand to the risk of further waves of COVID-19 infection, impairment of the balance sheets of the business sector and the hit on unemployment and labour market.

On the financial front, there is a risk that a deterioration of the banking system’s asset quality will erode its relatively thin capital buffers. Vulnerabilities may also emerge from the sizeable consumer loan segment and from a sharp rise in the holdings of corporate bonds by banks. The team recommended the Vietnamese Government provide greater fiscal support through both revenue and expenditure measures to bolster the nascent economic recovery if the growth momentum were to weaken.

Targeted support to micro, small and medium enterprises and low-income households also needs to continue and be regularly reviewed for its relevance and effectiveness, it said.

Meanwhile, given the benign inflation outlook, it is essential that monetary policy remains supportive of economic recovery, keeping financing costs affordable for households and businesses. On the external front, with high uncertainties in the post-pandemic global recovery, the authorities should strengthen the external buffer through greater flexibility in the exchange rate.

Lastly, the team said it is essential to ensure continued support for long-term development issues, such as infrastructure development, human capital development, social safety net, and particularly public health, while carefully managing risks to long-term fiscal sustainability.  LINK

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Việt Nam aims for GDP per capita of $5,000 by 2025, developed country status by 2045: 13th Party Congress's Resolution

26th February, 2021

The Communist Party is aiming for Việt Nam to reach GDP per capita of $5,000 by 2025 and to be a developed country by 2045. The goals are part of the Resolution of the 13th National Party Congress held from January 25 to February 1, the entirety of which has just been released by the Office of the Party Central Committee.

The Resolution noted the highlight of the 12th tenure was the successful handling of the COVID-19 pandemic resulting in significant economic achievements – including stable macroeconomics, controlled inflation and high GDP growth, while people’s living standards were improved. The fight against corruption, loss and waste was intensified, while the socio-political situation remained stable, foreign relations deepened and Việt Nam’s profile on the international stage grew.

However, numerous shortcomings – including slow modernisation and industrialisation, shifting in the growth model, limited competitiveness and quality and productivity of the economy, inadequate adaptation to climate change and environment protection demands, drawbacks in Party building and rectification, that science and technology has not been the driving engine of socio-economic growth and the lives of certain groups of people remain difficult – of the 12th tenure have been identified in the Resolution.

The achievements of 35 years of implementation of đổi mới (Reform), 30 years of implementing the 1991 Party Platform and in the 10 years of implementing the 2011 Revised Party Platform have proved that the country’s path towards socialism is consistent with Việt Nam’s practical situation and the times' development trends, with the Party’s righteous leadership the leading factor in Việt Nam’s revolutionary victories, the Resolution reads. Amid rapidly shifting and complex developments in the global scene, the Party Platform continues to serve as the ideological flag to gather the collective strength of united peoples for the goal of a "prosperous-people, strong-nation, democratic, equitable, and civilised" Việt Nam.

Development vision and orientations

In the coming years, the challenges and opportunities of a complicated world demand the entire Party and Vietnamese people to “unite” and continue to have major changes in mindset and make correct and timely forecasts of the situation to prepare and deal with any circumstance, to “bring the country forward on the path of rapid, sustainable development” and the attainment of many orientations, goals, and tasks.

The Resolution lists major guiding orientations of the years forward, including “persistent and innovative” implementation of Marxist-Leninism and Hồ Chí Minh ideology, persistent pursuit of socialism and independence and upholding national interests based on the principles of the United Nations’ Charter and international law and the spirit of equal and win-win co-operation, with national defence and security in mind.

It also aims to enhance patriotism, the spirit of resilience, national unity and people’s aspirations to develop a prosperous and happy nation, promoting socialist democracy, enhancing the quality of human resources and promoting innovation and science and technology – especially the achievements of the Fourth Industrial Revolution – in service of the country’s sustainable and rapid development. In addition, Party building and governance are goals, working towards a streamlined and effective Party system with quality cadres and civil servants.

The “general objectives” are identified as improving the Party’s leadership and ruling capacity; building a pure, strong and comprehensive Party and political system; consolidating and raising people’s confidence in the Party, the State and the socialist regime; fomenting aspirations to develop a prosperous and happy country; promoting the will and strength of national solidarity; promoting comprehensive and synchronous đổi mới (reforms), industrialisation, and modernisation; building and firmly defending the Fatherland, maintaining a peaceful and stable environment; and striving to become a developed country with socialist orientations by the middle of the 21st century.

The “particular objectives” are set on Việt Nam becoming a developed nation with a modern industrial base and leaving the ranks of lower-middle-income countries by 2025 - the year marking the 50th anniversary of the liberation of the south and national reunification. By 2030, when the Party celebrates its 100th founding anniversary, Việt Nam is hoped to become a developing country with a modern industrial base and upper-middle incomes. By 2045, the 100th anniversary of the establishment of the Democratic Republic of Việt Nam, now the Socialist Republic of Việt Nam, Việt Nam is hoped to become a developed, industrialised nation with high income.

In 2021-25, the Resolution sets a target for average GDP growth of 6.5-7 per cent, GDP per capita by 2025 reaching $4,700-5,000, the contributions of total factor productivity (TFP) in economic growth reaching 45 per cent, the labour productivity increase hitting 6.5 per cent a year, urbanisation reaching 45 per cent, the ratio of processing and manufacturing industries in the GDP exceeding 25 per cent, and the digital economy accounting for 20 per cent of the country’s GDP.

In this time frame, the Resolution aims for agricultural labour ratio staying at 25 per cent, the ratio of trained labour reaching 70 per cent, urban unemployment kept at below 4 per cent, the rate of multidimensional poverty maintaining a decrease of 1-1.5 per cent year-on-year, aiming for 10 doctors and 30 hospital beds for every 10,000 people, striving towards 95 per cent of the Vietnamese population being covered under the State’s health insurance, life expectancy reaching 74.5 years, and the ratio of communes obtaining new rural standards reaching at least 80 per cent, including 10 per cent meeting the requirements of exemplary new rural standards.

In terms of environment, by 2025, the goals are to have 95-100 per cent of the urban population and 93-95 per cent of rural population having access to clean and hygienic water, 90 per cent of urban waste properly collected and treated, 92 per cent of active industrial-processing zones outfitted with proper wastewater treatment facilities; 100 per cent of all businesses polluting the environment punished; and upholding the national forest coverage at 42 per cent.

The 13th tenure has "six central tasks", with the first being Party building, building rules-based socialist State, with effective, corruption-free governance. The second task is controlling the COVID-19 pandemic, ensuring COVID-19 vaccination coverage, while engaging in economic recovery, pursuing the transformation of growth model and economic restructuring, implementing national digital transformation strategy, raising labour productivity and innovation, and third is upholding independence, improving the effectiveness of foreign affairs and international integration, building modern and elite armed forces, and maintaining peaceful and stable environment for development.

The fourth central task is inspiring patriotism among the people to develop a prosperous and happy nation, promoting the role of cultural values and the strength of Vietnamese people in nation-building and defence, with detailed policies to develop the culture of ethnic minority groups, carrying out social policies and ensuring social security for the people, raising living standards and happiness indexes of the Vietnamese people. Fifth is perfecting the legal system, institutions, and policies to promote socialist democracy. The final central task is to strictly manage, reasonably and effectively use land and natural resources, protecting the environment, and implementing adaptation measures to cope with climate change and natural disasters.

Breakthrough strategies

To achieve the goals, the Party sets three major breakthrough strategies – completing development institutions, developing human resources, and building modern infrastructure.

Regarding institutions, the Party identifies the need to improve development institutions for a socialist-oriented market economy; reforming State governance towards modernity and competitiveness; improving the legal system and institutions to create a favourable, healthy, and fair business and investment environment for all sectors of the economy where innovation can foster; mobilising, managing and using all resources – especially land, finance, public-private partnership – for development purposes; bolstering reasonable decentralisation, while enhancing inspections and keeping powers in check via the legal system.

For human resources, the Party wants a priority on high-quality human resources for leadership and management and key positions, based on “comprehensive and radical transformation of education and training quality in tandem with recruitment and incentive policies”; promoting research, transfer, application and development of science and technology, innovation; promoting the aspirations for national development, people’s sense of unity and national pride in nation-building and defence efforts.

The Resolution also states the demand for "modern and synchronous" social and economic infrastructure, with a focus on national key transport projects, climate adaptation projects, and information and communications projects to serve national digital transformation and the development of a digital economy and society.  LINKLINK

MilitiaMan and KTFA Members "Setting a New Exchange Rate" Friday 2-16-2021

KTFA:

Samson:  Setting a new exchange rate for the Iraqi dinar against the US dollar is part of the economic reform programme adopted by the @IraqiGovt, which aims to address the immediate financial crisis and placing the Iraqi economy on a sustainable path. pic.twitter.com/xOCy8ktaC0— Government of Iraq - (@IraqiGovt) February 26, 2021

MilitiaMan:  They will not be going into a market economy with a devalued currency at 1460.. The new exchange rate will need to be applied..   One that is the strongest in the region will do it.. imo.. ~ MM

Setting a new exchange rate is exactly right. It is part of the plan! Has been for years, and it is sure welcomed now.. Let the RATE WINDS BLOW.. lol ~ MM

Samson: The last pages of subjugating the state of Iraq .. subjugating the Iraqi dinar

19:43 - 02/25/2021 Books / Mazhar Al-Ghaithi

The West deals with strategy, and it is a mistake not to try to understand what they are trying to do with us by gathering information, analyzing it, and deducing future goals and plans for them so that we can confront them through tight, easy and reluctant planning that depends on loyalty to God and trust in Him and relying on His success, glory be to Him.

Here we will discuss one of the challenges that are the focus of the hour’s talk, which is changing the exchange rate, and summarize it accordingly:

1. Many observers are confused about the real reasons and motives behind the Al-Kazemi government’s feet to sell dollars at a high price to the people for reasons. Let us think out loud and say is it:

A- To withdraw cash or cash from the people, which exceeds the financial potential of the state, as it is known that the monetary properties in circulation in the market or in the possession of people are higher than what the state owns, and this in itself poses a threat to the state’s financial sovereignty and loss of its balance and threatens the failure of the financial system

B - Did the instructions come from America in this regard in order to control the people and the Shiites in particular in this way and simply to make it easier to fight them and implement all kinds of plans that they want to implement on them?

2. Is it that the families controlling the global economy want internal control over the Iraqi economy through the window of the World Bank, since it is arbitrary and now in the implementation of a loan to Iraq worth 5 billion, and perhaps the intention is to exhaust Iraq economically, and this in itself is a harbinger of affairs and has serious repercussions as:

A- Iraq owes the World Bank large sums and benefits will be imposed on it in the next stage. Iraq cannot get out of this crisis, and it will be compromised to implement their plans in Iraq.

B - Is the goal of these families is to control Iraqi money, and that will not be done for them except after distorting the reputation of Iraq abroad and reducing its economic power to the bottom through its relationship with the World Bank and keeping Iraq indebted to them for longevity, and this will affect the choices of future generations as they do not They allow Iraq to deal with other countries in financial matters, in order to develop and boost its economy.

3. This stage represents the preparation for the next stage, which is the new global economic system. If the Iraqi financial system and economy are restricted and shackled, it will be soft at the hands of governments and governments, which are controlled by the royal families and they are already infiltrated.

4. If Iraq were to regain its strength and there was a possibility to strengthen the Iraqi dinar, it would be the first in the region and it would be a good supporter of the economy and vice versa, and it would overcome the region’s currencies and economies and would be a global power, and for this there would be no interest for the region’s countries to support the Iraqi dinar and save it from the system’s hegemony Globalism.

5. America and most of the controlling forces in Iraq deliberately keep Iraq under the terms of pressure to be safe in their future in the event of revolutions, especially as they are frequently repeated.

Finally, if you collect everything that has been said and put with it what will happen in terms of a shift in the digital currency, especially in the dollar and digital dealings in buying and selling, in addition to some of what we have previously mentioned about some manipulating the financial balance between Baghdad and the region, it is certain that the clues and features of the next phase will be revealed to you.

My brothers, people of the word and fair people in Iraq and the region, the solution is simple. We know our patriotic men who defend our rights. Our salvation is by pushing them to power, and any complacency in this matter will lead to the completion of the Tamer rings, which will lead not only to the families of our word, but to the shackling and families of our children and grandchildren as well.  LINK

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MilitiaMan:  The language in this is off the charts good. It appears to be an opinion piece, however, he may have been given the nod to talk about this topic.

They are telling us they are going into the next phase and the way to do that is raise the value of the exchange rate to be the strongest in the region.

They talk about the new global economic system. We have been talking about this for months now and they are now confirming our view! Wow!!!

When they strengthen their currency they will be the first in the region!! Again that is powerful!

They are to shift to the DIGITAL CURRENCY.. We know they have a new platform for doing that specifically, not only internally but externally, as well with the BUNA.

They are definitely talk loud about what is to come. Auctions are not what they used to be.. This is looking very very bullish.. imo ~ MM

Iobey777:  Very interesting!! “ The Last Pages”? IMO, he sounds like he knows there is soon to be a finality in this matter! YES! IMO, he sees the “ solution” is very simple! Raise the value of the Iraqi dinar..give it strength and power over the world currencies! What an idea! What a piece to come out today!

MilitiaMan:  Things are good oh ya.. imo.. ~ MM

At the "B" grade .. Minister of Finance: Iraq has maintained its global credit rating

Economy | 03:37 - 26/02/2021

Baghdad - Mawazine News

On Friday, the Minister of Finance, Abdul Allawi, confirmed that Iraq internationally maintained its credit rating at B, with an emphasis on financial and economic stability, according to the international agency Standard and Poor's S&P.

The media office of the Minister of Finance stated, in a statement received by Mawazine News, that “Allawi participated in a dialogue session to discuss the economic and financial developments and the credit rating of Iraq via video conference, which included experts and specialists from the ministries of finance and oil and representatives of the Central Bank.”

The statement added, "During the dialogue, they discussed the economic and financial developments and the credit rating of Iraq and the factors that contributed to maintaining the credit rating at -???? and the emphasis on financial and economic stability, according to S&P Standard and Poor's Agency.

Allawi said, "The change in the exchange rate contributed to relieving pressure on foreign reserves and enhancing the ability of the Ministry of Finance to provide domestic financing and recovering crude oil prices at the beginning of 2021 compared to what they were in 2020.

The statement continued: "The stable outlook for the Iraqi economy was also discussed, which came to reflect the continuation of foreign currency reserves at a level that increases the external public debt service and the ability of Iraq to pay off its external debt obligations over the next (12) months."

It is worth noting that, since the outbreak of the Corona pandemic, Standard & Poor's agency S&P has taken decisions to reduce the rating from stable to negative for more than 80 cases around the world.

https://www.mawazin.net/Details.aspx?jimare=143347

Iobey777:  WHOA!Hold the phone!! Did this say CHANGED,and CONTRIBUTED, as in past tense?  Um, Yes, I think it did! IMO! And they are making these announcements on their holy day? IMO, it must be urgent! Smile!

MilitiaMan "Was the Fed Shutdown on Purpose?" Thursday PM 2-25-2021

KTFA:

MilitiaMan:  Lets see if the Digital System had a reset with the Fed yesterday has anything to say about the winds of March..

I suspect that shut down "operational error" yesterday was on purpose or was it? lol.. Way to many checks and balances at the FED to to have that sort of thing to happen middle of a work day, ioo.

Millions of transactions were held up for a period of time, about an hour real close. That equates to millions of transactions, ioo.. Apparently that has never happened before.

There are a large amount of contracts that need to be sorted by tomorrow. Interestingly, silver has some heavy pressures herself. Keep in mind silver is money, too. But also a strategic metal. So lets see what the weekend brings us.

My view is it is possible that shut down (OE) by the FED was a potential global notice given out, that change is coming. A 1 hour notice publicly announced? Kinda like, hey world we are resetting the system, rebooting if you will and when complete?

Then we resume like nothing happened, until x date which may be within a very short predetermined window with a new adjustment made.. So everyone would have had to have been given equal notice, and once the adjustment is made, a level playing field is set in motion and all are on equal footings.

Not sure if that is the case, but, a pattern was broken for the first time by the Fed (OE) going down like it did and when it did.

We know that the new Dinar is to be Digital or Electronic at some point.

We know the BUNA platform is digital for clearing International and Foriegn currencies.

 We know there was a JV with JPM and China with the "SWIFT" system in digital Yuan.

So, with the USD having a digital platform play in BUNA via JPM and then the USA SWIFT / China play, we could see the need to reset to that level of a playing field. All need to be on the same page with same protocols when trading digitally.

So did the FED test the system live in real time to see how it would work out? Then if successful, notice has been given, then game on?

Don't know for sure, but, way to many things converging at this juncture in time.. imo ~ We shall see if any of these thinking or opinion has any legs or not.

But keep in mind that there was the Financial International Monetary Authority ( FIMA ) in place to move large amounts of money back in early April 2020 and the Currency Manipulation same day!!

 The put those in place for a reason, a safety net!! ~ imo ~ MM 

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" The Central Bank of Iraq announced, at an earlier time, its readiness to implement the electronic payment system and launch the electronic dinar in a way that contributes to increasing dealing with banks and reducing the problems of cash handling."  LINK

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The Federal Reserve’s systems for transferring money and financial assets among banks, businesses and government entities went offline for a period of time on Wednesday, upending crucial parts of the country’s financial infrastructure.

The Fed said that a “Federal Reserve operational error” disrupted nearly all of the services the central bank provides as of 11:15 a.m Eastern.

“We acknowledge that payment deadlines are impacted and will communicate remediation efforts to our customers when available,” the Fed said in an announcement shortly after 2 p.m."

KTFA Members "News and Views" Thursday Afternoon 2-25-2021

KTFA:

DCDriver:  I still don't understand why the GOI has any say in the exchange rate. Is not that the sole discretion of the CBI?

DeepWoodz:  Imo...The CBI takes cues from the Prime minister and the CoM. Frank has said many times that the CBI and GOI must come together to give birth to the MR. Look at the make up of the Supreme Committee for Reform. Kadhimi, Allawi, Governor of Central Bank

Don961:  Oil announces the transfer of a copy of the oil and gas law to the Council of Ministers for approval

02/25/2021 00:11  Baghdad today - Baghdad Today,

Wednesday, the Ministry of Oil announced that it will refer the final version of the draft federal oil and gas law to the Council of Ministers for approval.

Oil Minister Ihsan Abdul-Jabbar Ismail said, in a statement received (Baghdad Today), that "the meeting of the Opinion Committee at the Ministry of Oil, which was held on Wednesday February 24, 2020, included discussion and review of the final version of the Federal Oil and Gas Law," stressing the "referral This copy is submitted to the Council of Ministers for approval after completion of its review by the concerned authorities in the ministry. "

He added, "Then the Council of Ministers will review this copy, and in turn refer it to the House of Representatives in order to legislate this law," noting "the ministry's keenness to pass a law that contributes to the development of the oil and gas industry, and the optimal investment of the national wealth in Iraq in order to support the national economy." ".  LINK  

Jerry1971:  IMO COME ON COM GET THE HCL DRAFT APPROVED ITS ONE OF THE MOST IMPORTANT TOOLS FOR THIS RV TO TRIGGER… BESIDES THE BUDGET OF COURSE WHICH IS LINGERING ON UNNECESSARILY DUE TO THE SELFISH IRAQI POLITICIANS ALWAYS LOOKING TO FILL THEIR POCKETS AND LEAVING THEY CITIZENS AT THEIR OWN RISK ….NOW IS THE TIME GET IT DONE IRAQ

Yuri:  This is great news, since a new rate is almost impossible without the HCL... 

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Don961:  Economist: 80 percent of the monetary mass is distributed among companies and neighboring countries

Baghdad today - Diyala

The economic expert, Rasim al-Akidi, confirmed, Wednesday (February 24, 2021), that more than 95% of Iraqis do not have confidence in banks, while he indicated that 80 percent of the monetary mass is distributed to companies and neighboring countries

Al-Aqidi said in an interview with (Baghdad Today), "The Iraqi state, over many years, has not built trust between citizens and financial institutions, especially banks, because they have dealt on more than one occasion with bank balances as their money, and even citizens' funds were to stop withdrawing them if a financial crisis was exposed

He added, "The state currently owns only 20% of the monetary mass in the country, while 80% is distributed between markets, companies and neighboring countries, but in general the amount of money hoarded in the homes of Iraqis reaches 40% of the cash mass

Al-Akidi explained, "The state has not adopted modern technologies in the file of financial policies by opening current accounts to pay citizens to put their money in banks

He pointed out that "depositing the largest part of the monetary mass in banks, which is a framework adopted in most countries of the world, especially the developed ones, which keep them away from any crisis that hinders the payment of salaries to their employees, and this is the reason for the recurrent crisis in the mechanisms of paying Iraqi employees' salaries

The economic expert added, “Increasing the interest on citizens' deposits in their bank accounts is part of the solution to withdrawing the monetary mass, but the most important thing is to address other negatives, including facilitating the opening of accounts, deposits and withdrawals, conducting instruments and adopting modern technologies that make the citizen feel reassured in dealing with his money as he wishes. Through withdrawal and deposit   LINK

Don961:  What prevents Iraq from issuing an "electronic dinar"?

2021/02/23 18:35  Baghdad Today - Baghdad

Member of the Parliamentary Economic Committee, MP Nada Shaker Jawdat, said, Tuesday, that there is a major reason preventing Iraq from reaching the stage of issuing an electronic dinar to facilitate the trading and buying operations.

In an interview with (Baghdad Today), Jawdat said, "Reaching the stage of issuing an electronic dinar in Iraq, as in other countries, is basically dependent on a real and radical change of the economy in terms of openness to the governance file and the development of banks."

And she continued, "Iraq has so far been within a backward and very primitive framework compared to the current situation in most countries of the world, including neighboring countries, because the distance between us in the file of banking services is clear and very large," noting that "the government has movement on the file of governance and bank development, but work It takes a lot of time and effort. "

And she added that "the delay in the development of the bank's work in Iraq during the past years has major economic repercussions, especially in the investment file as it is a hindrance to many mechanisms."

She indicated that "there are major problems present in the Iraqi scene, including the lack of confidence of a large percentage of citizens in banks, including the civil society, and the existence of a culture of hoarding money in homes for many, which calls for building trust and changing many concepts that push citizens to save their money in banks and resort to modern mechanisms in circulation." Money. "

She indicated that "the backwardness of the banking reality is what prevents the birth of the electronic dinar, because the latter is an advanced and advanced framework for which there must be a base that responds to all its activities."  Al-Rafidain Bank called earlier, to leave the sukuk system before the issuance of the electronic dinar, stressing the importance of the latter in increasing the monetary mass included in the banking system.

The bank’s media office said in a statement that “the bank’s general manager, Khawla Talib Jabbar, emphasized during her participation in an economic symposium the importance of electronic money and its effect on increasing the monetary mass entering the banking system,” indicating that it “contributes to creating deposits outside of bank records and helps to follow up. And monitor the movement of these deposits. "

Jabbar added that "the electronic system helps eliminate corruption and fraud, speeds up collection and payment, provides services that satisfy citizens and increases the level of culture in society," calling on the media to "support the banking business in Iraq and not distort the reputation of banks because this would undermine confidence between the public and banks." "

. Jabbar stressed "the necessity of leaving the sukuk system before issuing the electronic dinar, with her emphasis on increasing public awareness of electronic payment systems."

  The Central Bank of Iraq announced, at an earlier time, its readiness to implement the electronic payment system and launch the electronic dinar in a way that contributes to increasing dealing with banks and reducing the problems of cash handling.   LINK

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Samson:  In Iraq ... a gang forging $ 100 currency was arrested and a woman was overthrown who stole 90 million dinars

25th February, 2021
The Asayish Security Directorate in Shahrazur district in the Kurdistan Region announced on Thursday the arrest of three suspects who printed 100 US dollars currency, and that they counterfeited an amount of $ 5,600.

The directorate said in a statement today, that it is within the framework of a security campaign for its forces and on the date 2-17-2021, and after receiving a notification from who sold his motorcycle to another, it became clear later that the sums received from the latter were false.

The statement indicated that immediately the Asayish forces in Shahrazur, with the help of the Asayish forces, began to open an official investigation, and in accordance with Article 281 of the Penal Code, the Asayish forces in Shahrazor, with the help of the Asayish forces, began to open an official investigation, and in accordance with Article 281 of the Penal Code, they managed to arrest the main suspect who counterfeit the US $ 100 currency, indicating that he forged 5,600 dollars An American and then he dealt with it.

The statement continued, and after conducting an investigation with him, it became clear that the printing was carried out with another person, so that the Asayish forces arrested three suspects in the operation, namely, S.A.F., (GKH) and (G.B.A.H), noting that the investigations Still going with them.

For its part, the Karbala governorate police reported that a woman had been arrested for stealing 90 million Iraqi dinars from a house. The police said in a statement that the detachments of the Anti-Crime Department of the Karbala Police Command and facilities managed, through a distinguished security effort, within only 24 hours, to arrest a woman for stealing an amount of 90 million Iraqi dinars from a house in the Yarmouk neighborhood.

According to the statement, the detachments of the Anti-Crime Division seized the amount with the accused before transferring it outside the governorate.   LINK

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Samson:  Al-Kazemi" Confirms The Welcome Of All Egyptian Companies Present On The Land Of Iraq

25th February, 2021
At the end of his visit to Iraq, Counselor Mohamed Abdel Wahab, CEO of the Egyptian General Authority for Investment and Free Zones, met Mustafa Al-Kazemi, Prime Minister of the Republic of Iraq, in the presence of a number of Iraqi ministers and officials, and Egypt's ambassador to Iraq.

At the outset of the meeting, the Iraqi Prime Minister, Mustafa Al-Kazemi, stressed the strength and durability of Iraqi-Egyptian relations, and Egypt's pivotal role at the regional and international levels, under the leadership of President Abdel Fattah El-Sisi, President of the Republic, appreciating President Sisi's full support for Iraq in various fields of concern Joint.

In this context, Al-Kazemi indicated that the Iraqi side welcomed all Egyptian companies present on the land of Iraq, and the keenness to provide all support that facilitates the implementation of their projects, and praised the successes achieved by the Arab Republic of Egypt in preserving its position as the largest recipient of foreign direct investments in the African continent.

During the meeting, the President of the Investment Authority conveyed to the Iraqi Prime Minister the greetings of Dr. Mustafa Madbouly, the Prime Minister of Egypt, and his wishes for Iraq for continued progress and prosperity. Abdul-Wahhab also extended his sincere thanks and appreciation to the Iraqi side, for what he had seen of the welcome and warm reception on the part of the brothers in Iraq. 

Abdul-Wahab explained the results of the joint work between the General Authority for Investment and Free Zones and the Iraqi National Investment Authority, with the aim of maximizing mutual benefit from the experiences of the two countries and achieving the maximum possible benefit from their cooperation, reviewing in this regard the results of field visits that took place to a number of areas in the Iraqi capital, in order to implement A number of projects in Iraq, especially in the field of establishing and developing industrial cities and education.

Counselor Muhammad Abd al-Wahhab assured the Iraqi side of the keenness to activate the mechanisms of cooperation with Iraq in all economic aspects, and the importance of concerted efforts of the two countries to establish successful partnerships between representatives of the private sector from the two countries, exploit the productive potential, double investment rates, and increase the added value of natural wealth, in order to achieve the interests The two brotherly peoples shared, provides more jobs.

The head of the Investment Authority indicated that Egyptian companies are keen to study the investment opportunities available in the Iraqi market, especially in light of the reliable expertise that many of these companies have, which can be transferred to Iraqi cadres, as well as confirming the investment authority’s keenness to provide all support to interested Iraqi investors. The various investment opportunities in Egypt, and inviting them to visit Egypt to explore the serious investment incentives and promising opportunities that Egypt offers in economic sectors that have high competitive advantages.

Abdel-Wahab expressed the start of implementation steps to provide a training program for a number of the Iraqi National Investment Authority in Egypt, including exchanging experiences in procedures and services for investor service centers, and promoting and attracting foreign direct investment. He also stressed the need for joint work to identify the available investment opportunities in the Iraqi governorates. The various different aspects, in order to be circulated to Egyptian companies interested in implementing projects for them in Iraq.

The meeting also touched on reviewing the most important cooperation mechanisms through the implementation of development projects by Egyptian companies in brotherly Iraq, in a way that contributes to doubling cooperation between the two countries and increasing national income.

LINK

Clare:  Entire Federal Reserve payment system CRASHES

By   T. Grant Benson   February 24, 2021

The United States Federal Reserve wire systems went down completely Wednesday, making it impossible for banks and other financial institutions to transfer money.

 The issue was resolved a little more than an hour after the outage occurred.

The fed claimed the disruption was due to an ‘operational error.'

‘Our technical teams have determined that the cause is a Federal Reserve operational error. We will provide updates via service status as more information becomes available,’ the Fed said in a brief statement. Later adding, the Fed “will communicate remediation efforts to our customers when available.”

“The issue impacting Central Bank applications has been resolved and users may resume normal access,” an updated alert said. “The cause is a Federal Reserve operational error. We will provide updates via service status as more information becomes available. We acknowledge that payment deadlines are impacted and will communicate remediation efforts to our customers when available.”

According to CNBC, some of the services down are Account Services, Central Bank, Check 21, Check Adjustments, FedACH, FedCash, FedLine Advantage, FedLine Command, FedLine Direct, FedLine Web, Fedwire Funds, Fedwire Securities, National Settlement.

KTFA Members "News and Views" Wednesday Afternoon 2-24-2021

KTFA:

Iobey777:   well, IMO, if you would just go ahead and show them  that you are Article 8 and your new rate.. that you have been boasting about, the security issue might decrease and investors might want to rush into your country! You have been telling the citizens of changes that Have Been Made, yet you are still not showing the world or your citizens! Why?

Samson:  Hussein: We have high oil coordination with Saudi Arabia and the Gulf, waiting for a case to invest in Iraq

24th February, 2021

Iraqi Foreign Minister, Fuad Hussein said that there is high coordination in oil policy with the Gulf oil countries, especially with Saudi Arabia, whether it is bilateral or within the framework of "OPEC". 

Hussein said in an interview with the London-based newspaper Al-Sharq Al-Awsat in its Arabic edition published today, Wednesday, that Saudi Arabia and Iraq play an important role in this organization, and coordination continues between the two countries in all fields related to energy, as it is a vital issue for the country's economy.

He pointed to the existence of a memorandum of understanding to import 400 megawatts from the Gulf network, saying: The dialogue has reached a high level, and we still need electric power, and I believe that there are discussions between specialists from Iraq and the Gulf states about how to support the power stations at home, and not just buy Electricity. Besides the problem of producing electricity, there is another problem in the distribution networks. So we need to build infrastructure for electrical distribution networks, and Gulf companies can play a role in that.

On investment projects in Iraq, the minister said, "When we talk about activating memoranda of understanding, some of them are related to these projects. There are investment projects, and in the energy and electricity sector, petrochemicals, agriculture, housing, contracting, and others. But these investment projects also relate to the political situation and political relations." It is also related to the security situation, so when there is a threat to the security situation in a certain area, investments do not enter and the investor waits.

However, he said that the security situation in Iraq has improved compared to the years from 2014 to 2017. However, recently some attacks have started in different regions, and this affects the internal economic situation and the entry of funds from abroad. There are memoranda, but in return these issues must be considered, and cooperation with the surrounding countries aims to positively affect the salvation of these attacks and the groups that destabilize the situation internally.

Hussein continued, "Sometimes security strikes affect the coming of investors, especially the Gulf, but the security situation today has become stable, except for these recent attacks, as the more the security situation improves, the better the investments and the attractiveness of foreign capital, and I see many companies and investors from the Gulf have them." Willingness to invest Investment squares in Iraq are wide, as we need investments in agriculture, tourism, energy, petrochemical, services, real estate and other sectors. 

He stressed that "investors, especially the Gulf, are waiting for a state of complete stability in Iraq in order to invest and bring in capital, as Gulf companies can play a role in building the Iraqi economy."  

LINK

DeepWoodz:  Hi Iobey!!

They wouldn’t want to tip their hand would they? So far they have been very convincing that the change in the rate (DE-value) has been beneficial...ie Kadhimi said their reserves have increased by 4 billion dollars. We do know they have a date and a timetable, from WS and Frank on the date, and from articles on the timetable. 

If the idea is to confuse and deter speculation on their currency, then they are right on track. No one, not even parliament thinks they are going to raise the rate to the glory days, hence the articles saying they want it at 1300. Or they are just lying. I don’t think they know because they are also corrupt and the CoM and K wouldn’t want them to speculate either and get richer. 

All this to say that imo, you won’t know until the moment of change. Unless you are a GOOD student, or a member of KTFA!

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Slade:  I have said this before and I continue to believe......

The delays in Iraq reinstating their currency is because this currency thing is bigger than just Iraq.

Seems they aren't the only ones making the decisions for their country.........it seems that Iraq tried to make some moves when they devalued in December without someone else's approval........(I realize they say they devalued in Dec to get more currency off the streets.....but could that be an excuse)

Godlover (I think) had stated quite a while ago that it could go as far as the 1st quarter of 2021......looks as if this could be correct........

With all that said......By watching actions that Iraq, other countries, banking companies, businesses, IMF, CBI, BIS, and others have done and said over the past years.......

It seems we are close....

I could be all wrong.........and that's cool with me......I have no ego in this game and just enjoying the show!    Blessings to all

Samson:  Representative economy: the banking system is still underdeveloped and its development will address 3 drawbacks, most notably smuggling

11:30 - 24/02/2021

Member of the Parliamentary Economic and Investment Committee, Nada Shaker Jawdat, confirmed, on Wednesday, that the Iraqi banking system is still underdeveloped, while indicating that its development will address 3 negatives simultaneously.

"One of the most important factors of economic growth in any country is the development of the banking sector as the main building block in strengthening the frameworks for financial exchange," Jawdat said in an interview with "Al-Maouma", pointing out that "the status of banks in Iraq and their technologies is still lagging compared to other countries."

And she added, "The development of banking performance and the introduction of modern technologies with all its methods will address 3 drawbacks, in that one of the most prominent is preventing currency smuggling abroad and absorbing the cash mass available in homes and reducing theft crimes in addition to securing a large cash block in banks that will be a gateway to open investment and financial loans.

Jawdat indicated that "the Iraqi banking performance is still very late for the rest of the international banks in terms of electronic mechanization, its mechanisms, despite the presence of efforts in this regard, but it is still too late."    LINK

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Samson:  A demonstration in front of the Central Bank of Baghdad demanding the return of the dollar to its previous price

24th February, 2021

Dozens of people demonstrated on Wednesday in front of the Central Bank of Iraq building in Al-Rasheed Street in the center of the capital, Baghdad, demanding that the exchange rate be returned to 120 thousand Iraqi dinars for every hundred US dollars.

The reduction in the value of the local currency against the hard currency was reflected in the prices of goods and goods, especially imported ones in Iraq, as they witnessed a remarkable rise, which burdened the shoulders of low-income and poor people.

The protesters held banners calling for the dismissal of Central Bank Governor Mustafa Ghaleb Mekhaif, accusing him of "wanting to starve the people."

Shafaq News correspondent quoted some demonstrators as saying that "the primary beneficiaries of the exchange rate increase are the banks of the political forces." Another sign carried the phrase that "these corrupt banks steal their livelihood and that of their families to feed the whales behind them."

The Iraqi Central Bank decided at the end of last year to raise the selling price of the dollar to banks and exchange companies to 1460 dinars, from 1182 dinars to the dollar, in order to compensate for the decline in oil revenues caused by the deterioration of oil prices.

Iraq relies on 90% of its income on oil revenues, and the last time it devalued the dinar was in December 2015 when it raised the selling price of the dollar to 1182 dinars, compared to 1166 dinars in the past.

The Central Bank launched its decision regarding the new pricing for the sale of the dollar in the auction for the currency on the 20th of last December.

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.  LINK

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Samson:  Kuwait .. Minister Of Finance Talks About The Running Out Of Liquidity In The State Treasury

24th February, 2021

Kuwaiti Minister of Finance, Khalifa Hamadeh, said that the scarcity of financial resources and the depletion of liquidity in the state’s public treasury must be addressed, stressing the need for economic and financial reforms.

This was reported by the Kuwait News Agency (KUNA) today, Tuesday, indicating that the Minister of Finance’s statement came in response to a bill submitted by the government to the National Assembly, allowing it to withdraw a maximum of 5 billion Kuwaiti dinars (about 16 billion US dollars) annually from the Generations Reserve Fund. Coming. This measure aims to assist the government in facing the obstacle of lack of liquidity in the state treasury (the General Reserve Fund).

The agency pointed out that Khalifa Hamadeh said: "The draft law is one of the solutions presented within a package of laws, including the adoption of the public debt law and the implementation of financial reforms." Hamada continued, "The Ministry of Finance has taken a number of measures to support liquidity since last July, when liquidity was not available."

The Kuwaiti newspaper "Al-Qabas" quoted Kuwaiti Parliament Speaker Mansour Al-Ghanim as confirming, earlier today, the need to find acceptable and economically feasible alternatives, after the government requested to deduct sums from the Future Generations Fund.

Al-Ghanim pointed out that a request to take 5 billion Kuwaiti dinars (16.5 billion dollars) from the fund to solve urgent problems is not permissible, and alternatives can be considered for this, stressing that the cost of liquidating investments in the funds is much greater than the cost of borrowing that the state can resort to.

A parliamentary document obtained by Reuters last August revealed that the general budget deficit of the State of Kuwait in the fiscal year (2020/2021) increased to 14 billion Kuwaiti dinars (45.5 billion US dollars), due to the Corona crisis and global oil prices.  LINK

KTFA Monday Night CC with Frank26 "CBI Tells Citizens Again Of 000's " 2-22-2021

KTFA Monday Night CC with Frank26:

2-22-21

CBI TELLS CITIZENS AGAIN OF 000’s

THE FOLLOWING VIDEO IS ALL IN FRANK'S OPINION

PLAYBACK IS: 605.313.5163 PIN: 156996#

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=XNIJa03mQn4

KTFA Members "News and Views" Monday Afternoon 2-22-2021

KTFA:

Samson:  Goldman raises its forecast for Brent price in the third quarter to $ 75 a barrel

22nd February, 2021

Goldman Commodities Research raised its Brent crude oil price forecast of $ 10 for the second and third quarters of 2021, indicating lower expectations for stocks, higher cost margins for resuming upstream activities and speculative inflows

The American bank expects Brent prices to reach $ 70 a barrel in the second quarter from the $ 60 it had previously expected, and to reach $ 75 in the third quarter from $ 65 previously

"We believe that restoring balance at this faster pace during what was expected to be the dark winter days will be followed by an increasing deficit this spring at a time when demand will recover at a faster rate than supply, setting the stage for a scarce metropolitan market," Goldman said in a note dated Sunday. The bank now expects global oil demand to reach 100 million barrels per day by late July 2021, compared to its previous forecast for August 2021

Oil prices rose on Monday as the slow return to US crude production, which was reduced by freezing weather, sparked supply concerns as demand recovers. Goldman expects the freezing weather in Texas to lead to a global deficit of 1.5 million barrels per day this month and cut production by 0.2 million barrels per day in March due to damaged infrastructure and other factors

Goldman said an agreement to increase production by the Organization of the Petroleum Exporting Countries (OPEC) and its allies at the next meeting in March would not have a downward impact on prices as supplies are already falling behind

The bank expects a quota increase of 0.5 million bpd in August, as Saudi Arabia backtracks on a unilateral cut of 1 million bpd, and continues to expect modest exports from Iran this year. Last week, UBS raised its Brent price forecast to $ 68 a barrel for the second half of this year  LINK

Samson:  Parliamentary Finance: Two options for financial abundance from increasing oil prices

02/22/2021 10:37:57

 A member of the Parliamentary Finance Committee, Sherwan Mirza, affirmed that the financial increase or abundance from the high oil prices will be used to fill the deficit or go as a supplementary budget.

Mirza told {Al Furat News} that "the price proposed by the government for a barrel of oil is 42 dollars, and after the recent adjustments that we have made, the price has become 45 dollars per barrel."  He added, "The $ 45 is a small price compared to the current price, but it is considered a conservative price because we do not know what will happen in the coming months."  A member of the Finance Committee stated that "the price was proposed by experts in the Ministry of Oil and the National Oil Company {SOMO}".  Mirza added: "If there is an increase or a financial abundance due to the high price of oil, it can be used to fill the deficit or as a supplementary budget."

The advisor to the Prime Minister, Mazhar Muhammad Salih, had confirmed earlier that Iraq is on the edges of economic recovery, and said, “Iraq is on the edges of economic recovery at the present time in two areas.

The first is that there is a tangible agricultural boom that will achieve growth in non-oil GDP in 2021 by about More than 4%, which is about one and a half times higher than the population growth, adding that "the second scale is the boom in the energy demand sector in the world. Oil prices have gradually recovered, which is a positive sign and strengthens the country's overall financial capacity."

Saleh stressed "the necessity of dealing with this matter with great caution, by laying a basis for sustainable development and minimizing economic shocks."  LINK

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Samson:  The Council of Ministers forms a committee to study the consequences of changing the price of the dollar

02/22/2021 14:36:26

The Council of Ministers decided to form a committee to study the consequences of changing the currency exchange rate, and to propose the required solutions as far as investment projects are concerned.

The committee is chaired by a representative of the Ministry of Planning, and its membership includes, in addition to the General Secretariat of the Council of Ministers, representatives of the ministries (Finance, Construction, Housing, Public Works and Municipalities, and Electricity) as well as the National Investment Authority, the Central Bank of Iraq and the Iraqi Contractors Union.

The decision stipulated that the committee would submit its recommendations within a working month to the Council of Ministers.   LINK

Osmosis:  Yeah, now that we are days away from changing the rate, let's form a committee to study the effects of changing it..........SMH

Clare:  THEY ARE, A LOT FARTHER ALONG THEN THEY TELL US!
THE MORE WE SEE THESE KINDS OF ARTICLES (EXCHANGE RATE)... AND THE DELETION OF ZEROS ARTICLES LIKE FRANK & WS TOLD US... THIS IS ACTUALLY A GOOD THING.. IMO

Samson:  Parliamentary services: Baghdad does not need an international conference for reconstruction, but rather to get rid of the corrupt

22nd February, 2021

The Parliamentary Services Committee confirmed, on Monday, that Baghdad does not need an international conference to rebuild it, but rather to get rid of corrupt officials in the capital's secretariat.

Committee member, Deputy Alaa al-Rubaie, in a statement received / Mawazine News / a copy of it, criticized “the mayor of Baghdad’s invitation to hold an international conference for the reconstruction of the capital in the presence of international advisors,” indicating that “Baghdad does not need such conferences as much as it needs to launch a broad service campaign, as well as getting rid of Of the officials accused of corruption inside the secretariat."

Al-Rubaie pointed out that "the Baghdad Municipality has become an exhausted institution and is unable to provide services that the citizen aspires to, and as a result, it is not possible to benefit from the conference and international advisers."

A member of the Parliamentary Services Committee added, "Baghdad and the other provinces are in dire need of sincere, professional and efficient hands for direct operational and practical service movement from the removal of waste, clothing, cleanliness and rehabilitation of sanitation networks, without resorting to the experience of international consultants in this," stressing that "work monitoring inside Trust and fighting the corrupt creates the development that the citizen seeks."   LINK

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Samson:  Kurdistan forms a special court for corruption cases

22nd February, 2021

The Integrity Commission in the Kurdistan Region announced, on Monday, the formation of a special court for corruption cases in the region.

A statement by the commission stated, "At our request to the Judicial Council, it was decided to form a criminal court to try all those accused of corruption cases in the name of the (Anti-Corruption Crimes Court) at the Kurdistan Region level and will be devoted to investigating corruption files.

He added, "We in the Integrity Commission in the Kurdistan Region of Iraq applaud the decision of the Judicial Council and believe that this step has positive effects on the process of confronting corruption and urgency in resolving files in the courts."   LINK

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Al-Kazemi stresses the importance of expediting the adoption of automation and e-governance by all state departments and institutions

02/22/2021 16:32:53

The e-Governance Committee held its meeting, today, Monday, under the chairmanship of Prime Minister Mustafa Al-Kazemi.

According to the government statement, Al-Furat News received a copy of it, at the beginning of the meeting, for a comprehensive presentation of the electronic services that the committee is working on, and the importance of its contribution to keeping pace with global development by updating government mechanisms at work, as well as facilitating citizens' transactions and the contribution of these procedures to anti-Corruption.

Al-Kazemi praised the "efforts of the workers on the project", stressing the "importance of expediting the adoption by all state departments and institutions of automation and electronic governance procedures." "It is no longer acceptable for citizens to proceed in the same format that was adopted a century ago, and today we are in the year 2021," he added.

According to the statement, Al-Kazemi also learned about the electronic mechanisms that the Border Ports Authority had developed and entered into implementation, which effectively contributed to curbing smuggling and corruption, in addition to its contribution to maximizing government imports, protecting local producers and preserving consumer rights.    LINK
 

Don961:  he exchange of the dollar into two prices, starting from 120 up to 145 thousand: a "new plan" that must be implemented to end the crisis in Iraq.

2021-02-22 Yes Iraq - Baghdad

It seems that talking about the exchange rates of the dollar and its disparity will not end except with the approval of the general fiscal budget 2021 to serve as a fixed constitution on which things are going in the future until the new budget for next year.

Economic analyst Mustafa Sanad, in a blog post on social media and monitored by "Yis Iraq", says that when the Central Bank’s sales decreased from $ 170 million to $ 3 million per day, within a month, imports did not stop, and the reliable story was that imports were covered. Of the dollars in the possession of citizens, groups and individuals outside the banking cycle, meaning that the role of banks that used to buy dollars from the central bank for the purpose of financing imports was a mere formality and it could be dispensed with.

Regarding the alternative, Sanad explains: The alternative is to activate the stock market, and the most successful ways are by contracting with an electronic cash company to implement an electronic market program for the dollar. The Securities Commission (instead of the Central Bank) sells the dollar in a manner available to all, and the possibility is citizens, banks, or suppliers Buying directly through a mobile application with a click of a button, transferring the account, and citizens can also buy each other or put the dollar for sale without intermediation and a price difference, so the market within this screen that brings together sellers and buyers creates an equilibrium price for the dollar, provided that the Commission determines two prices When starting to sell, the lowest price (1200) and the highest price (1450), and you start with the lowest price up.

Thus, we are deporting the central bank from a task that is not one of its tasks, which is the currency auction and the direction to achieve economic stimulus and the exercise of its primary role in monetary policy.

A bond is raised, asking how the state can finance its cash deficit if it sells dollars at a price less than 1450?

Answer: Since the state aims to finance 22% of dollar sales by raising the price from 1190 to 1450, the Ministry of Finance can be strengthened with 22% of new payment methods, pumped every month with government spending, this monetary increase contributes to raising the price of the dollar gradually without interference The state, through market mechanisms, supply and demand and increase the demand for the dollar against the limited supply of it, so the dollar gradually rises as it rose 6 months ago (before the exchange rate changed).
However, this increase does not affect the citizen’s purchasing power, as he is compensated by additional means of payment that ensure that economic activity or the citizen’s inability to purchase daily commodities will not stop, so the economic cycle continues to rotate, the state funds its deficit, and the dollar reaches its real, undistorted price.

Regarding the segments covered by the stimulus, the economic analyst answers that the segments affected by the embargo, injustice, lack of access to work and the entitlements of farmers, contractors and owners of locally produced projects, with no prejudice to the salaries of employees and retirees, but goes beyond the matter to raise the salaries of low-income brackets, indicating that the nature of these means of payment, Money will be of different liquidity, and the state controls the degree of its liquidity and manipulates it according to market readings (inflation or deflation), concluding that these are code-breaking ideas that I give free to decision-makers.

A member of the Parliamentary Legal Committee, Representative Hussein Al-Oqabi, revealed that there was a majority in favor of keeping the dollar exchange rate at 1450 dinars.

In a statement monitored by Yass Iraq, Al-Oqabi said, "We are still pressing for the return of the dollar’s ​​exchange rate to its previous position, or the pursuit of a middle settlement, especially since there are parliamentary parties who are adherent and convinced of the new exchange rate at 1450 dinars per dollar."

He pointed out that "the current efforts by a parliamentary grouping pay for the exchange rate to be at 1250-1300 dinars per dollar, but the matter has difficulties."

Al-Uqabi added, "The parliamentary majority adheres to the new dollar exchange rate, with government conviction in this direction, but we still have some time, but we are exerting pressure to reconsider the exchange rate or push to find compromises because the current price has caused an increase in prices in the Iraqi market by a percentage." 30% ”.

And he continued, "There is indeed a parliamentary struggle between two parties about the matter between those who stick to the exchange rate and those who want to return it to its previous position."

He pointed out to "other representatives to find an equation that contributes to alleviating harm to large segments of Iraqis and pushing to find convictions that contribute to changing the exchange rate by an amount that reduces the burden on the shoulders of the poor and simple people."

A member of the Parliamentary Finance Committee, Sherwan Mirza, confirmed that "the new dollar exchange rate has not been manipulated by the budget, given that the country's financial policy has been drawn to the price that was mentioned in the bill."

He emphasized that "Parliamentary Finance worked according to the powers granted to it to amend and replace some items in the budget and the exchange rate from the government's authority, and we do not think it intends to change it."

In turn, a member of the Parliamentary Economy Committee, Mazen Al-Faili, affirmed that "the surplus from the difference in the price of a barrel of oil can contribute to maximizing revenues and filling the current financial deficit."

He explained in a televised interview that "the price of a barrel that was proven in the budget amounted to $ 45 and the current price on the global market for Iraqi oil has reached $ 60, and this encourages going to a plan to reduce the exchange rate."

He added that "MPs proposed to go for an exchange rate estimated at 1300 dinars against the dollar, as a compromise. The proposal is before the government now and reduces its powers and can be fixed in the budget."   LINK

MilitiaMan: "Looks Like Iraq Has Been Given The GREEN LIGHT!" 2-21-2021

KTFA:

MilitiaMan:  Looks like Iraq has been given the GREEN LIGHT!! (See article below) I like the use of the word expressed..

It means to me they have a mechanism that has an expression to it. As in an international way of expressing their mechanism or exchange rate to the world that is in the white paper recently.

They'll need it as it is the CORNER STONE or foundation of the reconstruction effort and the overall country's reforms going forward.. Imo..

Game is about to kick off. imo ~ MM 

Advisor Al-Kazemi: Iraq is on the edges of economic recovery in two areas? 2/20

Baghdad: Shaima Rasheed

Advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that Iraq is on the brink of economic recovery, indicating that the Supreme Committee for Reform has important decisions to advance the public and private sectors.

In an interview with Al-Sabah, Saleh explained that Iraq is on the edges of economic recovery at present in two areas. The first is that there is a tangible agricultural boom that will achieve growth in non-oil GDP in the year 2021 by more than 4%, which is one and a half times higher than the growth Almost the population, and the second scope is the boom in the energy demand sector in the world, as oil prices have gradually recovered, which is a positive sign and strengthens the country's overall financial capacity.

Saleh stressed the need to deal with this matter with great caution, by laying a basis for sustainable development and reducing economic shocks, and pointed out that the international community supporting Iraq through the International Financial Alliance team, which was established months ago, expressed its desire to support the established principles of sustainable growth in the national economy.

It was also "expressed" in the white paper recently approved by the Council of Ministers by establishing a blueprint and an institutional entity (for economic reform), which is the linchpin of this developmental sustainability.

He added that the formation of the Supreme Committee for Reform, which will own Decisive and radical executive decisions to promote productive, investment and operational activity in the public and private sectors will be supported by a large international presence represented by international multilateral financial institutions and the Group of Seven major industrialized countries, pointing out that the availability of national and international wills will be embodied by participating in the reconstruction and establishing the country's reform and transformation team from (economy Crises) to (the construction economy and sustainable development), to be the cornerstone of the economic transition for development.  link