KTFA Members "News and Views" Sunday 6-25-2023

KTFA:

Clare:  Justice: Publication of the Budget Law in the Official Gazette tomorrow

6/25/2023

The Ministry of Justice announced the publication of the financial budget law in the (official) Iraqi Gazette, tomorrow, Monday.

She indicated that the budget law will enter into force on January 1, 2023.

It is noteworthy that the House of Representatives approved the dawn of the 12th of June, the budget law, while the President of the Republic approved it on the 21st of the same month. LINK

Turk182:  HCL will become Official immediately upon Gazette Posting.  When does the CBI Flip the Switch?  Moments before publication or Immediately after?  

Scarlett10:  That is the biggest question. But all I know is that we are really close. This week looks very promising.

Game of Patience:  The HCL is still an UN-APPROVED Reform Law, needing to be Approved. 

YoungSC:  FA# 2979... The HCL is in the budget imo.     Legal expert Ali Al-Tamimi confirmed, on Tuesday, that the oil agreement between Baghdad and the Kurdistan region will be implemented within the budget items as soon as the law is published in the Official Gazette, stressing that the Democratic Party will not challenge the amended budget paragraphs

Game of Patience:  Does publishing the budget do something to the value of the currency?

ButchB:  IMO…publishing it in the Gazette, makes it official and gives it a starting point with all the new laws… but in a nutshell, just the posting of it does nothing. It merely makes it official for not only Iraqis but the world.

In my opinion, let’s see how should I phrase this?… the value of the dinar, and the publishing in the Gazette is no shorter than having a waterproof wick that has already been lit.

You see at this point in my opinion is the time in the game where you show em !
Let’s see what you’re holding because this is about to blow up  In my humble opinion-We are now at the no stopping point. The fuse most definitely has been lit.

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Clare:  With the Eid approaching and the markets booming, the dollar is flying in the sky of Baghdad

6/24/2023

The main stock exchange in the capital, Baghdad, closed today, Sunday, on the rise in the dollar prices against the Iraqi dinar.

The price of the dollar, with the closure of the Al-Kifah and Al-Harithiya stock exchanges, reached 147,550 dollars against 100 dollars, while the dollar prices this morning were 147,100 dinars against 100 dollars.

That the buying and selling prices in exchange shops in the local markets in Baghdad rose, as the selling price reached 148,500 Iraqi dinars, while the purchase price reached 146,500 dinars for every 100 dollars.

The pace of demand for clothes and foodstuffs, including meat, is increasing in Iraq, especially in the capital, Baghdad, significantly, with the approach of Eid Al-Adha. The markets are not as usual every year, despite the crowd of pedestrians in their streets, but in Iraq they are witnessing a remarkable state of stagnation and lack of shopping with the advent of Eid Al-Fitr.

And the Prime Minister, Muhammad Shia’a Al-Sudani, directed that the blessed Eid Al-Adha holiday be from Tuesday, corresponding to June 27, 2023, until Sunday, corresponding to July 2, 2023. Provided that official working hours in all government institutions will resume on Monday, corresponding to 7/3/2023.

The reasons for this are multiple, including the high prices of materials and commodities, and the significant decline in the purchasing power of employees and those with daily wages and limited incomes. This holiday also represents a new challenge for the poor and low-income class, in addition to the instability of prices and the stability of the price of the dollar in the parallel market.   LINK

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Clare:  About 20 million dollars, the volume of exchange between Iraq and Ethiopia

6/25/2023

The trade map website, which provides a trade map of countries (exports and imports), reported on Sunday that the volume of trade exchange between Iraq and Ethiopia reached about $20 million during the past year 2022.

 According to the site's statistic, seen by Shafak News Agency, "The trade exchange between Iraq and Ethiopia during the year 2022 amounted to 19.598 million dollars, of which Iraq's exports accounted for 95%."

She added, "Iraq exported to Ethiopia during the year 2022 the amount of 7 commodities with a financial value of $18.719 million, the most prominent of which were mineral fuels and mineral oils with a value of $15.774 million. It also exported various chemical products with a value of $1.479 million, and fertilizers with a value of $566 thousand."

She indicated that "Ethiopia exported 9 commodities to Iraq with a financial value of $879,000, the most prominent of which was plastic at $611,000, coffee and tea at a value of $232,000, live trees and other plants and bulbs at a value of $26,000."

Ethiopia, or as it was called Abyssinia in the past, is a landlocked country located in the Horn of Africa, and its capital is Addis Ababa. Ethiopia's total area is 1.100 million square kilometers and its population is more than 109 million.    LINK

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Clare:  Iraq reduces its holdings of US bonds to more than $6 billion

6/25/2023

The US Treasury Department announced, on Sunday, that Iraq has reduced its holdings of US bonds to more than $6 billion during the first four months of 2023.

The treasury said in its latest table, seen by Shafaq News agency, that "Iraq reduced its holdings of bonds during those months, starting from January to April, by $6.4 billion, to reach the 36th rank among the 38 countries with the largest holders of US treasury bonds." listed in the table of countries.

And she added, "Iraq's possession of US bonds in January amounted to 41.2 billion dollars, to decrease to 40.7 billion dollars in February, to decrease to 39.3 billion dollars in March, and to decline again in April to 34.8 billion dollars," indicating that "Iraq's possession of US bonds is in The month of January 2022 amounted to 40.8 billion dollars.

She pointed out that "Iraq was the fourth largest Arab country in the largest possession of US bonds, after Saudi Arabia, the UAE and Kuwait."   LINK

Clare:  The forgotten treasures of Anbar.. What if you invested?

6/25/2023

Anbar Governorate has a huge wealth of natural resources, which, if invested, would constitute an important economic resource, and would contribute to raising Iraq's levels significantly.

Anbar Governorate is located to the west of Iraq, and its area is (138,500) square kilometers, or about 32% of the total area of ​​Iraq, while its population is (1.600) million people, according to the 2014 census.

Al-Anbar Province is bordered to the north by the provinces of Salah al-Din and Nineveh, Syria to the northwest, Jordan to the west, Baghdad Province to the east, Saudi Arabia to the south, and Karbala and Najaf provinces to the southeast.

Forgotten wealth

Anbar province contains natural resources of gas and oil in large quantities, in addition to the many mineral resources such as gold, phosphate, iron, uranium, sulfur, silver, bitumen, sand, gravel, and others.

As for natural gas, it is the largest reserve in Iraq at about 53 trillion cubic feet, which meets the need for what Iraq imports from Iranian gas for about 3 thousand days, i.e. more than 8 years, while its financial value is estimated at more than 25 billion dollars.

The phosphate reserves in the Anbar desert are estimated at more than 10 billion tons, with a value of 1.5 trillion dollars, and constitute 9% of the total global reserves of this substance, which makes Iraq the second in the world in phosphate reserves after Morocco.

As for the reserves of crude oil in the Anbar desert, it is estimated at about 300 billion barrels, which is sufficient for export according to the current capacity for a period of 273 years. According to estimates, the reserves of iron metal are about 60 million tons.

In addition to other materials such as quartz sand, limestone, dolomite stone, kaolin stone, flint clay, porcelainite, bauxite, quartzite, black sand, montmorillonite clay, and atpelgate clay, in addition to other wealth whose size or reserves in the province have not been specified. precisely.

With regard to the agricultural aspect, the Anbar Governorate has 2.5 million palm trees and vast agricultural lands, and among the most important agricultural crops there are wheat, spring and autumn potatoes, then wheat, barley, yellow corn, and a group of vegetables, onions and fodder, and its agriculture depends on irrigation or on wells, springs and rain .

In order to exploit these enormous wealth, a number of important projects were previously established in the governorate, such as the Haditha dam and its hydroelectric station, the Diesel project, the glass and ceramics factory, and the cement factory in Kubaisa.

In addition, the Heet thermal station, which is the gas export station from the Akkas field, the oil export from the Akashat fields, the General Phosphate Company, the wet Euphrates Canal project, which includes Habbaniya Lake and part of the Tharthar Lake project.

no investment

Although Anbar Province is rich in resources not found in other Iraqi provinces, it suffers from a lack of investment in it, according to the head of the Geology Department at Anbar University, Dr. Abd Salih Fayyad.

Fayyad explained to Shafaq News agency, "Al-Qaim phosphate plant used to produce the best types of fertilizers, and it used to be exported from abroad, but now it is completely idle, although the existing reserves operate 10 phosphate plants in Iraq, and cement factories can also be established with them, because the layers What is above phosphate is suitable for cement and other chemical industries. 

He added, "The purest types of glass sand are available in Anbar province, in which the percentage of silica exceeds 98 percent. It can be used in the manufacture of crystal, electronics and many other industries."

Fayyad pointed out, "The availability of excellent types of kaolin, both colored and white, which was used in the manufacture of ceramics and other industries, in addition to the presence of excellent types of sand that contain large quantities of heavy metals that can be used in strategic industries."

He added, "There are also large reserves of limestone, which is used as a basic material in the cement industry, which may accommodate dozens of factories, in addition to the spread of materials that are used in the construction industries in large quantities in the governorate."

Regarding medical tourism, the head of the Geology Department at the University of Anbar pointed out, "The sulfur springs in Kubaisa and Haditha, which can be used as tourist resorts for medical treatments, in addition to other areas characterized by their beauty and picturesque nature that are ripe for investment."

Despite the availability of all these resources, they are unused and idle, and if they are exploited in a correct, thoughtful and economical manner, they will contribute to the employment of thousands of manpower, and at the same time end imports from abroad 

investment wheel

For his part, Suleiman al-Jumaili, an economist from Anbar province, stressed the need for the government to "start investing in the rich natural resources in the Anbar desert, whether through internal or external investment," stressing that "investment is of great importance in pushing the economy forward and supplying the general budget with funds." ".

And Al-Jumaili indicated, to the agency, that "the investment will lead to the opening of new factories, factories, roads and projects," noting that "the petrochemical plant in Al-Qaim, if it is used in the right way, will be the first in the Middle East, as is the case with the Crutch field."

Regarding agricultural resources, he noted that "the Anbar desert is arable land, and if these areas are exploited by industry and agriculture, Iraq will be one of the first countries in the Middle East to produce and export."   

Al-Jumaili said, "The exploitation of natural resources will make Anbar an industrial and commercial city, especially since it has borders and outlets with three countries: Saudi Arabia (the Red Sea), Jordan (the Arabian Gulf), and Syria (the Mediterranean)."

Boring routine

In turn, the advisor to the Anbar governor for energy affairs, Aziz al-Tarmouz, stated that "the wealth belongs to the sovereign ministries, and it cannot be disposed of, in light of the existence of a boring routine that impedes re-work."

Al-Tarmouz said, for example, during his interview with the Agency, "The wealth of glass is idle, as well as phosphate," explaining that "the phosphate factory included 8 factories, and all of them have been suspended since 1976."

The local official pointed out that in the previous system, "20% of the Ministry of Finance's revenues came from the revenues of phosphate and sulfur factories, and now both are out of order, only gas and in one field."

Al-Tarmouz concluded by saying: There is cooperation between the Ministry of Oil and the local government in Anbar Governorate for the "optimal utilization of the gas and oil wealth," pointing out that "there are investment opportunities for a number of fields in the province, while three fields are still under construction and may enter service within coming years.” LINK

Iraq News Posted by Clare at KTFA Thursday 6-22-2023

KTFA:

Clare:  Source: The Budget Law has reached Justice and will be published in the Official Gazette next week

6/22/2023

An informed source in the Ministry of Justice revealed that the financial budget law had reached the ministry.

The source stated in a press statement that: "The budget law has reached the Ministry of Justice and will be published in the Official Gazette (Al-Waqa'eq) next Monday, June 26, to enter into force."

The House of Representatives voted on the dawn of June 12 on the Federal General Budget Law of the Republic of Iraq for the years (2025, 2024, 2023) in total.
Yesterday, Wednesday, the President of the Republic, Abdul Latif Jamal Rashid, approved the budget.    LINK

Clare:  Parliamentary Finance: The instructions of the budget law will be issued after Eid Al-Adha

6/22/2023

Today, Thursday, the Parliamentary Finance Committee announced the date for publishing the budget law instructions.

A member of the Parliamentary Finance Committee, Mueen Al-Kazemi, said, in a statement followed by Mawazine News, that "it is expected that the budget law will be published in the Official Gazette next Sunday."

Al-Kazemi added, "The instructions of the budget law will be issued after the blessed Eid Al-Adha."  LINK

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Clare:  Chairman of the Integrity Commission: Recover 15 billion dinars from one of the departments of the Ministry of Commerce

6/22/2023

The head of the Integrity Commission, Judge Haider Hanoun, announced the recovery of 15 billion dinars from one of the departments of the Ministry of Commerce.

Hanoun said in a press conference, "We will hold accountable all those who seek to undermine success and return to the days of corruption," announcing, "The recovery of 15 billion dinars from one of the departments of the Ministry of Commerce." Regarding the Abu Ragheef committee, Hanoun said: "We have formed two investigative committees in this regard, one of which concerns the cooperating employees of the commission.

" With Abu Ragheef.”

Regarding the inflation of funds, Hanoun explained that “the law stipulates a fine equal to the amount of inflation,” calling on citizens to “cooperate and submit files related to corruption.” He pointed out

that “some institutions prevent the oversight authorities from accessing to know the fate of state funds,” stressing That "the corruption suppression data is part of corruption."   LINK

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Clcare:  INTEGRITY: RECOVERING MORE THAN 40 BILLION DINARS FROM A CORRUPTION FILE BELONGING TO A CAPTAIN IN THE MINISTRY OF DEFENSE

6/22/2023   Baghdad 

Today, Thursday, the Integrity Commission announced the seizure of inflation of more than 40 billion dinars, with the money of a captain in the Ministry of Defense.

The head of the commission, Judge Haider Hanoun, said in a press conference followed by the National News Center: “The commission seized inflation of more than 40 billion dinars with money belonging to a captain in the Ministry of Defense.”

He stressed that "other files will be presented regarding the inflation of funds in the coming days."   LINK

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Clare:  Masrour Barzani: Any new project must have 75 percent of its workers from the people of Kurdistan

6/22/2023

The Prime Minister of Kurdistan Region, Masrour Barzani opened, on Thursday, a cement plant in the city of Erbil, and stressed that any new project must have 75 percent of its workers from the people of the region.

Masrour Barzani said in a speech he delivered during his participation in the opening ceremony of the factory, which was attended by Shafaq News Agency, "This factory is set to become one of the most important factories in Kurdistan Region, and it will have an important role in developing the reconstruction process in the region."

He added, "This factory will provide hundreds of job opportunities for young people, and certainly any project that opens in Kurdistan must have 75 percent of its workers from the people of the region and train local workers and engineers to raise their level."

Barzani added, "The Kurdistan Regional Government, in the context of diversifying sources of economic income, pays great attention to the industrial and agricultural sectors, as our region includes a lot of raw materials and can be a basis for building projects."

Barzani pointed out that "the bulk of the products in the region's markets are imported, and these products can be local, which will contribute to reviving the industrial sector and provide job opportunities," stressing that "the regional government is ready to do what is necessary in this regard."    LINK

Wednesday Night KTFA CC "I Invite You To Sit on My Blue Couch" 6-21-2023

KTFA

Wednesday Night Conference Call

Frank26……6-21-23 …..I INVITE YOU TO SIT ON MY BLUE COUCH

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

Frank’s team is Walkingstick, Eddie in Iraq and guests

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=BYr1k8b32J4

KTFA Members "News and Views" Wednesday 6-21-2023

KTFA:

Clare:  The President of the Republic ratifies the Federal Budget Law

6/21/2023

Today, Wednesday, June 21, 2023, the President of the Republic, Abd al-Latif Jamal Rashid, ratified the federal public financial budget law.

Rashid stressed that approving and approving the budget is a turning point for the government to implement its program, which includes securing the necessary needs of citizens, providing basic services such as health and education, rehabilitating infrastructure and embarking on vital and strategic projects that will reflect positively on the reality of the daily life of citizens.

He pointed out the need to rationalize government spending, preserve public money, and develop and diversify the sources of the economy at a time when the country is facing economic and environmental challenges.

The President of the Republic also praised the efforts made to approve the budget from all parties, taking into account the important operational and investment aspects, and fairness to low-income groups, in a way that achieves social justice.

On June 12, the Iraqi parliament voted on the financial budget for the three years (2023-2024-2025), with a value of 198.9 trillion Iraqi dinars ($153 billion) for each year.    LINK

Turk182:  Does this mean we now move forward to posting in the Gazette ?

Clare:  IT IS LAW NOW THAT THE PRES. HAS SIGNED IT.  THEY WILL GET IT IN THE GAZETTE. THAT IS JUST A FORMALITY... IMO

Ryan1216:  Great news! We’re so close! IMO  

Turk182:  Wonder why the CBI hasn't jumped all over this, and flipped the switch already?  Thought that is all they were waiting for? 

Zeeman:  Turk this is good news now  the big question we are all waiting for will the cbi do it now or in the future?

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Clare:  THE PRESIDENT OF THE REPUBLIC STRESSES THE IMPORTANCE OF MAKING BAGHDAD AN INVESTMENT DESTINATION

6/21/2023

President of the Republic Abdul Latif Rashid stressed, on Wednesday, the importance of working to make the capital, Baghdad, a promising investment destination for investors.

And the Presidency of the Republic said in a statement received by the National News Center: “The President of the Republic, Abd al-Latif Jamal Rashid, received, today, Wednesday, the head of the Baghdad Investment Commission, Hassan Jamil.”

During the meeting, according to the statement, "a number of projects to be implemented in the capital, Baghdad, were discussed, where the president stressed the great task of the Baghdad Investment Commission to find opportunities for investment cooperation with sober companies."

The President of the Republic referred to "the importance of working to make the capital, Baghdad, a promising investment destination for investors, by building bridges of trust and cooperation in various sectors."

For his part, Jamil stressed, “The commission is keen to work diligently and leave a clear imprint in the field of investment in the capital, Baghdad, creating many job opportunities, introducing modern technology in building cities and residential complexes, and exchanging experiences with developed countries.”  LINK

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Clare:  The Integrity Commission arrests 46 owners of exchange companies on charges of currency manipulation

6/21/2023

The Federal Integrity Authority stated, on Wednesday, that its teams managed to seize 46 accused owners of private exchange companies. Against the backdrop of manipulation, forgery, and circumvention of the platform system for selling foreign currency.

The investigations department of the commission, speaking of the arrest operations it carried out according to judicial notes, indicated that it had formed teams in the directorates and offices of the commission's investigations in Baghdad and the provinces. To investigate and audit information received by it that includes some private exchange companies committing fraud and violations; To circumvent the platform system approved by the Central Bank of Iraq to withdraw foreign currency and sell it on the black market.

The department continued that its teams were able to launch an inspection campaign, and after investigations, investigations and audits, they overthrew (46) of the owners of money changers. Because they used the passports of citizens and uploaded them to the platform system approved by the Central Bank, and withdrew an amount of (2000) US dollars for each passport without the knowledge or approval of the holder of the passport and with a forged travel ticket, pointing to the absence of the customer’s documents and his signature on the form for disbursing the amount.

The department also indicated that the arrested were distributed among several governorates, where (20) of them were seized in the capital, Baghdad, and (8) in Basra, while (7) accused were arrested in Wasit, while the number of owners of private exchange companies who were seized reached In each of Maysan, Anbar, Muthanna, Najaf and Diwaniyah, there are two accused in each of them, and one accused in Babil governorate.

And she added that the teams were also able to seize dozens of transactions and passport records of private exchange companies, which showed that there were no signatures for the customer to receive the amounts in the records or transactions, warning that some of the owners of the transactions denied receiving the amounts, after they were contacted by the authority’s teams.

The accused, accompanied by the exhibits and the arrest reports, were taken to the judges of the investigation courts specialized in hearing cases of integrity. Those who decided to arrest according to different legal articles, while the judge of the Second Karkh Investigation Court decided to assign the Commission’s Investigation Department to form an investigative committee to conduct an administrative investigation into the procedures of the Central Bank of Iraq by following up the work of some private exchange companies.

The judge also decided to assign the aforementioned investigative committee to conduct investigations and clarify the shortcomings by checking the disbursement of money according to the tickets and the first passports seized by the commission and which it started authoring, according to the Integrity Commission.    LINK

Monday Night KTFA CC "Waiting in Line" 6-1-9-2023

KTFA

Monday Night Conference Call

Frank 26…..6-19-23……..WAITING IN LINE

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

Frank’s team is Walkingstick, Eddie in Iraq and guests

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=u3WrXNZRezc

KTFA Members "News and Views" Thursday 6-15-2023

KTFA:

Turk182:  June 15th 2023 - Here we are "Mid-Month"

Has it been confirmed that the New Currency is ACTIVE in the ATMs as rumored they would be earlier this week?  Can someone share Photos of same if so?

Has the President signed the Budget? is it ready for publication is Saturday's edition of the Gazette?

None of this is adding up?  Iraq has NEVER had a 3-Year Budget Passed thru Parliament in their history.  It took them 6+Months to finally get it thru & passed.  WHY is the President now Slow Walking this thing?  What benefit is there for this delay to "rubber stamping" this thing?

The Iraqi People have waited YEARS for this to happen, yet here we are at the final end, and now it is being stonewalled by lack of final signature?

Turk182 cont……It was mentioned last night on the call, about the next "2-Months"?  Not exactly sure what that was alluding to, but clarification from the source would be helpful.  Two More Months for what?  

Within the next 24-Hours, Iraq is to host a major conference with delegations from all over the World. All with a worthless currency.  

This Budget should have been SIGNED the instant it hit the President's Desk 2-Days ago.  Why is it being slow walked? Why has it not been signed?

OlLar:  There is an article from Jamal Cougar today saying the Budget will be automatically approved within 15 days of the vote, IMO the Rate change will happen right before the end of June, as Shabbibi and Turki both said the first of the year and middle of the year are the best time to change the rate , not the only time , but the best time because of accounting

Clare:  THAT'S THEIR LAW IT IS NOTHING NEW ...WE ALL KNOW THIS ALREADY AND THAT IS ONLY IF NOT SIGNED BY THE PRESIDENT...IT MAY BE SIGNED ALREADY AND NOT PUBLIC IMO... WE SHALL SEE

Zeeman:  question since the first president is away why cannot the second  or third president sign the budget so it goes to the gazzette?  

Turk182:  Excellent Question Brother Zeeman!  IF it's NOT in the Gazette this coming Saturday (06/17/2023) - then don't expect it being published in the Gazette until the Wednesday (06/28/2023) Edition.  Such an Important/Life Changing Budget for the People of Iraq, and ALL the President's decide to take a trip out of the Country at the same time.  Very Strange Timing.

Clare:  PUBLICATIONS CAN COME OUT AT ANY TIME THEY WANT.   HERE IS THE HISTORY OF SOME OF THE PUBLICATIONS.  LOOK AT THE DATE AND DAYS OF WEEK.  THEY ARE ALL DIFFERENT DAYS...   https://moj.gov.iq/view.7201/

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Clare:  BROUGHT FORWARD.... FROM 6/13 

 A representative source for Al Furat News: Sending the budget to the Presidency of the Republic today

6/13/2023

A representative source revealed the date of sending the tripartite financial budget bill to the Presidency of the Republic.

The source told {Euphrates News} agency that: "The general budget for the year 2023 will be sent to the Presidency of the Republic today for the purpose of approving it within 15 days, after which it will be published in the Official Gazette to be effective."

And the House of Representatives, at dawn yesterday, Monday, approved the draft federal budget law for the fiscal years 2023-2024-2025, after more than 4 days of holding sessions since last Thursday.

The value of the current year’s budget is 197 trillion and 828 billion dinars (about 152.2 billion dollars), with a total deficit of 63 trillion dinars (48.3 billion dollars), while the items of the 2023 and 2024 budgets have not been published.

 For his part, Prime Minister Muhammad Shia al-Sudani confirmed, in a statement today, that "the government will work to review the items that have been amended in the budget and study the extent of their conformity with the government's vision and objectives approved in the ministerial curriculum approved by Parliament."

Raghad Daham    LINK

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Paulette:  IMO........Rashid is still out of Iraq - Geneva today

The President in the past takes 7-10 days typically so that the budget and the procedure passing it can be extensively reviewed to ensure all is proper

The CBI will want to see Rashid ratify it since he is a Kurd this will be symbolic of Kurdish acceptance.

The PUK is happy, the KDP is not.  However, the KDP cannot do anything about it as Article 15-17 is in accordance with the relatively recent court decisions.  Their biggest victory is that Article 15-17 will not be retroactive to 1/1 absent a future contrary legal opinion ...

The IBBC is an Annual conference.  The Iraq Britain Business Council hosts this in London at The Mansion House.  Alaq is no longer on the speaker list.  Hopefully, it is because he is too busy at home.

ALL is GOOD as of today.  Look at all they have and are putting in place just this year.  I like this window going into July for something to change.   However, stay grounded as we really do not know.  in 2014, family members were excommunicated for suggesting that it may not happen in that January.  Stay grounded!!!  We know they have plans to change their currency and ultimately, they need to RI their currency.  Whether 2 hours, 2 weeks, 2 months........, a change is coming

 I do have concern about the current MCP in Iraq which would be out of compliance with Article 8.  Based on Frank's info, my understanding is it no longer matters as they are well past that.

Eid Al-Ada will be over two weeks from now.........  I recall Shabs saying "....after Eid, before the New Year....".  This timing makes July 4th weekend pretty intriguing.

All IMO........

Clare:  Approval of the economic feasibility study for the development project.. $100 billion investments

6/15/2023   Economy

The Ministry of Transport announced the conclusion of the activities of the technical committees of the development road project, while revealing the approval of the economic feasibility study prepared by the Italian consulting company on the vital project.

Last May, Baghdad hosted a conference to announce the initial launch of the strategic development road project, in the presence of transport ministers and representatives of ten regional countries. Billion dollars.

The minister said Razzaq Mohibis Al-Saadawi In a speech he delivered yesterday during the meeting of the technical committees on the development path project sponsored by his ministry, "The development path constitutes a qualitative transition in the economic and commercial reality of Iraq, the region and the world."

And during the meeting, which was held with the participation of ten countries, that Iraq The technical committees are expected to present their governments' full perceptions of the nature and proportions of their participation in the development and special designs project, stressing that the project will strengthen relations Iraq economic and social with the countries of the world.

Al-Saadawi revealed the approval of the economic feasibility study prepared by the Italian consulting company, renewing his determination Iraq On the completion of this project, as it constitutes a qualitative transition in the economic and commercial reality of Iraq, the region and the world.

He stated that the presence of these countries is a prominent and distinctive sign, indicating the success of the project and its importance to them, and the evidence is the participation of these countries and the joining China And Lebanon With this great international project, with the presence of the World Bank.

To that explained the marine captain Salah Al-Eidani Road investment would help Iraq The project is expected to achieve integrated development for the countries participating in the project, and its investments are expected to reach more than 100 billion dollars for its first phase, while its industrial, marine and land investment sites will constitute promising economic, financial and technological centers that compete with global counterparts, according to the official newspaper.    LINK

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Clare:  Kurdistan Finance receives 400 billion dinars from Baghdad and sets a date for distributing salaries

6/15/2023

The Ministry of Finance and Economy of the Kurdistan Regional Government announced, on Thursday, the transfer of 400 billion dinars from Baghdad to its bank account to finance employees' salaries.

The ministry said in a statement received by Shafaq News agency, "By a decision of the Federal Council of Ministers, today, an amount of 400 billion dinars was transferred to the ministry's bank account in the Erbil branch of the Central Bank, through Al-Rasheed and Al-Rafidain Banks."

The statement added, "The salaries of employees for the month of May will begin to be distributed, starting from the 18th of this month, as health will be the first ministry."  LINK

Wednesday Night KTFA CC "A New Exchange Rate Is Next" 6-14-2023

KTFA

Wednesday Night Conference Call

Frank26….6-14-23….A NEW EXCHANGE RATE IS NEXT

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

Frank’s team is Walkingstick, Eddie in Iraq and guests

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=fPFAvlcnydE

KTFA Members "News and Views" Wednesday 6-14-2023

KTFA:

Clare:  Today.. the launch of the activities of the International Economic Forum in St. Petersburg

6/14/2023

Today, Wednesday, the activities of the International Economic Forum in St. Petersburg will start, which will continue until June 17.

The St. Petersburg International Economic Forum (SPIEF) is a unique event in the world of economics and business, as it has become a global platform for communication between representatives of the business community and discussion of major economic issues.

It is remarkable in the global economic event, this year, the participation of the United Arab Emirates as a guest of honor.

 This year, the forum will bring together representatives from more than 100 countries, including the Commonwealth of Independent States, China, India and Vietnam.

The forum, which has been held since 1997, will discuss various topics, such as politics, economics, management, technology, development, digitization and the environment.

In 2022, the St. Petersburg International Economic Forum witnessed the conclusion of deals and contracts worth about 5.6 trillion rubles ($105 billion), as 695 agreements were signed. LINK

Turk182:  ‘Iraq 2023, Open to the World’, IBBC Mansion House Conference, June 16th, 2023

One would be embarrassed to "Open to the World" within the next 24-Hours, with an absolutely worthless currency.

Not sure how they sent the Budget over to the President for Signatures?  Must have used the "Camel-Express"

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Clare:  Tomorrow... the Emir of Qatar arrives in Baghdad for an "important" visit

6/14/2023

The Iraqi government announced that the Emir of Qatar will arrive in Baghdad tomorrow, Thursday, on a visit it described as "important".

Government spokesman Basem Al-Awadi said, in a statement reported by the official Iraqi news agency, the Emir of Qatar, Tamim bin Hamad Al Thani, will arrive in Baghdad tomorrow, Thursday.

Al-Awadi added that the visit of the Emir of Qatar has important political and economic dimensions, without giving further details.

Last May, an informed source in the Iraqi government revealed to Shafaq News agency that the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, will pay an official visit to Iraq in June.

The source added that Al-Thani will meet with the three Iraqi presidencies, in addition to a number of Iraqi political leaders, indicating that he will discuss in Baghdad the file of the commercial and investment sector, security cooperation and other files.   LINK

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GameofPatience:  Question for Frank or admins, I’m an attorney and Iraq’s laws require them to amend laws to make changes to them (budget is a law).

Question: even though the budget states the currency value can be changed at anytime, it’s a law and requires amending to make changes. Because it was already approved 1,300 dinar per dollar, it’s not able to be changed without amending it.

What steps will they use to change the rate?    Thanks  

Paulette:  IMO.........The Budget is NOT law yet.........Usually at least 7-10 days to be approved and signed by the President and then 3 days Gazette posting

Clare:  THE BUDGET MAY HAVE ALREADY BEEN SIGNED imo

Paulette:  Perhaps.........  however, IMO.....Latif has been in Italy and the budget was first "sent" from Parliament yesterday.  In the past, this has not meant that the President "received" it.  I do not recall ever seeing the budget law signed by a President in less than 7 days.  As Latif is a Kurd, his signature will be symbolic of a final "approval" by the Kurds .....

Turk182:  I don't believe that Iraq has the "Luxury" of "slow walking" this thing any further.  The Time is NOW, Action is needed NOW.

StephenMac68:  I know this was addressed to Frank or Admins, but id like to throw in my two cents.

     This brings up various possibilities in the "interpretation" of the Budget Draft Law. The figure of 1300 (internal rate) was agreed upon as a starting point to continue with the budget, a common ground. From there, using those numbers, they could assign various allotments to different ministries, organizations, etc.

     The 1300 figure will not remain at 1300 because the value will change due to the actions of the internal and international markets. Parliament has no control over that. Hopefully, and eventually, that 1300 will get smaller (because the iqd is becoming more valuable), and when it does, the effect will be shared by all parties involved with the iqd equally.

     I think if anyone is responsible for either the success or failure of the IQD, it would be the CBI. And since the Parliament has no authority over the CBI, the ball is always in CBI's hands. Of course, they have assistance via the IMF and possibly input from the AMF, but ultimately, its CBI's baby.

     We were told, "Rate First, then Budget." It happened: Iraq got the rate of 1300, and then the budget was passed.

     Thank you for the fascinating question,

Clare:  Legal: The implementation of the oil agreement between the center and the region will take place immediately after the budget is approved

6/13/2023

Information / Baghdad..

Legal expert Ali Al-Tamimi confirmed, on Tuesday, that the oil agreement between Baghdad and the Kurdistan region will be implemented within the budget items as soon as the law is published in the Official Gazette, stressing that the Democratic Party will not challenge the amended budget paragraphs.

 Al-Tamimi said in a statement to Al-Maalouma, that "the implementation of the laws takes place after their approval and from the date of approval after their publication in the Official Gazette, and they do not have a retroactive effect unless they are proven by a legal clause."

He added, "The paragraphs that regulate the relationship between the center and the region, with regard to the oil agreement, will be implemented after the ratification of the law and from the date of its publication in the Official Gazette, and they do not have any retroactive effect."

Al-Tamimi indicated that "all the paragraphs contained in Articles (13, 14 and 15) of the Federal Budget Law are identical to the decision of the Federal Court," stressing that "the Democratic Party will not submit an appeal to those articles with the Federal Court."   LINK

Turk182:  The Gazette is only published on Wednesday's & Saturday's.  Looks like they missed today's chance (Wednesday's edition), so now this is kicked to "maybe" Saturday's edition.  Obviously AFTER Iraq Welcomes the World on Friday.   

What an Embarrassment.    It's like inviting the Homecoming Queen to the Prom, then picking her up in a rusted Yugo, wearing a Wife-Beater Tied-Dye Tee shirt, and ripped jeans shorts.

Not sure what else there is left to say?

Budget was Voted On and Approved, sent to President of Signature

Just waiting on Signature & Posting in Gazette to make it "Official"

Then The implementation of the oil agreement between the center and the region will take place immediately after the budget is approved.

Once that happens, WHAMO - NEW RATE - not days, weeks, or months after... Immediately!  or none of this "Budget" stuff works.  IMO

Ryan1216:  I fully agree with you. After the budget is signed and posted in the Gazette there is nothing left. All IMO

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Clare:  Reuters: Two billion dollars in losses for the Kurdistan region from stopping oil exports within 80 days

6/14/2023

Baghdad

Iraq is working to start technical talks with Turkey by early next week on resuming oil exports from northern Iraq, but hopes appear low that a quick solution can be reached, sources told Reuters.

Turkey stopped Iraq's exports of 450,000 barrels per day through the oil pipeline that extends from the Kurdistan region in northern Iraq to the Turkish port of Ceyhan on March 25.

Reuters calculations indicate that the 80-day stoppage has cost the Kurdistan Regional Government more than two billion dollars.
The two sources, familiar with the discussions, said on condition of anonymity that discussions at a technical level regarding the resumption of exports between Iraq and Turkey are scheduled to take place over the weekend or early next week.

An Iraqi oil official from the state North Oil Company told Reuters that the Turkish state energy company said that the pipeline needs further technical examination before restarting and will send a technical note on the status of the pipeline in the coming days.

The source said that this does not mean the resumption of exports immediately because this decision requires high-level political talks, adding that a Turkish energy delegation is expected to arrive in Baghdad, but he has not set a date yet.

Turkey's decision to suspend exports followed an arbitration decision by the International Chamber of Commerce that ordered Turkey to pay Baghdad $1.5 billion in compensation for damages caused by the Kurdistan Regional Government's export of oil without permission from the government in Baghdad between 2014 and 2018.

Attempts to restart the pipeline were delayed by last month's Turkish presidential election and discussions between the Iraqi government's Oil Marketing Company (SOMO) and the KRG over an export deal that has now been reached.

Hopes for the resumption of work were boosted when Turkish President Alp Arslan Bayraktar appointed Minister of Energy and Natural Resources on June 3.

Sources told Reuters earlier that among the issues to be resolved was that Turkey seek to negotiate the amount of compensation ordered by the International Chamber of Commerce.

The sources said they also want to permanently resolve outstanding issues in other open arbitration cases before they agree to resume flows.

Last Monday, the Iraqi parliament approved the 2023 budget, which included some articles that negate the financial independence of the Kurdistan Regional Government.

And the Kurdistan region suffers from a lack of liquidity due to the interruption of the pipeline, and Iraqi politicians and Kurdish lawmakers said that the region had no other choice but to approve the budget, from which it would receive 12.67 percent of the total 198.9 trillion dinars ($ 153 billion).

The loss in KRG revenue due to the 80-day oil shutdown is more than $2 billion, according to Reuters calculations based on exports of 375,000 barrels per day, plus the KRG's historical discount to the price of Brent crude.

The pipeline was also exporting about 75,000 barrels per day of federal crude.  LINK

KTFA Members "News and Views" Tuesday 6-13-2023

KTFA:

Clare:  A representative source for Al Furat News: Sending the budget to the Presidency of the Republic today  

6/13/2023

A representative source revealed the date of sending the tripartite financial budget bill to the Presidency of the Republic.

The source told {Euphrates News} agency that: "The general budget for the year 2023 will be sent to the Presidency of the Republic today for the purpose of approving it within 15 days, after which it will be published in the Official Gazette to be effective."

And the House of Representatives, at dawn yesterday, Monday, approved the draft federal budget law for the fiscal years 2023-2024-2025, after more than 4 days of holding sessions since last Thursday.

The value of the current year’s budget is 197 trillion and 828 billion dinars (about 152.2 billion dollars), with a total deficit of 63 trillion dinars (48.3 billion dollars), while the items of the 2023 and 2024 budgets have not been published.

 For his part, Prime Minister Muhammad Shia al-Sudani confirmed, in a statement today, that "the government will work to review the items that have been amended in the budget and study the extent of their conformity with the government's vision and objectives approved in the ministerial curriculum approved by Parliament."

Raghad Daham     LINK

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Suzie:  With JP Morgan coming into Iraq now and countries pouring in to do business, everyone should be done frothing at the mouth over the budget by now, it's time to release the kracken and show the rate internationally if they're going to play ball and get on board with the rest of the world....just sayin"....

Scarlett10: IMO  They have to show us the rate from now till June 16. How can they have such an important meeting claiming that Iraq is open to the rest of the world on June 16 without a strong currency to back them. Praying we will see something in the coming days. 

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Clare:  Shafak News publishes the text of the tripartite budget law for the Iraqi

6/13/2023

Shafaq News Agency publishes the text of the general federal budget law, "with three years 2023,2024,2025" for the Iraqi state, which the House of Representatives voted on at dawn on Monday, the twelfth of June, after discussions that lasted for five days.

The value of the current year's budget is 197 trillion and 828 billion Iraqi dinars (about 152.2 billion dollars), with a total deficit of 63 trillion dinars (48.3 billion dollars).

And the Iraqi Prime Minister, Muhammad al-Sudani, confirmed that his government will review the parliamentary amendments that were made to them and the extent of their conformity with the government's goals.

Here is the text of the law     LINK

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Clare:  Al-Halbousi to the American Chamber of Commerce delegation: Conditions are now ripe for economic work in Iraq

6/13/2023

Parliament Speaker Muhammad Al-Halbousi received, today, Tuesday, a delegation from the American Chamber of Commerce, which included a large group of companies specialized in various fields, headed by the President of the American-Iraqi Business Council, Steve Lotus, and in the presence of the Chairman of the Investment Committee and the Vice-Chairman of the Economic Committee Parliamentary industry and commerce.

A statement from his office, a copy of which {Euphrates News} received, stated that: "The meeting discussed strategic cooperation and strengthening bilateral relations in the economic aspect between Iraq and the United States of America."

Al-Halbousi listened to a review by members of the delegation of existing investment opportunities and proposed projects in the field of health, energy, banking system, infrastructure, services, and others, stressing that "Iraq is open to foreign companies, provides the necessary facilities for investment in various fields, and works to provide the appropriate environment for international companies through the necessary legislation." ".

He also pointed out that "the conditions are now ripe for economic work in Iraq, and there are many investment opportunities and important projects within the government's vision and its executive program, which were approved within the Federal General Budget Law."  LINK

Monday Night KTFA CC "Pass the Hot Sauce and the Tri Budget" 6-12-2023

KTFA

Monday Night Conference Call

Frank 26…..6-12-23 …….PASS THE HOT SAUCE AND THE TRI BUDGET

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

Frank’s team is Walkingstick, Eddie in Iraq and guests

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=jKAJD0PTTag

KTFA Saturday Night CC With Frank26 "The ATM's" 6-10-2023

KTFA

Saturday Night Conference Call.

Frank26:   6-10-23…..THE ATM’s

Sign on ATM’s- “ These ATM machines are not active right now but, you will be using them soon.~ Citizens of Iraq”

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

Frank’s team is Walkingstick, Eddie in Iraq and guests

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