KTFA Monday Night CC "GET OUT OF THE WAY" 7-24-2023

KTFA

Monday Night Conference Call

Frank26…….7-24-23…..GET OUT OF THE WAY

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=lBpm0-yUQSE

KTFA Members "News and Views" Monday 7-24-2023

KTFA:

Clare:  Parliamentary Finance Is Threatening To Move If The Central Bank Fails To Contain The Dollar Crisis

 7/24/2023

Today, Monday, the Parliamentary Finance Committee revealed the goal of hosting the Governor of the Central Bank of Iraq, Ali Al-Alaq, a day after his meeting with the Prime Minister.

Committee member Jamal Cougar told Earth News that "the goal of hosting the Governor of the Central Bank of Iraq, Ali Al-Alaq, is to discuss the issue of the significant rise in the dollar exchange rate in the local market, and the bank's measures to counter this rise."

And Cougar stated, “The Parliamentary Finance Committee does not have any powers over the issue of dollar procedures, as this matter is within the jurisdiction of the executive monetary authority, and we have a supervisory role on these procedures and the follow-up of the imbalance, and we are held accountable for it, and we will also have an opinion on the role of the central bank in dealing with the dollar crisis during the coming period.”    LINK

Zeeman:  IMO all these articles  talk about the usd seems to be rising instead of decreasing . it seems as though they either do not really want to revalue the dinar or are being told not to by outside powers. they have been talking about releasing the budget since nov of 2022 if it was so important to the economy and citizens  it should have been done a long time ago. again IMO

Clare:  Details of the Parliamentary Finance meeting with the Governor of the Central Bank regarding the reasons for the rise in the dollar

7/24/2023   Baghdad

- The Parliamentary Finance Committee is discussing with the governor of the Central Bank the reasons for the high dollar exchange rate

Parliamentary Finance: There is optimism in the process of reforming the economic reality, money management, and the path of controlling the exchange rate

Parliamentary Finance: There is a problem related to the existence of penalties imposed on some banks

- Governor of the Central Bank: The bank's mission is to achieve monetary stability and control prices

- Governor of the Central Bank: It is necessary to create a balance between supply and demand for foreign currency, and to monitor the cash currency entering and leaving through the outlets, and confirming its entry in a proper manner.

- Governor of the Central Bank: The general principle of monetary stability is the linkage of the exchange rate with cash

Central Bank Governor: The problem lies in the increased demand for currency, while the bank provides currency through the platform   LINK

Suzie:  Call me dumb, but sounds like a lot of banking issues before any ER change and I thought al Alaq was brought in months ago to speed things up and literally a month ago sounded like this thing was ready to "pop" with the budget and everything else coming into play and here we are almost into August and with banning the use of the dollar I wonder how their people are getting by?  Just wonderin"......in MY opinion....

Turk182:  Over a Month since the 2023, 2024 & 2025 Budgets were Officially Printed in the Gazette

Several Months since Sudani told the Citizens of Iraq to no longer use the USDollar (or they would be arrested) and also Do Not use your Iraqi Dinar, as it will "SOON" be worth more.

Here we are, on the verge of August 01st and still nothing.

No more excuses, they've been using this cover of an excuse for nearly a year now of their "Educating the Citizens on this Monetary Reform" - 

Iraq is obviously NOT a Sovereign Nation. (IMHO)

So much Hype, yet the prettiest girl at the Prom is still sitting in the corner.

Why?     Something smells rotten in Denmark.  (IMHO)

Zeeman:  Theres alot of talk but remember action speaks louder then words and we need real action instead of meaningless words. Imo

Turk182:  Couldn't agree more Zee…..and these "ACTIONS" are very long overdue.

Clare:  Economic warning of Iraq's return to Chapter VII

7/24/2023    Baghdad...

Economic expert Abd al-Hasan al-Shammari warned, on Monday, that Iraq would return to Chapter VII and impose sanctions on it due to banking violations of the Swift system, stressing the importance of diversifying the sources of the economy and trade exchange with capitalist countries.

 Al-Shammari told Al-Maalouma, "The government does not need to take measures to ensure that the exchange rate of the dollar is returned to its official price, after it recorded an increase from its previous level a week ago today, especially after imposing sanctions on a number of Iraqi banks."

He added, "Ensuring that sanctions are not imposed on Iraqi banks and the continuation of selling the dollar in its natural state depends on Iraq's commitment to international resolutions and the Swift system, and otherwise, Baghdad will face sanctions that may return it to Chapter VII."

And he indicated that "the exchange rate of the dollar may reach 1,700 dinars in the coming days, in the event that sanctions and transactions that violate international resolutions continue to be imposed."

He pointed out that "the country is liable to return to the oil-for-food program if the situation continues as it is."

Al-Shammari pointed out, "the importance of heading towards the rich capitalist countries in order to diversify the sources of the economy and trade exchange."  LINK

KTFA Friday Night CC "Rate Changed Again" 7-21-2023

KTFA

Friday Night Update

Frank26…..7-21-23……RATE CHANGED AGAIN

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

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

Frank26: They are pairing the Iraqi dinar with many currencies from all around the world…and that pairing  is bringing the Iraqi dinar on a International Stage….not full accepted yet but greatly appreciated.

Please listen to full video for all the information

https://www.youtube.com/watch?v=V7RyMN4_v_Q

Iraqi "Unrest" News and more posted by Clare at KTFA 7-20-2023

KTFA:

Clare:  The Central Bank issues two decisions to support the dinar against the dollar

7/20/2023

  The Central Bank of Iraq announced, today, Thursday, that it had taken "two urgent decisions" to enhance the ability of the Iraqi dinar in front of foreign currencies to circulate within the country.

And the Central Bank media stated in a statement received by {Euphrates News} that "the collection of all cash insurances shall be in the dinar currency exclusively with regard to internal credits, bank guarantees, and letters of guarantee issued in favor of the beneficiaries (governmental and private), even if they are in the dollar currency and at the official exchange rate." 

He added, "It was decided that the payment of the sums of the letters of guarantee upon confiscation be exclusively in the Iraqi dinar and at the official exchange rate." 

The Iraqi Central Bank called, according to the statement, "all licensed banks to take the necessary measures in accordance with the above."   LINK

Clare:  Iraq cuts diplomatic relations with Sweden

7/20/2023

The Iraqi government decided, on Thursday, to withdraw its Chargé d'Affaires in Stockholm, and expel the Swedish ambassador from the country's lands, in protest against allowing a demonstration in which the Qur'an was torn and burned for the second time.

The government spokesman, Basem Al-Awadi, said in a statement today that the Prime Minister, Muhammad Shia'a Al-Sudani, directed the Ministry of Foreign Affairs to withdraw the Iraqi Chargé d'Affairs from the Embassy of the Republic of Iraq in the Swedish capital, Stockholm. 

He also directed a request from the Swedish ambassador in Baghdad to leave Iraqi territory, in response to the repeated permission of the Swedish government to burn the Noble Qur’an, insult Islamic sanctities and burn the Iraqi flag, according to Al-Awadi.    LINK

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Clare:  Al-Sadr's supporters burn the Swedish embassy.. The Foreign Ministry denounces and Stockholm holds the Iraqi authorities responsible

7/19/2023

The Swedish embassy in Baghdad was set on fire at dawn, Thursday, during a demonstration organized by supporters of the leader of the Sadrist movement, Muqtada al-Sadr, on the eve of a gathering in Sweden in front of the Iraqi embassy whose organization intends to burn a copy of the Quran.

The attack on the Swedish embassy in Baghdad came after the Swedish police allowed the organization of a small gathering in front of the Iraqi embassy in Stockholm, where the organizer intends to burn a copy of the Koran and the Iraqi flag on Thursday.

For its part, the Iraqi Ministry of Foreign Affairs condemned in a statement "in the strongest terms" the burning of the Embassy of the Kingdom of Sweden in Baghdad, calling for the launch of an "urgent investigation" into the incident.

The statement stated that "the Iraqi government instructed the competent security authorities to conduct an urgent investigation and take the necessary security measures with the aim of uncovering the circumstances of the incident and identifying the perpetrators of this act and holding them accountable according to the law."

And Silwan Momica, who wants to burn the Qur’an in Sweden today, Thursday, is an Iraqi refugee there, and on June 28 he also burned pages of a copy of the Qur’an in front of the largest mosque in Stockholm on Eid al-Adha.

In response to the storming of its embassy, ​​the Swedish Foreign Ministry said: We condemn all attacks on diplomats and staff of international organizations. All employees of our embassy in Baghdad are safe and the ministry is in regular contact with them.

She added that the attacks on embassies and diplomats constitute a serious violation of the Vienna Convention, and the Iraqi authorities bear the responsibility to protect diplomatic missions and their personnel.   LINK

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Clare:  Iraq.. The Communications and Media Commission suspends the license of the Swedish Ericsson Telecom Company

7/20/2023

Baghdad - 

Today, Thursday, the Iraqi Media and Communications Authority announced the suspension of the license to operate the Swedish company Ericsson for communications in Iraqi territory.

The commission said in a statement, which Mawazine News received a copy of, that "the head of the Media and Communications Commission, Ali al-Moayyed, suspended the license to operate the Swedish Ericsson Telecom Company in Iraqi territory because its country allowed the burning of the Holy Qur'an and the Iraqi flag."

The media office of the prime minister announced in a statement that the latter "directs the Ministry of Foreign Affairs to withdraw the Iraqi Chargé d'Affaires from the Embassy of the Republic of Iraq in the Swedish capital, Stockholm. He also instructed the Swedish ambassador in Baghdad to leave Iraqi territory, in response to the repeated permission of the Swedish government to burn the Holy Qur'an, insult Islamic sanctities, and burn the Iraqi flag."

Earlier, Al-Sudani chaired an emergency meeting against the background of granting the Swedish government a license to burn the Qur’an, and the incident of burning the Swedish embassy in Baghdad.

The Swedish authorities summoned the Iraqi charge d'affairs in the country, following the burning of its embassy in Baghdad, in protest against Sweden's granting of approval to burn the Qur'an in front of the Iraqi embassy in Stockholm.   LINK

Clare:  After the US sanctions... Exchange company guards shoot journalists in central Baghdad

7/20/2023

The Journalistic Freedoms Observatory reported, on Thursday, that the guards of an exchange company shot two journalists in the center of the capital, Baghdad, wounding one of them and detaining his brother, after a US decision to impose sanctions on Iraqi banks.

The Observatory said, in a statement received by Shafaq News Agency, that the security forces of an exchange company opened fire on journalists in central Baghdad today, Thursday, during a live broadcast of Iraq 24 channel, which is specialized in economic affairs.

The observatory quoted Hassan Nabil, the channel's correspondent, as saying that the staff of Iraq 24 channel in Baghdad were subjected to beatings and gunshots by the protection of Al-Taif Exchange Company during live coverage in front of the company's building in Karrada, after the issuance of US sanctions against 14 Iraqi banks, including Al-Taif Bank.

Nabil added that he was detained inside the bank before being transferred to Al-Masbah police station, in addition to his brother Musa Nabil being shot in the hand when he was trying to protect him from the assault of the company's security personnel, and the photographer, Hassan Nabil, had bruises in parts of his body.

Nabil told Al-Marsad that he is currently at Al-Masbah police station in the capital to file a lawsuit against the bank's management.

This comes at a time when the Iraqi Observatory for Journalistic Freedoms had called on the security services to stop using violence against journalists and avoid arbitrarily arresting and detaining them on charges of "forbidden photography" despite having identity cards.    LINK

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Clare:  It has been suspended for more than 10 years.. Parliament announces the activation of the Article 140 Committee, according to a political agreement

7/20/2023

Today, Thursday (July 20, 2023), the Second Deputy Speaker of the House of Representatives, Shakhwan Abdullah, announced the reactivation of the temporary committee formed in the House of Representatives to follow up the work of the Article 140 Committee of the Constitution, while pointing out that this committee has been suspended for more than 10 years.

Abdullah said in a press conference held with the participation of members of Parliamentary Committee 140, followed by "Baghdad Today", that "the temporary committee formed in the House of Representatives to follow up on the work of the Article 140 Committee of the Constitution, which has been suspended for more than 10 years, was activated after the agreement of the political blocs and support for the activation of this article."

He added, "There are thousands of transactions from those affected by the policies of the defunct regime within the framework of Article 140. We noticed through representatives of the governorates that there are many files, and the truth is that the amount allocated for compensation by the government in the 2023 budget is a very small amount."

And Abdullah continued, "The committee needs to complete its tasks to four trillion. Only 100 billion dinars have been allocated, and after efforts, another 100 billion were transferred to become the amount of 200 billion. This amount needs to be organized for how compensation reaches those included in the article. A mechanism has been established for the work of the committee, and there are regular weekly meetings for the work of Committee 140 to push for its real activation and completion of its tasks."

And he pointed out, "One of the tasks of the committee is also the necessary legislation and the abolition of the decisions of the Revolutionary Command Council that are unfair to the rights of the people of many provinces."

Abdullah concluded, "We thank the efforts of the government that voted on a draft law to cancel the decisions of the Revolutionary Command Council. The committee will have its first tasks to seek to receive the draft law from the government and approve it to ensure the restoration of farmers' rights. There will be a mechanism in cooperation with the government committee to reach citizens' dues in all governorates because there are southern governorates that did not receive compensation in addition to the governorates of Kirkuk, Diyala and Nineveh."

Yesterday, Wednesday (July 19, 2023), the former deputy of the Patriotic Union of Kurdistan, Hassan Ali, criticized the exploitation of the problems of "Article 140" as the elections approached. Stressing that its solution "lies only through the constitution."

In an exclusive interview with "Baghdad Today," Alli seemed surprised by "exploiting the problems of the politically disputed regions with the approach of each new election cycle," considering that "delaying the implementation of the article does not mean at all that it has ended in a constitutional article."

The aforementioned constitutional article does not fall away with time, according to the Kurdish MP. Which confirms that "these areas must be private by the federal government."

The speaker acknowledges the continuation of the problems of the disputed areas, and links their solution exclusively to the "constitution," noting that "the mobilization of politicians will continue with every electoral process."

Yesterday, Wednesday (July 19, 2023), he announced the formation of a political alliance that includes 13 Kurdish parties to participate in the provincial elections in the disputed areas, without including the Kurdistan Democratic Party and the Kurdistan Islamic Union.  LINK

Wednesday Night KTFA CC "THEY ARE WAITING ON THEMSELVES" 7-19-2023

KTFA

Wednesday Night Conference Call

Frank26…..7-19-23……THEY ARE WAITING ON THEMSELVES

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=63vVMrG86u4

An Arab currency stronger than the US dollar.. "Forbes" monitors the 10 weakest monetary currencies in the world

KTFA:

Clare:  An Arab currency stronger than the US dollar.. "Forbes" monitors the 10 weakest monetary currencies in the world

7/18/2023

 The American "Forbes" magazine discussed the 10 weakest currencies in the world, of which the Iranian riyal is the weakest, as well as the Lebanese pound, at a time when the Kuwaiti dinar is actually the strongest currency, even against the US dollar, which remains among the strongest currencies in the world.

The American report, translated by Shafaq News agency, pointed out that the US dollar is seen as the strongest currency in the world and is the most traded, at a certain level, but it is actually not the strongest currency, but rather the Kuwaiti dinar.

Currency pricing

The report reviewed how foreign currencies are priced, explaining that foreign currencies are traded in pairs, for example, the purchase price of the US dollar is using the pound sterling, and as a result, the currency is always priced in relation to another currency, which is known as the "exchange rate".

 The report indicated that most currencies are "floating", which means that their value fluctuates according to supply and demand, but some currencies are "pegged", which means that their value relative to another currency (such as the US dollar) is fixed at an agreed upon price.

The report pointed out that exchange rates affect the cost of goods and services in a foreign currency. For example, if the pound sterling rose against the dollar, vacation expenses in the United States would be less expensive in terms of the pound sterling.

He added that exchange rate movements provide an opportunity for investors seeking to make profits through trading foreign currencies.

Then the report reviewed the ten most vulnerable currencies in the year, according to an assessment based on the number of foreign currency units that are obtained for one US dollar.

Iranian riyal 

The report considered that the Iranian riyal is the weakest currency in the world, as one riyal buys only 0.000024 US dollars (meaning that one dollar equals 42,273 Iranian riyals).

He pointed out that the Iranian rial was introduced for the first time in the late 18th century, and was later linked to the pound sterling, and then to the US dollar.

He added that although the currency is now floating, it has remained at around 42,000 riyals to the dollar over the past few years.

Despite Iran's leadership in oil and gas, economic sanctions have put pressure on the Iranian currency, in addition to political unrest and high inflation.

Vietnamese dong

The report stated that the Vietnamese dong is considered the second weakest currency in the world, as one dong buys 0.000042 US dollars (or one dollar equals 23,711 Vietnamese dong), a process that began trading in 1978. 

He added that services represent the largest proportion of the gross domestic product, followed by industries such as electronics, energy and textiles, but the currency has been affected by restrictions on foreign investment and the recent slowdown in exports, along with high interest rates in the United States.

Laotian Cape

The report pointed out that the Laotian kip is the third weakest currency, as one kip buys $0.000052 (or $1 equals 19,072 Laotian kip), a currency introduced in the fifties of the last century, and it is a floating currency.

Laos relies heavily on exports such as copper, gold and timber, but the economy has been hit by slowing economic growth, high external debt and inflation, which put pressure on the national currency. 

Sierra Leone

As for the fourth weakest currency in the world, it is the Sierra Leonean leone, where one leone buys 0.000057 dollars (or the dollar equals 17665 Sierra Leonean leone), and it was introduced in 1964, and is fully floating.

He added that the main exports of Sierra Leone include timber and minerals such as diamonds, gold and industrial minerals, and the value of the leone currency has declined due to inflation that exceeded 40%, in addition to large debts, slow economic growth and the economic effects of the Ebola virus outbreak.

Indonesian rupiah 

The Indonesian rupiah is considered the fifth weakest currency in the world, as 1 rupee buys 0.000067 US dollars (or 1 dollar equals 14,993 Indonesian rupiahs), and was introduced in 1946 and was initially pegged to the US dollar before moving to a free float.

The report described Indonesia as the largest country in Southeast Asia in terms of gross domestic product, thanks to the services sector.

Lebanese pound

According to the report, the Lebanese pound is considered the sixth weakest currency in the world, as one pound buys 0.000067 US dollars (or the dollar equals about 90,000 Lebanese pounds). The lira was introduced for the first time in the 1930s and is linked to the US dollar.

He pointed out that Lebanon has an economy based on services, but it also exports precious stones, minerals, chemical products, food and beverages.

He added that the lira fell to a record level against the US dollar in early 2021 due to the severe economic recession, high inflation, unemployment, the banking crisis and political unrest.

Som Uzbekistan

The report stated that the Uzbekistani som is the seventh weakest currency in the world, as 1 som buys 0.000087 dollars (or 1 dollar equals 11.516 Uzbekistani som), a currency introduced in 1993 and fully floating.

Uzbekistan is considered one of the leading countries in the export of cotton and has large reserves of minerals, oil and gas. It is implementing economic reforms, but it still suffers from low economic growth, high inflation, unemployment and corruption.

Guinea franc

As for the eighth weakest currency, it is the Guinean franc, where one franc buys 0.000116 dollars (or 1 dollar equals 8583 Guinean francs). The currency was introduced in 1959 and is fully floating. 

Although Guinea has an abundance of natural resources such as gold and diamonds, it has suffered from increasing rates of inflation, military unrest and the influx of refugees from neighboring Liberia and Sierra Leone.

Paraguayan Guaraní 

And the Paraguayan guarani comes in ninth place, where 1 guarani buys 0.000138 dollars (or 1 dollar equals 7249 Paraguayan guarani), and it was introduced in 1952 and is fully floating.

Although Paraguay is a major producer of soybeans, stevia (a sugar substitute) and beef, as well as exports of corn and sugarcane, it has been pressured by soaring inflation, corruption and counterfeiting of currency.

Ugandan shilling

The Ugandan shilling is considered the tenth weakest currency in the world, as the Ugandan shilling buys 0.000273 dollars (or the dollar equals 3669 Ugandan shillings), and it was introduced in the year 1966, and it is floating freely.

Although the country is rich in commodities such as oil, gold and coffee, its economy suffers from unstable growth, high debt and political turmoil.   LINK

KTFA Monday Night CC "They Are Getting Ready" 7-17-2023

KTFA

Monday Night Conference Call

Frank26…….7-17-23….THEY ARE GETTING READY

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=wGcjy3VYjfM

KTFA Members "News and Views" Monday 7-17-2023

KTFA:

Clare:    The Kurdistan government suspends official working hours in the first of Muharram

Shafaq News / The Department of Information and Information in the Kurdistan Regional Government announced on Monday the suspension of official working hours on the first day of the Islamic New Year according to the official calendar.

"The Ministry of Endowments and Religious Affairs will determine today evening after sunset the first day of Muharram and declare it an official holiday," the department said in a statement responding to Shafaq News Agency.  LINK

Paulette:  With a holiday this Wednesday for Islamic New Year, A cabinet meeting tomorrow on New Year's Eve.........Could Kim Clement prophesy be:

".....In the summer months........ Nothing(the week 6/21-6/28), Nothing(the week 6/28-7/5), Nothing(the week 7/5-7/12), Suddenly(the week 7/12-7/19)"...... ?????????

Clare:  The Finance Committee is likely to launch the implementation of the budget law tomorrow

7/17/2023

The Parliamentary Finance Committee ruled out, on Monday, the impact of the Iraqi government's appeals on articles of the general budget law in the continuation of the law, suggesting that the implementation of its articles will start from tomorrow.

Committee member, Representative Jamal Koujar told Shafaq News agency, "The appeals submitted by the government against articles and paragraphs of the budget law are the ones that stop, not the budget law."

Cougar suggested that the cabinet session tomorrow, Tuesday, would be the beginning of the launch, and the implementation of the budget law in ministries and state institutions.

Cougar stressed that the Ministry of Finance should be ready to implement the budget law, and we do not know the reasons for the delay in implementing the law.

On the third of July, the head of the federal government, Muhammad al-Sudani, submitted an appeal to the Federal Supreme Court against a number of paragraphs of the budget law, with a request to the court to issue a (state order) to stop the implementation of these articles after the law entered into force until the court decided to challenge the constitutionality of these articles.

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

Suzie:  I hope this means getting "off dead center" and get going with all reforms, as they're not using the US dollar anymore they need the rate change to the dinar to execute all their plans including the HCL.  We're starting a new week, again, how long can they keep up with the rhetoric and promises and not perform?  Hopefully Frank will have a few more answers tonight!  Just MY opinion! 

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TBJ:  I believe there are formalities in this process that make this rate change we are looking forward to, to take 'just a bit longer' than we expect, and I sure hope the frustrating "surprise" formalities are near their final end so we can finally experience the end result.....

DoTalkToMe:  I believe Iraq wants to RI. However they are ineffective so far. I believe they still need outsiders help to get it done. They need USA to hold their hand to coax them over the finish line.

Godson:  Imo.. They've been doing it they just haven't finished yet

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Clare:  The President of the Republic directs the need to work hard to implement Article (140) of the Constitution and to follow up on its implementation with the relevant authorities

2023/07/17

His Excellency the President of the Republic, Dr. Abd al-Latif Jamal Rashid, instructed the necessity of serious work to implement Article (140) of the Constitution and to end the outstanding issues regarding it in a manner that preserves the rights of all.

Mr. President stressed the importance of following up the implementation of the decisions of the Supreme Committee for the implementation of constitutional Article (140) by holding meetings and gatherings with the relevant authorities and giving priority to this file, which affects the lives of a wide segment of the components of Iraqi society.

His Excellency had met separately with a delegation that included a number of farmers and farmers from Kirkuk Governorate, and a member of the Supreme Committee for the Implementation of Article (140) of the Constitution, Mr. Babiker Siddig Ahmed, and listened to them about the problems they face, especially in resolving issues related to agricultural lands and not activating Article (140)

Where the delegation, after meeting the President of the Republic, held a number of meetings with officials and relevant authorities, which resulted in taking actual steps to implement Cabinet Resolution No. (29) of 2012 with the aim of finding appropriate solutions for the suffering of the farmers and farmers of Kirkuk.

His Excellency the President directed the formation of a committee in the Presidency of the Republic to follow up the implementation of the decisions of the Supreme Committee of Constitutional Article (140) by the relevant ministries and institutions, and to submit a report to His Excellency in this regard periodically.   LINK

Clare:  The Kurdistan delegation reveals the outcomes of its first meeting in Baghdad

7/17/2023

On Monday, the Kurdistan Regional Government delegation held its first meeting with officials of the federal government, in the capital, Baghdad.

Omid Sabah, the head of the cabinet's office in the region, who heads the Kurdish delegation, said, in a statement received by Shafaq News agency, "The meeting witnessed a discussion about the mechanism for implementing the paragraphs related to the obligations and dues of the Kurdistan Region in the federal general budget."

Sabah added, "The meeting decided to continue working with the Ministries of Oil and Finance and the Board of Supreme Audit, and a high-level meeting will be held in the coming days."

Yesterday, Sunday, a delegation from the Kurdistan Regional Government went to the capital, Baghdad, to meet with officials of the federal government at the Prime Minister's Office, and discuss the financial dues of the region.  LINK

Sir:  IMO- It’s called slow dancing! 

Far too many things going on in the world for the prettiest girl at the prom to be doing the jidder-bug, so we hold her tight and slow dance. 

Surely we have influences out side of Iraq holding things up. Plenty of articles stating that the US needs to recognize Iraq’s sovereignty. I strongly believe that it’s more than just the US. After all we all know that the IMF-WEF-World Bank-WHO-WTO and many other are compromised and have always been compromised.

Iraq is not the only country dealing with corruption and evil people. Unless the corruption in all Fore-mentioned agencies are cleaned out our just eliminated, sadly things will remain the same. You can’t have one ( RI ) without the other ( eliminate corruption).

One thing we can do as good people is to stop playing in their system. Stop shopping at their stores, gas-stations and be sure you have real money ( Constitutional money, gold-silver ). The choice is ours and so we keep slow dancing. IMO….

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Clare:  Parliamentary Finance hosts the Governor of the Central Bank to discuss the exchange rate of the dollar

7/17/2023

The Parliamentary Finance Committee announced, on Monday, that it decided to host the Governor of the Central Bank, Ali Al-Alaq, next week.

The deputy head of the committee, Ahmed Mazhar al-Jubouri, said, “After approving the budget and fixing the exchange rate of the dollar at 1,320 dinars, there will be a hosting of the governor of the Central Bank and his advanced staff next week in the Finance Committee to discuss the issue of the exchange rate.”

He added, “The committee will discuss with the governor about the bank’s plan.
” In maintaining the exchange rate.”    LINK

Same "Saturday News" Posted by KTFA Members 7-15-2023

KTFA:

Clare:  An upcoming government announcement to disrupt working hours next Wednesday

7/14/2023    Baghdad

A government source said today, Friday, that the government is heading to announce the suspension of working hours next Wednesday.

The source told "Baghdad Today" that the government will announce the suspension of official working hours next Wednesday.

He added that "working hours will be suspended on the occasion of the first of the holy month of Muharram."    LINK

Paulette:  And there it is.....Islamic New Year Holiday

Henig:  Parliamentary Finance: Tomorrow will witness the launch of provincial allocations within the budget

Today 12:37    Information/ Baghdad.

A member of the Parliamentary Finance Committee, Mueen Al-Kazemi, confirmed the launch of provincial allocations tomorrow, Sunday.

Al-Kazemi said in a televised interview followed by Al-Maalouma that "the allocations of ministries and governorates from the budget are scheduled to be launched tomorrow, Sunday."

He added that "the budget is under implementation, with the exception of some articles against which the state order was issued, and it was frozen until the final decision was issued."

Al-Kazemi pointed out that "the Presidency of Parliament assigned the Parliamentary Legal Committee to cooperate with the Finance Committee to provide the necessary clarifications to the Federal Court on the state decision."   LINK

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Clare:  Finance Minister: Iraq possesses the requirements of a strong economy

7/15/2023

Today,     
Saturday, the Minister of Finance, Taif Sami, summarized the ministry's steps to support the government program and advance the Iraqi economy, while noting that the Ministry of Finance has been activating bilateral agreements with various international financial institutions that support the establishment of a balanced and sustainable financial and economic system.

And the Director of Al-Rashid Bank, Muhammad Samir, delivered the speech of the Minister of Finance, Taif Sami, during the sixth annual conference on finance and banking services, which was attended by the correspondent of the Iraqi News Agency (INA), in which he stated that “convening the conference is of importance because it provided an opportunity to announce our steps in the Ministry of Finance to support the program.”

The government through a well-thought-out approach that pushes the wheel of economic advancement and provides opportunities for sustainable development, which is reflected in the provision of the best services to citizens through the banking sector, as it is one of the pillars supporting any stable and vibrant economy, and plays a pivotal and major role in supporting the process of economic industrial renaissance by providing absolute support to the productive sectors of Owners of small and medium local projects.

In her speech, the Minister of Finance added:
And she continued: "Therefore, the Ministry of Finance is moving steadily towards optimal development of economic goals by promoting optimal opportunities to attract investment from infrastructure projects and correcting the course of fiscal policy in light of the current economic challenges." LINK

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Clare:  The Central Bank of Iraq participates in the opening of the Sixth Annual Conference on Finance and Banking Services

July 15, 2023

Today, Saturday, the Central Bank of Iraq participated in the opening of the sixth annual conference on finance and banking services, which was held at the Baghdad International Fair.

The Deputy Governor, Dr. Ammar Khalaf, in his speech during the opening ceremony, emphasized the role of the Central Bank of Iraq in achieving financial and economic stability in the country, stressing the existence of changes in the various monetary policy tools in line with the challenges of the stage.

The deputy noted an increase in electronic payment tools in the period between 2017-2022, as today the number of different cards has reached 16 million, with the number of payment devices increasing from 918 devices to more than 10 thousand devices, in addition to the increase in the number of ATMs from 656 devices. To more than 2000 devices, and it is subject to increase during the coming period.

Accompanied by the invitees, Mr. Representative toured the corridors of the exhibition, which ends on the 17th of this month, and was briefed on the latest services and benefits offered by banks to the public. 

The Central Bank of Iraq, 
Media Office, 
July 15, 2023

https://cbi.iq/news/view/2378

Clare:  The Central Bank indicates two challenges with more than 130 trillion dinars facing the Iraqi economy

7/15/2023

Deputy Governor of the Central Bank, Ammar Hamad considered, on Saturday, that the financial deficit in the budget and the internal debt, which amount to more than 130 trillion dinars, represent two challenges facing the country's economy.

Hamad said in a speech during the Sixth Annual Conference on Finance and Banking Services, which was attended by the Shafaq News Agency correspondent, that the Central Bank of Iraq has an essential role to cover the economy and financial and economic stability, which this year witnessed many and many changes to contribute towards achieving stability in Iraq.

He added that there are great opportunities for the economy, including the gross domestic product and the surplus in the budget law and international oil prices, and despite these opportunities, there are challenges, including the approval of the budget law in a very large size, with public expenditures reaching 198 trillion dinars as planned for this year, with a fiscal deficit. It amounted to 64 trillion dinars, and this in itself is a challenge for the economy and the Central Bank of Iraq in particular.

And Hamad added that there is another challenge, which is the internal debt, which amounted to about 70 trillion dinars. The challenge is facing the monetary authority, as well as the financial mechanism for managing this debt, because it represents great pressure on the various monetary policy tools.

He also said that in the previous edition of the conference, we mentioned the importance of electronic payment and represented it from an important performance to achieve economic growth, financial inclusion and financial depth, and we mentioned that there must be a compulsion to adopt its tools, as it was achieved this year through the great support of the current Iraqi government and efforts Launched by the Central Bank of Iraq, and as you know many of them, especially forcing public and private institutions to use electronic payment tools.

And the Deputy Governor of the Central Bank increased by saying: We have recently witnessed a great movement by the public sector as well as the private sector in adopting electronic payment tools, and this is a very important thing for achieving economic growth and financial affairs in Iraq.

He also pointed out that in this regard, we note that there is an increase and rise in electronic payment tools, various cards, from 6 million cards to 16 million cards, as well as an increase in the number of payment devices from 918 devices to more than 10 thousand devices.

He noted the increase in the number of automated teller machines (ITMs) from 656 to more than 2,000, which is constantly increasing. Also, there is an increase in the number of open and active electronic wallets from 222,000 to more than 3 million, which represents a real shift for the sector.

For his part, Representative Muhammad Nuri said in a speech on behalf of the First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, during the same conference, “This conference is a prominent event that brings together academic, banking and specialists minds to come at an important time when the country is witnessing transformations and developments in the financial sector and banking services and contributes to development.” sustainable.”

He added that "financial and banking services play an important role in the Iraqi economy, and we realize the importance of sectors in supporting the economy."

In his speech, Mandalawi stated that "providing financing and credit for small and medium-sized companies and large projects contributes to the development of the business sector and the creation of new opportunities, which enhances economic growth and reduces unemployment, in addition to the banking sector playing an important role in improving the lives of citizens and providing banking services that are widely spread."

He continued, saying, "We have to focus on important issues by providing financial and banking services to enhance financial stability and combat corruption by enhancing transparency and improving the financial and banking system," noting that "the conference is an important opportunity to enhance the development of offering banking and financial services, and we in the legislative authority are working to strengthen the infrastructure Banking and finance and developing modern and innovative means to serve citizens.   LINK

Some "Iraq News" Posted by Clare at KTFA Friday 7-14-2023

KTFA: 

Clare:  Al-Amiri calls for a unified position for "Iraqi independence": An employee of the US Treasury controls us

7/13/2023

The head of Al-Fateh Alliance, Hadi Al-Amiri called, on Thursday, for a unified stance towards the US treasury measures.

Al-Amiri said in a speech at a memorial service, followed by Shafaq News Agency; That "it is shameful for us to be controlled by an employee of the US Treasury."

"I call on the political forces to take a unified stand for Iraq's independence," he added.   LINK

Clare:  More than 3,000 security personnel are deployed in the vicinity of the US Embassy in Baghdad, in anticipation of a demonstration by factions

7/14/2023

An official security source said, on Friday, that members of the security forces have deployed in the vicinity of the US embassy in the fortified Green Zone in the center of the Iraqi capital, Baghdad.

The source told Shafaq News agency that more than 3,000 security personnel arrived at the US embassy, ​​in anticipation of a demonstration by some Shiite factions, in protest against an American report published by "Middle East" newspaper, in which it said: America is planning to target some leaders of Shiite armed factions in Iraq.

It is noteworthy that supporters of the Iraqi Shiite factions affiliated with the Popular Mobilization Forces stormed, at the end of 2019, the outer wall of the fortified US embassy headquarters in Baghdad's Green Zone for the first time since its construction after the overthrow of Saddam Hussein's regime in the spring of 2003.

The raid took place in protest against the American air strikes that targeted the sites of the Iraqi Hezbollah Brigades, which resulted in the death and injury of dozens of fighters.   LINK

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Clare:  A large security deployment in the Green Zone, and the factions are preparing to demonstrate against the American embassy    LINK

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Clare:  CLOSURE OF THE GREEN ZONE AFTER CALLS TO STORM THE US EMBASSY

Friday, July 14, 2023   Baghdad 

Today, Friday, the Iraqi security forces closed all the gates of the Green Zone in central Baghdad.
 
The correspondent of the National News Center reported that, “The security forces’ closure of the gates of the Green Zone with cement blocks came after calls launched by the Al-Nujaba Movement to storm the US embassy in the Iraqi capital.
 
This call comes after US President Joe Biden threatened to “eliminate” the Movement’s Secretary-General, Akram Al-Kaabi.   LINK

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Clare:  Supporters of Iraqi Shiite factions demonstrate in protest against America's "interventions" and its "threat to liquidate their leaders"

7/14/2023

A demonstration was launched in the capital, Baghdad, on Friday, by supporters of Shiite factions, to protest against the "interferences" of the United States in Iraqi affairs and its "threat to liquidate their leaders."

Shafaq News agency reporter said that hundreds of supporters of the Shiite factions gathered at the gate of the Green Zone from the side of the suspension bridge, in protest against what they said were "the interventions of the US ambassador to Baghdad in Iraqi affairs."

The demonstrators chanted, "God is great, God is great, America is the great Satan."

Earlier today, Friday, a security source told Shafaq News agency that more than 3,000 security personnel had arrived at the US embassy, ​​in anticipation of a demonstration by some Shiite factions, in protest against an American report published by "Middle East" newspaper, in which it said: America is planning to target some Leaders of the Shiite armed factions in Iraq.

It is noteworthy that supporters of the Iraqi Shiite factions affiliated with the Popular Mobilization Forces stormed, at the end of 2019, the outer wall of the fortified US embassy headquarters in Baghdad's Green Zone for the first time since its construction after the overthrow of Saddam Hussein's regime in the spring of 2003.

The raid took place in protest against the American air strikes that targeted the sites of the Iraqi Hezbollah Brigades, which resulted in the death and injury of dozens of fighters.   LINK

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Angry demonstrations in front of the US embassy in Baghdad 

The head of the Al-Fateh Alliance, Hadi al-Amiri, announced on Thursday that the Iraqis must take a unified position for "their economic independence, after the security and political stability that Iraq is currently witnessing."

And he indicated, during a speech in his eulogy for one of the leaders of the Popular Mobilization Forces, that "it is unreasonable for an employee of the American treasury to control Iraq's funds."

It is noteworthy that the number of US forces present in Iraq is estimated at 2,500, and they are deployed in separate places, especially in some military facilities in Baghdad and the north of the country, according to the American "BBS" network.

Baghdad and Washington had agreed on the withdrawal of all US combat forces from Iraq by December 31, 2021, and that the security relationship between the two countries would completely move "to advice, training and intelligence cooperation."

Later, the Coordinating Committee for the Iraqi Resistance said, "The American forces are not serious about implementing the demand of the Iraqi people, which is related to the implementation of Parliament's decision to leave Iraq."

And she emphasized that "what you observe indicates the United States' insistence on keeping its occupying forces in the same bases," stressing that "the American dream of the occupation soldiers enjoying peace, and its rules of peace, will never be realized."  link

Clare:  The Governor of the Central Bank of Iraq receives a delegation from the International Finance Corporation (IFC)

July 14, 2023

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the International Finance Corporation (IFC) of the World Bank Group.

During the meeting, they discussed aspects of bilateral cooperation in the field of the banking sector and its development in line with global technologies, as well as presenting the latest developments regarding the strategic projects implemented by the Central Bank in cooperation with the International Finance Corporation (IFC).

The two parties discussed the sustainable financing project, which is a key factor in achieving the goals of sustainable development through offering banking products and services and developing banking operations in a manner that takes into account the elements of environment, society and governance (ESG), and financing, lending and investment activities, to achieve sustainable benefit for all concerned parties.

It is noteworthy that Iraq is the second Arab country to establish this project, while the Central Bank was praised by the International Finance Corporation for its fruitful efforts in making a significant impact on the Iraqi banking sector to contribute to preserving the environment and supporting sustainable growth and societal safety. 

His Excellency the Governor reviewed an initiative to establish a green bank that the Central Bank is working on implementing, while the delegation expressed their willingness to cooperate in the field of exchanging experiences and training to help establish this bank in line with the efforts of the Corporation and the Central Bank in supporting the private sector and medium and small projects, pointing to the openness of the Central Bank to all International financial and banking institutions in supporting Iraqi monetary policy. 

The Central Bank of Iraq,
Media Office, 
July 14, 2023   LINK

"Vietnam News" Posted by Henig at KTFA Thursday 7-13-2023

KTFA: Vietnam

Henig:  US state governor leads delegation to Việt Nam to promote trade

July 12, 2023 - 16:31

A visiting delegation from the US’s Nebraska state led by Governor Jim Pillen visited MM Mega Market in HCM City’s Thủ Đức City on July 11 to learn about what Vietnamese customers look for at the grocery store and distribution networks in Việt Nam.

HCM CITY — A visiting delegation from the US’s Nebraska state led by Governor Jim Pillen visited MM Mega Market in HCM City’s Thủ Đức City on July 11 to learn about what Vietnamese customers look for at the grocery store and distribution networks in Việt Nam.

Other members of the team include Nebraska Department of Agriculture Director Sherry Vinton, Chancellor Joanne Li of the University of Nebraska – Omaha and agribusiness executives, academics, and government representatives.

Bruno Jousselin, managing director of MM Mega Market Vietnam, and his staff shed light on the requirements of Vietnamese people and the prices they are willing to pay.

The delegation also had the opportunity to try some agricultural products, including durian, and was quite interested in the taste of Vietnamese fruits.

They also attended a food demonstration by MM chef brand ambassador Steven Long mainly with ingredients from Nebraska.

Pillen said: “We are in the centre of the United States and agriculture drives our entire economy.”

“Our objective is to help Nebraska businesses and companies make connections in the Vietnamese market. Nebraska has been able to cultivate some great relationships with quality Vietnamese businesses in the last several years, and we are hoping to expand upon that.

“Getting to visit MM Mega Market is a real treat. It is very informative to learn about what the Vietnamese customers are looking for at the grocery store and for us to see how our products are displayed. Understanding the two will allow us to cater more specifically to the desires of the Vietnamese consumers.”

The delegation has a goal of growing trade with a country that already buys goods worth almost US$1 billion from Nebraska.

"We hope to highlight beef from Nebraska, corn gluten, soybean meal and other quality agricultural products. Additionally, we will be promoting efforts to bring high-quality grain storage infrastructure from expert companies located in Nebraska to Việt Nam's fertile agricultural areas.

"Further, we have representatives from our University of Nebraska system that are looking to make connections at the Vietnam National University of Agriculture'" he said.

Nebraska is one of the biggest producers of cattle, pork, dairy, corn and soybeans in the US. — VNS    LINK

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Henig:  Google works with NIC and US Mission in Vietnam launch Google for Startups Accelerator

July 12, 2023 - 12:33

Việt Nam is becoming one of South East Asia's rising startup hubs as its online economy is forecasted to grow to US$50 billion by 2025.

HÀ NỘI — Google will continue its partnership with the Vietnam National Innovation Center (NIC) and the US Mission in Việt Nam.

The announcement came on Tuesday in Hà Nội as part of the programme "Google for Startups Accelerator".

The programme was conducted following the success of the ‘Google for Startups, Startup Academy-Vietnam’ programme last year.

It aims to extend support for the national digital transformation effort by providing intensive training, resources and mentoring networks for local startups to hasten their business development.

Việt Nam is becoming one of South East Asia's rising startup hubs as its online economy is forecasted to grow to US$50 billion by 2025, according to the "eConomy SEA report 2022".

Việt Nam is home to four unicorns to date and a total of 3,400 tech-savvy startups that are well-poised to develop sophisticated digital products and solutions.

The programme this year is built on the success of the Startup Academy that was first launched and implemented across the country in 2022 for 50 selected local companies from 16 key industries.

This year, the programme will zoom in on six key industries: education, retail, agriculture, fintech, healthcare and smart cities.

The ‘Google for Startups Accelerator, Southeast Asia’ is a three-month programme that starts with a five-day BootCamp followed by five follow-up online workshops leading to Graduation and Demo Day.

The cohort will receive mentoring from Google and leading industry figures throughout the period. Given the intensity, only 20 startups will be selected across the country to participate in the in-person boot camp to ensure Google and NIC will be able to provide in-depth support throughout.

The selected startups will also be inducted into Google’s global alumni network consisting of more than 1,000 startups from various regions.

To ensure more will be able to benefit from the content of the programme, Google and NIC will co-design open-access online workshops and will be accepting up to 200 additional startups.

Speaking at the event, Trần Duy Đông, Vice Minister of Investment and Planning said "The accelerator is solid proof of Việt Nam’s commitment to supporting the innovation and startup ecosystem which is shared by Google’s mission to raise up the startup community in emerging markets.

"By providing startups with essential resources to grow and succeed, we are nurturing the next entrepreneurial generation who would join hands to accelerate economic growth and make the country a global success.

"On top of that, the selected startups will be a part of the inventive startup community working towards a common goal to connect, collaborate and learn from each other.”

Thye Yeow, Bok, Head of Startup Ecosystem SEA said: “The launch of Google for Startups Accelerator today continues our long-term commitment to support this country's economic growth by fast-tracking local startup’s development through intensive training, mentorship, and networking opportunities for Việt Nam’s entrepreneurs.

"We are extremely excited to continue our partnership with NIC and the US Mission in Việt Nam to pool our resources together to help accelerate them to the next level, and eventually expand globally.

"While the accelerator is only accepting 20 startups, we will co-design and make available some of the group training sessions to the startup community. Up to 200 startups can apply to attend the online workshops. Collectively, Google, NIC and the US Mission in Việt Nam hope this will benefit the wider ecosystem.”

Last year's Google Startups Academy successfully wrapped up after 15 workshops and 283 hours of mentoring with experts and renowned mentors. One of the startups that joined the programme last year, Momby has scaled up its app with 35,000 users, while another, BenKon, successfully closed a seed round with their energy-saving solution.

Trương Minh Đạt, CEO and Co-founder of BenKon said after participating in the programme, they successfully secured their seed round with the participation of a venture capitalist.

Nguyễn Hồng Ngọc, CEO of Momby said Google for Startups was not just a leadership programme, it also provided startups with new knowledge and the latest technologies. They have the opportunity to become a part of a dynamic startup community where everyone is willing to collaborate for collective growth and success. — VNS    LINK

Henig:  Việt Nam contributes to global food security: MARD Deputy Minister

July 12, 2023 - 11:24

The target to reach US$10 billion from exports of vegetables and fruits can be fulfilled in the future despite a downtrend in the area due to industrialisation, urbanisation and other factors.

 HÀ NỘI — Việt Nam is contributing to ensuring food security not only for its own people but also for the wider region and the world, according to Deputy Minister of Agriculture and Rural Development Phùng Đức Tiến.

The agriculture deputy minister made this statement at a press conference this week in Hà Nội, acknowledging the agricultural sector as the "firm foundation" of the national economy.

The Ministry of Agriculture and Rural Development (MARD) held the press conference to release official information about the country's agricultural production and exports in the first six months of the year.

Tiến said the agricultural sector implemented a plan for the first six months of 2023 to address challenges, of which, the export market for agro-forestry-fishery products, mainly for wood and aquatic products, was a particular difficulty. 

He said the country still has much potential in agricultural exports and MARD will undertake flexible solutions to boost management, adapting to the new context and meeting the demands of the world market.

While ASEAN countries and the agriculture industry around the world is currently concerned about food security, Việt Nam has achieved impressive results in ensuring food security for its 100 million population while maintaining its standing in the global rice export market. 

"People often believe that over time, rice yield will decrease, but this year the situation did not happen because the MARD has learned from previous experience and promptly provided technical support for farmers," said the agriculture deputy minister.

Nguyễn Như Cường, Director of the MARD's Department of Crop Production identified current development trends, especially the migration of the workforce to urban environments, industrialisation and exploration in different crops, as causing negative impacts on rice production.

However, with the application of scientific and technological advances in seed and seedling cultivation, along with a timely respond to climate change, the country's agricultural sector is fully operational over the next six months of the year and in the next two years, ensuring both exports and domestic consumption. 

A report from MARD shows rice and other crop production in the first six months of the year achieved good results.

The whole country planted about 4.98 million ha of rice with an average yield of 67 quintals/ha, an increase of 1.8 quintals/ha, with output reaching 22.8 million tonnes.

Rice exports in the first six months reached 4.2 million tonnes, earning $2.32 billion, including $300 million in June. The average export price of rice in the first five months of 2023 was estimated at $517 per tonne, up 5.8 per cent over the same period in 2022.

Meanwhile, VNDirect expects the export price of rice to continue to increase in 2023 thanks to the increased demand for food reserves in many countries, and Việt Nam is also focusing on exporting high-quality, good-priced rice.

According to data from the General Department of Customs, in 2022, Việt Nam's rice exports were recovering from the impact of the COVID-19 pandemic, totalling 7.1 million tonnes, equivalent to $3.5 billion.

In the agricultural sector report, VNDirect said that rice demand will remain high in 2023 as political and economic uncertainties push up the demand for rice reserves. Besides this, climate change is still affecting rice supply in many countries, especially the Philippines, due to floods, and China, due to drought.

Analysts also expect rice export prices to continue to increase in 2023 thanks to increased demand for food reserves in many countries.

Việt Nam is focusing on producing high-quality rice to match global consumption trends since many rice-growing areas have switched to other more profitable crops.

MARD reported the area of agricultural land used for the 2022-2023 crop year in the country has decreased by 3 per cent compared to the previous crop.

Cường said although Việt Nam's cultivation area is not large but agricultural export value is not inferior to that of many other countries, with its agricultural products present in all countries and territories in the world.

In the first half of 2023, fruit and vegetable export turnover was estimated at $2.8 billion, including $950 million in June, up 2.6 times compared to June 2022.

The fruit growing area was about 1.22 million ha, up 2.7 per cent with an increase in output of many items such as mango, oranges, rambutan and lychee while the area used for industrial crops expanded to 2.2 million ha, up 0.3 per cent with output raising in pepper, rubber, cashew, and tea cultivation.

"The target to reach US$10 billion from exports of vegetables and fruits can be fulfilled in the future despite a downtrend in the area due to industrialisation, urbanisation and other factors," he said.

Tiến emphasised that fruit and vegetable exports have never been as high as they are now. "According to this growth momentum, it is certain that in 2023, the country's fruit and vegetable exports will reach over US$5 billion and if investment is more focussed on deep processing and market expansion, the figure of US$10 billion from will likely be achieved," he said. — VNS   LINK

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Henig:  Credit institutions expect positive demand for banking services

July 11, 2023 - 17:21

According to credit institutions, the liquidity of the banking system in the second quarter of 2023 remained solid and was more abundant than in the first quarter.

 HÀ NỘI — Credit institutions forecast the demand for banking services will be buoyant in the remaining months of this year, of which credit growth will reach about 4.4 per cent in the third quarter of 2023 and 12.5 per cent for the whole year, according to a survey of the State Bank of Vietnam (SBV).

SBV’s latest survey on business trends of credit institutions in the third quarter of 2023 released late last week showed the business situation of the banking system in the second quarter of 2023 improved much slower than the previous quarter while pre-tax profits grew slightly but also lower than expected.

According to the assessment of credit institutions, the demand for loans, payment services and cards, and deposits improved in the second quarter of 2023, but the number of credit institutions that saw the improvement was lower than the SBV’s previous survey.

Credit institutions forecast customers' demand for banking services will grow positively in the third quarter of 2023, but the rise will be at a slower rate compared to 2022. The demand for loans is expected to increase more than that of deposits.

Capital mobilisation of the whole credit institution system is expected to increase by an average of 3.2 per cent in the third quarter of 2023 and by 10.6 per cent in 2023.

Outstanding loans of the banking system are expected to increase by 4.4 per cent in the third quarter of 2023 and by 12.5 per cent in 2023, down by 0.6 per cent compared to the 13.7 per cent forecast of the previous survey.

According to credit institutions, the liquidity of the banking system in the second quarter of 2023 remained solid and was more abundant than in the first quarter. Credit institutions forecast the liquidity situation in the third quarter and the whole year will continue to be abundant compared to 2022.

Credit institutions also expect the average deposit and lending interest rates of the whole banking system to decrease by 0.31 and 0.42 percentage points in the third quarter, respectively; and decrease by 0.91 and 0.79 percentage points, for the whole year, respectively.

In the survey, they said the overall customer risk in the second quarter increased faster than the first, with 34.2 per cent of credit institutions identifying the overall customer risk currently being at a high level. A total of 48.2 per cent forecast the customer risk will increase in 2023 compared to last year.

According to the assessment, the ratio of bad debt to outstanding loans of the banking system showed a slight increase in the second quarter, but the rate is expected to decrease in the third.

Regarding the labour and employment situation of the finance and banking industry in the second quarter, although improving compared to the previous quarter, it did not reach the expected level. However, credit institutions expect the labour situation will be more positive in the third quarter of 2023 and the whole year. — VNS        LINK