MilitiaMan and KTFA Members "Caretaker Government" 4-9-2022

KTFA:

Samson:  The Supreme Judiciary: There is no constitutional provision related to the term caretaker government

9th April, 2022

The Supreme Judicial Council confirmed today, Saturday, the absence of a constitutional text regarding the caretaker government.

The head of the Supreme Judicial Council, Faiq Zaidan, said, according to the official agency, that "there is no constitutional text related to the term caretaker government, just as there is no explicit text of the term emergency government."

The discussion is taking place during the current period and after the end of the period specified for forming the new government, by going to the caretaker government or an emergency government.  LINK

DeepWoodz:  This clears up a lot of the disinformation that’s been happening for years. Now it’s on record that the current government is not a crippled, weak, or powerless government. In fact it’s the best government they’ve ever had, and the one that will get credit for bringing Iraq back from the dark ages. 

Godson:  Imo... This would put everything on the Cbi( and other entities) besides the government... Imo the government may never be as straight as others would want like ours.... Can the CBI finally take floor and change Iraq...

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MilitiaMan:  Good day to you Deepwoodz. I agree with you on that.. There has been disinformation and plenty of it. Not only when it comes to the ability of the government to help with crisis, but, also with the ability to allow for the present caretaker government to implement budgets.

As budgets can be considered to be an integral part of the society's needs to function and with out a budget in place it can be considered to be an economic emergency, that hurts the citizens, therefore, the caretaker government has the powers to satisfy their needs.

The 2022 budget apparently fits the circumstances in the present time, as an emergency issue. That budget could be on the table this next week.

The automation of the borders apparently are ready to go digitally. The BUNA plat form is ready and tested. The dust that may need to settle is settling. That dust imo is the political side of things.

We are seeing the pressure being put out to get the government sorted. They have had three options. One option has passed as of the 04/06/2022. The remaining two are underway and at play now. One of them is to keep negotiating while even they are out of the constitutional time frame.

 The talk was that even that they are out of the constitutional time frame a few more days to get it right may not be so bad. The point was to get it right.

The last option is the approved by the court ability to use the emergency government "caretaker" for up to a year.

Either way the last two options are in the citizens favor and therefore in ours.. So the dust looks to be in a place for settlement. 

 As does the 2022 budget is to be presented in short order. Possibly as early as next week. They have it all in our faces now.. Imo... I like where we are.. ~ MM

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LINK

Head of the Supreme Judicial Council: The Iraqi constitution authorizes the "emergency government"

LINK

President of the Republic: There is an urgent need today to meet the Iraqis' demand for rational governance

Salih stressed that "the need is urgent today to meet the demand of all Iraqis for a rational rule that transcends the mistakes and loopholes of experience, and to address the structural defect in the system of governance that requires real and radical reform that cannot be postponed. It puts the interests of the citizens above all else. He pointed out that "today, after two decades of change, our country is going through a sensitive circumstance in the midst of a political impasse and the delay in constitutional benefits beyond their specified dates, which is totally unacceptable after more than five months have passed since early elections were held in response to a popular movement and national consensus as a means for reform and ensuring political stability." correcting the wrong paths, improving the conditions of citizens and responding to their demands.”

LINK

Al-Amiri: We have to get Iraq out of its ordeal to a space of freedom and restore dignity

LINK

Democratic Bloc: Everyone must unite efforts to speed up the formation of a national government

LINK

Al-Kazemi: April 9 is a renewed occasion to remember the need to adopt the approach of reform and justice

LINK

Al-Kazemi calls for learning from the mistakes of the past: building the state and its institutions is the most important requirement

Building the state and its institutions is the most important requirement, as it means reconstruction and reform, and strengthening the presence and role of institutions. Building the state means armed forces capable of protecting the homeland, its land and its borders against all challenges, and it means a strong economy, cooperation and partnership with the ocean and the world.
LINK

Mustafa Al-Kazemi leads great efforts to support the poor

LINK

Adviser to Al-Kazemi: Iraq is in an excellent financial situation, and it is time to quickly approve the budget

8th April, 2022

Saleh added, "We imagine that it is time to present the financial budget law as soon as possible, especially since its draft for 2022 has been prepared for a long time and can be submitted and some amendments made to it."

Gem:  Since there was never a such thing as a caretaker govrnment in Iraq, then would this fall under the difinition of fact news, and if so where did it start from?
IMO

DeepWoodz:  Imo  From Wikipedia. 

“The Iraqi Interim Government was created by the United States and its coalition allies as a caretaker government to govern Iraq until the drafting of the new constitution following the National Assembly election conducted on January 30, 2005. The Iraqi Interim Government itself took the place of the Coalition Provisional Authority (and the Iraq Interim Governing Council) on June 28, 2004, and was replaced by the Iraqi Transitional Government on May 3, 2005.”

"Some Iraq and Vietnam News" Posted by Samson at KTFA 4-8-2022

KTFA:

Samson:  Adviser to Al-Kazemi: Iraq is in an excellent financial situation, and it is time to quickly approve the budget

8th April, 2022

A financial advisor to the Prime Minister, Mustafa Al-Kazemi, described the financial situation in Iraq, which is derived from crude oil revenues, as "excellent."

Mazhar Muhammad Salih told {Euphrates News}, "Iraq is in an excellent financial position at the present time, as during the past month, oil revenues increased to 11 billion dollars, and this is a very large number that has not been recorded for five decades." He stressed that"this is a positive aspect, regardless of the profitability of the economy."

Saleh added, "We imagine that it is time to present the financial budget law as soon as possible, especially since its draft for 2022 has been prepared for a long time and can be submitted and some amendments made to it."

The Ministry of Oil, on the first of this April, announced that it had exported more than 100 million barrels during the month of March, achieving revenues that exceeded 11 billion dollars, which is the highest financial revenue achieved since 1972, according to the ministry.  LINK

Clare:    IT IS GREAT TO SEE THEM TALKING ABOUT THE BUDGET AGAIN..IMO ... THEY CAN LEGALLY SEND IT WITHOUT THE NEW GOVERNEMENT IN PLACE ..OR THEY MAY WAIT UNTIL THE GOI IS RESOLVED ... BUT FOR ANYONE TO SAY THEY HAVE TO WAIT FOR THE NEW GOI TO SEND THE BUDGET IS WRONG ACCORDING TO THEIR LEGAL POSSIBILITIES.... WE SHALL SEE WHAT THEY DO!

DON'T LOSE SIGHT OF THE END - YOU'VE COME THIS FAR!
WE WILL CROSS THE FINISH LINE & IT WILL BE VERY PROFTIABLE..imo

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Samson: Slight decline in crude oil prices

8th April, 2022

Oil prices fell on the settlement, adding to the weekly losses due to uncertainty about the ability of the euro zone to impose effective sanctions on Russian energy exports, and after consuming countries announced massive withdrawals of oil from emergency reserves.

Prices were also pressured by concerns that the shutdown in China due to a new wave of Covid-19 would slow the recovery of oil demand.

Brent crude futures fell 49 cents, or 0.5 percent, to settle at $100.58 a barrel, while US West Texas Intermediate crude fell 20 cents, or 0.6 percent, to settle at $96.03 a barrel. In the previous session, both benchmarks fell more than 5% to their lowest closing levels since March 16.

EU foreign policy chief Josep Borrell told a NATO meeting that new measures taken by the bloc, including a ban on Russian coal, could be approved during the NATO meeting and that the bloc would discuss an oil embargo next time. As for China, the outbreak of the virus has led to widespread closures in Shanghai, its most populous city.

On Wednesday, member states of the International Energy Agency agreed to withdraw 60 million barrels, in addition to the 180 million that the United States announced last week to help bring down prices.   LINK

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Samson:  What Should Be Done After The Failure Of The Election Of The President Of The Republic Within The Specified Period?

8th April, 2022

The legal expert, Ali Al-Tamimi, explained the measures to be taken after the failure of one of the presidential candidates to pass, according to the date specified before the sixth of this April.

Al-Tamimi told Al-Maalouma, "The President of the Republic, Barham Salih, and according to Article 67 of the Constitution, for being the protector of the constitution, should consult the Federal Supreme Court to know its opinion on what the constitutional procedures have reached to find another period to elect one of the presidential candidates."

He added, "The adjournment of the parliament session to further notice means that it will continue with the same quorum and will open the next time with the same quorum, meaning the session will remain as if it was still on a meeting date prior to April 6." 

Al-Tamimi stressed that there is no such thing as a constitutional vacuum, but rather political differences that negatively reflected on the constitutional procedures that are a hanger on which these problems are always attached, while the President of the Republic continues to operate according to Federal Court decision 24 of 2022 until the election of a new president. LINK

Samson:  Asian Development Bank: Vietnam set for a strong economic rebound

6th April, 2022

Việt Nam's economy is expected to make a strong come back this year with a 6.5 per cent growth forecast, said economists from the Asian Development Bank (ADB) during a press conference yesterday in Hà Nội.

ADB said the forecast is based on the country's high vaccination coverage (more than 90 per cent according to a government source and one of the world's highest), trade expansion, and continued accommodative monetary and fiscal policies.

The Southeast Asian economy reported a 2.6 per cent growth last year as renewed COVID-19 outbreaks severely hampered its economic recovery, tightened the labour market, and disrupted manufacturing and supply chains. Inflation decelerated to 1.8 per cent in 2021 from 3.2 per cent in 2020 on weak domestic demand; last year’s inflation rate was the lowest since 2016.

The labour market suffered severe shocks from both the supply and demand sides as the economy weakened and workers left the labour force, which fell by 2 million workers aged 15 and over in Q3 from the previous quarter, said a report by ADB.

"High vaccination rates enabled the government to abandon harsh containment measures. This timely shift of the pandemic containment strategy helped restore economic activity and reduce bottlenecks in the business environment," said ADB Country Director for Việt Nam Andrew Jeffries.

A recovering labour market and other stimulus measures will spur industrial growth by a forecast 9.5 per cent in 2022, contributing 3.6 percentage points to GDP growth. The sector got off to a strong start this year. The manufacturing purchasing managers’ index rose to 53.7 in January (over 50 indicating expansion) and to 54.3 in February from 52.5 in December, the fourth straight month of growth.

The Government’s tourism-reopening policy implemented in March and the lifting of pandemic controls are expected to boost services, with the sector forecast to grow by 5.5 per cent and contribute 2.3 percentage points to GDP growth this year. Accelerated disbursements will drive construction and related economic activities.

Improved coordination between the central and local governments and restored labour mobility will continue to build domestic and foreign investor confidence. The Regional Comprehensive Economic Partnership, which came into effect on January 1, 2022, is expected to accelerate trade recovery once the COVID-19 pandemic subsides, forming stable and reliable export markets.

On the other hand, ADB voiced concern over the high number of COVID-19 infections recorded since March, saying it may obstruct economic recovery should the country fail to bring the virus under control. Uncertainties regarding global oil prices may give spur inflation, which has been said to accelerate to 3.8 per cent in 2022 and 4 per cent in 2023.

ADB also urged the country to quickly move to reform its complex and rigid public investment procedures, saying it may hinder Việt Nam’s timely implementation of the infrastructure programmes, which are crucial to long-term economic development.   LINK

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Samson: World Bank : Việt Nam's economic growth forecast adjusted from 6.5% to 5.3% in 2022

5th April, 2022

Việt Nam's economic growth forecast this year has been readjusted from 6.5 per cent to 5.3 per cent by the World Bank (WB), according to its latest economic growth update.

WB's Chief Economist of the East Asia and Pacific Region of the World Bank Aaditya Mattoo said the main reasons behind the Southeast Asian economy's lower forecast were COVID-19 Omicron variant and rising global oil prices.

Last October, WB's forecast for Việt Nam's economic growth in 2022 stood at 6.5 per cent as the country was among one of the world's top economic performers during the pandemic. However, difficulties in dealing with Omicron including prolonged social distancing periods and out-of-control spread of the virus among the population had severely hampered its ability to speed up economic recovery. 

In addition, the ongoing Russia-Ukraine conflict has pushed global oil prices to a record-high level, significantly handicapping Việt Nam's economy, in which imported oil accounts for 3 per cent of its GDP. Mattoo added in the worst-case scenario for the country this year might see growth as low as 4.4 per cent. As global commodities such as iron, steel and food continued to rise, businesses should expect higher costs and countries taller barriers to joining the global supply chain. 

Meanwhile, the country's high economic openness could be a double-edged sword during such a time. While having numerous trade deals signed in recent years including the EU-Vietnam Free Trade Agreement (EVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) could be beneficial, it would also leave Việt Nam more vulnerable to external economic shocks. 

The WB's economist urged Việt Nam to take a more prudent approach to manage its financial system, especially the State Bank of Vietnam's financial solutions, which should support the country's integration effort into the global supply chain. 

Regarding the foreign direct investment (FDI) inflow, he said Việt Nam had been a successful model and an attractive destination among global investors in the last decades. The country's role in the global economy, as a result, had improved significantly. While it had helped tremendously with poverty eradication, it was time Việt Nam implemented measures to develop robust service industries and improve productivity across multiple sectors of the economy. 

WB has readjusted its growth forecast for entire East Asia and Pacific Region down to 5 per cent for 2022 from 5.4 per cent last October with the largest regional player China could go as low as 4 per cent. In the event of the worst-case scenario, up to 6 million people in the region may find themselves unable to move past the poverty line with under US$5.5 a day to live on.

The ongoing Russia-Ukraine conflict would further complicate economic recovery in the region, said Manuela V. Ferro, Vice President, East Asia and Pacific at WB. She said only a solid economic foundation and sound policies could help countries weather the storm. Even countries with prudent fiscal policies should expect global backlash and in general lower growth this year.   LINK

Frank26 "They Have Solutions" 4-7-2022

KTFA:

Frank26:  "FAMILY DO NOT MISS THIS!"  WE TOLD YOU WEEKS AGO THEY HAD A PLAN AFTER APRIL 6TH AND TODAY IS APRIL 7TH, BEHOLD - THIS IS WHAT EDDIE'S FRIEND IS WAITING FOR AT THE BANK - F26)

Samson:  A legal expert reveals a surprise: The caretaker government can send the budget to Parliament

7th April, 2022

Legal expert Faisal Rikan revealed, today, Thursday, the possibility of the current caretaker government sending the general budget to Parliament.

Rikan said in a statement to (Baghdad Today), "The current year's budget was prepared before the government turns into a caretaker and before the parliament is dissolved in 2021."

He added, "The caretaker government should send the budget law to Parliament and indicate that it was completed and prepared when the government had full powers to be discussed by the House of Representatives." And he continued, "Iraq has a new, complete parliament, with full powers, and it can pass the budget law."

Rican pointed out that "the government cannot prepare the budget and send it to Parliament, even if it has been delegated by the House of Representatives, because the mandate must be in accordance with the constitution."   LINK

Clare:  WELL LOOK AT THAT!!!... HOW NICE.... SO IT IS A POSSIBILTY!
THIS SHUTS DOWN THE IDEA THAT IT WAS NOT POSSIBLE BECAUSE LEGALLY IT IS ..imo

AND THEY ARE WORKING HARD, THE CABINET VOTED A BUNCH OF THINGS YESTERDAY - GO LOOK UP SAMSON'S POST YESTERDAY, PARLIAMENT VOTED A NEW LAW (the food law) AND  Ports announce the activation of the customs and tax link program- POST #29... ALL DURING RAMADAN- THEY DID HOWEVER, CUT THE WORK DAY  BY AN HOUR ACCORDING TO AN ARTICLE SAMSON HAD ALREADY POSTED.

 "THEY HAVE SOLUTIONS"-FRANK26

THANK YOU SAMSON!

KTFA Members "News and Views" Monday PM 4-4-2022

KTFA:

Samson:  The Kremlin: The decision to price Russian gas in rubles was not made in order to "discipline" the West

3rd April, 2022

Kremlin spokesman Dmitry Peskov announced that the decision to price Russian gas in rubles was not taken in order to "discipline" the West, but rather in the interest of Russia not to lose dollars and euros due to Western sanctions

Peskov said that Western countries will pay for the Russian gas supplied to them in euros, as stipulated in the agreements concluded between them and Moscow, but the seller, the Russian "Gazprom", will receive the final payments in the Russian currency after buying rubles against the euro

Peskov expressed his full conviction that the aforementioned principle will be applied to other groups of goods that Russia exports to foreign countries, which will lead to an expansion of the role of this system in Russia's trade relations with the rest of the world

The Kremlin spokesman agreed that the goal of Moscow’s move to pricing Russian gas in rubles is to secure Russian trade and not to “discipline” countries, explaining that it was Russian President Vladimir Putin who proposed the idea of ​​creating a mechanism to protect against risks to the national reserves of dollars and euros, on the background to the growing decline in confidence in the reserve currencies, "so that no one will try to rob us again   LINK

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Samson:  Economist: The Possibility Of Re-Linking Banknotes To The Gold Standard

4th April, 2022

The economist, Pavel Segal, indicated that the possibility of re-linking paper currencies to the gold standard is being discussed more and more in the world, pointing out that there are positive and negative aspects of this step.

"The rise in the volume of unsupported currencies in the world over the past years has prompted traditional economists to start thinking about the world's return to the gold standard," Segal, CEO of Opera Russia, said in an interview with RIA Novosti news agency.

The veteran economist pointed out that gold prices do not show large fluctuations like what happens to most currencies in the world and stock markets, and that the precious metal helps fight inflation, but he noted that the adoption of the gold standard opens the way for rapid devaluations and revaluation of currencies, which it prompted the world at one time to give up on the thought of this move.

Prior to that, the economist, Peter Schiff, expected that gold would resume its role again in the global monetary system, in light of the economic crisis the world is witnessing.

The expert expected a rise in precious metals prices in the near future, and said that "while the world is dealing with the Corona crisis, gold and silver prices are witnessing an increase, there are big movements in gold and silver coming."

The economist advised everyone to stay away from the dollar before it was too late, and said that “the yellow metal will resume its role in the global monetary system, as the world will return to the gold standard.”

Gold is a safe haven in times of nervousness and volatility, and after the outbreak of the Corona crisis, the prices of the precious metal rose significantly, and today the yellow metal is trading at the level of 1923 dollars per ounce. LINK

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Samson:  The Federal Court rejects the lawsuit filed regarding raising the dollar exchange rate

4th April, 2022

The Federal Supreme Court rejected the case for re-exchange of the US dollar in relation to the Iraqi dinar to its predecessor, at the amount of (120) thousand Iraqi dinars for every 100 US dollars.

On the 14th of last March, the court decided to postpone the lawsuit regarding raising the dollar exchange rate to the fourth of April {today}.  LINK

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Samson:   The sixth of April... will it be the date of the constitutional vacuum or the last moments?

4th April, 2022

Legal experts told (Iraq Today) that "the country will not fall into the constitutional vacuum, and extraneous procedures will not be followed, as promoted by some websites and media."

They stressed that "the constitutional deadline that was made available to elect the President of the Republic, did not include a vision or procedures resulting from the failure to implement them, so the next step will only be within a constitutional path, especially since the current Iraqi government continues to conduct daily business, and performs its tasks legally, and there is no Any violation of its legitimacy."

They pointed out that "clear attempts are being made by some parties for the purpose of getting Iraq out of its constitutional path, and inserting it into other unknown regions, but that will not happen as long as there are legitimate and constitutional bodies and institutions working non-stop."

Negotiations continue

In the context of the latest, according to sources, “the discussions in which the coordination framework will be initiated through committees and experts, will include all political forces, including the Sadrist bloc, albeit informally, in line with the tweet of the leader of the Sadrist movement Muqtada al-Sadr, in which he ruled out discussions with the bloc.” bra; Because the coordinating framework, based on its national responsibility, sees negotiations with the Sadrists as the real key to resolving the current crisis; Because there are no major intersections between the two parties.”

With regard to the position of al-Sadr’s allies, the Sunni “Sovereignty” coalition and the Kurdistan Democratic Party, the informed sources confirmed that “the talks are continuing with them, and have not stopped, because everyone has come to realize that consensus is the real solution, even though the ball with regard to the position of the President of the Republic is In the court of the two Kurdish parties, if they agreed on one candidate, all differences would be overcome, and the constitutional terms would not be violated.  LINK

Samson:  Expert: A legal necessity requires the government to send the budget

4th April, 2022

The legal expert, Ali Al-Tamimi, confirmed today, Monday, that "the economic necessity requires the government to send the budget law to the House of Representatives."

Al-Tamimi said, in a statement to "Mawazine News", that "any issue related to security is one of the government's priorities, and that economic security is one of the necessities, so it is imperative for the government to go in any direction to help the economic situation, especially with regard to food security and the budget."

He added, "There is no legal harm in sending the budget, and that it is under the name of force majeure law."     LINK

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Samson:  Can the Caretaker Government send the Budget Law with the authorization of Parliament ? .. Legal answers

3rd April, 2022

Sunday, legal expert Adnan Al-Sharifi revealed the extent to which the caretaker government is able to send the general budget law with a mandate from the House of Representatives before the end of its first legislative term.

Al-Sharifi said in a statement to the “National News Center” that “the caretaker government has the right to raise the draft budget law because it is a daily caretaker government,” noting that it is “the budget law to facilitate the daily life of citizens.”

He added that "the draft budget is not considered a government decision that is implemented immediately after its issuance, so that the validity of the draft law is overridden," noting that "the final word in it will be to the House of Representatives. Federal for 2022.

And he indicated that “Parliament is obligated to legislate the budget law, which is one of its tasks before ending the legislative term,” explaining that “there is no constitutional violation of Parliament not enacting this law.”

And he continued, "There is a moral violation and there is a swearing in the oath because the members of the House of Representatives took the oath to perform the tasks with honesty and impartiality, and to be keen on the interest of the country and the citizen.    LINK

Clare:  THEY HAVE SOLUTIONS TO GET THIS DONE!!!

SO THERE IS A LEGAL WAY TO TAKE CARE OF THE BUDGET POSSIBLY WITHOUT THE NEW GOV OR PERHAPS THAT IS WORKED OUT ALSO BEHIND THE SCENES  .....

FYI, PETRA TALKED ABOUT "FORCE MAJEURE" BEFORE AND THAT POST MAY BE IN THE FA THREAD... LET'S WATCH IT PLAY OUT... IT SURE IS LOOKING REALLY GREAT TO ME! IMO

THANK YOU SAMSON! GREAT ARTICLES SO FAR!

BearCinnebar:  KTFA says thank you to Clare & Petra / Admins for bringing to the light the picture with the Budget Law and "force majeure law" IMO.  

Force majeure (lit. superior force, with the sense of overwhelming force, from French[1][2]) is a common clause in contracts which essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties that prevents one or both parties from fulfilling their obligations under the contract.

https://en.wikipedia.org/wiki/Force_majeure

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Samson:  Lawyers and observers propose an extension of the Al-Kazemi government for a year to pass the budget, complete the dues, and overcome the political blockage

3rd April, 2022

Iraqi legal and observers have said that the continuation of disrupting the work of the state and harming the interests of society is unfortunate, and it must be stopped immediately, and the effective parliamentary forces should reduce the differences, and go towards a compromise.

It is to go to renew the assignment of the Al-Kazemi government for an additional year, and to enable it to complete the necessary and urgent entitlements of the Iraqi street, especially the general budget law, as well as to complete the strategic projects that it contracted for, and to push forward with very necessary bills and legislation, the absence of which may clearly harm the interests of the Iraqi state.

The legal expert, Faisal Al-Hashemi, said, "Working to extend the life of this government may seem logical in light of the crisis of confidence experienced by the forces of the current parliament, and the emergence of the blocking third of the project to pass the presidential candidate, as well as the state of tension experienced by all political forces, which means that the crisis may not end in the near future” and inflicting great harm on the segment of employees, unemployed graduates and others..

He pointed out that “the solution may be by granting the current government confidence temporarily until a national agreement is completed on forming another government, or organizing early parliamentary elections in the event that the failure of the political forces to resolve the stifling political crisis.

While the economic observer, Majid Al-Salem, said that "disrupting the budget law is tantamount to breaking the pillar of the national economy, as well as a deliberate waste of the desired and hoped-for development and construction opportunities. Rather, it is a clear stray in which the state is placed, leading to innumerable damage."

He added that "working to organize this matter, and to go towards legislating the electoral law, requires, as legal experts say, the existence of a government with full powers, and this means that the government must gain political legitimacy from the Parliament, which we believe is responsible for disrupting this law, especially since the second half of the year has begun and a budget has not been approved that guarantees people's interests, and organizes exchange and development operations responsibly."

Al-Salem suggested that “Al-Kazemi’s government is given the opportunity to complete this draft law and other laws, by voting on them within the House of Representatives, and pushing it to approve a set of financial and economic legislation to be approved in the parliament, and these will contribute to the stability of the Iraqi street, and then the forces can the political party must proceed with extensive negotiations if it wants to form a subsequent government."

The Observer of Political Affairs, Ahmed Abbas Madi, commented on the idea of ​​granting the current government temporary legitimacy, as "part of the possible solutions, to overcome the crisis of disruption and formation, which have become climates affecting the social and economic realities of the country, and have become a method by which the simple citizen is harmed."

He pointed out that "the current government enjoys a clear degree of acceptability and reliability from most political parties and the street, and giving it the opportunity to complete some legislation may seem a possible solution to overcoming the current political impasse."  

Clare:  ANOTHER GREAT SOLUTION! WOW!!! WHO DOESN'T LIKE THIS ONE! LOL imo

FRANK & WS WERE RIGHT WHEN THEY SAID THEY HAVE A SOLUTION!!!!!

Suzie:  This solution, albeit temporary, is a good one as it solves some major issues at hand along with satisfying the wants/needs of the Iraqi people (and us).  The only negativity that anyone could throw out there is if once more they have the "solution" before them and they don't ACT on it and we all know by now what they're famous for so let's hope for once they can do the right thing for themselves and all.  Just my thought!   

Some "Sunday News" Posted by Samson at KTFA 4-3-2022

KTFA:

Samson:  An economic advisor blows up a big surprise: Iraq will get a surplus of 40 billion dollars this year

3rd April, 2022

The economic expert, Nasser Al-Kinani, said that the difference in the financial output, achieved from oil, in light of the current prices in global markets, may bring Iraq more than 40 billion dollars annually.

Al-Kinani said that "it is natural that there will be an increase in revenues resulting from the sale of oil, and a shortage may occur, and all according to the market," noting that "the price of oil in global markets has become volatile on a daily basis, and perhaps even in hours."

Al-Kinani added: "In the past months, we have achieved more sums in each month than the previous month," noting that "the state takes the rate of selling oil, for example, at a price of $65 a barrel, and thus occurs at the end of the year an annual financial abundance than what is decided, and operating expenses are extracted from it. and investment.”

The economist Nasser Al-Kinani noted that "if the budget is approved at a price of 65 dollars per barrel of oil, and now it is sold at an average price of 100 dollars, then we find a big difference, which may reach the limits of 40 billion dollars annually."

It is noteworthy that the Ministry of Oil announced yesterday, Friday (1 April 2022) the preliminary statistics of the exported quantities of crude oil and the revenues achieved for the month of last March, where the highest financial revenues since 1972 amounted to (11.07) billion dollars.  LINK

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Samson:  As A Result Of The Economic Crisis, More Than 20,000 Lebanese Are Looking For Work In Iraq

3rd April, 2022

A report by Agence France-Presse revealed that more than 20,000 Lebanese arrived in Iraq in search of work between June 2021 and February 2022, with the exception of Lebanese visitors to the holy cities of Karbala and Najaf.

The report, which was translated by the agency "Information", stated that "Iraq, which was witnessing waves of conflict and chaos, has now become a land for Lebanese looking for work and fleeing from a deep economic crisis in their country."

Akram Johari, one of thousands who fled the declining Lebanese currency and rising poverty, packed his bags and boarded a plane from Beirut to Baghdad, using social media to search for job opportunities. "I didn't have enough time to look for a job in the Gulf," said the 42-year-old, and with its relative proximity and visas on arrival for the Lebanese, the Iraqi capital seemed a good option. "I had to take action quickly, so I came to Baghdad and started looking for work on Instagram," added El-Gohary, who has been running a restaurant in Baghdad for a month.

The report stated that "according to the United Nations, the minimum monthly wage in Lebanon is now 675,000 pounds, or about 30 dollars, on the black market, and about 80 percent of the population now lives in poverty."

For his part, the Lebanese ambassador to Iraq, Ali Habhab, said that “the movement from Lebanon to Iraq has doubled recently,” adding that “there are more than 900 Lebanese companies operating in Iraq, most of them in the restaurant trade, tourism and health, and there are dozens of Lebanese doctors who They provide their services in Iraqi hospitals.”

And the report indicated that "since the victory over the terrorist organization ISIS, Iraq has slowly begun to restore stability, and now the streets of Baghdad, which once witnessed atrocities, are teeming with shops lining both sides of the main roads and cafes open until late at night."

The report indicated that “according to the Iraqi economist, Ali Al-Rawi, many Lebanese companies came to Iraq “because they know the investment environment well,” while many foreign companies from other countries “are afraid to invest” because of the country’s violent past.   LINK

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Samson:  The Euphrates Center discussed the economic and social repercussions of re-changing the exchange rate

3rd April, 2022

Al-Furat Center for Development and Strategic Studies held its discussion seminar for the month of March, titled (The Economic and Social Repercussions of Re-change of the Exchange Rate) on Saturday 12/3/2022 at 4:30 at the headquarters of Al-Nabaa Foundation for Culture and Media.

In the episode, a research paper was presented by the researcher at the center, Dr. Haider Hussein Ahmed Al Tohme, which stated:

"Why was the exchange rate changed in 2020? In 2020, the Iraqi economy faced a severe financial shock, which differed from the rest of the shocks by virtue of the fact that the global economy entered into a major recession and the demand for oil collapsed very sharply as a result of the great closure, especially with regard to transportation being an engine of demand the global impact on oil, so the shock was not just a drop in oil revenues, but also a decline in future prospects for the return of oil prices to recovery, and this matter put pressure on oil revenues sharply.

In 2020, the government was able to cross the crisis through government borrowing, as the government borrowed 27 trillion dinars to cover salaries and was able to cross the crisis in the hope of improving oil revenues and overcoming the crisis at the lowest possible costs, but what happened is that the pandemic continued to proliferate, and injuries continued to increase and closure restrictions to rise, all of these things Weakened future prospects for the possibility of improving oil revenues in the short term.

Deficit Financing Policies

How does the government finance the 2021 budget deficit?

For the decision-maker in Iraq, he had three options for financing the deficit:

1- Following an austerity financial policy by reducing salaries, lowering incomes and imposing taxes, in addition to lifting subsidies on some commodities and some categories. It is said that there are proposals from some parties to lift subsidies on fuel as well, given that fuel costs the government a large part of the costs. 

This policy was rejected on the grounds that the country was witnessing a wave of protests at the end of 2019 and the beginning of 2020, so reducing the nominal incomes of employees could have weakened the economy further, in addition to that these incomes are a driver of economic activity in Iraq considering that many categories of Non-employees depend on staff spending. Thus, adopting this policy means entering the country into a deep economic recession that was not in everyone's interest.

2- Internal government borrowing, the reality of this policy was adopted in 2014 and 2015, but it did not exceed the value of internal loans (20 trillion at the time). While it reached the danger level in 2021, when the internal debt reached 70 trillion dinars. Although the internal debt was not in foreign currency and some consider it an appropriate policy, but in fact these debts go to the markets and turn into dollars, and as a result it puts pressure on the foreign reserves of the Central Bank, which means that the second policy is a harmful policy at the level of foreign reserve depletion.

3- It is the reduction of the exchange rate as a result of critical financial pressures, and this policy was chosen for two reasons: The first reason, maximizing dollar revenues with the Ministry of Finance on the grounds that it will sell the dollar at a price of 1450 dinars instead of selling it for 1182 dinars, which saved the Ministry of Finance about 23% of the volume revenue no more than 20 trillion shares plug the deficit. The second reason is safety for dollar sales, meaning when the dollar price rises to 1450, the central bank’s sales will decrease when compared when the price is low 1182, due to the inverse relationship between the dollar price and the required quantity, at least for consumers, as the rise in the dollar price means higher commodity prices. denominated in dollars, and this reduces demand and imports, as well as for tourists, their demand for the dollar will decrease when its price rises. Decreased dollar revenue.

The common goal of devaluing the currency represented in financing the budget deficit and maintaining the foreign reserve from declining, in addition to that it is a tool included in the white paper considering that according to the government’s logic that devaluation of the dinar is the first step to start revitalizing the private sector and making the Iraqi product a competitor to its foreign counterpart These are the arguments behind the devaluation.

Arguments for re-change of the exchange rate

Currently, there are calls to re-change the exchange rate. The truth of these calls was based on a set of arguments, namely:

The first argument, the rise in oil prices: In fact, the rise in oil prices cannot be relied upon, given that the current rise in the price of oil is not due to market fundamentals (supply, demand), but rather a political issue, meaning that it is just a negotiation that may collapse prices sharply. Because supply is still greater than demand, and OPEC is still committed to its policy of reducing production until next September, production will be returned to before 2020, so far we are producing less than 2020, and that OPEC did not seek to make the increase in supply sudden, that is, it aims To make the increase in supply gradual even if prices rose to $90, so relying on the price of oil to change the exchange rate is incorrect.

In addition, changing the exchange rate on oil prices means opening a new channel to transfer crises to the Iraqi economy, as global economic shocks in the past were infiltrating the Iraqi economy through the budget, that is, when oil prices drop, oil revenues decrease and the budget becomes austerity, which means a decrease in expenditures as happened in 2014 and 2015, including investment expenditures, and this is what leads to deflation, meaning that the financial channel is the channel linking the global economy and the Iraqi economy.

Linking the exchange rate to oil prices, meaning, when oil prices rise, we raise the value of the dinar, and when oil prices fall, we decrease the value of the dinar, which means adding a new channel, which is a monetary channel in addition to the financial channel, and as a result, the shock becomes a double shock, a financial shock and a monetary shock, and this is very dangerous.

The evidence is that Saudi Arabia has maintained the riyal exchange rate for a long period of 40 years (one dollar equals 3.75 Saudi riyals) despite the crises that occurred in the oil market, meaning that the exchange rate should be far from the fluctuations of the oil price.

The second argument, the high level of prices (inflation): Inflation arises in the economy because of two reasons, either an increase in demand or an increase in costs, this is in the case of closed economies, and in open economies, inflation can arise due to importing inflation from abroad, as is the case in Iraq, so the use of The exchange rate to reduce inflation is not the usual economic policy. It cannot be adopted in Iraq.

Iraq did not face an increase in prices due to the devaluation of the currency, as happened in Lebanon, where the currency was devalued by 22%, but the inflation calculations until June 2021 were at 7%, meaning less than the exchange rate change, and at the end of 2021 the Ministry of Planning conducted a survey of high levels Prices and found that the price levels increased in total by 8%. The reason behind price stability and non-increase is the failure to lift subsidies on oil derivatives prices, which contributed to keeping prices from spiraling out of control.

The question is, did all price levels increase by only 8%? In fact, there are some commodities whose prices have doubled or doubled, but the reason cannot be limited to the exchange rate only, due to the presence of global inflation, which occurred in most countries of the world, and it is an inflation close to inflation in Iraq, and that the cause of global inflation is the supply side constraints represented by the restrictions of the Corona pandemic that It caused the production system to stop and supply chains to stumble, so production in 2020 was less than in 2019.

And in 2021, especially in the second half, when restrictions became less, the global economy began to recover, but it faced a problem, which is that the production apparatus cannot return to the previous production until after a period of time has passed, and due to the increase in demand for labor and raw materials, their prices rose, and the rise in oil prices represents There is also a cost that is added to the cost of production.

This is a limitation on the supply side. In addition to the presence of additional demand, which means the interaction of supply and demand, and the result was a rise in global commodity prices in addition to the transportation problem that faced the global economy, which was a great shock that occurred in the increase in orders, and the marine and even air fleets were unable to deliver these products in time, so there was a significant increase In the international prices of goods, and on this basis, even if the government returns the exchange rate to 1200, the prices will not return to what they were before the change.

The third argument, devaluing the exchange rate in order to support economic growth: This is a strange argument, as all countries or in the economic literature adopt depreciation of the exchange rate to revive the national product, but raising the exchange rate of the national currency will make national products less competitive, and the volume of imports of foreign goods will increase by virtue of the decrease their prices against the revaluation of the national currency.

Finally, the fourth argument, reviving the poor: This matter is very important, and the devaluation of the national currency was supposed to be after fulfilling the prerequisites, which is more priority and is not available in Iraq, but what happened was the devaluation of the national currency and the effects were better than expected if it was expected. That the prices of the main commodities will rise doubly on the level of bread, vegetables and others consumed by the Iraqi family, given that they are imported from abroad, but if we compare the prices of commodities two years ago and now we will not notice a significant change in prices, this does not mean that the exchange rate did not affect the economy, but the reason for the effect is to inflate the price hike under the pretext of the rise in the price of the dollar. Price levels pre-pandemic.

Reservations on exchange rate return

What are the reservations that returning the exchange rate to 1200 instead of 1450 can leave?

First: If the dollar price is reduced, the budget will need an additional 20 trillion, if not more.

Second: It will affect the performance of banks, given that the Iraqi dinar is no longer valid as a store of value due to its fluctuation between rise and fall, and this will lead to a problem in lending and deposit operations, and this affects the performance of the banking system.

Third: The loss of credibility of the Central Bank, as the policy of the Central Bank is supposed to be independent and the exchange rate is changed only for monetary motives and considerations, while changing the exchange rate for political motives is harmful to the reputation of the Central Bank and Iraq’s international reputation, especially in the credit rating index.

Fourth: It is possible to employ the abundance achieved in repaying debts and in completing lagging projects, and not in reducing the price of the dollar.

It is worth noting that the government overlooked the tasks that it should have given priority and was limited to exporting the exchange rate as an achievement for the people, but in fact the exchange rate will not solve the problem.

There are several policies that the government can resort to. At the level of raising the incomes of the poor, not by decreasing the exchange rate, which if it decreases, the rich will benefit from it more than twice what the poor benefit from, and the evidence is that the number of the poor reached more than 10 million poor in 2019 even before the exchange rate change despite the stability of the exchange rate. The reason is the existence of a gap in the distribution of income, weakness in the policies to support the poor, and corruption in the implementation of the programs of the Ministry of Labor and Social Affairs.

All of these things need reform, but disregarding these main tasks of the state and its role in reviving this class in an oil-rich country, means distracting public opinion with patchwork policies and fake achievements at the expense of the government’s role in achieving real economic growth and providing job opportunities outside the government apparatus of the state.

After concluding the presentation of the research paper, two questions were asked to be answered by the attendees, and these two questions are:

The first question / Is there a possibility to re-change the exchange rate again?

The second question: What is the appropriate rate for the dinar exchange rate, and why?

Interventions

Lack of an integrated vision

- Dr. Khaled Al-Ardawi/ Director of the Al-Furat Center for Development and Strategic Studies:

"The change in the exchange rate again reflects the instability (financial and monetary instability in Iraq), which is a negative indicator that indicates the Iraqi state, and that the appropriate rate is the concern of the specialists, and the issue of the bankruptcy of the retirement fund is a well-known issue and I heard it personally once from a manager The fund itself, and it seems that the improvement in the price of oil might help them a little and solve the problem.

Changing the exchange rate at this level was our only option before the Iraqi government, was it not possible to change the exchange rate gradually?

If we realize that the exchange rate has been changed and we have 10 million poor people or below the poverty line and maybe more, did the government not take into account these poor people when it went to change the exchange rate? Were the government's measures towards the poor appropriate in the budget compared to the effects of changing the exchange rate?

We noticed a while ago that the Minister of Finance was talking about presenting a project to support the poor. Is this project being presented a year after the decision to devalue the currency was taken?! The first was that the law of the poor be approved with the budget law in 2021, as it is not possible to adopt a law that harms the poor, and after a year, a law that treats the poor will be produced, meaning that there is no integrated vision for the decision to reduce.

With regard to the first question, the truth is that the government was in a critical financial position and had three options, namely, to follow an austerity policy, which is to reduce salaries, increase taxes, raise subsidies, or continue internal borrowing. It was adopted in the Al-Abadi government by virtue of the fact that the size of the internal debt (28 trillion at the time) was not The size it is now when it reached 70 trillion dinars, and if internal borrowing is adopted, the size of the debt will increase, which means the rapid depletion of foreign reserves, and therefore the appropriate choice was the exchange rate.

As for the second question, the Central Bank promised to address the effects of the exchange rate devaluation with two policies:

First, it enters the exchange market to prevent sharp fluctuations in the exchange rate.

Second, taking initiatives to stimulate the Iraqi economy, through banks by providing the necessary facilities such as housing loans and others, and the Central Bank supports them financially when needed. Note that it did not enter directly because it is the bank of banks and not the bank of the public.

As for the Ministry of Finance, it provided budget support approximately one trillion dinars, but it was reduced by the House of Representatives, which affected the support of social protection programs and diversification of the ration card, and this was stated by the Minister of Finance in the House of Representatives when hosted by the latter.

So, the budget included addressing the repercussions of decreasing the exchange rate, but it was not passed in the 2021 budget."

The exchange rate issue is political

- Mr. Ahmed Juweed, Director of Adam Center for Defending Rights and Freedoms:

He believes that the exchange rate will change to about 1300 dinars per dollar, as it is considered an achievement for the bloc that makes up the government, as it promised and fulfilled its promise.

The exchange rate will also significantly affect the market because any movement in the market will always cause people to panic, meaning that a small increase in the price of the dollar in conjunction with the global crisis, we will find that the prices of goods rise exponentially and are stored and monopolized by traders.

The issue of the exchange rate is more political than economic, as some blocs are trying to bring down the current government (the caretaker government) by various means with electricity and the cost of living. Achievements are presented to him, including restoring the exchange rate, the ration card and other issues. The issue is not economic because the political blocs do not take economic issues into consideration.

It seems that there is a negotiation between the political blocs over the formation of the government and as a consequence we may witness a relentlessness in prices following the return of the exchange rate to 1300 dinars per dollar.

Yes, if there is a change in the exchange rate, it is a change for political motives, i.e. the exchange rate change is intended to be exported as being accomplished by the government, but in fact it is not accomplished, and with this change the exchange rate will make the exchange rate a game as was the budget. Over the past years, the Central Bank has been away from the government, and the budget has been a theater for political clowning. Currently, the Central Bank is intended to be another theater, by decreasing and raising the exchange rate as an achievement provided by the government to the people! or as a need to cover unnecessarily inflated expenses.

Error is not handled by error

- Mr. Hamid Abdul-Hussein Al-Jubouri, researcher at the Al-Furat Center for Development and Strategic Studies:

He believes that, assuming that devaluation is a wrong decision, no action can be taken to restore it to the previous rate; As the error is not treated by error, because the exchange rate is an indicator of the investment environment and the more stable it is, the more it gives an indication of the attractiveness of the investment environment and vice versa.

Yes, there are three policies that could have been followed to reduce the budget deficit, namely austerity, borrowing, and devaluation of the currency. In my estimation, the first was to use the first policy (austerity) as it would include only the entry of employees, while resorting to the third policy (devaluation of the currency) led to All incomes are eroded for all citizens, so this policy is supposed to be the last resort.

Changing the exchange rate was a wrong decision, but it cannot be returned (the error is not treated by mistake), in addition to that it will be reflected in the future on the Iraqi economy by making its products more competitive. negatively on the economy in the future.

With regard to the appropriate rate of the exchange rate, it is not possible to determine a specific rate because even the current price after changing the exchange rate is it an unreal price? Certainly it is an unreal price because just floating the exchange rate will increase the exchange rate of the dollar against the devaluation of the dinar tremendously, so there is no specific exchange rate that should be chosen.

Comment on the entry

The government’s resort to austerity policy is very difficult, because the economy is in a state of stagnation, and when the economy enters a recession, it needs an expansionary fiscal policy, and that all countries of the world have raised their debts significantly, due to the increase in expenditures in order to revive the economy, so it is not possible in a time of crisis to adopt austerity fiscal policy.

Regarding the exchange rate, is it real? What is the real exchange rate? The difference between the official and real exchange rate is that the first is determined by the central bank and is 1470 per dollar, while the second is determined by the forces of supply and demand, and assuming that the central bank does not sell the dollar for five days, the dollar price will rise significantly, it may reach 400 a thousand for every $100.

No economic identity

- Mr. Basem Al-Zaidi, researcher at the Imam Shirazi Center for Studies and Research:

He saw in his intervention that changing the exchange rate and returning it to the former is politically possible, but economically it is not possible, and the latter is not supported by politicians, given that they have undertaken many economic adventures, and everyone claims that they understand the economy, and this is what we noticed in previous years. Instead of addressing the problem of unemployment and underemployment in the state, they appointed Much in the form of wages, contracts and permanent, despite the warnings of economists that this policy will lead to disaster in the future.

With regard to the second question, one of the reasons that prompted the government to confuse the devaluation of the currency and raise the price of the dollar is the lack of an economic identity for the country, and this is the problem of the fact that Iraq does not have a clear economic identity, but rather has hybrid identities and this leads me to the first two questions, what is the identity of the economy Iraqi? Is there a model similar to him in the world? And second, what is the economic identity that you see fit that can extricate Iraq from its economic suffering?

Answer the questions

The identity of the Iraqi economy is an oil identity, where Iraq sells oil and gets the dollar, and with this dollar we import goods, so if the oil dollars fell, we would not be able to import in the same percentage, or the central bank compensated for the decrease in dollars, and that the central bank could not compensate for a long time, that is, it could withstand the The crisis is a year or a year and a half, so the expectation was that foreign reserves might fall below the level of danger if oil revenues remained low.

Enhancing the competitiveness of local production 

- Mr. Muhammad Al-Safi, researcher at the Imam Shirazi Center for Studies and Research:

He said, at the beginning of this year, the European Union removed Iraq from the blacklist related to money laundering and terrorist financing, after entering it in the year 2020, at the same time we note measures that included Syria and Lebanon, and these countries were badly affected banking and economically, and vice versa with regard to Iraq after the government lifted the exchange rate and a tax system have been set somewhat away from the effects it left behind. We note the European Union and international institutions are satisfied with these measures by virtue of removing Iraq from the black list, which serves as a notice to investors that this country is stable and attractive to investment, and that its financial policies are good policies. What is your interpretation of this scene?

With regard to the exchange rate, I think it will not change. What is being raised in the media is a political issue, as the same political blocs that voted to change the exchange rate are also launching campaigns to restore the exchange rate because it affected the poor! In the sense that it is a tool to improve its image in front of the public, and through my observation of hosting the Minister of Finance in Parliament, it became clear that the legislative and supervisory authorities are unable to perform their role as required, due to the lack of knowledge in the relevant disciplines.

The government worked to reduce the currency in order to enhance the competitiveness of local production, but what happened is the opposite, as the production expenses in Iraq are high expenses, and the low price of the dinar doubles this price, as it cannot compete with foreign goods because of fuel, electricity, and others.

The answer to the question

The International Monetary Fund was keen to keep the exchange rate as it is without changing it, meaning it remains 1200 dinars per dollar, and I am personally surprised, as the usual recipe for the Fund includes five paragraphs for most countries, which are raising taxes, controlling public spending, fighting inflation, and liberalizing the exchange rate, the removal of subsidies.  It is a conditional prescription, meaning that the IMF does not give countries loans if the five conditions are not applied, because if the countries do not implement these conditions, the loans will go to the same way as the previous funds and be wasted.

In Iraq, the situation is different, as the IMF recommended the application of the five conditions, except for the exchange rate, as it is a pillar of safety for the weak and poor classes, because the Fund knows what the liberalization of the exchange rate means, meaning that the exchange rate may reach 300 thousand per 100 dollars, and this increases the poverty rate. And the destruction of the Iraqi economy, which did not resemble the Egyptian economy when the pound was liberated, as it has somewhat of a production base, while Iraq imports everything and this fund did not think about liberalizing the exchange rate.

But in the negotiations regarding decreasing the exchange rate, as the Fund intended to raise the exchange rate to 1,600 dinars per dollar, while the Central Bank did not want to raise the exchange rate, but set the exchange rate at 1,300, and this price did not address a situation, and therefore the Ministry of Finance proposed a compromise solution, which is 1450 dinars per dollar, and this is what the fund was convinced of.

The International Monetary Fund was interested in linking oil revenues and foreign reserves, meaning that it is interested in maintaining foreign reserves, because it realizes that if this reserve collapses, the economy will go into shock, and since there is a possibility to raise the price of the dollar to 1500, it will not be able in the future to defend the exchange rate, because the demand for the dollar will rise in the future, not only because of the decline in oil revenues, but also because of panic, so there will be very strong speculative operations, dollarization and disposal of the Iraqi dinar, and these are dangerous matters for the Central Bank.

Inconsistency in policies

- Dr. Alaa Al-Husseini, researcher at the Adam Center for Defending Rights and Freedoms:

He went on to say, if we look at the issue from a legal point of view, we will find that there are negative repercussions on the citizen, but there are positive repercussions, as I mentioned in the paper, Iraq needs a reformist view and a real program, not as a patchwork program happened.

And when the government abandoned the option of borrowing, which the government has been doing since 2008, and resorted to the policy of devaluing the currency, which is an okay option if it was more studied, the question arises whether it was better to depreciate the currency gradually until reaching the target price, or was it better to be on the shock method as it happened, that is, directly, the price was set at 1450 dinars per dollar.

In light of the changes that took place, for example, such as the decline of the Corona pandemic and the beginning of the recovery of the global economy and the curves of demand for oil and gas that began to rise, especially with the Ukrainian-Russian crisis, is it possible for Iraq to bet that the demand for oil will rise and that it is possible that Iraq’s share in OPEC will increase. It is possible that the Organization of the Petroleum Exporting Countries (OPEC) will be bypassed, considering the problem that Russia has with the world, America and Europe, and the latter's beginning to search for alternatives, even if it does not explicitly announce this search. Could Iraq bet on these curves that support its resources? In addition, the price of a barrel has now risen more than twice what was planned in 2021, and therefore these are all positive indicators towards the Iraqi government.

In this regard, we need to note the decision-maker regarding the 2022 budget, which has not yet been officially presented to Parliament, what are the available options that support this economic step and make it bear fruit, and at the same time there is an important issue, which is two days ago, the government approved a package in the issue of support for the destitute income, the poor and the retired, does this package have a negative impact on the economic step taken by the government in 2020, considering that it will lead to additional demand?  Will it affect inflation rates or not? Is this a kind of contradiction in government policies, as on the one hand it raises the price of the dollar at a time when we rely heavily on imports, and on the other hand it provides money to the consumer to buy more goods and services?

Comment on Dakhla 

Yes, our problem is that decision circles direct public opinion on how to change the budget and the exchange rate, and in fact both are results, and the problem is in the real economy. Preoccupation with public opinion in these policies is in fact a loss of the opportunity for real reform.

With regard to raising the exchange rate, it was not appropriate in terms of timing or amount, but it was a postponement of a topic that was supposed to be worked on for years, and it was the necessity that prompted it to work at an inappropriate time, as is the case in performing an operation for a patient at an untimely time. Appropriate, as it is supposed to work on preparing the patient in terms of pressure, heartbeat and sugar for the operation, but the patient is facing death or risk, and therefore the government was forced to take risks and the operation was crowned with success and its negative repercussions were not as expected, represented by a shock to the economy from which it did not recover easily.

With regard to Iraq’s share of exports, OPEC did not specify export quotas, it only sets production quotas, in addition to the fact that Iraq does not have a large production capacity as is the case for Saudi Arabia, which is also consuming part of its production, this is first.

Secondly, it is not possible to bet on the price of oil, as this rise may be followed by a sharp decline, and there is no continuous rise, and this rise fuels the collapse of itself, because the economy suffers from a recession and in the event of a rise in prices, what is known as stagnation will occur, and this leads to a spiral crisis downward trend.

Integrated political programme

- Mr. Adnan Al-Salihi, Director of the Future Center for Strategic Studies:

In his intervention, he saw that the treatment of the economy in general takes place through a coordinated government team, as it is assumed that the ministries work in a coordinated manner, especially the Ministry of Oil, Trade, Agriculture, Industry and Electricity in addition to finance, meaning that work in them must be organized, and in fact most ministries work independently without taking into account the extent of its compatibility with the performance of other ministries, knowing that they have close ties, in general the issue of the exchange rate and others is an integrated political program.

How much does the state bear to support many sectors, for example, the oil sector, the price of a liter of improved gasoline, which is sold at 650 dinars, costs more than 1000 dinars to buy from abroad, as is the case for gas oil or a little less, and it is sold for 750 dinars, and the citizen is subsidized 385 dinars, and the rest of the products are the same, this as a result of buying from abroad, if we had refineries, we would have become self-sufficient and the issue of support and the provision of currency that goes abroad was avoided.

So is the issue of buying gas for electricity generation, which is another problem. If we had an integrated oil sector, we would have been able to fill the shortage and provide electricity, and this means saving hard currency.

If the electricity was well available, the industrial and agricultural sector would have worked well and would fill the local demand, reduce imports from it, and improve the exchange rate. All of this requires ministries to work professionally, away from interference, in addition to the presence of a coherent government team that has a free hand in decision-making and has the courage to implement the procedure Correct and having a political decision that the government will be successful.

- Sheikh Mortada Maash:

Whether the exchange rate rises or falls does not affect much, as the problem is not in the exchange rate, but in other things, and the most important point is the politicization of the economy for special factional interests, and the real price of the dollar is 1500 dinars as it was in 2004, but because of manipulation for political purposes it has been changed to 1200 in the year 2000, and when the new government works to politicize the economy, the result will be the same as it happened in 2020, because always when the economy is politicized, governments fall because the economy is a red line that cannot be touched.

Were the required objectives of changing the exchange rate achieved in the white paper? How much is the dinar worth against the dollar if the flotation is applied?

The cause of inflation in Iraq is the high costs, and the latter is caused by the weakness of the infrastructure to an extreme extent, rather by poor quality and lack of infrastructure, and as a result, mismanagement and waste. For example, many people are reluctant to invest at home because of the high investment costs and lack of profits.

Taxes are supposed to be raised on luxury and not essential goods, in addition to the fact that they include ordinary merchants, not political and feudal merchants, and this discrimination destroys the economy and trade.

Iraq’s main problem, in addition to the infrastructure problem, is the problem of self-sufficiency, as Iraq has only exported one commodity, which is oil, and as a result it imports everything due to the lack of self-sufficiency, and this leads to import inflation, and the solution lies in achieving self-sufficiency for all that Iraq needs.

As well as the lack of equal opportunities and the absence of competition, and this leads to raising the value of costs, instability and inequity, and stability is what leads to economic growth.

The main problem in inflation is employment, as the rise in prices occurs due to the low level of employment and skills, as some countries have liquidated money by virtue of the closure, so the workers did not work and production decreased, and in Iraq the problem in employment is greater and worse, and if it does not solve the problem of employment, the problem remains large. Therefore, it is necessary to work to raise the level of skills and invest in building skilled and good workers, and this is what makes the country attractive to investment, whether local or foreign, and eliminates the problem of unemployment, poverty and dependence on the economy.

The answer to the question

The exchange rate achieved the financing goals and spared Iraq a major shock, especially with the presence of currency speculators. As for the economic objectives, such as achieving the competitiveness of domestic production, they have not yet been achieved because they need other conditions, as it was assumed that these conditions should be worked on initially, but the financial situation provided a change in the exchange rate on the previous conditions. Therefore, we cannot observe the economic results of the exchange rate in the short term, and they can be observed in the medium term if the government pursues other policies to support the national product.  LINK

Petra and MilitiaMan From KTFA "The Wheels On The Bus.." Saturday 4-2-2022

KTFA:

Clare:  THIS IS FROM PETRA:

Petra:  If I may provide a little commentary since I am taking the day off. Here is a statement I want all to remember:

When it's NOT God's time, you CANNOT force it. When it IS God's time, you CANNOT stop it!!! There are many things occurring outside Iraq that are global in both price and currency. Such as the price of oil, gold, and currency values such as the ruble.

The world is going thru change and the impact is global. Why is all this happening now? Do I believe the end times are upon us. I sure do, but my comment is for your focus to not be on little old Iraq but on a bigger picture that will require Iraq to reinstate their currency.

We all know what Putin is doing demanding all transactions now to be in Rubles. Putin has also asset backed his currency with Gold.

So what is happening? The Fiat system, as we know it today, is being threatened to drive the other currencies in the world to follow suit.

Who is in India today? The Foreign Minister of Russia! In the middle of a war, he is doing business in India. Makes you wonder why?

 Russia has a couple key components to their strategy. Oil and Gold!!!

What is Iraq rich in? Oil and Gold.

My point being, they cannot stand on the sidelines too much longer and not get lost in the global economics of change occurring....NOW!

So, sit tight, the GOI does not make the RI decisions as we all know and frankly, because of the influence of those bad actors in Parliament, will force outside entities to push the CBI to move forward IMO.

Often folks are concentrating on the right hand and not watching what the left hand is doing. Case in point...the Finance Ministry.

They are working and getting things done, but can only go so far until they need the $$$ to move the country forward. Don't forget the WP's are the key driver in all of this.

In summation, relax, it may not be in Iraq's hands much longer because the world...is talking!!!!....

It truly is a circus but the true thinkers in Iraq are not getting lost in that craziness. They know what is important and they are preparing all steps to make sure they are ready when the CBI pulls the trigger.

Look, we all want this, no doubt. But none of us can change the status. Therefore I rest in God's promises..and timing.  

All IMO.......PETRA  

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MilitiaMan:  Petra, well done and a very calming message for us all. Thank you!!

I agree there is a money component to move forward that has been put in place that will effectively drive the bus of an international free market trade in Iraq.

Iraq is going to be get to a place where the landscape of politics may follow along over time, or even come together in close proximity or even at the same time. If we think of Iraq as a vehicle.

The vehicle I'll call a bus. The wheels on the bus are to be powered by the new  exchange rate.

The AYSCUDA system the BUNA system and the newer CRS2 will digitally see that the engine has the power to rebuild the nation and share the bounty with her citizens rolling into the future.

The borders and ports are now imo ready to facilitate digital, transparent and corruptionless free trade.

The payment and settlement systems through the BUNA platform and the CRS2 digital banking payment system will see to it that the reconstruction efforts of the country are tracked and documented.

Which will see to it that investors can have confidence in that pricing is to be fair and on a level playing field for years to come.

Investors will require a stable exchange rate, the new system will help facilitate and defend the currency all along the way..

Now that we are at the political crossroad with the GOI. It seems like we are at that moment in time where the lights in the intersection just went yellow.. The next change is for the red light in one direction and a green for another. 

Lets see if that red light of the politics gets sorted while we wait for that greenlight of the next IQD exchange rate to go live. 

There comes a time where the system will require the CBI to make an independent move and inter connect with the region and the world, and that move imo may precede the politics if need be.

We shall see though. They didn't get this far to stop the bus, they have it fueled and fully tuned and ready to rill imo..

Time is short from view point. ~ MM

Samson:  Parliamentary proposal to speed up the approval of the budget

2nd April, 2022

Today, Saturday, the New Generation Movement proposed a solution to expedite the approval of the general budget 2022.

The Head of the New Generation Movement, MP Sarwa Abdul Wahed, said that "previous governments, during their transition to conducting business, sent the budget, so it is possible that the budget will be sent." The general public for the current year by the current government, and there is no big problem,” noting that “the new government, after its formation, can make an amendment to the paragraphs it wants.”

Abdel Wahed expressed her "hope that the government will be formed as soon as possible, given the importance of the general budget and its connection to the life of the citizen and his belongings."

With regard to choosing the president of the republic, Abdel Wahed clarified that "the New Generation bloc with naming the president of the republic, whether by consensus, or without it," stressing "the importance of getting rid of this problem, because disrupting the country is not in anyone's interest."LINK

MilitiaMan:  I am liking this one. It is implying there is urgency and a need to see the budget through. The political stalemate is not helping anyone or anything. There has been passed precedent for the budget to be sorted now and that later if need be the budget can be amended. There should be no big problem. So, lets see if there is a budget submitted prior too the 04/06/2022 time frame for the Presidency. Sure will be in interesting time for all to come together. ~ MM

KTFA Members "News and Views" Thursday Afternoon 3-31-2022

KTFA:

Samson:  The Iraqi government reduces the official working hours during the month of Ramadan

31st March, 2022

The General Secretariat of the Council of Ministers decided today, Thursday, to reduce the official working hours by one hour during the month of Ramadan in all government departments and institutions.

This came according to an official letter appended to the signature of the Secretary-General of the Council, Hamid Naim Al-Ghazi, on March 31.

The decision was left to government institutions and departments to determine the reduction, whether at the beginning or end of official working hours.  LINK

Clare:  IN PRINT..THEY STILL WORK DURING RAMADAN. imo

Samson:  After Parliament failed to hold the second session of 'choosing the president'... the framework prepares an initiative to bypass the 'node'

31st March, 2022

Al-Hamami, indicated that the coordination framework is in the process of completing and putting forward an initiative in order to proceed with negotiation, dialogue and understanding in order to end the state of political blockage.

"It has become clear to the political forces the general situation and that there is no way but to sit at the table of understanding and end the political blockage for which the Iraqi citizen pays,  LINK

DeepWoodz:  imo   Sadr said NO

 Article 70     Second

If none of the candidates receive the required majority vote then the two candidates who received the highest number of votes shall compete and the one who receives the majority of votes in the second election shall be declared President.

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Samson:  Trade Bank of Iraq

31st March, 2022

Dear customers, for the purpose of achieving the highest level of security improvements followed in ATM and the application of the bank, a security check will be carried out, so we would like to ask your attention in case of a service discontinuation on Friday 1/4/2020 for 12 hours and starting at 1 o'clock in the morning for the purpose of updating.  LINK

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Samson:  Erbil announces Ramadan plan and warns merchants: We will not allow you to raise prices

31st March, 2022

The mayor of Erbil Governorate announced on Thursday that it is monitoring the markets in anticipation of a rise in food prices with the approach of the month of Ramadan.

Nabz Abdul Hamid, the mayor of the district of Erbil, toured the markets to see the prices of foodstuffs and urged merchants not to raise prices.

Abdul Hamid said in a press conference held on this occasion and attended by Shafak News Agency, that this visit came with the specialized committees in Erbil governorate to monitor market conditions, especially as we are approaching the month of Ramadan, and perhaps some traders are raising prices, adding, "We are constantly monitoring market conditions from Through the specialized committees, the demand for food, especially sweets, should not be a motive for traders to raise prices.

He added, "These committees will be in constant monitoring of markets and prices, and we want to assure citizens that we will not allow traders to take advantage of the situation to raise prices.  LINK

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Samson:  Oil prices fall $ 6 as America seeks to liberate 180 million barrels

31st March, 2022

Oil prices fell more than $6 a barrel on Thursday, as the United States considered freeing up to 180 million barrels of its Strategic Petroleum Reserve over several months to calm surging crude prices

Brent crude futures fell $5.15, or 4.54 percent, to $108.30 a barrel at 04:30 GMT. US West Texas Intermediate futures fell $6.17, or 5.67%, to $101.71 a barrel, after falling earlier to $100.85

Three sources said that US President Biden will make statements later on Thursday announcing the plan aimed at reducing gasoline prices, which rose to record levels in the wake of the Russian invasion of Ukraine, which is to free 180 million barrels of oil

News of the possible release of US oil overshadowed a meeting scheduled for later on Thursday between the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia

The group known as OPEC+ is expected to stick to its current agreement to gradually increase oil production

Oil prices rose about 3% on Wednesday, driven by supply concerns as peace talks between Russia and Ukraine, which describe their actions as a "special operation", stalled

Russia is the world's second largest oil exporter, and sanctions imposed as a punishment for the invasion have disrupted flows from the country, driving up prices

In November, the United States announced a plan to release 50 million barrels of Strategic Petroleum Reserve, mostly through exchanges where the buyer agrees to exchange oil at a later date

The study of liberating the quantities of US oil comes at a time when US commercial oil stocks fell by 3.4 million barrels in the week ending on March 25  LINK

Some "Tuesday News" Posted at KTFA 3-29-2022

KTFA:

Samson:  Saleh: The current year's budget may calculate the price of a barrel of oil at sixty dollars

29th March, 2022

Mazhar Muhammad Salih, the financial advisor to the Prime Minister, said that the current year's budget may calculate the price of a barrel of oil between 50 and 70 dollars per barrel.

Saleh indicated that this matter has not been resolved so far, expecting that a barrel of oil will be calculated at sixty dollars.

It is likely that this budget will be expansionary, and most of the increases in it will be spent on food allocations for trade and the food security project, in addition to the 100,000 grant that the government intends to distribute to a number of groups.  LINK

Clare:  Hoshyar Zebari challenges Parliament's presidency: Do you have the courage to hold the absent MPs accountable?

 29/03/2022

The leader of the Kurdistan Democratic Party, Hoshyar Zebari, announced, on Tuesday, his challenge to the parliament's presidency in holding the representatives who boycotted the parliament sessions to account.

Zebari said in a tweet on "Twitter" followed by "Mawazine News", "Does the elected Presidency of Parliament have the courage and boldness? To hold the parliamentarians who boycotted the parliament session accountable by name and list and contrary to their constitutional obligations and Law No. 13 of 2018.

He added, “There are explicit texts that they must attend parliament sessions. And no diligence in the text resource. We hope that tomorrow's session will go well."

The House of Representatives intends to hold its third session on selecting the President of the Republic, tomorrow, Wednesday.     LINK

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Clare:  It includes two paragraphs.. Parliament publishes the agenda for tomorrow's session

022-03-29 15:57

 The Media Department of the House of Representatives announced, on Tuesday, the agenda for tomorrow's session, Wednesday.

The agenda includes the election of the President of the Republic and the formation of permanent parliamentary committees.

Last Saturday, March 26, the Iraqi Council of Representatives held a session dedicated to electing the president of the republic. The coordination framework and other blocs and deputies broke the quorum of the session by not attending, which called on the Presidency of the Council to adjourn the session to Wednesday, March 30, to elect the president.

According to the data, the framework, forces and representatives that boycotted the Saturday session are still refusing to attend tomorrow's session, and it was not clear whether some of them changed their minds or joined them by new MPs.  LINK

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Samson:  What is the penultimate .. Parliament convenes tomorrow to resolve the President of the Republic

03/29/2022 09:25:57

 The House of Representatives will hold, tomorrow, Wednesday, a second session to elect the President of the Republic, after it failed last Saturday to accomplish this task as a result of differences between the coordination framework and the Patriotic Union of Kurdistan on the one hand and the allied forces in {Save the Homeland}.

With expectations of a new failure in the absence of consensus, Wednesday's session will be the penultimate; The constitutional deadline set by the Federal Supreme Court expires on April 6.

While some legal experts believe that there is no longer a solution to the political impasse, other than for Parliament to dissolve itself, other experts believe that the Federal Supreme Court is the one that takes final and binding decisions for all authorities, to disrupt the election results, or even resort to dissolving Parliament from on the premise that one of the first tasks of the elected parliament is to elect a new president of the republic.

And between defenders and opponents, the political forces continue to mobilize in order to complete the quorum for the election of the president for the first coalition, and disrupt it for the second coalition.

At a time when the “Save the Homeland” coalition failed to secure a quorum of two-thirds, which is 220 deputies, during last Saturday’s session, which was attended by 202 deputies, the counter coalition, which includes the forces of the coordination framework and the National Union, was able to disrupt the election session, after owning what had become known in Iraq as the "guarantor third".

The efforts of both parties are focused on moving independent representatives in order to win over each other to the side to achieve a quorum, with the dispersion of the positions of some independent representatives and their fluctuations with each party. 59 candidates are competing for the position of president, most notably the Patriotic Union of Kurdistan (PUK) Barham Salih and the Kurdistan Democratic Party Reber Ahmed. Saleh enjoys the support of Shiite forces within the "coordination framework", while Ahmed receives support from the "Save a Homeland" coalition.

It is customary for Sunnis to head the parliament, Kurds to head the republic, and Shiites to head the government, according to a constitutional custom that has been in place since 2003.

The elected president of Iraq is the one who assigns the parliamentary bloc's most numerous candidate to form a government. The early parliamentary elections were held in October 2021, and disagreements continue between the political forces regarding the candidates for the presidency of the country and the prime minister.  LINK

Samson:  The exchange rate in Iraq .. real or not?

28th March, 2022 by Hamed Abdul-Hussein Al-Jubouri

The exchange rate represents one of the policies that governments can resort to to address an economic problem afflicting the country, as happened in Iraq after 2003 and the last of which was in 2020.

Where the Iraqi government, through the Ministry of Finance and in agreement with the Central Bank, reduced the value of the Iraqi dinar in exchange for raising the price of the US dollar to 1450 instead of 1182 at the end of 2020, for financing (deficit financing), monetary (maintaining foreign reserves) and economic (improving production competitiveness) reasons. national) in the medium term as well as the long term.

The source of the dollar, the state or the private sector?

By virtue of Iraq owning a large oil reserve estimated at more than 145 billion barrels, producing more than 4 million barrels per day, and exporting more than 3,400 thousand barrels per day, in 2020, the Iraqi economy has become an oil economy. It depends on oil in large proportions, more than 40% of the output and more than 90% of public revenues, and more than 99% of merchandise exports.

The state also dominates over oil, as all dollar oil revenues are recorded in the general revenues section of the budget after being converted into the Iraqi dinar to feed public expenditures.

The neglect of the private sector, due to the lack of an attractive investment environment for national as well as foreign private investment, means a rise in production costs and prices, respectively, a decline in competitiveness and other commodity exports, and a recent decline in the dollar returns of the private sector. Given the economy's dependence on oil on the one hand, the state's dominance of oil on the other, and the neglect of the private sector on the third, the state has become the main source of dollars in the Iraqi economy.

Mechanism

Where the state exports oil through the Ministry of Oil and SOMO in particular, and the Ministry of Finance receives the oil dollar, and since it needs the Iraqi dinar to finance the general budget, it will sell the dollar in exchange for the Iraqi dinar.

At the same time, the Central Bank buys the dollar at a specific price (official exchange rate) from the Ministry of Finance as the main source of the dollar, and then sells it through the currency window in order to satisfy the demand for the dollar and achieve the stability of the exchange rate, which is one of the goals of the Central Bank.

Assuming that the central bank did not enter as a seller of the dollar, at this moment we will notice a significant increase in the dollar exchange rate, due to the increased demand for the dollar to meet imports, and that the main source of the dollar is the state and the central bank buys it from it, and the private sector cannot satisfy the demand for the dollar because it basically weak, as mentioned above, and therefore the exchange rate in Iraq is not real.

The real exchange rate is determined by the real forces of supply and demand

Because the real exchange rate is determined according to the forces of supply and demand in the market without the intervention of the central bank, meaning that it reflects the reality of the economy, is it a strong or weak economy? Because a strong economy will be able to provide the dollar through its competitiveness, increase exports, and provide the dollar in a way that balances the demand for it.

And the opposite is true, as is the case of Iraq, given the weakness of its real economy away from the state. It cannot provide the dollar in a way that achieves a balance because it loses production, competitiveness and export. Rather, it imports most products from abroad, which means there is an increase in demand for the dollar in order to satisfy the import in exchange for the weak supply of the dollar from Before the real economy, and if the Central Bank did not intervene to provide the dollar in the market, the price of the dollar would have risen to record numbers.

In other words, the Iraqi dinar exchange rate is a price supported by the Central Bank by entering it as a seller of the dollar, providing it in the market, through the currency window, this saving means the lack of scarcity of supply and thus achieving (imaginary) balance because it was not achieved by the forces of supply and demand on the dollar that depend mainly on the real economy.

Reforming and running the economy

It is not possible to liberalize the exchange rate and leave it to be determined according to the forces of supply and demand for the dollar in order to reach the real exchange rate without working first to provide the drivers of dollar savings in the real economy.

This requires reforming the real economy, by working to increase the contribution of non-oil revenues, increasing the contribution of other productive sectors to the gross domestic product, increasing the contribution of the private sector to the economy, and employing oil revenues in a way that contributes to revitalizing and stimulating the economy.

This reform requires, first of all, fighting corruption, providing an attractive investment environment for private investment in various real productive sectors, and involving the private sector in investment to be more capable of taking action and investing.

Conclusion

Operating the economy with high efficiency means increasing production at a lower cost, increasing exports, and providing the dollar away from the state, in a way that achieves balance with the demand for it, and here the exchange rate will be a real price because the bank did not intervene through the currency window to achieve balance.  LINK

Some "Monday News" Posted by Samson 3-28-2022

KTFA:

Samson:  Parliamentary Finance decides to host the Ministers of Finance and Trade next Wednesday

28th March, 2022

Today, Monday, the committee decided to host the ministers of finance and trade, next Wednesday, to discuss the financial abundance and the ration card.

The committee stated, according to the official agency, that "the Parliamentary Finance decided to host the ministers of finance and trade, next Wednesday, to discuss the financial abundance and the ration card, provided that during the next week, it will host the ministers of finance, electricity, planning, agriculture, labor and trade, a number of relevant officials and the Governor of the Central Bank to discuss the related files." 

Today, the Council held its session headed by Al-Halbousi and attended by 258 deputies.   LINK

Samson:  For The First Time In Iraq... Launching The Electronic Customs Declaration

28th March, 2022

The General Authority of Customs announced, on Monday, a comprehensive plan to reduce the evasion of paying customs duties, while referring to the work of the electronic customs declaration for the first time in Iraq.

The Director-General of Customs, Shaker Al-Zubaidi, said in a declaration that the Iraqi News Agency reported that "the authority launched the service of working with the customs declaration at the Al-Mundhiriya port," noting that "it will be gradually generalized in all customs centers and directorates across the country." He added, "The service, which falls within the framework of the use of modern information and communication technology, aims to verify the validity of goods subject to the tax mark, eliminate forgery of customs links by examining the data related to them and getting rid of the paper declaration, in addition to eliminating the monthly deportation of the permit by setting up The direct server system between the customs centers and the general headquarters.

He pointed out that "the launch of the permit service under the supervision of Minister of Finance Ali Allawi comes to achieve the objectives of the first phase of the automation system, reduce the number of documents and reduce logistical costs for exporters and importers by simplifying and rationalizing procedures, benefiting from the promising capabilities of technology and the digital economy, and enhancing the efficiency and effectiveness of regulatory control over the flow of goods and merchandise, as well as On improving competitiveness, management efficiency, transparency and partnership between government agencies and economic actors (investors and manufacturers). He added, "The automation system will allow the concerned person or his authorized representative to attach the required documents to the statement before leaving the export port or before arriving in the country, so that customs procedures can be completed according to the documents submitted and attached to the brief statement before arrival."

In another context, Al-Zubaidi stated that "there is a comprehensive and discreet plan to reduce the evasion of customs duties and smuggling at all levels, as well as the issuance of new strict controls in support of the validity of customs permits for companies and banks for the currency auction at the Central Bank." He pointed out that “the authority issued four directives regarding the validity of the issuance of customs permits. It included: the customs centers confirming the validity of the issuance of the automated customs declaration in the electronic calculator database and the manual declaration at the Customs Affairs and Inspections Department, according to the applicable context, as well as approaching the departments of the Ministry of Land, Maritime and Air Transport operating at border ports for the purpose of confirming the validity of the issuance of the manifests issued by them and special delivery orders. entry into the cargo.

He added, "The directives also included demanding all receipts of fees and the validity of their issuance, as well as approaching the tariff audit department at the authority's headquarters for the purpose of matching automatic and manual permits and supporting the validity of their issuance." He pointed out, "The General Authority of Customs recently announced the launch of its first service (customs electronic inquiry for wheels), on the authority's official website, allowing citizens to inquire about customs transactions procedures for wheels, without the need to bother reviewing the authority."  LINK

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Samson:  Customs Adopts Advanced Digital Systems To Manage Human Resources And Electronic Permits System

28th March, 2022

The General Authority of Customs announced today, Monday, the adoption of advanced digital systems to manage human resources and the electronic permit system.

A statement by the authority received by Earth News stated, "The Director General of the General Authority for Customs, Shaker Al-Zubaidi, chaired today, Monday, a meeting that included a number of directors of the authority's headquarters departments and programmers charged with preparing software to manage two systems, the first for managing electronic permits and the second system for human resources management."

The statement added that "the authority's cadres prepared two systems, the first for the management of customs permits, which adopted modern technology that will provide several points, including: -

Cancellation of the monthly deportation of the customs transaction.

Manipulation and fraud customs receipt.

Scheduling and organizing exemptions with an accurate database.

Linking the sections of each border post with the headquarters of the Commission.

Register the data of customs clearance agents and importers.

An electronic interface for customs matters that include exemptions and deferred fees.

Knowing the authorized and deducted quantities and knowing the remaining quantities.

Include the formatted code to know the materials by quantity and category and to know the remaining quantities.

The system has the ability to quickly complete electronic permits at a maximum speed and detect fraudulent customs permits with high data security.

The statement pointed out that “the second system, which will manage the human resources working in the authority, where the system was designed with modern technology, is the first government department to implement such a system that will achieve a number of goals, including: –

Save all administrative employee movements.

Know the movement of the angel.

Provides various customized reports.

He pointed out that "this step comes within the framework of the serious and accelerated steps taken by the authority to move to the digital world and leave paperwork to become one of the first departments to contribute to the transition to e-government."  LINK

Samson:  Integrity reveals the issuance of arrest warrants and the recruitment of officials in 3 governorates

03/28/2022 09:32:17

The Integrity Commission revealed the issuance of arrest and summons orders against a number of officials in the governorates of Babil, Diwaniyah and Maysan; Against the background of cases of violations, embezzlement, and intentional harm to the interests of the parties in which they work.

The Commission's Investigation Department, in its discussion of the details of arrest and recruitment orders, indicated that the Karkh Investigation Court, which is specialized in looking into integrity issues, issued an arrest and investigation order against the former governor of Babylon; For committing violations in the purchase of waste containers that were prepared for the Babylon Governorate Diwan without requests for need or submitting offers from competing companies, as well as not forming procurement committees and not entering them in stock.
 
The department added that the Diwaniyah Investigation Court, which is competent to look into integrity issues, issued an arrest warrant and investigation against the former head of the Diwaniyah Provincial Council on the issue of issuing an order from the council that includes allocating an amount of 25% of the revenues generated from selling iron and scrap at the Diwaniyah tire factory of the General Company for Rubber and Tire Industries for the benefit of the public. Provincial Council.
 
It confirmed that the investigative court specialized in integrity issues in Maysan Governorate issued an order to bring in the general manager of the Maysan Oil Company; For his failure to report the crime that was admitted by the fugitive accused, director of the individual accounts department and the official of the payments division in the company, represented in embezzling an amount of one billion and 320 million dinars and forging seals and signatures on exchange documents; This facilitated the escape of the accused against whom an arrest warrant was issued with the embezzled amounts. The department explained that the arrest and recruitment orders were issued in accordance with the provisions of Resolution (160 of 1983) and Articles (340 and 315) of the Iraqi Penal Code No. (111 of 1969).

It is worth noting that the authority revealed on the seventh of this March that the amount of one billion and 320 million dinars was embezzled through the repeated disbursement of salary documents and statements to employees of the Maysan Oil Company.   LINK

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Samson: Europe freezes 120 million euros in Lebanese assets

28th March, 2022

The European Judicial Cooperation Unit "Eurogast" announced today, Monday, that France, Germany, Luxembourg, Monaco and Belgium have frozen Lebanese assets worth 120 million euros ($130 million) following an investigation into a money laundering case, indicating the confiscation of five properties.

The unit said in a statement, that the investigation targeted five suspects on charges of money laundering and "the embezzlement of public funds in Lebanon worth more than $330 million and five million euros, respectively, between 2002 and 2021."

The statement did not specify the identity of the suspects. A Eurojust spokesman declined to reveal the names of the suspects, in line with regulations.

"Eurojust" participated in coordinating the inter-state meetings that are investigating the Governor of the Banque du Liban, Riad Salameh, who is suspected by Swiss prosecutors of embezzling about $330 million with his brother Raja, and his close assistant, Marianne Howayek. At least four other countries, including Germany, France and Luxembourg, are also investigating with Salameh.

A diplomat from one of the countries where the assets were identified confirmed that this step is related to the investigations into Salameh and his brother, according to the "Reuters" agency. 

A central bank spokesman did not respond to a request for comment. 

The statement said that the confiscated assets included about 35 million euros in Germany, which included real estate in Hamburg and Munich, two real estate complexes in Paris worth 16 million euros, and bank accounts in Monaco worth 46 million euros. "Despite the conclusion reached so far, the accused in the main investigation are presumed innocent until proven guilty under the law," the statement said.

In April last year, two complaints targeting Salama and his large fortune in Europe were filed with the anti-corruption prosecutor in Paris. Salama stresses that all his money is authorized and legal and that he accumulated his wealth from what he inherited and through his career in the financial sector.

According to Le Monde newspaper, the governor of the Banque du Liban clarified, last year, that “his personal assets amounted to $23 million” when he took office in 1993, and that “the increase in his wealth since then was caused by investments that do not conflict with the obligations associated with his duties,” which experts deny. Lebanese law.

Since 2019, Lebanon has witnessed the worst economic crisis in its contemporary history, a collapse in the value of the national currency, and the imposition of banking restrictions prohibiting bank transfers outside the country.  LINK

MilitiaMan Sunday Afternoon "Transform to a New Era" 3-27-2022

KTFA:

GodLover: Security & stability will come from a new seated government. I do agree, as everyone likely does, that the NSCN's will not work with a program rate. I wish I could believe the NSCN's had been printed & the training has happened & continues, but I have not seen any evidence of this. Certainly the opening of the 2022 budget will prove one way or the other. 

MilitiaMan:  FWIW, per my personal conversation with Delta who reads Arabic, my personal conversation with Pompey Peter and his contacts that have seen the data printed in Arabic spreadsheet showed that the CBI spent tens of millions $ on printing new currency, not to mention the film of them destroying large 000s notes.

As for training on the NSCN's (New Small Currency Notes)  I have nothing to support that to be true personally, however, I like to believe that WSs bank connections would have knowledge of said training and to what levels done from top down, they would know and would specifically have a need to know.

MilitiaMan Cont……There is nothing to support that the project to delete the zeros is not moving forward and for Iraq to go "Transform To A New Era" . A new era would require the NSCNs to have been printed by now.

So whether one believes about the level of training or not one will have to A) dig very deep into the CBI Archives on spending to verify they were or B) just wait and see if in fact they do delete the zeros from the exchange rate or not to be IMF Article 8 compliant 100%.

In my view the wait should not be all that long from here to find out. ~ MM

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Clare:  Coverage of Wednesday's session.. Governor of Zamili: Disruption of next Wednesday's session may lead to announcing an emergency government

 3/27/2022 8:39:18 AM   Baghdad/The Obelisk:

Governor Al-Zamili: Disrupting the session next Wednesday may lead to the announcement of an emergency government

The National Union: We will not attend the parliamentary session and warn of armed confrontations

LINK

MilitiaMan:  This person has been very public. A Sadrist, with a very colorful past. I would keep this one, as possibly a poor translation or one to question , as to if it is a legitimate concern.

At this stage the Coordination Framework (Maliki)  is not likely to be to all that happy. Amiri and many (not all) of his group showed up to the session yesterday. That may be why Sadr suggested it was historical or something along those lines.

Amiri has milita connections.. Once a quorum is reached (hopefully Wednesday ) there may be what Allawi is mentioning to do. That is to "Transform into a New Era", one where prosperity exits.. imo ~ MM

MilitiaMan Saturday PM "A Very Good Time We Are In" 3-26-2022

KTFA:

MilitiaMan: The Finance Minister has his committee approved. (See articles below)  He is praising the White Papers and the importance of them.

The "Transformation into a New Era" should not be lost on anyone. They have been consistently telling us they are going to change the exchange rate and even one where it is to be back to a previous era.  The era that supports a "Transformation into a New Era" is for Iraq to revert to an era that mirrors the need for NSCNs and fils.

The previous program rate of 1190 or 1182 or 1166 don't and will not work with the NSCNs and fils.

There is no data to support that that would be in the White Papers..

They have told us they are using and are on a Digital Transformation roadmap. We know they have the AYSCUDA for taxation, the BUNA and the new CRS2 platforms for clearing currencies and payments and settlements down to the retail level.

Regardless of the political side the Finance Ministry (FM) side of the monetary reform process is looking to be ready to go with approved committee in place.

I suspect that the CBI is and has been ready, as well.

 It is the CBI and FM that need to work in conjunction with each other with respect to the exchange rate change back to a previous era that will usher them into a new era moving forward.

One that brings purchasing power. One that has an IMF Article 8 compliant currency rate with the ability to trade on a level playing field and able to have freedom of capital movement across all borders regionally and globally.

Whether or not is happens prior to the seating of the Presidency, Prime Minister, Cabinet members or not it appears there is a convergence between them.

There is a view, that the CBI could do as they have in the past, change the rate when they are ready.

The have the FM on board, they even have the politicians all on board based off many articles on the matter.

So, it is not like there is going to be any …hold on a minute.. I didn't want purchasing power... You can't change the rate until all of us politicians sit in our respective seats. lol .

If it happens to be that is the case? They are to have the next vote session on 03/30/2022..  Not very far off.. imo..

Security and stability and the settlement of differences has been sorted and has played out too.

All imo a very good time we are in.. ~ MM

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In the names.. members of the Finance Committee after the parliament vote

 2022-03-26 09:16

 On Saturday, the Iraqi parliament approved the names of the members of the Finance Committee in the Iraqi parliament.

According to the statement of the Media Department of the Iraqi Parliament, the members of the Finance Committee are:

Deputy Hassan Al Kaabi

Representative Muhammad Tamim

Representative Falah Al-Zaidan

Representative Star Attabi

Deputy Muhannad Khazali

Representative Ahmed Mazhar

Representative Rebwar Ur Rahman

Deputy Nazim Al-Shibli

Deputy Khalil Al-Ghazi

Deputy Mishaan al-Jubouri

Deputy Faleh Al-Sari 

Representative Abd al-Abbas al-Absawy

And the Iraqi Council of Representatives, earlier on Saturday, raised its session to next Monday.

A brief statement by the Parliament's media department stated that the Speaker of the House of Representatives adjourned the session to elect the President of the Republic next Wednesday, while a regular session will be held next Monday.

On Saturday, Parliament Speaker Muhammad al-Halbousi opened a regular session of the House of Representatives, attended by 202 deputies, in a session that was scheduled to choose the President of the Republic.  LINK

The Minister of Finance, praising the “White Paper”: Oil price fluctuations negatively affect Iraqi society

Economie- 03-26-2022 09:26 PM - Number of readings: 924

Finance Minister Ali Abdul-Amir Allawi confirmed, today, Saturday, that fluctuations in oil prices in global markets affect Iraqi society by creating "chronic and costly crises" for it, praising the "white paper" in rebalancing the Iraqi economy.

Allawi said in his speech during the activities of the Doha Forum for International Dialogue, that "the goal of reaching a world free of crises, violations and wars is not easy to reach, unless there is "good intentions, international will and equal dialogue" to resolve differences and reduce conflicts to silence the voice of war and the harbinger of destruction.

He pointed out that the number and expansion of conflict hotspots in the world "is what worries the world", and that this is no less concerned about the effects of the Corona pandemic.

He added, "There is no doubt that the establishment of security and stability and the settlement of differences between the Arab countries and their regional and international surroundings add to the world the factors of recovery, peace and prosperity. It is the hoped-for role of reviving the factors of history and geography in spreading incentives for dialogue as an objective and moral alternative to conflict."

Allawi indicated that Iraqi society suffers from chronic and costly crises deepened by fluctuations in oil prices in the global market, due to the impact of the Corona pandemic and terrorism, and that the decline in Iraqi oil revenues and terrorism were a source of concern at all governmental, political and popular levels, and it is a legitimate concern in the context of the historical deterioration of the global economy.

https://www.dijlah.tv/index.php?page=article&id=303661

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Finance Minister: The importance of the white paper was embodied in restoring balance to the Iraqi economy

Baghdad / Obelisk: The Minister of Finance, Ali Abdul-Amir Allawi, confirmed, on Saturday, March 26, 2022, that the white paper restored balance to the Iraqi economy.

The media office of the Minister of Finance stated, in a statement received by Al-Masala, that the Minister of Finance, Ali Abdul-Amir Allawi, participated in the activities of the Doha Forum for International Dialogue held in the sisterly State of Qatar in its 20th session, which will continue for the period from 26 to 27 March 2022.

The statement explained that the forum, which bore the slogan "Transformation into a New Era," aims to launch a dialogue on the critical challenges facing the world, promote the exchange of ideas and policy-making, and present viable recommendations.

Allawi said during his speech at the forum, that the goal of reaching a world free of crises, violations and wars is not easy to achieve, unless there are good intentions, international will and equal dialogue to resolve differences and reduce conflicts to silence the sound of war and the omens of destruction, so health recovery is no longer worrisome after suffering severely from the effects of the pandemic. Corona, but rather the multiplicity of foci of the armed conflict and its expansion is what worries the world.

He added: There is no doubt that the establishment of security and stability and the settlement of differences between the Arab countries and their regional and international surroundings add to the world the factors of recovery, peace and prosperity, which is the hoped-for role of reviving the factors of history and geography in spreading incentives for dialogue as an objective and moral alternative to conflict.

He added that Iraqi society suffers from chronic and costly crises deepened by fluctuations in oil prices in the global market, due to the impact of the Corona pandemic and terrorism, and that the decline in Iraqi oil revenues and terrorism were a source of concern at all governmental, political and popular levels, and it is a legitimate concern in the context of the historical deterioration of the global economy

 So the need was The national economy has turned to a financial strategy for two things, the first is short related to borrowing for the purposes of meeting urgent needs, and the second is long-term, represented by the white paper for economic and financial reform to avoid expected fluctuations and achieve reassurance of a decent life, and create new economic partnerships at all levels.

He added that the importance of the white paper is embodied in rebalancing the Iraqi economy and placing it on a path that allows the state to take appropriate steps in the future to develop it into a dynamic diversified economy that creates opportunities for Iraqis to live a decent life by proposing a set of comprehensive reforms and policies, and protecting the weak and fragile groups in society, which are more affected by some aspects

Reform by increasing social protection allocations, supporting the food basket and small and medium enterprises, and activating health measures to counter the effects of the pandemic, and the reform paper took into account the repercussions of rising global food prices on the life of Iraqi society, which is the result of measures outside its control regarding the high costs of production, transportation, shipping and marketing.

He concluded his speech by saying: I take this opportunity to express my sincere thanks for the hospitality and organization, and our sincere and heartfelt wishes for the continued progress and prosperity of the organizing sister country and all participating countries.