KTFA Members “News and Views” Thursday 6-6-2024

KTFA:

Clare:  Nearly 80 trillion dinars disappear from the 2022 and 2023 budget.. Deputy: “No one knows where it went.”

6/4/2024 – Baghdad

Member of the Parliamentary Integrity Committee, Hadi Al-Salami, revealed today, Tuesday, that about 57 trillion Iraqi dinars remain from the 2023 budget, and no one knows where it went.

Al-Salami said, “The 2023 budget amounted to 206 trillion, the actual expenditure was 148 trillion, and the remaining 57 trillion. No one knows where that retained money went.”

He added, "There are 22 trillion in rounds in the 2022 budget as well, and no one knows where it went," noting that "there are problems and irregularities regarding the issue of actual revenues and actual expenses in the budget tables."

He explained, “The House of Representatives made many observations on the budget schedules that were passed without warning.”   LINK

GEGDinar: This is simply devastating. The entire world is looking at Iraq, and if they haven't been able to show that they can get ahold of their endemic corruption, then what. If I'm looking at investing in Iraq, or a company holding an infrastructure contract with the Iraqi government, I'm going to seriously second-guess my decision and look to exit stage left. If what Frank says is true and they decide to come out with an operational budget at 1,310 rate with no Investment Budget, their credibility will take a massive hit. imo

BM532:  I am fine with all of these "negative" articles on economists and "members" stating the disappearance if large sums of money and a less that satisfying budget. Kuwait did the same thing saying xyz and then come out with the new rate! IMO. I always said I would look for silence or little to know news, then what would be considered negative news, then BAM - the world celebrates. IMOx100

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DeepWoodz:  Ain’t no way. Parliament doesn’t control the money in the budgets.  I don’t even believe this is true. 

TSM:  Exactly my thoughts as well....WHO was allocating the funds to projects, etc...Seems like the floor is still pretty dirty and maybe instead of Sudani taking all of the victory laps he should have been paying more attention to the day to day operations of the gov't...IMO

DeepWoodz:  Fake news. Agreed. Back to the real stuff. Census almost done. Great timing. 

PJSMan:  I also agree ....it is fake news......if Sudani let 57 trillion  Dinars slip out the door on his watch.....while the dinar is at a program rate......then he does not have good systems in place .......sounds like controlled mis information…….OR If it is true, but Sudani already located the 57 Trillion .....and this is to expose Parliament there is no way he sets up a conference call/meeting to tell people that "57 Trillion is missing and I hope we can find it in the coming days" 

GEGDinar: So the way I look at this is what does this 57 Trillion that has disappeared tell people like the WTO, IMF, BIS, Word Bank, U.S Fed, global contractors, etc. about the condition of Iraq right now? Can they really be trusted? Or are they seeing a corrupt society that is unwilling to change? If Sudani and his government cannot resolve this case of the missing 57 trillion in "The Coming Days" then important entitles that I've mentioned will probably want to slam on the emergency brakes and bring everything to a halt.  I guess the next few weeks will show us how serious Sudani and his anti-corruption will be at going after whomever has perpetrated this crime. I pray this gets resolved quickly. If not, it's back to square one.

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Harlequinc3: Old timers, help me out here, I don't think I'm crazy. I distinctly recall way back when we thought the budget mattered under Maliki, a very similar situation came up -- X amount of dinar has gone missing from the leftover budget! The surplus is all gone! What can we do???

And I have a very strong memory of Saleh at the behest of Shabibi calmly replying there was a 'slush fund' of sorts that the excess funds from previous budgets went in to -- a set of separate accounts from what Parliament had -- they weren't lost, they were removed out of Parliament's hands, for all intents and purposes, to protect them. That 'discretionary fund' is what they used to run the government the next year because they could never get a real budget activated -- the operational budget Frank was talking about.

This was back when they were meeting day after day, walking out to protest Maliki, and never had quorum. I wanna say 2010-ish? Anyway, I am almost positive I remember the same scenario way back when, and a couple days later here's Saleh explaining, wow, don't worry, we're not THAT inept.

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Clare: Representative Hadi Al-Salami raises a parliamentary question about the fate of 57 trillion dinars in the 2023 budget

6/4/2024

Member of the Parliamentary Integrity Committee, Hadi Al-Salami, revealed today, Tuesday, that about 57 trillion Iraqi dinars remain from the 2023 budget, and no one knows where it went.
Al-Salami said in an interview with Al-Maalouma, “The 2023 budget amounted to 206 trillion, the actual expenditure was 148 trillion, and the remaining 57 trillion. No one knows where that retained money went.”

He added, "There are 22 trillion in the 2022 budget as well, and no one knows where it went," noting that "there are problems and irregularities regarding the issue of actual revenues and actual expenses in the budget tables."

He explained, "The House of Representatives made many observations on the budget schedules that were passed without warning."   LINK

Clare: An Iraqi economist criticizes the 2024 budget: operational par excellence

6/6/2024

Thursday, economic expert Nabil Al-Marsoumi criticized the federal budget for the year 2024, which is the largest in the history of Iraq, describing it as operational par excellence, considering that it is not part of the development plan.

 Al-Marsoumi told Shafaq News Agency, “The budget has abundant funds, amounting to 211 trillion Iraqi dinars, and this is a very large amount, but as is the case in previous Iraqi budgets, it was allocated to social care, salaries, and other expenses, and therefore it is an operational budget that does not change the quality and structure of the Iraqi economy.” .

 He added, "The budget is dependent on oil and the extent of the backwardness is large in the sectors of industrial and agricultural production and operational services. The budget was not part of the development plan, as there is supposed to be a development plan in the country every four or five years."

Al-Marsoumi continued, "There is no strategic tool that distributes oil revenues to the people and to the governorates, as the financial allocations to the governorates range between 7-20% of the budget."

He pointed out that "operational spending took up 74% of the approved budget, with about 95% on oil export imports, while investment spending amounted to 55 trillion dinars, including 1,321 projects, 470 of which were lagging in implementation due to the lack of financial allocations. The government is also completing implementation." Major projects related to infrastructure and other commercial and industrial projects that have important future economic roles, such as Al-Faw Port and the development road.”   LINK

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Clare: Plasschaert's replacement raises controversy.. Who is he?

6/6/2024   Baghdad - 

Arab reports revealed today, Thursday, that the United Nations has nominated the permanent representative of the Sultanate of Oman, Mohammed bin Awad, to fill the position of head of the UN mission in Iraq.

This comes after the UN Security Council unanimously approved ending the United Nations political mission in Iraq, and ending the duties of the head of the mission in Iraq, Jeanine Plasschaert.

A report by the Emirati network Eram, followed by Mawazine News, said, “There are some unnamed political parties that had reservations about the candidate, Muhammad bin Awad, and demanded that the United Nations bring in a foreign, non-Arab person for this position,” without disclosing the reasons for the rejection.
The Iraqi government had asked the Council, in a letter dated May 8, to end the mission of the United Nations Mission in Iraq at the latest by the end of 2025.

According to this request, the UN Security Council voted unanimously, last Friday, to end the United Nations mission in Iraq, which was established In 2003, which aimed to coordinate humanitarian efforts and post-war reconstruction efforts.
According to the resolution, the United Nations extended the mandate of the United Nations Assistance Mission for Iraq (UNAMI) for 19 months until December 31, 2025, and then developed a “transition and liquidation plan” in consultation with the Iraqi government to transfer its tasks and withdraw employees and assets.   LINK

KTFA Wed. Night CC: “FRANK26….6-5-24…….THE MEETING”

KTFA

Wednesday Night Conference Call

FRANK26….6-5-24…….THE MEETING

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#

https://www.youtube.com/watch?v=vt5CZqiyva0

Some “Wednesday News” Posted by Clare at KTFA

KTFA:

Clare:  Sudanese Advisor: Iraq's external debt has fallen to 9 billion dollars

6/5/2024 Baghdad

The technical advisor to the Prime Minister, Muhammad Sahib Al-Daraji, said that the value of foreign loans to Iraq amounted to about 9 billion dollars.

Al-Daraji added: “A specialized committee has been formed to reveal the amounts borrowed by Iraq from 2003 to the end of 2023.”

He pointed out that "the committee is monitoring where the money went and what projects were completed with these loans and which are still being completed? And what is lagging behind?"

The Sudanese advisor confirmed, "Iraq was able to cancel approximately 31 external loans, leaving those loans worth 8 billion and 900 million dollars."   LINK

Clare: Prime Minister: The coming period will be the beginning of major projects

6/5/2024

Prime Minister Muhammad Shiaa Al-Sudani confirmed: “The coming period will be the beginning of large projects.”  LINK

Ryan1216:  I pray a new rate is introduced along with the beginning of the major projects

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Clare:  FinTech in Iraq: How is Iraq reshaping its financial future?

6/5/2024

Financial technology (FinTech) has become a major driver of innovation in the global banking sector, providing innovative solutions to facilitate financial services and increase their efficiency.

In Iraq, banks have begun to adopt these technologies, which has contributed to improving customer experience and expanding the scope of financial services provided. The Iraqi Deposit Insurance Company plays an important role in supporting this trend, as it is a pillar of financial stability, by encouraging banks to adopt financial technology and providing a regulatory environment supportive of innovation.

Financial technology has demonstrated its ability to enhance financial inclusion in Iraq, as it can provide affordable and accessible financial services to wide segments of society, especially in remote and rural areas. Through mobile applications and online banking, individuals and businesses can access a variety of financial services, such as money transfers, paying bills, and obtaining loans, without having to visit bank branches.

The Iraqi Deposit Insurance Company is working to enhance the use of financial technology in Iraq, through cooperation with banks and financial technology companies to develop innovative solutions that meet the needs of the Iraqi market. The company is also working to provide the necessary regulatory framework to ensure the security and safety of digital financial services, and to protect consumer rights.  LINK

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Clare:  Iraq intends to purchase 8 air defense systems for $2.5 billion

6/4/2024  Baghdad - 

Military sources revealed, today, Tuesday, Iraqi negotiations with Korea, through which Iraq seeks to purchase the "M-Sam 2" anti-missile and anti-aircraft system from South Korea, as part of a deal that could be worth about 2.56 billion dollars. 

Iraq has expressed in an “urgent” request its desire to possess 8 systems of these air defense batteries, also known as “Xionggong-2,” according to the sources.

The Cheonggong-2 system provides effective defense against aircraft, cruise and ballistic missiles, intercepts incoming threats with direct collision, and features an advanced radar for simultaneous detection and tracking of multiple targets. It has an operating range of up to 40 km, and can confront missiles at altitudes of up to 15 km.   LINK

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Clare: The Iraqi budget is moving toward “publishing and disbursing” without presidential approval

6/5/2024

Member of the Parliamentary Finance Committee, Jamal Kujar, revealed on Wednesday an important step towards approving Iraq’s budget for the current year. 

Koger told Shafaq News Agency that the House of Representatives voted on the budget law schedules and sent them in an official letter to the Ministry of Justice for the purpose of publishing them in the Iraqi newspaper Al-Waqe’i.

He stated that the budget schedules do not need to be approved by the Presidency of the Republic, given that Parliament voted last year on the three-year budget law.

He added, after publishing the budget tables in the Official Gazette, the Ministry of Finance and the Ministry of Planning will disburse operational and investment expenses, allocations and financial dues to ministries, institutions, bodies and government agencies, in addition to disbursing the governorates’ dues as specified in the budget tables.

The Iraqi Parliament voted, the day before yesterday, Monday (May 3), on the budget schedules for the current year 2024.

The budget included securing scholarships for university and school students, and increasing employee allocations by 4 trillion to secure the salaries of employees, new appointees, and retirees, and implementing the terms of contracts, appointments, and those whose contracts were terminated.

It also included allocating an amount of one trillion and 250 billion dinars to secure the increase in retirees' salaries, and allocations for disbursing end-of-service rewards to civilian and military retirees.

As well as increasing social welfare allocations to include more than 650,000 new families, increasing the capital of the Real Estate Bank by 500 billion dinars to cover citizens’ lending requests for housing, and allocating an amount of 5 trillion dinars to secure farmers’ entitlements to purchase wheat and barley crops.   LINK

Clare: Signing a cooperation agreement between an Iraqi bank and a German institution to finance private sector projects

6/5/2024

Today, Wednesday, Prime Minister Muhammad Shiaa Al-Sudani opened the work of the second specialized workshop to support the private industrial construction sector, during which a cooperation agreement was signed between the Trade Bank of Iraq (TBI) and the German Export Credit Corporation, to finance private sector development projects, within the sovereign guarantees initiative. Governmental.

A letter of authorization was also signed to finance the project to establish a plate glass factory in the Najaf Governorate in the amount of 110 million euros, between the Iraqi Trade Bank and the German banks (Commars Bank) and (Aka Bank).

Mr. Al-Sudani viewed an exhibition that included the private industrial sector’s products of construction materials, praising the efforts made to provide them.

The Prime Minister said in his speech during the opening of the workshop that sovereign guarantees provided financial support from German, Italian and Japanese financial institutions, amounting to 200 million dollars, adding that there are understandings with the French side in the amount of 1 billion euros, for the construction of industrial projects within the sector. private.

He added that the steps of networking and implementing the ASYCUDA system are an important step in automating customs and facilitating the entry of goods, stressing that tax accounting procedures have witnessed a jump due to the facilities provided.

Al-Sudani went on to say, “We are on the verge of a qualitative shift in the procedures for registering companies within the electronic procedures,” noting that “a vision will be reflected in the form of procedures on the financing side and facilitating borrowing from banks.”

The Prime Minister revealed that the government is conducting a study to reform the Industrial Bank to be an effective tool in implementing plans and programs that drive industrial development.

He considered that these agreements are an important indicator of external contributions to the Iraqi economy, specifically in the industrial sector.

Al-Sudani continued by saying, "We are continuing in the housing and construction sector in general, and this requires extensive construction materials."

He concluded his speech by saying that the available factories for various construction materials cover only a quarter of the need according to the projects that will be undertaken, especially residential city projects.  LINK

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Clare: Al-Sudani: Understandings with France amounting to one billion euros to build industrial projects... and it promises a qualitative shift

6/5/2024

Today, Wednesday, Prime Minister Muhammad Shiaa Al-Sudani opened the work of the second specialized workshop to support the private industrial construction sector, during which a cooperation agreement was signed between the Trade Bank of Iraq (TBI) and the German Export Credit Corporation, to finance private sector development projects, within Government Sovereign Guarantees Initiative.

A letter of authorization was also signed to finance the project to establish a plate glass factory in Najaf Governorate in the amount of 110 million euros, between the Iraqi Trade Bank and the German banks (Commars Bank) and (Aka Bank).

Al-Sudani viewed an exhibition that included the private industrial sector’s products of construction materials, praising the efforts made to provide them.

He stressed, during his speech, that the main goal of this workshop is to emphasize the need for construction industries, pointing to government support for the industrial sector, and removing the problems and obstacles facing this vital sector, which represents a fundamental engine of the economy, and helps address the problem of unemployment by providing job opportunities, Noting that the support of the Ministry of Industry and industrialists and all the decisions required by the Council of Ministers are on their way to implementation, he confirmed that 8 projects are on their way to implementation in light of the provision of sovereign guarantees to support the private sector.

The Prime Minister referred to the important package issued by the Council of Ministers yesterday, which included measures related to supporting the industrial sector, including those related to providing land for the construction of projects, and providing the necessary fuel for operation. He stressed that the government has put in place measures to improve the business environment, expand electronic payment and collection, and improve Tax accounting procedures and automation of customs procedures.

Al-Sudani explained that this package was completed through discussion with the relevant departments as it was discussed in the Council of Ministers, and greater powers were granted to the competent departments in the Ministry of Industry to overcome any red tape or delay, and he directed that a periodic report be presented to monitor procedures in the event of obstruction or diligence. 

In appreciation of the Prime Minister’s position in support of industrialists, which resulted in a package of decisions taken by the Council of Ministers yesterday, the Federation of Industries decided that June 4 would be National Industry Day.

The following are the most important things that were stated in the Prime Minister’s speech during the opening of the workshop:

Sovereign guarantees provided financial support from German, Italian, and Japanese financial institutions, amounting to $200 million.

There are understandings with the French side amounting to 1 billion euros, for the construction of industrial projects within the private sector.

- Networking steps and implementing the ASYCUDA system are an important step in automating customs and facilitating the entry of goods.

- Tax accounting procedures witnessed a jump due to the facilities provided.

We are on the verge of a qualitative shift in company registration procedures through electronic procedures.

We have set a vision that will be reflected in the form of measures on the financing side and facilitating borrowing from banks.

We are studying the reform of the Industrial Bank to be an effective tool in implementing plans and programs that drive industrial development.

These agreements are an important indicator of external contributions to the Iraqi economy, specifically in the industrial sector.

We are working in the housing and construction sector in general, and this requires extensive construction materials.

The available factories for various construction materials cover only a quarter of the need according to the projects that will be undertaken, especially residential city projects. LINK

KTFA Tues Night CC: “FRANK26….6-3-24…..WEDNESDAY UB2B

KTFA

Tuesday Night Conference Call

FRANK26….6-3-24…..WEDNESDAY UB2B

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#

https://www.youtube.com/watch?v=U5ee2VRSY1c

Some “Monday News” Posted by Clare at KTFA 6-3-2024

KTFA:

Clare:  Parliament votes on the 2024 budget schedules

6/3/2024

The Iraqi Parliament voted today, Monday, on the budget schedules for the current year, 2024.

The hours before the vote witnessed controversy within the Parliamentary Finance Committee, as votes were taken twice on the budget tables due to disagreements.

And earlier; Member of the Parliamentary Finance Committee, Saad Al-Tobi, confirmed that the committee voted on the federal budget schedules for the year 2024 without making changes to them, indicating that two trillion dinars had been allocated for transfer between the exchange doors.  LINK

DeepWoodz:  We have a quorum and a vote. Confirmation that they are all ready to spend spend spend. 

Clare: Al-Mandalawi after voting on the budget tables: Parliament will follow up on disbursing the specified financial amounts

6/3/2024

The Acting Speaker of the House of Representatives, Mr. Mohsen Al-Mandalawi, congratulated the approval of the federal general budget schedules for the current year, stressing that the presidency made great efforts with the Parliamentary Finance Committee to expedite its completion and vote on it during the current legislative term, due to its importance in terms of its direct connection to the lives of citizens and its relevance. The document includes strategic, investment and service projects.

Al-Mandalawi said after the end of the voting session on the budget schedules: The House of Representatives will continue to exercise its oversight role to follow up on the disbursement of financial sums according to the specified schedules, and will not allow the people’s money to be lost or wasted, while he expressed his support for the government to continue implementing its reform and service program, and to complete the process of construction, progress, and achieving what is achieved. Dear citizens look forward to it.

The Acting Speaker of the House of Representatives appreciated the great role of the presidency and members of the Parliamentary Finance Committee in discussing and completing the federal general budget schedules for the year 2024, while expressing his thanks to the ladies and gentlemen of the House of Representatives for their valuable suggestions and their keenness to attend and vote on the budget schedules.  LINK

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Clare:  The Central Bank of Iraq stops 200 companies from dealing in dollars

6/3/2024

 Baghdad

Documents issued by the Central Bank of Iraq, obtained by “Baghdad Today”, today, Monday (June 3, 2024), showed a decision to stop 200 exchange and general trading companies from entering the currency auction without explaining the reasons.

To view the list of suspended companies, click here.     LINK

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Clare: After approving the budget... Al-Sudani sends a message

6/3/2024

Prime Minister Muhammad Shiaa Al-Sudani blessed, today, Monday, what he described as the “responsible step” of the House of Representatives, represented in approving the 2024 budget schedules.

Al-Sudani expressed his thanks and appreciation for the efforts of the Presidency of the House of Representatives, the political forces, the parliamentary committees, and the Finance Committee, Which completed the government effort, and what had previously been approved by the Council of Ministers, represented by the budget schedules (A, B, C, D, E, F).

Al-Sudani reiterated his emphasis on "continuing to implement the government program, which received the vote of the House of Representatives and the support of the political forces, in order to complete the goals and implement the priorities that represent, above all, the aspirations and demands of our Iraqi people that they wish the government to fulfill."

The Prime Minister called on the House of Representatives and the provincial councils to "strengthen the government's work by following up on the legislative and oversight efforts, which our government institutions, with all their arms and bodies, view as support for their work, a course correction, and a guarantee against corruption, deviation, and failure." LINK

Clare: The Sudanese financial advisor reveals the date of the government’s implementation of the budget schedules

6/3/2024

A financial advisor to Prime Minister Mazhar Muhammad Saleh revealed the date for the government’s implementation of the financial budget schedules for 2024 approved by the House of Representatives today, Monday.

Mazhar Muhammad Saleh told {Al-Furat News} agency, “Based on the effective constitutional path in issuing legislation, the start of the official implementation of the federal general budget schedules must be accompanied by its approval by the House of Representatives, based on the provisions of Article 77/Second of the Federal General Budget Law No. 13.” For the year 2023 (the tripartite budget), if that approval in the House of Representatives takes the form of (the law) or the form of the amendment to Law No. 13 of 2023 referred to above,

Then those amendments to the original law or the wording of the tables as a new law must in all cases be approved by chance.

The President of the Republic, and then it will be published in the Official Gazette so that the legal procedures can complete all their prescribed paths.”

He pointed out, "After that, the implementation or application phase begins immediately unless there are instructions for implementing the federal general budget schedules for the year 2024, which may be issued by joint instructions between the Ministries of Finance and Planning."

Saleh continued, "Despite this, the important aspect remains that the budget tables for the year 2024 are approved by the legislative authority and are accepted by legislators in the House of Representatives, and then the financial table for the year 2024 is issued and approved under any form of legislation in force, whether issued by a new law or a legislative decision." .

Ragheed   LINK

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Margarita:  Soooo maybe when it is published in the gazzette we get the rate change?  i mean frank said  it is a line item right?

BuckEyeTree:  If I remember correctly from the past, the Gazette is published on Wednesdays and Saturdays in Iraq. Frank is to have next UB2B on Wednesday.

Maybe that is just a coincidence, unless Frank needs to do a short sooner. You never how quickly things may happen in a good way with Sudani at the helm.

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Clare:  Parliamentary Finance for Nina: We approved the budget schedules as received from the government, except for the governorate allocations.

6/3/2024

The Parliamentary Finance Committee announced that the schedules of the general budget law will be passed as soon as a quorum is reached in the House of Representatives session scheduled to be held this evening, Monday.

The Vice Chairman of the Committee, Ahmed Mazhar al-Jubouri, stated in a statement to the National Iraqi News Agency ( NINA ) that “the Parliamentary Finance Committee met yesterday in the presence of most of its members,” 17 members representing the “Progress, Determination, Sovereignty, and Kurdish blocs,” and representatives of the coordination framework for the Asaib, Badr, and Sindh + 2 blocs in Hajj. The rest did not come."

He explained, “The committee voted absolutely on the general budget schedules after adding 2 trillion dinars to the governorates to be distributed according to population proportions.”

He added, "The tables have been completed and we have submitted the final version to the Presidency of the House of Representatives for a vote on it in today's session, Monday," noting that "Article 77 of the General Budget Law stipulates that the House of Representatives only approves the tables, and there is no so-called technical report for the committee on the general budget tables, other than "It's a novelty."

He continued to say, “The parliamentary committee, in agreement with the government, obligated the government to transfer an amount of two trillion dinars, and it is the one that determines the doors for the transfer” to the government, “and after the allocations to the governorates were 1.5 trillion dinars now, it has become 3.5 trillion dinars, which will be distributed according to the population proportions of the governorates.”

We continued: "We voted on the tables as sent by the government. We only addressed the problem of governorate allocations, but the rest of the paragraphs proceeded as they were received from the government."

Al-Jubouri confirmed, “The Finance Committee has completed its work technically, and will present the budget tables to the House of Representatives to vote on them or not,” noting that “the budget tables will be passed as soon as a quorum is reached within the House of Representatives session, and there is no new meeting of the committee related to voting on the budget tables.”    LINK

Frank26 and KTFA “News and Views” Sunday 6-2-2024

KTFA:

Frank26:  "THAT'S THE GOAL OF THE MONETARY REFORM!!!"............F26

Experts expect the dollar exchange rate to fall and reach parity with the official price

5/26/2024

Financial experts expected the parallel dollar exchange rate to fall and reach parity with the official price.

The economic advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that the dollar exchange rate in the parallel market was close to matching the official price, in conjunction with the increased ability of banks to meet the requirements of the Central Bank and its compliance with the rules of external transfer

While experts indicated in Financial Affairs indicated that, in accordance with government procedures and reforms through the application of the electronic currency transfer platform and the establishment of correspondent relations between Iraqi and foreign banks, its results may be reflected positively in controlling the parallel exchange rate and the black market. LINK

Frank26:  "EDDIE TOLD ME, THE WORLD BANK IS ON IRAQIYA TV NEWS DISCUSSING THE CHANGES OF THE IQD EXCHANGE RATE!!!"............F26

Professor Frank Gunter launches a new white paper on de dollarisation of Iraqi economy.

29th May 2024

‘Two Cheers for Iraq: The Dinar – Dollar Exchange Rate Challenges’ 

Professor Frank Gunter publishes a new paper commissioned as part of a series by IBBC’s advisory council on the challenges of de-dollarisation for Iraq. The Advisory Council members and IBBC members have actively contributed to the paper in the past 4 months. It will be presented online on the 18th June in a webinar and in person at the Spring Conference on 2nd July. The Arabic translation will be published soon.

Professor Gunter provides an analysis of the drivers of impact on the dinar exchange rate and examines how best to deal with the parallel market of dinars to dollars. He outlines the practical policy initiatives that should reduce the gap between the official and parallel exchange rates in the medium-term.

 In particular he lauds the Government of Iraq on its commitment to tackle corruption and to modernise the banking system in one fell swoop but warns of the pressure on the dinar exchange rate as budgets are overstretched and the new banking recipients (state banks) receive the liquidity to enable the economy to perform.

He writes ‘All three of these forces – the anti-corruption effort, the banking liberalization, and the lavish 2023-2025 budget – will create challenges for the management of the dinar exchange rate. One could argue that over the last two decades the Government of Iraq (GoI) had little control over its exchange rate; that exchange rate policy was determined by other sectors of the political economy in Iraq. But even if this is true, the level of the exchange rate and changes in that level are believed by many Iraqis and foreigners as providing valuable insight into the quality of economic management in Iraq.

This importance is exemplified by the current efforts to de-dollarize the Iraqi economy while there is excess demand for dollars. This excess demand is shown by a parallel exchange rate of roughly 1500 dinars per dollar compared to the official exchange rate of 1310 dinars per dollar.
An important cause of this exchange rate gap is that the GoI, with the strong encouragement of the U.S. Federal Reserve, is attempting to reduce the use of the U.S. dollar in both Iraq’s internal economy and its external transactions. Since 2003, the U.S. dollar has facilitated economic growth in Iraq by providing a widely accepted medium of exchange for purchases as well as a reliable store of value for savings. In the long run, whether de-dollarization will have a significant adverse impact on the Iraq economy will depend on how rapidly the GoI can increase both the efficiency of alternative mediums of exchange and the perceived security of alternative stores of value.’

The report is available here to download.

https://iraqbritainbusiness.or.....qi-economy

Together we build Iraq

The Iraq Britain Business Council brings together business, trade and investment from the UK and International companies, for the benefit of the Republic of Iraq and its members. Committed to a free, prosperous and diverse Iraq, IBBC creates strong relationships with Iraq, from Government to private companies, to benefit business, industry and the people of Iraq.

IBBC 

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Frank26:  "VERY IMPORTANT TOOL FOR THE MONETARY REFORM".............F26

Visa unveils new digital products

 5/29/2024

Today as part of the annual Visa Payments Forum in the Central and Eastern Europe, Middle East and Africa region, Visa unveiled a package of new products and services that drive a radical transformation in card services and meet the future needs of its customers, consumers, merchants and financial institutions throughout the region. 

As payment methods have changed over the past five years from what they were previously, these new innovations will provide unique payment experiences to create a qualitative shift in commercial and financial activity, including e-commerce, in-store shopping, and money transfers.

“The dramatic acceleration in the growth of digital payments across the Central and Eastern Europe, Middle East and Africa (CEMEA) region has significantly transformed the way we pay and collect money online and in stores,” said Andrew Torrey, Visa’s Regional President for CEE, Middle East and Africa. “

As we continue our mission In shaping the future of commerce, we are pleased to support our customers, partners, consumers and merchants with the next generation of pioneering digital payment experiences and today we unveil new card features and digital innovations that will provide consumers and merchants with more personalized, convenient, secure and comprehensive solutions.”

Visa offers a range of innovative solutions that support digital identity, seamless payment experiences, flexible payments, accepting digital payments for microbusinesses, and protecting the security of account-to-account payments. Additionally, Visa announced the launch of its new payments-as-a-service platform, Visa Pay, which provides world-class mobile experiences for digital payments and intra-remittance transfers across the Central and Eastern Europe and Middle East Africa regions. This platform includes a comprehensive set of payment capabilities, and allows banks to deploy innovative and rapid solutions including digital card issuance requests, payment initiation order management, click-through payment, fraud and risk management, digital wallet platforms, and many more.

The new products and services Visa unveiled today, which will begin rolling out later this year, include:

Flexible Visa credentials

The provision of flexible credentials from Visa will allow customers to switch between different payment methods using a single card, providing greater choice for customers who can now set specific payment criteria or choose one of the payment methods that include debit cards, credit cards, or pay in four instalments. , redeem reward points, or even pay in another currency. This service is scheduled to be available in the Central and Eastern Europe, Middle East and Africa regions in the coming months.

Accepting payments from micro business owners

With an estimated 120 million formal and informal small and micro business merchants unable to accept digital payments in the CEE region, Visa is developing new ways to enable digital payments using virtual cards and credentials. In this context, the company this year will provide new methods of payment via mobile devices to all merchants, including:

* USSD Push Payments: Allows digital payments via any mobile phone that supports this feature.

* Small Business Owner Acceptance: This allows money to be transferred from consumer to merchant through smartphone devices.

* Mobile tap: Any device can now become a point of sale (POS) by simply tapping a card or digital credential.

Visa Payment Passkey Service

Identifying people in the digital world has become very complex; This has naturally led to a significant increase in fraud, with online payment fraud today being seven times higher than in-person payments.

Based on the latest Fast Verification of Identity Online (FIDO) standards, the Payment Passkey service can confirm a consumer's identity and enable online payment through a quick scan of their biometrics such as their facial features or fingerprint. Visa passkeys replace one-time passwords or codes when shopping online, allowing for more seamless and secure transactions. This service also confirms the consumer's identity without interrupting the payment process, as well as enhancing security levels and reducing friction when paying digitally - through any device or website - globally.

Click to pay

Visa has launched Click to Pay to provide a more seamless and secure payment experience on a broader scale, where consumers only need their email, phone number or Visa payment passkey to complete online payments. Additionally, Visa will collaborate with card issuers in several markets around the world to enable Click to Pay and Visa Payment Passkey services on new Visa cards, reducing manual entry of card details and passwords from the moment you start using the card. The Click to Pay service is available today in the Central and Eastern Europe, Middle East and Africa regions.

Visa Protection for Account-to-Account (A2A) Payments

Visa processes more than 200 billion transactions annually and analyzes 500 data elements in each transaction to detect and stop fraud in real time. By collaborating with real-time payments (RTP) networks around the world and leveraging decades of experience, Visa is working to use artificial intelligence to reduce fraudulent attempts in account-to-account payments across these networks. Visa's P2P protection service has already identified 60% of fraud across real-time payments channels, which financial institutions in the UK and Latin America had not previously detected. This service is scheduled to be available in the Central and Eastern Europe, Middle East and Africa regions in the coming months.

Visa Pay platform

Visa Pay is a payments-as-a-service platform that allows banks to quickly launch a range of new digital services for consumers and sellers through their mobile banking apps to stay ahead of consumers' digital preferences. This platform enables digital card issuance applications, payment initiation order management, pay-per-click, risk and fraud management, tokenization, digital wallet platforms, and issuer processing through a partner.

This platform allows banks to enhance their applications on mobile phones, as consumers will enjoy world-class user experiences via mobile phone to complete digital payments and financial transfers, as well as enhance security levels and reduce fraud attempts. The Visa Pay platform is scheduled to be launched in the Central and Eastern Europe, Middle East and Africa regions in the coming months.   INK

Frank26:  "I BELIEVE IN MONDAY JUNE 3rd FOR THE BUDGET"..........F26

In the document.. The House of Representatives will vote next Monday on the budget schedules

 5/31/2024

 Representative Mustafa Sanad announced that the House of Representatives intends to vote on the financial budget tables for the year 2024.
Sanad published a copy of the session’s agenda and limited it to voting on the budget schedules, indicating that it will be held at three o’clock in the afternoon.

Sanad said, "The Finance Committee has not voted on the schedules and has not prepared its report" yet

TRANSLATION: 

Republic of Iraq House of Representatives

The fifth electoral session, the third legislative year, the first legislative term

In the name of God, the most gracious, the most merciful

Agenda for session No. (27), Monday, June 3, 2024

Republic of Iraq House of Representatives

Reading verses from the Holy Quran

- Voting on the amended schedules of the Federal General Budget Law No. (13) 2024

Attached are tables (A/B/C/D/E/F). (Finance Committee).

The session begins at three in the afternoon    LINK

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Frank26:  "ONCE AGAIN... I BELIEVE IN JUNE 3rd FOR MANY THINGS TO COME TOGETHER."........F26

Parliamentary Finance confirms the readiness of the budget tables for voting in Monday’s session

5/31/2024

The Parliamentary Finance Committee announced its readiness to present the federal financial budget schedules for the year 2024 in the Parliament session next Monday.

The head of the committee, Atwan Al-Atwani, said in a statement, a copy of which {Al-Furat News} received, “For days, the committee has continued to study and review the 2024 budget schedules, in detail, in order to complete them in the optimal manner, and to ensure the necessary financial allocations for all sectors,” adding, “After a series of meetings Intensive, during which we hosted the relevant ministers, today we are about to complete the task of discussing and reviewing the details of these schedules, in accordance with the Federal General Budget Law for the years (2023-2024).”

Al-Atwani continued, “The Finance Committee confirms its readiness to present its final report to the House of Representatives in next Monday’s session dedicated to approving the budget schedules and its annexes,” reiterating “the great keenness to enable the federal government to implement its service and development plans and programs in a manner consistent with its government program that the House of Representatives voted on.”

We also affirm our full support for local governments, by increasing their financial allocations and ensuring the continuity of funding for projects with the aim of improving the reality of services in all governorates.”  LINK

Friday “Iraq News” Posted by Clare at KTFA 5-31-2024

KTFA:

Clare:  Heavy security deployment near the Green Zone in Baghdad

5/31/2024

An Iraqi security source reported, on Tuesday, that security forces were deployed heavily in the vicinity of the “Green Zone” in the center of the capital, Baghdad.

The source told "Mawazine News", "Forces from the Special Division deployed near Al-Khadraa, Al-Jardiya, and Al-Dora, without knowing the reasons."

He pointed out that "the authorities have closed the gates of the Green Zone to the public, and only those holding badges (special cards for residents or workers in the area) are allowed to enter."   LINK

Clare: It will be approved in a “special” session.. Parliamentary Finance: There is no intention to return the budget schedules to the government

5/30/2024

The Parliamentary Finance Committee said on Thursday that it or the House of Representatives has no intention of returning the budget schedules for 2024 to the federal government.

Committee member Hussein Moanis explained to Shafaq News Agency, “Last Monday, the Parliamentary Finance Committee hosted the Ministers of Finance and Planning to discuss many topics related to the budget schedules, including answering the questions of the committee members regarding increasing the financial allocation to the ministries and reducing the funds allocated to the governorates.”

He added, "The two ministers answered the questions that were directed to them during their hosting in the committee," noting that "the increase in financial allocation to the ministries came due to the presence of retained funds for the ministries from last year."

Mu'nis stressed that "the project funds allocated to the governorates can be disposed of this year." He pointed out that "the Parliamentary Finance Committee will work to make financial transfers from the ministries to the governorates, in addition to reducing the percentage of the deficit present in the budget tables."

A member of the Finance Committee confirmed that “there is no intention to return the budget schedules to the government, and that the House of Representatives will discuss the budget law schedules and then they will be approved in a special session.”

The day before yesterday, Tuesday, the coordination framework stressed, during a meeting attended by Prime Minister Muhammad Shiaa Al-Sudani, the necessity of approving the budget schedules to achieve the interests of citizens and support the economic situation.

The 2024 budget, according to what Prime Minister Muhammad Shiaa Al-Sudani announced yesterday, Sunday, amounts to 211 trillion dinars, and employee salaries for the year 2024 amount to 62 trillion dinars, while the 2023 budget amounted to 199 trillion dinars and employee salaries amounted to 59 trillion dinars.

According to Al-Sudani, the revenues of the 2024 budget are estimated at “144 trillion and 336 billion dinars, while expenditures amount to 210 trillion and 936 billion dinars, while the deficit is 63 trillion and 599 billion dinars.”   LINK

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Clare:  Parliamentary Finance confirms the readiness of the budget tables for voting in Monday’s session

5/31/2024

The Parliamentary Finance Committee announced its readiness to present the federal financial budget schedules for the year 2024 in the Parliament session next Monday.

The head of the committee, Atwan Al-Atwani, said in a statement, a copy of which {Al-Furat News} received, “For days, the committee has continued to study and review the 2024 budget schedules, in detail, in order to complete them in the optimal manner, and to ensure the necessary financial allocations for all sectors,” adding, “After a series of meetings Intensive, during which we hosted the relevant ministers, today we are about to complete the task of discussing and reviewing the details of these schedules, in accordance with the Federal General Budget Law for the years (2023-2024).”

Al-Atwani continued, “The Finance Committee confirms its readiness to present its final report to the House of Representatives in next Monday’s session dedicated to approving the budget schedules and its annexes,” reiterating “the great keenness to enable the federal government to implement its service and development plans and programs in a manner consistent with its government program that the House of Representatives voted on.” We also affirm our full support for local governments, by increasing their financial allocations and ensuring the continuity of funding for projects with the aim of improving the reality of services in all governorates.”    LINK

Clare:  Al-Sudani: The path of development will restore Iraq's historical role in global trade

5/31/2024

Prime Minister, Muhammad Shiaa Al-Sudani, confirmed that the development road project means, according to current market equations and international trade movement, a link between the East and Europe through Iraqi and Turkish lands together.

Al-Sudani, during an interview conducted by Anatolia Agency, said: In the beginning, we must look historically at Iraq’s role in trade between the East and the West over many centuries, and I am not exaggerating if I say that since prehistoric times, Mesopotamia has been an easy trade corridor whose paths trade caravans prefer to follow. And standing and trading with its metropolises, cities and urban centres.”

He stressed that the path of development is essentially to restore this historical role, and the link between the port of Al-Faw and the Turkish border, according to the current market equations and the international trade movement, means a link between the East and Europe through Iraqi and Turkish lands together.”

The Prime Minister of Iraq explained that the region is witnessing conflicts and tensions that recede at times and escalate at other times, and this prompts us to focus efforts on projects that overlap in interests and overlap in benefits.

He added: The Development Road will provide an opportunity for the emergence of industrial cities on both sides of it, which will complement the trade passing through it. Later this year, we will inaugurate the first berths at Al-Faw Port, and the flow of goods through the Development Road route will begin initially.”

He continued, saying: All indicators, economic readings and feasibility studies, say that this corridor is the least expensive and fastest among the rest of the corridors. We do not say that it is an alternative, but rather regional and international trade really needs a path of development, as it is a linking project that promotes overlap in interests and causes of economic sustainability.

Following President Erdogan's visit to Iraq, Turkish Minister of Transport and Infrastructure Abdulkadir Oraloglu said that with the operation of the development road, the volume of trade with Iraq will increase from $20 billion to $30-40 billion.

Regarding the future volume of bilateral trade between Turkey and Iraq, which is currently estimated at about 20 billion dollars, the Prime Minister of Iraq said: The increase in the volume of bilateral trade with Turkey can be expanded vertically, but we are seeking vertical expansion as well. In short, this is the role of the Development Road Project and the projects attached to it. “.

He added: Experience and history have proven that the progress of a country alone and in isolation from its neighbourhood, is something that carries an unknown future despite all possibilities and conflicts. Therefore, we focus on increasing the capacity of exchange and actual partnership (with Turkey) is the guarantor of stability and deep, long-term relations.
He continued: In our relationship with our Turkish brothers, we also focused on one of the most promising sectors in investment and cooperation, which is the agricultural sector, and soon we will witness practical steps in this aspect, and the participation of Turkish companies.”

Regarding investments in Iraqi gas fields, the Prime Minister of Iraq said, in his interview with Anadolu: “Gas investment is a strategic test for Iraq, and our national wealth must be optimally employed in serving our people and development plans.”
He added: It is not possible to continue burning gas, firstly due to the waste of this wealth that can be benefited from, and secondly due to the environmental effects. We announced a special round of licenses to invest in gas fields.

He continued, saying: We plan for Iraq to be self-sufficient in domestic gas production within 3 years, and Iraq is moving confidently to be an important element in the gas market within 5 years, and we will achieve self-sufficiency in this material at the expense of electricity production.

The Prime Minister of Iraq said: Specialists know that the existence of a technological base for gas investment is at the same time a base for the broadest petrochemical industries, and this is what we seek.”

Regarding potential partnerships in these investments, the Prime Minister of Iraq indicated that the doors are open to every reputable and specialized company that wishes to participate in this sector, and we also welcome regional companies because they will expand the base of cooperation in other areas.

He added: It is important to understand that gas investment means providing additional resources for development in Iraq, which are resources that can be invested in various promising economic rights, and these areas will be open to the participation of Turkish companies and companies of other friendly countries.

Iraq's current production of natural gas is about 2.7 billion cubic feet, and according to previous estimates, Iraq has a reserve of 132 trillion cubic feet of gas, of which 700 billion cubic feet were burned, as a result of the weak ability to exploit it.

Regarding the flow of Iraqi oil, the Iraqi Prime Minister explained that stopping the pumping of Iraqi oil extracted from the fields of the Kurdistan region of Iraq is undoubtedly a loss for Iraq, and at least it is the loss of an expected benefit that can support development plans in the provinces of the region and strengthen the Iraqi economy as a whole.

He added: He added: We took the initiative to find acceptable settlements and legal solutions and solutions after a thorough legal study, but the matter is surrounded by a legal obligation, because the Federal General Budget Law requires calculating the cost of producing one barrel of oil in all fields to be within the national average of the cost of production, which is around $8 per barrel, according to what was announced. Federal Ministry of Oil.

He continued: But the Ministry of Natural Resources in the Kurdistan Regional Government, and within the contracts signed with the oil company operating there, the cost of production is calculated at around $26 per barrel, and we suggested to Imam that the budget law be amended, or that the agreements and contracts with these companies be amended.”

The Prime Minister of Iraq continued, saying: From this standpoint, companies stopped production, as the ban did not come from the federal government, and we are waiting for a solution to be found. The companies refused to amend the contracts, while the regional government agreed.

He explained that for these reasons, more work is required to find a legal solution that first ensures the rights of Iraq and its people to its wealth.

He added: As for transporting Basra oil through Turkish ports, the matter is subject to study and determining the economic feasibility first of all.

Currently, Iraq’s oil production is approximately 4 million barrels per day, according to data from the Ministry of Oil and the Organization of the Petroleum Exporting Countries (OPEC), while it imports about 25 million liters of gas oil, gasoline, and white oil daily, in addition to natural gas.

According to previous statements by Al-Sudani, Iraq intends to be self-sufficient in oil derivatives, stop imports, and save $3.2 billion. LINK

KTFA Thurs.Night CC: “FRANK26….5-30-24…..M R BREAKDOWN”

KTFA

Thursday Night Conference Call

FRANK26….5-30-24…..M R BREAKDOWN

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#

https://www.youtube.com/watch?v=4VdXtxIH-T4

Some “Iraq News” Posted by Clare at KTFA 5-30-2024

KTFA:

Clare:  Professor Frank Gunter launches a new white paper on de dollarisation of Iraqi economy.

29th May 2024

‘Two Cheers for Iraq: The Dinar – Dollar Exchange Rate Challenges’

Professor Frank Gunter publishes a new paper commissioned as part of a series by IBBC’s advisory council on the challenges of de-dollarisation for Iraq. 

The Advisory Council members and IBBC members have actively contributed to the paper in the past 4 months. It will be presented online on the 18th June in a webinar and in person at the Spring Conference on 2nd July. The Arabic translation will be published soon.

Professor Gunter provides an analysis of the drivers of impact on the dinar exchange rate and examines how best to deal with the parallel market of dinars to dollars. He outlines the practical policy initiatives that should reduce the gap between the official and parallel exchange rates in the medium-term.

In particular he lauds the Government of Iraq on its commitment to tackle corruption and to modernise the banking system in one fell swoop but warns of the pressure on the dinar exchange rate as budgets are overstretched and the new banking recipients (state banks) receive the liquidity to enable the economy to perform.

He writes ‘All three of these forces – the anti-corruption effort, the banking liberalization, and the lavish 2023-2025 budget – will create challenges for the management of the dinar exchange rate. One could argue that over the last two decades the Government of Iraq (GoI) had little control over its exchange rate; that exchange rate policy was determined by other sectors of the political economy in Iraq. But even if this is true, the level of the exchange rate and changes in that level are believed by many Iraqis and foreigners as providing valuable insight into the quality of economic management in Iraq.

This importance is exemplified by the current efforts to de-dollarize the Iraqi economy while there is excess demand for dollars. This excess demand is shown by a parallel exchange rate of roughly 1500 dinars per dollar compared to the official exchange rate of 1310 dinars per dollar.

An important cause of this exchange rate gap is that the GoI, with the strong encouragement of the U.S. Federal Reserve, is attempting to reduce the use of the U.S. dollar in both Iraq’s internal economy and its external transactions.

Since 2003, the U.S. dollar has facilitated economic growth in Iraq by providing a widely accepted medium of exchange for purchases as well as a reliable store of value for savings. In the long run, whether de-dollarization will have a significant adverse impact on the Iraq economy will depend on how rapidly the GoI can increase both the efficiency of alternative mediums of exchange and the perceived security of alternative stores of value.’

The report is available here to download.

https://iraqbritainbusiness.or.....qi-economy

Together we build Iraq

The Iraq Britain Business Council brings together business, trade and investment from the UK and International companies, for the benefit of the Republic of Iraq and its members.

Committed to a free, prosperous and diverse Iraq, IBBC creates strong relationships with Iraq, from Government to private companies, to benefit business, industry and the people of Iraq.

IBBC 

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Clare:  Al-Sudani announces the opening of 48 electrical power transmission stations throughout Iraq

5/30/2024

Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani announced the opening and operation of 200 electrical stations throughout Iraq’s regions and cities.

Al-Sudani’s media office stated in a statement that the latter opened and operated “48 electrical power transmission stations for ultra-high and high pressure, and 152 electricity distribution stations throughout all governorates of Iraq, within the first phase of a package of projects to resolve bottlenecks in electricity transmission and distribution networks in Baghdad and a number of governorates.”  LINK

Clare:  Hisham Al-Rikabi confirms the government's interest in restoring Iraq's status on the Arab and international levels

5/30/2024

Member of the Board of Commissioners of the Media and Communications Commission, Hisham Al-Rikabi, confirmed today, Thursday, the government’s interest in restoring Iraq’s status on the Arab and international levels.

Al-Rikabi said in a blog post on the “X” platform: “The decision to choose Iraq to head the Council of Arab Information Ministers and to host Baghdad for its fifty-fifth session came as a result of the government’s interest in restoring Iraq’s position on the Arab and international levels and the keenness of the Media and Communications Commission to develop this sector and continue consolidating the foundations of freedom of opinion and expression.” In the country."  LINK

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Clare:  Sudani: Receiving international events reflects the state of stability in Iraq

5/30/2024

Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani expressed his appreciation for the distinguished results of Iraq in the West Asian Athletics Championships held in Basra, stressing that the reception of international events reflects the state of stability in the country.

Al-Sudani said in a tweet on his website on the “X” platform: “Greetings to the athletics champions as they reap distinguished results in the West Asian Championship for women and men, which is hosted by Basra Governorate with the participation of several Arab and Asian countries.”

He added, "Hosting Arab and international sports events, in Baghdad, Basra, and our beloved governorates, reflects the state of stability that our country is witnessing in various fields, and enhances government support for the plans and programs that we have directed to advance the sports sector in general."   LINK

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Clare:  Iraq executes 8 terrorists

5/30/2024

A security source led by the Dhi Qar Governorate Police said today, Thursday, that the Ministry of Justice carried out the death sentence against 8 terrorists in Nasiriyah Central Prison, known as “Al-Hout” Prison.

The source stated, "Today, a team from the Ministry of Justice supervised the execution of the death sentence against 8 ISIS terrorists in Nasiriyah Central Prison (Al-Hout)," pointing out that "among those carrying out the death sentence was a terrorist nicknamed (Al-Sumaidaie)."

The source stated, "The implementation of the death sentence against the terrorists came after their rulings became final and were approved by the President of the Republic." LINK

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Clare:  Customs explains the importance of implementing the single window system

5/30/2024   Baghdad - IA - Hassan Al-Fawaz

The General Authority of Customs confirmed today, Thursday, that work is underway to implement the single window system, while indicating that the system simplifies procedures for the importer and exporter, and contributes to facilitating the movement of legitimate trade.

The head of the authority, Hassan Al-Ugaili, told the Iraqi News Agency (INA): “The authority works with two systems, the developed electronic declaration system that is applied in 6 centers, and the Asycoda system, which will replace the electronic declaration system.”

Al-Ugaili explained, “The Authority has begun implementing the ASYCUDA system, which is an international system, more reliable and more robust, and therefore it will replace the electronic declarations system in all those centers, but it will be implemented successively.”

He added, "The authority is working on a single window system, which is linking all state institutions concerned with customs work in one window, so the work will be completed faster and more accurately."

He stated that "the system will simplify procedures for the importer and exporter, and will contribute to facilitating the movement of legitimate trade," adding, "This is one of the stages of the ASYCUDA system, which is access to the single window for trade."  LINK

KTFA Tues. Night CC: “FRANK26…5-28-24…….FX”

KTFA

Tuesday Night Conference Call 

FRANK26…5-28-24…….FX

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#

https://www.youtube.com/watch?v=pwkZkjYhLB4

KTFA Sun. Night CC: “FRANK26….5-26-24….DID YOU MISS ME?!”

KTFA

Sunday Night Conference Call

FRANK26….5-26-24….DID YOU MISS ME?!

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#

https://www.youtube.com/watch?v=3pX3tE09dCo