KTFA Members "News and Views" Sunday 8-1-2021

KTFA:

Samson:  Planning reveals the details of the "responsive" document and the reform and recovery plan tomorrow

08/01/2021 17:25:46

  The Ministry of Planning announced that it will reveal tomorrow, Monday, the details of the "responsive" document and the reform and recovery plan for the period 2021-2023.

  And the ministry’s spokesman, Abdul-Zahra Al-Hindawi, said in a statement that {Euphrates News} received a copy of it that “Minister Khaled Battal Al-Najm will announce tomorrow, Monday, 2/8-2021, the details of the responsive document, and the reform and recovery plan, for the period 2021-2023, which it has completed. The ministry, in cooperation with relevant ministries and authorities, and with the support of the United Nations Development Program (UNDP).

He added, "The announcement will be made during the conference held by the Ministry of Planning at nine thirty in the morning tomorrow, at the Babel Hotel, in the presence of a number of ministers, representatives, governors, deputy ministers, representatives of the private sector and civil society, as well as representatives of international organizations operating in Iraq."  LINK

OlLar:    This sounds significant!

Samson:  Iraq drops one rank in the list of the largest gold reserves in the world

1st August, 2021

The World Gold Council announced, on Sunday, that Iraq fell one rank among the world's reserves of the precious metal, indicating that Japan bought the largest amount during the first quarter of this year.

The council said in its latest schedule for the month of August of 2021, which was reviewed by (Al-Oula News), that "Iraq sold 100 kilos of gold, and its possession became 96.3 tons, after it was 96.4 tons, which represents 9.1% of the rest of its other reserves."

He added, "Iraq has not bought gold since September of 2020, when it bought a small amount of 0.1 tons, while it bought 6.5 tons in September 2018." He explained that "Iraq fell one rank to become 39th globally out of 100 countries listed in the table with the largest gold reserves in the world," noting that "Brazil managed to purchase 41 tons during the past month, to raise its rank from 42 to 32 globally." 

He pointed out that "the United States of America still ranks first in the world's largest gold reserves with 8,133 thousand tons, followed by Germany with 3,359 thousand tons, while Yemen was bottomed with 1.6 tons, preceded by Haiti by 1.8 tons."   LINK

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Samson:  A new prison sentence against the former director of the Agricultural Bank in Maysan

1st August, 2021

The Maysan Criminal Court / First Commission announced that it had issued a new three-year prison sentence against the former director of the Agricultural Bank, according to Article (340) of the Penal Code.

The Supreme Judicial Council stated in a statement that Mawazine News received a copy of it today, Sunday, that "the number of sentences issued by the court against the convict amounted to six, including a total of 33 years in prison in accordance with the provisions of Articles (340-316) of the Penal Code, for Forgery and embezzlement of funds.   LINK

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Samson:  Member of the Finance Committee: The 2021 budget will be passed without a deficit in this case  31st July, 2021   LINK

ATPInfinity:  GREAT NEWS HERE!! The 2021 budget will be passed OR RATHER, COMPLETED,(  its implementation ) without a deficit..(DUE TO $70 OIL!) Our situation is economically secure (S+S=RI)

Ryan1216:  Great but I thought the 2021 budget was already passed.  

Dotalktome:  There are riders on budget

DeepWoodz: IMO  First, let’s not forget these guys fixed the price of oil at what $43-$45 in the budget. Now it’s at $75. They always act like they are broke. Doesn’t matter how high it gets, they will talk it down. 

On the translation of passed. We all know they passed the budget months ago and as Godlover likes to point out, we have never “heard” them talk of opening it. Hmmm...I still don’t know about that.
This article appears to use passed as in go beyond the 2021 to the 2022 budget which will be on the agenda for the NEW and hopefully improved Parliament after 10/10 as they have stated they will NOT postpone the elections. 

I don’t pick dates, but for Iraq’s best interest, it would make sense that IF Kadhimi plans on running, and I believe he will because he is a patriot, the rate has been raised as per boss man F26 and will definitely be revealed to the international community well in advance of the elections to insure a second term for Special K. 

Peace out

Samson:  The launch of the seventh batch of the full-time employee's salary last July

08/01/2021 18:05:03

The Persons with Disabilities Authority announces the release of the seventh batch of the full-time employee’s salary for the month of July this evening, Sunday, 1-8-2021.

The head of the Commission for the Care of People with Disabilities and Special Needs in the Ministry of Labor and Social Affairs, human rights defender Ahmed Hadi Baniya, announced the release of the seventh batch of the full-time employee’s salary for the month of July 2021 in Baghdad and the governorates this evening.

The head of the authority said that the authority has completed all the procedures related to releasing the full-time salary of the recipients previously, calling them to go to the exchange outlets to receive their financial dues starting from this evening, noting that there is another supplement to salaries that will be launched during the next few days after the completion of the necessary administrative and financial procedures.

He stressed that the commission has developed a new work strategy that requires releasing the salary of the full-time appointee according to a fixed schedule and known timings, specifically between the 20th to the 25th of each month, and if necessary, release it before distributing the salaries of the commission’s employees, knowing that the governorate departments were authorized to release the suspended salaries directly without reference. In order to provide a decent life for this important segment of society.   LINK

MilitiaMan:  Interesting they are launching the same time lines for payments of financial dues, as they are for electronic submission of loans. imo ~ MM

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DeepWoodz:  GOI has pledged to the WTO a certain percentage of their local currency(or value) upon an upgrade to an active member.

 Iraq’s currency needs to be tradeable.

 Observer status to member status sponsored by USA. Sponsored at 1:1.

Article 8 and received $1 billion grant from WB.  For the 5 governorates!

 Dr. Shabibi, when will you raise the value of your currency? When we have security and stability.

 Iraq has been paying off debts.

 IMF says time for digital accounting QFS.

 Perfect eye for the perfect storm!!!

CBI reserves are immune. Protected. Untouchable.

 Paying our debts in DINARS!!

 Eddie’s been learning the BLUEPRINTS from the education CAMPAIGN! A weekly series has already begun!!! Imo

 Let’s reform all our BANKS!

 WHAT HAPPENED in the HIGH LEVEL meeting between IMF & CBI??? We shall soon find out!!!

 Thank you for your hard work Frank and family.   

ATPInfinity:  SUMMARY FROM DEEPWOODZ IS SPOT ON

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Samson:  Adviser to the Prime Minister: No country can seize Iraq's money.. and this is the fate of 2028 bonds

08/01/2021 14:39:28

 Adviser to the Prime Minister for Economic Affairs, Mazhar Muhammad Salih, confirmed that no country can reserve Iraq's money abroad.

  Salih told {Euphrates News}, "The debts owed by Iraq are non-sovereign commercial, and no country has ever seen that it complained about another country due to the great value of sovereignty."

He added, "It is not possible to seize the funds of Iraq or any other country, which are debts of goods before the year 1990, as a settlement was agreed upon before 2006, when Iraq issued a bond for large debts of more than 35 billion dollars."

He pointed out, "The issuance of {Iraq 2028} bonds, and so far they are being dealt with, the bonds have reduced the value of debts to 18 billion dollars, and they are repaid over 20 years at an interest rate of 20%." Saleh stressed that "the United States supports Iraqi economic security and cares about it to a great extent."

The Central Bank of Iraq, announced last July 27, that “the legal authorities in the United States of America confirmed to the Governor of the Central Bank that all the reserves and funds of the bank are fortified and no party can seize them, and also confirmed that they will defend their immunity with the rest of the countries and this cannot be compromised.” reserves".

And the central bank said in a statement that "Iraq will complete during the coming period the full payment of the compensation and benefits accruing from it before 2003, this will lead to the lifting of the international immunity of Iraq's money abroad and it will be subject to implementation by some creditors from other parties and companies."

He pointed out that "those legal authorities confirmed that the funds and reserves of the Central Bank of Iraq are protected under the laws followed in the United States of America, and pledged to defend what is available from them in the central banks and banks in other countries."  LINK

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MilitiaMan:  I will let everyone take a peak at the data from the IMF.  I find it very interesting and timely.. ~ MM

https://www.imf.org/en/News/Articles/2021/03/23/pr2177-imf-execdir-discuss-new-sdr-allocation-us-650b-boost-reserves-help-global-recovery-covid19

https://allafrica.com/stories/202107290941.html

https://www.sundaymail.co.zw/imfs-special-drawing-rights-can-transform-zim

"Vietnam News" Friday 7-30-2021 Posted at KTFA

KTFA:

Samson:  US removes tariff threats against Việt Nam

25th July, 2021

The Office of the US Trade Representative (USTR) on Friday issued a formal determination in the Việt Nam Currency Section 301 investigation, under which the agency will not take any tariff action against Việt Nam.

A statement by the USTR said the move reflects the agreement reached earlier this week between the US Department of the Treasury and the State Bank of Việt Nam (SBV).  The determination finds that the agreement between the US Department of the Treasury and SBV provides a satisfactory resolution of the matter subject to investigation and that no trade action is warranted at this time. The USTR, in co-ordination with the US Department of the Treasury, will monitor Việt Nam’s implementation going forward, it said. 

US Trade Representative Katherine Tai commended Việt Nam for its commitment to addressing the US's concerns with its currency practices and setting an important example for the Indo-Pacific region.  American workers and businesses are stronger when their partners value their currency fairly and compete on a level playing field, she said, adding that in coordination with the US Department of the Treasury, the US will work with Việt Nam to ensure implementation, and will continue to examine the currency practices of other major trading partners. 

Earlier this week, the US Department of the Treasury and SBV reached an agreement to address the US’s concerns about Việt Nam’s currency practices.

A joint statement by the US Department of the Treasury and SBV said that SBV Governor Nguyễn Thị Hồng and US Secretary of the Treasury Janet L. Yellen held a virtual meeting to discuss the issue. The US Department of the Treasury and SBV have had constructive discussions in recent months through the enhanced engagement process, and reached an agreement to address the US Department of the Treasury’s concerns about Việt Nam’s currency practices as described in the US Department of the Treasury’s Report to Congress on the Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the US.

Việt Nam confirmed that it is bound under the Articles of Agreement of the International Monetary Fund (IMF) to avoid manipulating its exchange rate in order to prevent effective balance of payments adjustment or to gain an unfair competitive advantage and will refrain from any competitive devaluation of the Vietnamese đồng.

SBV is also making ongoing efforts to further modernise and make more transparent its monetary policy and exchange rate framework. SBV will continue to provide necessary information for the US Department of the Treasury to conduct thorough analysis and reporting on SBV’s activities in the foreign exchange market in the US Department of the Treasury’s Semiannual Report to Congress on the Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the US.   LINK

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Samson:  Việt Nam joins global peers in developing digital money

26th July, 2021

Việt Nam is playing catch-up in a global race to develop its own digital currency and experts believe this will not only help the country develop new technology but also present an opportunity for Việt Nam to join the most technologically-advanced countries.

The Prime Minister last month endorsed the strategy for developing e-Government towards digital Government in the 2021-25 period. In Decision 942/QĐ-TTg issued on June 15, the State Bank of Việt Nam (SBV) is assigned to research the pilot use of 'virtual money' based on blockchain technology in the next three years.

This is a remarkable change in the Government’s policymaking given the reality that Việt Nam has not yet recognised cryptocurrencies. So far, the central bank has repeatedly emphasised that owning and trading Bitcoin and other cryptocurrencies is risky for investors as these coins are not protected by law. Virtual currency is a new concept in Việt Nam. There are many different and confusing names in the market such as virtual money, electronic money, digital currency and cryptocurrency.

According to Investopedia, digital currencies can be considered a superset of virtual currencies and cryptocurrencies. Digital currencies can be regulated or unregulated currency that is available only in digital or electronic form. If issued by a central bank of a country in a regulated form, it is called the Central Bank Digital Currency (CBDC).

If existing in an unregulated form, it should be called virtual currency and may be under control of the currency developers instead of a centralised regulator. Cryptocurrencies are also an example of this type. Bitcoin and ethereum are the most popular cryptocurrencies. To date, Việt Nam’s law has no specific definition of virtual currency and virtual assets. Current regulations only refer to the concept of electronic money (e-money) which is pegged to a fiat currency and exists in the form of pre-paid bank cards, e-wallets or mobile money.

SBV has repeatedly affirmed Bitcoin and other virtual currencies are not electronic money and cannot perform the function of a legal currency as a means of payment. Currently, SBV, the Ministry of Justice and the Ministry of Finance (MoF) are studying the legal basis for managing virtual currency and virtual assets. MoF has also set up a research group on this issue.

While most experts agreed the central bank should clarify the concept of virtual money in the latest Decision 942, finance specialist Nguyễn Trí Hiếu said the “virtual” word can lead to negative thinking as it has been associated with fraudulent projects spreading in the media. “I think the central bank may use the concept of digital currency or cryptocurrency to reflect the intrinsic value of this form of money,” Hiếu told Việt Nam News.

Catching up 

More than 60 central banks across the world are exploring and actively developing their own digital currencies to modernise financial systems as well as counter a possible threat from cryptocurrencies, according to PwC. Last year, The Bahamas became the first country to launch a central bank digital currency (CBDC) nationwide.

Among major monetary authorities, China is the front-runner in the global race to launch CBDC and is testing a digital yuan, or e-CNY, in several cities. Meanwhile, the European Central Bank is planning to introduce a digital euro within the next five years. The United States lags behind in its own research but the US Federal Reserve has said it is more important to get its approach right rather than leading the pack.

In Việt Nam, SBV seemed to be hesitant in building a legal framework for digital currency. Last year, SBV proposed a pilot regulatory sandbox for fintech companies but did not mention digital currency. “Việt Nam is relatively slow in starting to research digital currency but it’s also not too late. Digital currency is an inevitable trend for a digital future,” Hiếu said.

While major currencies of the US, EU and Japan have had great influence in the global currency basket and international trade. Hiếu said issuing digital currency of small countries like Việt Nam would lift its position in the new global financial system which will be reshaped in the future with the rapid development of technology. “The world is entering the digital economy era. Along with the development of Industry 4.0, AI, 5G, this is a challenge for Việt Nam but also an opportunity to rise in the ranks of advanced countries with the most developed technology,” Hiếu said.

Huỳnh Phước Nghĩa, Deputy Director of the Institute of Innovation (University of Economics HCM City), also said in many issued policies, Việt Nam has identified technology as key for future development. This policy is backed by the strong development of e-commerce and online payments. “The rate of non-cash payments is on the rise in Việt Nam. The issuance of digital currency could also help accelerate this process,” Nghĩa was quoted as saying on thanhnien.vn.

Vietnamese people are predicted to be ready to accept digital money. Việt Nam ranked second in terms of crytocurrency use among 74 surveyed economies by Statista in 2020.

In Decision 942, the Government also focuses on prioritising research and development of some core technologies in which Việt Nam has advantages such as QR codes, artificial intelligence (AI), blockchain, virtual/augmented reality (VR/AR) and Big Data, facilitating deployment of digital Government. “However, this is also a big challenge for the SBV as this is an infant and new market and there is no real experience in the world to refer to,” Hiếu said, noting new issues such as concepts, how to store digital money and put it in circulation, building electronic systems, national networks and ensuring information security all need to be developed comprehensively.  LINK

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Samson:  Việt Nam welcomes US decision not to take trade action against Việt Nam

25th July, 2021

Việt Nam has welcomed the decision of the United States Trade Representative (USTR) not to take trade action in connection with the investigation into Việt Nam’s currency policy, spokesperson for the Vietnamese foreign ministry Lê Thị Thu Hằng said on Saturday. 

The USTR Office on July 23 issued a formal determination in the Việt Nam Currency Section 301 investigation saying the agreement reached between the US Department of the Treasury and the State Bank of Việt Nam (SBV) provides a satisfactory resolution of the matter subject to investigation and no trade action is warranted at this time. 

Responding to reporters’ question about the decision of the USTR, the spokesperson said it is a positive step following the agreement reached on July 19 between the SBV and the US Department of Treasury. 

She stressed that it is also thanks to the outcome of constructive dialogue with good will by both sides to address outstanding problems in bilateral economic ties, towards building a stable and sustainable relationship in the spirit of the comprehensive partnership between Việt Nam and the US.     LINK

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Samson: 2021 Vietnam Annual Economic Report launched

30th July, 2021

The 2021 Vietnam Annual Economic Report entitled “Repositioning Việt Nam in the Global Dynamics” was unveiled on July 29 by the Vietnam National University - University of Economics and Business. 

The report analyses Việt Nam’s competitive edge based on its advantages and engagement in the global supply chain.  It also touches on the adverse impacts of COVID-19 on the global economy at large and Việt Nam in particular.

The report has been released annually by the university in association with its affiliate the Vietnam Institute for Economic and Policy Research (VEPR) for 12 years. 

This year, exports and public investment are projected to become a driving force for the Vietnamese economy. With influxes of foreign investment into Việt Nam, exports in the sector will have an important role to play for economic growth in upcoming years.  However, the growth rate of exports may strongly rely on the global economy recovery and shipments of traditional commodities, experts warned.

Based on results obtained in the first six months and the complexities of the pandemic, the VEPR believes that the economic growth in the remaining months will depend on efforts in COVID-19 prevention and control, vaccination speed and scale and efficiency of support packages, among others. The institute also put forward growth scenarios for the remaining months.

If the pandemic is brought under control in late third quarter and Việt Nam reaches herd immunity in the second quarter of 2022, and the economic growth is projected at 4.5 – 5.1 per cent.  In other scenario, the pandemic is controlled in the next months and herd immunity is reached by Q1 2022, the national economy may expand between 5.4 per cent and 6.1 per cent.

If economic activities will not be able to resume by the fourth quarter of this year, Vietnam may see an economic growth rate of 3.5-4 per cent.   LINK

Some "Friday News" Posted by Samson at KTFA 7-30-2021

KTFA:

Samson:  “Untouchable" .. New government reassurance on Iraq's money abroad

07/30/2021 08:45:29

  The Prime Minister's Advisor for Financial and Economic Affairs, Mazhar Muhammad Salih, reassured Iraq's money abroad.

 Saleh told {Euphrates News}, "Iraq is a dollar area because oil revenues are in dollars, and the Kuwait war compensation is deducted from the mechanism of accounts of the Federal Bank in New York and since 2003 until today the mechanism is sound

He added, "Any lawsuits raised by commercial creditors in the foreign private sector, and most of them are related to the previous regime." He pointed out that "most of the debts ended with the Paris Agreement of 2004 in liquidating the Iraq indebtedness, and as long as Iraq's money remained open in the name of the Central Bank of Iraq.

Saleh stressed that "international banks respect the customs among themselves, and there was no incident of creditors seizing the money of any bank." He stressed that "Iraq is economically protected under international agreements

And the Central Bank of Iraq had announced last Tuesday, that "the legal authorities in the United States of America to the Governor of the Central Bank that all the reserves and funds of the bank are fortified and no party can seize them, and also confirmed that they will defend their immunity with the rest of the countries and these reserves cannot be compromised

And the central bank said in a statement that "Iraq will complete during the coming period the full payment of the compensation and benefits accruing from it before 2003, this will lead to the lifting of the international immunity of Iraq's money abroad and it will be subject to implementation by some creditors from other parties and companies.

He pointed out that "those legal authorities confirmed that the funds and reserves of the Central Bank of Iraq are protected under the laws followed in the United States of America, and pledged to defend what is available from them in the central banks and banks in other countries   LINK

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Samson:  Kurdistan Region appeals to the world after America returns 17 thousand artifacts to Iraq

30th July, 2021
Iraqi antiquities specialists in the city of Sulaymaniyah in Kurdistan Region welcomed on Friday the return of 17,000 antiquities from the clay figure from the United States to the country.

The United States of America handed over to Prime Minister Mustafa Al-Kazemi 17 artifacts during his recent visit to Washington, which he ended yesterday and returned to Baghdad, bringing with him these priceless antiquities.

In this regard, the Director of the Department of Antiquities of Sulaymaniyah, Kamal Rashid, told Shafaq News, that this is a great achievement for the Iraqi Antiquities Foundation, and with the efforts of the Iraqi Embassy in Washington and its continuous attempt to return the Iraqi antiquities that were stolen and looted from Iraq during the American invasion. He added, "I hope that this step will be a catalyst for the rest of the countries that have illegally stolen Iraqi antiquities and return them to their original homeland in the service of Iraqi civilization and human civilization in general."

In turn, the director of the Sulaymaniyah Museum, Hashem Hama Abdullah, praised the return of these antiquities, and said in a statement to Shafak News Agency, "We are pleased with this important civilized work, and it is a gesture from the efforts of the current government and institutions concerned with Iraqi antiquities and culture. Through this work, Iraq confirms the return of Iraq to its true sovereignty, and presented His civilization is in its motherland and not in other countries.” He added that the return of these antiquities will stimulate tourism by displaying important artifacts in museums, as well as a qualitative leap for Iraq to be in the advanced centers in the number of artifacts and their presentation compared to other countries.

Al-Kazemi directed, earlier today, the reopening of the Iraqi Museum in the capital, Baghdad, to the public and researchers. Al-Kazemi said in a tweet to him on the social networking sites "Twitter", "In conjunction with the return of 17,000 Iraqi artifacts with our delegation, which ended a successful visit to Washington yesterday, we directed the reopening of the Iraqi Museum to the public and researchers, to be a new beginning to inspire our ancient civilizational values, and our identity. authentic patriotism, and educating our generations with the sciences, cultures, and achievements this land has provided.”LINK

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Samson:  US report: Let it be remembered.. This is what will happen after the 2022 withdrawal from Iraq

30th July, 2021

While experts and analysts in the Middle East are wondering whether ending the combat role of the United States in Iraq will negatively affect American counter-terrorism operations against the extremist remnants of ISIS in Syria, American officials have not announced, until now, any change in the military mission in northeastern Syria.

"Voice of America" ​​radio, in a report translated by Shafak News Agency, stated that "about 900 American soldiers provide support to the Kurdish-led (Syrian Democratic Forces) as part of a major coalition in the fight against ISIS."

The war against ISIS in Syria

And the American radio quoted the researcher in Syrian affairs, Sadr Al-Din Kino, who follows the military developments in the country, as saying that "separating the American military mission in Syria from the one in Iraq is difficult."

Kino added, according to the report, that "unlike the situation in Iraq, the US military presence in Syria was not at the invitation of the Syrian government," noting that "this fact makes Iraq enjoy an important position for the United States to successfully implement its mission in Syria." Kino considered, "The Syrian Democratic Forces are a non-state actor, and therefore it is imperative for the United States to rely on an allied government in Iraq to ensure that its operation in Syria remains robust in terms of logistics and other issues related to transportation of supplies."

On Monday, US President Joe Biden announced that US forces would end their combat responsibilities in Iraq by the end of this year. After a meeting at the White House with Iraqi Prime Minister Mustafa Al-Kadhimi, Biden said that US forces will continue to train, assist, and deal with ISIS as it emerges. Currently, there are about 2,500 American soldiers in Iraq, and Biden did not mention the number of those who will remain in Iraq during 2022. And the radio indicated in its report, that "the US military does not link its operations in Iraq with Syria, but the Pentagon treats its participation in Syria as part of the broader global effort to fight ISIS."

Kurdistan Region

The radio also quoted Nicholas Heras, a senior analyst at the New Lines Institute for Strategy and Policy in Washington, as saying that "the US military effort in Syria depends in particular on the continued presence in the Kurdistan Region of Iraq." And the radio clarified, according to Heras, that "the United States has a large military base in Erbil, and it has become one of the most important staging areas in the Middle East." Speaking to Voice of America, Heras said that "the lines of communication and ground support from Kurdistan to northeastern Syria are the most important for the continuation of US operations to support the Syrian Democratic Forces," pointing out that there are no "indications of the United States withdrawing from its base in Erbil."

In response to a question from "Voice of America" ​​whether the Iraqi government will continue to allow US forces to use Iraqi bases to support their operations against ISIS in Syria, Iraqi Foreign Minister Fouad Hussein said that "the US military forces in Syria enjoy a special status, and Iraq is not involved in that". And the Iraqi minister had said, last Monday, during a press conference in Washington after the meeting with Biden and Al-Kazemi, that "Iraq always discusses with the Americans the presence of ISIS in Syria, because its presence there clearly constitutes a threat to Iraq as well." As for Tennessee State University professor Kermanj Gundy, who writes about Kurdish regional politics, he says that in addition to the impact it will have on the war on ISIS, “any change in the status of the presence of US forces in eastern Syria could have political repercussions on American interests in the country.” 

Withdrawal encourages the Iranians

And if the decision to end the US combat mission in Iraq leads to "changing the current US presence in Syria, it will certainly embolden Iran and its allies in Syria, as well as endanger the partners of the United States," Gundy said. In recent months, US bases in Syria have been subjected to several attacks that Washington blamed on Iranian-backed militias, and US bases in Iraq, including the one in Erbil, were targeted with missiles fired by Iranian-backed groups.   LINK

Samson:  Brookings: Iraq without American support is heading to a darker place, and Al-Kazemi's alternative would be "bad"

30th July, 2021

The American "Brookings Institution" has published a report on the future of American forces in Iraq and the destabilizing threats posed by ISIS and Iraqi militias allied with Iran, in light of the economic crisis and the need for major political reforms, and Prime Minister Mustafa Al-Kazemi's efforts to address them, and on the decisive role of the United States as for the future of Iraq, Al-Kazemi is trying to play the role of "bridge builder" in the region, with the support of his allies in Baghdad and Erbil.

Details need clarification

The Brookings Institution report, which was translated by Shafak News Agency, included; An interview with the prominent researcher Rang Alaeddin, who spoke about the recent agreement between Al-Kazemi and US President Joe Biden on the end of the combat mission of American soldiers in Iraq, and said, "There are still a number of details that should become clearer over time," recalling that an announcement had been issued. Similar also under the Donald Trump administration. However, Aladdin said, "The main announcement during Al-Kazemi's visit to the White House is that the United States will move completely, and I emphasize a word in full, to move to training, advice, assistance, and intelligence sharing, with the combat forces out of the country by the end of the year".

Political pressure

Aladdin considered, "This is the actual statement," noting that an essential part of it stems from "the political pressure that Al-Kazemi is subjected to in Iraq on the home front," adding that relations between the United States and Iraq have increasingly eroded, and reached their lowest levels since the nineties, He recalled that under the previous US administration, even former President Trump threatened to impose sanctions on Iraq in response to the repeated attacks on US targets by Iraqi groups that are proxies of Iran.

Complicated situation

The researcher in "Brookings" said that in the presence of the current administration, the Iraqis hope that this administration will adopt a more sensitive and moderate approach towards their country, and that it will understand more that the security situation in Iraq is linked to the domestic political dynamics in Iraq, and therefore within this equation, discusses Iraqis about the status and presence of US forces.

But Aladdin noted that all of this has become complicated because Iraq is so dependent on the United States in the campaign to defeat ISIS, adding that this issue represents "the core of the relationship itself" as relations between Washington and Baghdad "are particularly important because of the continuing threat posed by ISIS." ISIS," noting that the organization, despite the defeat it suffered, "has proven its ability to withstand to some extent" and continues to "expand the rule of terrorism" in some areas of Iraq. "This is why the United States is so important to Iraq's efforts to prevent this from happening," he added.

Al-Kazemi Transitional

Aladdin summarized the picture that has emerged since the Trump administration’s decision to assassinate Iranian General Qassem Soleimani and the leader in the Popular Mobilization Forces, Abu Mahdi Al-Muhandis, and the exit of Kata’ib Hezbollah to demand the withdrawal of US forces from Iraq, referring to the “non-binding vote” taken by the Iraqi parliament to demand the government work to expel the Americans. , with the support of the forces loyal to Iran.

Aladdin described Prime Minister Al-Kazemi as a "transitional prime minister," noting that the former prime minister "was actually expelled by the fierce protest movement that demanded more rights, human rights, accountability, reforms and an end to corruption," adding that the protest movement was attacked by Militias allied with Iran, where more than 600 people were killed and thousands wounded, have not been held accountable so far. He added that the violations committed by the militias, which continue on an almost daily basis, contribute to "undermining Al-Kazemi, tarnishing his reputation and creating an atmosphere conducive to the return of ISIS because it causes the emergence of grievances and polarization" in the interest of ISIS.

Breathing space

In sum, Aladdin considered that the purpose of his visit to Washington is "to try to obtain breathing space from the Americans, and to try to ensure that the United States does not respond to the continuous missile attacks and drone attacks launched by the militias allied with Iran on American targets in a manner that may be similar to the confrontational stance that they taken by the Trump administration."

Therefore, Aladdin considered that the bet is on a "proportional" American position, through "a response that does not plunge Iraq into another conflict, and at the same time, it can contribute to calming tensions in the region." He added that Al-Kazemi "is trying to carve out a role for himself, with the support of other political players in Iraq, whether the president or his allies in Erbil, a role through which Iraq can play the role of bridge-builder in the region, so that Iraq actually becomes a channel through which to calm tensions between Iran and its adversaries, as well as between Iran and the United States."

Existential crisis

On the challenges that Al-Kazemi faces internally, Aladdin said that Iraq’s crises are interconnected, whether they are threats from militias linked to Iran, or ISIS or not,” adding that the crises and broader geopolitical turmoil, or US-Iranian tensions, mostly refer to the economic crisis, which It is a quasi-existential crisis for Iraq."

Aladdin explained that Al-Kazemi took office first in order to hold early elections, and the hope is that the elections will allow for some political reforms and the entry of moderate and effective figures into state institutions who want to push Iraq towards recovery and consolidate and implement a culture of accountability, and secondly in order to address the economic crisis.

He added that "the economic crisis in particular was devastating and could become an existential crisis as a result of the drop in oil prices due to the epidemic, and the state can no longer afford the public sector salaries" in a country with a population of more than 30 million people and is expected to reach about 50 million in within a decade. He said, "To be fair to the government, there is a plan of some kind, known as the white paper that entered into force months after Al-Kazemi took office, and it is an ambitious scheme to some degree, but its implementation becomes more difficult, if not impossible, because of those interconnected crises that I refer to it", including the environment and security conditions.

Worst alternative

He added that Al-Kazemi is considered "a transitional prime minister, who is a compromise candidate, and has breathing space among the broader Iraqi public, and for them, it can be said that it could be the least bad option, because the alternative could be much worse." Aladdin explained that the much worse option, "may be a hard-line person or a prime minister linked to Iran, which was possible in the past, and it could become a de facto reality in the future, or in the very near future," adding that the alternative may be to repeat what it took place during the reign of the former prime minister, who is effectively "a carte blanche for Iran-allied militias to launch a large-scale crackdown on protesters and the wider public".

Darker place

The researcher concluded in "Brookings" by saying, "I believe that the United States has the ability to mobilize international support, whether that is from the governments of other countries, or from the World Bank and the International Monetary Fund, and to mobilize international support and resources for the recovery of Iraq's economy."

He pointed to the remarkable improvement that has been achieved since Al-Kazemi took office and since Biden took office, to some extent in Iraq's relationship with its neighbors, especially the Arab world, such as Jordan, Saudi Arabia and the UAE, noting that this could become a very important development for US-Iraqi relations during the era of Biden and Al-Kazemi.  He concluded, "I continue to believe that the United States is particularly crucial to Iraq's path to recovery. Without this support, even symbolic and material support, Iraq will be in a much darker place."  LINK

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Samson:  Economy of Peace after the War"... His Adviser: Al-Kazemi's visit is a turning point in Iraq's history

30th July, 2021
The Prime Minister's Adviser for Economic Affairs, Mazhar Muhammad Salih, considered Prime Minister Mustafa Al-Kazemi's visit to Washington a "keystone" turning point in the history of Iraq, after years of war.

Saleh told Shafaq News Agency, "The Prime Minister's visit details the transformation from the economies of war and conflict that Iraq experienced 18 years ago, to the end of ISIS and some difficulties, up to the transition to the economy of construction, reconstruction and peace."

He added that "Al-Kazemi's visit focused on building a peace economy for Iraq and the region," noting that "the current government's policy is a peaceful policy that aims to good neighborliness and benefit from the great powers, as the United States of America is a superpower and Iraq has strong relations with it."

Saleh pointed out that "there is a strategic framework agreement that will transform construction and reconstruction," noting that "the prime minister's call is a sincere one, no matter how unemployed and powerless the country is." He pointed out that "the United States is a great ally, friend and partner, and the partnership must move from wars and conflicts to building and reconstruction."

Al-Kazemi’s advisor concluded, by saying that Iraq will turn, according to those frameworks, to “construction and progress, especially since the region is now entering the economics of peace, and this is what the Iraqi government intends to do.”

Al-Kazemi had returned on Thursday evening to Baghdad, after concluding his visit in Washington, with agreements and understandings described as "historic", perhaps the most prominent of which was the end of the presence of combat forces on Iraqi soil by the end of this year.  LINK

KTFA Wednesday Night CC With Frank26 "S+S=RI 7-28-2021

KTFA Wednesday Night CC with Frank26:

7-28-21…….S + S = RI   (Security and Stability)

THIS WHOLE UB2B IS STRICTLY IN FRANK'S OPINION..........BUT YOU ALREADY KNOW THAT!

Includes special report from Eddie in Iraq.

Frank26: While nobody knows the date…we do know they are doing it right now.

Eddie: The visit to the US has been a success.

Frank26: When Kazemi went to Washington DC he met with the fab 4…..The World Bank is one of the fab 4 …along with the US Treasury and the IMF. They also met with the WTO is Wash. DC. Kaemi has been spending most all of his time working on the monetary reforms and the new exchange rate with the Fab 4. Lets see if the results of these meetings is as powerful as I think they were…..

(the Fab 4...the IMF, World Bank, U.S. Treasury, and the President of the USA...)

Frank26 : To be a member of the World Trade Organization Iraq has to have a tradable currency.

Eddie: According to the media…he CBI and the IMF will be meeting in Iraq soon….These meetings will be very, very important. This meeting is about to be announced….they have not met yet….but very soon.

Frank26: They already met in Wash. DC….and they will be telling you all soon what the meetings were about. And IMO that moment approaches us.

Petra:  IMF put them on a program rate. IMF told them to reduce their rate to 1450 from 1190. Now, IMF wil tell them....what Frank said. LOL

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=31pjRFPHP2Q

"Some Wednesday News" Posted by Samson at KTFA 7-28-2021

KTFA:

Samson:  The International Monetary Fund raises its forecast for global economic growth in 2022 to 4.9%

28th July, 2021

The International Monetary Fund raised its forecast for global economic growth next year by 0.5% to 4.9%, compared to 4.4% in previous forecasts

The Fund singled out the Saudi economy, with updated expectations, which included expectations of growth of 2.4% in 2021, down 0.5% from the expectations of April, and that the growth of its economy would double in 2002 to 4.8%, an increase of 0.8% from the expectations of April

At the level of the Middle East and Central Asia, the Fund expected the region's economy as a whole to grow by 4% in 2021, an increase of 0.3% from April's forecast, and to grow by 3.7% in 2022

According to the IMF's World Economic Outlook report, the report maintained its vision of the global economic growth rate for the current year at 6%, which is the same rate that the Fund expected in its last April report. The fund attributed the 0.5% increase in growth forecast for the general economy next year largely to the expected additional fiscal support in the United States, with associated repercussions for the global economy

Factors shaping the future of the global economy

The IMF report noted that the epidemic has taken a turn for the worse in some parts of the world since its April report, while the rapid rollout of a vaccine has helped reduce the number of cases rapidly in other regions. Economies diverge further, affected by differences in the pace of vaccine rollout and policy support. However; A smooth and lasting recovery is not guaranteed even in places where the infection appears to be under control

Although 35% of the population in advanced economies receives two doses of the vaccine; The share of vaccination in low-income countries represents less than half of that, and access to vaccines is the main line of defense on the road to global recovery, which we can see in two parts, the first of which is the return of economic activity to normal later this year, which may be in almost all advanced economies And the second section is those who are still dealing with the prospects of a re-emergence of infection and a high number of deaths due to the Corona virus, represented by the regions of southern Africa, which are now in the grip of the third wave, as well as parts of Latin America that are experiencing high levels of deaths with continuing fears in parts From South and Southeast Asia due to outbreaks of the Corona virus epidemic, according to the report   LINK

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Samson:  3,500 years old.. the United States returns to Iraq one of the "Gilgamesh" tablets

27th July, 2021

The US Department of Justice announced on Tuesday that the United States will return to Iraq an antique 3,500-year-old cuneiform tablet after it was found that it was "stolen cultural property" that was fraudulently introduced to the American art market.

The archaeological tablet made of clay and inscribed with cuneiform is part of the "Epic of Gilgamesh", which is considered one of the oldest literary works of mankind and narrates the adventures of a powerful Mesopotamian king in his quest for immortality.

An American art dealer bought this artifact in 2003 from a Jordanian family residing in London and shipped it to the United States without telling the US customs about the nature of this shipment. After the tablet arrived in the United States, the dealer sold it in 2007 to other dealers for $50,000, with a forged certificate of origin.

In 2014, the painting was bought at a price of $ 1.67 million by the Green family, who owns the Hobby Lobby chain of stores, known for its Christian activity, with the intention of displaying it at the Museum of the Bible in Washington. But in 2017, a museum curator expressed concern about the tablet's provenance after finding that the documents presented during its purchase were incomplete. In September 2019, police confiscated the artifact until Monday, when a federal judge confirmed its confiscation.

A Justice Department statement quoted Attorney General Jacqueline Casoulis, who is in charge of this case, as saying that Monday's decision "represents an important step towards the return of this world's literary masterpiece to its origin." In July 2017, the American judiciary ordered Hobby Lobby to return to Iraq thousands of artifacts dating back to the Mesopotamian era that had been illegally exported to the United States, in archaeological treasures, including other cuneiform tablets and ancient seals.

For his part, the Iraqi government spokesman, Hassan Nazim, told the official news agency, "Conscious" that the Iraqi delegation in America will bring with it, on Wednesday, 17,000 Iraqi artifacts.

Nazim, who is also the Minister of Culture, added that "this operation is the largest to recover Iraq's antiquities," noting that "Iraq is continuing to recover other antiquities from Europe and some Arab countries." 

Thousands of Iraqi artifacts were looted and lost their tracks, including 16,000 pieces from the Baghdad Museum during the US-led international forces' invasion of the country and its toppling of the former regime in 2003.

Iraq also suffers from the exhumation of antiquities by organized gangs that trade in antiquities and smuggle them outside the country, taking advantage of the lax state authority due to the unstable security conditions. Iraq has been working for many years to recover its looted antiquities by pursuing smugglers and antiquities auctions around the world.  LINK

Samson:  Iraq and the Czech Republic move to stop a human smuggling network

28th July, 2021
The Iraqi and Czech governments discussed, on Wednesday, increasing coordination between them to stop a network smuggling Iraqis to Lithuania.

This came in a phone call received by Iraqi Foreign Minister Fouad Hussein from his Czech counterpart, Jakob Kolhanek, according to a statement by the Iraqi Foreign Ministry received by Shafaq News. Hussein stressed the "deepness of the historical relations between the two countries," calling for "bilateral cooperation in all fields."

The Iraqi minister praised "the positions of the Czech Republic in support of Iraq in its war against ISIS terrorist gangs, and economic cooperation", looking forward to finding new cooperation opportunities that would contribute to achieving the aspirations of the two countries. Hussein indicated that "Iraq appreciates the role played by the partners within the European Union to support the ongoing political process in Iraq."

During the call, the two sides stressed the "importance of strengthening cooperation in the field of migration and migrants," and the two ministers touched on the file of organized migration from Iraq to Lithuania and increased coordination between the two sides in order to reach common understandings to stop the smuggling network of Iraqis to Lithuania.  LINK

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Samson:  Al-Kazemi’s advisor: America’s visit is a new beginning for the transition from an economy of war to an economy of peace

28th July, 2021

Adviser to the Prime Minister Mazhar Muhammad Salih considered, Wednesday, July 28, 2021, the visit of Prime Minister Mustafa Al-Kazemi to the United States a new beginning for the transition from the economy of wars to the economy of peace, development and construction.

Saleh told Al-Masala, "Iraq suffers from a large deficit in investments for a number of reasons, and development has been limited to the energy and oil production sector and focus on electricity, as important and large productive sectors have been neglected, including industry, services and agriculture."

He added, "Iraq needs a new technological thought and new partnerships, and to invite the United States companies, which represent the largest economy in the world, to invest in Iraq, and it comes within the framework of the investment law to revive the effective and large Iraqi economy and reduce the volume of high unemployment."

He continued, "I think this step is a new page for the transition from the economy of wars, conflict and remnants of the past to an economy of peace, development and construction." He added, "America's role in investment, construction and reconstruction is an important turning point that must be worked on in the strategy of the relationship between Iraq and the United States, and the current openness is the first of its kind."

Prime Minister Mustafa Al-Kadhimi stressed, on Wednesday, during his meeting with the Businessmen Forum and the American Chamber of Commerce, that "the Iraqi government has taken bold measures towards real reforms in the economy, the most important of which is strengthening credit activity in the banking sector," noting: "We have started to address the weak infrastructure despite budget deficit, by encouraging private sector investments.

He added, "The government has proposed clean energy projects through competitive and transparent bidding, which resulted in attracting the largest international companies in the field of solar energy, and we are now in negotiations with the largest international companies to grant 7,500 megawatts in the field of solar energy during the next two years." He pointed out that "the government has begun to address the housing crisis through a package of measures, the most important of which is the initiative of government banks, and a number of private banks to offer low-cost and long-term loans to support the purchase of housing units, and this will also help encourage investment in the real estate sector," stressing that "this initiative helped to revitalize a number of stalled projects.

He added, "Corruption is being fought and state resources are preserved, and one of the most important measures is the cancellation of licenses in fake and lagging projects that are behind the mafias of economic and political corruption." And energy, and clean energy in particular, and we have launched strategic projects in the field of gas, and the investment of associated gas, in cooperation with American companies.”

He pointed out that "Iraq's doors are open to investment, and American companies in particular, and our vision is serious in relying on Western investments instead of others, and we need your cooperation in order to achieve this."  LINK

MilitiaMan Tuesday PM "A Program Rate Doesn't Cut It!" 7-27-2021

KTFA

Samson:  Immunity of Central Bank of Iraq funds abroad

27th July, 2021

The Legal authorities in the United States of America confirmed to the Governor of the Central Bank of Iraq that all the reserves and funds of the Central Bank of Iraq are fortified and that no party can seize them. They also confirmed that they will defend its immunity with the rest of the countries, and these reserves cannot be compromised.

As Iraq will complete during the coming period the full payment of the compensation and benefits accrued from it before 2003, this will lead to the lifting of the international immunity for Iraq's money abroad and it will be subject to implementation by some creditors from other parties and companies.

In this context, those legal authorities confirmed that the funds and reserves of the Central Bank of Iraq are protected under the laws followed in the United States of America, and pledged to defend what is in the central banks and banks in other countries.
Central Bank of Iraq
Media Office
27 July 2021
 
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The United States confirms the "immunity" of the reserves of the Central Bank of Iraq: its funds cannot be seized

28th July, 2021

The Central Bank of Iraq announced, on Tuesday, that its funds are "fortified" by an American decision, "and no party can seize them."

The bank stated in a statement, that the legal authorities in the United States of America confirmed to the Governor of the Central Bank of Iraq that all the reserves and funds of the Central Bank of Iraq are fortified and that no party can seize them.

The Governor of the Central Bank is accompanied by the Iraqi Prime Minister in the delegation in Washington.

The bank added, "Iraq will complete during the coming period the full payment of the compensation and benefits accrued from it before 2003, as this will lead to the lifting of the international immunity of Iraq's money abroad and it will be subject to implementation by some creditors from other parties and companies." He also added that those American legal authorities confirmed that the funds and reserves of the Central Bank of Iraq are protected under the laws followed in the United States of America, and pledged to defend what is in the central banks and banks in other countries.

And the UN Security Council, by its Resolution No. 1483, imposed protection for Iraqi funds and property abroad, especially the Development Fund for Iraq opened at the Federal Reserve Bank of New York, and it is the account in which Iraqi oil revenues are deposited, from which the Kuwait war compensation amounting to 5% of those revenues are deducted.

This account is managed by the Central Bank of Iraq as the financial agent of the Iraqi state, and there are additional guarantees issued by the US President to protect the funds of the Central Bank of Iraq in the United States from any prosecution that arises against the interests and funds of Iraq when it was subject to the provisions of Chapter VII under the supervision of the United Nations As a result of Saddam Hussein's regime's occupation of neighboring Kuwait.

Iraq sought to cancel its debts during the period of the previous regime’s rule, amounting to more than 120 billion dollars, some of which is due to compensation due to the wars it waged against its neighbors and others to countries and merchants, while the government demands some countries and merchants to pay their dues and threaten to file lawsuits in international courts against Iraq Import Fund.  LINK

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MilitiaMan:   These articles are supporting further evidence that they have the money to defend their currency. There is law that protects the funds of the central bank.

The debtors are creditors from the past have no law to support them suing effectively for past actions. Therefore the hundreds and hundreds of billions of dollars worth of assets that can be clawed back can be if not already or in progress used for the purpose of supporting the ability to defend their currency in the open market.

The gold that was found on the Syrian border of upwards of 40 tons when added back to reserves would be within or under the law too, imo.. So them having legal protection is a massive clue, as to where we are going and in short order.

The below tells us that there have done significant efforts to legislate prosecution of the corrupt which would be apart of the clawing back of assets.

From what we have seeing over the years, there is a lot of assets with massive implications from the return of said assets. All of which again supports the value of the Iraqi currency and will be noted in and during the implementation of the budget law.

All of which will supports Kahdimi for another term. He is coming home with antiquities!! The goods!! That is all about negotiations.

 Just as there would be negotiations with the WTO in respect to being ready for full ascension. The last part of being ready for ascension is hard negotiations. Well, same goes for antiquities. imo

Then there is the final meetings about economic partnerships. That means future business. Future business needs freedom of capital movement. That comes from being fully article 8 compliant. Thus, having an international rate of exchange is necessary. A program rate doesn't cut it. 

We know that FM Alawi had a meeting with Janet Yellen yesterday. The theory I have is that with what I see above is that meeting may have had implications to these partnerships. As in paring currency and or bonds.

Iraq has stated they are to activate the market in the second half of the year to which is now or shortly by issuing bonds. They said they have increase 360% in the first half of this year and that supports the move to issue bonds for the second half. I'll bet the topic was covered yesterday.

The discussions or negotiations may have been about currency swaps or even bond swaps, exchange rates attributed to them, digitization, etc... Time will tell.

We know the IMF has recently told us they increased the value of gold holdings at the IMF from $4.6 billion +- to $#168 billion +- from re calculating currencies retro active to January 1, 2021.

Similar to what is stated about the salaries and HCL payments. The payments are to be on cards. WE see today talk from Rafadain Bank. In my view that is digital money moving and when or if with a new system the money needs to be paired with similar currencies for global trade.

They have to be able to communicate or trade on a level playing field, cross border payments will require it.

One field that is supported by central banks around the world.  That appears to be in the forefront in or on many fronts now.  I like where we are in this.. ~ IMO ~ MM

A deputy discusses Barham Salih with legislation to prosecute the corrupt

27th July, 2021

Deputy Chairman of the Parliamentary Finance Committee, Muthanna Al-Samarrai, reviewed, on Tuesday, with the President of the Republic, Barham Salih, efforts to legislate the law to prosecute the corrupt, and the most important developments in the Salah al-Din Governorate.

Al-Samarrai said in a statement received by Mawazine News, a copy of it, that he "met President Barham Salih at the Peace Palace in Baghdad, during which a number of issues related to the legislation of laws, the work of the Parliamentary Finance Committee, early elections and the situation of Salah al-Din Governorate were reviewed."

Al-Samarrai explained, "He reviewed with President Saleh the efforts of the Finance Committee regarding its role in legislating the law to prosecute the corrupt and its continuation in holding meetings and carrying out its work without interruption, including monitoring and following up on the implementation of the budget law."

During the meeting, according to the statement, "the file of the early elections to be held on the tenth of next October and the preparations of the Electoral Commission, political blocs and popular activities for this entitlement were discussed."  LINK

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The Iraqi delegation headed by Al-Kazemi returns to Baghdad tomorrow with a huge amount of recovered antiquities

07/27/2021 20:10:20

Minister of Culture and Tourism and Antiquities Hassan Nazim in a televised interview:
 

17 recovery thousand archaeological pieces Iraqi from America, which is a number of mud within the Iraqi antiquities smuggled after 2003 and will be returned via the aircraft prime minister to Baghdad figure carrying cuneiform writing for trade exchanges in the Sumerian and replay civilization comes as a result within the work after long and intense negotiations, and after many months of negotiations,  it is the largest recovery operation of Iraqi antiquities and has importance to the Iraqis.

Tomorrow we will return to Baghdad and these antiquities will be returned on board the plane of the Iraqi delegation headed by the Prime Minister.  These pieces will be displayed in the Iraqi Historical Museum, and we will witness in the near future antiquities recovered from other countries that will be held during the coming hours will have an extensive meeting with influential political figures and American businessmen in Washington to discuss investment projects and economic partnerships between the two countries.  LINK

"Tuesday News" Posted by Samson at KTFA 7-27-2021

KTFA:

The United States confirms the "immunity" of the reserves of the Central Bank of Iraq: its funds cannot be seized

28th July, 2021

The Central Bank of Iraq announced, on Tuesday, that its funds are "fortified" by an American decision, "and no party can seize them."

The bank stated in a statement, that the legal authorities in the United States of America confirmed to the Governor of the Central Bank of Iraq that all the reserves and funds of the Central Bank of Iraq are fortified and that no party can seize them.

The Governor of the Central Bank is accompanied by the Iraqi Prime Minister in the delegation in Washington.

The bank added, "Iraq will complete during the coming period the full payment of the compensation and benefits accrued from it before 2003, as this will lead to the lifting of the international immunity of Iraq's money abroad and it will be subject to implementation by some creditors from other parties and companies." He also added that those American legal authorities confirmed that the funds and reserves of the Central Bank of Iraq are protected under the laws followed in the United States of America, and pledged to defend what is in the central banks and banks in other countries.

And the UN Security Council, by its Resolution No. 1483, imposed protection for Iraqi funds and property abroad, especially the Development Fund for Iraq opened at the Federal Reserve Bank of New York, and it is the account in which Iraqi oil revenues are deposited, from which the Kuwait war compensation amounting to 5% of those revenues are deducted.

This account is managed by the Central Bank of Iraq as the financial agent of the Iraqi state, and there are additional guarantees issued by the US President to protect the funds of the Central Bank of Iraq in the United States from any prosecution that arises against the interests and funds of Iraq when it was subject to the provisions of Chapter VII under the supervision of the United Nations As a result of Saddam Hussein's regime's occupation of neighboring Kuwait.

Iraq sought to cancel its debts during the period of the previous regime’s rule, amounting to more than 120 billion dollars, some of which is due to compensation due to the wars it waged against its neighbors and others to countries and merchants, while the government demands some countries and merchants to pay their dues and threaten to file lawsuits in international courts against Iraq Import Fund.  LINK

Gigi:  “The Governor of the Central Bank is accompanied by the Iraqi Prime Minister in the delegation in Washington.“  WOW

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Samson:  Immunity of Central Bank of Iraq funds abroad

27th July, 2021

The Legal authorities in the United States of America confirmed to the Governor of the Central Bank of Iraq that all the reserves and funds of the Central Bank of Iraq are fortified and that no party can seize them. They also confirmed that they will defend its immunity with the rest of the countries, and these reserves cannot be compromised.

As Iraq will complete during the coming period the full payment of the compensation and benefits accrued from it before 2003, this will lead to the lifting of the international immunity for Iraq's money abroad and it will be subject to implementation by some creditors from other parties and companies.

In this context, those legal authorities confirmed that the funds and reserves of the Central Bank of Iraq are protected under the laws followed in the United States of America, and pledged to defend what is in the central banks and banks in other countries.

Central Bank of Iraq
Media Office
27 July 2021   LINK

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Samson:  Theft of salaries for the police forces in Kifri district

27th July, 2021
The Director of Forest and Environment Police in Kifri district, Brigadier General Shwan Al-Jaf, reported on Tuesday that the salaries of employees in the Directorate of the Ministry of Interior in the Kurdistan Region had been stolen.

Al-Jaf told Shafaq News Agency, "After a financial committee went to receive salaries from the Ministry of Interior, and during its return, 39 million and 700, and 10 thousand were stolen from inside the car during the committee's rest in the restaurant."

He added that an investigation will be opened to reveal the identity of the thieves and arrest them. LINK

Samson:  Exxon is preparing to leave, and Baghdad wants an American alternative

27th July, 2021

Prime Minister Mustafa Al-Kazemi said that ExxonMobil is considering leaving Iraq for reasons related to its internal administrative practices and decisions, noting that his country wants another American company to replace Exxon when it leaves Iraq

Exxon, which appeared in 2019 to proceed with a $53 billion project to increase Iraqi oil production, is seeking to sell its 32.7% stake in West Qurna 1, one of Iraq's largest oil fields

Al-Kazemi told a small group of journalists in Washington after talks with President Joe Biden on Monday that ExxonMobil is considering exiting Iraq for reasons related to its internal administrative practices and decisions, not because of the situation in Iraq

Speaking through an interpreter, he added that when ExxonMobil leaves, Iraq will not accept an alternative but another American company

Al-Kazemi did not specify which US companies might be interested in the stake. Chevron also has operations in Iraq

Iraqi Oil Minister Ihsan Abdul-Jabbar had said in May that Iraq was considering buying ExxonMobil's stake in the West Qurna 1 field through the state-owned Basra Oil Company    LINK

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Samson:  Al-Halbousi: Iraq succeeds in achieving the strategic agreement with Washington

27th July, 2021

Parliament Speaker Muhammad al-Halbousi confirmed that Iraq has succeeded in achieving the strategic agreement with the United States of America.

Al-Halbousi said in a tweet to him, which was followed by the agency (Al-Oula News), today, Tuesday, that "Iraq is stepping confidently towards achieving its full capabilities, and today it is succeeding diplomatically and politically in completing the Iraqi-American strategic agreement within the requirements of the new phase and the requirements of the national interest."   LINK

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Samson:  The Iraqi delegation headed by Al-Kazemi returns to Baghdad tomorrow with a huge amount of recovered antiquities

07/27/2021 20:10:20

 The Minister of Culture, Tourism and Antiquities, Hassan Nazim, revealed that the Iraqi delegation headed by Prime Minister Mustafa Al-Kazemi will return to Baghdad tomorrow with a huge amount of recovered antiquities.

  Nazim said, in a televised statement, that 17,000 Iraqi artifacts will be recovered from America, which is a clay figure among the smuggled Iraqi antiquities after 2003 and will be returned via the Prime Minister's plane to Baghdad.

He added, "The number bears cuneiform inscriptions for commercial exchanges in the Sumerian civilization." And its return comes as a result within a long and arduous work, and after long months of negotiation, they returned it “the largest recovery operation of Iraqi antiquities and has importance to the Iraqis.

”Nazim announced “the return of the Iraqi delegation headed by Al-Kazemi to Baghdad tomorrow with these antiquities on the Prime Minister’s plane, and these will be presented The pieces are in the Iraqi Historical Museum, and in the near future we will witness antiquities recovered from other countries.”

The Minister of Culture concluded, “In the coming hours, an extensive meeting will be held with influential political figures and American businessmen in Washington to discuss investment projects and economic partnerships between the two countries.”  LINK

Samson:  Al-Fateh welcomes the agreement on the withdrawal of US combat forces from Iraq

27th July, 2021

The Al-Fateh Alliance announced, on Tuesday, its welcome to the Iraqi negotiator's agreement on the withdrawal of US combat forces from Iraq.

The Al-Fateh Alliance said in a statement, "We welcome the achievement of the Iraqi negotiator by agreeing to the complete exit of combat forces at the end of this year, which is a positive and advanced step towards achieving full national sovereignty."

The coalition expressed its hope for the concerned officials in the Iraqi state to "follow up the implementation of what was agreed upon in a practical way," expressing its thanks and appreciation to "the Iraqi negotiator for this national achievement."

Prime Minister Mustafa Al-Kazemi met, yesterday, Monday, with US President Joe Biden, in Washington, and they discussed several areas, including emphasizing the absence of American combat forces in Iraq by December 31, 2021.   LINK

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Samson:  Iraq and America agree to withdraw combat forces by the end of 2021

26th July, 2021

Iraq and the United States agreed to withdraw all American combat forces from Iraq by the end of this year 2021.

This came in the final statement issued on Monday evening of the fourth and final strategic dialogue round between the two countries.

The Iraqi delegation, Fouad Hussein, Minister of Foreign Affairs of Iraq, and the delegation of the United States of America, Secretary of State Anthony Blinken, chaired the fourth and final meeting of the Strategic Dialogue, which began on June 11, 2020, as part of the 2008 Strategic Framework Agreement for the Interstate Friendship and Cooperation Relationship United States of America and the Republic of Iraq. The Iraqi delegation included representatives of the Kurdistan Regional Government.

According to the final statement, the two parties reiterated the importance of these discussions, which focused on strengthening the long-term strategic partnership defined by the Strategic Framework Agreement, and on key issues of common interest: regional stability, public health, climate change, energy efficiency and independence, and issues related to humanitarian aid. And human rights, economic cooperation, cultural and educational exchange, and other topics. Iraq provided a detailed statement on its ongoing efforts to promote the safe and voluntary return of the displaced to their areas of residence, and the United States pledged to continue its support for these efforts.

The two delegations reaffirmed "the principles agreed upon in the Strategic Framework Agreement." The United States reaffirmed "its respect for Iraq's sovereignty and Iraqi laws, and pledged to continue providing the resources Iraq needs to preserve its territorial integrity."

The Government of Iraq reiterated its commitment to protect the members of the international coalition who provide advice and training to the Iraqi security forces, and confirmed that all the international coalition forces worked in Iraq at its invitation.

The two delegations also confirmed that the bases hosting the United States and other members of the international coalition are Iraqi bases that are managed according to the Iraqi laws in force, and not American bases or rules of the international coalition, and that the presence of international personnel in Iraq is only to support the government of Iraq in the war against the terrorist organization ISIS.

The two delegations agreed, after completing the discussions of the last technical teams, that the security relationship will move entirely to advice, training and intelligence cooperation, and there will be no presence of US combat forces in Iraq by December 31, 2021.

The United States intends to continue its support for the Iraqi security forces, including the Peshmerga forces, in order to build their ability to deal with threats, according to the final statement.

The two delegations affirmed their commitment to protecting human rights and basic freedoms, including freedom of the press, through full compliance with Iraqi legal procedures and constitutional guarantees that respect international norms and conventions on human rights. 

The two sides also affirmed that free and fair elections will support Iraq's sovereignty, democracy and development. 

The Iraqi side presented a detailed description of its plans, which aim to ensure the safety of voters, candidates, poll workers, domestic observers, civil society groups and international observers, and to enhance voter participation.

The two delegations expressed their appreciation for the support provided by the international community, as expressed in United Nations Security Council Resolution 2576 (for 2021). 

The two delegations also agreed that the presence of a monitoring team of the United Nations Assistance Mission in Iraq and an observer mission of the European Union represents a sincere effort by the international community to support the demands of the Iraqi government and the Iraqi people to hold free and fair elections next October. 

Iraq welcomed continued US support for the United Nations Assistance Mission for Iraq (UNAMI) and recent US financial contributions to the mission as election-related assistance, including contributions to the Election Observation Team.

The two parties agreed to continue to cooperate in working with international organizations and through relevant governmental institutions in both countries, particularly in light of the preparations for the United Nations Climate Change Conference at its twenty-sixth session, which will be held in Glasgow, United Kingdom, next autumn. 

The United States expressed support for Iraq's efforts to promote economic reform and regional integration, particularly through its commitment to regional energy networks with Jordan and the Gulf Cooperation Council.

The two delegations reiterated their determination to maintain and strengthen the strategic relationship between them, in all bilateral issues, in a manner that serves the national interest of each country in addition to their common interest represented in regional stability.

Iraq and the United States confirmed that they would resume their discussions through the coordination committees of the Strategic Framework Agreement.   LINK

KTFA Monday Night CC "CBI Quiet Before.....The Perfect Storm" 7-26-2021

KTFA:

KTFA Monday Night CC with Frank26 and team (A few highlights )

7-26-21…..CBI QUIET BEFORE……..THE PERFECT STORM

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

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

Frank26:  WHAT FRANK IS ABOUT TO TELL YOU.......IS HIS OPINION..........Iraq is being wined and dined and primed…..to be a very strong WTO member. Walkingstick and I would like to emphasize that it is the GOI that has pledged to the WTO …IMO The GOI has pledged to the World Trade Organization a certain percentage of the local currency of Iraq…dinars…. …AND They have pledged a certain value upon admission to the WTO. But take note…I think they already are. And I will stop right there.

Frank26: do you think the WTO want the Iraqi currency at a restricted, program rate??? To be in the WTO Iraqs currency needs to be tradeable…..So study what I just told you and get ready to read it in an article soon.

MilitiaMan:  I like this.. "EDDIE SAID THEY TOLD HIM THAT WHEN PM K IS DONE WITH THE WTO, THEY'RE GOING TO ADD VALUE TO OUR CURRENCY!" Eddie

MilitiaMan: Iraq is involved with the WTO..Agri is big!    there are meetings on agriculture this week with the WTO. The focus in July at the WTO in europe was agriculture related!!!

Petra:  And do you think the WTO will have them maintain their "observer" status with all those contracts sitting there waiting to enter????

MilitiaMan:  Petra, not a chance

MilitiaMan:  DROP the OBSERVER by Dropping 3 ZEROS

MilitiaMan:  GOI PLEDGED TO the WTO IFO A % of the Local Currency of Iraq with a certain value in a % of dinars upon admission to the WTO.

MT:  WOW!!!! so that would mean they are ready to release a true value on a percentage of their currency.. ???

GT:  WTO Don't want Iraq WITH A NON-TRADABLE CURRENCY to join their organization !!! NO WAY ....

JJ:  If the WTO gets IQD at Program Rate , then WTO gets the benefit of the "jump up" as IQD increases in value ........IMO ...........

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=ycbDsg51QDk

Some "Monday News" Posted by Samson at KTFA 7-26-2021

KTFA:

Samson:  After completing the fourth round of negotiations, the Iraqi military delegation returns from Washington

26th July, 2021

A government source reported, on Monday, the return of the Iraqi negotiating delegation headed by National Security Adviser Qassem Al-Araji, and Deputy Commander of Joint Operations Lieutenant-General Abdul Amir Al-Shamri, to the capital, Baghdad, after entering into negotiations with the US military leaders regarding the military withdrawal from the country.

The source said in an interview with "Mawazine News", that "the delegation was able to complete the fourth and final round of the strategic dialogue between the Republic of Iraq and the United States of America."

He added, "It is expected that a final statement will be issued on the meetings of the fourth round of the strategic dialogue, which may include a timetable for the withdrawal of US forces from Iraq at the end of this year."

It is noteworthy that Prime Minister Mustafa Al-Kazemi is visiting the United States, and he is scheduled to meet with US President Joe Biden at the White House today, Monday.   LINK

Samson:  Al-Furat Center discussed the repercussions of changing the exchange rate on the vulnerable groups in Iraq

24th July, 2021

Al-Furat Center for Development and Strategic Studies held its periodic meeting in its monthly series of forums under the title "The Repercussions of the Exchange Rate Change on Fragile Groups in Iraq" on Saturday 17/7/2021 in the presence of a group of professors, researchers and participants.

The forum began its activities with a research paper presented by Prof. Dr. Haider Hussein Al Tohme, researcher at the Center, which stated:

The financial pressures that the national economy was exposed to in 2020 prompted the Central Bank of Iraq to raise the exchange rate of the US dollar against the dinar from (1,182 = $1) to (1,450 = $1) on December 19, 2020. The Corona pandemic resulted in a sharp decline in the Oil revenues due to the collapse of oil prices to below (20) dollars per barrel in April of last year, and the consequent decline in oil revenues from nearly (6) billion dollars in January to less than (1.5) billion dollars in April, with a decline rate that exceeds (75%) As a result of the high expenditures of the Iraqi government, the government financial deficit widened and the Ministry of Finance was forced to borrow from commercial banks and re-discount loans with the Central Bank, for the purpose of paying salaries and financing other necessary expenses.

The decision to devalue the dinar was not appropriate in terms of timing or amount, as a monetary shock was added to the economic, financial and health shocks that afflicted the poor and fragile classes since late 2019 due to the demonstrations, the stagnation of economic activity, the collapse of oil prices and the outbreak of the Corona virus, especially with weak protection programs necessary to absorb the impact of the exchange rate shock on these classes.

Raising the dollar exchange rate has generated multiple economic and social costs, the most important of which is the loss of monetary stability, speculation on the dinar, and the weak environment incubating investment, as well as the decline in aggregate demand rates and the deepening of the existing economic stagnation as a result of the repercussions of the Corona pandemic. Also, the high exchange rate of the dollar in a country like Iraq that depends on imports to feed the local demand for various types of goods has generated inflationary pressures that reduced the real incomes of the middle and poor classes, especially with weak government control over traders and suppliers of various types of goods imported into Iraqi markets.

In 2020, the economic, social and health pressures on the poor and vulnerable classes in Iraq increased, for several reasons, including:

- Increasing inflation rates in Iraq to nearly 6% per month due to the deterioration of the value of the Iraqi dinar against the dollar.

The expected increase in unemployment rates in the country due to the repercussions of high prices and the suspension of many commercial and service activities in the country.

- Increasing poverty rates and the rate of vulnerability. The World Food Program (FAO) in Iraq, affiliated with the United Nations, revealed that the price of the food basket had risen to 14 percent after devaluing the local currency against the US dollar.

According to UNICEF, the poverty rate reached 31% for the year 2020 due to the Corona pandemic, compared to 20% in 2018, and that 42% of the population is classified as a vulnerable group, especially after the devaluation of the dinar against the dollar, as they face higher risks because they suffer from deprivation in terms of Many dimensions, including: education, health, living conditions, and financial security.

Also, about three million people in Iraq, including 731,000 internally displaced people, did not have enough food during the recent period.

In order to understand more about the repercussions of the devaluation of the Iraqi dinar and the possible solutions to alleviate the financial and economic pressures on the poor and fragile classes in Iraq, the following two questions were put to the audience:

The first question // Were the returns achieved from the devaluation of the dinar worth the repercussions that the exchange rate had on the fragile classes in Iraq?

The second question // What are the steps required to reduce the adverse effects of devaluing the dinar on the vulnerable classes in Iraq?

Interventions

Sheikh Mortada Maash:

 Sheikh Murtada Maash identified a set of factors that were behind the reduction of the Iraqi dinar exchange rate in return for raising the price of the dollar, which are:

The first factor: oil, as its prices fell to the lowest levels at a time when the budget depends on oil revenues by a very large percentage, which caused a major financial crisis that prompted Iraq to borrow from the International Monetary Fund and local banks to fill the deficit in the budget.

Iraq has been under pressure from the International Monetary Fund to reform the Iraqi economy, in particular raising the price of the dollar and reducing government support for fuel and the ration card since 2014, and due to the ISIS war, it was postponed until the recent oil crisis that prompted Iraq to implement the fund's policy (lowering the exchange rate) and to provide the necessary funds to cover the budget deficit Especially employee salaries.

Maash goes on to say that the IMF's policy is a long and broad policy that includes combating corruption, governance, transparency and integrity and encouraging the private sector, but it focuses only on two things: raising government support and decreasing the exchange rate without paying attention to other issues, which indicates the Fund's lack of credibility in its reform policy towards the Iraqi economy.

The second factor: corruption, is the main problem that affects people, as it has led to the erosion of the Iraqi economy, and this is what the International Monetary Fund has not met.

The third factor: monopoly, which leads to a violation of the principle of equal opportunities and the latter leads to production, movement and work, and given the control of a group of forces in the arena that turned into large fiefdoms over all the joints of the economy, and the result prevents any second party from the private sector and internal and external investments from working.

The fourth factor: consumption, as Iraq has become sharply consuming and unproductive, and all goods are imported from abroad, and this means a decrease in production, massive import and the presence of large unemployment.

The conclusion reached by Sheikh Maash is: The devaluation of the dinar due to the rise in the price of the dollar led to an increase in prices without a corresponding increase in the citizen’s income, causing great harm, while the government, parties and privileged owners made small gains from this decision. And after listing the reasons and the result, he mentions a set of steps related to the second question, as follows:

There must be a private sector capable of containing unemployment, and security stability is very important to attract domestic and foreign investments.

It has been noted that foreign companies, especially Western ones, have begun to leave Iraq, which means that Iraq may be heading towards the Lebanese model. There is a similarity in terms of conditions and circumstances to Lebanon in terms of the internal crisis of fiefdoms, quotas, monopoly, dominance, rent and regional dependency.

Author Ali Hussein Obaid: 

He believes that decreasing the exchange rate is a wrong procedure because of the disadvantages that it left on the simple citizen, and it is an escape from a primary responsibility of the government and it was supposed to take the correct decision, and he justifies the escape by the fact that the state did not take alternative policies that contribute to maximizing resources such as fighting corruption, recovering looted money and maximizing the outlets’ resources border, taxes, etc.

The devaluation of the dinar led to two types of theft, the first from the employees’ salary and the second theft is the price hike. This decision raised the prices of important goods to 100% or 75% at best, while the dollar rose by 20-30%.

Researcher Basem Al-Zaidi:

 He believes that politics and the economy are two sides of the same coin. Whenever the state's policy is a balanced, rational policy based on firm foundations, the economy will recover and take its place, whether the private sector or the public sector. And given the confusion in the political, economic, social and other decisions since the establishment of the Iraqi state, it led to the bad results we are experiencing today, which are negatively reflected on the citizen.

Where it became the only one affected, whether the exchange rate was raised or reduced, and the evidence is that the dinar was strong during the seventies and weak in the nineties, and in both cases the citizen is the one who is affected.

Researcher Haider Al-Jarrah:

 In his intervention, he asks: Was the change in the exchange rate the result of an external factor, the International Monetary Fund, or was it the result of an internal factor, the government? What are the conditions that must be met in order for the exchange rate to return or can the exchange rate return to its condition? Are there any chances that the dollar price will rise to a higher price if the government continues its economic illiteracy?

Researcher Muhammad Al-Safi:

 He wonders: Was the price of the dinar a realistic price before the exchange rate devaluation and a real one representing the Iraqi economy? He answers: In fact, a strong currency always harms the local product, as all countries whose currency appreciates against the dollar are non-producing countries that do not have production.

Regarding the low exchange rate, we note there are countries, especially after the Corona pandemic, their currencies decreased, such as Turkey and Iran, which are semi-industrialized countries, but the Gulf countries relied on their sovereign funds and continued to support their currency without reducing it. Many studies indicate that the future of these countries will be greatly affected by the drop in oil prices because they do not have Economic infrastructure that qualifies it to at least compete with neighboring countries such as Turkey, Iran, India, Pakistan and others.

Therefore, the high currency harms the local product, while the low currency harms the local consumer, as is the case in Iraq today, because our society is consumer and was affected by the currency's decline against the dollar.

The voices of reform always rise with the drop in oil prices, and as soon as oil prices return to the rise, those voices calling for reform, whether governmental or popular, disappear, and this will put us in a real problem in the face of achieving predictions about alternative energy sources, and Iraq will become like the case of Lebanon and worse than it.

The human rights defender, Ahmed Juweed

 He finds in his intervention that the decline of the dinar and the rise of the dollar is one of the many problems that the Iraqi state suffers from, and that the main cause is the failure to formulate the general policies of the state, which is the government's responsibility.

All successive governments of the Iraqi state from 2003 until now have failed to draw up an economic policy and give a certain identity to the Iraqi economy, as the economic policy was an improvised and unstudied policy.

There are two interests in Iraq: the interest of influential parties that include politicians and economists, and the interest of a citizen, and the victim is always in the interest of the citizen in any issue and its solution is at the expense of the citizen.

The state was supposed to study this step and its repercussions before taking it, especially since this step of raising the dollar price from 1190 to 1450 is a big step, and the only beneficiary is the banks that buy and sell the dollar from the outlets.

The result is that raising the price of the dollar against the dinar has caused harm to the citizen, whether he is an employee, a consumer or a private sector, and the beneficiary is the political and influential class and the owners of international relations.

Hussein Ali Hussein:

 It is believed that there are two sides to the issue:

The first: raising the price of the dollar is a precautionary measure by the state to avoid the collapse of the economy, but it affected those with limited incomes.

Second: There are many alternatives that could have been resorted to before raising the dollar, which is activating tourism.

Dr. Hussain Ahmed Al Sarhan:

 He goes on to say that there is a set of economic policies (financial, monetary, commercial) and that the exchange rate is one of the branches of monetary policy, it must be carefully synthesized to avoid conflict between them to achieve a goal of decreasing the exchange rate in Iraq.

Most countries seek to reduce the price of their local currency and raise the price of the dollar, in order to increase the economy’s ability to attract investments by virtue of the low cost of production for the foreign investor, and to maximize tourism revenues by virtue of low prices for foreign tourists, to preserve the local currency, and to strengthen the local product, meaning that the devaluation of the currency it means more export.

What happened in Iraq is the lack of control over the border crossings and the exit of the dollar strongly due to the dependence of consumption on imports, which requires the dollar to achieve in addition to the smuggling of the dollar. The goal of the government was to raise the price of the dollar to avoid the smuggling of the dollar and to preserve the foreign reserve, which decreased from 80 billion dollars to 38 billion dollars. dollar.

The returns achieved from raising the price of the dollar were not worth the costs involved, and it can be returned to its previous position because it is a political decision, and the White Paper is a good strategic plan that needs a political decision that works to implement it, and what was stated in the 2021 budget is contrary to what was stated in the White Paper.   LINK

Samson:  Iraq is at the center of the storm.. "Future wars will be fought over water instead of oil"

26th July, 2021

The British newspaper "The Independent" warned of the dangers of water crises in the Middle East, including in Iraq, Lebanon, Iran and Syria, which are causing a nightmare of social unrest and tensions between countries.

And the British newspaper said in a report translated by Shafaq News Agency, that "future wars will be fought over water instead of oil," adding that this saying "appears as an increasingly terrifying fact with each passing year, especially across the Middle East and North Africa, which are regions located on frontline of the world's climate crises.

But this year in particular, the paper said, water has become an alarmingly scarcer resource as wars, crumbling infrastructure and an unparalleled economic collapse have led to a catastrophic outburst of anger linked to record-high temperatures.

The newspaper pointed out that the water and energy crises have provoked turmoil in a number of countries from Sudan to Iran, and provoked cross-border conflict, and the situation will worsen as the summer and misery continues.

The newspaper stated that it had already sounded the alarm about this situation for a long time, but with the emergence of severe weather events around the world in light of the effects of the “Covid 19” epidemic, the issue has become much more urgent, because people have lost access to potable water. This will make stopping the spread of the virus more difficult. The newspaper warned that with the spread of the second and third waves of the deadly virus worldwide, it is no longer possible to commit to achieving water, sanitation and hygiene programs, as with the delay in giving vaccines for the year 2022, the abundance of water and hygiene will be the only defense they have against the disease.

The newspaper pointed out that Lebanon, which floats on the Mediterranean and is rich in mountains, forests, lakes and streams, is the latest country to now face a water crisis. The United Nations Children's Fund (UNICEF) warned on Friday that the water supply network in Lebanon is on the verge of complete collapse, and that during In just a few weeks, four million people, including one million refugees, will face the risk of losing access to potable water, as pumping water will gradually stop throughout the country.

In addition to the water crisis in Lebanon, there is the issue of economic collapse, which, according to the World Bank, is among the worst in the world during the past 150 years, as the country is so bankrupt that parts of the country do not have electricity. And she added that Lebanon is not alone on the brink of the water crisis. In Iran, Amnesty International said it had verified footage proving the killing of eight protesters during a crackdown on protests due to severe water shortages in Khuzestan. Iranians have taken to the streets in dozens of towns due to the escalating drought that environmentalists say the state has failed to deal with, with temperatures soaring to about 50 degrees Celsius.

In Iraq, especially in the south of the country, where the historical marshes were increasingly drying up, the lack of water also caused frequent disputes between Iran and Iraq, which depend on the Tigris and Euphrates rivers for almost all of its water. But Iran is building dams to re-divert some of that water, which is causing concern and causing a major water shortage in Iraq. She also referred to similar problems that erupted between Iraq and Turkey on the issue of rivers, and with regard to Syria, the United Nations warned of severe droughts due to the decline in the levels of the Euphrates River, which means that Syria, stricken by war, is currently ranked seventh on the global risk index for The 191 countries most at risk of a "human or natural disaster" are beyond the capacity to deal with.

The British newspaper concluded by saying that "a comprehensive solution to reduce the impact of the climate crisis by settling disputes and ending corruption is the only way out of this nightmare." And she added that with the Corona virus continuing to haunt the earth, "before it is too late, we need now more than ever to invest in water, sanitation and hygiene programmes."   LINK

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Samson:  Japan, Britain and America are among the most indebted countries in the world

26th July, 2021

The head of the Center for Investment Analysis and Economic Research in Russia, Daniel Namitkin, said on Monday, July 26, 2021, that the list of the most indebted countries in the world comes at the forefront of Japan, Britain, America and the countries of the euro area.

Namitkin noted that according to the Institute of International Finance (IIF) and the Organization for Economic Co-operation and Development (OECD), at the end of 2020, the total public debt was 105% more than the gross domestic product of the world as a whole. He explained that the highest level of public debt was recorded mainly among the developed countries: Japan - 234%, Britain - 144%, the United States - 160%, the Eurozone - 120.4%.

He stressed that the Corona virus crisis showed that in the event of a deterioration in the global economic conditions, the global regulators are ready to take unprecedented measures to provide liquidity to the markets in order to maintain the stability of the financial system.

He added that in the current circumstances, some concerns may be caused by a noticeable acceleration in inflation in developed countries, as a result of large-scale measures to support the economy during the epidemic.

According to him, despite the huge levels of debt burden in many large countries, debt servicing problems for the foreseeable future are not expected.

It is noteworthy that the total global debt rose to its highest level ever at the end of 2020, to reach 281 trillion dollars, due to the repercussions of the pandemic, which is equivalent to more than 355 percent of global GDP, according to the Institute of International Finance.

Experts believe that the world will have no other choice but to continue borrowing during 2021. Governments with severe budget deficits are expected to increase debt by an additional $10 trillion in 2021, which will exacerbate political and social pressures and will be difficult to resolve.  LINK

Some "Sunday News" Posted by Samson at KTFA 7-25-2021

KTFA:

Iraq is the fourth Arab economy and precedes a rich Gulf country

07/25/2021 12:28:55

 International Monetary Fund estimates of the gross domestic product indicated that Iraq has the fourth largest Arab economy.

 International monetary estimates indicated that the expectations of the Iraqi gross domestic product amount to 190.7 billion dollars at the end of 2021.

Iraq's economy comes behind Saudi Arabia, the UAE and Egypt and precedes Qatar.  LINK

Samson:  The Egyptian Fatwa forbids “FOREX”

25th July, 2021

The Egyptian Dar Al Iftaa issued warnings regarding the so-called “Forex”, which is an updated transaction related to the exchange of foreign currencies in a number of global markets.

And the Grand Mufti of Egypt, Shawki Allam, answered a question about the statement of the Sharia ruling in “forex”, saying: “After extensive research and study of this type of dealing, the Egyptian Dar Al-Iftaa sees the prohibition of the forex transaction and the prohibition from participating in it, because of the risks involved in its practice for clients. and countries, and some jurisprudential institutions have also issued fatwas, such as the International Islamic Fiqh Academy in Jeddah.

Dar Al-Iftaa warned against “Forex”, while “Al-Watan” newspaper pointed out that through this program, the customer pays a sum of foreign currencies that he deposits to a broker, a brokerage company, a bank or otherwise, and the broker in return adds an amount of currencies to raise the amount of that the balance in his account; This is in order to maximize the financial amount that the dealer pays to increase the percentage of trading in exchange transactions, and the amount that the broker puts in the client’s account may reach from fifty times to five hundred times what the investor deposited in the account of this transaction, and the broker exchanges it for other currencies in favor of this investor.

It should be noted that “FOREX” is an abbreviation for “Foreign Exchange”, that is: “Foreign Exchange”.

LINK

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Samson:  Angry protesters storm a power station in southern Iraq

25th July, 2021

Angry demonstrators in Dhi Qar governorate, at dawn today, stormed a power station south of Nasiriyah city, the center of the governorate.

In contact with Shafak News Agency, eyewitnesses informed; "Angry demonstrators from the people of Al-Tar district, affiliated to Souq Al-Shuyoukh district, south of Dhi Qar, stormed the district's power station, due to the deterioration in the supply of electricity in the district."

And witnesses said, "The demonstrators used burning tires in the process of storming the electrical station," pointing out that "the demonstrators closed the power station."  LINK

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Samson:  US administration officials: Washington will withdraw a small number of its forces from Iraq

25th July, 2021

The Iraqi Prime Minister, Mustafa Al-Kazemi, plans to visit Washington, DC, at the end of the week, to demand US President Joe Biden to withdraw all US combat forces from Iraq, according to the New York Times.

The newspaper quoted US officials as saying that it is likely to be announced, Monday, for a deadline for the withdrawal of US combat forces from Iraq, which may be by the end of this year.

According to what the newspaper quoted Pentagon and US administration officials as saying, Washington will respond to the demands to withdraw a small number, still undetermined, out of the 2,500 US troops currently stationed in Iraq, in addition to reclassifying the role of other forces "on paper." In the words of the newspaper, Al-Kazemi, with this achievement, will achieve a political victory that will bring him home to satisfy the anti-American parties in his country, while maintaining the American military presence.

The newspaper described Al-Kazemi’s move as Al-Kazemi’s latest effort to align the needs and demands of Iraq’s two closest allies, the United States and Iran. The Iranian-backed factions are demanding the withdrawal of US forces from Iraq, while Iraqi officials insist that they still need the support of US forces.

Officials in Washington pointed out, according to the newspaper, on Friday, that they expect the levels of US forces in Iraq to remain at their current status, 2500 soldiers, while the roles of some of them will be redefined. While the newspaper described Al-Kazemi's move as giving him "temporary political cover", it pointed to what officials in Baghdad confirmed that redefining the roles of US forces instead of withdrawing would likely not be satisfactory for the parties calling for the withdrawal of forces. “Changing their name from combat forces to trainers and advisors (..) we consider it an attempt to deceive,” said the political spokesman for the Iran-backed Asa’ib Ahl al-Haq militia, Muhammad al-Rubaie, according to the newspaper. Asa'ib Ahl al-Haq is one of the largest militias backed by Iran in Iraq, and controls 16 seats in parliament in Baghdad.

On Thursday, an Iraqi delegation began talks in Washington in several areas within the strategic dialogue between the two countries, including what is related to the US military presence in Iraq, prior to Al-Kazemi's meeting with Biden, Monday, at the White House. And Mara Carlin, the official in charge of international affairs at the US Department of Defense, the Pentagon, received a delegation headed by the Iraqi National Security Adviser, Qassem Al-Araji, to discuss "long-term military cooperation" between the two countries, according to Pentagon spokesman John Kirby. Kirby noted that US Defense Secretary Lloyd Austin joined the talks to "reaffirm his commitment" to continuing the fight against ISIS.

After American interests in Iraq have been targeted since the beginning of the year with about 50 missile or drone attacks, Austin stressed "the need for the United States and the coalition to be able to assist the Iraqi army in complete safety." Al-Kazemi had discussed with the White House envoy, Brett McGurk, last week, in Baghdad, the withdrawal of "combat forces from Iraq." But White House spokeswoman Jen Psaki said, on Thursday, that the Iraqi government "would like the United States and the coalition to continue training and assisting its military, providing logistical support (and) exchanging information."

On Friday, Iraq and the United States renewed their commitment to strengthening the partnership between the two countries, and emphasizing its "strength" and based on common interests, with the start of the strategic dialogue meetings between the two countries. The US Secretary of State, Anthony Blinken, stressed "the strength of the US partnership with Iraq," adding that "the work we are doing with Iraq today is based on achieving common interests."

The Iraqi Foreign Minister, Fouad Hussein, said that "ISIS is still present in Iraq", and that his country renews its commitment to strengthening its strategic partnership with the United States as a key partner in the international coalition to fight the organization, adding, in statements to Al-Hurra TV, that the Iraqi security forces "are still They need the programs provided by the United States in terms of training, arming, equipping, and building capabilities.”   LINK

Samson: Vatican reveals it owns more than 5,000 properties

24th July, 2021

The Vatican has released information on its real estate holdings for the first time, revealing it owns more than 5,000 properties, as part of its most detailed financial disclosures ever.

The information released on Saturday was contained in two documents – a consolidated financial statement for 2020 for the Holy See and the first ever public budget for the Administration of the Patrimony of the Apostolic See (Apsa).

Apsa, a sort of general accounting office, manages real estate and investments, pays salaries, and acts as a purchasing office and human resources department. Between the two documents – each with an unprecedented number of pie charts, graphs and maps – and two explanatory interviews, the Vatican issued more than 50 pages of financial material.

The 30-page Apsa budget showed it owns 4,051 properties in Italy and about 1,120 abroad, not including its embassies around the world. Only about 14% of its Italian properties were rented at market rates, while the others were rented at cut rates, many to church employees. About 40% were institutional buildings such as schools, convents and hospitals.

The documentation showed Apsa owns properties as investments in upmarket areas of London, Geneva, Lausanne and Paris. One building, in London’s South Kensington, led to enormous losses after it was bought by the Vatican’s secretariat of state as an investment in 2014.

On Tuesday, the trial of 10 people in connection with its purchase, including the prominent cardinal Angelo Becciu, starts in the Vatican. They are charged with financial crimes including embezzlement, money laundering, fraud, extortion and abuse of office.

Father Juan Antonio Guerrero Alves, head of the Vatican’s secretariat for the economy (SPE), told the official Vatican News website that the building would be sold soon. He said the trial would be a “turning point” in the Vatican’s credibility in economic matters and that a similar event could not be repeated because of measures put into place since.

Last year, Pope Francis stripped the Secretariat of State of control over its funds, transferring them to Apsa and with oversight by the SPE.

A separate consolidated financial statement for the Holy See issued on Saturday showed a €64.8m (£55m) deficit in 2020, down from a €79.2m deficit in 2019.

The Holy See budget includes the central administration of the Roman Catholic church, known as the Curia, that oversees the governing of the 1.3 billion-member worldwide church, its global diplomatic representations and media operations. Vatican City, including the Vatican Museums and the Vatican bank, has a separate budget.

To plug the 2020 deficit, about €50m was taken from Peter’s Pence, a fund of donations to help the pope carry out the church’s worldwide work.

The Covid-19 pandemic hit Vatican revenues hard in 2020. St Peter’s Basilica and the Vatican museums, the latter a cash cow that received about 6 million paying visitors in 2019, were closed or only partially open for much of 2020.   LINK

"Vietnam News" Posted by Samson 7-23-2021

KTFA:

Samson:  US Defense Secretary Austin to visit Việt Nam on July 28-29: Foreign ministry

22nd July, 2021

US Defense Secretary Lloyd Austin will make an official trip to Việt Nam on July 28-29 at the invitation of the Vietnamese Minister of National Defence Phan Văn Giang, spokesperson for the Vietnamese foreign ministry Lê Thị Thu Hằng announced on Thursday.

The visit, part of a Southeast Asian tour with stops in the Philippines and Singapore in addition to Việt Nam starting this Friday, is the first one to the region by a top official of the Biden-Harris administration.

“The visit to Việt Nam by the US Secretary of Defense would contribute to the strengthening of friendship and trust between our two peoples and armies, implementing the agreement between the two countries’ high-level leaders, and furthering the framework of Việt Nam-US comprehensive partnership,” Hằng noted, while not affirming specifically whether the South China Sea issue (known in Việt Nam as the East Sea) would be high on the visit’s agenda as speculated.

Due to COVID-19 restrictions in place amid complicated outbreaks in the capital city of Hà Nội, where the US official is expected to have talks with Vietnamese senior leaders, the events and meetings will only be open to Vietnamese and American press members, according to the foreign ministry.

UK warships

In response to the announcement from the UK that it would send two warships to be permanently based in "Asian waters” as part of the country’s Indo-Pacific commitment, Hằng reiterated Việt Nam’s consistent position that all activities of countries at sea “must strictly adhere to the provisions of international law, including the 1982 UNCLOS.”

Countries should also contribute to the maintenance of peace, security, stability, and order and uphold the rule of law in line with the aspiration of the region and international community, the spokesperson said.   LINK

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Samson:  Vietnamese Defence Minister holds talks with British counterpart

22nd July, 2021

Việt Nam’s Minister of National Defence General Phan Văn Giang chaired a welcome ceremony and held talks with UK Secretary of State for Defence Robert Ben Lobban Wallace in Hà Nội on Thursday.

They agreed that in recent years, bilateral cooperation had been lifted, with many achievements in politics, economy, trade, culture and education. 

Despite the impact of the pandemic, the two sides have basically completed agreed cooperation aims, such as maintaining policy dialogue, stepping up delegation exchanges, training in English language for Vietnamese officers, and sharing experience in UN peacekeeping missions, thus contributing to the two countries’ strategic partnership.

They agreed to continue to promote defence ties with a focus on the exchange of delegations, implementation of existing cooperation such as the Defence Policy Dialogue at the deputy ministerial level and the bilateral working group on defence cooperation, English language training for Vietnamese officers and participation in UN peacekeeping missions.

Việt Nam supports UK participation in the ASEAN Defence Ministers' Meeting Plus on the basis of ASEAN consensus, as well as UK collaboration with ASEAN, including in military defence.

The two ministers also exchanged views on the world and regional situations and issues of mutual concern. The British side shared Việt Nam’s views on solving the East Sea issue, affirming the importance of navigation and aviation freedom, supporting the rule of law, and emphasising that disputes need to be settled by peaceful means, based on international law, including the 1982 United Nations Convention on the Law of the Sea.

Minister General Phan Văn Giang expressed his pleasure to welcome and hold talks with his British counterpart in Hà Nội amid the complex development of the COVID-19 pandemic. The move affirms the goodwill, efforts and determination of the two countries in promoting cooperation, he said. He also thanked the British Government for sharing experience in coronavirus prevention and control, and putting Việt Nam on the priority list of vaccines. He also suggested that Wallace, within his authority, help the Vietnamese Ministry of National Defence in gaining access to vaccines.

During his Việt Nam visit from July 21-23, the UK Secretary of State for Defence is scheduled to pay a courtesy visit to Prime Minister Phạm Minh Chính, visit the Diplomatic Academy of Việt Nam and the Việt Nam National Border Committee, and have a meeting with several officers who participated in UN peacekeeping missions.    LINK

Samson:  Vietnam : Finance ministry announces roadmap to reorganise stock market

22nd July, 2021

The Minister of Finance (MoF) plans to rearrange the securities trading market in a newly-promulgated Circular as a move towards the merging of the two national stock exchanges into one named the Việt Nam Stock Exchange (VNX).

MoF has promulgated Circular No 57/2021 stipulating the roadmap to rearrange the stock market, the bond market and the derivatives market. This Circular takes effect from July 20 this year.

Under the Circular, by the end of June 30, 2025, the Hồ Chí Minh City Stock Exchange (HoSE) shall unify the organisation of a trading market for listed shares, fund certificates and warrants.

From July 1, 2023 until December 31, 2023, HoSE will receive shares of listed companies from the Hà Nội Stock Exchange (HNX). Meanwhile, from January 1, 2025 to the end of June 30, 2025, HoSE will receive shares of enterprises from the Unlisted Public Company Market (UPCoM). For HNX, from July 1, 2023, the exchange will no longer accept the listing of new shares from enterprises.

As for the bond market, by the end of December 31, 2022, HNX will have completed the organisation of government bond market, government-guaranteed bonds, and listed corporate bonds, privately issued corporate bonds and receive listed corporate bonds from HoSE.

According to Decision No 37/2020, VNX operates under the model of parent-subsidiary company on the basis of the re-organisation of HNX and HoSE. The State will hold 100 per cent of its charter capital, which will be roughly VNĐ3 trillion (US$130 million).

According to the decision, HNX is tasked with organising and operating the derivatives and bond trading market. Meanwhile, HoSE will organise and operate the stock market and other securities trading markets. The current charter capital of HoSE is VNĐ1.2 trillion and HNX VNĐ750 billion.    LINK

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Samson:  Standard Chartered  revises forecast for Việt Nam down

22nd July, 2021

Standard Chartered has lowered its growth forecast for Việt Nam for 2021 from 6.7 per cent to 6.5 per cent.

The bank maintains its 7.3 per cent growth forecast for 2022, and continues to expect a post-COVID-19 economic acceleration.

“We believe Việt Nam is moving towards its goal of becoming a regional supply-chain hub, a modern industrial economy and a high-income country in the future,” said Tim Leelahaphan, Economist for Thailand and Việt Nam, Standard Chartered. “Việt Nam managed the COVID-19 situation well in 2020, further enhancing its appeal to foreign investors. The country had already benefited from the ongoing supply-chain shift in recent years. In the near term, the country’s pandemic management will be crucial to the outlook,” he went on.

Standard Chartered’s economists anticipate domestically oriented sectors such as retail are likely to be the hardest-hit if the current COVID-19 wave persists. The focus now is on whether the impact on the industrial sector will be temporary or more long-lasting.  While the global pandemic has weighed on Việt Nam’s economy via reduced tourism, supply-chain disruptions and weaker overseas demand, external indicators are showing a strong recovery. Exports in the first half of the year rose 28.4 per cent year-on-year and imports rose 36.1 per cent.

According to the UK-based bank, rising inflation is reducing the likelihood of further interest rate cuts. The bank does not expect rate hikes despite improving economic and credit growth from the last quarter of 2020. It also expects the State Bank of Việt Nam (SBV) to keep its refinancing rate at 4.0 per cent through to the end of 2023 to support credit growth. The possibility of a rate hike may gradually emerge if inflation and growth accelerate faster than expected. 

Standard Chartered has recently lowered its US dollar – Vietnamese đồng forecasts to 22,900 at the end of the third quarter of 2021 (from 23,100) and to 22,850 at the end of 2021 (23,000). Its end of 2022 forecast remains unchanged at 22,500. The balance of payments remains highly supportive of the currency, with strong exports and high net FDI inflows. Earlier, on Tuesday, the Asian Development Bank (ADB) also lowered its forecast for Việt Nam’s gross domestic product (GDP) growth in 2021 to 5.8 per cent from its previous prediction of 6.7 per cent in April, as the fourth wave of COVID-19 infections hampers the country's recovery.

Việt Nam's economic growth accelerated from 1.8 per cent in the first half of 2020 to 5.6 per cent in the same period this year as the global recovery from the pandemic boosted exports, the bank said. However, the ongoing wave of COVID-19 infections has led to disruptions in supply chains and prolonged social distancing measures in many provinces and cities whose growth rates are high. These have severely affected the circulation of goods and greatly limited economic activity in 2021.

Also as part of the report, the bank is projecting 7.2 per cent economic growth for developing Asia in 2021, compared with its forecast of 7.3 per cent in April, as new COVID-19 outbreaks slow the recovery in some regional economies. Excluding the newly industrialised economies of Hong Kong (China); the Republic of Korea; Singapore; and Taiwan (China), developing Asia’s updated growth outlook is 7.5 per cent for 2021 and 5.7 per cent for 2022, compared with earlier projections of 7.7 per cent and 5.6 per cent, respectively.   LINK