Unexpected Iraqi News Posted by Samson at KTFA 8-16-2022

KTFA:

Samson:  Finance Minister Ali Allawi submits his resignation during the cabinet session

16th August, 2022

Minister of Finance Ali Allawi submitted, today, Tuesday, his resignation from his position during the cabinet session.

A source told "Mawazine News", that "Finance Minister Ali Allawi submitted, during the cabinet session held today, his resignation from his position."

Today, Tuesday, the Council of Ministers held its regular session, headed by Prime Minister Mustafa Al-Kazemi.  LINK

Samson:  The Minister of Finance submits his resignation, and Al-Kazemi agrees

16th August, 2022

On Tuesday, Iraqi Finance Minister Ali Allawi submitted his resignation from his post.

A source in the Council of Ministers told Shafaq News Agency, that Al-Kazemi agreed to resign during the current cabinet session.

It is not yet clear the reasons for the resignation.  LINK

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Samson:  Al-Kazemi assigns the Minister of Oil the duties of the Ministry of Finance as an agency

16th August, 2022

On Tuesday, Prime Minister Mustafa Al-Kazemi assigned Oil Minister Ihsan Abdul-Jabbar with the tasks of managing the Ministry of Oil as an agency.

An informed source in the Council of Ministers told Shafaq News that the decision to assign it will be temporary, and it came after the approval of the resignation of Finance Minister Ali Allawi.  LINK

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Samson:  With the resignation of the Minister of Finance.. the dollar is falling in the Baghdad markets

16th August, 2022

The dollar exchange rates declined in Baghdad markets, on Tuesday, with the resignation of Finance Minister Muhammad Allawi.

Shafak News Agency correspondent said that the Central Kifah and Al-Harithiya Stock Exchange in Baghdad registered at 3:00 pm today, Tuesday, 148,200 Iraqi dinars, compared to 100 US dollars.

The price of the dollar this morning recorded 148,450 Iraqi dinars, compared to 100 dollars.

Our correspondent indicated that buying and selling prices decreased in banking shops in the local markets in Baghdad, where the selling price amounted to 148,750 Iraqi dinars per 100 US dollars, while the purchase prices amounted to 147,750 Iraqi dinars per 100 US dollars.

This decline comes shortly after the Iraqi Finance Minister, Ali Allawi, submitted his resignation from his position during the session of the Council of Ministers held, while the Prime Minister agreed to it.

LINK

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Samson:  Food security and the white paper.. Expose the reasons for the resignation of the Minister of Finance

16th August, 2022

A political source revealed the reasons for the sudden resignation of Iraqi Finance Minister Ali Allawi.

The source said in an interview with / Mawazine News / that "Allawi met with Al-Kazemi before today's session and spoke about his resignation before entering today's session."

He added, "Allawi justified his resignation by continuing corruption in the banking sector and not implementing the terms of the white paper, with the exception of the paragraph of raising the dollar, as well as political interference in the ministry's work."

He indicated, "Among the reasons is the disbursement of the funds of the Emergency Food Security Support Law," noting that "Al-Kazemi tried to dissuade Allawi from resigning, but the latter was insisting on his resignation."   LINK

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Samson:  An Iraqi move to establish economic free zones

15th August, 2022

The Free Zones Authority confirmed, on Monday, that Iraq is ready to establish free zones, and the presence of all factors of success, while indicating that there is a tendency to establish free zones adjacent to the Baghdad and Najaf airports

The director of the Free Zones Authority, Munther Abdul Amir Asad, said in a statement to the official news agency, "Iraq is ready and all the factors for success exist to establish free industrial, commercial or multi-activity zones

He added, "The authority has a plan approved by the board of directors to establish free zones adjacent to Baghdad International Airport and Najaf International Airport and a free zone on the Iraqi-Jordanian border, which is part of the joint economic city, and this will be one of the most important future projects as well as working to open free zones near the border." Iraq - Saudi Arabia

He pointed out, "It is important to establish free zones near the hubs of external roads, and this supports the process of trade exchange and foreign trade development  LINK

Samson:  Oil prices continue to decline amid fears of economic recession

16th August, 2022

Oil prices fell on Tuesday, as bleak economic data from China, the largest buyer of crude, renewed fears of a global recession.

Brent crude futures fell 82 cents, or 0.86 percent, to $94.27 a barrel by 04:59 GMT.

West Texas Intermediate crude futures were down 52 cents, or 0.58%, at $88.89 a barrel.

Oil futures were down about 3% during the previous session.

China's central bank cut lending rates to revive demand as the economy unexpectedly slowed in July, with factory and retail activity slashing due to Beijing's COVID-free policy and real estate crisis.  LINK

Investors also watched talks to revive the 2015 Iran nuclear deal, with analysts predicting that more oil could enter the market if Iran and the United States accepted an offer from the European Union to lift sanctions on Iran's oil exports.

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Samson:  Iraq records a decline of nearly a billion dollars in holding US bonds

16th August, 2022

The US Treasury announced, on Tuesday, that Iraq's possession of US bonds decreased by nearly one billion dollars during the month of June.

The Treasury said in its latest schedule, seen by Shafaq News Agency, that "Iraq's possession of US Treasury bonds for the month of June of 2022 decreased by 929 million dollars, or 2.82%, to reach 31.965 billion dollars, after it was 32.894 billion dollars in the month of May," indicating "These bonds rose from the same month last year, 2021, when Iraq's possession of bonds amounted to $21.2 billion."

She added that "Iraqi bonds, including long-term guarantees amounting to 15.939 billion dollars and short-term guarantees amounting to 16.026 billion dollars," noting that these bonds represent 0.4% of the world's bonds.

In the Arab world, Saudi Arabia is at the forefront of the most possessing countries, reaching 119.155 billion dollars, Kuwait comes second with 45.957 billion dollars, the UAE comes third with 39.868 billion dollars, then Iraq is fourth, Oman is fifth with 6.702 billion dollars, then Morocco comes with 3.892 billion dollars.

And she pointed out that "the largest holder of US bonds is Japan, at $1,236.291 trillion, followed by China, at $967.778 billion, followed by the United Kingdom, at $615.413 billion, and then Luxembourg with $306.833 billion."  LINK

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Samson:  Talabani assigns "commando forces" to cleanse a government institution of "corrupt officials"

16th August, 2022

The leadership of the commando forces of the Patriotic Union of Kurdistan announced on Tuesday that it had received orders from the President of the Patriotic Union of Kurdistan to purify the Sulaymaniyah municipality of the corrupt. 

The forces said in a statement received by Shafak News Agency; Recently, several irresponsible parties and government officials, under pressure, allocated several plots of land and occupied them for their own purposes, and prevented the implementation of many strategic projects that were implemented to serve the city.

The statement added; The head of the Patriotic Union of Kurdistan, Pavel Talabani, ordered the commandos of Kurdistan to move towards the Sulaymaniyah municipality to purge corrupt officials and arrest those who obstructed the implementation of service projects in the city.

The "commando forces" are a military force affiliated with the Patriotic Union of Kurdistan, supervised by the Vice President of the Kurdistan Region and member of the Political Bureau of the Patriotic Union of Kurdistan, Jaafar Sheikh Mustafa, and it is under the command of the President of the Patriotic Union of Kurdistan.  LINK

Some "Monday News" Posted by Samson at KTFA 8-15-2022

KTFA:

Samson:  Zebari warns of a civil war in Iraq: Shiite tension has reached its peak

15th August, 2022

The leader of the Kurdistan Democratic Party, Hoshyar Zebari, warned on Monday of a civil war that may occur in Iraq unless it is prevented, while indicating that the political tension between Shiite forces has reached its peak.

Zebari wrote in a tweet he posted on his Twitter account, "Civil wars do not happen by leadership decisions. The Kurdish war in 1994 did not start with a decision by Messrs. Massoud Barzani and Jalal Talabani, but isolated and sporadic incidents of violence by field leaders were the cause."

He added that "the current political tension between the Shiite forces, the framework and the current, has reached its peak and must be prevented, and let us benefit from history."

The political scene in Iraq has been going through a dangerous turn since supporters of the Sadrist movement led by prominent Shiite cleric Muqtada al-Sadr stormed the parliament building in the fortified Green Zone in central Baghdad, and staged a sit-in in protest against Al-Sudani’s nomination for the position of Prime Minister of the next federal government, at first, before the ceiling rose

Their demands are to dissolve parliament and hold early elections, after a call from their leader Muqtada al-Sadr.  LINK

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Samson:  The Integrity Commission announces the imminent recovery of two billion dollars smuggled from abroad

15th August, 2022

Today, Monday, the Federal Integrity Commission announced the imminent recovery of two billion dollars, while confirming that some countries deliberately not cooperate to recover Iraqi funds

The head of the Integrity Commission, Alaa Al-Saadi, said in a statement to the Iraqi News Agency that "there is a law to recover Iraq's money issued in 2012 and until the year 2019 was administered by the Ministry of Finance, after which the Integrity Commission took over its administration," noting that "during this period, we gained the confidence of the citizen to report on Iraqi money abroad by giving privileges to the informant

He added, "Most of the collaborators are the heirs of those who trespass on public money as a result of the privileges granted by the state and their inability to complete the official papers," noting that "one of the collaborators, who is one of the servants of the former regime, revealed details of money totaling two billion dollars that will be recovered, as well as telling details about a lot of money, whether inside or outside the country

He explained, "Part of the countries deliberately refrain from not cooperating to recover Iraq's money, and we need the higher authorities to conclude agreements for the extradition of Iraqis and convicts

Al-Saadi called "the higher authorities authorized to negotiate and contract with countries in order to recover funds abroad because most countries are not cooperating with Iraq to return its money

LINK

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Samson:  Is the dissolution of the Iraqi parliament the only way out of the crisis?

15th August, 2022

The dissolution of the Iraqi parliament has become the only way for Iraq to get out of its stifling crisis, which has begun to turn into a major political conflict that threatens armed confrontations between the two parties to the conflict, the "Sadr movement" and the "coordinating framework" that have armed factions and large numbers of fighters.

These fears seem to have leaked to most Kurdish leaders, most notably the head of the Kurdistan Democratic Party, Massoud Barzani, who called for dialogue to resolve the current political crisis, alluding to the approval of early parliamentary elections after the Iraqi political forces agreed on how to organize them and ensure their integrity.

There is no alternative

Barzani's position was the closest to prominent Sunni leaders, such as Iraqi Parliament Speaker Muhammad al-Halbousi, who stressed the organization of early elections, but according to the constitution and the law in a way that guarantees a political consensus to hold them without major objections. 

Sarwa Abdel Wahed, head of the "New Generation" bloc, the most prominent opposition bloc in the Kurdistan region, also called for "a meeting in Baghdad that includes the heads of all the parliamentary blocs that won the elections and in the presence of the United Nations, to take the necessary steps to dissolve parliament and set a road map for the pre-election phase and its preparations." 

Constitutional Path

Although there is support within the "coordinating framework" itself for holding early elections, some of its parties have a different viewpoint from al-Sadr's, which includes the necessity of holding a parliament session, choosing a president and a prime minister, and then setting a date for new elections after forming the government, which they called The designation of the "constitutional path". 

The leader of the "State of Law" coalition, Nuri al-Maliki, said that "the coordination framework demonstrations sent a message to all political components represented in respecting the constitutional and legal track in Iraq before taking any steps regarding the current parliament," while noting that "it is not possible for the street to be taken over by one party without the other." 

The only solution

Ghazi Faisal, director of the Iraq Center for Strategic Studies, said that "dissolving parliament is the only solution in the current period to form a new political map," while referring to "the authority of the Federal Court to dissolve parliament because the formation of the government exceeded the constitutional terms." 

Faisal said, "It is certain that the dissolution of Parliament has become the only solution for the current period, which represents a political crisis, a constitutional vacuum, conflicts and sharp contradictions between the parties to the political process, especially the coordination framework and the Sadrist movement, as well as the contradictions and challenges facing the return of consensus between the coordination framework and the Kurdistan Democratic Party and the deep differences over Article 140, the oil and gas law, the issue of zeroing crises, disbanding militias, balance and consensus, which were put forward as a basis for forming the government by Massoud Barzani.

Deep crisis

Faisal considered that "today's deep crisis will not lead to any breakthrough unless Parliament is dissolved and the political map reconfigured so that the next majority that can appear in the elections will be able to participate in the elections provided that the majority of boycotters participate in the previous elections if the United Nations guarantees its integrity." 

Faisal continued, "The available frameworks for dissolving Parliament are represented by its failure 10 months ago to elect the president of the republic and assign a prime minister, which was deliberate by the coordination framework," noting that "this failure came despite the ability of the Sadrist movement, the Sovereignty Alliance and the Kurdistan Democratic Party to provide 208 Out of a total of 220 votes, this is the constitutional number for the session. 

Faisal stressed that "the re-election represents the only solution to restore an equal and integrated political map and to form a majority representing an Iraqi government that elects a president and a democratic opposition minority that plays an important role in the legislative authority." 

Al-Sadr will not give up

The head of the "Colwadha" polling center, Basil Hussein, rules out that the leader of the Sadrist movement, Muqtada al-Sadr, would make concessions to the coordination framework to resolve the crisis, as he was going towards escalation, referring to it as "a battle of breaking wills, in which al-Sadr does not want to appear to the public broken." 

Hussein said that "there are two ways to dissolve Parliament. The first is the direct one defined by Article 64 of the Constitution, which stipulates that the House of Representatives dissolve itself by an absolute majority of its members at the request of one-third of the members' representatives, or a request from the Prime Minister or with the approval of the President of the Republic."

The decision rests with the Federal Court

Hussein explained that "the indirect way is for the Federal Court to dissolve Parliament through a lawsuit filed by relying on the general theory of constitutional interpretation, for example, to issue a fatwa for the perjury stipulated in Article 50 of the Constitution, or to issue a fatwa that the House of Representatives no longer enjoys constitutional legitimacy due to exceeding the constitutional deadlines,” he said, noting that “the Court had previously issued a ruling that the House of Representatives must elect the President of the Republic within a short period.”

Crossing gate

Hussein considered that "the re-election is the gateway to overcoming the current crisis and a basic condition for resolving it, because the current parliament no longer embodies the representation that resulted from the election results due to the withdrawal of the first winning bloc, the Sadrist bloc," noting that "the elections are held without constitutional reforms through the umbrella of constitutional justice." It will only mean a deportation of the crisis without a solution."

Hussein explained that "the Federal Court should make constitutional amendments in relation to Article 76 by assigning the first winner in the elections to form the government, thus we will get rid of the burden of the largest bloc or the most numerous parliamentary bloc, which is an obstacle to forming a government," noting that "the second amendment is related to Article 70." It is represented in the court ruling that the quorum for the second round of voting is the absolute majority of the number of members of the House of Representatives, thus ending the issue of the two-thirds quorum.” 

Hussein referred to the third amendment related to Article 72 (Second B), which is that the 30-day period for electing the President of the Republic should be a constitutional and not an organizational period, in order to force the parties to proceed with forming the government and to abide by the constitutional timings, stressing that “the lack of reforms means that early elections are of no use.” to her".

 Legal researcher Ali Al-Tamimi also considered that " The Federal Court can dissolve Parliament for not performing its constitutional role within the deadlines set for it.”

Al-Tamimi said that the Federal Court can dissolve Parliament in accordance with Articles 47 and 59 of the Civil Code related to the failure of this institution (Parliament) to perform its constitutional role and exceed the constitutional deadlines, noting that “ Article 64 of the constitution does not provide for this.

We return to the general principles contained in the Civil Code, which affirm that when the institution fails to perform its role, the judiciary takes over dissolving it. Al-Tamimi said that "the large number of cases that are being filed before the Federal Court is the best way to obtain a decision to dissolve parliament, which is a popular demand."   LINK

Samson:  The head of the Integrity Commission calls for a media bloc to fight corruption

15th August, 2022

The head of the Integrity Commission, Jawad Alaa Al-Saadi, called on Monday, August 15, 2022, for the formation of a national anti-corruption bloc that strongly pushes pressure on the corrupt and supports the national oversight bodies in their noble mission in the fight against corruption and curbing the corrupt, suggesting that this bloc be from the media, which represents the fourth authority, and community organizations and events.

During his speech at the press conference held by the authority, Al-Saadi praised the disclosure of the details of the investigative, legal, preventive and educational work accomplished by its departments, directorates and investigative offices throughout Iraq, except for the Kurdistan region. and its general managers, “with the efforts of the bodies supporting the work of the authority and describing them as real partners who contributed to the achievements made by the authority, especially the judiciary and the Board of Financial Control,” noting that “the authority aspires for the legislative and executive authorities to take some important decisions that contribute to the development of the oversight work and bypassing the obvious defect left by the abolition of the system of public inspectors.”

Al-Saadi expressed his "regret for the cases of bribery, extortion and bargaining that the citizen is subjected to during his review of state institutions," while urging "citizens to cooperate with the authority by taking the initiative to report these cases; In order for the commission’s teams to be able to apprehend those accused of the red flag, he demanded that “the applications of digital systems and e-government replace routine procedures and prevent the citizen from interacting with the employee; This will contribute to reducing cases of bribery, extortion and bargaining.”

In his review of the most important achievements of the authority during the first half of this year, the head of the authority stated that “the public funds that were recovered and for which judicial rulings were issued to return them, which prevented and stopped their waste, and which were actually returned to the account of the public treasury through preventive measures, totaled 380,06,773, total (106,773) trillion dinars.

Al-Saadi added that "the commission considered (34,209) communications, reports and criminal cases with the reporter from him, explaining that the number of reports was (8,877), while the number of reports reached (10,535) news, while the criminal cases amounted to (14,797), the number of them were judged. 7,739 defendants were charged with 9,557 charges, pointing out that among the defendants in criminal cases were 39 ministers and those of his rank, and 241 people with special degrees, general managers and those of their rank.

He pointed out that “the number of defendants referred to the trial court - misdemeanors and felonies during the first half of the current year amounted to (1754), while the commission’s investigations led to the issuance of (731) arrest warrants, of which (396) were executed, including ( 8) Ministers and those of their rank, and (53) of those with special degrees, general managers and those of their rank, indicating that the number of judicial recruitment orders issued based on the commission’s investigations amounted to (3,871) orders, of which (2,824) were executed, noting that orders were issued against (32) ) Minister and those of his rank, as well as (147) of those with higher ranks, general managers and those of their rank.

He reviewed the number of defendants covered by the general amnesty law, noting that "the number of convicts and defendants during the first half of this year reached (746), while the amount of money paid under it amounted to (522,392,537) million dinars."

Al-Saadi referred to the seizure operations and the seized funds carried out by the authority during the first half of this year, explaining that "the number of operations carried out by the authority reached (452), in which 378 suspects were seized and nearly half a billion dinars." He explained that “the commission worked during the same period on (58) files related to fugitives wanted in corruption cases, of which (23) files were prepared, including (11) files against people with special degrees, general managers and those of their rank, while at the same time it worked on (104) Files to recover the smuggled money, 166 judicial decisions were issued against them.

He pointed out that “the authority received (28,340) forms for disclosure of financial disclosure, where the response rate of the presidents of the republic, ministers, the parliament, the judiciary, the two deputy speakers of the parliament, ministers, heads of bodies and entities not associated with a ministry was (100) percent, and the members of the House of Representatives responded to (51) percent. 2%) percent, as only (167) MPs disclosed their financial accounts out of a total of (326) MPs until the middle of the year. He continued, "The authority monitored the integrity and validity of the data presented in the financial accounts statements for (1,500) covered persons distributed among (152) entities, and it was found that the data of (165 of those covered) did not match."

He stressed that “the number of taxpayers whose financial statements were analyzed reached (720), while the number of forms that were analyzed for the purpose of detecting inflation for their owners reached (2982), pointing out that clarification and inquiries were carried out for those covered by submitting forms to disclose their financial liabilities, as their number reached (245) clarifications and inquiries, while (7) files were referred to the Investigation Department; Because there was an increase in funds, while only one court ruling was issued in the matter of one of the taxpayers.”

He pointed out that "the work of audit teams for the codes of conduct and job performance monitoring conducted visits between a number of administrative formations affiliated with ministries and entities not affiliated with a ministry, which numbered (342), noting the efforts of these teams, whose visits resulted in the preparation of (21) various reports, among which were investigative reports diagnosed. Imbalances in the work of some ministries, their strengths and weaknesses, the level of service provided to citizens, and the level of bribery.”

The head of the commission concluded by noting that the commission “prepared (9) drafts of cooperation agreements and memoranda of understanding with Iraqi, Arab and international ministries and governmental institutions, one of which was concluded. (2,897) participants, in addition to issuing (3) magazines and one newspaper, and (4) radio and TV programmes.  LINK

More "News and Views " From KTFA Members Sunday Afternoon 8-14-2022

KTFA:

Samson:  The Governor of the Central Bank of Iraq receives the head of the Iraqi Media Network

14th August, 2022

His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Mukhaif, received today, Sunday, the President of the Iraqi Media Network, Dr. Nabil Jassim.
 
And discussed aspects of cooperation between the Central Bank of Iraq and the Iraqi Media Network  

Central Bank of Iraq
Media Office
14-August 2022

Clare:   WHY? I WOULD IMAGINE BECAUSE THEY ARE GETTING READY FOR THE RELEASE OF A BIG MEDIA CAMPAIGN ABOUT CHANGES COMING FROM THE CBI.... JUST LIKE WS & FRANK TOLD US...IMO

Samson:  Extension”: Dissolving Parliament without forming an interim government means that Al-Kazemi and Barham will remain

2022-08-13 19:55

 A member of the Iraqi parliament for the "Extension" movement considered, on Saturday, dissolving the Iraqi parliament without going to the formation of an interim government and setting a date for early legislative elections in the country, which means keeping the current prime minister, Mustafa Al-Kazemi, and the President of the Republic, Barham Ahmed Salih.

Alaa Al-Rikabi said in a tweet to him on the social networking sites "Twitter", "The parliament is now dissolved without the formation of a temporary rescue government for a year, for example, and it was formed of independent ministers, without setting a date for a new round of parliamentary elections, without changing the election law. What does it mean?"

He explained that "it means only the survival of Al-Kazemi and Dr. Barham, both of whom have expired terms, and the government's survival, but without parliamentary oversight."    LINK  

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Clare:  IS THIS A FORMAL ANNOUNCEMENT ? ...NO IT IS NOT.... PLEASE SEE PAST THE     ARTICLES...PARLIAMENT HAS BEEN PUSHED OUT OF KAZEMI'S GOVERNMENT JUST LIKE FRANK & WS TOLD US... DO YOU SEE THE CHESS GAME GOING ON??? 

KAZEMI, SADR & SALIH HOLD THE CHECKMATE MOVE ... THIS MAN Alaa Al-Rikabi,  HAS ANNOUNCED WHAT IS ABOUT TO HAPPEN AND HOW?.... THROUGH SOCIAL MEDIA DIRECTLY TO THE PEOPLE!

AS WITH IRAQ WE WILL SEE THE BACK AND FORTH IN THE ARTICLES ... BUT FRANK TOLD US TO WATCH FOR THIS ... ON HIS CC'S.

WE WILL SEE KAZEMI MAKE HIS ANNOUNCMENTS VERY SOON...  ALL IMO

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Samson:  Central Bank Governor: Positive indications of an increase in the rate of non-oil revenues

13th August, 2022

The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mikhaif, said, 08/13/2022, that the reserves of central banks are variable and depend on how they are managed, while confirming the existence of positive indicators confirming the continued increase in the growth rates of domestic product and non-oil government revenues.

In a statement followed by the obelisk, he stated that the reserves of central banks change from time to time, and this depends on how these reserves are managed, in addition to the ways in which Iraq was financed at the end of 2020, where the Central Bank initiated cooperation with financial institutions operating in Iraq and the Ministry of Finance.

Among other measures, which bore fruit over time, especially after the improvement of oil revenues to the Ministry of Finance at a time when there was a lack of liquidity in the government, especially in the distribution of salaries, and economic indicators indicated that oil prices would improve and there would be positive indicators in the coming period.

He added that these indicators were within the economic analyzes and were well positive, and included the rise in oil prices and the government's implementation of the white paper seriously, and then searching for an increase in non-oil government revenues, and this we expect to reap its fruits during the next stage.

He pointed out that the Central Bank has undertaken a very large initiative during the last period, as it launched an initiative within a fund that was allocated 18 trillion dinars and distributed in various industrial, agricultural, commercial and investment sectors. This initiative is useless.

He expressed his hope that during the coming period there will be a continuous growth of economic indicators, especially in the reserves, to give indicators for the region and the world that encourage investment projects in Iraq, stressing that all indicators so far point to the continuation of the increase in GDP growth rates for a short period.

He noted that, during the past few years, through the initiative of the Central Bank, the residential complexes provided many job opportunities as well as housing for many citizens, stressing that the initiative will continue to be provided in addition to allocating a fund for this support, and the next stage will be much better.

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The Governor Of The Central Bank Reveals Positive Indicators Of Non-Oil Revenues  LINK

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MilitiaMan:  A very bullish report out from the CBI. Increase in reserves is expected, continuous growth from non oil revenues and the implementation of the white papers. The CBI is telling us the next stage is to be even better. Well with what we see and hear, then there is likely to be a boost coming. CBI told us the 08/15/2022 all banks must be hooked up to the new electronic platform. Why would they need a new platform, if they were going to stick around at a 1460 rate? They wouldn't.. The next stage is going to the private sector. There is a lot  of evidence from the SDR basket changes made 08/01/2022 and the call for the BUNA platform in the second half of the year. the GOI put out all the educational videos over the last week or two.. All for the next stage.. imo..  ~ MM

Samson:  Muqtada al-Sadr sets next Saturday as a date for an "unprecedented" demonstration

14th August, 2022

The leader of the Sadrist movement, Muqtada al-Sadr, set next Saturday evening, a date for the launch of a peaceful demonstration in the capital, Baghdad, "unprecedented" in terms of numbers. 

And his close relative, "Saleh Muhammad al-Iraqi", said in a statement received by Shafak News Agency, "After a lengthy discussion session with him (Muqtada al-Sadr), in which he focused on the upcoming demonstration being peaceful and unprecedented in terms of numbers."

He added, "It was decided to set a date for the demonstration, next Saturday, with the gathering in Tahrir Square first at five o'clock in the afternoon and then marching towards the Celebrations Square."

Earlier, Al-Sadr called on all Iraqis to stage "peaceful, millions" demonstrations in Tahrir Square in the center of the capital, Baghdad, "against corruption, militias and corrupt authoritarian parties."

The political scene in Iraq has been going through a dangerous turn since supporters of the Sadrist movement led by prominent Shiite cleric Muqtada al-Sadr stormed the parliament building in the fortified Green Zone in central Baghdad, and staged a sit-in in protest against Al-Sudani's nomination for the position of head of the next federal government.

While supporters of the Shiite coordination framework came out with a second counter-demonstration, and decided to sit in front of the green walls until the formation of a new government.   LINK

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Al-Sadr's Minister sets the date for the "Million Demonstration"  LINK

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OlLar:  hmmmmmm  "It was decided to set a date for the demonstration, next Saturday, with the gathering in Tahrir Square first at five o'clock in the afternoon and then marching towards the Celebrations Square."

Celebration Square? Why? Celebration perhaps? Heehee IMO

KTFA Members "News and Views" Sunday Morning 8-14-2022

KTFA:

Clare:  Extension”: Dissolving Parliament without forming an interim government means that Al-Kazemi and Barham will remain

2022-08-13 19:55

 A member of the Iraqi parliament for the "Extension" movement considered, on Saturday, dissolving the Iraqi parliament without going to the formation of an interim government and setting a date for early legislative elections in the country, which means keeping the current prime minister, Mustafa Al-Kazemi, and the President of the Republic, Barham Ahmed Salih.

Alaa Al-Rikabi said in a tweet to him on the social networking sites "Twitter", "The parliament is now dissolved without the formation of a temporary rescue government for a year, for example, and it was formed of independent ministers, without setting a date for a new round of parliamentary elections, without changing the election law. What does it mean?"

He explained that "it means only the survival of Al-Kazemi and Dr. Barham, both of whom have expired terms, and the government's survival, but without parliamentary oversight."

 The political scene in Iraq has undergone a dangerous turn since supporters of the Sadrist movement led by prominent Shiite cleric Muqtada al-Sadr stormed the parliament building in the fortified Green Zone in central Baghdad, and staged a sit-in in protest against Al-Sudani's nomination for the position of head of the next federal government.

The Sadrist bloc had obtained the highest votes in the early legislative elections that took place in October of 2021, but the efforts of the leader of the current failed to form the new federal government due to the Shiite coordination framework standing in its way by obtaining a fatwa from the Federal Court with the so-called blocking third in a contract The session for electing the President of the Republic, which paves the way for naming the Prime Minister.

The three-way alliance between the Kurdistan Democratic Party led by Masoud Barzani, the Sovereignty Alliance headed by Khamis al-Khanjar, and the Sadrist movement led by Muqtada al-Sadr was broken following the resignation of the Sadrist bloc's deputies, and the movement's withdrawal from the political process by order of al-Sadr.

The political scene is in a crisis situation and a dead end unprecedented in the history of Iraq, as more than 300 days have passed since the early elections without being able to form a new government in the country, and the caretaker government headed by Mustafa Al-Kazemi remains.

On the tenth of last October, Iraq held early legislative elections to get out of a political crisis that swept the country after large demonstrations in the central and southern regions in 2019 in protest against the widespread unemployment in society, the spread of financial and administrative corruption in government departments and institutions, and the deteriorating reality The service and the livelihood, which prompted the former prime minister, Adel Abdul-Mahdi, to resign under popular pressure.

As soon as the preliminary results of the elections were announced, the voices of political forces and actors rose in their rejection of losing many seats, accusing them of major fraud in the ballot, which was denied by the executive and judicial authorities, at a time when the United Nations and international organizations praised the integrity of the electoral process.  LINK

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Zeeman:  post 16 the extension said considered dissolving. then then lateron it said it was dissolved. so which is it dissolved or not i would like the truth no hype or hopium just the truth thanks  

DCDriver:  I believe when it stated "dissolved" it was using it as an example of how it would go if/when it became dissolved IMO. Hard to say though due to the translation. Like starting a sentence off with " Let's say the Parliament is dissolved" then this ,this , and this would happen. Would be great if it were however IMO.

KandG:  Another ub2b may not be needed IMO according to the final article concerning dissolution that recently posted this evening - assuming I am interpreting it correctly.  Dissolution, Kazemi in power, announcement of new rate - in that order.  Let's pray it in!!  

Suzie:  the 15th is rolling around pretty quickly when the banks should be hooked up internationally/digitally and with contracts signed I would think we'll be aware of a new rate shortly,  go Iraq!!

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Samson:  Within a week, Iraq's oil exports to America halved

14th August, 2022

The US Energy Information Administration announced on Sunday that Iraq's oil exports to America have halved during the past week, reaching an average of 181,000 barrels per day.

The administration said in a report seen by Shafak News Agency, "The average US imports of crude oil during the past week from eight countries amounted to 5.492 million barrels per day, down by 704,000 barrels per day from the previous week, which amounted to 6.196 million barrels per day."

She added that "Iraq's oil exports to America amounted to an average of 181,000 barrels per day last week, lower than the week before, when oil exports to America averaged 369,000 barrels per day."

She pointed out that "most of America's oil revenues during the past week came from Canada, at a rate of 3.351 million barrels per day, followed by Mexico at a rate of 710 thousand barrels per day, and oil revenues from Saudi Arabia at a rate of 412,000 barrels per day, and then Brazil at a rate of 291,000 barrels per day."

According to the administration, "the amount of US imports of crude oil from Ecuador amounted to an average of 212,000 barrels per day, from Colombia at a rate of 174,000 barrels per day, and from Nigeria at a rate of 161,000 barrels per day, while no quantity was imported from Trinidad and Tobago or Russia."    LINK

Samson:  Shiite politician: The deep state exists within every component, and no coup will happen in Iraq

14th August, 2022

The leader of the Supreme Council, Baqir Jabr Solagh Al-Zubaidi, said on Sunday that the "deep state" exists within the single component, ruling out any coup in Iraq.

Al-Zubaidi said in a post on his Facebook account, which was reviewed by Shafak News Agency, entitled "Statement Number One", "The most important person who believes that the coups in Iraq are only an attempt to seize power and the reins of power," explaining that "attempts to control the government began from the moment.

 The first is to form the deep state in Iraq after the Black Baath coup in 1968, so that the deep state achieved its first successes with (Saddam) coming to power in 1979.”

He continued, "After 2003, and with the absence of a real approach to establishing a state or handing over power smoothly after each election cycle, the deep state returned to becoming states that penetrated and exhausted the body of the state, and the deep state was no longer specific to a component (Shiite, Sunni, Kurdish) but rather existed within the component.

The one in different forms and according to the state that finances and controls, and this is what we witnessed with some components that did not succeed in integrating and working together except by an external decision imposed on them, bringing the matter to some to beg for countries to occupy Iraq, which is not surprising. It's every chance he gets."

Al-Zubaidi added, "In response to the claimants, the Iraqi national opposition has never accepted the legitimacy of the occupation, and the most important point for the martyr of the mihrab, whether in the London conference or after 2003, is to hand over power completely to the Iraqis and hold fair elections."

He concluded by saying, "Dreamers today at zero hour and statement number one have missed that the democratic process in Iraq is a legitimate and internationally recognized process and that Iraq's importance as a center of energy will never allow coups or semi-coups," adding, "Our hands are stretched out to everyone in order to build the country and look with an eye." One for all the components of our people and our national principles were and still put Iraq first above all considerations.  LINK

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Samson:  1200 people are preparing to join the team of information investigators in Iraq

13th August, 2022

The Rights Center for Supporting Freedom of Expression intends to launch new training courses in 5 governorates with the aim of adding 1,200 students, journalists, activists and opinion leaders to the field of information checking and combating misinformation on social media within the next two months.

And the Rights Center stated in a statement, received by the Iraqi News Agency (INA), that "through intensive courses for two consecutive days in the governorates of Baghdad, Karbala, Babil, Diyala and Anbar, and over a period of two consecutive months, the Center intends to add these categories to the team of fighters of misinformation and to investigate what is published of data and news." and information on the public space, especially on social networking sites.

The center stated, "During the next two months, through workshops that will be run by graduates of courses in the mentioned governorates, 1,200 people will participate in the Rights Center project to investigate news, follow up on misleading and fake news and expose it through social media."

He added: "The center concluded an intensive training course in Baghdad, which included preparing trainers and training them on digital mechanisms to combat misinformation, attended by participants from all the mentioned governorates, who will take it upon themselves to lead the training courses, each according to his governorate, after they were contracted by the Rights Center to support freedom of expression, the task of each member is to train 120 people from the five mentioned governorates. LINK

MilitiaMan and KTFA Members "News and Views" Saturday PM 8-13-2022

KTFA:

Samson:  Parliamentary Energy reveals proposals to amend the Hydrocarbon Wealth Law

08/13/2022 12:58:27

 The Parliamentary Oil and Energy Committee revealed, today, Saturday, proposals to amend the Hydrocarbon Wealth Law.

Committee member Ali Shaddad Al-Faris told {Euphrates News}, "We had an intention to host the Minister of Oil, with the agreement of the members of the committee, to find out the latest developments in the oil and gas sector, in addition to the fact that oil selling prices are in light of their continuous rise," noting that "the Ministry of Oil wants to move forward." with strategic projects.

Al-Faris stated that "the committee intended to legislate the federal oil and gas law, as well as proposals to amend the hydrocarbon wealth law, in addition to projects proposed by the committees regarding oil coexistence and oil environmental coexistence."  LINK

MilitiaMan:  We would think an amendment would be warranted when there is an anticipated rate change to come.. Ya think?  lol imo ~ MM 

Samson:  The central bank and the banking sector, the main financing and investment ring that supported the economy and protected it from collapse

13th August, 2022 by Samir Al-Nusairi

The Central Bank of Iraq and the banking sector, in accordance with their law and objectives, are a mainstay for building a free national economy that strengthens the foundations of the Iraqi state and pushes it towards the process of growth and economic stability work flexibly to contribute to support Investment is the main nerve of the wheel of development

All studies and reports issued by the World Bank, the International Monetary Fund, the Ministry of Planning and the Central Bank of Iraq confirm this

And in order to build a promising strategy to reform and develop the Iraqi banking sector for the years (2021-2023), the Central Bank established an ambitious mechanism that is consistent with the complex global and local economic crises for the purpose of maintaining the banking system in Iraq and protecting the national economy from collapse

 This requires the various relevant economic sectors to coordinate with and among the Central Bank and activate the role of financial policy, government banks and specialized banks, with an emphasis on developing foreign economic relations with the countries of the world with the development of economic and banking relations with international banks and relevant international and regional financial institutions and organizations  

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MilitiaMan:  It is going to be interesting to see how they go international with a program rate. It will be more interesting to see if they go international with a real effective exchange rate though!!!  They sure seem to talk about being in accordance with international standards. A program rate of 1,460 I am fairly sure is not in compliance with international standards or they would have already done so. ~ MM

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Electronic platform

21st July, 2022

The Central Bank will adopt a specialized electronic platform for the purposes of exchanging

documents and data with all banks .. To view, click here

Translation....

Based on the keenness of this bank to develop banking work in accordance with the best international practices in line with the technical developments taking place in the global banking industry, which will be reflected in raising the level of compliance of the banking sector operating in Iraq with local and international requirements,  this will give him more opportunities to expand external banking activities with correspondent banks and thus attract a larger segment of the commercial operations available in the market. 

As this bank will adopt a specialized platform for the purposes of exchanging documents and data with all banks, which will allow you to benefit from many services, including foreign exchange and shares trading, and access to global financial markets in order to analyze financial data to benefit from them in raising the level of efficiency of decisions related to investment and others, so your banks must participate  On this platform, no later than 15/8/2022 and you can contact the Department of Financial Operations and Debt Management via e-mail (e-platform@cbiraq.info) for the purpose of asking any inquiry or clarification from you regarding the method of subscribing to it.  with respect .   LINK

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Samson:  Al-Tamimi: The Federal Court Can Dissolve Parliament According To These Articles

13th August, 2022

Legal expert Ali Al-Tamimi confirmed, on Saturday, that exceeding the constitutional periods and the failure of constitutional institutions, including Parliament, allows the Federal Court to dissolve Parliament, indicating that the general principles contained in the civil law confirm that the legislative institution, when it fails to perform its role, the judiciary takes over dissolving it.

Al-Tamimi said in a statement to / the information /, that "the Federal Court can dissolve Parliament in accordance with Articles 47 and 59 of the Civil Code related to the failure of its constitutional role and exceeding the constitutional periods."

He added that “the general principles contained in the civil law confirm that when the institution is unable to perform its role, the judiciary takes over dissolving it,” noting that “the Federal Court has a general and mandatory decision-making mandate, in accordance with Articles 92, 93 and 94 of the Iraqi constitution.”

Al-Tamimi expected that “the court will move to dissolve parliament, which has become a popular demand.”   LINK

Clare:  BOOM!!!  THIS IS EXACTLY WHAT FRANK & WS SAID WOULD HAPPEN AND THEY TOLD US MONTHS AGO KAZEMI IS STAYING & THERE IS A PLAN... THANK YOU SAMSON!   

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MilitiaMan:  Article 47

The federal powers shall consist of the legislative, executive, and judicial powers, and
they shall exercise their competencies and tasks on the basis of the principle of

Article 59

First

The Council of Representatives quorum shall be achieved by an absolute majority of its
members.

Second

Decisions in the sessions of the Council of Representatives shall be made by a simple
majority after quorum is achieved, unless otherwise stipulated.

https://www.constituteproject.org/constitution/Iraq_2005.pdf?lang=en
separation of powers

Article 92

First

The Federal Supreme Court is an independent judicial body, financially and
administratively.
Judicial independence
Structure of the courts

Establishment of judicial council
Attorney general
Ordinary court selection
Structure of the courts
constituteproject.org PDF generated:
Iraq 2005 Page 25

Second

The Federal Supreme Court shall be made up of a number of judges, experts in Islamic
jurisprudence, and legal scholars, whose number, the method of their selection, and the
work of the Court shall be determined by a law enacted by a two-thirds majority of the
members of the Council of Representatives.

Article 93

The Federal Supreme Court shall have jurisdiction over the following:
First. Overseeing the constitutionality of laws and regulations in effect.

Second. Interpreting the provisions of the Constitution.

Third. Settling matters that arise from the application of the federal laws, decisions,
regulations, instructions, and procedures issued by the federal authority. The law
shall guarantee the right of direct appeal to the Court to the Council of Ministers,
those concerned individuals, and others.

Fourth. Settling disputes that arise between the federal government and the
governments of the regions and governorates, municipalities, and local
administrations.

Fifth. Settling disputes that arise between the governments of the regions and
governments of the governorates.

Sixth. Settling accusations directed against the President, the Prime Minister and the
Ministers, and this shall be regulated by law.

Seventh. Ratifying the final results of the general elections for membership in the Council
of Representatives.

Eighth. A. Settling competency disputes between the federal judiciary and the
judicial institutions of the regions and governorates that are not organized
in a region.
B. Settling competency disputes between judicial institutions of the regions
or governorates that are not organized in a region.

https://www.constituteproject.org/constitution/Iraq_2005.pdf?lang=en

MilitiaMan:  I have a feeling that Sadr knew how to handle this by invoking all three of them above in bold. Putting this in the hands of the Judiciary may have saved some lives.. imo Not sure I would want to be the judge on this one..  - MM

Samson:  Efforts to establish a "national bank" inclusive of government banks in Kurdistan

13th August, 2022

The Director General of Commercial Banks in the Kurdistan Regional Government, Mouloud Saber, revealed on Saturday, vigorous efforts to establish a "national bank" to replace all other banks in the region, with the exception of private banks.

Saber said, in an interview with the Media Department of Kurdistan Government, seen by Shafak News Agency, that "the bank will announce the restructuring of the 94 state-owned commercial banks at the present time, and will also try to restructure all departments in state-owned banks."

He added that "the traditional banking practices currently followed in banks will turn into a contemporary banking system, along with other banks such as private banks and banks linked to the existing electronic system."

Saber explained, "There are many other purposes behind the establishment of this bank, because it will aim to reorganize state employees as well, and do something that would become a basic base for the Kurdistan Regional Government."

 He pointed out that "one of the tasks of the Council of Ministers is to reform the banking sector, and it is possible as soon as possible to link this bank to the Central Bank of Iraq, and then to foreign banks, to carry out all banking transactions."

He continued, "The bank's capital amounts to 250 billion dinars, including 25 billion in cash in a special account with the Central Bank of Iraq in the region, and 225 billion in real estate for commercial banks. Fortunately, all procedures have been completed."

The Director General of Commercial Banks in Kurdistan noted that "all procedures related to capital have been completed," noting that "the Council of Ministers addressed the Central Bank of Iraq, to ​​take the necessary action to complete the bank."   LINK

Clare:  IMO-Can you say, All The Ducks are in a row

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Samson:  In the presence of the United Nations, the new generation calls for a meeting in Baghdad to dissolve parliament

13th August, 2022

The head of the Kurdish New Generation bloc, Sarwa Abdel Wahed, called for a meeting in Baghdad to include the heads of the parliamentary blocs that won the elections.

Abdul Wahed said in a tweet followed by Alsumaria News, "Why is this stubbornness and the result is that you will go to dissolve Parliament, so what are you waiting for! We in the (new generation) call for a meeting in Baghdad that includes the heads of all parliamentary blocs that won the elections and in the presence of the United Nations, to take the necessary steps to solve the problem." Parliament, and laying out a road map for the pre-election phase and its preparations.   LINK

Some News From Vietnam Posted by Samson 8-12-2022

KTFA:

Samson:  Creating a legal corridor for blockchain development in Việt Nam

8th August, 2022

In the face of the explosive wave of global technology, with increasingly favourable policies and rising interest of businesses, the Vietnamese blockchain market is forecast to continue to develop positively.

The Foreign Affairs Committee of the National Assembly in collaboration with the Việt Nam Blockchain Association held a seminar on international experience in blockchain technology development and recommendations for Việt Nam last week.

The conference aims to learn and enhance experience, standardise solutions for the development and application of blockchain technology, towards perfecting the legal system, and building institutions and policies to create a legal corridor for technology-related activities.

Phan Đức Trung, permanent vice president of Việt Nam Blockchain Association, said: "Blockchain technology is a kind of database, information is stored in blocks and linked together."

Blockchain could be likened to a ledger that records all data in the system. Blockchain differs from conventional data in the data storage structure. Blockchain collects data information and groups them into blocks containing a lot of information. Blockchain is being applied in 65 fields such as banking, securities and funds, insurance, state management, and infrastructure.

In the opening speech of the seminar, deputy chairman of the Foreign Affairs Committee of the National Assembly Nguyễn Mạnh Tiến emphasised that blockchain technology was increasingly attracting the attention of socio-economic and political sectors around the world as this technology had revolutionised traditional commerce due to the ledger feature. "Every record in this ledger is secured by cryptographic rules that keep the information safe and not able to be faked," he added.

The application of blockchain technology created many benefits in increasing the efficiency of work processes, storing data, managing the supply of goods, reducing errors in the document flow and duration, and reducing logistics time, said Tiến. The deputy chairman also noted that the blockchain "big playground" needed direction and guidance.

With the goal that Việt Nam will not be "left behind" in the technological development of many countries, the Document of the 13th Party Congress for the first time emphasised digital transformation and digital economic development, which emphasises the need to "develop the digital economy on the basis of science and technology and innovation".

The document, at the same time, set requirements for growth innovation, economic restructuring, and making good use of opportunities of the Fourth Industrial Revolution, towards the goal "the digital economy will contribute about 20 per cent of GDP by 2025, about 30 per cent of GDP by 2030".

In order to carry out the above task, Tién said that in addition to the efforts of the Government and related agencies and organisations, it was necessary to have companionship and experience sharing from countries in the digitisation process as well as businesses in building and perfecting a system of legal documents related to this field, and monitor for the Government's implementation of the budget and international commitments, resolutions, documents and other legislation of the National Assembly on policies to develop the digital economy. LINK

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Samson:  Việt Nam's economic growth forecast at 7.5 per cent in 2022: World Bank

8th August, 2022

Việt Nam’s GDP growth is forecast to surge from an estimated 2.6 per cent in 2021 to 7.5 per cent in 2022, with resilient manufacturing and a robust rebound in services serving as the driving forces for economic recovery. 

According to the latest economic update by World Bank (WB) for Việt Nam, the country’s economy expanded 5.2 per cent in Q4 of 2021, and respectively 5.1 per cent and 7.7 per cent in Q1 and Q2 of 2022. 

Inflation is projected to average 3.8 per cent over the year. 

Carolyn Turk, WB Country Director for Việt Nam, said that the bi-annual report “lays out a set of policy recommendations that could help mitigate the impact of these risks and make the economy more resilient going forward.”

Titled “Taking Stock: Educate to Grow”, this edition underlines transforming the higher education system as the key to boosting the country’s productivity and achieving its development goals, in the context where the country re-emerges from the pandemic and into a challenging global environment.

The report’s co-author Dorsati Madani said that while Việt Nam’s economic recovery had been relatively stable, not all sectors witnessed the same situation. 

The impact on workers and households during the crisis was serious and lasting, with about 45 per cent claiming lower incomes in December 2021 than the previous year. The impact of the pandemic is still present with businesses reporting broad-based labour shortages as of March 2022, which were felt more acutely in services and manufacturing, and in the HCM City area.

This, in addition to growth slowdown or stagflation in main export markets, further commodity price shocks, continued disruption of global supply chains, or the emergence of new COVID-19 variants, are hindering Việt Nam’s full recovery. 

Statistics revealed that Việt Nam’s population has an average 10.2 years of schooling, second only to Singapore among the Association of Southeast Asian Nations (ASEAN) countries.

Việt Nam’s human capital index is 0.69 out of a maximum of 1, the highest among lower middle-income economies. However, low skills relevance of the university graduates put the country in the bottom third of the 140 countries listed in the 2018 Competitiveness Index on skills relevance of university graduates. 

A World Bank skills and enterprise survey published in 2019 also said that 73 per cent of sampled Vietnamese firms report difficulties in recruiting employees with leadership and managerial skills, 54 per cent with socio-emotional skills, and 68 per cent with job-specific technical skills.

Focusing on tertiary and higher education, the WB’s report recommends reforming the education system to improve quality and access, and thus provide the necessary skills to the population. Reforms to Việt Nam’s higher education system could help support development objectives, the report says. 

The increasing financial costs of pursuing higher education and the perception of diminishing economic returns from pursuing higher education have weakened demand.  While efforts to enhance the business environment are crucial to enabling job creation, policymakers should also take steps to reduce skill-mismatches and improve the quality of Việt Nam’s labour force. 

Turk said: “To sustain economic growth at the desired rate, Việt Nam needs to increase productivity by 2-3 per cent every year. “International experiences have shown that higher worker productivity can be achieved by investing in the education system, as an important part of a basket of investments and reforms. A competitive workforce will generate much-needed efficiency for Việt Nam in the long term.” 

LINK

Vietnam : Stock market to benefit from unexpectedly strong domestic growth: VinaCapital

8th August, 2022

“Việt Nam’s economy is even stronger than we had expected at the beginning of the year, but that strength is not reflected by higher stock prices due to the [US’s] aggressive rate hikes and the recent regulatory crackdown in Việt Nam,” Michael Kokalari, chief economist at VinaCapital, has said in a report. 

“That said, we expect over 20 per cent [company earnings] growth in 2022, which should support a recovery in the VN-Index by the end of 2022.”

July economic statistics have not only reinforced VinaCapital’s forecast of 7.5 per cent GDP growth in 2022 but also make it look like the economy would grow by a stunning 10 per cent year-on-year in the current quarter, he said.  “Our expectation that Việt Nam’s economy will grow by at least 7.5 per cent this year (and by at least 10 per cent in Q3) leads us to believe that the consensus forecast for 16 per cent [company] earnings growth this year in Việt Nam is too conservative. 

“We expect earnings growth to exceed 20 per cent this year, supported by Việt Nam’s solid economic performance – in stark contrast to the US stock market, where earnings growth expectations look unrealistically high, especially given that country’s deteriorating economic outlook.” 

Việt Nam’s retail sales have accelerated all year, illustrating that consumption is currently the main growth driver, he said.  In the first half of the year retail sales adjusted for inflation grew by 7.9 per cent, and surged to 11.9 per cent in the first seven months, far above the 7 per cent growth his company had previously forecast, he said. “This is important because we are often asked now whether the ongoing slowdown in the US economy, Việt Nam’s biggest export market, will weigh on Việt Nam’s economic growth.”

A slowing US economy is likely to temper Việt Nam’s export growth and economic growth, but that would be more than offset by Việt Nam’s strong domestic economy, he said. “The revenues and earnings of companies listed on Việt Nam’s stock market are primarily driven by the domestic economy, which is why we would have expected the stock market to benefit from the unexpectedly strong domestic growth.”

The stock market rose 37 per cent in 2021, driven by a 36 per cent rise in earnings. “All of this makes it somewhat surprising that the VN-Index is currently down 17 per cent year-to-date.”

The main reason for the recent dour sentiment among retail investors is the Government’s regulatory crackdown on illegal practices by certain companies that started at the end of March, he said. “But we believe the Government’s efforts to improve corporate governance and transparency in Việt Nam will ultimately benefit the stock market and the country as a whole.”

The issue has had less impact on the stock market in recent weeks, and Việt Nam already has the highest transparency and political stability ranking in Southeast Asia, according to a report from the Political & Economic Risk Consultancy, he said.

Coming Bounce in the VN-Index

VinaCapital expects another leg down in the US stock market, which could in turn drag Việt Nam’s stock market lower. 

Kokalari said: “However, at some point we expect the Fed to ‘pivot’ away from its aggressive rate hike plans. Việt Nam’s stock market should be one of the biggest beneficiaries of a Fed pivot because Việt Nam has the most attractive valuation in the region, and the second highest expected earnings growth next to Indonesia.

“Furthermore, the quality/visibility of Việt Nam’s corporate earnings is currently much better than that of Indonesia and other regional peers.” He also expects bank share prices to outperform in the second half of the year, as it becomes apparent that banks’ post-COVID asset quality issues are much less severe than many investors had feared, especially in light of Việt Nam’s very high GDP growth in 2022.   LINK

KTFA Members "News and Views" Friday PM 8-12-2022

KTFA:

Samson:  Iraq's budget... a tossing ball and scattered accounts

08/12/2022 12:26:01

A government without a financial budget has become not a strange thing in the Iraqi state in recent years, despite the severe economic and development damage to the country as a result.

The budget specifies the items of state expenditures during a year, especially for salaries, subsidies, and the payment of debt burdens, as well as the target of state revenues.

Despite the government’s success in obtaining about $ 18 billion within the Emergency Security Law for Food Security and Development approved by Parliament on June 8 to secure energy imports, finance important service projects, and fund the Social Welfare Fund, officials confirm the country’s continued need for the draft budget. Earlier, at nearly $90 billion.

Above all, the final accounts of the previous budgets have not been resolved, although they must be submitted after the end of each fiscal year and before the approval of the new budget.
 
In this regard, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, clarifies about the presentation of the final accounts of the current government, indicating that there are two main factors that have contributed to the failure to approve the final accounts on a regular basis 10 years ago. 

 Saleh said on June 30 that "the current government's presentation of the final accounts requires the submission of final accounts extending from the year 2015-2020, taking into account that the year 2020 there is no general budget, which requires the submission of a draft law called the current budget, which is a legal expression of a final account and budget in At the same time, the revenues and expenditures are now realized.

Saleh said that "the oversight task of the House of Representatives in this regard will be a little arduous in following up the completion of the country's final accounts for the years 2013-2021, but it will certainly be fruitful after passing the final account for the fiscal year 2013 and enacting a budget law for the current situation for the year 2014 so that the government can refer the rest of the government accounts sequentially only previous years".
 
And the Federal Supreme Court - its decisions are binding on all authorities - stripped Al-Kazemi’s government of all powers, as it is a caretaker government with limited powers, and it is not entitled to propose important bills with the invalidation of all appointment orders of higher grades issued during the period of the conduct of business.

 In his speech at the cabinet meeting yesterday, Al-Kazemi held the political situation responsible for the delay in the budget, and said: “We are now in the eighth month of 2022, and there is no budget, and the imbalance is not in the government, but because of the existing political situation, so how do we build schools, pave roads and build projects with Absence of political consensus on forming a government or finding a solution to the political impasse.

 He promised, "The issue of the budget is a very serious matter, and we have good financial abundance and we need to invest it in rebuilding infrastructure and achieving the demands of our people."

With regard to the federal budget for the fiscal year 2023, the financial advisor to the Prime Minister, Haitham al-Jubouri, ruled out its approval, saying to Al-Furat on July 25: “It can only be approved by the presence of a new government and not necessarily adopting the same approach as the current government, it may take austerity for the sake of the article; but if the government remains we will proceed with laying down the doors of the law." 

MP Ahmed Hama Rashid agrees with Al-Jubouri regarding the impossibility of approving the budget, saying, “The current government is unable to approve the country’s budget for this year, because it does not have the powers to legislate laws as approved by the Federal Court,” describing Al-Kazemi’s talk about the necessity of approving the budget.

"Scattered ashes in the eyes, nothing more." While the economic expert, Ali Al-Fraiji, considered that the political crisis over the formation of the next government has plunged Iraq into "a new chaos over how to invest the state's revenues and capabilities." Al- Fraiji pointed out that "it is difficult to approve the budget for this year in light of the political turmoil that Iraq is witnessing," noting that Iraq is entering economic chaos today, adding to the negative accumulations of previous years.

State matters, including the salaries of employees and retirees, stated that a member of the Parliamentary Finance Committee, Jamal Cougar, said: “Compensation for the affected economic sectors needs a financial cover, and we have two legal covers to provide the allocated amounts. ”Presenting alternative laws by the government if they are in full force.

He added, "As for the presence of a caretaker government, they should cooperate with each other to present financial laws as a proposed law from Parliament," stressing "the need for coordination between the government and parliament to cover and expand any sector that institutions need."

And the economists' warnings escalated that the country would remain without a financial budget, and not address the effects of that, especially since its approval needs a few more months, in the event that the political crisis in Iraq is overcome.

Here, the expert in economic affairs, Abdul Hassan Al-Shammari, says that "this delay will hit the investment sector, and will contribute to the spread of unemployment among young people, and will even raise poverty indicators to higher levels." Al-Shammari believes that "addressing the effects of this will be difficult, and not as easy as some officials are talking about, so the political blocs should be aware of the danger of the current stage, and avoid taking risks."

Financial budgets represent the main tool for achieving the state's general policies, whether economic, social, or service, and serve as a presentation of the government's annual plans and programs, which it prepares in response to current challenges.

Budgets give governments the best planning to achieve the maximum revenue, and to reorganize their distribution according to spending priorities in order to serve the community. Most importantly, the budget is a tool that reflects the power and symbolism of the state through spending spending on all departments and institutions according to spending plans that are developed in a manner consistent with Citizen priorities, which means economic aspects will be disrupted if they are not approved.

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BlaqueBeauty:  "From trillions to billions"    

Tivon:   If it's 18 billion sitting there. They are waiting for one thing to actualize those funds. They can't even present a general budget until they have the final accounts.

Which means the EFSL will have to come into play given that no funding for departments, projects, or investments can be made available until the CBI reinstate the IQD. Remember I kept saying the surplus in oil, or the gold reserve and hard currency can currently support a rate change.

Now you know from this article it has to be done prior and not after a budget is open.

What solution they have at the moment? Dissolution & Interim Gov. This is How I personally see it. Because it requires a defacto government in the least. Which Al-Kazemi will present as an interim (Emergency GOI) because they can't form a GOI until elections are done anyway.

So you can sense the urgency. Thank you all for the support. IMO

Wagmister:   August 15 is looming.  

Tivon:  Right. All banks by or on that date will be ready to interlink digitally through BUNA Which is why I think the workshop is being done. Post 56. The reinstatement can be made efficiently and instantly. Especially when you read an article last month with Iran ready to go. I'm excited about the 15th and every hour after that day. Al-Sadr knows something as I'm sure Mustafa, Kazemi, and Sadr all know the playbook. What else could he reward them with after dissolution? Imo

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Samson: "Al-Firdaws" demonstrators announce their final statement and stress the need to dissolve the "incompetent" parliament and hold early elections

12th August, 2022

Civilian demonstrators in Al-Firdaws Square in central Baghdad stressed, on Friday, the necessity of dissolving the House of Representatives, which they described as "incapable", and holding early elections on its terms and conditions.

This came in a final statement signed by 10 parties (the Iraqi Communist Party, the Social Democratic Current Party, the Iraqi Nation Party, the National Civil Movement, the Nazl Movement to Take My Right to Democracy, the Faili Front, the Iraqi House Movement, the Democratic Current, the Consultative Council of Tishreen Movements, the National Forces and the Tishreen Democratic Movement).

The statement, which was received by Shafak News Agency, stated, "For more than a decade, the people and their civil and national forces have been emphasizing that this entire system is in dire need of real reforms, but none of the power parties and its politicians responded. The sectarian and racist laws and alignment will lead to the collapse of the country at the general levels and will generate exacerbated conflicts between the political forces, which in turn will negatively affect the life of the citizen. All the dominant forces in power bear the responsibility for what happened.”

He added, "Today, in the face of a deep crisis in the quota system and corruption, represented by the state of political impossibility, we affirm that change has become a national necessity, from which there is no retreat... and that not responding to the people's call for change, the political cost will be exorbitant for those who reject it, and for to achieve change in response to the aspirations of our people for a dignified, independent and prosperous life, and to preserve civil peace, must be based on the principles of peace, democracy and citizenship..and consecrate the unifying national identity, and preserve rights..freedoms..and achieve social justice.

The statement clarified that "the civil and democratic forces, as they continue their peaceful struggle, believe that the will of the people is the decisive factor in the conflict, which we will not engage in except from a national standpoint keen on the future of Iraqis... a struggle for salvation from quotas and its failed forces... a struggle against the killers of the demonstrators..a struggle against the corrupt, regardless of their affiliation..a struggle for the confinement of arms in the hands of the state..a struggle for the state of citizenship, rights, and just law.

The statement continued, "We reiterate once again the necessity of dissolving the impotent Parliament, and holding free and fair elections within one year, on its terms and conditions (a fair electoral law, an independent commission, the application of the parties' law) ... elections that reflect the true representation of the will of Iraqis. Any return to the failed approach to governance.. the Iraqis who have been engulfed in the fire of crises.. have the final say and it is up to them to decide.

Dozens of civil parties and currents demonstrated earlier on Friday, in the center of the capital, Baghdad, to demand the dissolution of the Iraqi parliament. The demonstrators raised banners calling for the dissolution of Parliament and the end of quotas.

This comes in conjunction with demonstrations by the Sadrist movement in the Green Zone and the rest of the Iraqi provinces, as well as demonstrations by the coordination framework at the Green Zone gate from the side of the suspension bridge and the governorates of Basra and Nineveh.  LINK

Some "Friday News" Posted by Samson 8-12-2022

KTFA:

Samson:  Five major Chinese groups announce their withdrawal from the New York Stock Exchange

12th August, 2022

Five Chinese companies, including two of the country's largest oil groups, announced their withdrawal from the New York Stock Exchange on Friday  

Sinopec and PetroChina - one of the world's largest energy groups - said in separate statements that they would apply for a "voluntary withdrawal" from the US stock market

Similar announcements were made by the Chinese aluminum company "Chalco", "China Life" and a branch of Sinopec based in Shanghai  LINK

Samson:  "Buna" Platform For Arab Payments Holds An Interactive Workshop To Share The Main Developments And Practical Experiences In Several Areas Related To The Functions Of The System

11th August, 2022

Shedding light on the main capabilities and priority practical experiences of the banking sector

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

The Buna platform for Arab payments, which is affiliated with the Regional Institution for Arab Payments Clearing and Settlement owned by the Arab Monetary Fund, will hold today, Thursday, August 11, 2022, a “remotely” workshop to shed light on a number of main capabilities and practical experiences related to the functions of the “Buna” system.

Of interest to the banking sector, as the topics of the workshop include presentations on the technical capabilities related to application programming interfaces (APIs), and future plans to extend the working times of the system, in addition to sharing some practical experiences in the field of compliance systems.

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

During the workshop, the technical mechanisms for the work of the application programming interfaces ( APIs ) of the Buna system, and the advantages they provide for participants to take full advantage of the system's multiple functions, will be presented. 

Benna's team will also give a presentation on the platform's plans to gradually extend the operating window times of the system, towards a complete transition to providing services around the clock and during all days of the week, thus enhancing the benefit of the banks participating in the platform. 

In the workshop, a special presentation on compliance will be presented, sharing some practical experiences and important practices with the participating banks from the reality of the work of the payment control systems in the platform, highlighting the importance of the quality of data contained in payment transactions and the advantages of the global messaging standard ISO20022  to achieve effective compliance.

On this occasion, Mr. Mahdi Manea, CEO of the Regional Institution for Arab Payments Clearing and Settlement (Bunyi Platform for Arab Payments) , spoke : “We are working to keep the participants in the Bani platform informed of all practical experiences and developments, as this is in line with the platform’s role in enhancing the status of Banks in the field of cross-border payments. These capabilities will provide them with the ability to maximize the desired value of the platform to support their plans to improve cross-border payments services for their customers.”

Mr. Manea added : “This edition of the Buna interactive monthly workshops will provide the opportunity for participants to learn and exchange practical experiences and concrete plans, whether the participating bank seeks to benefit from the full technical capabilities of the Buna system and achieve maximum efficiency, or to benefit from extending operating windows times. The platform to provide a rich experience to their customers, or receive insights into the practical experiences of compliance systems in the platform to further improve risk management controls.”

It should be noted that the "Bunny" platform constitutes an integrated system specialized in providing clearing and settlement services for payments in Arab and international currencies.

 It aims to enable financial and banking institutions in the Arab region and beyond, including central and commercial banks, to send and receive inter-payments throughout the Arab region and abroad in a safe and reliable manner, at an appropriate cost and with high efficiency. Buna offers participants state-of-the-art payment solutions that comply with international standards and principles and international compliance requirements. "

Buna" contributes to enhancing opportunities for economic and financial integration in the Arab region and supporting investment links with trading partners in various continents. It is noteworthy that participation in the platform is available to all banks and financial institutions that meet the criteria and conditions for participation in it, foremost of which are the standards and procedures for compliance aspects.   LINK

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Samson:  Economist: The Price Of A Barrel Of Oil May Reach 130 Dollars Next Winter

12th August, 2022

The economic expert, Dr. Safwan Qusay, suggested that the price of a barrel of oil would reach 130 dollars during the coming winter, pointing to the possibility of investing the increase in revenues and converting them into internal investments and activating the private sector to absorb unemployment and introduce new revenues to the country.

Qusay told Al-Maalouma, "The price of oil will depend on the amount of releases from strategic storage for China, Japan, America and the European Union, who own strategic reserves, as consumption is scheduled to be at a rate of 60 million barrels per month."

He added that "the mentioned countries and if they raise the percentage of consumption from the strategic storage, it is possible to control the price, and in the end, the prices will remain at their position during the current period, but it may reach in the winter to 130 dollars per barrel."

And he indicated that "Iraq can invest the surplus of oil prices in absorbing unemployment and poverty, developing infrastructure, and resorting to investment to employ the unemployed and activate the private sector to bring in new revenues."   LINK

Samson:  Iraq completes a project to link airports with neighboring countries

12th August, 2022

Today, Friday, the General Company for Air Navigation Services announced the completion and activation of the modern AMHS system for exchanging telegrams between Iraqi airports and airports of neighboring countries, after great efforts.

In a statement received by Mawazine News, the company's general manager, Nizar Ibrahim Al-Ziyadi, said, "In line with the aspirations of the Minister of Transport, Captain Nasser Hussein Al-Shibli, to develop the infrastructure of the aviation communications system, the staff of the Aviation Communications Department, AFTN Division, has completed the activation of the modern AMHS system for the air telegram processing system.

After the efforts of eight consecutive years by the committee supervising the project, "noting that "the completion of the project began in 2014 and in several stages, and today the fruit of the efforts is reaping its completion in cooperation with the Canadian IDS company."

Al-Ziyadi praised the efforts of the members of the Supervision and Follow-up Committee, including engineers in the Communications Department. 

In turn, the Director of the Aviation Communications Department explained that "the system is considered one of the important, necessary and vital projects to link all Iraqi airports with international airports to exchange telegrams with a modern system within the requirements of the International Civil Aviation Organization (ICAO),"

Noting that "the trial operation was conducted for the past three days, and the staff of the AFTN Division began yesterday At ten in the morning, the official activation of the system, and the international aviation organizations were notified of Iraq's adoption of the AMHS system for exchanging telegrams.

For his part, the Director of the AFTN Division confirmed that "Iraq today entered the international encyclopedia in adopting the AMHS project, which is one of the aviation communications systems that work on sending telegrams,"

Noting that "the system deals with all types of civil and military aircraft and sends air telegrams between Iraq's airports and international airports without Any identification and includes information related to the weather, the state of civil and military aviation, air telegrams, and sending many photos in addition to information about flights in the event of delays, advances of their times, or airports stopping for emergency reasons.  LINK

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Samson:  Supporters of the coordination framework demonstrate in Baghdad and Mosul "in defense of the state and its legitimacy"

12th August, 2022

Two demonstrations were launched in the capital, Baghdad, and the city of Mosul, the center of Nineveh Governorate, on Friday, for supporters of the comprehensive coordination framework of Shiite forces, with the exception of the Sadrist movement.

Shafaq News Agency correspondent said that hundreds of Al-Attar supporters gathered in the two-storey square in Al-Jadriya area, heading towards the Green Zone from the side of the suspension bridge gate.

The demonstrators raised banners calling for "the formation of a national service government to combat high prices, unemployment and the lack of electricity." As well as the demonstrators raised slogans "No to chaos and sabotage institutions and reduce the price of the dollar."

In Mosul, a demonstration of supporters of the coordination framework took place in Dora Al-Hamam near the Al-Nabi market area on the left side of the city. The demonstrators told Shafak News Agency's reporter, "The goal of their demonstrations is to protect the state and defend legitimacy."

The demonstrators are from outside the city of Mosul, who come by bus to demonstrate in Mosul, and the majority of them are from the Shabak Nineveh Plain.  LINK

MilitiaMan , Tivon and more "The Convergence is Amazing" 8-11-2022

KTFA:

Samson:  The current and the framework issue new directives to their supporters to mobilize counter-demonstrations

11th August, 2022

Both the Shiite coordination framework and the Sadrist movement opposed to it issued new directives today, Thursday, to their supporters to mobilize for counter-demonstrations in the central and southern regions of Iraq against the background of the aggravation of the political crisis, and its reaching a road in the country.

The "Organizing Committee for Demonstrations to Defend Legitimacy and Preserve State Institutions" of the framework said in a statement today that "the start of the mass demonstrations (the people protect the state) will be at five o'clock in the afternoon tomorrow, Friday, August 12, 2022, on the green walls on the side of the suspension bridge." 

The statement called on "all Iraqis who love their country and their state" to "actively participate in order to demand respect for state institutions, especially the legislative and judicial ones, and to prevent lawlessness, chaos, and disruption of security and community peace, and to peacefully demand the formation of a national service government that alleviates people's suffering from high prices, water scarcity and electricity cuts, and approves a budget.

The state is to provide job opportunities and eliminate unemployment and poverty, and it takes upon itself the responsibility of completing the project of the great port of Faw and the rest of the lagging projects, and it has a real role in supporting farmers and promoting agriculture, and fighting corruption by activating the role of integrity and financial control, and other matters that concern Iraq and the Iraqis. He added, "Our date is the bridge, and the free people will have a patriotic stand that refuses to confiscate the opinion of the people and monopolize it under any pretext. Iraq is for all, the parliament is for all the people, and the judiciary is the pillar of the state."

The statement called on supporters of the framework to "adhere to the instructions of the committee, not to encroach on public and private property, and to cooperate fully with our brothers in the Iraqi security forces."

In turn, the "Minister of the Leader" who is close to the leader of the Sadrist movement Muqtada al-Sadr said in a post on social media, "The reform-lovers should prepare (to support reform) by gathering each in his governorate, and at five o'clock tomorrow, Friday, you will be rewarded with the best reward and stay until further notice."

From this page, not fake pages. He attributed the reasons for the demonstrations, including what he called the anger of the corrupt, "as well as filling out legal forms to be submitted to the judiciary in order to dissolve Parliament."

This is the second counter-demonstrations by the followers of the coordination framework and the Sadrist movement since the Sadrists stormed the Iraqi parliament building in protest against the nomination of the framework, Muhammad Shia Al-Sudani, for the position of Prime Minister.

The political scene in Iraq has been going through a dangerous turn since supporters of the Sadrist movement led by prominent Shiite cleric Muqtada al-Sadr stormed the parliament building in the fortified Green Zone in central Baghdad, and staged a sit-in in protest against Al-Sudani's nomination for the position of head of the next federal government.

The Sadrist bloc had obtained the highest votes in the early legislative elections that took place in October of 2021, but the efforts of the leader of the current failed to form the new federal government due to the Shiite coordination framework standing in its way by obtaining a fatwa from the Federal Court with the so-called blocking third in a contract The session for electing the President of the Republic, which paves the way for naming the Prime Minister.

The three-way alliance between the Kurdistan Democratic Party led by Masoud Barzani, the Sovereignty Alliance headed by Khamis al-Khanjar, and the Sadrist movement led by Muqtada al-Sadr was broken following the resignation of the Sadrist bloc's deputies, and the movement's withdrawal from the political process by order of al-Sadr.

The political scene is living in a crisis situation and a dead end unprecedented in the history of Iraq, as more than 300 days have passed since the early elections without being able to form a new government in the country, and the survival of the caretaker government headed by Mustafa Al-Kazemi.

On the tenth of last October, Iraq held early legislative elections to get out of a political crisis that swept the country after large demonstrations in the central and southern regions in 2019 in protest against the widespread unemployment in society, the spread of financial and administrative corruption in government departments and institutions, and the deteriorating reality The service and the livelihood, which prompted the former prime minister, Adel Abdul-Mahdi, to resign under popular pressure.

As soon as the preliminary results of the elections were announced, the voices of political forces and actors rose in their rejection of losing many seats, accusing them of major fraud in the ballot, which was denied by the executive and judicial authorities, at a time when the United Nations and international organizations praised the integrity of the electoral process.   LINK

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Tivon:  I am sitting back in awe as to how little attention this has gotten from the members here. You guys are sleeping at the wheel. You claim you want this investment to end so badly. Things are moving to slow. To much corruption. And you just drive past this article without even noticing the three powerful men Mustafa,(CBI) Al-Kazemi,(PM) and Al-Sadr,(Religious Clerk)who are taking charge and presenting this to you basically sharing your sentiment about wanting to get this over with as soon as possible.

 These are the people that share your frustration that actually has the power to get reforms done and you still don't see what's in front of you.

You should be jumping up and down that someone wants this over with and is encouraging citizens to mobilize on that notion and be rewarded for their efforts that will result in a win-win for us all. This is why I didn't respond until now to see how many would notice how monumental this one article is above all others posted today. Imo

OlLar:  Right/ Exactly what I was thinking, nobody seems impressed by this

DallasDude:  Well, the way I see it you can officially announce to the citizens tomorrow that the dissolution of parliament is official and Kazemi will have full power to move ahead with reforms and no longer have to worry about the obstructionist with new elections in the future sometime..regaining control over looted monies is also huge..

MilitiaMan: Interesting that there are things that seem to be playing off one another. Demonstrations are set for tomorrow at or after 5:00 pm. They are hoping that they will be peaceful. They have been told that they will be rewarded with the "best reward" and to stay until further notice.

Also there is an important case to be announced by the Integrity Commission for the first time. They will be disclosing the details. Likely to be a big deal with respect to even more looted funds and likely by who is responsible for the theft(s).

Sadr calls for the dissolution of Parliament next week. Next week may be as early as this coming Sunday or sooner. Time will tell.

We do know that they have passed the Emergency Food Security Law. So, will the current executive authority (present government) with having high flexibility to adjust and respond to economic conditions be used for emergency financial surprises?

Could the demonstrations from both sides be timed for to show the details of those found to be corrupt and guilty of looting money and while at the same venues expose the international rate for the citizens purchasing power?

Seems to me the citizens would want to know who stole their wealth and would also like to know that their demands have been met economically, as well. All under the sharp eye of the security.

It is interesting there is an article out from the US Army. Reminds me of the elimination of ISIS. If we recall the close quarters fighting was highly accurate with no collateral damage. Makes one wonder if there will be assets around and the corrupt would likely know the risks. Thus, demonstrations will likely be peaceful. I pray so..

Give them the corrupt and give them purchase power, the outcome will likely be far better than with out those things. imo.. It is going to be an interesting weekend..

All banks must be hooked up to the CBI electronic platform by 08/15/2022. The platform that will be able to transparently track the countries revenues and expenses among many other financial issues. So the likelihood of those refraining from using the platform may not be around long. 

I like what we are seeing and the convergence is amazing.. imo ~ MM

So as long as the country is in an emergency state (which it is for not having been outside the constitution for 10+ months, imo) or even worse a declaration of war, the current government has necessary powers to see to the countries day to day affairs. If they do dissolve parliament, then, the present government in the contextual manner of speaking (caretaker) will be resigned and can still run the day to day affairs. 

The powers that be know full well how they are playing this out and down to the wire.

This weekend may see some very interesting things happen. Let pray they are in line with peace, security and stability to allow the them to give the best rewards to the people and spell them out tomorrow.. We shall see.. ~ MM

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 Integrity reveals the details of an important case that will be announced for the first time

08/10/2022 11:12:54

Tomorrow, Thursday, the Integrity Commission will reveal details of important cases that it will declare for the first time to the media related to the recovery of funds and others of interest to public opinion.

A statement by the commission stated that {Euphrates News} received a copy of it, in which it called on "the honorable correspondents, delegates and representatives of the media to hold the Federal Integrity Commission's semi-annual conference for the year 2022, tomorrow, Thursday, at ten o'clock, at Al-Khild Hall."

The statement added, "In it, the entire achievements of the departments of the investigative, preventive and awareness-raising committee will be announced for the past six months of this year," noting that "the conference activities will also witness the disclosure of details of important issues that are announced for the first time to the media, related to the recovery of funds and others of interest to public opinion." INK
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Al-Sadr calls on the judiciary to dissolve parliament next week: the constitutional deadlines have expired  LINK

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LINK

Al-Kazemi's advisor talks about the possibility of approving budgets for more than one fiscal year
10th August, 2022

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained, on Wednesday, the possibility of approving budgets for more than one fiscal year

Saleh said, to the official news agency, that "the amended Financial Management Law No. 6 of 2019 refers to the approval of the general budget on an annual basis, as the draft law sent by the executive authority is presented in the House of Representatives to legislate the law called the Federal General Budget Law," noting that "The global applications of the general budget are mostly annual

He explained, "Iraq adopts a strategy for the general budget that extends for the next three years and is in line with the indicators of the country's economic development plan, but it is subject to amendment annually

He pointed out that "a proposal that the general budget for more than one fiscal year requires amending the effective financial management law, abandoning the annual budget and replacing patterns of budgets that are approved for a number of years," noting that "this type of budgets will grant the financial authorities in particular and the executive authority in general." High flexibility in adjustment and response to developments, economic conditions and emergency financial surprises when legislating a general budget that extends for more than one fiscal year

He added, "The proposal has not been implemented in the world's financial experiences, so it is necessary to study the issue with one of the multilateral international financial organizations, of which Iraq is a member, in order to study the idea in accordance with the approved
systems in public finance and its global applications and to assess the legal effects." and accounting related 

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LINK

Integrity prevents the waste of two trillion dinars and confirms: Most institutions refrain from implementing electronic work

Today, Thursday, the Integrity Commission announced the recovery and prevention of waste of nearly two trillion dinars, while noting that most institutions refrain from implementing electronic work

The head of the commission, Alaa Al-Saadi, said in a press conference held at the commission's headquarters during the media of its semi-annual report, "We look to the House of Representatives, with what it possesses from the supervisory side and the executive authority, to make Iraq an environment that expels corruption," noting that "the commission in its work depends on professionalism and submits its report and does not hesitate to mention names whenever they are authorized

He added that "many institutions trade bribery and obstruct transactions, and began to lose the confidence of the citizen," noting that "most government institutions deliberately refrain from implementing electronic work and lay arguments against the application of these systems

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The US Army is preparing to use the first "bullet made of light"  LINK

Tivon, MilitiaMan and KTFA Members Thursday Afternoon 8-11-2022

KTFA:

Samson:  The Central Bank: The cash reserve rose to 82 billion dollars

11th August, 2022

On Thursday, the Central Bank of Iraq revealed that cash reserves had risen to $82 billion, as well as an increase in its gold balance to record levels

The official spokesman for the Central Bank, Omar Asim, said in a statement reported by the official "Al-Sabah" newspaper, that the bank's reserves currently amount to 82 billion dollars

Assem added, "Iraq also advanced 10 ranks in the table of countries with the most gold, becoming the thirtieth in the world and fourth in the Arab world, as its total possessions exceeded 130 tons, after purchasing an additional 34 tons, and this came within the bank's policy to achieve stability and ability to confront Local and international economic variables

Gold is one of the most important assets held by central banks and international financial institutions, due to its acceptance at the level of international dealings   LINK

Jerry1971:  Bravo Iraq is a very rich country indeed thanks to the brilliant leadership and sincerity of Pm Kazemi to his country and people tremendous prospects for the iqd to be released in short order. IMO.   

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Samson:  About 300 Iraqi officials and ministers accused of corruption and integrity cases recover two trillion dinars

11th August, 2022

The Federal Integrity Commission announced, on Thursday, that 39 ministers and those of his rank and (241) of those with special grades, general managers and those of their rank, are among the accused in criminal cases.

She explained, during a press conference, that during the first half of this year, she considered (34,209) communications, reports and criminal cases, distributed among (8,877) communications, (10,535) reports, and (14,797) criminal cases.

It noted the recovery and prevention of wasting (1,773,380,063,273) dinars of public funds to the account of the public treasury through its deterrent and preventive measures.

The authority indicated that these amounts represent what has been actually recovered to the account of the public treasury, or those that have been revealed, or the funds that have been issued court rulings to return them, which prevented and stopped their waste.

Integrity also said that its investigations led to the issuance of (731) arrest warrants by the judicial authorities, of which (396) were executed, including (8) ministers and those of his rank, and (53) of those with special degrees, general managers and those of their rank.

Integrity revealed that, during the first six months of this year, it worked on (58) files related to fugitives wanted in corruption cases, of which (23) files were processed, including (11) files against people with special degrees, general managers and those of their rank, in addition to (104 ) Files to recover the smuggled money, in which (166) judicial decisions were issued.

She indicated that she had prepared, during the same period (9) drafts of cooperation agreements and memoranda of understanding with Iraqi, Arab and international ministries and governmental institutions, one of which was concluded.  LINK

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Sir:  IMO-Excellent news people!

All though they have many more files that will be addressed, we can see clearly they are in warp speed to get the corrupt out of the way. There have been many articles about the corruption in all areas and we can clearly see that this is a major part of the plan in order to publicly see the rate change.

I know some of you might think that this has nothing to do with the rate changing, but I beg to differ on that! Think about just how much corruption is out there, do you really think that Kazemi and his team want these rats to prosper anymore than they have been for decades, ( Absolutely not )!

That’s why the delay in changing the rate, while the other projects are put into place they are also showing the people just who’s who. Now we can see that the people are now in the streets and demanding that the corrupt be removed.

There was an article posted yesterday speaking of a 3 year budget, well what if this has been in place all along sense December 2020 when the White Papers came out. What if the budget was for 2021-2023 and a second set of books was in play! This would keep the rats hands away from a lot of new revenue due to the RI and would also explain why so many projects have been completed and still more in the works.

 Kazemi is a smart man and he has a lot of help around the world from highly intelligent people who are getting things put into place to take down a corrupt system that has been ruling us for far too long. When the time is right you will get what you are seeking, but it’s going to be World wide and not just Iraq.

We are in a good place and we are closer than you can imagine, but there’s more to be done. Soon we will wake up to a new world free of corruption and evil doers.

Prayers for those who are making this happen and double prayers for those who gave it all. 
Keep your vibrations high, it helps!  “All in my opinion of course”

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Tivon:  Someone has been paying attention. Great job. Brilliant. This is why I asked a  month or so ago for people to post more often and establish themselves so we can value more of what is put out with more detail than just half hearted complaints that help no one. And you took up that request and flew with it. Thank you Sir. This is well thought out.

These are the post I like to read because it builds on what has been firmly established over the past few months with another viewpoint I concur with that plays into the overall coverage as to why certain things were in place to ensure that the citizens do not get usurped by corrupt political figures who are looking to take advantage of the new monetary system that benefits the country and not the one who pretended to protect the citizens while at the same time stealing from them and their future.

Look at how much has been recovered already. You did a marvelous run down on the reasoning of things that I have been trying to get across for months. And you summarized it beautifully. Wow. Imo

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MilitiaMan:  Well done Sir.. Agreed.. Sadr brought more than meets the eye(s) to meetings. He wants no one with corruption on their hands to benefit from the re - instatement or re - valuation. Nor does Kahdimi. The digital transformation is going to see to that the money is being tracked and will be into the future with a high level of accuracy. The reason there were many that refused to use electronic means is exactly that, the corrupt would not want to use it. IT would expose them, well not using it exposed them as well.. imo... SMH ... lol ~ MM

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BlaqueBeauty:  Imo ….very nice   In turn, the "Minister of the Leader" who is close to the leader of the Sadrist movement Muqtada al-Sadr said in a post on social media, "The reform-lovers should prepare (to support reform) by gathering each in his governorate, and at five o'clock tomorrow, Friday, you will be rewarded with the best reward and stay until further notice." From this page, not fake pages. He attributed the reasons for the demonstrations, including what he called the anger of the corrupt, "as well as filling out legal forms to be submitted to the judiciary in order to dissolve Parliament."

Tivon:  Look at how this is unfolding. What a time to be alive. People are just not getting how close we are.

Samson:  Al-Kazemi complains that the caretaker government will remain for 9 months and calls for solving the budget issue

11th August, 2022

Prime Minister Mustafa Al-Kazemi complained, on Wednesday, that the caretaker government that he heads has remained for 9 months without being able to form a new one during this period of time that followed the early legislative elections in the country, warning at the same time that Iraq will remain without a financial budget for the year 2022, which is nearing completion.

This came in a speech to him during the opening of the cabinet session that was held today, according to a statement issued by Al-Kazemi's office.

Al-Kazemi said in the speech, "Iraq is facing a real political problem in the post-election stage, and it needs a solution, and the solution requires dialogue, wisdom, and sacrifice, as Imam Hussein (peace be upon him) sacrificed for justice, values, and religion, as well as what is required of Political leaders make sacrifices for the sake of the homeland, and for the sake of our children."

He added, "The challenges we are facing are reflected in the performance of the government and all Iraqi state institutions. This government spent 28 months, and it is unfortunate that during this period there was only a budget for 6 months, so how can the state function in the absence of a budget?"

Al-Kazemi also said, "We are going through a difficult period, and with all this we have worked to overcome many problems. There were lagging or failed projects that had been planned for many years, and we worked to revive them and turn them into opportunities for success, in rebuilding lagging hospitals and other projects related to electricity oil, gas, and alternative energy, but without a budget, people's lives will be disrupted."

He added, "We are now in the eighth month of 2022, and there is no budget, and the imbalance is not in the government, but because of the existing political situation, so how do we build schools, pave roads and build projects with the absence of political consensus on forming the government or finding a solution to the political blockage."

The Prime Minister warned that “the issue of the budget is a very serious matter,” adding that “we have a good financial abundance and we need to invest it in rebuilding infrastructure and achieving the demands of our honorable people. Good schools, reasonable roads, and effective government institutions. He pointed out that "the political dispute has begun to reflect on the service reality in the state, and therefore we must look for a solution and I call on everyone to engage in dialogue in all seriousness."

Al-Kazemi stressed that "dialogue is the only solution to solve our problems and we have no other, as for resorting to methods of media escalation, social media, spreading chaos and frustration among people, this will not help in building the modern democratic experience. We are a young democracy, and we need to act according to wisdom." and mind."

The head of the federal government addressed the Iraqis by saying, "They should know that every day a solution to the political impasse is delayed, the government is restricted, and it is in a difficult situation in which it is difficult to carry out its duties."

He explained that "the caretaker government according to the constitution, its work is supposed to be coupled with a short period and not to stay for nine months without a new government, and it is unreasonable for the government to remain tied, and the constitutional deadlines have been exceeded, and we are required to remain a caretaker government; this is not possible."

Al-Kazemi pointed out that "the political blocs must cooperate with the government to find a solution to the issue of the budget, and we are ready to help and play our role as an executive authority in accordance with the law." He stressed that "there must be real political support for the government instead of political differences," noting that "there are parties that always turn the conflict towards the government, and the government has nothing to do with it, as we are not a party to the political conflict."

Al-Kazemi said, "We went through an ordeal during the past two or three weeks, and, thank God, the crisis was dealt calmly, and we succeeded in not having Iraqi blood flowing on Iraqi soil, and we will continue with this approach." He also warned that, "Those who think that this government is working to strain the atmosphere are mistaken.

We have said since the first day: We are ready to hand over power to any elected government, and at the moment the political blocs agree, we are ready. What is the talk about the government or the Prime Minister working? For obstructing the formation of the government or the solution is nothing but nonsense; who is the one who accepts to stay in these difficult circumstances?”

Al-Kazemi continued by saying that "the story is not a position story, but a success story, either we are successful and accept the challenge, or the political blocs must accept their role to find a solution to the blockage, in order to move towards a bright Iraq with an opportunity for hope, and we must be optimistic, and not a solution is through dialogue.

The Prime Minister concluded his speech by saying that "we presented an initiative and it was approved by most of the political blocs, and we are still working to create an opportunity for dialogue. We must preserve our democratic system, and we must correct if there are wrong paths or there are paragraphs in the constitution, correction or change." There must be consensus on it from all the Iraqi people."

LINK

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Tivon: I see what Al-Kazemi is doing. If we are going with what he is saying along with Mazhar Muhammad Saleh if they form a general government and budget it will be off the heels of dissolution thus the corruption would have been dealt with in Parliament and HOR. Because everyone knows it will not be the CF(Coordination Framework) .

So we should feel very comfortable. Why? They (Federal Integrity Commission) already identified 300 corrupt officials. And the funds they stole. (Post 20) Not t9 mention they also seized and recovered properties belonging to the Municipality which involved another billion Dinars in value. As I have stated before the EFSL was designed to clean out corruption. 

Because I always said the funds left over from the EFSL can be thrown in with any budget they happen to come up with. Ask yourself why would Al-Kazemi push for a budget at the end of the year?

Jamal Cougar stated it takes about a couple of months to get through the process of creating a budget. But we know the citizens were already promised they would see the changes they want very soon before August is done with.

Al-Kazemi will use that time to bring forth reforms as a interim emergency government. And he will solidify his reputation, legacy, and authority. Al-Kazemi knows he only needs the oil surplus to achieve or meet the Citizens Entitlements which is tied to the HCL/Oil & Gas Law.

Everything else can be dealt with accordingly. Keep in mind they have gold, oil, and hard currency reserves to support the rate if they was to release one before they form a GOI or present a budget. Please remember that. 

Also Keep in mind the post from yesterday (Post 114) as to what the new budget will come with if they happen to pass one. Because I think they already studied it and came to an agreement as to the components in it.

Especially the emergency surprise funds added as a bonus. So even if they form a government and pass a budget it wouldn't matter because Al-Kazemi only has to announce or present his transitional interim gov and can release the new rate afterwards.

So he isn't saying he needs the budget to finish what he is already doing. It will be needed once he no longer needs to use the EFSL.

Remember they were only going to put 51 trillion in the 2022 budget given how little time was left in 2022. And since the transitional gov is temporary I am positive funds from that will be transferred over to a general budget. The EFSL was always going to be temporary. So this article is of no surprise. Imo

Tivon and KTFA Members "100% Excited About the 15th" 8-10-2022

KTFA:

Clare: Government official: Iraq is not thinking of floating the currency at the moment

10th August, 2022

A government official confirmed, on Wednesday, that Iraq is not considering floating the currency currently, indicating that the flotation at the present time will threaten the collapse of the country's economy.

The official said in an interview with Shafaq News Agency, "The rentier nature of the Iraqi economy makes it difficult to float the Iraqi currency, and therefore Iraq is not currently thinking of floating it."

The official, who asked not to be named, added, "Access to hard currency in Iraq comes mostly from our oil exports, which is in the hands of the government, and that the local market is circulating for it and does not bring this currency, and therefore its flotation will threaten the Iraqi economy with collapse because it will increase demand for it in exchange for limited supply."

He also indicated that “floating the currency without diversifying the economy will have negative repercussions on the purchasing power of the Iraqi consumer, especially the middle and poor groups,” adding that, “the float is on the table with the government in the long run because of its importance in stimulating the production process in the country.”

It is noteworthy that some officials talk from time to time on the necessity of floating the currency and liberalizing it to preserve the hard currency reserves with the Central Bank.  

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Tivon:  Say what? The government is not thinking of floating the currency in light of every conceivable reason to do exactly that for the same reasons they said it's not feasible? You don't say. Do you see how they undermine the Iraqis when they were already told by the CBI and their news media to expect their currency to float soon?

Do you guys know what a rentier economy is? A rentier economy depends on government policy, it is particularly susceptible to plutocracies, oligarchies, "crony-capitalism," and other forms of corruption, leading to public mistrust in big business, government, and the social/economic elite.

Guys, he's referring to a old regime that has already forfeited over their power to the demands of the citizens where they are no longer at the mercy of a small select proxy who create economic conditions by divesting, siphoning, pillaging, and plundering communities into the ground because of their greed.

Keep in mind Al-Kazemi didn't announce his cabinet yet. Also keep in mind that he can do the reverse by brining purchasing power first or do both as an interim gov.

These were the same people trying to use the USD rate as a political tool to gain the trust of the citizens to make them think voting in the Coordination Framework would be of their best intrest simply by what the reduction represents. Which is "Purchasing Power". Something we know Al-Maliki did not want as it goes against the reason he wants power in the first place which is contingent upon the Iraqis remaining poor.

 Another excuse he brought in this article is the hard currency reserves and its so called limited supply. Remember, the operandi of the government is to convince you of scarcity. I am not even going to mention the gold reserves. To easy.

Let's just go back on what Mazhar Muhammad Saleh stated when they mentioned that the hard currency reserves are nearly covered. Which protects against inflation and market fluctuations. Hell, he didn't even mention the EFSL. Which was specifically designed to address all the areas of concern.

All provision of the EFSL was initiated on July 17th. Which is aimed at reducing poverty. Creating financial stability. Achieve food security. Along with social protection.

One example to sum up everything is to look at Post-57. A protest was diverted in an area where electrical issues were of concern for the people in the Kanaan district. What did one man do that the "The Government" couldn't provide that prevented demonstrations for basic needs? He addressed a economic issue outside of government intervention without waiting or hesitating to issue  direct assistance by going directly to that specific community that the local government neglected.

Not only that they also addressed the water problem in that same district through security forces. They said the dangers and threats of displacement due to droughts have disappeared. He didn't come up with an excuse by referring to limited resources and the lack of funding. 

Do you see why it's important to focus on the men in the field? The ones with boots on the ground. The ones who are directly interfacing with the people. That is what this entire investment has morphed into ever since Al-Kazemi took up the mantel to address the pervasive issues facing the citizens of Iraq.

And that's the same attitude Abdul Karim Shammari brought to the local Kanaan district and assisted those people without giving them a thousand reasons as to why it can't be done. Why? Because more than likely they been hearing this type of rhetoric for years.

 I wish I could say more bit I am pressure for time. We are in a season of action. No more talking. You are seeing it as they say it if it needs to be uttered to reassure the people that they will no longer be abused. And that their needs will be met. Imo  LINK

Post 57:  Postponing massive demonstrations near Baquba after a relative improvement in the supply of electricity 

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Clare:  REMEMBER WHAT FRANK SAID ON THE LAST UB2B:

"I BELIEVE THAT IT WILL BE KAZEMI THAT MAKES THE ANNOUNCEMENT TO THE CITIZENS, RIGHT AFTER HE ANNOUNCES HIS GOV’T … I MEAN, FRACTIONAL SECONDS AFTERWARDS"....FRANK26

IN FRANK'S OPINION AND imo

"Right now we are at where we want to be. So let things unfold from here and stay focused on what you know to be true. There is no reason to jump ship and assume the worst for any conceivable outlook that this is about to come to a conclusion. You are watching these men work the system and bring it to it's needs and the feet of the citizens without any push back. This will continue for other things the citizens are anticipating to be presented very soon. Imo" - TIVON

I TOTALLY AGREE WITH YOU TIVON imo

Samson:  Al-Sadr asks the judiciary to dissolve the Iraqi parliament and the President of the Republic to set a date for the elections

10th August, 2022

On Wednesday, the leader of the Sadrist movement, Muqtada al-Sadr, asked the judicial authorities to work on dissolving the Iraqi parliament within a maximum period of next week, urging at the same time the President of the Republic of Iraq, Barham Salih, to set a date for early legislative elections in the country.

Al-Sadr said in a tweet seen by Shafak News Agency, "Someone may say: The dissolution of parliament needs to hold a parliament session to dissolve itself. No, there are blocs that adhere to quotas and persistence in corruption and will not succumb to the people's demand to dissolve parliament, but I say: The parliament's dissolution is not limited. with that.”

He added, "From here, I address my words to the competent judicial authorities, especially the President of the Supreme Judicial Council, hoping that they correct the course, especially after the end of the brief constitutional deadlines and others for Parliament by choosing the President of the Republic and assigning a Prime Minister to form a government of stakes, as well as the national or independent majority and away from the old, grim faces that despair Including the people, and if they are not corrupt, they are either deficient or deficient.

Yes, I direct my words to the Iraqi judiciary, from which we still hope for good despite the political and security pressures it is subjected to and leaks from here and there, provided that it dissolve Parliament after those constitutional violations above.. ...within a period not exceeding the end of next week, and graciously assigning the President of the Republic to set a date for early elections, subject to several conditions that we will announce later.

And he continued, "During this, the revolutionaries will continue their sit-ins and their revolution, may God reward them with the best reward... and they will have another position if the people fail again, and we ask all the revolutionaries, the resigned Sadrist bloc, other deputies, and all lovers of the homeland to submit official lawsuits to the Federal Court and through legal means and through the centralization of the committee." It is clear that the elimination of the stake is at stake, and we hope that it will take into account the interest of the people and not be afraid of pressures, as I am sure that many judges are with the people and with reform.”  LINK

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Tivon:  A man of action. I guess Al-Sadr is turning a new leaf. My older comment from the beginning of the year (Before The EFSL)  didn't hold him in high regard. If any of you remember that. But as you can see he is directly aiding in the resurrection of the phrase "Power To The People".

I can't point out anything I wouldn't do in the current environment. Al-Kazemi has some heavy hitters in his corner. And it will not stop anytime soon. The people know what's going on now. They are privy to the proxies.

What a time to be alive as investors seeing it all come together. We are approaching historical times. I can not wait for the coming days ahead. We all know where this is going. The only thing left to do is the obvious. Citizens Entitlements. This is the bottom line.

 I will wait for the remainder of the week for clearer insight on the matter. Right now we are at where we want to be. So let things unfold from here and stay focused on what you know to be true.

There is no reason to jump ship and assume the worst for any conceivable outlook that this is about to come to a conclusion. You are watching these men work the system and bring it to it's needs and the feet of the citizens without any push back. This will continue for other things the citizens are anticipating to be presented very soon. Imo

Jerry1971:  Sadar is up to the mark in getting this hope less and useless parliament dissolved hopefully by next week thus enabling Kazemi to announce his govt to his people also bringing forth the announcement of the new iqd rate exciting times in Dinarland. IMO. 

Grant123:   One day we will wake up and be blessed! A lot needs to be sorted out in a short time period! Let’s hope they can do it! IMO

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Calandig:  Good day family. I wanted to highlight the importance of the phrase “next week “.  This is strictly in my opinion so I could be totally off but it you notice when the Middle East uses the word “next” when referring to days it’s within the very same week (ex. if they say today next Thursday that means tomorrow).

So, by applying this point of view that phrase “next week “ I believe could mean either tomorrow (Thursday) or Sunday 8/14.

Why do I believe this? I’m glad you asked. On Friday 7/29, the IMF had a press release concerning the SDR basket for 2022-2027(in the FAT). The results of their findings go into effect on 8/15. Again, just my opinion. 

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Tivon:  Even without the drop dead date of August 15th. We know a few things. The first being the dissolution by default will activate Al-Kazemi and his government. Given that he will act as an interim transitional authority. He will officially hold all power to activate reforms at anytime he sees fit. So it doesn't matter if he does it before or after the 15th.

The second thing is that we know all banks will be ready for the new digital platform by that date. Which is another plus for us. We know based off what he already told the citizens along with the guy from Al-Sadr camp that the citizens will have their demands met in days.

So you guys do not have to put pressure on yourselves about the 15th.

Don't forget that even the citizens know they no longer have obstacles in front of them. That says a whole lot. They are waiting for Al-Kazemi. This is who I am focused on. Let this guy bring it home for us. What has he promised up until this point that he has not delivered on besides the reforms itself? We are actually seeing it with our own eyes without any special obscure intel.

We know what's next. We don't need the UN, IMF, AMF, World Bank, CBI. Or US Treasury to tell us that. You should be ready regardless. On the 15th and afterwards. Imo

I am 100% excited about August 15th. Why? Because for the first time in this investment all banks in Iraq will be ready for the new rate. Al-Kazemi could announce on that date or afterwards his interim government.  Then the next day the CBI can reinstate the currency.

I think regardless of the 15th it will go in that order. Or it can all happen at once within hours. Regardless the sequence can happen in a consecutive fashion or a concurrent manner. I am good either way because we know what supposed to happen and there's nothing wrong with that. Imo

Samson:  Al-Kazemi's advisor talks about the possibility of approving budgets for more than one fiscal year

10th August, 2022

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained, on Wednesday, the possibility of approving budgets for more than one fiscal year

Saleh said, to the official news agency, that "the amended Financial Management Law No. 6 of 2019 refers to the approval of the general budget on an annual basis, as the draft law sent by the executive authority is presented in the House of Representatives to legislate the law called the Federal General Budget Law," noting that "The global applications of the general budget are mostly annual

He explained, "Iraq adopts a strategy for the general budget that extends for the next three years and is in line with the indicators of the country's economic development plan, but it is subject to amendment annually

He pointed out that "a proposal that the general budget for more than one fiscal year requires amending the effective financial management law, abandoning the annual budget and replacing patterns of budgets that are approved for a number of years," noting that "this type of budgets will grant the financial authorities in particular and the executive authority in general." High flexibility in adjustment and response to developments, economic conditions and emergency financial surprises when legislating a general budget that extends for more than one fiscal year

He added, "The proposal has not been implemented in the world's financial experiences, so it is necessary to study the issue with one of the multilateral international financial organizations, of which Iraq is a member, in order to study the idea in accordance with the approved systems in public finance and its global applications and to assess the legal effects." and accounting related to the foundations of governance of public budgets of this type  LINK
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Governmental Adviser: Iraq adopts a budget strategy for the next three years  LINK

Tivon:  Wow- That is actually crazy. Are you all seeing this? It is over for the corrupt. Al-Kazemi and his cabinet are pivoting hard. They know the EFSL is already cleaning house. So they want to implement a fail-safe once that law expires into next year and have a general budget in place that will basically be an extension of the EFSL.

 It's subject to amendment annually just in case certain areas financially present unique issues where over/under spending could present problems in the newly emerging markets Iraqis will grow into. They can write a 3 year spending plan and adjust it at the end of or beginning of any fiscal year to maintain a economic flow sense they will no longer be relying on oil to bolster their GDP.

They need to make sure the alternative revenues are keeping pace with growth for longer periods. Plus it keeps the political aspect in check and retains a consistent agenda for the party that builds trust with the citizens where they are not concerned to much with hoping a new budget doesn't stifle growth because it lacked the funding of the previous one.

This is just my personal view as I am sure it's way more layered. But this makes total sense and is very genius. This will basically keep Al-Kazemi in power even if he's not in office anymore beyond his tenure. I mean...emergency financial surprises? IMO