Some "Iraq and Vietnam News" Posted by Samson Friday 1-21-2022

KTFA:

Samson: The International Monetary Fund Sends A Warning Message To Countries Whose Debts Are In Dollars

21st January, 2022

International Monetary Fund Managing Director Kristalina Georgieva stressed that an increase in US interest rates could have significant effects on countries with high levels of debt dominated by the dollar.

Georgieva said the Fed’s rate hike could “throw cold water” on the weak economic recovery in some countries. Georgieva warned of the repercussions of raising interest rates in the United States on the weak economic recovery in some countries,

She indicated the need for the US Federal Reserve to clearly communicate its policy plans. The official called on countries with a high level of dollar debt to take action. And the International Monetary Fund’s message to countries with high levels of dollar-denominated debt is: “Act now. If you can extend the maturity, please do so.”

The warnings of the Director of the International Monetary Fund came during her participation in the “Davos” economic forum, held online due to the Corona pandemic, and indicated, during her discussion of the selections for the year 2022, that the International Monetary Fund expects the continuation of global economic recovery, but she stressed that it is “losing some momentum.” Due to the re-spread of the infection, the increase in inflation and the high level of debt.

The official stressed that fighting inflation is not the task of central banks alone, as other policy makers have to play a major role, including by promoting vaccinations to end the Covid-19 pandemic. She added that inflation was a country-specific phenomenon, which made policy responses more complex in 2022 compared to 2020, the first year of the epidemic.  LINK

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

Samson:  Iraq throws off the mantle of compensation debts and launches the new year with a stronger economy

19th January, 2022

Iraq has paid all the financial compensation to Kuwait amounting to 52.4 billion dollars more than 31 years after the invasion of Kuwait, which adds new money to the budget.

A report for Al-Monitor prepared by writer Adnan Abu Zeid said that Iraq is moving towards a new economic situation in 2022 after completing the payment of the amounts approved by the United Nations as compensation to Kuwait for the invasion on August 2, 1990, which leads experts to be optimistic about a better future for the country through improved financial conditions.

On December 22, 2022 the Central Bank of Iraq announced the completion of the payment of all financial compensation to Kuwait, amounting to $52.4 billion, more than 31 years after the invasion of Kuwait.

Mazhar Muhammad Salih, financial policy advisor to Prime Minister Mustafa Al-Kazemi, talks about the ability to pay external debt services, especially the outstanding debts, which currently amount to about 20 billion dollars (until the end of the year 2021), and after Iraq paid annual debt services dues, nearly 3 billion dollars during the year.

Last year, Iraq’s credit rating was boosted by accredited international rating agencies by placing Iraq within the B region and giving a positive signal to the international financial community on Iraq’s effective financial capabilities, according to Al-Monitor.

Salih reveals an external debt that is still indicated by international reports without sufficient analysis. It nominally belongs to about 12 countries, including 4 Gulf countries. It belongs to the pre-1990 period. It is still suspended and has not been settled under the Paris Club agreement signed between Iraq and its international creditors, which should be written off by a percentage 80%, or it is equivalent to 41 billion dollars, and it appears in the books of these countries, and if this debt is correct, it is equivalent to only 8-9 billion dollars, and it was linked to the Iran-Iraq war and I expect it to be written off completely.

Saleh believes that the cost of these compensations, according to current oil prices and Iraq’s export capabilities, represents a deduction of 3% of every barrel of oil exported from Iraq, so that its proceeds go to the United Nations Compensation Fund UNCC in Geneva.

 Salih says that the annual accumulation of these compensations means saving at least $2 billion annually, which will benefit Iraq’s budget and will cover an important financial space, whether in the face of the upcoming annual external debt dues or in providing sums that go to productive investment projects.

The economic expert, Salam Sumaisem, says that extinguishing compensation debts improves financial capabilities, provided they are used in development and investment, warning against the loss of the upcoming financial abundance, as many opportunities were lost in the past years, according to Al-Monitor.

Writer and political researcher Abbas Abboud, editor-in-chief of the former government newspaper Al-Sabah, talks about the political repercussions of the end of the compensation file as it turns a page of modern Iraqi political history, and its negative impact. Abboud believes that the end of the compensation file will reduce the psychological impact on the Iraqis, as well as the political impact towards balanced relations with the Gulf countries in general and with Kuwait in particular, and this issue is left to the Kuwaiti side and how it can open a new page with Iraq because the Iraqi-Kuwaiti relations are still stagnant .

Political analyst from the Summit Center for Strategic Studies, Qassem Al-Gharawi reveals that government parties are trying to redirect the funds that were intended to pay compensation towards establishing sovereign funds for the future in which funds will be collected and invested internationally as a fund for generations. Al-Azzawi considers that the idea may not be appropriate at the present time, as the additional financial abundance that was allocated to Kuwait’s compensation is better to put it in a local development fund that participates in developing a development program to create profitable and sustainable development projects for the fund and outside the authority of the government, and contributes to strengthening national development plans, instead of of annual borrowings.

The economic analyst and official spokesman for the extension movement, Manar Al-Obaidi, expects that Iraq’s official completion of paying its debts for Kuwait’s compensation will increase Iraq’s income, especially since 5% was deducted from oil sales to pay compensation, and this matter will contribute to enhancing Iraq’s revenues, noting that the debts Iraq’s foreign affairs have fallen to their lowest level to reach about 20 billion dollars, which represents a percentage of about 15% of the Iraqi GDP, which is a low percentage compared to other countries.

Al-Obaidi says that Iraq’s budgets have turned into a payroll rather than an actual budget aimed at implementing strategic plans and achieving growth rates. Al-Obaidi believes that Iraq, despite spending more than 1,000 trillion dinars since 2011, has gone up to 230 trillion for investment expenses, but the volume of growth in infrastructure and services facilities is still low.

The economic media specialist and the economic editor in the Iraqi Al-Sabah newspaper, Hussein Thaghb, talks about an additional balance after the conclusion of the compensation, which can be employed to serve the national economy when a court mechanism is adopted to employ this amount, which is not considered large in the world of economy, in a particular sector or in supporting small and medium enterprises.

There shall be an evaluation oversight of these projects. Thughab believes that the fiscal policy needs reform and clarity in the performance paths that are set by experts in financial affairs and international consultations that help in setting a financial policy, and that the budgets law needs reform that makes public revenues supportive of economic advancement.

Most of Iraq’s debts were not for development and reconstruction, but rather as a result of uncalculated military adventures by the former Iraqi regime, and that the end of compensation resulting from the losses of the Kuwait war will add new financial leverage, and financial abundance that can be benefited from if we reform the economic decision-making process, and move away from the mentality routine administrative.  LINK

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

Samson: Al-Kazemi returns to the fore as a “strong” candidate to head the next government

21st January, 2022

Al-Sadr puts the “coordinating framework” at a critical angle because of his insistence on excluding al-Maliki.

Although the position of the leader of the “Sadr movement” Muqtada al-Sadr was not clear in terms of the talks held with him by the commander of the Iranian “Quds Force” Ismail Qaani, the position of al-Sadr did not budge, according to the ongoing movement between the “Sadr movement” and the “coordinating framework”, in terms of accepting some of the Coordination framework only.

Al-Sadr, who used to express his position regarding his adherence to the government of the national majority when meeting with any official or delegation, is still the master of silence for him, especially after his meeting with Qaani. But he violently attacked what he called “the prosecutor of the resistance”, against the backdrop of the attack on the headquarters of the second deputy speaker of parliament, Shakhwan Abdullah, in Kirkuk.

According to political observers, Sadr’s violent attack on the armed factions; None of which claimed responsibility for a series of attacks that included the headquarters of Sadr’s allies from the Sunnis (“Progress” and “Azm”) and the Kurds (the Kurdistan Democratic Party), which means that Sadr is still seeking to include those he described in a previous tweet on Twitter as “He still thinks well of them.” What is meant by that is the “Al-Fateh Alliance” led by Hadi Al-Amiri.

On their part; The forces of the “coordinating framework” (which includes several Shiite forces whose results varied in the elections, namely: “Al-Fateh Alliance”, “State of Law”, “The Wisdom Movement”, “Victory”, “National Contract” and “Supreme Council”) are still continuing. Hold almost daily meetings, but without issuing a statement as was the case in previous meetings. Even days before the visit of Qaani and the Lebanese, Wajih Kawtharani, responsible for the Iraqi file in the Lebanese “Hezbollah”, the forces of the “coordinating framework” were expressing their positions in an official statement after each meeting, summarizing that the position of the forces of the “coordinating framework” is unified on all issues related to the formation of the next government. 

But that has changed over the last four days; Since the start of a meeting of the leaders of the “framework” is announced, the outcomes of the meeting remain confidential, while the leaks begin either through media close to one of the framework’s parties, or through leaders in these alliances. However, according to information obtained by Asharq Al-Awsat from close sources, “the (framework) forces are in a critical situation; Especially since al-Sadr’s position did not budge from adopting not only the idea of ​​a majority government; Rather, his absolute rejection of the accession of all forces (the framework) to this government, by his insistence on the exclusion of the leader (coalition of state law) Nuri al-Maliki. 

According to the same sources; “The forces of (the coordinating framework), although they see that the exclusion of al-Maliki, who has 34 seats, which is about half of the seats (the coordinating framework); Which means that the forces (the framework) if they agreed to exclude al-Maliki from among their ranks; Its position will be weak regarding the cohesion of (the Sadr bloc), which has 75 deputies in Parliament.” 

While the idea of ​​distributing a number of representatives of the State of Law coalition to the forces of the “coordinating framework” has been popular over the past few days, as a way out to resolve the crisis between the “current” and the “framework,” as long as al-Sadr’s position appears personally to al-Maliki without his coalition, the representative of the State Law» Dhurgham al-Maliki denied the existence of such an idea. 

Al-Maliki said in a statement that “(The State of Law Coalition) represents the main force within the (framework) because of the number of parliamentary seats it possesses, which reached 35 after two minorities joined it,” denying that “there is an idea to distribute a number of deputies ( The rule of law) over the rest of the forces of the (coordinating framework) as a way out to resolve the crisis between (the framework) and (the current). Al-Maliki explained that “the State of Law coalition is cohesive and organized under the tent of the (coordinating framework),” stressing that “the forces of the (framework) are coherent as well, and there is no withdrawal or alliance of any of its forces outside the (framework).”

According to these statements and other opinions expressed under different names; This in itself means that there are differences within the “framework” forces, but they have not been made public so far, while al-Sadr’s position remains the same. According to this political movement; It is among the positions and opinions that all of this has repercussions on the personalities nominated for the next government. 

Among them is the current Prime Minister Mustafa Al-Kazemi. At a time when there was a veto regarding the three presidencies (the republic, ministers and parliament), the election of Muhammad al-Halbousi for a second term to head the House of Representatives and the nomination of the current president, Barham Salih himself for a second term, practically dropped this veto, while the position of the prime minister remained dependent on the major bloc.  While the forces of the “coordinating framework” presented themselves as the ones that would form the largest bloc and put forward their candidates for prime minister.  LINK

Samson:  Vietnam : Three scenarios to help the digital economy make a breakthrough by 2025

19th January, 2022

The goal for the digital economy to account for 20 per cent of GDP by 2025 is very challenging. 

However, Nguyễn Trọng Đường, Deputy Director of the Department of Enterprise Management, Ministry of Information and Communications, believes that with a breakthrough scenario, the Vietnamese digital economy could account for 26.2 per cent of GDP in 2025.

Under the normal development scenario, the Vietnamese digital economy will only reach 10.5 per cent of GDP by 2025. To achieve this goal, it was necessary to maintain the average annual growth of the digital economy at about 20 per cent, three times higher than the expected GDP growth at 6.5-7 per cent per year, he said.

Based on the analysis and assessment of digital economy development, three development scenarios could be proposed for the Vietnamese digital economy by 2025, said Đường. In the normal scenario, with only average efforts for digital transformation and digital economy development, the digital economy will account for about 10.4 per cent of GDP by 2025, of which ICT, telecommunications and the internet economy account for about 7.9 per cent of GDP.

In the quicker scenario in which digital transformation and development of the digital economy are strongly promoted, the digital economy will account for about 19.9 per cent ​​of GDP by 2025, of which ICT, telecommunications and the internet economy account for about 13.1 per cent.

In the breakthrough scenario, digital transformation and digital economy development are strongly deployed, accompanied by measures to ensure a market balance between Vietnamese digital enterprises and foreign counterparts. At the same time, with policies to support Vietnamese technology start-ups, the digital economy will account for about 26.2 per cent of GDP by 2025, of which ICT, telecommunications and the internet economy account for about 16 per cent.

Đường said that first, it was necessary to quickly develop and promulgate national strategies and programmes on developing the digital economy and digital society.

Second, it was necessary to urgently review, amend and supplement legal regulations to improve the legal framework, mechanisms and policies for the development of the digital economy and digital society.

Third, it is necessary to accelerate the implementation of the national digital transformation programme, especially solutions for skills training and digital human resources development; digital transformation; and the domestic digital market.  LINK

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

Samson:  WTO membership the driving force behind Việt Nam’s growth: experts

17th January, 2022

World Trade Organisation (WTO) membership and the signing of 15 free trade agreements (FTAs) has been moving Việt Nam’s economy forward for years, according to experts at the 15th anniversary of Việt Nam’s accession to WTO.

The WTO’s World Trade Statistical Review reported that among the top 50 merchandise traders, Việt Nam has recorded the biggest increase in world ranking, improving its position from 39th place in 2009 to 23th in 2019. In 2020, the country positioned itself among the 20 leading exporters in international trade.

Economic expert Nguyễn Minh Phong noted the admission to WTO had turned Việt Nam into an economy with high trade openness (200 per cent GDP), with a trade surplus since 2016. Notably, total trade increased nearly eightfold from US$84.7 billion in 2006 to $668.5 billion in 2021. Between 2016 and 2020, the trade balance continued pick up steam and reached a peak of over $19 billion. Despite the pandemic, last year’s total exports still hit $336.25 billion, marking a surplus of $4 billion.

According to Ministry of Industry and Trade (MoIT), Việt Nam’s economy has been forging ahead with many upturns in exports thanks to WTO membership. The country has successfully expanded its trade footprint in almost all markets worldwide and actively participated in global value chains and production networks.

Việt Nam’s exports have become more processing-oriented with processed goods’ contribution to exports rising from 80.3 per cent in 2016 to nearly 89.2 per cent in 2021. The number of products that commercially fetch more than $1 billion ballooned from nine in 2006 to 35 last year.

Nguyễn Thị Thu Trang, director of WTO and Integration Center under the Việt Nam Chamber of Commerce and Industry, said that the strict compliance to WTO frameworks had allowed Vietnamese firms and the economy to grow steadily in the past 15 years.

Remarkably, firms and the economy had successfully adapted themselves to the ensuing FTAs and turned the new situation to their advantage without experiencing any trade shocks. In the future, it is all about institutional reforms, competitiveness enhancement and human resource improvement, which will help firms and the economy to continue to move forward, Trang added.   

Lương Hoàng Thái, director of Multilateral Trade Policy Department, believes Việt Nam has developed into an investment magnet thanks to the implementation of FTAs.

According to US News&World Report, Việt Nam was ranked 8th among the 20 best countries to invest in 2019, moving from 23th in 2018. The country is an attractive investment location for many of the world’s leading corporations including Samsung, Microsoft and LG.

There are about 34,500 projects in Việt Nam funded by foreign investors so far. Total registered investment topped $408 billion. In 2021, the country continued to draw in around $31.15 billion of foreign investment, up 9.2 per cent compared to 2020. 

Undoubtedly, WTO membership and FTAs have been giving impetus to Việt Nam’s growth in trade and investment.

Trần Quốc Khánh, MoIT deputy minister, said the the ministry would continue to implement ratified FTAs, diversify exports and export markets, improve export quality, and stick to rules and regulations on product quality and origin to get the most out of WTO membership and FTAs.

Việt Nam was admitted to the WTO on November 7, 2006 and became an official member of the world’s largest trade organisation on January 11, 2007.  LINK

Some "Thursday News" Posted by Samson at KTFA 1-20-2022

KTFA:

Samson:  Iraqis have submitted nomination papers for the presidency of Iraq

20th January, 2022

Media sources reported that twenty-six Iraqis, most of whom are Kurds, have submitted papers to run for the presidency of Iraq.

It is noteworthy that the political custom that has been followed in Iraq since the first parliamentary elections held in the country in the year 2005, the position of the president of the republic is from the share of the Patriotic Union of Kurdistan, as the late Jalal Talabani headed the presidency for two terms, then Fuad Masum, then the current president Barham Salih.  LINK

Samson: Saleh receives the papers of 12 ambassadors and confirms Iraq’s openness to the international community

20th January, 2022

Thursday, the President of the Republic, Barham Salih, received the credentials of 12 ambassadors to Iraq.

And the Presidency of the Republic stated in a statement that Mawazine News received a copy of it, that “Saleh received, at the Peace Palace, the credentials of the ambassadors of the Republic of South Korea, Choi Seung-soo, the People’s Democratic Republic of Algeria, Belkacem Mahmoudi, the Federal Democratic Republic of Nepal, Durga Prasad, and the Republic of Slovenia, Primoz Selko.”

The Republic of Kazakhstan, Aidarbek Tomatov, the Republic of Astuna Lambet Ibo, the Republic of Ireland Vincent O’Neill, the Slovak Republic Mark Varga, the Republic of Burkina Faso, Alassan Monet, the Federal Republic of Nigeria, Farouk Mallami Yabo, the Kingdom of Norway Aspen-Event Lindbeck, and the Republic of Cyprus Michalis Ioannou.

The President of the Republic, while receiving the ambassadors separately, stressed “Iraq’s openness to the international community, strengthening its political, economic and trade relations, and supporting regional and international coordination to confront common global challenges, foremost of which is combating terrorism, extremist ideology, health and environmental conditions, and confronting climate change.”

 He expressed his wishes to the ambassadors for “success and success in performing their duties, in a way that contributes to the consolidation of friendship and cooperation relations between Iraq and their countries.”

For their part, the ambassadors extended their thanks and appreciation to the President of the Republic, and affirmed their countries’ aspiration to strengthen relations with Iraq in various fields and support its security and stability. LINK

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

Samson:  Economist: Al-Kazemi’s Government Is Not Authorized To Spend From The Financial Surplus

20th January, 2022

Economic analyst Younis Al-Kaabi confirmed, on Thursday, that the large financial surplus due to the rise in oil prices, will be the nucleus of the new government to launch a promising program, while indicating that the caretaker government cannot dispose of the financial surplus.

Al-Kaabi said, “The increases in crude oil prices will contribute significantly to supporting the 2022 budget,” noting that “the delay in convening Parliament and forming the new government made the caretaker government unable to spend from public funds, except in the field of expenditures.” The general public at a rate of 12/1, as is the case in the event the budget is delayed for any reason.

He added, “So we are facing a large financial surplus that will be the nucleus for the next government to launch a promising government program through which it can provide programs and investments and provide great job opportunities.”

And earlier today, oil expert Hamza Al-Jawahiri said that oil prices will remain between 85 and 90 dollars for the current year and the following year due to the return of economic activities to the countries of the world that decided to coexist with the epidemic.  LINK

Samson: Al-Rafidain: More than 61 thousand accounts were opened for citizens to deposit their money last year

20th January, 2022

Today, Thursday, Al-Rafidain Bank announced the outcome of the number of accounts opened for citizens in Baghdad and the governorates during the past year, which amounted to 61,298 savings and current accounts.

The media office of the bank said in a statement received by “Al-Iqtisad News”, that “the number of current accounts that were opened for citizens in the past year reached 9,247 current accounts in dinars and dollars,” noting that “the number of savings accounts for citizens amounted to 46,415 accounts in dinars and dollars, in addition to that the number of deposit accounts is 5636.

He added that “the bank continues to provide its services and open accounts for citizens in dinars, dollars and fixed deposits for those wishing to deposit their money in the bank and obtain interests according to the terms and controls established, and the bank’s customers can visit its branches in Baghdad and the provinces to see them.”  LINK

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

Samson:  The Arab Monetary Fund organizes “remotely” the Seventh Annual Meeting of the Undersecretaries of the Ministries of Finance in the Arab Countries

20th January, 2022  On January 19-20, 2022

The meeting deals with : 

Digital transformation strategies in government stock markets in the Arab countries

The importance of digitizing tax collection in Arab countries

Modernizing the role of the state to stimulate growth driven by the private sector

The challenges of the health sector stumbling on macroeconomic transformations in the Arab region

Fiscal policies to support the recovery phase from the repercussions of the Corona pandemic in the Arab region

The experiences of Arab countries in terms of digitizing government payments and transfers and publishing public finance statistics

The experiences of emerging economies and developing countries in the field of corporate tax reforms

On Wednesday and Thursday, January 19 and 20, 2022, the Arab Monetary Fund organizes “remotely” the seventh annual meeting of the undersecretaries of the ministries of finance in the Arab countries. 

The meeting will be attended by the undersecretaries of the ministries of finance in the Arab countries. A number of experts from the International Monetary Fund, the World Bank and the Organization for Economic Cooperation and Development will also participate. 

It should be noted that the Arab Monetary Fund assumes the functions of the secretariat of the Council of Arab Finance Ministers and the activities and events associated with the Council.

The meeting’s agenda includes a number of topics and working papers of importance to the Arab countries, including “Updating the State’s Role to Stimulate Growth Driven by the Private Sector” submitted by the International Monetary Fund, and a report on “Challenges of the Health Sector’s Stalling on Macroeconomic Transformations in the Arab Region” submitted by the Bank The International Monetary Fund, in addition to two studies by the Arab Monetary Fund on “Digital Transformation Strategies in Government Securities Markets in Arab Countries” and “Digitizing Tax Collection in Arab Countries.”

The meeting will also discuss, within the framework of the exchange of experiences and expertise, issues of digitizing payments and government transfers, and publishing public financial statistics, where a number of Arab countries’ experiences in this regard will be reviewed. In addition, the meeting will discuss the experiences of emerging economies and developing countries in terms of corporate tax reforms, through a presentation by the Organization for Economic Cooperation and Development.

Finally, and in light of the current developments, the Undersecretaries will discuss, in the item on the exchange of experiences and expertise, financial policies to support the recovery phase from the repercussions of the Corona pandemic in the Arab countries, in addition to preparing for the meeting of the thirteenth regular session of the Council of Arab Finance Ministers to be held in April 2022.

On this occasion, His Excellency Dr. Abdul Rahman bin Abdullah Al-Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, indicated that the meeting of the Arab Ministries of Finance Undersecretaries represents an important opportunity to exchange experiences and expertise and enhance coordination on developments in financial policies and economic and financial reform efforts undertaken by the authorities in Arab countries to restore and strengthen recovery to achieve economic and financial stability and promote comprehensive and sustainable growth, praising in this context the many topics and issues on the agenda of the seventh meeting, in terms of their importance to Arab countries and their keeping up with the needs of the current stage. 

He also expressed his thanks to the Undersecretaries for their participation in presenting the experiences of their countries. His Excellency also thanked the International Monetary Fund, the World Bank and the Organization for Economic Cooperation and Development for their participation in the meeting and the important papers prepared for this purpose.   LINK

Monday Night KTFA CC "Powerless To Stop It!!" 1-17-2022

KTFA

Monday Night KTFA CC

Frank26:  1-17-22……..POWERLESS TO STOP IT !!!

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

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

Playback Number: 605-313-5163   PIN: 156996#

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

https://www.youtube.com/watch?v=5gLxC3ka2Cw

KTFA Membrs "News and Views" Monday PM 1-17-2022

KTFA:

Frank26: “WE WILL NOT ALLOW YOU TO BREAK YOUR PROMISES TO RETURN THE DINAR TO THE GLORY DAY ERA”……..F26

State Of Law: We Will Not Allow The BudgetTo Pass Without Changing The Dollar Exchange Rate

 Frank26: (YOU PROMISED -F26)

16th January, 2022

Representative of the State of Law coalition, Firas Al-Maslmawi, confirmed that his coalition and other representatives within the same direction will not allow the budget to be passed for the current year except after a reduction in the exchange rate of the dollar against the dinar, pointing out that changing the exchange rate and its rise did not achieve any benefit, and worked on starving people.

Al-Maslamawi told Al-Maalouma, “The general budget for the current year will not be passed in Parliament in the event that the dollar exchange rate continues as it is at the present time.”

He added, “The significant rise in the exchange rate has caused a lot of harm to the people, and it cannot be allowed to continue rising in the current year’s budget, especially since the price change by the government did not achieve any benefit other than starving the Iraqi people.”

And he indicated that “the change in the exchange rate has caused great damage, especially the poor class, and therefore it will not be allowed to continue rising, as there will be a movement towards independent representatives and supporters to reduce the price in order to proceed with it and not pass the budget according to the current rise.” 

Frank26: FAMIY WE TOLD YOU THE CBI SAID IF YOU’RE NOT READY PARLIAMENT, WE ARE NOT WAITING FOR YOU -F26)

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

Prehistoric Man:  Thanks clare for the postings in the final article thread.  Like seeing Franks comments in blue to explain the articles.I was wondering though what does he mean when he says the cbi is not waiting for you?  Can someone elaborate?

Yooper75:  The CBI is saying they are not waiting for Parliament if they are not ready.  

Clare:  THE CBI CAN ACT INDEPENDENTLY IF THEY SO CHOOSE TO ON THE EXCHANGE RATE (ARTICLES ARE IN FA THREAD THAT DOCUMENT THIS)

FRANK HAS EXPLAINED THEY WANT TO BE “SHOULDER TO SHOULDER”… THIS WILL GIVE CONFIDENCE IN FRONT OF THEIR PEOPLE TO RELEASE THE NEW EXCHANGE RATE…BUT WHEN IS “ENOUGH IS ENOUGH?” THAT WILL REMAIN TO BE SEEN AS WE CONTINUE TO WATCH THIS ROLL OUT. IMO

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

Samson:  The Pentagon commemorates the 31st anniversary of Desert Storm and records four events that occurred for the first time

16th January, 2022

Sunday, the US Department of Defense website has recovered the 31st anniversary of the start of Operation Desert Storm, which was carried out under the leadership of the United States to expel the Iraqi forces that occupied Kuwait and former President Saddam Hussein refused to withdraw them.

The report of the US Department of Defense, translated by Shafak News Agency, said that this war, also known as the Gulf War, began on January 16, 1991, five months after Saddam’s occupation of Kuwait and his announcement of its annexation to Iraqi territory.

The report indicated that in response to Saddam’s actions, the United States and the allied countries began to mobilize their forces on Saudi soil, that is, in the period preceding “Desert Storm”, it was called “Operation Desert Shield”. In the early hours of January 16, 1991, the air campaign began with the participation of military aircraft and helicopters, destroying the Iraqi air defense systems, and destroying Iraqi radars with Hellfire missiles.

For 42 days, US and allied attack aircraft, along with transiting “Cruise” missiles, continued to launch attacks on Iraqi sites and supply lines.

On the other hand, the report pointed out that the Iraqi forces did not stand still. On January 29, 1991, they attacked the Saudi city of Khafji and took control of it, but the US, Saudi and Qatari forces expelled it from the city two days later.

According to the report, the ground offensive began on February 24, as US and allied forces penetrated deep into Kuwaiti and Iraqi territories, and the ground advance was so decisive that Iraqi forces surrendered in large numbers within hours.

By February 28, the US and allied forces defeated the Iraqi army, which it described as the fourth largest in the world, and liberated Kuwait.

The report stated that during the air and ground attacks, the American and allied forces destroyed more than 3,000 tanks, 1,400 armored personnel carriers, 2,200 artillery pieces and a myriad of other mechanisms.

The report considered that this war showed the importance of the 35 allies and partners who formed the coalition for the liberation of Kuwait, which also included some Arab countries.

According to the report, in this war, things and events were recorded for the first time:

– It was the first war in which television channels were broadcast live from the battlefronts.

The war witnessed the largest tank battle in the history of the United States.

– The “Patriot” missile system was used in the battle for the first time, and the Iraqi “Scud” missiles were confronted.

– It was the first time that GPS and precision-guided munitions were used on such a large scale. LINK

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

Samson:  Blue Water to open Office in Iraq

15th January, 2022

Blue Water Shipping’s Energy and Projects Division has announced plans to open an office in Iraq.

Thomas Bek, Global Director of Energy & Projects at Blue Water, said:

“Our customers in the energy sector operate internationally, and it is, therefore, a strategic objective that we continuously develop our organization to meet the demand and expectations of the market.

“We see significant synergies between the oil & gas sector and the renewables sector, as some of the companies that traditionally operate in oil & gas show an interest in diversification within renewable energy.“

The company did not say where in Iraq they would open the new office.  LINK

Samson:  Baghdad Operations: Two wounded by two explosive devices detonated in front of two banks in Karrada

01/16/2022 22:39:11

The Baghdad Operations Command announced that two people were injured in the explosion of two explosive devices in front of two banks in the Karrada area in the center of the capital this evening.

“The two wounded were slightly injured,” the operations commander said.

Two explosions occurred this evening in the Karrada area, and reports indicate that they were carried out with sticky bombs.  LINK

***********

Samson:  The President of the Republic: The recent explosions come at a suspicious time targeting civil peace

01/17/2022 00:32:43

The President of the Republic, Barham Salih, confirmed that the recent explosions that rocked Baghdad come at a suspicious time targeting civil peace.

Saleh said in a tweet on his Twitter account, “The recent bombings in Baghdad are condemned criminal terrorist acts that threaten the nations and stability of citizens and come at a suspicious time targeting civil peace and constitutional entitlement by forming a capable government that protects the Iraqis and guarantor of the independent national decision.”

The Security Media Cell had announced earlier on Sunday evening that “the security forces opened an investigation into two simultaneous incidents in the Karrada area of ​​Baghdad that occurred this evening. Al-Wathiq Square, and the two accidents resulted in light injuries to two citizens.  LINK

KTFA Members "News and Views" Sunday Afternoon 1-16-2022

KTFA:

PrehistoricMan:  I was just reading MMs post about .To open a bank branch in the UAE and or even in Saudi Arabia is to be international. That will require the REER.. (Real Effective Exchange Rate) Link So it seems according to that site the bank is already open.  So the reer should be any day now right?  

Samson:  2019 this happened.  “The Iraqi Bank of Commerce is the gate of Iraq in front of the outside world. We congratulate the management of the bank for this wonderful achievement by opening the first commercial bank outside the country and God willing the opening of the bank branches in all Arab and foreign countries from one success to another”

Don961:  Can Parliament approve the postponed economic files?

Sunday 16 January 2022  Baghdad: Nafeh Al-Naji

 The wheel of the fifth parliamentary session is about to turn its legislative sessions, amid growing needs for big laws, especially those related to the economy, investment, and the regulation of the economic situation for the Iraqi people. 

The oil and gas law, the law of public-private partnership, the law of companies, social security, taxes and others, are in dire need of legal adaptation and the issuance of new legislation to suit the current requirements. The economic expert, Dr. Abdul Rahman Al-Mashhadani, explained, “The new parliament has tasks that are not easy, especially in the field of economy, drafting and reading economic bills, and then putting them to a vote.” “The first of these tasks is to expedite the legislation of the 2022 budget and consider it the focus of the government’s daily work program,” he added. 

Al-Mashhadani added, “It is necessary to reconsider the set of laws that were enacted in the sixties, seventies, eighties and nineties of the last century, because they were laws that governed the public governmental sector, and we need to re-legislate and organize them in a manner consistent with the transition towards a market economy and giving the greater role for the private sector”. 

Analyst and media figure Salam Zeidan said: “The new parliament has demands represented in activating its oversight role to approve and implement lagging laws such as the Local Product Protection and Consumer Protection Law and other similar laws.” He added, “It is also necessary to monitor the work of the Border Ports Authority because its mismanagement during the past years It greatly affected the economy and wasted important money It will pay off the budget.” 

Legislation and the development of laws do not achieve the desired goals without implementation, activation and follow-up by government institutions. 

Their money is inside. 

The economist, Dr. Faleh Al-Zubaidi, said: “Many investors came to Iraq with their capital in order to establish their projects, but most of them returned to withdraw their money and leave the country.” These parties are a well-known issue in Iraq, and after despair descends on the investor, he is forced to withdraw his money and leave the country.” 

Al-Zubaidi stressed, “It is necessary to address and study these cases and develop effective solutions to them, and we suggest to the next parliamentary session to end the issue of administrative bureaucracy and red tape that angers and angers investors.”

Economic laws line up next to each other, and they are various laws that travel from one parliamentary session to another, pass on the legislators a first and second reading, and stop at the limits of voting with political will or the differences that affected the work of previous parliamentary sessions in taking their role in oversight and legislation. Will we witness in the coming months a movement Legislative active different from what happened in the past sessions?    LINK

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

Samson:  The Effect Of “Obscene” Wealth… Parliamentary Moves To Compel Al-Halbousi To Disclose His Financial Liabilities

16th January, 2022

Member of the Al-Fateh Alliance, Mahdi Al-Amerli, confirmed, on Sunday, that the second parliament session, during which the financial accounts of all deputies will be resolved in the parliament, will be resolved.

Al-Amerli said, in a statement to the “Information” agency, that “the next parliament session, during which we will demand the disclosure of the financial liabilities of all, starting with the Speaker of the House of Representatives, Muhammad al-Halbousi,” noting that “everyone is required to disclose the financial disclosure, and no one is excluded.”

He added, “After the extreme wealth and the high standard of living of some parliamentarians, we decided that the second session of Parliament will be the resolution of the financial receivables file.”

He pointed out, “The necessity of disclosing the financial receivables of all deputies, especially the Speaker of the Legislative Assembly, and activating the law, where did you get this from.”

And the representative of the state of law, Thaer al-Makhifi, had stated in a previous statement to the “Information” agency, “Everyone knows that the Speaker of Parliament, Muhammad al-Halbousi, came to the parliament from a simple family, and the outrageous wealth he owns today must be revealed to be the start of activating the law” from where. This is for you.”   LINK

Samson:  State Of Law: We Will Not Allow The Budget To Pass Without Changing The Dollar Exchange Rate

16th January, 2022
Representative of the State of Law coalition, Firas Al-Maslmawi, confirmed that his coalition and other representatives within the same direction will not allow the budget to be passed for the current year except after a reduction in the exchange rate of the dollar against the dinar, pointing out that changing the exchange rate and its rise did not achieve any benefit, and worked on starving people.

Al-Maslamawi told Al-Maalouma, “The general budget for the current year will not be passed in Parliament in the event that the dollar exchange rate continues as it is at the present time.”

He added, “The significant rise in the exchange rate has caused a lot of harm to the people, and it cannot be allowed to continue rising in the current year’s budget, especially since the price change by the government did not achieve any benefit other than starving the Iraqi people.”

And he indicated that “the change in the exchange rate has caused great damage, especially the poor class, and therefore it will not be allowed to continue rising, as there will be a movement towards independent representatives and supporters to reduce the price in order to proceed with it and not pass the budget according to the current rise.”   LINK

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

Samson:  The Central Bank of Iraq congratulates the International Development Bank on the occasion of the opening of its branch in the United Arab Emirates

16th January, 2022

His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Mokhief, received the Chairman of the Board of Directors of the International Development Bank, Dr. Ziad Khalaf, congratulating him, the bank and the Iraqi banking sector on this important banking achievement.

His Excellency expressed his sincere thanks to the brotherly Central Bank of the UAE for its confidence in the Iraqi banking sector and for giving it this opportunity to one of our leading banks, stressing the need for the bank to make efforts to live up to the level of confidence we place in it, and the Central Bank of the UAE has placed it in it as well, and for the rest of the banks to follow the same approach in the future.

Central Bank of Iraq

information Office

2022/1/16   LINK

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

Samson:  The government’s financial advisor clarifies the fate of the 2022 budget and the path of the white paper

15th January, 2022

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained, today, Saturday, the fate of the 2022 budget and the path of the white paper.

Saleh said, “The white paper is an economic constitution, which respects future economic life, it must respect what is stated in the paper.”

He pointed out that “the white paper needs an appendix to the policies and for the future on how to implement them. It is a correct and reform path. For the first time, it becomes an understanding and belief that the economy is reformed on the basis of a document that we call the economic constitution.”

He ruled out that “the next government will cancel the white paper and reforms and may amend and improve them or add other policies because they were established correctly.”

On the fate of the 2022 budget, Salih explained, “The budget awaits the integration of the legislative body and its committees, and I think that the first project that the new Iraqi parliament will study is the budget.”

 He continued, “The budget is now with the Ministry of Finance and is awaiting the formation of the legislative and executive bodies to send it to Parliament,” stressing that “the vision exists and the next government will study it, and the next parliament will set its vision under the constitution.”

On the first of last November, the Ministry of Planning revealed the features of the 2022 budget. Undersecretary Maher Hammad said, “The general budget for the year 2022 has positive points, including the unification of customs fees and work on preparing an investment budget for (3) years and not for one year to ensure continuation of projects.

 And he continued, “The budget also included addressing the deficit that might occur if it is approved, by preparing a budget that is not dependent on a large amount of oil, because oil prices are usually variable.”   LINK

MilitiaMan and KTFA Members Saturday PM 1-15-2022

KTFA:

MilitiaMan:  More reality hitting the street and outside their borders..

Samson:   With modern features… Al-Rafidain intends to launch a credit card

01/14/2022 19:40:18

Al-Rafidain Bank announced, on Friday, the launch of the “Credit Card” credit card.

A source in Al-Rafidain told {Euphrates News} that “the bank will soon launch the credit card, with modern features.”

He added, “The card will allow the possibility of purchasing from places of sale {pos} and ATMs.” LINK

Zeeman:  correct mm reality hitting the streets near and far except for one thing… they must raise the value…. under a penny will not do…. it is way past time to change the value…. as the saying goes money talks no one walks.

MilitiaMan:  OF course we all know that a REER (Real Effective Exchange Rate) is what we are looking for. Anything less will not work.

As for way past time, is it? Or is it possible that it only feels like that to us?

We can see there is interconnectivity that is to include 100s of countries that are going to be affected by an exchange rate change. Did you ever think that this has been an evolutionary experience for not just Iraq, but the region and world at large that is extremely new and complex?

It is not so new that is just getting started, as that is not the case as it has been in the works for upwards of 18 years now, ebb and flow of course has been the theme. But, now with the new interlinking of systems like the BUNA, SWIFT (ISO20022) and TIPS, we can see there is a lot we didn’t have and didn’t know.

To open a bank branch in the UAE and or even in Saudi Arabia is to be international. That will require the REER.. Plain an simple imo..

So, the CBI needs to talk and walk all at the same time.. imo.. It’s coming.. imo.. ~ MM 

**********

Economist: The Current Year’s Budget May Recognize 135 Trillion Dinars

14th January, 2022

The economic affairs specialist, Muhammad Ali al-Moussawi, explained that the current year’s budget may be approved at an amount of 135 trillion dinars, pointing out that the dollar exchange rate needs to be modified according to what the next government sees.

Al-Moussawi told “Information”, “The budget may be approved in the amount of 135 trillion dinars, but the dollar exchange rate may be subject to the policy of the next government and what it desires, at a time when total public spending reaches 130 trillion dinars.”

He added that “the price of a barrel of oil, and according to what has been achieved from revenues and a rise in prices, may be put in the budget by more than 60 dollars per barrel, as this is appropriate in light of the developments in prices and the increase in production decided by OPEC.”

And he indicated that “the adjustment of the dollar exchange rate has become an urgent need, as this requires a move from the next government, and the support of some ministries in order to reduce the suffering of the poor classes, especially since the opportunity is ripe for that.”   LINK

Samson:  Oil closes with high gains, exceeding $ 86

01/15/2022 10:43:34

Oil prices closed on significant weekly gains, supported by concerns about supplies and political concerns in Libya and Kazakhstan, and the decline in US crude stocks to the lowest level since 2018.

Brent crude closed in its last session on Friday with an increase of 1.59 dollars to reach 86.06 dollars, and achieved a weekly profit of 4.31 dollars, or 5.27% in a week.

The US West Texas Intermediate crude was also settled at a rise of $1.70 to reach $83.82 a barrel and achieved a weekly profit of $4.92, or an equivalent rate of 6.24%.

Oil prices rose at the settlement on Friday, as the market was affected by concerns about supplies due to the unrest in Kazakhstan, production interruptions in Libya and the decrease in US crude stocks, despite America’s agreement with China to withdraw from its strategic oil stocks near the Lunar New Year holiday that begins on February 1, in The framework of a plan launched by Washington to reduce global prices.  LINK

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

Samson:  Vietnam’s GDP to bounce back in 2022 at 5.5%: World Bank

14th January, 2022

Việt Nam’s GDP growth has been forecast to accelerate at a 5.5 per cent rate in 2022 from a dismal 2.58 per cent during the previous year, according to a report released by World Bank yesterday. 

Fiscal deficit and debt are expected to remain sustainable, with the debt-to-GDP ratio projected at 58.8 per cent, well below the limit set by the National Assembly. 

World Bank’s forecast for the Southeast Asian economy is to be taken with the usual caveat that the COVID-19 pandemic will be brought under control at home and abroad. According to the report, the country’s services sector will gradually recover as consumer and investor confidence firms, while the manufacturing sector benefits from steady demand from the US, the EU and China.

The World Bank, however, warned of possible new variants of the virus, which may prompt renewed social distancing measures, hampering economic activity. Weaker-than-expected domestic demand could weigh on the recovery. 

In addition, Việt Nam’s trading partners are facing dwindling fiscal and monetary space, potentially restricting their ability to further support their economies if the crisis persists, which in turn could slow the global recovery and weaken demand for Vietnamese exports.

The World Bank called for careful policy responses that may help mitigate risks including temporary reduction of VAT rates and more spending on health and education, which stimulate domestic demand. 

Support for affected businesses and citizens should be more substantial while social protection programmes could be more carefully targeted and efficiently implemented to address the severe and uneven social consequences of the crisis. Heightened risks in the financial sector should be closely monitored and addressed proactively.

Greener trade

The report also called for Việt Nam’s trade to become less carbon-intensive. In the past two decades, trade has accounted for one-third of the country’s total greenhouse gas emissions and pollution.

“Trade will be a key component of Việt Nam’s climate actions in the years to come,” said Carolyn Turk, World Bank Country Director for Việt Nam.

“Promoting greener trade will not only help Việt Nam follow through on its pledge to reach net-zero emissions in 2050 but will also help it keep its competitive edge in international markets and ensure trade remains a critical income and job generator,” she said. 

While the country has started to decarbonise activity associated with trade, more needs to be done to respond to mounting pressures from main destination markets, customers, and multinational companies for greener products and services.

The report recommends the Government act on three fronts: facilitate the trade of green goods and services, incentivise green foreign direct investment, and develop more resilient and carbon-free industrial zones.  LINK

MilitiaMan "What We Know" Friday Night 1-14-2022

KTFA:

MilitiaMan:  There is to be freedom of capital movement. (See articles below) That is something that has not been around for some time. Freedom of capital is a necessary thing when it comes to the private sector.

We can see that there are preparations being made for cross border payments and there are 200 participants representing central banks, institutions, etc..

All preparing to be clearing with interlinking platforms of the BUNA, SWIFT and TIPS systems.. This is to be done shortly and on many continents.

It is like the last walk through to make sure everyone is on board and knows the system and it’s applications, etc..

Take a look at what we know. The UAE has as of 01/01/2022 interlinked their work week with the west. Let that sink in. It is a big deal.

MilitiaMan Cont…..So by Iraq opening a bank branch under the umbrella of the CBI, suggests that a pattern has changed. 

The branch would be by extension on the same work week schedule with the same reporting requirements as western banks.

To date, we never did see the Saudi Arabia bank branch open. It was thought it hadn’t opened because Iraq was not 100% Article VIII compliant yet.

The reason the owner mentioned was they were waiting on the exchange rate.. imo

Well today is Friday and they tell us they opened an Iraq bank branch in the UAE. A high financial arena. Why would they open a branch in a high financial arena with a .00068493 currency?

They didn’t do that with Saudi Arabia… At least, that we know of yet, anyway.

What may be happening is that the bank opening, the preparations, being made with the BUNA, SWIFT and TIPS systems to be interlinked, is the last thing to be placed into the system the REER (Real Effective Exchange Rate) for the IQD?

I sure hope so. Lets see what the coming days brings us.

imo All looks very very very good.

The private sector and or market economy will require a REER.

The USA embassy has today commented on the support for Iraq to do international trade. Even with China. So, lets see what gives.

 My view is we are very close to seeing it.

Follow the money.. 200 entities, central banks, etc., are the money.. ~ MM

~~~~~~~~~~

The Arab Monetary Fund holds an interactive workshop on the latest developments related to the immediate cross-border payment service at the “Buna” Platform for Arab Payments

14th January, 2022

The workshop reviews the frameworks and methods used to reduce the risks of the other party in payment systems

The workshop will host more than 200 participants from representatives of central banks, regional and global financial and banking institutions

Today, Thursday, January 13, 2022, the Arab Monetary Fund will hold a “remote” workshop that will review the efforts of the “Buna” platform for Arab payments, which is affiliated with the Regional Institution for Clearing and Settlement of Arab Payments owned by the Fund, regarding the launch of the platform’s immediate payment system. 

The platform’s efforts deal with enhancing cooperation with the network of banks participating in the platform regarding configuring and facilitating its connection with the new system for instant payment services at “Bunny”. 

In addition, the workshop reviews the frameworks and means used to reduce the risks of the third party in the instant payment systems.

During this workshop, the Buna Platform for Arab Payments and the SWIFT Association present a detailed presentation on the steps to be taken by the participating banks in preparation to start using Buna’s services for instant cross-border payment, and to benefit from the advanced solutions it provides in the field of payments. Also, Buna’s compliance team will talk about the various approaches to mitigating third-party risks.   

More than 200 participants representing central banks, financial and banking institutions, payment service providers and financial services from the Arab region and abroad will participate in the workshop, to learn about these important and vital topics and follow up on the development of the business of the Buna platform and its future plans.

On this occasion,  Mr. Mahdi Manea, CEO of the Regional Institution for Arab Payments Clearing and Settlement (Bunni Platform for Arab Payments) said: The “Buna Payments” platform is moving forward with the implementation of its strategic plan aimed at launching cross-border instant payment services, and we are cooperating closely with the “Swift” Association to provide the required support to our list of participating banks to facilitate and speed up their accession to our instant payment system and take advantage of the features it provides This innovative service.

The success of the first-of-its-kind joint experience of the interconnection between the Arab Payments Platform “Buna” and the European System for the Settlement of Instant Payments (known as “TIPS”), constitutes an incentive for us to persevere in making instant payment services a major means of cross-border payments.

We are also keen to contribute to activating the ability of various entities operating in the payments industry to use this advanced service and to benefit from the effectiveness and added value that it provides.”

Manea added  : “Reducing the risks of the other party is an influencing factor in the safety and effectiveness of the payment systems’ operation. Based on this conviction, the “Buna” platform for Arab payments has succeeded through its keenness to implement strict measures in the field of compliance and thanks to its close and continuous dialogue with the regulators in the Arab region and outside it, to provide a safe and low-risk work environment for its participants.

It is worth noting that the “Buna” platform constitutes an integrated system specialized in providing clearing and settlement services for payments in Arab and international currencies, aiming to enable financial and banking institutions in the Arab region and beyond, including central and commercial banks, to send and receive inter-payments throughout the Arab region and abroad in a safe, reliable, affordable and highly effective manner. 

Buna offers participants state-of-the-art payment solutions that comply with international standards and principles and international compliance requirements. “Buna” contributes to enhancing opportunities for economic and financial integration in the Arab region and supporting investment links with trading partners in various continents. 

It is noteworthy that participation in the platform is available to all banks and financial institutions that meet the criteria and conditions for participation in it, foremost of which are the standards and procedures for compliance aspects.  LINK

Opening a branch of the first Iraqi bank in the UAE

14th January, 2022

Today, Friday, the International Development Bank announced the opening of a branch for the first Iraqi bank in the Emirates.

A statement by the Development Bank, received by the Iraqi News Agency (INA), stated that “it obtained a license from the Emirates Central Bank to open the first regional branch in the Emirate of Dubai and under the umbrella of the Central Bank of Iraq.”

He added that “this bank is the first private bank in the United Arab Emirates to be a center and a starting point for strengthening joint cooperation between the two countries, and activating financial and commercial exchange to serve the Iraqi economy in its public and private sectors.” LINK

~~~~~~~~~~~

Al-Kazemi’s advisor : Iraq has financial space at the present time

14th January, 2022

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Friday, that raising Iraq from the list of high risks encourages the entry of capital into the country, while noting that Iraq’s financial rating is high and has the ability to pay off debts and confront them

Saleh said, to the Iraqi News Agency (INA): “The situation of foreign debt is comfortable and decreasing, and there is financial space in Iraq at the present time,” noting that “what must be paid does not exceed 20 billion dollars, and this has allocations in the budget

He added that “Iraq’s rating is high, and this classification did not come from a vacuum and we have the ability to pay off debts and confront them,” noting that “the neo-liberalism in the world liberated the world’s economies, including Iraq, so liberating the economy and financial transfer in the world daily is about 5 trillion dollars, and this The exchanges include problems, economic crimes, money laundering, and others

He pointed out that “Iraq was infected with suspicions of money laundering due to the occupation of ISIS, which is a terrorist force and has external financing

He stressed that “Iraq has proven that it is free of money laundering and has been raised from the list of high risks to natural, and this is a very important matter that gives freedom and liberalism to banks to work in global environments, the ability to immunize, interest and low cost, which encourages the entry of capital into the country without problems, and this is positive for the benefit of Iraq

And the Ministry of Foreign Affairs announced, last Monday, that the European Union removed the name of Iraq   LINK

Thursday Night KTFA CC "The CBI IS Telling Everyone" 1-13-2022

KTFA

Thursday Night KTFA CC

Frank26:  1-13-22……..THE CBI IS TELLING EVERYONE

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

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

R.E.E.R. > Real Effective Exchange Rate

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=JsapPPq6jvo

A few articles highlighted on tonight’s video:   

FINAL ARTICLE #1424

Frank26 “IRANIAN RIAL… TURKISH LIRA… MOVE OVER FOR THE LEBANESE POUND ALL AGAINST THE DOLLAR IN ORDER TO PLAY FAIR… TAKE NOTE ALL:  THE MIDDLE EAST COUNTRIES CURRENCIES ARE DESPERATELY WAITING FOR THE IRAQI DINAR TO FORM THE MIDDLE EAST BASKET”…..F26

A “record” collapse of the Lebanese pound against the dollar

01/11/2022 13:56:34

The Lebanese pound fell today, Tuesday, to its lowest level ever, as the dollar exceeded 33,000 pounds for the first time since the beginning of the economic crisis in 2019.

According to websites and mobile phone applications to track the black market price, the dollar recorded today, Tuesday, 33,100 pounds for sale, and 33,000 pounds for purchase.

It is noteworthy that the official exchange rate of the Lebanese pound has been fixed since 1997 at 1,507 pounds to the dollar, but the market value of the national currency fell by more than 95% within two years of the economic crisis.

The minimum wage is now less than 23 dollars, while the prices of fuel and many basic commodities for which subsidies have been lifted, continue to rise.  LINK

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

FINAL ARTICLE #1425

Frank26:  “‘NYET’ SORRY RUSSIA YOU CAN NOT JOIN THE ME BASKET”….F26

Will we witness ‘currency wars’ in 2022?

11th January, 2022
The Russian economic expert, Yulia Vinogenova, indicated that there is a high probability of a currency war between the euro and the dollar, and the depreciation of the ruble during the current year.

The expert said: “If the geopolitical risks materialize, in particular, the escalation of the tone of sanctions against Russia and a new round of conflict with Ukraine, we can expect a relative rise in gas prices, which the European Union will have to deal with. This may lead to a strengthening of the dollar and a weakening of the euro.” At least in the first quarter of 2022.

The expert added that the main tool in currency wars is the devaluation of national currencies compared to foreign currencies. With regard to the Russian ruble, the expert expected that the value of the Russian currency will decrease by 5% – 6% by mid-2022.

For his part, Adviser to the Director General of Macroeconomics of Otkritie Broker, Sergey Khastanov, expected the dollar to rise significantly against the currencies of developing countries during the current year.

The economist added that the main factors behind the rise in the dollar exchange rate are the tightening of the monetary policy of the US Federal Reserve system, and the potential outflow of capital from emerging markets. According to Khastanov’s estimates, the tightening of monetary policy will slow the growth of the global economy, and the economy of the United States in particular.  LINK

FINAL ARTICLE #1426

Frank26:  “CBI STUDIES THE ME BASKET”….F26

 Study analyzing the impact of the depreciation of the Turkish lira on the Iraqi economy

11th January, 2022

Study analyzing the impact of the depreciation of the Turkish lira on the Iraqi economy

To view the study…  click here
https://cbi.iq/news/view/1916

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

FINAL ARTICLE #1428

Frank26:  “I LOVE IT, I LOVE IT, I LOVE IT”….F26

Economist: The Government Has No Justification To Continue Raising The Dollar Exchange Rate

12th January, 2022

The economic expert, Ihsan Al-Kinani, confirmed that the government does not have any justification to continue to raise the exchange rate of the dollar in the local markets, pointing out that oil prices and financial abundance make it imperative for the next government to take measures to reduce the exchange rate.

Al-Kinani told Al-Maalouma, “Oil prices exceeded 80 dollars per barrel, at a time when Iraq was able to overcome the financial crisis that occurred in 2020, which pushed towards raising the exchange rate of the dollar, and today the need for that is no longer needed.”

He added, “Iraq has all the financial capabilities and qualifications that necessitate a reduction in the exchange rate, especially after the completion of Kuwait’s compensation and the rise in oil prices,

Frank26:   (HOW MANY TIMES AND HOW MANY DIFFERENT WAYS DO YOU HAVE TO BE TOLD TO RAISE THE VALUE OF YOUR CURRENCY -F26)  as well as the increase in oil production by OPEC after its last meeting on Tuesday of last week.”

And he indicated that “the next budget will be decisive, either to continue starving the people, (PROGRAM RATE -F26) or to return things to their previous status by reducing the exchange rate and specifying it in the budget.” (IN OTHER WORDS SPIT IT OUT IN THE BUDGET & THE WHITE PAPERS -F26)

LINK

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

FINAL ARTICLE #1429

Frank26:  “HOOVER AND DYSON ARRIVED IN IRAQ”….F26

Including a current minister.. 98 arrest warrants and summonses were issued against senior officials in December

12th January, 2022

The Federal Integrity Commission announced, on Wednesday, the issuance of 98 arrest warrants and summonses during the month of December, noting that these orders were issued against 85 senior officials, including a current minister.

The investigation department of the commission said, in a statement received by Mawazine News, that “the arrest and recruitment orders issued by the judicial authorities came against the background of cases investigated by the commission’s investigation directorates and offices in Baghdad and the provinces and referred them to the judiciary,” noting that “98 arrest and recruitment orders were issued against Senior officials of the highest ranks for the period from (1-31/12/2021), including (21) arrest warrants and (77) recruitment orders.

The department stated, “The orders included a current minister, a former minister, three former ministers, a former undersecretary and nine former deputies, as well as current governors, (8) former governors and (5) former, and the orders also included (21) current director-general and (15) directors. A year ago and seven before, while 12 orders were issued against members of provincial councils. 

LINK

Frank26, MilitiaMan and more....Thursday Afternoon 1-13-2022

KTFA:

Frank26:  “I LOVE IT, I LOVE IT, I LOVE IT”…(HOW MANY TIMES AND HOW MANY DIFFERENT WAYS DO YOU HAVE TO BE TOLD TO RAISE THE VALUE OF YOUR CURRENCY.F26

Samson:  :  Economist: The Government Has No Justification To Continue Raising The Dollar Exchange Rate

12th January, 2022
The economic expert, Ihsan Al-Kinani, confirmed that the government does not have any justification to continue to raise the exchange rate of the dollar in the local markets, pointing out that oil prices and financial abundance make it imperative for the next government to take measures to reduce the exchange rate.

Al-Kinani told Al-Maalouma, “Oil prices exceeded 80 dollars per barrel, at a time when Iraq was able to overcome the financial crisis that occurred in 2020, which pushed towards raising the exchange rate of the dollar, and today the need for that is no longer needed.”

He added, “Iraq has all the financial capabilities and qualifications that necessitate a reduction in the exchange rate, especially after the completion of Kuwait’s compensation and the rise in oil prices, as well as the increase in oil production by OPEC after its last meeting on Tuesday of last week.”

And he indicated that “the next budget will be decisive, either to continue starving the people, or to return things to their previous status by reducing the exchange rate and specifying it in the budget.”

LINK

MilitiaMan:   I hope we all can see the road map that they are presenting to the world. Directly speaking out that they have no justification to in raising the dollar exchange rate.

They have the opposite in mind.

They are telling us the 2022 budget is ready and that they have the capabilities and the qualifications to reduce the exchange rate whereby, to create an environment to benefit the citizens with a clear path for investment projects.

Yasser A Metwally from the GCC is telling Iraq it is time to adjust the exchange rate to enhance value of the Iraq Dinar against the Dollar.

The CBI has told us they are to integrate the Iraqi Banking System with the world. Well looks like they have come along way in that regard and state so.

They even now have the Kurdistan Regional Government linked to the global banking system.

With all that said, having met the compensation obligations with Kuwait, having inter linked Iraq’s Banking System to the Global System, having the borders automated for taxes, tariffs, customs and fees, etc., should make everyone see the picture they are painting.. It is an international one.. A very welcomed one..

 I surely like where we are.. imo ~ MM

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

Saleh said that “the draft 2022 budget is ready, and for the first time it contains a clear plan for investment projects and built for a period of three years, and each of these three years includes allocations so that there is no commitment and delay,” revealing that “the 2022 budget was built on the basis of an oil price of 50 Dollars per barrel, although the current oil prices have risen to 80(+) dollars per barrel.

Saleh pointed out that “Iraq has great prospects by its integration into the global economy,”

———————–

Sunday 09 January 2022

Yasser Al-Metwally

It is time to adjust the exchange rate to enhance the value of the national currency (the Iraqi dinar) against the dollar. ~ GCC

Central Bank of Iraq
Media Office 
December 21, 2021
 
LINK

It is hoped that ending the payment of compensation will contribute to removing Iraq from Chapter VII, as well as its impact on re-integrating the Iraqi banking system with the global banking system and benefiting from the financial abundance that will be achieved.

———————–

She added that “the Iraqi government wants to achieve two goals, the first is a message of friendly signal to Kuwait of its commitment to implement its commitments, and the second is to re-integrate the Iraqi banking system with the global banking system.”

On November 21, 2021, the Central Bank announced the payment of the last batch of compensation to Kuwait amounting to (44) million US dollars, expressing the hope that the termination of the payment of compensation would contribute to removing Iraq from Chapter VII.

LINK

————————-

 “government reforms, including public finances, services, contract procedures, border crossings, and the transparency of oil sales that Deloitte is reviewing, have made us stronger in our fight against corruption, as we have strengthened oversight of our revenues by linking the Kurdistan Regional Government to the global banking system, and now with increasing looming on the horizon for EU financial and investment cooperation, banking sector reform and support will be much easier to provide services to the public.”

LINK

Samson:  Specialist Calls On MPs To Fulfill The Return Of The Dollar Exchange Rate

13th January, 2022

The expert in economic affairs, Basil Al-Obaidi, called, on Wednesday, for members of the House of Representatives in the current parliamentary session to fulfill their promises they made to themselves regarding the follow-up of the file of the exchange rate of the US dollar against the Iraqi dinar and seek to return it to its previous era.

Al-Obaidi said in a statement to the “Information” agency, that “the members of the House of Representatives in the current session, and before winning the parliamentary seats, made a pledge to adjust the exchange rate of the US dollar against the Iraqi dinar, which affected the poor and greatly affected large layers of the people.”

He added, “The government’s decision, represented by the Ministry of Finance, to suddenly raise the exchange rates of the dollar against the dinar created a real economic crisis for the Iraqi citizen, resulting in a significant increase in the prices of most of the materials used to be purchased.”

Al-Obaidi indicated, “The Ministry of Finance is responsible for this decision, which it planned and directed to implement at a time when international oil prices and the reserves of the Central Bank have witnessed a decline, pointing out that “cash reserves have become promising, and oil prices have also begun to gradually rise.”

He pointed out that “the rise in international oil prices and the financial abundance that resulted from it made it imperative for the next government to take measures to reduce the exchange rate below the current or return it to its previous era.”

The rise in the price of the US dollar against the Iraqi dinar exacerbated the suffering of large layers of society, which prompted citizens to austerity to manage their affairs, amid difficult living conditions.  

LINK

ATPInfinity:“before winning the parliamentary seats, made a pledge to adjust the exchange rate of the US dollar against the Iraqi dinar“

MilitiaMan and KTFA Members "News and Views" 1-12-2022

KTFA:

Samson:  The fastest government”… An informed source: Announcing the cabinet line-up next March

12th January, 2022

An informed political source revealed, on Wednesday, that the procedures for forming the next government are proceeding in full swing, and it is hoped that the final formation will be announced next March, suggesting that some forces of the coordination framework may join the Sadrist bloc if consensus cannot be reached. Between the frame and the chests.  LINK

Tivon: An “Informed Political Source” doesn’t define edict or decree or any revered position of power & authority to dictate any definitive statement in regards to political blocs in the arena from which these figures operate on the day to day basis to form a reliable opinion that clarify what or when something should or would be done.

Therefore anyone attempting to shape a narrative around this notion should not be adhered to under any capacity whatsoever no matter the source of the hearsay information on the matter.

The Central Bank of Iraq made if very clear as to their institutional motives to potentially release the exchange rate prior to the formation of the government as however long that would take has no bearing on this financial incentive to do so.

Whether it is this month or next March is not of any concern to the CBI. I do not know why people who are not even encouraged to show their faces can make statements on behalf of an governing body without any disclaimer as to verifying any notable resources that one can look into to validate their claims is taken serious by students of Frank and his team who educated us on who to listen to as shown throughout the many articles about who controls the chaos on the court.

We are far to ensconced into the political soap opera coming from these ghostly apparitions floating above the GOI whispering sweet nothings of confusion and delusion to impart their unsolicited comments as to what to expect from the prospective cabinet.

Stick to what can be published and proven. 

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

MilitiaMan:  She added that “the Iraqi government wants to achieve two goals, the first is a message of friendly signal to Kuwait of its commitment to implement its commitments, and the second is to re-integrate the Iraqi banking system with the global banking system.”

On November 21, 2021, the Central Bank announced the payment of the last batch of compensation to Kuwait amounting to (44) million US dollars, expressing the hope that the termination of the payment of compensation would contribute to removing Iraq from Chapter VII.  LINK

 “government reforms, including public finances, services, contract procedures, border crossings, and the transparency of oil sales that Deloitte is reviewing, have made us stronger in our fight against corruption, as we have strengthened oversight and oversight of our revenues by linking the Kurdistan Regional Government to the global banking system, and now with increasing looming on the horizon for EU financial and investment cooperation, banking sector reform and support will be much easier to provide services to the public.”  LINK

***********

MilitiaMan:  Tivon,  Thank you for you observation and your input.

If we use data to support our thinking, it seems to be of a more grounded approach. Tangible, if you will. Thes links provide support that the CBI is working on what they are to be concerned with and that is not politics, it is banking and finance.

They have been working to re-integrate Iraq into the global banking system and from what we see in the immediate above link they linked the Kurdistan REgional Government to the global banking system.

They don’t say they activated the system but, they did link.

CBI would have done that for them too. They have apparently had Deloitte working to that end on the matter as well. Article VIII compliance 100% is where I eyes are now.

The above statements suggest that they have a goal, are achieving that goal and a REER (Real Effective Exchange Rate) is to be expected from the end result. imo, ~ MM

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

Tivon:  Correct and direct to the point of the interlinked banking system with international markets that has been made to establish a more unified market for East & West.

 Which is why I suppose the CBI suggesting releasing the new exchange rate prior to the formation of the government simply because the groundwork is now ready to launch what has been built on top of the template which is “The REER”.

They are no longer on the EU blacklist. And is now out of CH.7. What else is there to wait for?

We know the current oil surplus has uprooted the reasoning in raising the price of the dollar. We should be exchanging as of now. So I am in alignment with the CBI as to independently moving ahead without the GOI.

Forging ahead unabated by political blocs to save their citizens and country is the best move to make for all involved. Imo.

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

MilitiaMan:  Btw, Kahdimi is in Najaf, with Sadr, CBI Governor, ministers etc., today.. Sadr addressed his desire to change the exchange rate months ago..

With the continuity we see of late with the EU lifting the country from the high risk status, they have the borders interlinked with automation for taxes, tariffs, customs and fees, the credit card out today for cross border use for citizens all adds support to the progress is upon us.

Also, to note the USA is advertising that new currency and coins are coming out and within days.. imo.. ~ The new system is going to be global.. Transparency is in the new system…. block chain…. Exciting times.. imo ~ MM

Samson:  Economist: The Government Has No Justification To Continue Raising The Dollar Exchange Rate

12th January, 2022

The economic expert, Ihsan Al-Kinani, confirmed that the government does not have any justification to continue to raise the exchange rate of the dollar in the local markets, pointing out that oil prices and financial abundance make it imperative for the next government to take measures to reduce the exchange rate.

Al-Kinani told Al-Maalouma, “Oil prices exceeded 80 dollars per barrel, at a time when Iraq was able to overcome the financial crisis that occurred in 2020, which pushed towards raising the exchange rate of the dollar, and today the need for that is no longer needed.”

He added, “Iraq has all the financial capabilities and qualifications that necessitate a reduction in the exchange rate, especially after the completion of Kuwait’s compensation and the rise in oil prices, as well as the increase in oil production by OPEC after its last meeting on Tuesday of last week.”

And he indicated that “the next budget will be decisive, either to continue starving the people, or to return things to their previous status by reducing the exchange rate and specifying it in the budget.”

LINK

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

Samson:  Iraq Announces All Of Its Foreign Debts After Clearing The Kuwait Bill

12th January, 2022

The Prime Minister’s economic advisor, Mazhar Muhammad Salih, announced, on Wednesday, that the total debts owed by Iraq amount to about 20 billion dollars, stressing that they are paid according to timetables and have allocations in the general budget, among the benefits of Iraq’s exit from the list of high-risk countries. in money laundering and terrorist financing.

Salih said in an interview seen by / the information /, that “raising Iraq’s name from the list of high-risk countries is an important achievement for financial integration with Europe, because it is the global financial center, which will give Iraq an opportunity to have its financial dealings wider and reduce the costs of credit risks, and it will be dealing with bank correspondents is easier.”

He added, “This positive plan has made Iraq a part of the international financial environment. As for Iraq’s remaining on the list, it is evidence of the siege. Britain preceded last year by raising the name of Iraq and today the European Union, which is a great victory for Iraq and the financial and banking sector, and before raising the name of Iraq from the list, all of Iraq’s transactions were taken into account of usury and fear of it, which affected the cost of trade and finance and the disruption of financial transactions.” Saleh pointed out that “the European Union had doubts, and they did not exist. Crimes and violations exist in all parts of the world.

As for Iraq’s transactions, they are clean and subject to compliance, because the transfer of funds is subject to many criteria, and every amount that comes out of Iraq is informationally filtered,” noting that “there is international cooperation between Iraq and the anti-money laundering bodies in the world and with the international financial team responsible for these issues, and Iraq is an important member of this team, and all these points are positive and are in the interest of Iraq and improve its integration into the global financial and banking environment.”

He explained, “Iraq has completed compensation for Kuwait and paid $52.4 billion, and all the million debts go back to the debts before 1990 and were resolved in the (Paris Club) agreement signed by Iraq in 2004 and it has written off 80% or more of Iraq’s debts, and the countries that its debts with Iraq were not settled prior to 1990, as these debts have eroded with the passage of time and 40 years have passed, noting that “some foreign debts were generated during the war on (ISIS), and the total debts owed by Iraq amount to about 20 billion dollars and are paid according to timetables and have Allocations in the general budget.   LINK

MilitiaMan "All Good News" Tuesday PM 1-11-2022

KTFA:

MilitiaMan:  I like the sounds of this article,(see below)  as it is in past tense. A good sign that there is consensus between Baghdad and Erbil.

The linkage of the Kurdistan Regional Government to the global system is very telling. They are achieving success today and are saying that they will look back to today, as a turning point for a prosperous global future for the people of Kurdistan.

This is a good sign of change to come. The borders are at the stage of automation and we saw yesterday the closed circuit meeting on the activation of them to come..

All good news.. imo ~ MM

Samson:  Masrour Barzani on the European Union’s decision: It will facilitate banking sector reform

10th January, 2022

The Prime Minister of Kurdistan Regional Government, Masrour Barzani, welcomed today, Monday, the European Union’s decision to remove Iraq from the list of high-risk countries in money laundering and terrorist financing, noting that this decision will contribute to facilitating the reform of the banking sector.

Barzani said in a statement received by Shafak News Agency; “I very much welcome the European Union’s decision to remove Iraq from the list of countries at high risk of money laundering.” He added, “The Kurdistan Regional Government and the Federal Government in Baghdad have worked, in recent years, with our partners in the international community to target sources of terrorist financing and criminal networks, especially illegal currency auctions and informal financial companies.”

And he indicated that “government reforms, including public finances, services, contract procedures, border crossings, and the transparency of oil sales that Deloitte is reviewing, have made us stronger in our fight against corruption, as we have strengthened oversight and oversight of our revenues by linking the Kurdistan Regional Government to the global banking system, and now with increasing looming on the horizon for EU financial and investment cooperation, banking sector reform and support will be much easier to provide services to the public.”

He added, “For us in Kurdistan, this is a personal matter, as ISIS tried to undermine our way of life, but it failed to do so, and for this reason we have placed ourselves at the forefront and center of international efforts to eradicate its sources of funding through the (ISIS Working Group) of the International Coalition.”

Barzani continued, “We have also made these changes for ourselves and for our future, and if we had not made these structural reforms to our economy and tackle illegal trade, we would not have seen this opportunity presented to us with our friends in Europe.”

He stressed that “this success that we are achieving today, and with Europe’s recognition of the joint efforts in Erbil and Baghdad, it is imperative that we go further to ensure a bright and prosperous economic future for our children,” expressing his confidence that “we will look back today as a turning point in the path of Kurdistan.” To fold the past, towards a prosperous and peaceful global future for the people of Kurdistan.”

~~~~~~~~~~~~

Barzani: Joint work between Baghdad and Erbil contributed to Iraq’s exit from high-risk countries  LINK