Frank26: "1-1 On Par Leading to a Depeg To A RV Float" 9-27-2022

KTFA:

Frank26:  "THE CBI IS KEEPING PACE WITH THEIR CURRENCY TO KEEP ON PAR AND FLOAT SOON".....F26

Samson:  The Central Bank intends to issue a banknote of 20 thousand dinars

27th September, 2022

The Governor of the Central Bank of Iraq, Mustafa Ghaleb, announced, on Tuesday, the bank’s intention to issue a new denomination of the Iraqi currency, with a value of 20 thousand dinars, while referring to the choice of the Governor of Najaf to open a branch of the Central Bank to cover the Middle Euphrates region

Ghaleb said in a speech within the work of the "Al-Rafidain Forum", and followed by "Al-Iqtisad News", that "the banking sector is directly affected by the political and security challenges in Iraq," adding that "the banking sector has a role in moving the wheel of the economy, and we have worked to develop the banking sector and build Arab and International Relations Network

He added that "there is a previous project submitted by the Central Bank regarding the process of deleting zeros," noting that "this matter needs to legislate a law and this project requires some amendments, and that the pursuit of this law needs to stabilize the situation in the country and the atmosphere must be provided to accept such transactions

He pointed out that "the Central Bank, within the currency chain, is working to complete a new category of 20 thousand dinars based on comparative study and research with neighboring countries and is working to complete the form of the paper

The Governor of the Central Bank indicated, "The governor of Najaf chose to open a branch of the Central Bank to cover the Middle Euphrates region

Regarding the exchange rate, he said, “We took the decision to change the exchange rate in agreement with the IMF and the government,” noting that “the decision to change the dollar exchange rate saved the government approximately 23.5 trillion dinars in addition to government and oil imports. And the central bank governor went on to say, "There is no intention to reduce or change the dollar exchange rate

Frank26:  (THAT IS CORRECT CBI YOU ARE CHANGING THE RATE OF THE IQD NOT THE USD -F26)

Ghaleb continued, "We reduced the interest rate on loans provided to finance projects in the initiatives of the Central Bank, and launched the Letter of Guarantee platform, which is an important step for the banking sector  LINK

Frank26:  "THE MIDDLE EAST DOES NOT USE 25K NOTES... THEREFORE THE CBI BRINGS THEIR CURRENCY ON PAR WITH MIDDLE EASTERN CURRENCIES"....F26

Samson:  The central bank reveals a new denomination of the currency and is working on issuing a digital one

09/27/2022 10:39:46

In his speech during the Al-Rafidain Forum for Dialogue, the Governor of the Bank, Mustafa Ghaleb, said: "We are working on a new currency, a category of 20 thousand dinars, after studies in order to keep pace with the requirements and to match the neighboring countries."

"We will start announcing the new category after completing its requirements," he added. He stressed that "there is no intention to reduce or change the exchange rate of the dollar against the Iraqi dinar."

Ghalib revealed that "the Central Bank is working on issuing digital currency to keep pace with the development of monetary transactions in the region and the world," adding, "but so far, there is no specific orientation, dates and controls for issuing digital currency in the country, and we are working during the coming period on these controls to keep pace with the countries of the region and reduce the practice of dealing." cash by issuing this digital currency.”

Ghaleb pointed out that "deleting zeros from the currency is a previous project submitted by the Central Bank and requires amendments and requires legislation," stressing that "the atmosphere must be provided to accept such transactions." And we have reduced the interest rate on loans provided to finance projects in the initiatives of the Central Bank, and we have worked to implement international standards to combat money laundering.

He explained that "Iraq's exit from the European Union's list of high-risk countries gives support to the movement of the economy and the financial and banking sector."

It is noteworthy that Iraq owns 7 categories of local currency issued by the Central Bank of Iraq are {250 dinars, 500 dinars, 1000 dinars, 5000 dinars, 10,000 dinars, 25000 dinars, and 50,000 dinars).  LINK

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Frank26:  "THE CBI PREPARES ITS CURRENCY TO GO INTERNATIONAL"..........F26

Central Bank of Iraq: We are working on issuing a digital currency and deleting zeros from the dinar requires an atmosphere

27th September, 2022

The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makheef, said on Tuesday that the bank is working on issuing digital currency to keep pace with the development of monetary transactions in the region and the world, stressing that deleting zeros from the local currency requires a calm economic atmosphere for that.

Makheif said during his hosting at the Al-Rafidain Forum for Dialogue, that "until now, there is no specific direction, dates, and controls for issuing digital currency in the country," adding, "but during the coming period we are working on these controls to keep pace with the countries of the region and reduce the practice of dealing with cash through the issuance of this digital currency." ".

And about deleting zeros from the local Iraqi currency, the central bank governor said, "The process of deleting zeros requires the issuance of a law, and a draft law in this area has been prepared by the central bank and submitted to the previous government."

He explained that this law needs amendments, stressing that the issuance of this law requires an atmosphere because the deletion of zeros is directly related to the economy and to market prices in the country.

With regard to the issuance of the Central Bank a new category of local currency, he said, “We are working to issue a new currency, a category of 20 thousand dinars, in order to keep pace with the requirements and to match the neighboring countries,” adding that “we will start announcing the new category after completing its requirements.”

With regard to the exchange rate of the dollar against the Iraqi dinar, the governor of the Central Bank confirmed that "there is no intention to reduce or change the dollar exchange rate."  LINK

Frank26:    "AN ECONOMIST EXPLAINS TO THE CITIZENS WHAT THE CBI EXPLAINED TO THE CITIZENS... 1-1 ON PAR LEADING TO A DEPEG TO A RV FLOAT. THE AUCTIONS ARE OURS SAYS KAZEMI!!!".....F26

An economist explains how to control the currency sale auction

25th September, 2022

The economic expert, Abdul Salam Hassan, explained that the currency sale auction can be controlled through the government's move towards equalizing the value of the dinar with the dollar or making it close to the dinar, pointing to the difficulty of stopping this auction, especially with the presence of dominant parties on the scene. 

Hassan told Al-Maalouma, "The currency auction cannot be stopped, and there is no law preventing its work, as it is supported by the World Bank, despite corruption and the parties' control over it to achieve personal benefits." 

He added that "most countries work with currency auctions or the so-called economic colonialism, and countries take it for financial investment and a window to extract the currency, but the work of this auction in Iraq cannot be legalized or stopped under the pretext of continuing import, and this matter needs more currency." 

And he indicated that "the increase in the amounts of currency sale came as a result of the increase in the exchange rate of the dollar against the dinar, as it achieves greater benefit through the currency sale auction, and the government can control this matter and reduce the amounts sold in the auction by making the value of the dollar close to the dinar and thus the two values ​​are equal or may the difference is very simple."    LINK

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Frank26:  "CBI GOV SHAKES HANDS WITH INTERNATIONAL BANKS... AND NOT FOR A PROGRAM RATE BECAUSE THE PROGRAM RATE IS GONE"......F26 

Governor: The Central Bank has played a major role in revitalizing the Iraqi economy over the past years

26th September, 2022

The Governor of the Central Bank, Mustafa Ghaleb Makheef, confirmed, on Monday, the aspiration of the banking sector in Iraq to increase cooperation with the banking sectors in other countries

And a statement from the Central Bank stated, "The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mekhif, received, on Monday, the Ambassador of the Czech Republic to Iraq, Peter Stepanek

Makheif stressed, according to the statement, "the strengthening of banking and economic relations between the two friendly countries

He stressed that "the Central Bank of Iraq played a major role during the past years in revitalizing the Iraqi economy," noting that "the banking sector in Iraq is looking forward to increasing cooperation with the banking sectors in other countries and    exchanging experiences between them in a way that serves both sides   LINK

Frank26:   (INTERNATIONAL BANKS KNOW THAT A PROGRAM RATE DOES NOT SERVE BOTH SIDES BECAUSE THE PROGRAM RATE IS GONE -F26)

Monday Night KTFA CC "Sit on my Blue Couch Please" 9-26-2022

KTFA

Monday Night KTFA CC

Frank26:  9-26-22……..SIT ON MY BLUE COUCH PLEASE

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

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

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

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

https://www.youtube.com/watch?v=ka9L_BuY26M

Some "Friday News" Posted by Samson at KTFA 9-23-2022

KTFA:

Samson:  Al-Kazemi expects an increase in Iraq's cash reserve, and it will reach $100 billion

23rd September, 2022

The Iraqi Prime Minister, Mustafa Al-Kazemi expected, on Friday, to increase the country's cash reserve to reach $100 billion.

Al-Kazemi said in an interview with the state media before giving a speech at the General Assembly meeting in New York, that "the white paper succeeded in achieving economic reform."

And he added, "The cash reserve under our government has reached 68 billion dollars, and it is expected to increase to 100 billion dollars."

Al-Kazemi stated that Iraq has achieved the largest and fastest economic growth and has become the first in the Middle East and fifth in the world.  LINK

Samson:  Al-Kazemi: Changing the dollar exchange rate against the dinar is the most successful decision

23rd September, 2022

Prime Minister Mustafa Al-Kazemi confirmed that changing the exchange rate of the dollar against the dinar is the most successful decision taken by his government

Al-Kazemi said, in an interview with Al-Monitor, which was followed by "Al-Iqtisad News," "We reached a point where we were unable to pay the salaries of employees and retirees, but thanks to the white paper, the Iraqi economy will witness reforms

He added that my government agreed to implement projects such as the port of Al-Faw, the construction of solar power plants, the investment of gas associated with oil production, and the construction of 1,000 schools

He explained that the Central Bank's reserves rose from 49 billion dollars to 86 billion dollars, and changing the dollar exchange rate was one of the most successful decisions we took   LINK

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Samson:  The Iraqi Stock Exchange seeks to trade government bonds

23rd September, 2022

The Iraq Stock Exchange announced its quest to attract investment and trading in government bonds.

The Executive Director of the market, Taha Ahmed Abdel Salam, said, on the sidelines of the market signing, the custodian license contract, with the aim of facilitating investment in the securities sector.

“This step aims to attract more potential and concerned investors who wish to trade in the Iraqi Stock Exchange, shares of joint stock companies and bonds. government in the future.  LINK

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Samson:  Iran: Iraq will turn into the largest economic market in the region during the next decade

23rd September, 2022

The head of the Iranian-Iraqi Joint Chamber, Yahya Al Ishaq, expected on Friday that Iraq will turn into the largest economic market in the region during the next decade, especially for Iran, stressing that his country seeks to increase the volume of trade exchange with this neighboring country.

The Iranian official attributed, in a statement carried by the semi-official Iranian news agency "Fars" today, the reason for the decline in Iran's exports to Iraq during the past two months due to the export of gas and electricity to this country, explaining that given the talks that took place between the two countries, this issue should be resolved.

He added that in addition to the decline in the volume of Iranian exports to Iraq, we also witnessed an increase in the export of non-oil goods to this country, and we hope that our exports to Iraq will reach 10 billion dollars by the end of the current Iranian year (ending March 20, 2023).

Al Ishaq considered the Iraqi market to be a strategic market, and he expected that the percentage of exports to this country would rise during the next few months, especially as trade exchanges with Iraq could reach $20 billion within the coming years.

He also said that, during the next 10 years, Iraq will turn into the largest economic market in the region, especially for Iran. He saw that Iraq is not a weak country in economic terms, as it exported 11 billion oil last month only and intends, according to the planning of its program, to obtain 120 billion dollars this year.

The Iranian official added that, given the conditions that prevail in Iraq due to the conditions in which it lived due to the war and other issues, it has become lagging behind in the areas of production, infrastructure, electricity, gas and roads. Iraq, as Iranian economic activists should take advantage of these opportunities in the best possible way.  LINK

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Samson:  Parliamentary Integrity: We are back to ground zero after our files in Parliament were stolen and burned

23rd September, 2022

A member of the Parliamentary Integrity Committee, Ali Turki Al-Jamali, confirmed today, Friday, that 

Al-Jamali told Al-Maalouma, "Parliament is witnessing a deliberate obstruction of its sessions by its president, who argued that the technical situation of the parliament building does not currently allow sessions to be held despite the demands that they be held."

He added, "The Parliamentary Integrity Committee was one of the first committees to take the initiative to go to the parliament building after the end of tensions inside the Green Zone in central Baghdad."

And he indicated that "the committee found that all its files, priorities and papers affiliated with it had been destroyed, burned and stolen as well, and therefore the committee returned to zero, with the exception of what remained of some papers that some members managed to put under the hand, as the blood is recent as a result of entering to the council and tamper with its contents when storming the Green Zone.”  LINK

Samson:  Including Arab .. List of the richest countries in the world

09/23/2022 00:20:02

 The global wealth report showed a decline in wealth growth in 2021 due to the difficulties faced by the global market environment during the past months.

The Credit Suisse Institute published its 13th Global Wealth Report, which shows the continued growth of wealth in the United States, Canada and China and its decline in other regions. The report found that wealth grew at a strong pace in 2021, and by the end of the year, total global wealth amounted to about $463 trillion, an increase of 9.8 percent. However, the report notes that factors such as inflation, rising interest rates and declining asset and real estate prices could affect the gains made in 2021.

The report says that most parts of the world contributed to the increase in global wealth, but North America and China dominated that increase, with North America accounting for just over half of the global total, and China accounting for nearly a quarter.

In contrast, Africa, Europe, India and Latin America combined accounted for only 11.1 percent of global wealth growth, while growth was only 1.5 percent in Europe.

According to the report, the most important development in 2021 was the large-scale and significant gains in stock prices.

Shares rose in about 31%, followed by France (28%), the United States (23%), Italy (23%) and Canada (22%). 

Elsewhere, share prices rose by more than 30 percent, such as Austria, Sweden, Saudi Arabia, Vietnam and Israel, and by more than 40 percent in Romania, the Czech Republic and the United Arab Emirates.

The report also indicated that the number of people owning one million dollars or more rose by an additional 5.2 million members during 2021, and their total number reached 62.5 million people worldwide by the end of the year.

The United States ranked first in the number of millionaires with 30,470 millionaires, followed by China with 5,200 millionaires.

According to the report, Switzerland ranked first in the list of average wealth for the year 2021, followed by the United States and Hong Kong, and for the Arab countries, only Qatar appeared in the list at 39th.

LINK

MilitiaMan Thursday PM "This Is HUGE" 9-22-2022

KTFA:

Samson:  France's Total refuses to complete a $27 billion contract with the national oil company

22nd September, 2022

The independent deputy, Basem Khashan, revealed today, Thursday, the reason for the French company's refusal to complete a contract worth 27 billion dollars with the National Oil Company

Khashan wrote in a Facebook post, saying, “The French Total refused to complete a contract worth 27 billion dollars because of its refusal to participate in the National Oil Company, which the new government and parliament have not yet announced its full legal status,” stressing that “this is a direct indication of the illegality of this transaction.” the company

He added, "The decision issued by the Federal Court yesterday cut the way for this deal and other deals that the Minister of Oil and Al-Kazemi wanted to complete before their departure to ensure a very appropriate retirement  LINK

MilitiaMan:  This is huge. They refuse the deal with the NOC (National oil company) . They cut a deal instead with MOO (Minister of Oil) .. They have the Total Deal sorted prior to leaving to the UN in NYC. They are doing other deals, as they mentioned too.. I will bet that Kahdimi will have much to say tomorrow afternoon post 3:00pm  EST... imo ~ MM

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Samson:  Sources: an arrest warrant against the son of the Minister of Oil, because of the commissions in the National Oil Company

22nd September, 2022

Informed sources revealed, Thursday, 22/09/2022, the issuance of an arrest warrant against Mortada Ihsan Abdul-Jabbar, son of the Minister of Oil.

The sources said that the arrest warrant against the son of the oil minister was issued by the National Oil Company.

The Federal Court had decided, earlier, to cancel the assignment of Ihsan Abdul-Jabbar with the tasks of managing the National Oil Company.

The Karkh Investigation Court, which is specialized in integrity issues, also issued an order to bring in Oil Minister Ihsan Abdul-Jabbar, one of the ministry's undersecretaries and two general managers.

The court said in a statement that it decided to bring in the Minister of Oil, Ihsan Abdul-Jabbar, one of the ministry’s undersecretaries and two general managers, in accordance with the provisions of Article 316 BC, against the background of exploiting their jobs and unlawfully seizing the plot of land numbered 7/68, Al-Daoudi District 20, owned by the Central Oil Company, whose area is 1600 square meters located in an important commercial area of ​​Baghdad province.  LINK

MilitiaMan:  This is looking to be falling in place. The Total deal being completed prior to Kahdimi leaving to NYC and now they have an arrest warrant issued. This is a good thing for the Iraqi citizens future.. Slowly, but methodically they are holding the corrupt accountable. imo ~ MM

KTFA Members "News and Views" Thursday 9-22-2022

KTFA:

Samson:  France's Total refuses to complete a $27 billion contract with the national oil company

22nd September, 2022

The independent deputy, Basem Khashan, revealed today, Thursday, the reason for the French company's refusal to complete a contract worth 27 billion dollars with the National Oil Company

Khashan wrote in a Facebook post, saying, “The French Total refused to complete a contract worth 27 billion dollars because of its refusal to participate in the National Oil Company, which the new government and parliament have not yet announced its full legal status,” stressing that “this is a direct indication of the illegality of this transaction.” the company

He added, "The decision issued by the Federal Court yesterday cut the way for this deal and other deals that the Minister of Oil and Al-Kazemi wanted to complete before their departure to ensure a very appropriate retirement  LINK

Pete2001:  this seems like an important article....not sure which way this points to for our investment, imo

Samson:  Al-Kazemi meets his Kuwaiti counterpart in New York

21st September, 2022

Wednesday, Prime Minister Mustafa Al-Kazemi met his Kuwaiti counterprart Sheikh Ahmed Nawaf Al-Ahmad Al-Sabah in New York. 

And the Prime Minister's media office said, in a brief statement received by "Al-Naeem News", that "Prime Minister Mustafa Al-Kazemi met in New York with Kuwaiti Prime Minister Sheikh Ahmed Nawaf Al-Ahmad Al-Sabah."  LINK

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Samson:  The Minister of Foreign Affairs discusses with his Saudi counterpart the bilateral relations between the two countries

09/22/2022 18:18:50

Foreign Minister Fouad Hussein discussed, today, Thursday, with his Saudi counterpart, the bilateral relations between the two countries.

In a statement received by Al-Furat News, Foreign Ministry spokesman Ahmed Al-Sahaf said, "Foreign Minister Fouad Hussein met with his Saudi counterpart, Faisal bin Farhan, the bilateral relations between the two countries and ways to advance them to serve the interests of the two peoples."  LINK

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Samson:  Oil prices continue to rise amid fears of tight supplies

22nd September, 2022

Oil rebounded today, Thursday, as fears of tight supplies with the onset of winter overshadowed fears of a global recession

Brent crude futures rose 50 cents, or 0.6%, to $90.33 a barrel by 03:19 GMT, offsetting losses in early Asian trade, and US West Texas Intermediate crude rose 45 cents to $83.39. Both benchmarks fell to nearly two-week lows on Wednesday after the US Federal Reserve raised interest rates by 75 basis points for a third time to tame inflation

Meanwhile, some Chinese refineries are considering increasing operations in October, eyeing increased demand and a possible reversal of Beijing's fuel export policy, which could boost demand for crude oil but analysts at "Citi" said in a note that oil prices remain under selling pressure due to the build-up of inventories and the deteriorating economic outlook

US crude stocks rose by 1.1 million barrels in the week ending September 16 to 430.8 million barrels

A higher dollar also put a lid on oil price gains as it makes crude oil more expensive for many buyers. The dollar index touched a 20-year high against a basket of other currencies on Wednesday  LINK

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Samson:  3 years in prison for a former local official and his employees in Tikrit

22nd September, 2022

Today, Thursday, the Iraqi judiciary issued a 3-year prison sentence against a former local official and two employees in the city of Tikrit, Salah al-Din Governorate. 

An official source told Shafaq News Agency, that a court ruling was issued today against Omar Al-Jarad, the former director of Tikrit municipality, and the employees in his office, "Ahmed Mazhar" and "Nazim al-Samarrai", to imprisonment for 3 years in corruption cases.  LINK

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DoTalkToMe:  We await outcome of UN meetings. The excruciatingly long labor pains are going to give birth....and this BABY is about to come forth and temperarily save the world's economy from imploding. IMO

Billuke: I posted this reply several times in past years....Baby? It's been so long, it should give birth to an adult. 

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Samson:  Imprisonment and imprisonment of a general manager at the Investment Authority and an officer of the Interior

22nd September, 2022

The Federal Integrity Commission announced today, Thursday, the issuance of two verdicts convicting a former director general in the National Investment Commission, and a liaison officer between the ministries of interior and health.

The commission's investigation department said, in a statement received by Shafaq News Agency, that the Rusafa and Al-Muthanna Criminal Courts, which are specialized in integrity issues, issued two sentences of imprisonment and imprisonment in the presence of the former Director-General of the Relations and Promotion Department in the National Investment Commission, and a liaison officer between the Ministry of Interior and the Muthanna Health Department.

The circuit added that the Rusafa Misdemeanor Court issued a prison sentence with enforcement against the accused, the Director-General, on the issue of exploiting his position to recruit foreign workers and diverting them outside the workplace.

She explained that the Al-Muthanna Criminal Court, which is specialized in integrity issues, issued a sentence of imprisonment for five years and one month, and a fine of (23,000,000) million dinars on the accused who holds the position of liaison officer between the Ministry of Interior and the Muthanna Health Department; for appointing (38) policemen by a forged ministerial order, pointing out that the court issued the ruling; 

According to the provisions of Article (289) of the Penal Code. She emphasized that the two courts, after reviewing the evidence obtained in these two cases, found it sufficient and convincing to convict the accused.  LINK

Samson:  In the document: The judiciary decides to bring in the Minister of Oil and a number of ministry officials

22nd September, 2022

The Baghdad / Karkh Court of Appeal decided to bring in the Minister of Oil, Ihsan Abdul-Jabbar, against the background of the seizure of privileged lands belonging to the Central Oil Company

And a document seen by Al-Ghad Press stated, “This court is conducting an investigation into the information attributed to the National Oil Company, which includes the seizure of privileged lands belonging to the Central Oil Company in the Mansour area and selling them in violation of the law of selling and renting state funds, and in order to complete the fundamental investigations, the court decided to bring in the accused.”

Each of (Ihsan Abdul-Jabbar Ismail, Firas Ali Muhammad Sadiq, Hamid Younis Saleh and Qaddouri Abdul Salim) according to the provisions of Article 316 of the Penal Code, for the accusation of exploiting their jobs and unlawfully seizing the plot of land numbered (7/18, District 20 Daoudi) owned by the Central Oil Company  LINK

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Samson:  Massive protests continue in Iran (video)

22nd September, 2022

Today, Thursday, a video clip showed the continuation of massive protests in Iran against the background of the killing of Mahsa Amini.

The video received by (Baghdad Today) shows the massive protests that roam the Iranian streets in light of the continuation of the demonstrations and their movement to most parts of the country against the background of the death of the Kurdish young woman, Mahsa Amini, hours after her arrest by the morality police" because of the way she wore the hijab."

Earlier this week, the Iranian authorities confirmed the deaths of 3 people during popular unrest following the death of the young woman, Mahsa Amini, while in police custody, but sought to exclude any responsibility of the security forces for this, saying that the killing of the protesters was "suspicious."

Protests over the killing of Amini continued in several cities, including the capital, Tehran, at a time when the police announced the arrest of 22 demonstrators, and the United Nations expressed concern about the Iranian government's response to the protests and 22-year-old Mahsa Amini died last Friday, after she fell into a coma after she was arrested by the morality police in Tehran for her "improper dress", which sparked outrage across the country and protests in many regions.

VIDEO LINK   LINK

MilitiaMan Wednesday Evening "It's Show Time" 9-21-2022

KTFA:

What will Al-Kazemi have for Biden during his upcoming visit to Washington?

And political analyst Ali Al-Baydar says, in a report that I followed (Baghdad Today), that “the political crisis will certainly be present during Al-Kazemi’s talks with American officials in Washington, but since Al-Kazemi is not a party to this crisis, and the political parties see themselves as greater than the government and its president, he He will present the crisis with all impartiality, and present his observations and proposals for solutions to the American administration."

Al-Baydar points out, “The Iraqi street has become convinced that the United States is the main responsible for any failure that occurs in Iraq, because it is the one who established the existing political system, and I think that Al-Kazemi should deliver this message to officials in Washington to urge them to intervene, because the patience of the Iraqis has begun.” Running out".  LINK

Foreign Minister: Iraq's speech on the work of the General Assembly will deal with the results of the elections and the file of forming the next government

20th September, 2022

Tuesday, Foreign Minister Fouad Hussein confirmed that Iraq's speech on the work of the United Nations General Assembly, which Prime Minister Mustafa Al-Kazemi will deliver, will address internal issues, including the election results and the file of forming the next government. LINK

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 On his visit to Washington, Al-Kazemi opens the outstanding Iraqi files

And the political analyst warned that “the internationalization of the Iraqi crisis is possible if the dispute continues and develops into the use of weapons again, as happened previously in the Green Zone and Basra Governorate, and the issue of internationalization is the most prominent thing that world leaders will present to Al-Kazemi, as the international community will not remain idly by regarding what is happening.” in Iraq".

The axes of the Iraqi crisis are currently summarized in the insistence of the "coordinating framework" forces on resuming parliament sessions and resuming its work in full. It also adheres to electing a president and a prime minister with full powers instead of the current caretaker government headed by Al-Kazemi, and then going towards amending the current election law.  LINK

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MilitiaMan:  I bet the flys on the walls will be all a buzzing for key wording in Kahdimi's speech Friday.

The themes of the government, security, stability, economic reforms, etc., are all on the table. This is show time now.

The presentation in the below video is similar to that of the video they produced when Kahdimi arrived and met in Eygpt. They are well staged in advance and produced professionally.

They are not someone stumbling upstairs, nor with a wind blown little man on the Tarmac to be dissed by another administration on the White House Lawn again.  They are show casing a leader, not an interim fly by night entity.. No!!..

 It is like the world knows who is to lead them into the future and the reconstruction of Iraq with all her reforms, government in place and sovereignty in full force globally.

The UN and by extension the USA and Great Britain are key players in helping facilitate the process if need be.

The citizens of Iraq are getting very impatient, just as you and I are. Again, it is show time.. imo

I like where we are and it looks like the final push is upon us.. imo.. A good thing.. ~ MM

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Prime Minister Mustafa Al-Kazemi leaves Baghdad for New York  19th September, 2022 

https://youtu.be/Fi9VugMF4tY

https://youtu.be/Fi9VugMF4tY?t=16

KTFA Members "News and Views" Wednesday PM 9-21-2022

KTFA:

Samson:  Iraq officially joins the Asian Investment Bank

21st September, 2022

On Wednesday, Iraq announced that Iraq had officially joined the Asian Infrastructure Investment Bank.

The Iraqi embassy in China said that "Iraq has officially joined the Asian Infrastructure Investment Bank," noting that "the Iraqi ambassador in Beijing, Shorsh Khaled Saeed, from the President of the Asian Investment Bank for Infrastructure John Lequin, a certificate of membership for Iraq's accession to the bank."

And she added, "Iraq has become the 92nd member out of 140 countries in the bank."

It is noteworthy that the Asian Infrastructure Investment Bank agreed to Iraq's formal accession to it late last year.

It is hoped that the Asian Infrastructure Investment Bank will provide soft loans to build infrastructure for member states, including Iraq.   LINK

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Zeeman:  Iraq joins AIIB!  .why has no one talked about this. This is quite a big deal. This will provide soft loans for infrastructure.

Clare:  IT IS HUGE NEWS! IMO!

Suzie:  how are they doing this......on a program rate???   Just imo

JaimieO:  The same way Vietnam is doing VERY well, with one of the fastest growing GDP's in the world... all with a toilet paper exchange rate that is W A Y lower than the IQD... IMO

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Samson:  Iraq is a member of the Asian Infrastructure Investment Bank

21st September, 2022

The Iraqi ambassador in Beijing, Shoresh Khaled Saeed, received from the head of the Asian Infrastructure Investment Bank John LeQueen, a certificate of membership for Iraq to join the bank.

Thus, Iraq became the 92nd member of the Bank. The ceremony of receiving the certificate included placing the Iraqi flag among the group of member states at the Bank's headquarters.

The Asian Infrastructure Investment Bank will provide soft loans to build infrastructure for member states, including Iraq.   LINK

Samson:  Integrity carries out four seizures of fraud and embezzlement cases in Diyala

21st September, 2022

The Federal Integrity Commission announced today, Wednesday, the implementation of four seizures of price hikes, forgery and embezzlement in a number of departments in Diyala Governorate.

The Commission's Investigation Department stated, according to a statement received by Mawazine News, that "the staff of the Diyala Investigation Office revealed violations in the process of disbursing the salaries of daily wage earners working in the Muqdadiya Municipality Directorate, based on Cabinet Resolution No. February and March 2022 for service employees working as a contract in the Directorate, as there are also violations in it.

The statement added that "the office's staff, which moved to the Oil Products Distribution Company in the province, detected an exaggeration in the purchase prices of the tools for maintaining the mechanisms belonging to the company, noting that the purchase receipts that were manipulated in the prices fixed in them were seized, indicating that the total amounts disbursed amounted to (75,740,000) Million dinars".

He explained, "During the third operation, two employees of the Private Transport Authority in Diyala were arrested for collecting more amounts than what is legally prescribed, and keeping them for their personal benefit, pointing out that signed and unwritten collection receipts were seized from one of the accused, in addition to a receipt book in the possession of the other." 

He pointed out that "the work team that moved to the Cooperative Agricultural Bank revealed the process of granting a loan through manipulation and forgery," indicating that some of the bank's employees organized a loan transaction in the name of a person and disbursed it without his knowledge and approval.  LINK

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Samson:  One trillion dinars worth of embezzlement in the General Tax and Customs Authority

21st September, 2022

Representative Ahmed Al-Jubouri revealed, Wednesday, 21/09/2022, a misappropriation of one trillion Iraqi dinars in the General Tax Authority and the Customs Authority.

Al-Jubouri said in a tweet on Twitter, which was followed by the obelisk, that the extent of corruption in the General Tax Authority and the Customs Authority is very large and does not stop at blackmailing citizens, but exceeds it for the amounts of insurance deposited by foreign companies and merchants importing goods.

He added: embezzlement amounting to nearly a trillion Iraqi dinars was discovered, calling on the judiciary and integrity to investigate and investigate those responsible.

Observers believe that the systematic corruption that is taking place in the Customs Authority contributed to the squandering of public money.

The resigned Finance Minister, Ali Allawi, says that the customs file contains a lot of corruption and waste of money due to conflicting information between the Central Bank, the customs and the Office of Financial Supervision

Statistics indicate that Iraq annually imports goods at a minimum of 70 billion dollars, and the value of its customs exceeds 9 billion dollars, which means that these funds enter the state treasury, but things are different from reality, according to Allawi

. He explained that the highest revenue from customs did not exceed one billion and half a billion dollars, which means that there are 7 to 6 billion dollars missing, mostly due to the government's lack of control over the border outlets of the Kurdistan region  LINK

Samson:  On his visit to Washington, Al-Kazemi opens the outstanding Iraqi files

21st September, 2022

Concern multiplies in the Iraqi street about the continuation of the longest political crisis in the country since the US invasion of Iraq in 2003, in light of political and popular fears of a recurrence of armed conflict or heading towards an unknown political, economic and security reality.

 Yesterday, Tuesday, Prime Minister Mustafa Al-Kazemi arrived in New York to participate in the work and meetings of the United Nations General Assembly, which will start today.

A statement stated that Al-Kazemi will deliver Iraq's speech at the General Assembly meeting, and he will meet on the sidelines of the Assembly's work with a number of kings and heads of brotherly and friendly countries participating in the meetings, as well as a meeting with the Secretary-General of the United Nations. He added that "the Prime Minister, on the sidelines of the participation, will meet with a number of officials of international and regional organizations to discuss the most important files for cooperation at various levels. In order to address the economic and political challenges facing Iraq and the region.

Foreign Minister Fouad Hussein affirmed, "Iraq's speech on the work of the United Nations General Assembly, which Prime Minister Mustafa Al-Kazemi will deliver, will address internal issues, including the election results and the file of forming the next government."

A visit to the impact of Iraqi political tension

Al-Kazemi’s visit to America comes this time, in light of political and popular fears of a recurring armed clash, after the end of the religious forty visit, in light of the continuing political tension between the “Sadr movement” and the “coordinating framework.”

For his part, the leader in the "Coordination Framework", Fadel Mawat, said that his coalition "strongly rejects any external interference by Washington or the West in Iraq's internal affairs and in the current political crisis, especially since any intervention of this kind will deepen the conflict and differences instead of resolving them."

Mawat explained that Al-Kazemi "is required to discuss the files that concern Iraq, which are the economic and security, and not to address the political issue, as this is a matter for the Iraqi political forces, and they are the guarantee to resolve this dispute according to dialogue and negotiation and in the constitutional and legal frameworks." Mawat confirmed that Al-Kazemi “will inform the leaders of the political forces after his return, headed by the coordination framework, about the schedule of his visit to the United States, to find out the files he discussed there, and whether there is a tendency to conclude any new agreement, as he does not have any authority to conclude any international agreements as President A caretaker government, which is a government lacking in powers.”

On the other hand, said political analyst Maher Judeh. Al-Kazemi “will discuss the Iraqi political situation, the dispute and the conflict between blocs and parties. With the international community during his upcoming visit to the United States, especially since there are international messages of warning and concern that reached during the past period to many Iraqi political parties and even the government.

And Judeh indicated that "the political crisis will top the files that the Prime Minister will discuss with the leaders of the countries with whom he will gather. On top of them is Biden, and we also expect that Al-Kazemi will hear strongly worded warning messages about the evolution of the political conflict in Iraq to the use of violence and weapons.

And the political analyst warned that “the internationalization of the Iraqi crisis is possible if the dispute continues and develops into the use of weapons again, as happened previously in the Green Zone and Basra Governorate, and the issue of internationalization is the most prominent thing that world leaders will present to Al-Kazemi, as the international community will not remain idly by regarding what is happening.” in Iraq".

The axes of the Iraqi crisis are currently summarized in the insistence of the "coordinating framework" forces on resuming parliament sessions and resuming its work in full. It also adheres to electing a president and a prime minister with full powers instead of the current caretaker government headed by Al-Kazemi, and then going towards amending the current election law.

Featured files

On the other hand, the Sadrist movement rejects this and insists on dissolving parliament and holding early elections within 9 months. It also proposes amending paragraph 76 of the constitution regarding the major bloc that has the right to form a government. He also raises another demand, which is the amendment of the Federal Court law to be more independent from the political parties that, since 2005, have actually chosen the 11 members of this court, using sectarian and partisan quotas. In addition, the Sadrist movement refuses to amend the electoral law.

His meetings on the sidelines of participation in the meetings of the General Assembly of the United Nations

 Al-Kazemi met in New York, the King of the Hashemite Kingdom of Jordan, King Abdullah II bin Al-Hussein. On the sidelines of participation in the meetings of the United Nations General Assembly.

His media office mentioned that during the meeting, bilateral relations between the two countries and ways to enhance them were discussed. As well as discussing the latest developments on the regional and international arenas. He pointed out that “the meeting discussed preparations for holding the Baghdad 2 Conference for Cooperation and Partnership in Jordan. As well as discussing economic cooperation in various fields and at all levels. He also reviewed the stages of progress in the electrical interconnection project that the two countries were keen to move forward, due to the benefit and interest of the two brotherly countries.

The statement continued, "The two sides stressed the importance of maintaining joint coordination and continuous cooperation in various fields, in light of the outcomes of the tripartite summit meetings that resulted in several agreements. It can contribute to achieving the interests of the peoples of the two brotherly countries, and the rest of the peoples of the region.”

Bilateral cooperation

Al-Kazemi and Iranian President Ibrahim Raisi discussed bilateral cooperation, while they stressed the importance of accelerating the work of the agreement between the two countries on addressing climate challenges.

A statement from his media office said that "the meeting touched upon Iraq's prominent role in achieving regional security and stability, by resolving differences between countries based on the policy of dialogue and calm, and convergence of views." In order to achieve peaceful solutions in the region, he pointed out that “the two sides stressed the importance of continuing bilateral cooperation between the two neighboring countries, in various fields, especially economic, security, cultural, and energy, and high coordination to confront climate changes, and speeding up work on the agreement concluded between the two countries on addressing climate change.” Climate challenges the world is witnessing.

Economic cooperation

He also met with Spanish Prime Minister Pedro Sanchez and the two sides stressed the importance of strengthening joint cooperation in the economic field.

A statement explained, "The two sides reviewed Iraq's efforts in combating terrorism and pursuing its remnants, and the importance of strengthening security cooperation with the North Atlantic Treaty Organization (NATO) countries that provide assistance to the Iraqi security forces in the field of advice and training, and the meeting also witnessed an emphasis on cooperation in the economic field, especially in the field of Alternative Energy".

The statement concluded that “the meeting witnessed an emphasis on the importance of the reform programs pursued by the Iraqi government, and its positive endeavor to secure sustainable development. This contributes to enhancing stability and security in Iraq and the region.”

The Austrian chancellor expressed his thanks to Al-Kazemi. He highly appreciated the efforts of Iraq and its security forces in pursuing the remnants of terrorism and drying up its sources. He pointed out that “the meeting discussed dealing with the immigration file, and preparing for the voluntary return of Iraqi immigrants. As well as looking into the prospects of direct air link between Iraq and Austria. And the possibilities of cooperation in the field of clean and renewable energy, and the development of investment in the field of solar energy.”

The two sides expressed their "support for efforts to calm down, enhance stability in the Middle East, and support Iraq's efforts to bring about sustainable development, economic reform, and activate regional cooperation."

Al-Kazemi had visited Washington in July 2021, where he held the fourth and final round of strategic dialogue with US President Joe Biden. Which ended with the announcement of the withdrawal of US combat forces from Iraq at the end of last year, according to the announcement of the Iraqi government at the time.

The visit comes amid a stifling political crisis in the country, described as the worst in the post-2003 history of Iraq, which came after the early legislative elections were held last October.  LINK

Sir:  IMO-Is it possible that Kazemi is going to drop the MOAB’s in his speech before the UN on Friday? Will Kazemi announce that Iraq will move away from the petro-dollar and join the BRICS nations! Very interesting… Bye bye Byedan and the UN Iraq don’t need you!

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Samson:  Political analyst: Parliament session next Saturday, and another more important on September 27

9/20/2022 23:41:37

 The political analyst, Abu Mithaq Al-Masari, suggested that a parliamentary session will be held next Saturday to elect the first deputy speaker of the House of Representatives.

  Al-Masari said; for the “Al-Sistara” program broadcast by Al-Furat satellite channel tonight: “Next Saturday, a parliamentary session will be held to elect the first deputy speaker of the House of Representatives, and on the 27th of this month, if the session goes positive, the President of the Republic will be elected and the Prime Minister will be assigned to form the government.” "Security arrangements in Baghdad are underway to prevent abuse or encroachment on state institutions," he said.

Al-Masari added that "the meeting of the coordination framework candidate for the prime minister, Muhammad Shiaa Al-Sudani, today was not provocative to any particular political bloc or party, and the country is in danger and the necessity of the path, as independent deputies, Charna and others attended the meeting."  He explained, "The meeting came as an urgent extrapolation, in which the person in charge seemed useful and important towards amending and evaluating his next government, and everyone is seeking to mature the form of the government and move the political process forward." 

Al-Masari added, "So far, the framework has not dropped its approval or participation of the movement in the next government, and it will not turn its back on it and in constant communication with its leaders. Before the Arbaeen visit, there were two successive visits to the movement."   He noted that "there is no constitutional text that stipulates that the next government should be one year old. We have a political reference and a constitution. We judge a mechanism regarding the form of the next government. There is no alternative to the constitution despite all the observations about it."

Al-Masari stressed, "The framework has gone on to achieve a strong, service government that fulfills its tasks and obliges others to do so. Everyone suffers, and the conditions when they are presented to special moods at the expense of people's interests are very flawed, and the formation of the government as soon as possible leads to achieving the citizens' demands." He continued, "The framework does not have harsh conditions or determination, even the leader of the Sadrist movement, Mr. Al-Sadr. We saw from him that he did not object to Al-Sudani's personality as a candidate for the government, but he objected to the selection mechanism and did not officially demand the replacement of Al-Sudani with another candidate."

He considered Al-Masari, returning the cart to the tracks is "the biggest and main concern, and then all matters are subject to negotiation, substitution and replacement. As for the tripartite delegation, it will discuss the participation of the Sadrist movement in forming the government." 

He concluded by saying, "The Kurdistan Alliance is supposed to take its turn towards holding the parliamentary session to elect the president of the republic, instead of asking the framework to achieve a quorum of 220 deputies to elect their candidate."  LINK

Some "Tuesday News" Posted by Samson at KTFA 9-20-2022

KTFA:

Samson:  Putin: The world order is currently changing and the world is moving towards pluralism

20th September, 2022

Russian President Vladimir Putin said that Russia had not received any response to its offer to provide countries in need with grain for free.

In his speech, while receiving the credentials of a number of new foreign ambassadors, Putin added that "the European Union's refusal to respond to Russia's proposal to transfer Russian fertilizers from European ports to developing countries for free is the height of ridicule."

In a separate context, the Russian President stated that "the world order is currently changing and the world is moving towards pluralism," adding that "the hegemony in world affairs cannot last forever." 

LINK

Samson:  The World Bank expresses its concerns about the recession in the global economy

20th September, 2022

The President of the World Bank, David Malpass, today expressed his concerns about a worsening global economic recession.

Malpass said during a press statement that the global recession may continue beyond 2023, adding that a strong dollar is one of the main components that support the US financial markets.

Earlier, World Bank President David Malpass said today that the lack of progress by the world's largest economies in relieving the debt burden of the poorest countries while increasing borrowing costs will exacerbate poverty and instability rates.

Malpass added in a TV interview that debt relief is of great importance to the world because interest rates are rising. The head of the World Bank Group explained that debt was already very stressful, and now countries are suffering from currency devaluation, which is causing inflation.”   LINK

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Samson:  Bank of America: Average oil prices in 2023 will reach $100 per barrel

20th September, 2022

Bank of America expects that the average oil price will reach $100 per barrel next year 2023, indicating that this rate of prices comes with the recovery in demand in China and the decline in Russian production, which keeps global supplies scarce 

The bank said, oil will average $100 a barrel in 2023 as demand returns in Asia and Russian production declines, and further disruptions to Russian supplies may push prices up, but the global recession may limit them 

In a note on global oil demand, Bank of America strategists said the Asian region is expected to achieve 86% of the 1.7 million barrels per day of oil consumption growth we expect for next year, compared to just 19% of the 2 million barrels per day we expect. 2022 

For 2023, the Bank expects oil demand to grow at an average of 1.7 million barrels per day, which is lower than what the International Energy Agency, the Energy Information Administration and OPEC expect.  LINK

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Samson:  Parliamentary Oil: Iraq recorded the largest financial abundance in its history this year

9/20/2022 18:30:00

The Parliamentary Oil and Gas Committee announced today, Tuesday, that Iraq recorded the largest financial abundance in its history this year.

 Committee member Durgham al-Maliki told Al-Furat News: "Iraq has a great opportunity to benefit from the financial surplus and the escalation of the export rate."

He added, "It has a great opportunity to prepare infrastructure and improve living conditions from the escalation of oil exports, as Iraq recorded the largest financial abundance in its history this year."

Al-Maliki indicated, "The political problems and the survival of the caretaker government devoid of authority negatively affected the investment of these funds, as well as the lack of authority to approve a budget to take advantage of this abundance."   LINK

Samson:  Iraq will meet with 3 Arab countries next week to discuss the file of economic integration

20th September, 2022

Representatives from Iraq will meet next week with their counterparts in 3 Arab countries to discuss the file of economic integration, while the Iraqi and Lebanese sides agreed to export surplus agricultural products in both countries.

A statement issued by the Ministry of Agriculture, received by the Iraqi News Agency (INA), said that the Minister of Agriculture, Muhammad al-Khafaji, held a joint meeting at the center of the ministry this morning, Tuesday, with his Lebanese counterpart, Abbas Hajj Hassan, in the presence of the Lebanese ambassador to Iraq, the president and members of the Baghdad Chamber of Commerce, and senior traders and importers to discuss ways Joint cooperation in the field of commodity exchange between the two brotherly countries and ways to create an integrated economic environment between brotherly countries, including Lebanon, as well as overcoming the obstacles facing the export and import of agricultural products.

 The statement quoted the official spokesman of the ministry, Hamid Al-Nayef, as saying that "Minister Al-Khafaji stressed the keenness of the Iraqi government represented by the Ministry of Agriculture to increase cooperation and agricultural trade exchange between Iraq and the brotherly Arab countries in all fields and in a manner that serves common interests, in addition to facilitating procedures for the export and import processes and supporting exporters and importers
 

According to the statement, Al-Khafaji agreed to a proposal to establish a joint Iraqi-Lebanese transport company that works to transport goods and agricultural products between the two countries and deliver them to consumers at the lowest prices and costs, noting that "this process is carried out through the private sector and that the ministry will be supportive of it

." Al-Khafaji explained that "the ministry protects the local product on the one hand and protects the consumer on the other hand, and this partnership does not affect the locally supplied products, as all imported products are not provided locally and according to the agricultural calendar that controls the import and export process

According to the statement, the Minister of Agriculture stressed the need to work hard to build a real partnership for economic integration between the two countries, announcing the holding of a four-way meeting between Iraq, Syria, Lebanon and Jordan early next week in Amman in order to continue searching for possible means to make the process of economic integration between the four countries succeed

For his part, the Lebanese minister affirmed the depth of the brotherly relations between the two countries in all fields, noting that "Lebanon has many agricultural crops that are surplus to need and it is possible to export them to Iraq, in addition to allowing the export of Iraqi agricultural products that are surplus to need, including dates, to Lebanon within the framework of the commodity exchange policy. agricultural products between the two countries  LINK

Monday Night KTFA CC "There Was Peace In The Streets" 9-19-2022

KTFA

Monday night KTFA CC

Frank26:  9-19-22………THERE WAS PEACE IN THE STREETS

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

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

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

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

https://www.youtube.com/watch?v=XOr5ygExLH0

KTFA Members "Debt Julilee??" Monday 9-19-2022

KTFA:

Sir:  Good morning KTFA  IMO-This is a great article to start the week off, “which should prove to be a truly eventful week” Can you smell what this article is all about? I smell a debt jubilee in the air and  it’s has to be world wide..  Happy Monday all.. 

Samson:  The Director General, Chairman Of The Board Of Directors, Delivers A Speech At The Opening Of The Meeting Of The Forty-Sixth Session Of The Council Of Governors Of Arab Central Banks And Monetary Institutions

19th September, 2022

His Excellency Dr. Abdul Rahman bin Abdullah Al Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund

Delivering a speech at the opening of the meeting of the forty-sixth session of the Council of Governors of Arab Central Banks and Monetary Institutions

The inflationary wave, the risks of stagflation, food security challenges, high commodity prices, fluctuations in global supply chains and climate change are the most prominent risks facing the global economy

It is estimated that the Arab economies will achieve a growth rate of about 5.4 and 4.0 percent in 2022 and 2023, respectively, while the inflation rate is estimated to reach about 7.6 percent and 7.1 percent during these two years.

The growth paths in the Arab countries have been affected by developments related to the continuation of the procedures, arrangements and financial packages to contain the repercussions resulting from the Corona pandemic, the effects resulting from the current global developments on Arab economies, and the expected course of macroeconomic policies, especially monetary policy

17.8 percent, the average capital adequacy ratio for Arab banks, and the ratio of coverage of loan provisions to the total non-performing loans of Arab banks amounted to about 91.1 percent at the end of 2021

$2.25 billion, the value of loans provided by the Arab Monetary Fund from 2020 until the end of the first half of 2022

11.3 percent unemployment rate, and $756.2 billion public debt in Arab countries

The Fund has issued a number of guides and guiding principles to help Arab countries adopt appropriate policies 

The construction of the Buna platform for inter-Arab payments has been completed

His Excellency Dr. Abdulrahman bin Abdullah Al-Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, delivered a speech at the opening of the forty-sixth session of the Council of Governors of Arab Central Banks and Monetary Institutions, which was held this year in Jeddah, Kingdom of Saudi Arabia under the kind patronage of the Custodian of the Two Holy Mosques King Salman Bin Abdulaziz Al Saud, may God protect him and protect him.

 The meeting was attended by their Excellencies, governors of Arab central banks and monetary institutions, as well as senior officials from the International Monetary Fund and the Bank for International Settlements.  

His Excellency Dr. Al-Hamidi warned that the global economy may face major challenges related to the risks of stagflation, the repercussions of climate change, food security challenges, high commodity prices and fluctuations in global supply chains, which resulted in a reassessment of the global economy. 

His Excellency indicated that the global economy is estimated to achieve a growth rate of 3.2 and 2.9 percent for 2022 and 2023, respectively, which are estimates.  It is less than previous expectations, indicating that this reduction came as a result  of the uncertainty and the global developments that will result and the possibility of entering into the so-called stagflation state. With regard to the Arab countries, His Excellency indicated that, according to the estimates of the Arab Monetary Fund, Arab economies will achieve growth of about 5.4 and 4.0 percent in 2022 and 2023, respectively.  

With regard to the current inflationary wave, His Excellency referred  to the rise in the global inflation rate, to reach 8.3 percent in 2022 and 5.7 percent in 2023, pointing out that the Arab Monetary Fund expects the Arab countries as a group to record a relatively high inflation level during 2022 and 2023, reaching about 7.6 percent and 7.1 percent, respectively, in light of the continuation of the current international developments.  

On the other hand, His Excellency Dr. Al-Hamidi praised the efforts of Arab central banks in controlling the conditions of the financial and banking sector and enhancing its safety, noting that it is not expected that there will be a fundamental impact of high interest rates on monetary policy tools, on the ability of the Arab banking sector to lend. The indicators of the financial strength of the banking sector in the Arab countries achieved good results in 2021. In terms of capital adequacy, the average ratio in the Arab region reached about 17.8 percent at the end of 2021, which indicates that the Arab banking sector enjoys a high solvency, which enhances its ability to absorb potential losses, while the ratio of liquid assets to the total assets of this sector was about 32.7 percent. The ratio of coverage of loan provisions to the total non-performing loans of Arab banks reached about 91.1 percent at the end of 2021.

His Excellency Dr. Al-Hamidi indicated that the growth paths in the Arab countries are affected by three main factors, namely: developments related to the continuation of work with procedures, arrangements and financial packages to contain the repercussions resulting from the Corona pandemic, and the effects resulting from the current global developments on Arab economies, in addition to the expected path of macroeconomic policies in particular, monetary policy.

His Excellency referred to the most prominent economic challenges facing the Arab countries at this stage, which are represented in  the high rates of inflation and the unemployment rate, which recorded about 11.3 percent, which is equivalent to double the global average, in addition to the challenge related to the increasing rates of indebtedness in light of the rise in debt levels.

The year in the wake of the pandemic, indicating that the value of the public debt amounted to about $756.2 billion, representing about 107.3 percent of the gross domestic product of the borrowing Arab countries.

On the other hand, His Excellency stressed the importance of the Arab governments’ orientation towards accelerating the efforts of digital transformation and the transformation towards a knowledge economy, pointing out that the countries that were able to quickly recover from the repercussions of the crisis and deal with its repercussions effectively and efficiently were represented in the Arab countries with the highest levels of digital readiness. 

His Excellency Dr. Al-Hamidi praised the great efforts made by the committees and work teams emanating from the Board of Governors of Arab Central Banks and Monetary Institutions in addressing topics and issues of importance, developments and developments related to the priorities of Arab central banks, in a manner that enhances opportunities for exchanging expertise and experiences and transferring knowledge.  His Excellency also praised  the remarkable progress in the fifth edition of the Financial Stability Report in the Arab Countries for the year 2022, and its new chapters.

On the other hand, His Excellency the Director General and Chairman of the Board of Directors stressed the Fund's keenness to respond quickly to the needs of Arab countries in light of the repercussions of the Corona pandemic, indicating in this regard that the Fund  met borrowing requests as quickly as possible, noting that financial resources were provided to a number of member countries in the form new loans, or withdraw existing loans, to face the current economic and financial repercussions, through the application of the framework of quick procedures, which enabled the borrowing member states to benefit from these resources as quickly as possible, indicating in this regard that the total volume of resources provided by the Fund since 2020 until the end of the first half of 2022, it amounted to about 2.25 billion US dollars.

In the same context, His Excellency Dr. Al-Hamidi indicated that the Fund has intensified its efforts in organizing consultative meetings, exchanging experiences and expertise, and preparing reports and studies on current developments and prospects for Arab economies, indicating in this regard that the Fund has organized a large number of consultative meetings, with the participation of many institutions and frameworks regional and international, with the aim of consulting on existing issues and priorities in the Arab countries to support opportunities for financial stability.

In a related context, and in the context of strengthening the Fund's response to the challenges of the current crisis and providing advice to member states, His Excellency the Director General and Chairman of the Board of Directors of the Arab Monetary Fund indicated that the Fund will continue to issue a number of guides and guiding principles aimed at helping Arab countries adopt appropriate economic and financial policies.

In another context, His Excellency Dr. Al-Hamidi pointed out that the Arab Monetary Fund has completed the establishment of the "Bunni" platform for Arab payments, which provides payment and settlement services in Arab and international currencies, noting that the "Bunni" platform enjoys wide international acceptance and has become a model for compatibility with the directions of the Group of Twenty to promote The efficiency and integrity of cross-border payment and transfer transactions to serve the purposes of enhancing financial flows and supporting financial integrity and stability.

In conclusion, His Excellency Dr. Al-Hamidi renewed his gratitude to the King, Government and people of the Kingdom of Saudi Arabia for hosting the meeting, to the Custodian of the Two Holy Mosques and his trusted Crown Prince for the generous sponsorship of the meeting, and to His Excellency Dr. Fahd bin Abdullah Al Mubarak, Governor of the Central Bank of Saudi Arabia for his cooperation and his colleagues in the bank in preparing for the meeting and providing the requirements his success.

His Excellency also valued the efforts of the United Arab Emirates, the headquarters country of the Fund, in the great care and support it provides as the headquarters country of the Arab Monetary Fund, which undoubtedly contributes to the Fund's carrying out the tasks entrusted to it. His Excellency the Director General also thanked their Excellencies, Governors of Arab Central Banks and Monetary Institutions, for their support of the Fund and the Council's activities.

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Speech of His Excellency Dr. Abdul Rahman bin Abdullah Al Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, at the opening meeting of the forty-sixth session of the Board of Governors of Arab Central Banks and Monetary Institutions:

His Excellency Dr. Fahd bin Abdullah Al Mubarak, Governor of the Central Bank of Saudi Arabia,

His Excellency Dr. Marouane Abbasi, Governor of the Central Bank of Tunisia, Chairman of the current session of the Council,

Excellencies, Excellencies,

Ladies and gentlemen,

May God bless you with a good morning,

I am pleased to speak to your honorable assembly on the occasion of the annual meeting of the forty-sixth session of the Council of Governors of Arab Central Banks and Monetary Institutions. At the beginning of my speech, I would like to extend my sincere thanks and gratitude to the Kingdom of Saudi Arabia, the King, the government and the people for hosting this important Arab economic, financial and banking forum. He also expressed sincere gratitude and gratitude to the Custodian of the Two Holy Mosques and his trusted Crown Prince for kindly sponsoring the meeting. Of course, on this occasion, I cannot fail to express my sincere appreciation to His Excellency Dr. Fahd bin Abdullah Al Mubarak, Governor of the Central Bank of Saudi Arabia for his generous initiative in calling for hosting the meeting and for his great contributions to the work of the Council, and thanks to his colleagues in the Central Bank of Saudi Arabia for their cooperation and efforts in preparing and organizing to ensure the success of This important meeting.

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Your Excellencies,

Dear Sisters and Brothers,

Expectations indicate that the global economy, according to recent estimates by international financial institutions, will achieve a growth rate of about 3.2 percent for 2022 and 2.9 percent for 2023, after those estimates were relatively optimistic at the beginning of the year, about 3.5 percent and 4.4 percent, respectively. This reduction in expectations reflects the state of uncertainty, the outcome of global developments, and the possibility of the global economy entering a phase of so-called stagflation. The latest estimates indicate a rise in the global inflation rate, to reach about 8.3 percent in 2022 and 5.7 percent in 2023, compared to 3.2 percent and 4.7 percent in 2020 and 2021, respectively.

It is no secret to you that the global economy is also witnessing developments and the attendant challenges related to food security, rapid rise in commodity prices and fluctuations in global supply chains and their impact on inflation rates, which resulted in a re-evaluation of the global economy.

As you know, the inflationary wave is making it difficult for the trends and options available to central banks around the world, which are still struggling to support economic growth, which is already affected by the repercussions and developments of the Corona pandemic. In this context, central banks were forced to adopt contractionary monetary policies at a time when economic recovery is still dependent on monetary stimulus in light of the inability of governments, especially in developing countries, to continue support using fiscal policy tools, because of the repercussions on fiscal discipline. and financial sustainability.

Although gradually raising interest rates on monetary policy tools is a natural and expected thing to address inflation, especially since interest rates were already low, it requires a holistic view of policies that achieve balance to stimulate economic growth on the one hand, reduce inflation and maintain the safety and stability of the sector finance on the other hand. Therefore, the central banks’ actions by following a prudent monetary policy with coordination with the fiscal and macroprudential policy and the adoption of government programs to support the various economic sectors represent an important way to maintain economic balance, taking into account the risks and challenges of the current global developments.

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Your Excellencies,

Dear Sisters and Brothers,

Perhaps it is appropriate to commend, in this context, the efforts of Arab central banks in controlling the conditions of the financial and banking sector and enhancing its safety, as it is not expected that there will be a fundamental impact of high interest rates on monetary policy tools, on the ability of the Arab banking sector to lend, as safety indicators revealed the financial adequacy of the Arab countries indicates that the levels of capital and liquidity adequacy are high in the Arab banking sector and are higher than the minimum limits established by Basel III decisions)

Where the average capital adequacy ratio for the banking sector in the Arab countries was about 17.8 percent by the end of 2021, while the ratio of liquid assets to the total assets of this sector reached about 32.7 percent at the end of the same period. It was also added that the ratio of coverage of loan provisions to the total non-performing loans of Arab banks amounted to about 91.1 percent at the end of 2021.

These good figures reflect the efforts undertaken and undertaken by Arab central banks to enhance the robustness and safety of the banking sector performance indicators, and to develop legislation, policies and precautionary measures. 

In this context, the Arab central banks, during the Corona pandemic, reduced the margin of the conservative capital, the liquidity coverage ratios, and the net stable financing to support monetary policy decisions and provide additional liquidity to the banking sector. Its studies have concluded that banks are able to submit to capital and liquidity adequacy requirements as they were applied before the pandemic, without prejudice to their role or affecting their liquidity levels, in light of the availability of sufficient time to meet the regulatory requirements for liquidity.  

Your Excellencies,

Dear Sisters and Brothers,

The estimates of the Arab Monetary Fund indicate that the growth paths in the Arab countries are currently affected by three main factors, including: developments related to the continuation of work with procedures, arrangements and financial packages to contain the repercussions resulting from the Corona pandemic, and the effects resulting from the current global developments on Arab economies, in addition to the expected path of macroeconomic policies. Especially monetary policy.

According to the estimates of the Arab Monetary Fund, the growth rate of Arab economies is expected to rise in 2022 to record about 5.4 percent, compared to the rate of 3.5 percent recorded in 2021, driven by many factors, foremost of which is the relative improvement in global demand levels, and high rates of the growth of the oil and gas sectors, and the continuation of Arab governments to adopt stimulus packages to support economic recovery. While the pace of economic growth for Arab countries is expected to decline in 2023, to record about 4.0 percent, in line with the decline in the global economic growth rate, the expected decline in commodity prices, and the impact of the gradual withdrawal from expansionary fiscal and monetary policies that support the aggregate demand side.

As you know, most Arab countries have been affected by global inflationary pressures as a result of many factors. According to the estimates of the Arab Monetary Fund, the inflation rate in the Arab countries as a group is expected to record a relatively high level during 2022 and 2023 at about 7.6 percent and 7.1 percent, respectively, in the continuation of the current international developments that lead to a continuous rise in the price level in the markets of basic materials and energy.  It is no secret to you that a number of Arab countries with lower levels of self-sufficiency have been more affected by the current global inflationary wave, which casts a shadow over food security challenges.

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Your Excellencies,

Dear Sisters and Brothers,

The Arab countries, like other countries at this stage, are facing economic challenges that require exerting a lot of effort and moving towards adopting policies that help support the requirements of achieving the desired economic growth and achieving levels of economic and social development that achieve the aspirations of peoples.

Perhaps the most important of these challenges, besides the relatively high rates of inflation, as we have mentioned, are constantly emerging challenges of unemployment in the Arab region, which records about 11.3 percent, which is almost double the global average according to the data of the World Bank. The biggest challenge in this context is the concentration of unemployment rates in the category of young people, as youth unemployment in the Arab region rises to 33.0 percent, compared to 15.6 percent for the global average of youth unemployment.  

On the other hand, the challenge of increasing debt rates in particular is also among the most important challenges facing our Arab economies in light of the rise in public debt levels in the wake of the pandemic, which amounted to about $ 756.2 billion, representing about 107.3 percent of GDP. For Arab borrowing countries at the end of 2021. The importance of containing the public debt tracks and enhancing its movement at sustainable levels, especially in the wake of the pressures imposed by the spread of the Corona pandemic on the financial conditions in Arab countries, is highlighted here. This requires a vigorous effort by the authorities in the Arab countries to fine-tune the considerations of continuing to support economic recovery, and considerations of restoring financial balances and moving towards more sustainable paths of public debt.

In addition, dealing with food security risks as a result of high food commodity prices and challenges in food supply chains, and the economic, financial and social repercussions in this regard.  

In addition to the above, there is an urgent need to enhance the ability of Arab economies to increase levels of economic resilience to meet any potential economic challenges. Perhaps the Arab countries' continuation of structural and institutional reforms is an urgent necessity dictated by the current economic developments more than ever. 

The economic structures of the Arab countries need to witness structural reforms that restore the role of major economic sectors such as the agriculture and industry sectors, which past and current experiences have proven the inevitability of their development to enhance national economic security, and increase the capacity of these two sectors to support output and employment, achieve food security, and increase levels of self-sufficiency in agricultural commodities. and industrial, in order to reduce the levels of dependence on imports, and waste of resources from foreign exchange to reduce the risks of exposure of Arab countries to any unfavorable shocks as a result of increased levels of dependence on the outside.

Institutional reforms also play an important role in the current stage with the aim of developing Arab business environments to enable the private sector to be an essential engine for growth and employment.  

On the other hand, the importance of Arab governments’ orientation towards accelerating the efforts of digital transformation and the transition towards a knowledge economy, as the lessons learned from the pandemic indicate that the countries that were able to quickly recover from the repercussions of the crisis, and to deal with its repercussions effectively and efficiently were represented in the Arab countries with higher levels of digital readiness. 

Perhaps a look at the contribution of the knowledge economy sectors to the gross domestic product of Arab countries, which ranges between 4 to 12 percent in Arab countries, shows a decrease in this percentage compared to the similar level recorded in many of the pioneering countries in this field, including China, for example, where it is estimated This percentage is about 36 percent.

In addition, the importance of intensifying efforts and developing policies and programs to confront the repercussions of climate change and the transition towards green and sustainable economy and finance, in line with the reality and needs of our Arab countries.

No less important than the above is the need to follow up efforts aimed at developing the financial sector in the Arab countries to support access to finance and financial services, develop local financial markets, and enhance regional financial integration. Enhancing access to finance and financial services for various economic sectors, geographical regions and groups of society, especially youth and females, agricultural and rural communities, and micro, small and medium enterprises, and accelerating the availability of financing for emerging projects, will contribute to unlocking great potential energies and creating increased job opportunities, which will reflect positively on the endeavors of Facing unemployment and supporting sustainable and comprehensive economic and social development.

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Your Excellencies,

Dear Sisters and Brothers,

Allow me to commend the great efforts made by the committees and work teams emanating from your esteemed council in addressing topics and issues of importance, developments and developments related to the priorities of Arab central banks, in a way that enhances the opportunities for exchanging expertise and experiences and transferring knowledge. 

You also note from the documents of this year's esteemed council meeting, the quality of important topics, papers and reports prepared by the committees and teams, which reflected the requirements of supporting financial stability, upgrading financial infrastructure, preparing for the recovery phase and supporting digital financial transformation, and the role and responsibilities of central banks in this framework. 

The meetings of the committees and teams received wide participation from regional and international financial and banking institutions and frameworks, led by the committees of the Bank for International Settlements, the Financial Stability Board, the International Monetary Fund, the World Bank and a number of global central banks.

Perhaps it is appropriate here to commend the remarkable progress in the fifth edition of the Financial Stability Report in the Arab States for the year 2022. The report included, in addition to the usual chapters on economic developments that have an impact on financial stability, and an analysis of the risks of the financial sector and the risks of the non-banking financial sector, a number of qualitative chapters dealing with: The real estate sector in the Arab countries, lessons learned from the emerging crisis of the Corona virus at the level of central bank policies, and developments in modern financial technologies and their impact on financial stability. 

The report concluded that the Arab banking sector, despite the challenges and risks, was stable and generally able to withstand shocks, in light of the sector's good levels of capital, asset quality, profitability and liquidity, which reflects the efforts of Arab central banks and monetary institutions.

It is noteworthy that the aggregate financial stability index of the Arab Monetary Fund, which is calculated in cooperation with the Financial Stability Task Force, rose to 0.526 points at the end of 2021 compared to 0.487 points at the end of 2020, due to the improvement of financial and economic indicators as a result of the efforts made by Arab countries to limit the repercussions of Corona pandemic, which reflected positively on financial stability.

I would also like to commend the activities of the Financial Inclusion Initiative for the Arab region. During 2021, the initiative implemented a series of capacity-building programs, and organized a number of high-level conferences, learning forums and developing methods and tools, in addition to knowledge products. There was a focus on environmental and social responsibility issues, supporting the development of microfinance services, as well as following up on digital financial transformation efforts.

In this context, I would like to commend the cooperation of Arab central banks and associations and unions of banks in Arab countries in reviving the activities of the Arab Financial Inclusion Day, which took place on April 27, 2022, under the slogan "The Importance of Social Responsibility for Financial and Banking Institutions in Promoting Financial Inclusion". 

Activities in the Arab countries highlighted the importance of promoting responsible financing and social responsibility for financial and banking institutions to serve sustainable development, as Arab central banks seek to develop frameworks that help adopt and apply these standards by their financial and banking institutions and urge them to develop services and products that enhance social and environmental responsibility.

 For its part, the Arab Monetary Fund is intensifying its efforts in providing advice and issuing many studies, reports and guides, to contribute to addressing priority issues, especially in terms of promoting responsible financing and social responsibility in Arab countries.

We look forward to next year’s events, which focus on the role of financial inclusion in supporting efforts to confront the repercussions of climate change on the financial sector, which is appropriate in light of the Arab region’s hosting of the next two versions of the Conference of the Parties to the United Nations Convention ( COP27 ) and ( COP28 ) in Sharm El-Sheikh and Abu Dhabi, respectively. .

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Your Excellencies,

Dear Sisters and Brothers,

The Arab Monetary Fund continued to respond quickly to the needs of Arab countries in light of the repercussions of the Corona pandemic. Efforts focused on carrying out the tasks in a way that could respond to the needs of member states and help them face various challenges, in terms of meeting borrowing requests as quickly as possible, as financial resources were provided to a number of member states in the form of new loans, or withdrawals on existing loans, to face the economic repercussions and current finances, by applying the fast-track framework to enable borrowing Member States to benefit from these resources as quickly as possible. In this regard, the total volume of resources provided by the Fund since 2020 until the end of the first half of 2022 amounted to about 2.25 billion US dollars.

On the other hand, the Fund continued its efforts in organizing consultative meetings, exchanging experiences and expertise, and preparing reports and studies on current developments and prospects for Arab economies in light of the new developments. The Fund organized a number of high-level meetings and workshops for Arab central banks, with the participation of many regional and international institutions and frameworks. With the aim of consulting on existing issues and priorities in Arab countries to support opportunities for financial stability.

Also, in response to current challenges and providing advice to member states, the Fund continued to issue a number of guides and guiding principles aimed at helping Arab countries adopt appropriate policies. The topics of supporting financial stability and promoting financial transformation have been discussed. Digital and addressing the repercussions of climate change are particularly important at this stage.

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Your Excellencies,

Dear Sisters and Brothers,

I am pleased to report that the Buna platform for Arab payments, whose establishment was completed by the Fund under the guidance, support and cooperation of Arab central banks, international financial institutions and global central banks, has today gained wide international acceptance and has become a model for compatibility with the directions of the Group of Twenty to enhance the efficiency and safety of payment and transfer transactions through Borders to serve the purposes of enhancing financial flows and supporting financial integrity and stability.

As you know, the Buna platform is 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 to send and receive inter-payments throughout the Arab region and abroad in a safe, reliable, affordable and highly effective manner. 

The Buna platform provides banks with modern payment solutions that comply with international standards and principles and international compliance requirements. 

The Buna platform contributes to enhancing opportunities for economic and financial integration in the Arab region and supporting investment links with trading partners in various continents.

 For information, 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. The platform has an integrated strategy to develop the services provided, starting with the instant payment services that are now being worked on, and continuing with trade finance services and cross-border money market transactions.

The platform offers payment and settlement services in Arab and international currencies, which now include the UAE dirham, the Saudi riyal, the Egyptian pound, the Jordanian dinar, the US dollar and the euro, in addition to Arab and Asian currencies that will be announced soon.

 There are currently contacts and consultations with about 220 banks, 60 of whom have completed the connection with the platform.

There is no doubt that the success of the "Bunni" platform in achieving its strategic objectives requires the support of the supervisory authorities, the participation of central banks, the promotion of building a network of banks and financial institutions linked to the platform, and the use of Arab currencies in inter-transfers. We look forward to your support to complete linking Arab banks and activate transfers through the platform, thus enhancing the benefit of the innovative services provided by the platform.  

Your Excellencies,

Dear Sisters and Brothers,

In conclusion, I renew my gratitude to the King, Government and people of the Kingdom of Saudi Arabia for hosting the meeting. I also renew my gratitude to the Custodian of the Two Holy Mosques and his trusted Crown Prince for the generous sponsorship of the meeting, and I cannot fail to renew my thanks to His Excellency Dr. Fahd bin Abdullah Al Mubarak, Governor of the Central Bank of Saudi Arabia, for his cooperation and his colleagues in preparing for the meeting and providing the requirements for its success. Also, on this occasion, I would like to thank the United Arab Emirates, the headquarters country of the Fund, for the great care and support it provides as the headquarters country of the Arab Monetary Fund, which undoubtedly contributes to the Fund's carrying out the tasks entrusted to it.

Finally, I also do not fail to thank their Excellencies and Governors of Arab Central Banks and Monetary Institutions for their continued support of the Fund and the activities of the esteemed Council, wishing our meeting today every success.

Peace, mercy and blessings of God.  LINK

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DoTalkToMe:  SIR Florida.I do not see debt debt jubilee in the article.
I do see currencies changing.
I do see people's lives changing if they own the right currencies.
Those who are unaware, will continue to remain unaware and will not be helped.
Please explain how you see debt jubilee for everyone  

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Sir:  IMO-It’s about to occur in very short order, the article basically says so if you read the whole thing. The debt system in place now ( being dismantled and almost completed ) has been the reason for this hardship the world has been enduring for far too long.

 It’s a slave system that enriches and empowers the select few and enslaves the rest of the people.

 Worthless paper money backed by promises, as country by country has its resources stolen by the few that calls themselves elite.

 In short, this system is dead and was buried with the queen today, so rejoice and celebrate the death of the system that enslaved the people!

Debt jubilee’s have been done in the past, history shows us that. The debt the world is in at this time could never be paid off as it was designed that way by some smart evil people.

Do a little looking into what countries are accumulating precious metals, all of them that have the ability too. A new better system is ready to emerge and all countries will have their own currency backed by precious metals and commodities ( even playing field ).

Even the so called elite are stock piling gold and silver while they can. Not sure how that is going to work out for them because the money they have was surly stolen from the people.     IMO-Get ready! 

Frank26 and KTFA Members Sunday PM 9-18-2022

KTFA:

Frank26:  "THOUSANDS UPON THOUSANDS INVEST IN IRAQ"............F26

The launch of the activities of the first Sulaimaniyah Forum for Investment and Economy

17th September, 2022

The activities of the first investment and economic forum were launched in Sulaymaniyah, on Saturday, to promote investment projects and attract investors to the province.

Shafaq News Agency correspondent said that the forum was launched in the presence of the Deputy Prime Minister of Kurdistan Regional Government, Qubad Talabani, and a number of government officials and foreign consulates in the region.

An official of the Sulaymaniyah Chamber of Commerce and Industry, Sirwan Muhammad, told Shafaq News Agency, "The aim of holding this forum is to further promote investment projects and build relations between the government and investment."

He added that "the forum was organized by the Better Investment Institute in cooperation with the local government in the Sulaymaniyah Governorate and the Sulaymaniyah Chamber of Commerce," noting that "the conference was attended by more than 1,000 local and foreign investors and will discuss obstacles to investment in Sulaymaniyah and the Kurdistan Region and ways to overcome them, and will discuss the position of the regional government on overcoming them. those problems."

He pointed out that "the situation in Iraq is not conducive to investment due to the instability of the political and economic conditions, but the situation here in Sulaymaniyah and the rest of the region's governorates is completely different. That is why we will work to encourage local and foreign investors to invest, which proves that Kurdistan and Sulaymaniyah are a conducive environment for investment."

Muhammad said, "In another aspect of the conference, it will be devoted to bringing together the government and investors to discuss investment development and strengthening the economy of the Kurdistan Region."  LINK

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Frank26:  "THE IQD PREPARES TO FLOAT AND THE 3 RESERVES IS JUST THE TIP OF THE ICEBERG'S MONETARY REFORM"........F26

 Economist for / NINA /: The Central Bank of Iraq has three reserves to serve the requirements of monetary stability and development

Saturday 17 September 2022 

The economic expert, Jalil Al-Lami, confirmed that the Central Bank of Iraq has three reserves to serve the requirements of monetary stability and development.

He told the National Iraqi News Agency ( NINA ) that the central bank is responsible for managing the country's foreign cash reserves, as the central bank, within the framework of this task, influences the credit by controlling the movement of capital inflows and abroad and providing foreign exchange to serve the requirements of monetary stability and economic development.

Al-Lami added: This reserve consists of: Foreign exchange papers: represented in current and fixed deposits in the main international currencies and government bonds held by the resident country in foreign currencies for the benefit of the country over other countries. Which is estimated at more than (85) billion dollars. Gold: It is the state’s reserve, which is in the form of bullion or coins in the vaults of the International Monetary Fund.

He explained: As for the third reserve, it is the special drawing rights: it is the new reserve and it is used to meet the deficit in the country's traditional reserves and drawing rights are granted to each of the member states of the International Monetary Fund. So that the country's share is proportional to the size of that country in the International Monetary Fund.

Al-Lami continued: These rights are used to settle payments between member countries of the International Monetary Fund. Therefore, central banks, including Iraq, seek to buy quantities of gold from time to time. The most recent of which is Iraq’s purchase of a new amount of gold, amounting to approximately (34) tons, bringing Iraq’s balance to (134,4) and thus achieving an increase rate of (35%) on the Iraqi stockpile, which made its classification become the fourth Arab and thirty-three globally. This increase is within the framework of a strategy The Central Bank to manage its assets in order to achieve the highest levels of stability and the ability to face local and international economic changes.

The Gold Promise: One of the most important assets held by central banks and international financial institutions. A haven from in conditions of uncertainty. Because of its acceptance at the international level.

The Central Bank had announced a rise in foreign reserves to more than (85) billion US dollars.

And the bank indicated in a statement that its foreign reserves amounted to more than (85) billion US dollars, which is the highest level achieved by the Central Bank since 2003.

He continued that gold reserves also exceeded (130.4) tons, worth (7) billion dollars, bringing Iraq to 30th place globally and 4th in the Arab world.  LINK

(NOTICE IRAQ TALKS WITH AUTHORITY ON THE REFORMS -F26)

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Samson:  Barzani visits London to attend Queen Elizabeth II's funeral

09/18/2022 14:43:31

The President of the Kurdistan Region, Nechirvan Barzani, will visit the capital, London, today, Sunday, in response to an official invitation from the British government to participate in the farewell ceremony for Queen Elizabeth II.

A statement issued by the Presidency of the Territory stated that during this visit, Barzani will participate, along with leaders and leaders of world countries, in the farewell ceremony of the late Queen of the United Kingdom.

The statement added that the president of the region will attend seminars and meetings that will be held over the two days designated for these official ceremonies.  LINK

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Samson:  Al-Kazemi carries 5 “announced” files to New York, and “Al-Ghad Press” looks at the sixth

18th September, 2022

Two Cabinet officials revealed the agenda of Prime Minister Mustafa Al-Kazemi's visit to the United States scheduled for the end of this month, while "Al-Ghad Press" learned about the "most prominent" file that Al-Kazemi will carry there

The two officials said that "Al-Kazemi will head a high-ranking ministerial delegation to New York, to participate in the meetings of the United Nations General Assembly at the end of this month, where he will also hold meetings with a number of world leaders, to discuss many political, security and economic files, according to the newspaper, "Al-Araby Al-Jadeed

And the two officials indicated that "the political crisis in the country will top Al-Kazemi's discussions with world leaders, led by US President Joe Biden, in addition to the file of the war on ISIS, the American presence in Iraq, and the work of the NATO military mission within the program to develop Iraq's military capabilities, which began the mission last year

One of the officials confirmed that Al-Kazemi "will also present Iraq's role in mediating between the Iranians and the Saudis," while the other indicated that "Al-Kazemi will discuss the current political crisis in Iraq, after armed confrontations in the Green Zone and international concern about the possibility of its recurrence again

In this context, an official source revealed to "Al-Ghad Press", "the most important file for Al-Kazemi during his upcoming visit to the United States," noting that the caretaker prime minister "will present himself as a mediator to end the political rift, and make pledges not to repeat the events of Al-Khadra, in exchange for returning assigned to head the government

It is worth noting that Al-Kazemi will replace the President of the Republic, Barham Salih, at the meetings of the United Nations General Assembly at the end of this month, without one of them providing an explanation for the reason for the “replacement  LINK

Samson:   Al-Kazemi will fly to America tomorrow

18th September, 2022

An informed government source said that Iraqi Prime Minister Mustafa Al-Kazemi will travel to the United States of America tomorrow, Monday.

The source told Shafaq News Agency, that Al-Kazemi will travel tomorrow, Monday, to the American city of New York, in order to participate in the meeting of the United Nations General Assembly. 

He explained that during this visit, Al-Kazemi will hold meetings with a number of world leaders, led by US President Joe Biden. 

On the sixth of this September, an informed government source revealed that Al-Kazemi will go to America "soon" in order to participate in the meetings of the United Nations General Assembly, as an alternative to the President of the Republic, Barham Salih.

And about the reason for Al-Kazemi’s departure instead of Saleh, the source said that to discuss political developments and repercussions on the security and economic level, and the opinion of the international community on this crisis, especially that Al-Kazemi will meet with senior officials in the world.  LINK

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Samson:  With a political agreement, Al-Kazemi is close to staying at the head of the government

18th September, 2022
An official source revealed, today, Sunday, a close agreement to keep Prime Minister Mustafa Al-Kazemi as prime minister until early parliamentary elections are held.

The source said in an interview with "Mawazine News" that "political forces, including the Sadrist movement and Sunni forces, are close to reaching an agreement to keep Al-Kazemi as prime minister."

He added, "The Kurdish and Sunni parties, the Sadrist movement, and some framework forces, with Al-Kazemi staying, until early elections are held, provided that the election law be amended and the commission changed."  LINK

YoungSC:  As Frank had always stated, Kezemi is not going anywhere