MilitiaMan Thursday Night "New, Wow" 7-22-2021

KTFA:

Samson:  With the end of the fiscal year approaching, question marks about the reasons for not activating the budget

22nd July, 2021

Member of the Parliamentary Finance Committee, Muhammad Al-Shabki, stressed that all articles of the budget, even the contested ones with the Federal Court, are valid.

Al-Shabki said in an interview with Alsumaria News, "The budget articles that were challenged by the government at the Federal Court are still valid and obligatory until the outcome of the appeal is decided and the final decision is issued by the court to invalidate or confirm the article."

Al-Shabki added, “What proves the activation of all articles in the budget is the court’s rejection of the state decision demanded by the government regarding the contested articles, which means that these articles must be applied, and they are valid and obligatory for implementation by the Ministry of Finance and the ministries concerned with this matter.”

A member of the Parliamentary Finance Committee, Shirwan Mirza, confirmed that activating the budget items and launching allocations for projects after the House of Representatives voted on them, is the prerogative of the executive authority, especially the Ministry of Finance.

Mirza said in an interview with Alsumaria News, "The implementation of the federal budget items after the parliament's vote on them is within the authority of the executive authority, specifically the Ministry of Finance, which has actually begun to activate the items related to the operational aspect," noting that "the investment and projects side had ambitions to be It is in advanced stages in all governorates and to serve the citizens, but there are many factors that affected the achievement of this goal.”

Mirza added, "The appeal submitted by the government against some articles of the budget caused the suspension of the activation of those articles pending the outcome of the appeal by the Federal Court, but in general, the appeal does not stop the implementation of the original budget, given that there is no judicial decision to stop the implementation of the budget until a decision is made. Appeals,” explaining that “the Minister of Finance has previously talked about the fact that the funds obtained from oil revenues and non-oil resources are sufficient to cover the operational aspects.”

He pointed out that "the government can launch projects by covering their allocations by borrowing from the central bank to accelerate the activation of these projects and repay those loans from oil revenues successively to ensure that it does not affect the central bank's reserves," stressing that "we do not have a full release on the exact reasons for not launching project allocations until this moment, as it is the competence of the executive authority, but we are following this matter with the relevant authorities to find quick solutions to this matter.

For his part, a member of the House of Representatives, Qusay Abbas Al-Shabki, indicated that the weakness of parliamentary oversight on the government's performance was one of the reasons for its failure in many files, including the file of activating the federal budget.

Al-Shabki said in an interview with Alsumaria News, “The issue of the government’s non-activation of the budget articles, which has been legislated for a long time within the parliament, is a strange matter. The government to activate its provisions as soon as possible and to indicate the reasons for the delay until the moment.”

Al-Shabki added, “The fiscal year has only a few months left, therefore, the government is required to transfer financial allocations to the governorates to complete the stalled projects that are under construction,” stressing that “this clear government failure was an inevitable result of Parliament’s failure to perform its oversight duty on the executive authority, which we must acknowledge in front of the masses.”  LINK

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

MilitiaMan:  So does this sound like they have activated the budget?

Lol China has the first deal? Is today, not the last day for international banking and is it not the same time frame that the UST has requested data reports from T-Bill holders over 4 $billion large? Yep! Why?

Today was and is. Why do I ask? Because there are market events that need large attention.. Markets that need utility and liquidity for them to be effective! They have urgency too.. There are no coincidences.

So as we can see there, as we speak is data that supports we are about to see terms of contracts.. China front runs is and says they have the first deal with 44% or Iraq’s new exports.. NEW!!!! Wow!! IMO - MM

Note: 

“The fiscal year has only a few months left, therefore, the government is required to transfer financial allocations to the governorates to complete the stalled projects that are under construction,”

"The implementation of the federal budget items after the parliament's vote on them is within the authority of the executive authority, specifically the Ministry of Finance, which has actually begun to activate the items related to the operational aspect,"

Samson:  Adviser to the Prime Minister: China consumes 44 percent of Iraqi oil exports

22nd July, 2021

Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, announced Thursday that China consumes 44 percent of Iraqi oil exports

Saleh said in a press interview, "China is the first market in Iraqi oil exports, and it alone consumes about 40-44 percent of Iraqi oil exports, with about 80,000 barrels of oil per day

He added, "A small part of those exports are the dues of oil service contracts for Chinese companies operating in Iraq, to ​​which 100 thousand barrels per day were recently added, deposited in the bank account designated for the implementation of projects of the cooperation framework agreement, which became truly effective last month  LINK

MilitiaMan:  The first market in the Iraqi oil export market.. Really? Now why would that come out today? is it because the first is to be done under a new exchange rate?

We all know exports have been an ongoing concern, nothing new. There is nothing to suggest there are not new contracts written.

The delegation has been in DC for a few days. It would not surprise me that China is in the light as they don’t want to be shadowed. The moves at play for projects are going to be staggering..

The WTO and the laundry list of others have their sights on projects.. The list is long and they’re in DC and not China.. lol It is so like China to front run the US in perception, however, they always seem to be sucking hind tit when it comes to global trade. So we hear.. lol -MM

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

Samson:  His spokesman reveals the priorities of Al-Kazemi's visit to Washington

22nd July, 2021

Today, Thursday, the spokesman for the Prime Minister, Hassan Nazim, revealed the priority of Al-Kazemi's upcoming visit to Washington.

Nazim said, in a statement followed by (Al-Oula News), that "Prime Minister Mustafa Al-Kazemi's priority in the event of his scheduled visit to Washington is the issue of the withdrawal of US and international combat forces from Iraq."

He added that "a large delegation from the Ministry of Foreign Affairs, Education and Culture will be present before Al-Kazemi in Washington to prepare for this visit," noting that "the strategic dialogue is not limited to the withdrawal of US forces, but there are very important files that will be discussed in the fourth round of dialogue between Iraq and the United States."

Nazim pointed out that "the government is very keen to guarantee Iraq's rights to these dialogues and to return with important results that serve Iraq."   LINK

MilitiaMan:  The theme here is there are files that need and are to be on the table. The lead up is not limited for the above as we know from factual data that supports one not mentioned above is economic files. For good reason too.. Just because they key economic issue files are not mentioned doesn’t  mean they are not on or in the forefront just outside of our eyes, and timing wise just yet..  

There is nothing out there that suggests the deals and files are not for the activation of the white papers..

 The contracts like as in with China are new, as the previous ones needed to be renewed imo. — let’s see if what we see is in fact critical issues for the White Papers to be revealed before, on or just after Kahdimi’s visit.. - MM

"Thursday News" Posted by Samson at KTFA 7-22-2021

KTFA:

Samson:  Iraq is the fifth largest exporter of crude oil to China in June

22nd July, 2021

The Chinese Customs Administration showed that Iraq was the fifth largest exporter of crude oil to China, while Saudi Arabia topped the oil-producing countries

The administration said in a statistic seen by "Economy News", that "China imported from ten crude oil-producing countries in the month of June an amount of 40,130 thousand tons of crude oil, which is equivalent to 9.363 million barrels per day

Saudi Arabia and Russia held the top two seats in June, as Saudi Arabia sent 1.680 million barrels per day of crude oil to China in June, while Russia's shipments reached 1.551 million barrels per day

She added that "Oman came third as the largest oil exporter to China, with a rate of 896,000 barrels per day, followed by Angola fourth, with 858,000 barrels, while Iraq came fifth, as it exported 3.550 tons of crude oil in June, equivalent to 24.850 million barrels per month, equivalent to 828,333 thousand barrels per day

She noted that Kuwait came sixth with 560,000 barrels per day, Brazil came seventh with 548,000 barrels per day, then the UAE came eighth, with 403,000 barrels per day, America came ninth, with 331,000 barrels per day, and Malaysia ranked tenth, with 273,000 barrels per day  LINK

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

Samson:  Financial survey: The Chinese yuan competes with the dollar and is heading to become a global currency

21st July, 2021

A survey issued by the "Forum of Official Monetary and Financial Institutions" showed that the yuan could become a global currency, as about a third of the world's central banks plan to increase their reserves of the Chinese currency.

According to the Global Government Investor Survey, which is published annually by the Forum of Official Monetary and Financial Institutions, an independent think tank active in Britain and the United States, 30% of central banks plan to increase their holdings of the yuan over the next two years. According to the "Forum", the yuan's share is currently equivalent to 10 percent of the foreign exchange reserves of central banks.

The survey showed that 20 percent of those banks plan to reduce their holdings of US dollars within two years, while 18 percent of them plan to reduce their holdings of euros. According to the survey, central banks, sovereign wealth funds, and pension funds maintain a record level of assets of $42.7 trillion.   LINK

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

Samson: Analysts and activists call for fighting corruption inside and outside Iraq

22nd July, 2021

On Thursday, analysts and activists called for fighting corruption inside and outside Iraq, hours after the British Embassy in Baghdad announced the punishment of five people accused of corruption, including an Iraqi.

The British Embassy announced today, Thursday, that the United Kingdom announced its decision to punish five individuals involved in corruption cases worldwide, adding that one of the persons subject to sanctions today is an Iraqi citizen involved in corruption cases. Analysts and activists said in interviews with Alsumaria News, "This matter strongly calls for the need to fight corruption inside and outside Iraq because of its great impact on the lives of Iraqis."

They added that "fighting corruption and punishing the corrupt will contribute to returning state funds that were looted, especially from abroad, as well as being an important deterrent for those who beg themselves to steal Iraq's money," calling on the government and relevant authorities to "follow up on the matter and prosecute those involved wherever they are."

Two months ago, the President of the Republic, Barham Salih, presented a draft law on “recovering the proceeds of corruption” to Parliament, which includes subjecting all Iraqi state officials who held high positions most vulnerable to corruption, and since 2004 until now, from the rank of director general and above, to procedures this is the law. LINK

Samson:  Dams in the world, including Iraq, are in danger of collapsing due to rising water levels

22nd July, 2021

The rise in the level of waterways poses the greatest threat to the security of dams in the world, given that they are vulnerable to the repercussions of climate disruption, according to Michel de Vivo, Secretary-General of the International Committee on Large Dams.

The most prominent danger lies in the water more than in the earthquakes. When the water rises to the unflooded part of the dam, it penetrates into it and damages the foundations of the facility and may eventually topple it. The danger is especially high for the earthen dams, which are the most common in the world, such as the Egyptian Aswan Dam.

Modern dams have been erected in the mountainous regions of China using roller-compacted concrete technology, which allows saving materials and speeding up construction, and the Chinese and Spaniards are pioneers in this field. This risk can be reduced through continuous monitoring of the facility and its surroundings with a set of tools that measure the extent of the mobility of its components, and the majority of structures built since the seventies of the last century are equipped with tools of this type.

This monitoring also allows the dam to continue to operate, even when a gap is detected. Gaps whose size does not exceed a few centimeters do not greatly hinder the dam’s work, as the dam must have been badly damaged in order to collapse. It is also recommended to hire civil engineering experts to regularly inspect these facilities.

The main danger lies in the difficulty of anticipating a rise in the water level. The dams were designed to withstand the surge in water levels hundreds of years ago. However, climate change is changing the equation. The amount of water is not necessarily increasing, but the fluctuations are becoming more intense, with longer droughts and more severe rises in the water level.

It is necessary to review the local expectations for each dam, if available. This step would help to strengthen and adapt the rules of management.

The water crisis in Iraq

The matter also applies to Iraq, which has witnessed a major water crisis since 2003, after the decline in the water level across the Tigris and Euphrates rivers due to the water policies adopted by neighboring countries to reduce release rates, change the tributary paths and build giant dams. Iraq established eight dams and lakes to regulate the use of water and benefit from it in various fields in agriculture, tourism, staving off floods, storing water and developing fisheries, most notably the Mosul Dam, which revolved around it in recent years, fears of its collapse.  LINK

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

Samson:  The Pentagon: The fate of our direct military presence in Iraq will be decided with our Iraqi partners

07/22/2021 19:24:46

 The US Department of Defense (the Pentagon) announced, on Thursday, hosting an Iraqi delegation as part of the ongoing strategic dialogue between the two countries.

The Pentagon said in a statement, "The direct US military presence in Iraq is under discussion with our Iraqi partners." The Pentagon explained, "Our mission, which focused on ISIS, was not intended to be permanent, and that the fate of our direct military presence in Iraq will be decided with our Iraqi partners." The Pentagon confirmed, "We will continue to talk with the Iraqis about our military presence in Iraq to serve the American interest."

Foreign Minister Fouad Hussein arrived on Tuesday 7/20/2021 in the American capital, Washington, at the head of the negotiating delegation to hold the fourth round of strategic dialogue to be held on Monday 7/23/2021 between Iraq and the United States of America.  LINK

"Vietnam News" Posted by Samson 7-20-2021

KTFA:

Samson:  US, Vietnam reach deal on valuations of the dong

20th July, 2021

The US and Việt Nam on Monday reached an agreement regarding the US concerns about Việt Nam's currency practises

Việt Nam has pledged not to manipulate its exchange rate in order to gain an unfair competitive advantage and will refrain from any competitive devaluation of the Vietnamese đồng, the State Bank of Việt Nam has said in a joint statement with the US Treasury.

The US raised its concerns about Việt Nam’s currency practices in a virtual meeting on Monday between US Secretary of the Treasury Janet Yellen and the State Bank of Việt Nam (SBV) Governor Nguyễn Thị Hồng.

In the meeting, the US and Việt Nam agreed that the two sides were trusted partners with a friendship grounded in mutual respect that could effectively work together for the benefit of both sides. “In keeping with this strong partnership, the Treasury and SBV share the goals of maintaining the strength, stability, development, and resilience of each country’s economy and financial system,” the statement published on the Treasury’s website said.

The Treasury and the SBV have had extensive discussions in recent months and have reached an agreement to address the Treasury's concerns about Việt Nam’s currency practices.

This is described in the Treasury’s Report to Congress on the Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the US.

The SBV stressed that the focus of its monetary policy framework was to promote macroeconomic stability and control inflation.

“Việt Nam confirms that it is bound under the Articles of Agreement of the IMF to avoid manipulating its exchange rate in order to prevent effective balance of payments adjustments or to gain an unfair competitive advantage and will refrain from any competitive devaluation of the Vietnamese đồng,” it said.

The SBV was also making ongoing efforts to further modernize and make its monetary policy and exchange rate framework more transparent, said the SBV. It added that the SBV will continue to improve exchange rate flexibility over time, allowing the Vietnamese đồng to move in line with developments in financial and foreign exchange markets and in line with the fundamentals of economics while maintaining macroeconomic and financial market stability.

The SBV will continue to provide necessary information for the Treasury to conduct a thorough analysis and reporting on the SBV’s activities in the foreign exchange market for the Treasury’s semiannual Report to Congress on the Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the US.

The Treasury will inform other US government agencies that it had reached an agreement with the SBV to address US concerns about Việt Nam’s currency practices.

“The State Bank of Việt Nam will continue to manage exchange rate policy within its general monetary policy framework to safeguard the proper functioning of the monetary and foreign exchange markets, to promote macroeconomic stability and to control inflation, not to create an unfair competitive advantage in international trade,” Hồng said.

“I believe the State Bank of Việt Nam’s attention to these issues over time will not only address the Treasury's concerns but will also support the further development of Việt Nam’s financial markets and enhance its macroeconomic and financial resilience,” said Secretary Yellen in the statement.

The two sides also committed to maintaining close co-operation between Treasury and the SBV and said they look forward to addressing other shared challenges, such as supporting a strong and inclusive recovery from the COVID-19 pandemic.

Việt Nam had been under pressure from the US over its currency practices after the Trump administration, in December last year declared Việt Nam a currency manipulator.

The Treasury under Yellen in April removed the label of currency manipulator for Việt Nam.

The US was the largest export market of Việt Nam last year with a value of about US$77 billion, increasing by more than 25 per cent over 2019 and bringing the trade surplus Việt Nam ran with the US to nearly $64 billion, according to customs.   LINK

Samson:  Việt Nam named among world’s top 20 host economies for FDI for the first time

19th July, 2021

Việt Nam was named among the world’s top 20 host economies for foreign direct investment (FDI) for the first time in 2020 with an inflow of US$16 billion.

The country was up five places against last year’s ranking to reach 19th on the list, according to UN Conference on Trade and Development (UNCTAD)’s World Investment Report 2021. 

While global FDI flows fell by 35 per cent to $1 trillion amid the COVID-19 pandemic, the lowest level since 2005 and almost 20 per cent lower than the 2009 trough after the global financial crisis, the FDI in Southeast Asia, considered an engine of global FDI growth for the past decade, contracted by 25 per cent to $136 billion, said the report. 

It stated that Việt Nam remained among the three largest recipients in the region with a decline of only 2 per cent, while the remaining two of Singapore and Indonesia suffered drops of up to 21 per cent and 22 per cent, respectively.

According to UNCTAD, a slight decline in FDI to the country was due to significantly lower investment contractions in manufacturing and realty activities. However, thanks to the rise in investment in electricity projects, including a $5 billion gas-fired power plant proposed by ExxonMobil (US) and a $2.2 billion coal-fired power plant developed by Thai MNEs in the Quảng TRị Economic Zone, the flow of FDI was still okay.

As investors, Singapore and Japan topped the list of countries and territories having investment projects, in which Singapore’s reached $5.64 billion, 37 per cent of the total and Japan invested $2.44 billion, a surge of 67 per cent in investment compared to 2019.

UNCTAD pointed out local measures to promote investment, including the permission for certain disputes between foreign investors and the State to be taken to international arbitration, were keys to attract FDI inflows.

The report also said the Vietnamese government has expanded the list of business lines eligible for investment incentives, along with the publishing of a detailed list of conditions applied for businesses to be considered high-tech enterprises eligible for tax incentives as good points. “Việt Nam for the first time introduced a negative list on market access, affording foreign investors with national treatment (NT) except in the sectors included in that list. The country also raised the cap on foreign ownership in domestic airlines.”

According to the report released late June, the US continued to be the world’s largest FDI recipient, followed by China and Hong Kong (China).  UNCTAD expected global FDI flows to bottom out in 2021 and later recover some lost ground, with an increase of about 10-15 per cent.

The report said: “This would still leave FDI some 25 per cent below the 2019 level,” adding current forecasts show a further increase in 2022 when the upper bound of projections would bring FDI back to the 2019 level. The report concluded: “Prospects are highly uncertain and will depend on, among other factors, the pace of economic recovery and the possibility of pandemic relapses, the potential impact on FDI of recovery spending packages, and policy pressures.”

In the first six months of 2021, the total FDI commitments to Việt Nam declined by 2.6 per cent year-on-year to $15.27 billion, the FDI disbursement rate, however, rose by 6.8 per cent to stay at $9.24 billion. Currently, Việt Nam has totally 33,787 foreign investment projects with a combined registered capital of $397.89 billion, while the disbursed amount stood at US$241.1 billion, 60.6 per cent of the committed amount.   LINK

KTFA Monday Night CC with Frank26 and Team "They are Telling Them: 7-19-2021

KTFA:

KTFA Monday Night CC

Frank26:  7-19-21……THEY ARE TELLING THEM

This video is in Frank’s and Team’s opinion

Playback Number: 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

Trevor:  what color is that suit???????????????????????????????????????

Clare:  THE COLOR IS CHAMPAGNE - FRANK WILL EXPLAIN IT ON THE CC  

Iobey777:  I’m thinking it means it is time to Celebrate!! IMO!

https://www.youtube.com/watch?v=tNTD-fa896w

KTFA Monday Night CC and more: "The Rest of the Phenominal Articles!" 7-12-2021

KTFA:

KTFA Monday Night CC

Frank26: “THE NEXT SET OF PHENOMENAL ARTICLES”

This video is in Frank’s and Team’s opinions.

Franks team is Walkingstick, Petra, MilitiaMan and Eddie from Iraq.

Playback Number: 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=pwLgnROeI2g

Samson:   The UAE decides to issue a digital currency and support the digital transformation of the financial sector

07/12/2021 13:05:06

 The Central Bank of the Emirates announced its most important trends during the period from 2023-2026, through which it seeks to be among the top 10 central banks in the world, according to the Emirates News Agency (WAM). 

The Central Bank’s directions in the coming years are based on achieving 7 goals, including issuing a digital currency and supporting digital transformation in the financial services sector, by adopting the latest technologies in artificial intelligence and big data.

The directions include “the use of technology in regulatory and insurance systems, and the use of digital identity infrastructure, to enhance financial inclusion and access to financial services faster and better.”

In addition to the "goal to develop a strong and secure financial cloud infrastructure for the financial and insurance sector services", the directions include supporting the green economy in the UAE, continuing to develop the financial infrastructure, and promoting innovations to support the UAE's competitiveness in this field.   LINK

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

Samson:  Question and answer.. What are the pros and cons of deleting zeros from the Iraqi currency? And what are the conditions for that?

12th July, 2021

Iraq is witnessing a severe financial crisis that began with the outbreak of the Corona virus last year and the decline in global demand for oil, which represents nearly 91% of Iraq's financial imports.

With the continuation of the financial crisis and the failure to pay the salaries of employees last year, the Iraqi government resorted to what was called the Iraqi government reform paper (the white paper), which included the devaluation of the Iraqi dinar against the US dollar, and the decision entered into force at the beginning of this year.

With the rise in oil prices globally, the Iraqi government has been thinking about long-term financial strategies that may protect the country from falling into a financial crisis that may be more influential, without specifying a date for the implementation of this step.

Saleh believes that deleting zeros from the currency is a necessary condition for reducing accounting numbers and facilitating arithmetic use

What are the conditions for deleting zeros?

Deleting zeros from the Iraqi currency requires the fulfillment of two conditions, according to Saleh. The first is price stability within the country, which means the stability of the dollar exchange rate against the Iraqi dinar, which is still witnessing relative volatility after the Iraqi government decided to raise the value of the dollar at the beginning of this year.

As for the second condition, Salj adds in his speech to Al Jazeera Net that it is represented by stability in political life inside Iraq, which is what is required to change the exchange rate from laws and political consensus and so on.

Why deleting?

In his interpretation of the reasons for deleting 3 zeros from the Iraqi currency (a dollar is equivalent to 1450 Iraqi dinars), Saleh comments, "The importance of deleting zeros from the currency and slimming its units as a necessary condition to reduce accounting numbers and facilitate arithmetic and the cost of managing new large numbers and the absence of small numbers and fractions."

He continues that the slimming of coins comes because of their role in sustaining the calculation of huge numbers of financial values ​​that are not absorbed by ordinary computers due to the large number of decimal places and the emergence of many accounting errors, especially when dealing with trillions, which means that one number in front of it has 12 decimal places.

Regarding the importance of the deletion process and the extent of its realism, Saleh indicated that the Central Bank of Iraq put a project to delete 3 zeros from the Iraqi currency the subject of research and study a long time ago, after reviewing 54 international experiences since the end of World War II until now, the last of which was in Iran and before it. Turkey.

Rashid believes that the current economic situation in Iraq is not ready to delete zeros from the local currency

What effects?

 For his part, a member of the Iraqi Parliament's Finance Committee, Ahmed Hama Rashid, confirmed that the current economic situation in Iraq is not ready to delete zeros from the local currency.

Hama Rashid continued in his speech to Al Jazeera Net that this process means withdrawing the current currency denominations and printing new ones, which requires huge funds to print them with technical specifications necessary to protect the currency from counterfeiting, in addition to the fact that replacing the currency will destabilize the monetary system, which may cause successive collapses, enslaving that The Central Bank of Iraq takes such a step.

A member of the Finance Committee, Jamal Cougar, agrees with this proposition by confirming that this step is excluded in the next two years at the very least for several considerations, as he believes that deleting zeros is an unworkable step, especially that changing the currency exchange rate led to a shock to the Iraqi street, and therefore Iraqis are not Prepare for another shock.

In an exclusive interview with Al-Jazeera Net, Cougar points out that the Iraqi economy does not have its own decision, and that many countries benefit from the current Iraqi currency in buying and selling transactions and others.

Cougar: The lower the number of currency numbers, the greater its strength among currencies in the economic perspective

What are the benefits?

 As for the benefits, Cougar believes that the smaller the number of currency numbers, the greater its strength among currencies in the economic perspective. However, this requires strengthening the local economy inside the country and diversifying the sources of the Iraqi budget, which requires strengthening industry and agriculture as a preliminary condition for this step.

And about the extent of the benefit derived from this change in restoring the Iraqi cash block hoarded by the Iraqis or smuggled abroad, he explained that the international deal in the Iraqi currency is not related to the number of zeros as much as it relates to the strength of investments inside the country and the size of the Iraqi product exported abroad.

Cougar gives an example of this: Turkey, which deleted zeros from its currency years ago, has embarked on building a diverse and large economy and investments, and this is different from the Iraqi situation, whose currency is not found in global currency exchanges so far.

On the other hand, Abdul Rahman al-Mashhadani, a professor of economics at the Iraqi University, believes that deleting zeros will save the state the costs of transferring the Iraqi currency between the central bank and government and private banks.

Al-Mashhadani continues in his speech to Al-Jazeera Net that deleting zeros may lead to a decline in Iraqis' demand for the dollar for the sake of hoarding, as the Iraqis currently keep the dollar for ease of preservation, while preserving the same value in the Iraqi currency requires greater storage capacity, pointing out that this is conditional on printing cash denominations. A new denomination with a value higher than what is currently available was to print a denomination of 200 dinars (equivalent to 200 thousand dinars in the current currency), which requires 4 banknotes of a denomination of (50 thousand).

Al-Shamaa believes that deleting zeros from the currency will not do anything for the Iraqi economy

Who is the loser?

 In every economic equation, the profit and loss ratio is calculated, which is what the economist Hammam Al-Shamma points out that this ratio will not be equally present in the equation, warning of psychological disturbances in the Iraqi market in the event of zeros being deleted.

Al-Shamma comments to Al-Jazeera Net, "Deleting zeros from the currency will not provide anything for the Iraqi economy, but rather it will cost the Iraqi state huge money to print a new currency without this having a clear impact on the local economy."

Al-Shammaa points out that the competitiveness of Iraqi goods against the imported ones will not witness a positive change inside the country, especially since international transactions are mostly made in US dollars.

This is confirmed by Abdul Rahman Al-Mashhadani, professor of economics at the Iraqi University, and adds that competition with imported goods depends on the local product and its strength, pointing out that Iraq does not have industries that can compete with imported goods and overcome them in terms of quality, price, and state protection for them, according to him.

Returning to Ahmed Hama Rashid, where he believes that deleting zeros from the currency will not be in the interest of the government currently, inferring that Iraq has 80 trillion Iraqi dinars from multiple monetary categories, and that printing 5 trillion dinars from the category (50 thousand) cost the Iraqi government 60 million dollars At that time, the cost of the rest of the denominations will be much greater, given that printing each denomination costs approximately (6 US cents) on average, according to him.

Who is the winner?

 In contrast to the losing party, Al-Shammaa believes that the government may derive limited benefits from deleting zeros, which is that the government and the central bank will face fewer problems in the accounting system and final accounts with limited zeros and small accounting numbers.

The last proposition is consistent with what was revealed by the economic advisor to the Prime Minister that the hyperinflation that hit the Iraqi economy in the nineties of the last century added 3 numbers to the Iraqi monetary unit, while the small categories disappeared from circulation completely, as the category (250 dinars) became smaller.

 A monetary unit in daily circulation inside the country, which raised the cost of micro-transactions, as well as the inflation caused by the appearance of the huge numbers circulating in the accounting system inside the country.  LINK

Clare:  AWESOME TO SEE THIS!!! ..........THIS IS EXACTLY WHAT WS & FRANK TOLD US TO EXPECT!!
A FEW WEEKS AGO!!! Imo   THANK SAMSON!

"Sunday News " Posted by Samson at KTFA 7-11-2021

KTFA:

Samson:  Kurdistan announces receipt of 200 billion dinars from Baghdad

11th July, 2021

The Ministry of Finance in the Kurdistan Region announced, on Sunday, that it has received 200 billion dinars from the federal government.

The ministry said in a brief statement that Mawazine News received a copy of it, that "within the framework of the implementation of the agreement between Kurdistan and Iraq, the first amount of 200 billion dinars was placed by the federal government in the account of the Ministry of Finance and Economy of the Regional Government in the Iraqi Central Bank / Erbil branch."  LINK

Finance Minister: The white paper will set the main steps for preparing budgets for the coming years

11th July, 2021

Minister of Finance, Ali Abdul Amir Allawi, confirmed, on Sunday, that the white paper will set the main steps for preparing budgets for the coming years.

A statement by the ministry, which Mawazine News received a copy of, stated that "the Minister of Finance, Ali Abdul Amir Allawi, chaired, today, at the ministry's headquarters, a session to follow up the implementation of the reform projects of the "white paper" in the presence of the Executive Director of the Economic Reform Committee Alaa Al-Saadi and the Undersecretary of the Ministry Taif Sami Advisers to the Minister of Finance and the general directors of the ministry.

The statement added that "the meeting discussed the reform axes identified by the white paper represented by the public financial management and financial information systems, as part of its steps, which are among the important steps to achieve sustainable financial stability and give an opportunity to achieve other structural reforms."

He continued, "The meeting discussed the implementation of the integrated financial information management system project, which will contribute to increasing the speed of electronic communication for the ministry and the rest of the ministries in order to provide accurate information and will enhance the oversight role on financial accounts and not exceed the financial appropriations established in the budget, in addition to facilitating the process of implementing the program and performance budget."

The minister said, "The application of the financial management system and the information management system will enhance the state's access to the necessary funds and control government spending, which will lead to spending these funds efficiently and effectively in accordance with the state's financial policy."

Allawi indicated, "The continuing follow-up to the content of the white paper to reform the financial and economic affairs, which will set the main steps for preparing budgets for the coming years."

LINK

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

Samson:  Kurdistan Region suspends official working hours on July 14

10th July, 2021

According to the official holidays of the Kurdistan Regional Government, work hours in departments and institutions will be suspended for one day during this week.

According to the schedule, the regional government suspends official working hours on the 14th of July of each year on the occasion of the founding of the Iraqi Republic.

The Iraqi Republic was established following the July 1958 movement , which overthrew the Iraqi kingdom, where King Faisal II was king of Iraq.   LINK

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

Samson:  The Secretariat of the Council of Ministers will suspend the official working hours next Wednesday

11th July, 2021

The General Secretariat of the Council of Ministers announced, on Sunday, an official holiday next Wednesday, on the occasion of the founding of the Republic of Iraq.  

The secretariat said in a document issued by it, which (Al-Oula News) obtained a copy of (July 11, 2021), “We inform you that Wednesday, July 14, 2021, is an official holiday on the occasion of the founding of the Republic of Iraq in accordance with the official holidays law in force, with the exception of security, health and service departments and institutions.“     LINK

Samson:  Kurdistan announces the first day of Eid al-Adha

07/10/2021 09:31:15

The Ministry of Endowments and Religious Affairs in the Kurdistan Region announced that Tuesday, July 20, is the first day of Eid al-Adha.

The ministry said in a statement that {Euphrates News} received a copy of it, that "July 19 is the day of standing on Mount Arafa, and the following day will be the first day of Eid al-Adha."

And the Supreme Court in Saudi Arabia announced that today, Saturday, is the completion of the month of Dhu al-Qa’dah for the year 1442 AH, and that next Sunday, July 11, is the first day of the month of Dhu al-Hijjah for the year 1442 AH, after it was not possible to see the crescent of the month of Dhu al-Hijjah yesterday evening Friday.   LINK

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

Samson:  An unprecedented collapse.. 2 million Lebanese pounds for only $ 100

11th July, 2021

The exchange rate of the dollar on the black market continued to rise to an unprecedented extent against the Lebanese pound, on Sunday, July 11, 2021, as it recorded 2 million pounds against the 100 dollars.

This rise forced many owners of commercial establishments to close their doors for fear of selling their goods at a loss and for their inability to purchase new goods at the new exchange rate.

It is likely that the dollar exchange rate will continue to rise, especially after information indicated that Prime Minister-designate Saad Hariri may apologize for forming a government.

Because of the continuous rise in the dollar exchange rate and as a result of the deteriorating economic and living conditions, protesters blocked roads in a number of Lebanese regions.

Demonstrators blocked the road at Martyrs' Square with burning tires in the southern city of Sidon.

Others blocked the road in front of the city’s electricity company with waste containers, in protest against the total power cut two days ago in all the city’s neighborhoods, which was reflected in the rationing of drinking water, in addition to the collapse of the living and economic situation, the rise in the dollar exchange rate and the price hike.

The people of Markaba town, south of Lebanon, staged a sit-in in front of the water station on the town's main road, lit tires, and blocked the road for some time, before reopening it in protest against the water cuts and the difficult economic conditions.  LINK

Saturday Night KTFA CC with Frank26 and Team "The Power" 7-10-2021

KTFA:

FROM FRANK:  GREETINGS FAMILY....TONIGHT I WILL DO A UB2B @7PM EST.  (See Below)

WHERE I WILL PLAY A RECORDING TO TAKE OUR KTFA FAMILY TO THE NEXT LEVEL. I'VE INVITED MM & PETRA, TO DISCUSS THE INFORMATION WE ARE ABOUT TO RELEASE.

YOU DON'T WANT TO MISS WHAT WE HAVE TO SHARE TONIGHT BECAUSE IT WILL HELP YOU UNDERSTAND OUR NEXT MONDAY CC...IF NEEDED.......FRANK26

**********

Saturday Night KTFA CC

Frank26:  7-10-21……THE POWER

Special guest “Iceman”

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=bLN217bHHuE

KTFA Members "News and Views" Friday 7-9-2021

KTFA:

Samson:  Parliamentary Finance recommends electronic customs linking of imported goods to dollars

9th July, 2021

Today, Friday, the Finance Committee in the House of Representatives recommended linking a customs electronic tax for imported goods with the Central Bank of Iraq.

The head of the committee, Haitham al-Jubouri, said in an interview with the Iraqi News Agency and followed by "Economy News", that "the committee does not have data on the volume of imports carried out by the Ministry of Trade or the Ministry of Planning, but the central bank is responsible for those transactions that are submitted to it."

Al-Jubouri stressed that “the committee demanded that there be an electronic customs and tax link with the Central Bank in order to be sure that the goods for which the dollars are given will enter actual goods through the outlets in exchange for them,” noting that “the currency auction is an offer and demand and so far the price is appropriate and the banks in the remittances, they did not make a large profit, but rather some of them are exposed to a loss if the operating budget you make is taken.”

Al-Jubouri explained that "the Finance Committee hosted the Minister of Finance and the Governor of the Central Bank to find out the monetary and financial measures taken by the government to address the repercussions in the light of which the exchange rate change was approved."  LINK

ATPinfinity:  THIS ARTICLE IS FULL OF MYSTERIOUS IMPLIED MECHANISMS and intrigue!

"Today, Friday, the Finance Committee....recommended linking a customs electronic tax for imported goods with the Central Bank of Iraq."

"....to address the repercussions in the light of which the exchange rate change was approved."

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

Samson:  Parliamentary Agriculture announces the disbursement of 244 billion dinars to farmers within two days

9th July, 2021

The head of the Parliament’s Agriculture, Water and Marshlands Committee, Salam Al-Shammari, announced on Friday the disbursement of 244 billion dinars as dues to wheat farmers for the current year during the next two days

Al-Shammari said in a statement, seen by "Al-Iqtisad News", "The outputs of farmers for strategic crops will also be supported by adding an amount of 50 thousand dinars, which was included in the federal budget earlier

Al-Shammari added that "meetings will continue with officials in the Ministry of Finance until all the obstacles that prevent farmers and farmers from receiving their financial dues are resolved

The Presidency of Parliament assigned the head of the Parliamentary Committee on Agriculture, Water and Marshes to chair the committee to follow up on farmers' entitlements  LINK

Jay:  Axis 2, Section 2 of Iraq's "White Paper". Get'er done Iraq!

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

Samson:  Iraq is building the largest submerged tunnel in the Middle East linking the ports of Umm Qasr and Al-Faw

9th July, 2021

Iraq has begun work on Khor Al Zubair to construct what will be the largest submerged tunnel in the Middle East. The underwater tunnel will contain six lanes and a separate emergency lane, and will be used to transport cargo and goods from around the world.

The tunnel is being built to boost export capacity, but its completion will depend on securing financing for the project.

The 2.5-kilometer tunnel project was awarded to South Korea's Daewoo Engineering & Construction in 2019 at a cost of $86 million.

But Daewoo and Technetal, an Italian company tasked with overseeing the construction and design, said completion of the project depends on the state commercial bank issuing a letter of credit, a document that guarantees payments to foreign companies.

“We are here to build the submerged canal tunnel which is the first in the Middle East, we are doing some kind of restoration in the prefabrication yard for the future project,” says Chief Engineer at Technital Bersano Fernando, adding that this project has a “timing with a time frame of 20 months.”

Once completed, the submerged tunnel will connect Iraq's two main commodity ports, Umm Qasr and Al-Faw, which is also being constructed by Daewoo, to the country's highway network.

Iraq's ability to import and export is significantly restricted because there is only one major commodity port.  LINK

Samson:  Are Lebanon's banks heading towards closing? .. A pre-disaster warning

8th July, 2021

The Association of Banks in Lebanon warned against compromising the mandatory reserve in the Central Bank, and vowed legal measures to stop it.

After the meeting of the boards of directors of Lebanese banks, the association stressed that the mandatory reserve constitutes an integral part of customers' deposits with banks, as the association previously explained in its letter to the Governor of the Banque du Liban on April 1, 2021

The association held the state responsible for draining bank deposits with the Banque du Liban during the past years, and that the continuation of these behaviors will eliminate some of the capabilities that may contribute to the economic and financial revival when the government is formed and the economic wheel is launched in cooperation with international financial institutions and countries supporting Lebanon. Hours after his election, the head of the Association of Banks in Lebanon opens fire on the government

Lebanon supports the poorest families with a financing card... a mysterious project

The statement issued by the Association’s Directorate of Information and Public Relations added: The Association holds the Bank of Lebanon responsible for violating the mandatory reserve and submitting to pressures exerted on it by the political authorities, contrary to the wording and spirit of the Monetary and Credit Law, where the purpose of the mandatory reserve is limited to the needs of the banking sector.

She pointed out that the reduction of the mandatory reserve rate in currencies requires the Banque du Liban to return the liberated amounts to the depositors who have the right to them. It is not permissible to use the amounts released recently as a result of reducing the rate from 15% to 14% for subsidy purposes. We hope that such a trend will not be repeated. The statement concluded: The association is currently studying the measures that can be resorted to to prevent compromising the mandatory reserve by the state or the central bank

Employees' union: Close the banks

 On the other hand, the Executive Council of the Syndicate of Banks Employees issued a recommendation to take a decision to stop work. And she said in a statement, “Let the banks close, hoping that other institutions will follow suit, and let us all abide by the homes, and let the rulers rule the stone and closed doors, or speed, and in a few days to take the necessary action, stressing that excessive positivity in some circumstances such as the one we are going through today leads to uncalculated negatives on the home level

After the meeting of the Executive Council of the Syndicate of Banking Employees, Head of the Syndicate of Banking Employees, Asad Khoury, addressed the departments and the Association of Banks, saying that the dismissal processes against our colleagues, which are approved by some departments individually, will be confronted by all means

And he demanded that wages be corrected after they had eroded and their purchasing power became less than 10% of what we were before the fall, and that negotiations for a collective labor contract that was afflicted by a defect in most of its aspects were afflicted by the crisis, compared to the assessment that was acceptable and somewhat balanced at the date of its signing. In addition, the Association of Banks called for unifying standards regarding the application of the circulars issued by the Banque du Liban

On the other hand, he called on officials to start, within a few days, the formation of a government of independent specialists, as stated in the French initiative, and to go to the International Monetary Fund and the World Bank.

He called for rebalancing the pension, especially for those who reach retirement age in this deadly crisis, specifically before raising the minimum wage and increasing the percentage that was eroded with the insane rise of the dollar exchange rate, and we have many solutions if the authority fails to find them

LINK

KTFA Members Thursday Afternoon 7-8-2021

Dinar Recaps: Our prayers and condolences to Eagle1’s friends and family. May he rest in peace.

KTFA:

Frank26:  GREETINGS FAMILY ..........IT IS WITH A HEAVY HEART THAT I REPORT TO YOU THAT JUST A FEW HOURS AGO OUR BROTHER IN CHRIST REGNER ALSO KNOWN AS EAGLE1 HAS GONE HOME TO BE WITH OUR HEAVENLY FATHER.

PLEASE KEEP HIS WIFE AND FAMILY IN YOUR PRAYERS.

WE WILL MISS YOU BROTHER REGNER BUT IN THE BLINK OF AN EYE.......WE WILL BE WALKING WITH YOU ON THOSE STREETS OF GOLD BUT UNTIL THEN...........WE REMAIN STRONG IN CHRIST FOR OUR SALVATION AS WE SEEK THE GLORY AND GRACE OF GOD UPON US....................................AND THE GOLDEN ROAD OF GOD'S PATH FOR OUR LIVES...........AMEN. FRANK26

Don961:  Abdul-Hussein: The Iraqi economy has gone through several stages, which made it rentier and dependent on oil

Abdul Hussein: There is an increase in population growth by 3% annually and our resources are limited
Abdul-Hussein: The white paper included analyzing and diagnosing economic problems and identifying effective solutions

Abdul-Hussein: We are working with the various ministries to identify projects for the official announcement of the actual implementation of the White Paper

Abdul-Hussein: Very soon, the implementation of the white paper will actually be announced

Abdul-Hussein: There are central and sub-committees to implement the white paper

Abdul-Hussein: The projects included in the white paper are of a professional, not political, character

Abdul-Hussein: The continued rise in oil prices is almost able to bridge the budget deficit

Abdul Hussein: Reducing the dollar exchange rate is unlikely because it was approved in the budget link

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

Don961:  The Iraqi government decides to reduce the exchange rate of the dollar

Posted 54 seconds ago 10,513 Policy 2021/07/07
22:58 Baghdad today - Baghdad

Today, Wednesday, the economic advisor to the Prime Minister, Alaa Abdel Hussein, ruled out decreasing the dollar exchange rate because it was approved in the budget.

Abdul-Hussein said, in a televised statement, followed by (Baghdad Today), that "the continuation of the rise in oil prices is almost able to bridge the budget deficit , " noting, " Over the past decades, Iraq has suffered from economic problems, as the Iraqi economy has gone through several stages of what Make it rentier and dependent on oil.”

He pointed to "an increase in population growth by 3% annually, and our resources are limited," noting that "the white paper included analyzing and diagnosing economic problems and identifying effective solutions, as the government is working with various ministries to identify projects for the official announcement of the actual implementation of the white paper."

He stressed, "The announcement of the actual implementation of the white paper will be soon, as there are central and sub-committees to implement the white paper, which includes projects of a professional and not political nature." LINK

Samson:  Experts: The implementation of the white paper needs an appropriate economic environment

7th July, 2021

An advisor to the Federal Prime Minister revealed that the white paper will be effectively implemented, while experts stressed the need to create an appropriate economic environment before the implementation begins. 

The Iraqi News Agency quoted the Prime Minister's economic advisor, Alaa Abdul Hussein, as saying that "the white paper included analyzing and diagnosing economic problems and identifying effective solutions," noting to work "with the various ministries to identify projects for the official announcement of the actual implementation of the white paper," stressing "very soon."

The actual implementation of the white paper will be announced," he said, noting that "there are central and sub-committees to implement the white paper," noting that "the projects contained in the white paper are of a professional, not political, character."

For his part, the head of Iraqi businessmen, Daoud Abdul Zayer, stressed that the white paper needs an economic environment, take decisions and issue legislation to improve this environment. 

In an interview with PUKmedia, Daoud Abed Zayer said that today, Thursday, "the economic approach found in the white paper needs an investment economic environment and requires decisions and some legislation to improve this environment," noting that "there are problems diagnosed and solving them through the white paper requires work, After this work is done, the results are visible."

He added, "When we say we start, what do we start with? We have a non-economic environment and there is extravagance, corruption and misplaced support, and we need to amend some laws, and on this basis the results of the white paper will appear." 

He believes that squeezing government spending and bringing it to sufficiency of government revenues is the white paper that the state was supposed to adopt, and not on the basis of receiving oil revenues and converting it into operational and spending budgets, stressing that a plan was supposed to be drawn up to curb government and operational spending as much as internal resources and adopt On oil resources in developing the national economy through major projects that absorb unemployment and graduates.

For his part, head of the Media Center for Media Development, Adnan Al-Sarraj, believes that the white paper did not take sufficient space for explanation and discussions. 

Al-Sarraj said in an interview with PUKmedia, that the white paper is an attempt by Prime Minister Mustafa Al-Kazemi and his economic and financial team, as he presented it from the first day he took over the premiership, noting that this white paper did not take sufficient space for explanation, discussions and in-depth studies by economic specialists, whether In Iraqi universities, research centers, or at the level of international studies, to compare them with other experiences. 

He added that he did not fully disclose the terms of the white paper, and ambiguity is the dominant position in the interpretation of the white paper, and some of the items that were announced were subjected to severe criticism from other powers, in addition to the lack of comprehensiveness of the white paper with the time limit and the nature of international relations and other measures.  He added that there were attempts to link the white paper to the processes of changing the value of the dinar against the dollar, issues related to housing, and areas related to supporting the retired and the poor, and others, but this was not in the way that the citizen aspires to. 

On October 14, 2020, the Federal Council of Ministers approved new mechanisms for economic reform called the "White Paper", which he said includes "hundreds of measures to revive the Iraqi economy" and invest the country's "enormous resources" in a "scientific way". And the government spokesman at the time, Ahmed Mulla Talal, announced that the white paper extends to 100 pages, and its implementation period is supposed to be 3-5 years.  LINK

KTFA Members "News and Views" Wednesday Afternoon 7-7-2021

KTFA:

Samson:  The Central Bank encourages the use of renewable energy in Iraq

7th July, 2021

In line with international commitments towards reducing greenhouse gas emissions, the Paris Climate Agreement and reducing fuel uses, the Central Bank of Iraq decided to work to encourage the adoption of energy production tools from renewable sources, and to work with the Higher Committee for Lending to ensure the processing of a proportion of the electrical energy generated from renewable energy sources (solar panels). ) in the investment housing complexes benefiting from the initiative.

In addition to coordinating with the Industrial Bank to finance the purchase of electricity generation systems from the sun for the homes of citizens or projects, and in order to provide part of the electrical energy required by the work of the Central Bank, it decided to acquire electrical power generation systems and install them on its buildings in Baghdad and its branches.

The Central Bank encourages all authorized banks and institutions wishing to equip clean energy systems to interact with this trend and present their offers and expertise to this bank and the rest of the state institutions and the private sector.

Central Bank of Iraq  
Media Office
July 7, 2021  LINK

Samson:  The Central Bank of Jordan and The Arab Monetary Fund announces the inclusion of the Jordanian Dinar as a settlement currency in BUNA

6th July, 2021

The Jordanian Dinar is the fourth Arab currency to join Buna’s payment system, raising the total number of settlement currencies in Buna to six

Participant banks can now use the Jordanian Dinar in their cross-border payments

H.E Dr. Ziad Fariz says: “We look forward to seeing the Jordanian banks actively participating to increase the cross-border usage of JOD and benefit from the transformational value of Buna Platform"

H.E Dr. Al Hamidy says: “The inclusion of the Jordanian Dinar to Buna’s list of settlement currencies is key in realizing Buna’s strategic objectives”

 Abu Dhabi, 6 July 2021 (10 am Abu Dhabi time): The Central Bank of Jordan (CBJ) and the Arab Monetary Fund (AMF) announced today the inclusion of the Jordanian Dinar as a settlement currency in Buna (the cross-border payment system owned by the AMF), and the signing of an agreement enabling Buna to execute cross-border payments in Jordanian Dinar.

The Jordanian Dinar is the fourth Arab settlement currency to join Buna’s payment platform, which includes so far, the UAE Dirham, the Saudi Riyal, the Egyptian Pound in addition to the US Dollar and the Euro. This milestone comes in line with Buna’s constant efforts to expand its growing and diversified list of Arab and International currencies and strengthen its position as the payment system of choice across the Arab world.

Commenting on this event His Excellency Dr. Ziad Fariz, Governor of the Central Bank of Jordan said: “Including Jordanian Dinar in Buna demonstrates the kingdom’s continuous support to strategic initiatives in the Arab world and clearly articulates the importance of Jordanian Dinar as a key Arab currency for cross-border trade and remittance payments."

Dr. Fariz also added “the Central Bank of Jordan and the Arab Monetary Fund share mutual interests in developing the financial infrastructure in the region and create substantial added value to the Arab banking community and citizens, we look forward to seeing the Jordanian banks actively participating to increase the cross-border usage of JOD and benefit from the transformational value that Buna brings to the banking community and to the Arab economies.”

His Excellency Dr. Abdulrahman A. Al Hamidy, Director General Chairman of the Board of the Arab Monetary Fund, expressed his appreciation and gratitude to His Excellency the Governor of the Central Bank of Jordan for his constant support to facilitate the inclusion process. His Excellency also praised the great efforts and continuous cooperation of the dedicated team in the Central Bank of Jordan to realize this strategic partnership. 

H.E Dr. Al Hamidy said: “We highly thank the Central Bank of Jordan for its strong belief in Buna’s vision to support the growth of the Arab economies, and the strategic role that we can play in serving the needs of the banking and financial sector in the region and beyond for an efficient centralized, multi-currency, risk controlled, and secure payment system. The inclusion of the Jordanian Dinar to Buna’s list of settlement currencies is key in realizing Buna’s strategic objectives to facilitate trade and remittance activities across the Arab countries and with key global trade partners, support investment ties, and promote regional integration, by encouraging the usage of Arab currencies in cross-border payments and different economic activities”.

Buna, is a cross-border payment system owned by the Arab Monetary Fund, aiming to enable financial institutions and central banks in the Arab region and beyond to send and receive payments in local currencies as well as key international currencies in a safe, cost- effective, risk-controlled, and transparent environment.

Buna offers participants modern payment solutions that comply with international standards, principles, and compliance requirements. Thanks to its cross-border payment system, Buna contributes to exploring and strengthening opportunities for economic and financial integration in the Arab region and supporting investment ties with the global trading partners.

Buna welcomes the inclusion of all banks that meet the criteria and conditions for participation, primarily the standards and procedures of compliance aspects.   LINK

ATPInfinity:  IRAQI DINAR IS NOT YET ONE OF THE 6 CURRENCIES ON BUNA!!!!!!!!   COME ON #7..THE IRAQI DINAR DROP 3 ZEROS=#7 @BUNA

"The Jordanian Dinar is the fourth Arab settlement currency to join Buna’s payment platform, which includes so far, the UAE Dirham, the Saudi Riyal, the Egyptian Pound in addition to the US Dollar and the Euro."

ALL THE IRAQI NEWS LATELY HAS BEEN, U.S., EUROPE, SAUDI, UAE, EGYPT AND JORDAN!

"Buna’s strategic objectives to facilitate trade and remittance activities across the Arab countries and with key global trade partners,........constant support to facilitate the inclusion process."

Samson:  Commerce reveals the launch date of the Karbala International Comprehensive Exhibition

7th July, 2021

The General Company for Exhibitions and Commercial Services at the Ministry of Commerce announced, on Wednesday, that the holy governorate of Karbala will witness the launch of its comprehensive international exhibition for the period from 12-23 July. 

The Director General of the Exhibitions Company, Sarmad Taha Saeed, confirmed that “this exhibition will be held on the grounds of the sports hall in Al-Hussein neighborhood, which is organized by the Ishraqat Point of Hope Company for General Trading, and will witness a distinguished international participation,” noting that “the exhibition will open its doors from three in the afternoon until midnight.” 

He pointed out that "the exhibition is a great opportunity for the participating companies to display their products in the Iraqi market, which is considered one of the most promising markets, in addition to opening up to Iraqi businessmen and traders to obtain exclusive agencies from these companies, and there will be a discount of up to fifty percent of the participating companies."   LINK

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

Samson:  Parliamentary Finance reveals: No dinars were returned to the Iraqi treasury through the “Anti-Corruption” campaign

7th July, 2021

Member of the Parliamentary Finance Committee, Representative Abdul Hadi Al-Saadawi, confirmed, on Wednesday, that no dinar will be returned to the Iraqi treasury through the anti-corruption campaign

Al-Saadawi said, "We support any real anti-corruption campaign that ultimately yields positive results, including the recovery of the looted money to the country's treasury, but what is happening now is that the campaign is a war on paper and came to media marketing

Al-Saadawi added, “Any dinar has not been recovered and returned to the treasury of Iraq, although the looted money is very large,” noting that “the country’s economy cannot rise without a real fight against corruption, which represents a major obstacle to any steps to build a strong national economy that invests its capabilities in the presence of natural resources.” It is a huge thing that can change the situation of the country significantly   LINK

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

Samson:  Al-Kazemi’s advisor sets a condition for dealing with financial abundance from high oil prices

6th July, 2021

Advisor to the Prime Minister, Alaa Abdel Hussein, set, today, Tuesday, the date for repaying the loans, while indicating that the government can only dispose of the financial abundance from the rise in oil on a condition.

Abdul-Hussein said, "The improvement in oil prices in the global market is positive for the economies of the oil-producing countries, especially those that depend largely on oil in their budgets," noting that "the interest that Iraq derives during this year from the increase in oil prices will contribute to covering the budget deficit of 29 to 30 trillion dinars, if prices continue in this way until the end of the year.”

He added, "In the event that the price of a barrel of oil exceeds $77, this will contribute to achieving an abundance that is not very large, but will contribute positively to the state's general budget for the next year and will help the Iraqi government with the issue of repaying the loans on it."

Abdul-Hussein stated that "the current oil levels will provide, from now until the end of the year, surpluses that will help Iraq in the budget and achieve a financial abundance that the government cannot dispose of, except through a supplementary budget," ruling out "organizing a supplementary budget within the current data, but this abundance may be Next year, the government will help to repay the loans.”   LINK

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

Samson:  America delivers a strongly worded message to Iraqi figures: Our military response is close

7th July, 2021

On Wednesday, American diplomatic parties delivered a strongly worded message to specific Iraqi political figures, through government sources, after the bombing of Erbil International Airport and Ain Al-Assad base, by armed Shiite factions.

A government source told Shafaq News Agency, that the message included that Washington will have a close military response to armed factions involved in launching attacks against US interests and targets in Erbil and Anbar.

The international coalition announced that 3 people were injured in an attack with 14 missiles targeting the "Ain al-Assad" base in western Iraq, earlier today, Wednesday. Today's attack is the second of its kind, as the base was attacked with 3 Katyusha rockets last Monday. Also, yesterday evening, Tuesday, Erbil International Airport was attacked by a booby-trapped drone, without causing any damage.

It also comes a few days after US raids were launched on Iranian-backed factions' sites on the Syrian-Iraqi border, "in response to attacks by drones launched by those factions on Americans and American installations in Iraq."

About fifty attacks have targeted US interests in Iraq since the beginning of the year, including the US embassy in Baghdad and Iraqi military bases that include Americans, and the Baghdad and Erbil airports, as well as logistical convoys of the international coalition, in attacks often attributed to groups loyal to Iran.   LINK

Monday Night Frank26 CC " Know When to Hold 'Em- Know Why to Fold 'Em" 7-5-2021

KTFA

KTFA Monday Night CC : 

Frank26:  7-5-21…….KNOW WHEN TO HOLD ‘EM…………….KNOW WHY TO FOLD THEM

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

Frank’s team is Walkingstick, Petra, MilitiaMan and Eddie in Iraq.

Playback Number: 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=As5IByZUaKg