Iraqi News Highlights Sunday Late Evening 6-11-23

Iraqi News Highlights Sunday Late Evening 6-11-23

Tlm724 Administrator Bondlady’s Corner

A Parliamentarian Announces A "Victory" For The Local Industry In The Iraqi Budget

Economy    Breaking    Public budget    Iraqi parliament    Iraqi industry  2023-06-11   Shafaq News/ The Parliamentary Labor and Social Affairs Committee described today, Sunday, the parliament's vote for Article 32 of the public budget as "a victory" for the local and industrial industry, while  the Iraqi Industries Union called for supporting and implementing this article.

The Chairman of the Committee, MP Hussein Arab, said during a press conference held in the Parliament Building, and was attended by a correspondent of the Shafaq News Agency, that the

House of Representatives voted on Article 32 first and second, which concerns the national and local industry, giving some privileges to government and mixed companies, and exempting some customs matters from the raw materials included in the Iraqi industries.

Arabs added that Article 32 Second obliges all ministries and institutions that are not related to the Ministry, Governorates and Sectors to buy their needs from the national local industry and the mixed private and government sector.  He added, that

this is a victory for the local and industrial industry, where the article has been voted on and

we hope that there will be a response from the ministries and bodies that are not related to a ministry, and

we also hope that there will be cooperation between the Iraqi Industries Union and government sectors.

For his part, the head of the Iraqi Industries Union, Adel Ajab, said during the press conference that Article 32 Second obliges all ministries and the public sector to purchase from the private sector, indicating that the previous decision was from public companies, most of which were used as commercial partnership contracts and today the national product within this article has become obligatory To buy by all ministries

https://shafaq.com/ar/اقتصـاد/برلماني-يعلن-نصرا-للصناعة-المحلية-في-الموازنة-العراقية

Parliamentarian: Approval Of The Oil And Gas Law Will End The Kurds' Rebellion Against Budgets

Information / special.   Today, Sunday, a member of the House of Representatives, Jassim Al-Moussawi,

called for the movement of political blocs to expedite the completion of the legislation of the oil and gas law for the Kurdistan region, while

stressing that the disputes over exporting the oil of the Kurdistan region will not end by adding the paragraphs of Article 14 that were voted on in the budget.

Al-Musawi said in an interview with the information agency,

"The obstacle of agreement with Kurdistan regarding revenues and oil export continues in all budgets since 2003 until now."  

And he added, "The disputes over exporting Kurdistan's oil will not end by adding the paragraphs of Article 14 that were voted on in the budget," pointing out that

"the region wants to continue to shirk the obligations it has to hand over oil and gas export revenues."   Al-Moussawi concluded,

"The official approval of the oil and gas law during the next stage will avoid the political blocs obstructing and delaying the approval of the upcoming budgets."

The House of Representatives succeeded during yesterday's session in voting on

Article 14, which deals with the deposit of oil export revenues,

in addition to a paragraph that obliges the government to pay the salaries of the region's employees directly in the event that the Kurdistan government does not send it, as well as

the region's commitment to hand over oil and gas revenues to the government. Central directly.

https://almaalomah.me/news/politics/برلماني:-إقرار-قانون-النفط-والغاز-سينهي-تعطيل-الاكراد-للمواز

Technology For Peace Issues Clarification On The 'Silk Road' Project

Friday, June 2, 2023  Baghdad / The National News Center  Technical for Peace issued a clarification regarding the Silk Road project, in which it stated:

During the past days, several statements were made about the Chinese Silk Road project, including what was stated by the current Minister of Transport (Razzaq Muhibis Al-Saadawi) during an interview with him on Al-Iraqiya TV. News at the end of May 2023, he met with the ministry’s staff and

it became clear that there is no Chinese Silk Road project in the ministry, after he demanded the project’s priorities, he said.

This was confirmed by the Sudanese adviser (Nasser al-Asadi) when he stated,

“The Silk Road is a political attraction between America and China. The

plans on Facebook are not real, the plans do not exist,” during an interview with him on (Al-Janoub TV) in May 2023.

While the Sudanese advisor (Hussein Allawi) had a slightly different opinion when he mentioned, during an interview with him on the (Dijlah satellite) channel, that the

Silk Road “touches the northern borders of the Kurdistan Region” and is not within its borders, after he obtained a map from a translated magazine while he was in Morocco. 2019, as mentioned.

These publications and statements circulated on social media in conjunction with the “Development Road project" announced by the current Prime Minister, Muhammad Shia’ al-Sudani, which is

supposed to link the large port of Faw in southern Iraq with Turkey to reach Europe,

with the participation of 10 regional countries (Saudi Arabia, Turkey, Syria, Jordan, Kuwait, Bahrain, Qatar, UAE, Iran, Oman, in addition to representatives of the European Union and the World Bank), during a conference held in Baghdad on May 27, 2023.

Therefore, he decided for us to mention what was circulated of local political news and topics It was put forward during the past years until the present time about the Chinese project and Iraq's relationship with it.

The Belt and Road (Chinese Silk Road and the Maritime Silk Road Initiative for the Twenty-First Century), an initiative launched by China in 2013 with the aim of expanding its trade ties by reviving the ancient historical road that linked East with West.

Through this project, China seeks to link Asia with Europe.

This initiative includes a land and sea route, with the participation of 147 countries and about 70% of the world's population, including 18 member states of the European Union working within this initiative.

According to the available maps, Iraq is located on the land road, as the road passes through the northern part of the country.

In 2015, the former Iraqi Prime Minister Haider al-Abadi visited the Chinese capital, Beijing, and signed several agreements and memorandums of understanding (economic, diplomatic, military, technological and military).

The first memorandum of understanding included “participation in building the economic belt of the Silk Road and the Maritime Silk Road for the twenty-first century.”

It is noteworthy that the Chinese ambassador to Iraq (Chen Weiqing), during a speech he delivered at the cultural event of the Silk Road organized by the Iraqi Ministry of Culture in 2018, explained that

“Iraq is one of the first Arab countries to sign cooperation documents with China regarding the Belt and Road Initiative.”

Then, in 2019, (Adel Abdul-Mahdi) visited China for five days when he was serving as Prime Minister, during which he signed memorandums of understanding and agreements related to infrastructure, including the Silk Road.

During the same year, (Haider Al-Tamimi), deputy director of the Historical Research Department at the Iraqi Research Center, stated that the Belt and Road Initiative is of “great importance for the reconstruction of Iraq after the war.”

And the former Minister of Transport (Abdullah Laibi) mentioned during one of the meetings of the Diwaniya Committee, the possibility of accelerating the procedures for Iraq’s accession to the Asian Investment Bank for Infrastructure in order to “finance the implementation of roads, bridges, ports, airports and railway projects along the New Silk Road,” indicating the efforts of the parties Concerned for Iraq's accession to the initiative.

At the time, Luaibi called for a joint workshop between Iraq and China to reach a "clear road map in the coming days."

And under the government of Mustafa Al-Kazemi, the Minister of Transport at the time (Nasser Al-Shibli) confirmed in 2020 that the connection of the Silk Road project with Iraq depends on the completion of the Al-Faw port project in Basra, stressing,

“If it is completed, Iraq will be the center of the (Silk Road) that China is working on to link Europe in Asia.”

While Representative (Ali Turki Al-Jamali) considered that (Al-Kazemi) returned from the Jeddah summit by “killing” the Silk Road, “because America declared that we will not leave a place for China and Russia,” he said.

A member of the Iraqi Parliament for its current session (Saud Al-Saadi) participated in a tweet with several documents, which he explained were related to a memorandum of understanding between the government of Iraq and the Chinese government, regarding “participation in advancing the construction of the economic belt of the Silk Road and the Maritime Silk Road for the twenty-first century.”

During a meeting between the Chinese Ambassador to Iraq (Cui Wei) and the Iraqi (Sudanese) Prime Minister, the ambassador stated that

"the development project is very important to Iraq, and it will be the path to peace and prosperity in the region, and it will become a complement to the Belt and Road project," expressing his desire to review the feasibility study. The economics of the project, and China's readiness to provide technical advice for the completion of this vital project, according to a statement transmitted by Al-Sudani's office on June 1, 2023.

In conclusion to our topic and through all that we touched on, it turns out that the Silk Road project in Iraq is still unknown.

Some parties confirm the existence of agreements and treaties for the project between Iraq and China, while  other parties confirm that the project does not exist in Iraq on the ground. https://nnciraq.com/208967/

The National: The Salary Budget Is Facing Investment...And The Government May Face Funding Problems

Politics / Economics | Baghdad Today – Translator   The National Network announced in a report published today, Sunday, that the Kurdish differences are not the only reasons that still hinder the approval of the official budget for the next three years in its entirety, noting that

the differences between the political blocs and specialists revolve around the nature of the budget.

The magazine stated in a report translated by (Baghdad Today), that

the current budget, which it described as "the largest in the history of Iraq," is witnessing continuous disputes between parties that it considers "negatively affecting" the country due to the large number of jobs and salaries that require provision through it,

and between those who see it as a budget. An investment that will provide an unprecedented opportunity for reconstruction in the country.   And she continued,

"The current budget at a value of 153 billion US dollars will witness an operating spending rate of 101 billion dollars, while the share of investment will be only 37 billion dollars," stressing that

the budget will be exposed to a large deficit rate with which the government will fail to provide salaries in the event that the price of a barrel of oil falls below seventy dollars..

Concern about the drop in dollar prices, indicated by the network, is that it is faced by critics by emphasizing the existence of a protection network provided by Iraq’s gold reserves, which reached 132 tons, as

Iraq occupies the thirtieth place in the world with the most gold in the world, according to the statements of the Central Bank of Iraq, which also indicated To the fact that

it is necessary to protect the economy from the effects of dollar inflation and exchange rate fluctuations, despite its official adoption so far as an alternative to oil prices.

It is noteworthy that the Iraqi parliament has been voting for four days separately on the paragraphs of the general budget for the current year and the next two years until 2025, as the network confirmed that

the budget has become "necessary" to

secure Iraq's access to food, in addition to

providing the requirements for the reconstruction of vital infrastructure, according to its description.

https://baghdadtoday.news/223690-ذا-ناشيونال-موازنة-الرواتب-تواجه-الاستثمار.-والحكومة-قد-تواجه-مشاكل-في-التمويل.html

Requirements For My Site Detection Requirements

June 11, 2023     The Central Bank of Iraq decided that exchange companies for the two categories (A) and (B) and exchange companies operating in the Kurdistan region of the two categories (A) and (B) under establishment to provide the construction and professional health and safety certificate for the main headquarters buildings and branches of companies that are opened in the Kurdistan region as One of the requirements for the website examination.   https://cbi.iq/news/view/2355

The Activity Of Anwar Al -Diwaniya Company To Mediate With The Sale And Purchase Of Foreign Currencies

June 11, 2023    According to the Board of Directors of this Bank No. (87) of 2023, taken in its numbered session (1636) held on 4/26/2023,

it was decided to resume the activity of Anwar Al -Diwaniyah to mediate by selling and selling foreign currencies     https://cbi.iq/news/view/2354

Procedures   

June 11, 2023    Exchange companies for the two categories (A, B) are allowed to

provide us with a report of money laundering and terrorist financing in their companies, while

providing us with the processors and procedures taken to reduce these risks,

provided that we respond to the answer no later than (2023/7/1).   https://cbi.iq/news/view/2356

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Iraqi News Highlights Sunday Late Afternoon 6-11-23

Iraqi News Highlights Sunday Late Afternoon 6-11-23

Tlm724 Administrator Bondlady’s Corner

Financial expert: The dollar will not decrease against the Iraqi dinar with the approval of the budget

2023-06-11 By Sotaliraq  Financial expert Muhammad al-Hassani ruled out, on Sunday, the decline in the exchange rate of the dollar against the Iraqi dinar with the approval of the budget, stressing that the decrease and rise are linked to the procedures of the Central Bank.

Al-Hassani said, "The exchange rate has nothing to do with approving the budget, but rather it is monetary policy from the task of the central bank, whose procedures are supposed to lead to the stability of the exchange rate."

And he added, “Government spending with the approval of the budget will not lead to a decrease in the dollar, but on the contrary, as it will lead to an increase in the demand for the dollar because the government will spend new money for the new hires from the beginning of issuing their orders, which are salaries accumulated for more than 6 months, and this will lead to a mass Large cash will go down to the market and will be spent on various matters, and therefore this cash block will be transferred in dollars in the purchase process, because there is no national production.

Al-Hassani also pointed out that, “Some merchants have also, until now, been buying dollars from the parallel market to finance their trade, and they did not go to the bank to finance these imports for many reasons, which generated pressure on the market and an increase in demand for dollars.”

And he pointed out that "government spending will be open with the approval of the budget, because it was previously restricted to spending one on 12 because of the lack of approval of the budget and with its approval it will be open, and it is also spending and part of it must be met in dollars."

It is noteworthy that the price of the dollar against the Iraqi dinar decreased by more than two dollars with the imminent completion of the approval of the budget with all its paragraphs by the Iraqi parliament, to reach today, Sunday, 145900 compared to 100 dollars, after it was 147950 dinars compared to 100 dollars last Wednesday.   LINK

The Stability Of The Dollar Exchange Rates In Baghdad With The Closing Of The Stock Exchange

Economy  Sunday, June 11, 2023 Baghdad / The National News Center  The exchange rates of the US dollar against the Iraqi dinar stabilized today, Sunday, on the main stock exchange in the capital, Baghdad.

The correspondent of the National News Center said, “The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded an exchange rate of 146,100 dinars, compared to 100 dollars, while the prices this morning were 146,200 dinars.”

He added, "The buying and selling prices have stabilized in the exchange shops in the local markets in Baghdad, where the selling price reached 146,500 dinars, while the purchase prices amounted to 145,500 dinars per 100 dollars."   https://nnciraq.com/210527/

Al-Sudani Issues A Package Of Directives After The Emergency Session

Iraq   Sunday, June 11, 2023 Baghdad / National News Center  Today, Sunday, Prime Minister Mohamed Shia Al-Sudani issued a package of directives, after his emergency session.

The media office of the Prime Minister stated in a statement received by the National News Center: “The importance of the government program, which translates what was stated in the ministerial curriculum, and was voted on by the Council of Ministers, and the government’s keenness to adhere to its implementation.”

He added, "The Prime Minister appreciated the efforts of the ministers and all the staff and associates who contributed to the implementation of the program of their ministries, as well as the government program team that made great efforts and worked to develop scientific mechanisms for evaluation."

Al-Sudani referred, according to the statement, to “the difficulties faced by the ministries in implementing the program, foremost of which is the absence of a budget that provides a legal space for work, in addition to the financial allocations necessary to implement projects and programs that fall under the government program.”

And that "the emergency session witnessed a discussion of the report on assessing the level of performance of the ministries in implementing their obligations towards the government program, to enhance strengths, point out weaknesses and imbalances, and develop mechanisms to correct them."

And the Prime Minister directed, according to the statement, that “the five priorities are the basis for the government’s work, and make it a goal along with other goals, and the targets must be clear in light of those priorities,” stressing “the need to implement reforms in all ministries in a manner that supports the implementation of these priorities.”

He directed, “to examine the joints of imbalances and to diagnose the centers of corruption in each ministry so that they can be dealt with firmly, and to continue structural reforms, simplify procedures and bypass red tape.”

He also called for "giving priority in supporting the private sector, and continuing to hold meetings with it, to produce results that support the executive program of the ministries and achieve a difference in performance."

The statement referred to “the most prominent things that the Prime Minister spoke during the emergency session:

The government’s commitment to implementing its program is an important part of its credibility before the people and their representatives in Parliament.

The government program is a scientific plan to implement the government's goals according to the priorities that have been approved.

We appreciate the difficulties that the ministries faced during the past six months, due to the lack of a budget.

The absence of a budget was one of the main obstacles that prevented the implementation of some of the items and objectives approved in the government program.

We supported the ministries during the last period, in order to provide service and implement priorities within the available capabilities, which exist and enable each ministry or sectoral entity to provide an achiever that makes a difference in performance.

- The report that includes everything sent by the ministries will be prepared; To be sent to the House of Representatives and then presented to the public opinion.

- It is not important to establish a high success rate, but it is important to establish a real achievement rate, because this will contribute to establishing the required credibility between the government and the people.

We do not want to repeat previous mistakes that gave high achievement rates and were highlighted in the media, while the citizen did not find them tangible on the ground.

We will announce what has actually been achieved. If the achievement is 50%, we write it as it is. It is important that the percentage reflects what has been achieved during the past six months.

The government team was formed last November 8, and conducted 518 addresses, 85 meetings, and 12 training workshops.

In most of the sessions, we emphasized sending data and communicating with the team, because what was presented today is the summary of the work of the past period.

There were sub-teams in the ministries to formulate the program, starting with each ministry.

The Council of Ministers decided to approve the government program on December 12, 2022, and the team committed to preparing the semi-annual report on the scheduled date in June 2023, and we will write a summary of the final report to be approved in a subsequent session next week.

– Directing to update the data and the follow-up team to complete the report, in order to set a second session for its approval.   https://nnciraq.com/210503/

A Parliamentary Committee Calls For The Cooperation Of Government Sectors To Purchase The Local National Product

Sunday 11, June 2023 | Economical Number of readings: 157  Baghdad / NINA /- The Parliamentary Labor, Immigration and Displaced Committee stressed the need for ministries and agencies to cooperate with the Federation of Industries to purchase the local national product.

The head of the committee, Representative Hussein Arab, said in a joint press conference with the head of the Federation of Iraqi Industries today, Sunday, “The House of Representatives voted on Article 32, first and second, which pertains to national and local industry, giving some privileges to governmental and mixed companies, and exempting some customs matters from raw materials involved in industries.” Iraqi.

He added, "Article 32 second obliges all ministries and institutions not associated with a ministry, governorates and all sectors to purchase their needs from the national local industry and the private, governmental and mixed sectors," calling for the necessity of responding to ministries and agencies not associated with a ministry and government sectors, to cooperate with the Federation of Iraqi Industries.

On his part, the head of the Federation of Iraqi Industries, Adel Akkab, said, "Article 32 second, which obliges all ministries and the public sector to purchase from the private sector."

He explained, "The previous decision specified the purchase from public companies, most of which used commercial partnership contracts, but today it has become obligatory for all ministries to purchase the local national product."/ https://ninanews.com/Website/News/Details?key=1059005

The Ministry Of Planning: The Inflation Rate Decreased During The Month Of April

Money  and business  Economy News _ Baghdad  Today, Sunday, the Ministry of Planning announced a decrease in the inflation rate for the month of April by (1%), compared to the month of March, which recorded a decrease by (0.7).

And the official spokesman for the ministry, Abdul Zahra Al-Hindawi, stated, in a statement received by "Al-Iqtisad News", that "the Central Statistical Organization, by monitoring the variables, recorded an increase in the annual inflation rate in April of 2023, compared to the same month of last year, by (4%). )".

He added, "The reasons for the decrease in inflation during the month of April are due to the decrease in the prices of a number of departments, including the food and non-alcoholic beverages department, which decreased by (0.8%), the housing department decreased by (2.2%), and the transportation department decreased by (1.1%)." %), and the Goods and Services section decreased by (1%), while the percentage of decline in the Supplies and Equipment section amounted to (1.3%).

Views 28   Added 06/11/2023 - https://economy-news.net/content.php?id=34678

The Central Bank Announces The Volume Of Its Sales Of Dollars In Today's Trading

Baghdad - Mawazine News   Today, Sunday, the Central Bank of Iraq’s sales of foreign currency decreased, as it recorded 202 million dollars.

According to the schedule of the currency sale window, which was followed by Mawazine News, the Central Bank sold during its auction today 202,769,044 dollars, which the bank covered at an exchange rate of 1305 dinars, per dollar for documentary credits and international settlements of electronic cards, and at a price of 1310 dinars per dollar for external transfers, and at a price of 1310 dinars per dollar, respectively. monetary.

Most of the dollar sales went to enhance balances abroad in the form of (remittances, credits), amounting to 182,919,044 million dollars, while the remaining 19,850,000 dollars went in the form of cash sales.   https://www.mawazin.net/Details.aspx?jimare=228997

Iraq's Oil Exports To America Exceed 6 Million Barrels In A Month

Economy | 11/06/2023   Baghdad - Mawazine News  The US Energy Information Administration announced, on Sunday, that Iraq's oil exports to America amounted to more than 6.5 million barrels last May.

The administration said in a table it had seen, / Mawazine News /, that "Iraq exported crude oil to America during the month of May, 6.634 million barrels, with an average of 214 thousand barrels per day, up from the month of April, in which Iraqi oil exports to America amounted to 5,940. Millions of barrels, an average of 198,000 barrels per day.

She added, "Iraq exported crude oil to America during the first week of May, at an average of 174,000 barrels per day, while an average of 136,000 barrels per day was exported in the second week, and an average of 114,000 barrels per day was exported in the third week," noting that "the fourth week's exports amounted to An average of 430,000 barrels per day.

The US Energy Information Administration stated that "Iraq ranked fifth in its exports to America during the past month, after each of: Canada, Mexico, Saudi Arabia, and Colombia, and ranked second in the Arab world after Saudi Arabia, whose last exports to America amounted to 9 million and 517 thousand barrels," indicating that "Canada It ranked first as the most oil-exporting country to America, followed by Mexico.   https://www.mawazin.net/Details.aspx?jimare=228986

Oil Records The Second Weekly Loss

Economy |  10/06/2023  Baghdad - Mawazine News  Oil prices fell by more than a dollar a barrel, to record a decline for the second week in a row, as disappointing Chinese data added to concerns about demand growth after Saudi Arabia's decision to cut production.

Oil prices rose at the beginning of the week after Saudi Arabia pledged voluntary production cuts in addition to the cuts it had agreed upon earlier with the Organization of the Petroleum Exporting Countries (OPEC) and its allies.

But the gains were reversed after rising US fuel inventories and weak data on Chinese exports.

Some analysts expect oil prices to rise if the Federal Reserve (the US central bank) does not raise interest rates at its next meeting on June 13-14.

Analysts said that the Fed's decision may also affect Saudi Arabia's next move.

price move

Brent crude futures fell $1.17, or 1.5 percent, at settlement to $74.79 a barrel, and US West Texas Intermediate crude fell $1.12, or 1.6 percent, to $70.17 a barrel.

The two benchmarks lost more than $3 on Thursday after a media report indicated that the United States and Iran were close to reaching a nuclear deal, which would lead to an increase in supply. The two benchmarks cut their losses after both countries denied the validity of the report. Ended 29 / h

https://www.mawazin.net/Details.aspx?jimare=228887

To read more current and reliable Iraqi news please visit BondLady’s Corner:

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Goldilocks Sunday PM "Global independance Day?" 6-11-2023

Goldilocks and Seeds of Wisdom

Thank You RJ

Good afternoon Dinar Recaps,

Goldilocks posted links on the Iraqi Budget and some comments:

Per CBI Banker Contact in Iraq.

Iraq is currently working with JP Morgan and the Federal Reserve on migrating to the FEDNOW International payment system.

And, their banking employees are currently undergoing logistics training on the FEDNOW services.

© Goldilocks

Independence Day is just around the corner.

Could this turn into a Global Independence Day?

Time will tell.

© Goldilocks

Follow the Timeline of the Process and the Roadmap 

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The Parliament Bell Rang To Begin The Session To Complete The Vote On The Budget  06/11/2023

LINK

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Parliament Votes On Article 59 Of The Budget

WordPress LINK

8 more left

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A new evening in the Iraqi parliament sponsored by the budget, and two obstacles by passing

WordPress LINK

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The House of Representatives is now resuming the vote on the remaining articles of the budget bill

WordPress LINK

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XRP and the SEC go head-to-head next week.

Big news is expected in this long-awaited settlement case on the validity of XRP being able to trade freely.

When this case is finalized, look for XRP to take the lead in the new digital economy.

© Goldilocks

https://www.fxempire.com/news/article/five-things-to-know-in-crypto-next-week-sec-v-ripple-and-hinman-docs-1353559

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Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

Goldilocks "Isn't it amazing how July 1st 2023 keeps showing up" 6-11-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

Good morning Dinar Recaps,

Goldilocks posted news links and comments to help us understand where we stand:

Our next banking benchmark is June 19th, 2023. The Bank of England migrates to the ISO 20022. 

At this point, some of the largest banks in the world will be on board with the International Messaging System running inside our three Global Nation Payment Systems.

This will be a migration of one of the largest Banks around the world where cash flows run through internationally.

© Goldilocks

https://www.bankofengland.co.uk/payment-and-settlement/rtgs-renewal-programme/iso-20022

"Bank of America, Wells Fargo and JPMorgan Chase Close New York Branches in Three Months: What’s Happening?"

A friend of mine in the banking system shared with me about some of the new regulations that have recently come out. 

* Each bank has to have a certain number of accounts in it and a certain amount of money to keep it open. 

* Banks are required to give a 90-day notice for customers to be able to move their funds. 

This is one way to put pressure on people to learn how to use online banking. 

Some of these funds will go into digital currency accounts designed for investment purposes. 

Others will hold precious metals including 1 million copper pennies as we saw in yesterday's article. 

Watch your nickels and pennies closely. We are moving into a technological society my friends. Get ready.

I expect many changes to start happening by the first of the month at a very rapid pace.

© Goldilocks 

The Cleveland American LINK

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Cross Border International Trading digital mechanisms are still being updated and will be on an ongoing basis. 

The decentralization of our new monetary system will require scalability mechanisms that will allow digital money to move from one country to another at a very rapid pace. 

This will enable secure transactions of foreign currencies around the world. 

© Goldilocks

BSC News LINK

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"All licensed exchange companies of the two categories (A, B) are kindly requested to provide us with a report evaluating the risks of money laundering and terrorist financing in their companies, along with providing us with the treatments and measures taken to reduce these risks, provided that we receive the answer no later than (1/7/2023 )."

Isn't it amazing how July 1st 2023 keeps showing up.  😉

© Goldilocks

https://cbi.iq/news/view/2356

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"The IMF has told Pakistan it needs to secure additional external financing, scrap a swathe of populist subsidies, and allow the rupee to float freely against the dollar before unlocking another tranche of the $6.5 billion facility."

Currencies with a floating exchange rate trades without any restrictions. This will allow supply and demand to determine exchange rates for the Indian Rupee.

Here, we have another country changing their trading mechanisms to allow an open exchange system that will give them control over their own exchange rate. 

It's all happening on the water my friends. Watch the water. 

© Goldilocks

https://insiderpaper.com/pakistan-unveils-51-billion-budget-with-half-to-service-debt/

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Goldilocks' Telegram Room

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Goldilocks on the Seeds of Wisdom Team Website

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Thank you Dinar Recaps

Awake-In-3D "Back To Basics-Our GCR Explained 6-11-2023

Back to Basics – Our GCR Explained

On June 10, 2023 By Awake-In-3D

Our GCR creates a world where global debt is wiped out, and a new monetary system is established using up to 500,000 tons of off-ledger gold as collateral.

This new system will be facilitated through massive trading platforms that utilize the gold as collateral, facilitating a global currency reset. The gold can then be used to fund global humanitarian projects that address issues such as hunger, poverty, and debt slavery, through the creation of large global trading platforms dedicated to these projects.

In this new system, esoteric currencies and arcane historical bonds can also be used as additional collateral to back the new global asset-backed currency reset, providing liquidity and making it easier to establish the new monetary system.

In this Article:

• A financial reset is possible using up to 500,000 tons of off-ledger gold as collateral.

• Massive trading platforms are being designed to facilitate the new system.

• The new monetary system will wipe out global debt and fund humanitarian projects.

• Esoteric currencies and arcane historical bonds will provide initial liquidity and increase the funding of the new system.

• Asset owners, countries, and investors can pledge 80% of their profits to fund global development and humanitarian projects.

Introduction:

The current global economic system is in a state of crisis, with countries indebted to one another and the average person burdened with debt. The current system has resulted in a lack of funding for humanitarian projects, which are necessary to address issues such as hunger, poverty, and debt slavery. However, there is a plan to establish a new monetary system that will wipe out global debt and fund humanitarian projects, using up to 500,000 tons of off-ledger gold as collateral.

Massive Trading Platforms:

Massive trading platforms are being designed to facilitate the new system. These platforms will utilize the gold as collateral, allowing for the creation of a global currency reset. The gold will be used to fund global humanitarian projects that address issues such as hunger, poverty, and debt slavery. These projects will be facilitated through the creation of large global trading platforms dedicated to these projects. The gold will serve as the primary source of funding for these platforms.

New Monetary System:

The new monetary system will be established using up to 500,000 tons of off-ledger gold as collateral. The gold will be used to wipe out global debt, thus creating a fresh start for the global economy. The new system will be backed by legitimate assets, which will be registered on a global asset ledger. This ledger will ensure transparency and accountability in the new system. The new monetary system will also be designed to prevent the accumulation of debt, as it will be backed by real assets.

The Role of GCR Currencies and Historical Bonds:

Esoteric currencies and arcane historical bonds can provide the first wave and primary liquidity to fund the new system. These currencies and bonds can be evaluated and used as additional collateral to back the new global currency introduction. This will increase the liquidity of the global GCR platform funds and make it more efficient to establish the new monetary system foundation. Asset owners, countries, and investors who own esoteric currencies and bonds can privately pledge 80% of their profits towards global development and humanitarian projects. This will create a more sustainable and equitable future and address some of the world’s most pressing issues where beneficiaries of GCR asset funds become the first wave of stakeholders and leaders of global prosperity activities.

The Importance of Humanitarian Projects:

In addition to addressing issues such as hunger, poverty, and debt slavery, the gold can also be used to fund other critical humanitarian projects. These could include:

• Alternative School Systems: The new monetary system can be used to fund alternative school systems that prioritize creativity, critical thinking, and individualized learning.

• Non-Pharmaceutical Medical Cures: The gold can be used to fund the release of non-pharmaceutical medical cures, such as natural remedies, diet and lifestyle changes, and alternative therapies. This reduces reliance on pharmaceutical drugs creating a more sustainable and affordable healthcare systems.

• Suppressed Energy Technologies: The gold can also be used to fund the development and deployment of suppressed energy technologies, such as free energy and zero-point energy. These technologies could revolutionize the way we produce and consume energy, reducing our reliance on fossil fuels and creating a clean, prosperous future for all.

By allocating resources towards these critical areas, the new monetary system can create a more holistic and equitable future for all. These projects could be facilitated through the creation of large global trading platforms dedicated to these initiatives, ensuring that the gold is used efficiently and effectively.

Conclusion:

The establishment of a new monetary system using up to 500,000 tons of off-ledger gold as collateral can wipe out global debt and fund humanitarian projects. Massive trading platforms will be utilized to facilitate the new system, and esoteric currencies and arcane historical bonds can provide additional liquidity.

Asset owners, countries, and investors pledge 80% of their profits towards global development and humanitarian projects. This new system addresses many of the world’s most pressing issues creating a free and prosperous future for all humanity.

Related Posts:

Unveiling the Untold GCR Secrets of Off-Ledger Gold Trading Platforms   https://ai3d.blog/unveiling-the-untold-gcr-secrets-of-off-ledger-gold-trading-platforms/

Part 1 Project Hammer: Insider Trading Platforms Using Off-Ledger WW2 Gold   https://ai3d.blog/part-1-project-hammer-insider-trading-platforms-using-off-ledger-ww2-gold/

Project Hammer (Part 2) – A HISTORY LEADING TO “OUR GCR”   https://ai3d.blog/project-hammer-part-2-a-history-leading-to-our-gcr/

Sunday Morning Iraq Economic News Highlights 6-11-23

Sunday Morning Iraq Economic News Highlights 6-11-23

"Consensus Is In Place To Pass The Budget." What About The Government's Appeal To Some Of Its Amended Clauses?

Policy |Baghdad today - Baghdad   Today, Sunday, the Parliamentary Legal Committee suggested the date for completing the vote on the articles of the Federal Budget Law, while confirming that it is subject to appeal before the Federal Court.

Committee member Muhammad Anouz told (Baghdad Today) that "the amendments made to the budget are subject to appeal in the Federal Court by the government," adding, "but political consensus will exist to pass the budget items."

He added that "dialogues are ongoing regarding the paragraphs of the budget, and there is a possibility to pass them today or tomorrow," noting that "challenging the government with some articles of the budget or stopping some of them has no problem."

And the member of the Parliamentary Legal Committee stated that "Article 42 was not received by the deputies, and it will be discussed today."

Earlier, legal expert Salem Hawas confirmed that the House of Representatives committed a constitutional violation during the enactment of the Federal Budget Law.

 Hawass told (Baghdad Today) that "there is a decision of the Federal Supreme Court that says: (If it imposes financial burdens on the public treasury and prevents or obstructs the government from implementing its program approved by Parliament and prepared in accordance with its powers stipulated in Article 62 of the Constitution, as it is responsible for drawing And the implementation of the state’s general policy, including the financial policy, as this addition is an explicit violation of the constitution.”

He explained that "the House of Representatives should be careful of violating the constitution by adding any financial burdens on the public treasury in the budget."    LINK

The House Of Representatives Postponed The Session For Voting On The Budget Due To Lack Of A Quorum

Iraq   2023-06-11  Today, Sunday, First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, decided to postpone the voting session on completing the budget.

The media department of the House of Representatives said in a statement, "First Deputy Speaker of Parliament Mohsen Al-Mandalawi decided to postpone the session to complete the vote on the budget." She added, "This was due to the lack of a quorum."  https://kirkuktv.net/AR/Details/15755

KDP: We Accepted The Vote On The Budget To Thwart A Plot Against The Region

Political  | - 11/06/2023     https://www.mawazin.net/Details.aspx?jimare=229014

Will The Budget Fall Into The “Trap” Of The Federal Court?.. A Warning Of A Constitutional Violation “Committed” By Parliament

Posted On2023-06-10 By Sotaliraq   Today, Saturday, legal expert Salem Hawas confirmed that the House of Representatives committed a constitutional violation during the enactment of the federal budget law.

Hawass said, “There is a decision of the Federal Supreme Court that says: (If it imposes financial burdens on the public treasury and prevents or obstructs the government from implementing its program approved by the House of Representatives and prepared in accordance with its powers stipulated in Article 62 of the Constitution, as it is responsible for drawing and implementing the general policy of the state, including Fiscal policy, this addition is a clear violation of the constitution.

He explained that "the House of Representatives should be careful of violating the constitution by adding any financial burdens on the public treasury in the budget."

And he continued: “Especially since the legislative procedure that includes amending the budget by reducing financial burdens and not overburdening the budget and the public treasury, and if the deputies deviate from their personal, regional and partisan interests at the expense of public money and the public treasury, there is no harm in that, and it is a concept that contradicts the content of the decision that includes unconstitutionality.”

The draft federal budget law is going through a difficult labor phase, while some of its paragraphs are waiting for political consensus to pass in full.

The House of Representatives had voted, on Thursday and Friday, on some paragraphs of the federal budget and postponed the controversial points to today's session, in order to reach political understandings that proceed with the approval of the law.   LINK

The Democrat Rejects Article 14 Of The Budget And Al-Halbousi Suspends The Session "Temporarily"

Political  | 11/06/2023   Baghdad - Mawazine News   The Kurdistan Democratic Party rejected the parliament's vote on Article 14 of the draft budget law.

Our correspondent said, "The Democrat refused to vote on the article by majority, and his deputies left the session."

He added, "Al-Halbousi stopped the session for a quarter of an hour, after the dispute raged."

And the House of Representatives voted on Article 14 of the draft budget law, after two days of disagreement over it.     https://www.mawazin.net/Details.aspx?jimare=228977

Parliament Postpones The Budget Session

Policy  2023-06-11 | 6,738 views   Today, Sunday, the House of Representatives decided to postpone the session to complete the vote on the items of the federal budget.

A statement by the media department of the parliament, reported to Alsumaria News, stated that "the First Deputy Speaker of the House of Representatives decided to postpone the session until a quorum is completed."

The House of Representatives was scheduled to hold a session at exactly one o'clock this afternoon, during which the vote on the budget paragraphs would be completed.  LINK

Al-Sudani: The Government Has Practical Steps Awaiting The Resolution Of The Budget

Information / Baghdad..  The representative of the State of Law coalition, Muhammad Saadoun al-Sudani, confirmed, on Sunday, that the government led by Muhammad Shia’ al-Sudani has many projects that the people are waiting for, pointing out that the government will have more practical steps than before in the event that the budget is fully resolved and entered into force.

Follow the "information" channel on Telegram.. news that does not need to be documented..

Al-Sudani said in an interview with Al-Maalouma, that "members of Parliament are required to pass the budget and vote on all its paragraphs in a way that serves the Iraqi people, and guarantees them the provision of services by the government."

He added, "The government continues to work on various projects, especially service projects, despite the absence of any budget for quite some time, and is waiting for the budget to be fully resolved in order to launch broader projects that serve the Iraqi people."

And Al-Sudani stated, "The government takes practical steps to restore confidence in the political process by investing the budget in launching many projects that the people are waiting for, in line with the government program that it prepared when it assumed power." LINK

Politician: The Region Is Under The Hammer Of The Judiciary In The Event That It Is Proven That It Exported Its Oil To The Zionist Entity

Information / Baghdad...   Political analyst Sabah Al-Ugaili confirmed, on Sunday, that the regional government will put itself before judicial accountability in the event that it is proven that Kurdistan's oil has reached the Zionist entity, pointing out that the monitoring agencies such as intelligence and others can reach the parties that the region's oil reaches.

Follow the "information" channel on Telegram.. news that does not need to be documented..

Al-Ugaili said in a statement to Al-Maalouma, that "the amendments that were made to the budget obligated Kurdistan to hand over all oil and non-oil revenues, so that the Ministry of Finance would release state funds estimated at 12.6."

He added, "This step, if implemented, will oblige the region to respect the provisions of the budget and the decisions that have been taken recently, in order to ensure revenues and stop thefts."

And he indicated that "the step of exporting oil from Kurdistan towards the Zionist entity will open the door to condemning him and placing himself before the judicial authority, whether the Kurdistan government or the Ministry of Natural Resources," noting that "the intelligence and oversight agencies can reach the parties that receive the oil exported through Kurdistan." LINK

The Exchange Rates Of The Dollar Against The Iraqi Dinar, Coinciding With The Approval Of The Budget

Economy   2023-06-11 | 5,868 views  Alsumaria News – Economy  Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in the Iraqi local markets, for Sunday, June 11, 2023

According to the " Iraq Stock Exchange website", the exchange rates were as follows:

Baghdad  Offered: 147,000   Wanted: 145,000

North  Offered: 147,000   Wanted: 145,000

South  Offered: 146,750   Wanted: 144,750

The Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the price of buying a dollar from the Ministry of Finance reached 1,300 dinars per dollar and sold it at (1310) dinars per dollar to banks through the electronic platform, and it is sold At (1320) dinars for each dollar from banks and non-bank financial institutions to the final beneficiary.  LINK

Passing The Budget Is A Foregone Conclusion.. And Resolving The Dispute In Article 14 Falls Within The Competence Of The Prime Minister

June 10, 2023  Baghdad / Obelisk Al-Hadath: Sources revealed that the dialogues between the political blocs resulted in the passing of all budget items, despite the difficulties.

Over the course of two consecutive days, the House of Representatives held intensive sessions to pass the federal budget law, as only 13 articles out of 67 were voted on.

A member of the Parliamentary Finance Committee, Representative Mudar Al-Karawi, expects that passing the budget has become a reality, despite the existence of differences over some of its items.

Legal expert Ali Al-Tamimi revealed to Al-Masalla about Article 14 of the budget, which was postponed due to the dispute between the region and the federal government.

He said that resolving the dispute over this article is the prerogative of the Prime Minister in accordance with Article 78 of the Constitution, as he is the executive responsible for the general policy of the country...and also Article 112 of the Constitution that differentiated between joint management and export...and this article is a subsidiary article that has nothing to do with the Federal Court and its jurisdiction. .

He said that bringing this matter to the Federal Court will take a long time in procedures that are not commensurate with the issue of oil export.

Al-Tamimi considered that the draft oil and gas law included the existence of the so-called Federal Oil Council, which is chaired by the Prime Minister, and it is this council that decides on such disputes.

https://almasalah.com/archives/55609

Parliamentary Finance Determines The Number Of Articles Remaining To Settle The Tripartite Budget: Non-Controversial

Policy |Baghdad today – Baghdad   A member of the Parliamentary Finance Committee, Representative Mudar Al-Karawi, confirmed today, Sunday, that only 37 articles remain on settling the 2023 budget.

Al-Karawi said, in an interview with (Baghdad Today), that "what remains of the 2023 budget is 37 articles," pointing out that "the session will take place this evening," ruling out its delay or that it will witness disputes like yesterday, as the remaining articles are almost agreed to be passed. .

He pointed out that "the most important points in today's session are the governorates' demands for fairness to the lecturers and other segments, and we interact positively with any request that supports our people in any governorate," stressing that "there are meetings taking place between several parliamentary parties in order to coordinate in supporting the approval of the remaining articles The budget is expected to be decided in today's session.

Parliament decided until yesterday's session, Saturday, 38 articles for 3 articles.  LINK

"Tidbits From TNT" Sunday 6-11-2023

TNT:

Tishwash:  The Council of Ministers holds an emergency session headed by the Sudanese

 Today, Sunday, the Council of Ministers held an emergency session, headed by Prime Minister Muhammad Shia'a Al-Sudani.

And the media office of the Council of Ministers stated in a statement that "the Council of Ministers held an emergency session chaired by Prime Minister Muhammad Shia'a Al-Sudani" to discuss and evaluate the implementation of the government program..  link

Tishwash:  Al-Fateh: The oil and gas law will be passed after the budget is approved

The representative of the Al-Fateh Alliance, Muhammad Karim, confirmed today, Sunday, that the decision to vote on the articles related to the Kurdistan region in the draft federal general budget will pave the way for the approval of the oil and gas law.

In an interview with Al-Maalouma, Karim said, "The controversial articles that were voted on regarding the region will be fixed," pointing out that "the articles pertaining to the region will be the basis for approving the oil and gas law." 

He added, "Voting on controversial articles related to the Kurdistan region went through a difficult labor," noting that it "has been completed and all problems will be resolved and the future relationship between the region and the center will be organized." 

Karim pointed out that "controversial articles 13 to 19 will remain in their details in the next two budgets 24 and 2025 until the approval of the oil and gas law, in addition to that they were based on constitutional articles."

And the House of Representatives voted, at dawn on Sunday, on 18 new articles in the budget, while adjourning its session to one o’clock this afternoon.  lin

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Tishwash:   After a difficult labor... Completing the approval of the budget is the first step in economic stability in Iraq

Economic experts considered that the federal budget law for the next three years is a step forward towards economic stability. However, the law for the next two years remains guiding and subject to modification according to oil prices and the nature of revenues and expenditures in the coming years. As for the 2023 budget, it remains She is the law.

The economic researcher, Nabil Jabbar Al-Ali, explains in a statement to Al-Maalouma, that "as long as the submission and approval of budgets by successive governments or parliaments has been faltered for several reasons, including those related to technical and logistical matters related to budget preparation, and others related to political reasons or obstacles, such as those Related to disputes over budget items, or those related to the legal and constitutional dimensions of budget legislation, such as the presence of a caretaker government, as happened in 2022, or the absence of parliament, as happened at the end of 2021, or political confusion and the expansion of protests, as is the case in 2020. 

He added, "The idea of ​​enacting a budget for three years may be correct and at least guarantees that governments will implement their government program and approach during their tenure in power, and such a step may lead to conducting medium strategies in writing budgets instead of building them on the basis of timely and narrow ones."

For his part, economist Diaa Mohsen confirmed in a statement to Al-Maalouma that the importance of public budgets in Iraq lies in the relative GDP of the country, as it may contribute more than 50 percent of the annual GDP, although governments implement nearly 75 percent of the budgets are on an ongoing basis, which is the operational part of it, whether approved or not, but the size of the impact represented by the remaining ones, which is about 25 percent of the budgets (the investment part), is clear on the sectors of the Iraqi economy

"It is still too early to analyze the budget items because they have not been announced until today, and what was announced is the budget statement that clarifies the general visions of the budget and some frameworks for spending," he said, noting that "The statement did not explain to us extensively the mechanisms for protecting funds, but the general statement mentioned the existence of government intentions to automate sectors related to tax and customs and plans to collect fees related to energy consumption.

In addition, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, believes that the government's preparation of a three-year budget provides a vision for Iraq's financial future.

 He explained, in a press statement, followed by Al-Maalouma, that “the financial management law in force No. Six of 2019, as amended, talks about the annual budget, and that it is okay for the state to present a financial plan that contains estimates and forecasts for the coming years, so that the House of Representatives and legislators have a vision of how the conduct of the state's financial affairs," pointing to "his support for this trend."

He added, "The draft approval of the budget for the coming years by the Council of Ministers remains indicative and subject to modification depending on oil prices and the nature of revenues and expenditures in the coming years. As for the 2023 budget, it remains the law," noting that "the initiation of approving a budget for the next three years gives the legislator a vision for Iraq's financial future in the medium term to prepare for all possibilities.  link

Mot:  ... and then - a Baby is Born!!!! ~~~~

Mot... Yet another ""Mot"" suggestion on Raising the Wee Folks! ~~

Late Saturday Night Goldilocks: "Israel, Pakistan, Honduras and more" 6-10-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

Good evening Dinar Recaps,

Goldilocks posted some news on Iraq and several other interesting articles:

Israel poised to release world's first digital government bond

The collaboration between the TASE and the Finance Ministry's Office of the Accountant General "marks a significant milestone in revolutionizing the settlement and issuance processes in traditional capital markets," the TASE said.

https://www.devdiscourse.com/article/international/2483622-israel-poised-to-release-worlds-first-digital-government-bond

Breaking News:

Bank of America, Wells Fargo and JPMorgan Chase close New York Branches in Three Months.

~~~~~~~~~~

Pakistan has expressed its interest in joining the BRICS.

The list is getting very long.

Read: https://twitter.com/goldtelegraph_/status/1667617380565135360?s=46

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Honduras applies to join BRICS New Development Bank - World - Chinadaily.com.cn

https://www.chinadaily.com.cn/a/202306/10/WS6484562ca31033ad3f7bb8fa.html 

~~~~~~~~~~

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

Iraqi News Highlights Saturday Evening 6-10-23

Iraqi News Highlights Saturday Evening 6-10-23

Tlm724 Administrator Bondlady’s Corner

Central: Commitment To Strict Currency Financing Instructions Will Significantly Reduce The Exchange Rate

Money  and business   Economy News – Baghdad  Today, Saturday, the Central Bank revealed its plans to raise financial and gold reserves, while noting that adherence to foreign currency financing packages will contribute to a significant decrease in the dollar exchange rate in the coming days.

Al-Alaq said, in an interview with the official news agency, that "packages of instructions for financing in foreign currencies abroad were launched with the launch of the electronic platform," noting that "the aim of this package is to meet the requests of all the needs of the Iraqi economic sectors in addition to the needs of citizens for travel, treatment and study." ".

Al-Alaq added, "These packages contributed to organizing a large part of the trade process in Iraq through the entry of various sectors into the official channels of transfer, and mitigated the fluctuations in exchange rates, which at the beginning of the launch of the platform in the market reached approximately 160 thousand dinars per dollar." ".

He stressed, "There is a significant improvement in the work of the trade financing platform and the cash payment platform, and that proceeding in this framework will contribute to a significant decrease in the exchange rate in the coming days."

Regarding plans to raise financial reserves and gold in the central bank, Al-Alaq said, "The two most important factors that determine the accumulation and depletion of foreign reserves are external, as the accumulation of reserves is mainly linked to the amount of oil exports and the price of a barrel, while the depletion of reserves takes place through importing goods and services as well as external transfers." ", stressing that "under normal circumstances, this bank aims to build a sustainable level of foreign reserves while ensuring high liquidity and relatively good returns."

He continued, "With regard to gold, this bank places increasing its holdings of gold on a high level of importance, and by the end of this year, this bank aims to increase its holdings by at least the equivalent of $500 million."

Regarding the housing loan initiative, Al-Alaq stated that “housing loans did not stop, as the circular of this bank No. 6/5/988 on 4/27/2023 in paragraph (5) of it indicated the continuation of financing applications submitted to the Real Estate Bank and the Housing Fund within the allocated allocation To them, it is derived after that by reallocating 50% of the total loan installments previously granted, whose total loans financed by the Central Bank through its initiative amount to more than 10 trillion dinars.

Views 84  06/10/2023 - https://economy-news.net/content.php?id=34660 

Iraq Is The Third Largest Oil Exporter To America Last Week

Saturday 10, June 2023 08:49 | Economical Number of readings: 360

Baghdad / NINA / - The US Energy Information Administration announced today, Saturday, that Iraq's oil exports to America rose to become the third largest exporter to it after Canada and Mexico during the past week, while Saudi Arabia ranked last among the top ten exporters to America.

The administration said in a report, "The average US imports of crude oil during the past week from nine countries amounted to 5.297 million barrels per day, up by 191,000 barrels per day from the previous week, which amounted to 5.106 million barrels per day."

She added, "Iraq's oil exports to America amounted to an average of 430,000 barrels per day last week, up by 282,000 barrels as a daily average from the previous week, in which oil exports to America amounted to an average of 148,000 barrels per day, and thus Iraq ranks third as the largest oil exporter to America during the week." the past".

She pointed out that "most of America's oil revenues during the past week came from Canada at a rate of 3.504 million barrels per day, followed by Mexico with an average of 647 thousand barrels per day, and oil revenues from Ecuador amounted to 218 thousand barrels per day, and then Nigeria at a rate of 144 thousand barrels per day."

According to the administration, "the amount of US imports of crude oil from Colombia amounted to an average of 127,000 barrels per day, from Libya 90,000 barrels per day, from Brazil 71,000 barrels per day, and from Saudi Arabia 66,000 barrels per day, while it did not import any quantity from Russia."/ End8    https://ninanews.com/Website/News/Details?key=1058719    

 Iraq Has The Sixth Highest GDP Growth Rate

Economy   Iraq   breaking  The year is 2022   GDP growth  2023-06-10  Shafaq News/ Iraq ranked sixth among the countries in the world with the highest growth rate of gross domestic product in the year 2022, according to the American global Finance magazine, which deals with the financial and economic matters of the countries of the world.

The magazine said in a report seen by Shafaq News agency that economic growth is a marathon race, not a sprint, and

while some countries have made plans for long-term progress,

others have wasted their good fortunes and resources.

However, experts have already warned of the so-called “resource curse,” that is, the mismanagement of revenues from oil extraction that has historically been associated with

slow economic growth,

corruption,

authoritarianism, and a

whole host of social ills.

A country's GDP can be defined as the total monetary value of goods and services produced within its borders in a year.

According to the magazine, "Iraq ranked sixth among the countries in the world with the highest growth rate of gross domestic product in the year 2022, with a growth rate of 9.7%, up from 5.9% in 2021, up from -15.7%, up from 5.8% in 2020, and up from 4.7% in 2019, indicating that

the growth rate for the past five years amounted to 2.1%.

She explained that "the highest growth rate in the world for GDP in the year 2022 was for Guyana, with a growth rate of 24.1%, followed by Macau, with a growth rate of 15.2%, followed by Barbados, with a growth rate of 11.2%, followed by St. Kitts and Nevis, with a growth rate of 10%. followed by Saint Lucia at a rate of 9.7%.

She indicated that the lowest growth rate in the world for gross domestic product in the year 2022 was the share of Ukraine, where it recorded -35%, followed by Russia -8.5%, followed by Belarus 6.5%, while the data did not include any of the countries of Syria, Lebanon or Afghanistan due to the absence of any statistics. have an official. https://shafaq.com/ar/اقتصـاد/العراق-سادس-على-معدل-نمو-للناتج-المحلي-ال-جمالي

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

KTFA Members "News and Views" Saturday PM 6-10-2023

KTFA:

Clare: DON'T WALK BY POST #27!    RIGHT FROM ALAQ!!! WOW!   imo

#27:  Central: Commitment to strict currency financing instructions will significantly reduce the exchange rate

6/10/2023  Baghdad

Today, Saturday, the Central Bank revealed its plans to raise financial and gold reserves, while noting that adherence to foreign currency financing packages will contribute to a significant decrease in the dollar exchange rate in the coming days.

Al-Alaq said, in an interview with the official news agency, that "packages of instructions for financing in foreign currencies abroad were launched with the launch of the electronic platform," noting that "the aim of this package is to meet the requests of all the needs of the Iraqi economic sectors in addition to the needs of citizens for travel, treatment and study." ".

Al-Alaq added, "These packages contributed to organizing a large part of the trade process in Iraq through the entry of various sectors into the official channels of transfer, and mitigated the fluctuations in exchange rates, which at the beginning of the launch of the platform in the market reached approximately 160 thousand dinars per dollar." ".

He stressed, "There is a significant improvement in the work of the trade financing platform and the cash payment platform, and that proceeding in this framework will contribute to a significant decrease in the exchange rate in the coming days."

Regarding plans to raise financial reserves and gold in the central bank, Al-Alaq said, "The two most important factors that determine the accumulation and depletion of foreign reserves are external, as the accumulation of reserves is mainly linked to the amount of oil exports and the price of a barrel, while the depletion of reserves takes place through importing goods and services as well as external transfers." ", stressing that "under normal circumstances, this bank aims to build a sustainable level of foreign reserves while ensuring high liquidity and relatively good returns."

He continued, "With regard to gold, this bank places increasing its holdings of gold on a high level of importance, and by the end of this year, this bank aims to increase its holdings by at least the equivalent of $500 million."

 Regarding the housing loan initiative, Al-Alaq stated that “housing loans did not stop, as the circular of this bank No. 6/5/988 on 4/27/2023 in paragraph (5) of it indicated the continuation of financing applications submitted to the Real Estate Bank and the Housing Fund within the allocated allocation To them, it is derived after that by reallocating 50% of the total loan installments previously granted, whose total loans financed by the Central Bank through its initiative amount to more than 10 trillion dinars.  LINK

DallasDude:  The word "Significant " Got my attention..we will see how it plays out, hope their definition of the word is parallel to ours..and hopefully it's not the 1300 rate they are proud to introduce in this 3 year budget.. imo

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ButchB:  The more I read the more I realize how intricate this process of the RI is

With the information coming out, and the plays that are being made, you’d have to be blind and deaf. Not to realize the R I  is here.

I remember all the times I thought this has to be it but now I sit and reflect how ignorant I have been in thinking that the RI/RV could have possibly taken place before this weekend

With all of the things that they have accomplished in this past week, alone, supersedes everything that they have accomplished for the past 20 years think about that a minute ONE WEEKS TIME HAS ACCOMPLISHED MORE THAN THE PAST 20 YEARS!

this is in my opinion, of course and I feel that everyone in this family would benefit from reading the entire article that is presented to you and don’t just read the headlines
For it is the details that it is driving this RI in my opinion

So if you are having any doubts about us coming to the end of this road, maybe you should look in the rearview mirror and see how things used to be and compare them to how they are now so again, I would reiterate ,IMO , THEY HAVE ACCOMPLISHED MORE IN THE PAST WEEK THAN THEY HAVE IN THE PAST 20 YEARS!

Clare:  After a dispute for two days, the House of Representatives votes on the Kurdistan oil revenue clause in the budget

6/10/2023

The House of Representatives voted, on Saturday, on Article 14 of the draft budget law.

And the media department of the House of Representatives stated in a statement, which Mawazine News received a copy of, that "the House of Representatives voted on Article 14 related to oil revenues in the Kurdistan region and its audit by the Federal Audit Bureau."

The House of Representatives has witnessed disagreements since yesterday, due to disagreements over the article.   LINK

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Clare:  The Finance Committee announces the resolution of the dispute over Article 14 of the budget

6/10/2023

A member of the Finance Committee, Mueen Al-Kazemi, announced today, Saturday, the resolution of the dispute over Article 14 of the Federal General Budget Law.

 Al-Kazemi told Al-Sumaria News, "There are serious dialogues that took place between the coordination framework and the Kurdistan Democratic Party, which resulted in reaching an important formula agreed upon between the two sides on Article 14, and with that everything ends."

He pointed out that "the meetings are continuing and there is an understanding that occurred within the framework with the Democrat regarding Article 14, especially with regard to forming a committee to resolve the differences between the center and the region."

Al-Kazemi stressed that "the budget materials will be passed gradually."

During the past two days, the House of Representatives voted on Articles (1, 2, 3, 5, 6, 7, 8, 9, 10, 11, 12, 13, 18, 19, 20, 21, 23 and 24), in order to vote. On Articles 14, 15, 16 and 17, with the deletion of Articles 4 and 22 of the draft budget law.

It is hoped that the House of Representatives will hold, today, Saturday, a session to complete the vote on the budget articles.    LINK

Iraqi News Highlights Saturday Afternoon 6-10-23

Iraqi News Highlights Saturday Afternoon 6-10-23

Tlm724 Administrator Bondlady’s Corner

The Central Bank Of Iraq Promises A Decrease In The Dollar And Clarifies Regarding Prepaid Cards

Economy |  10/06/2023  Baghdad - Mawazine News  Today, Saturday, the Central Bank revealed its plans to raise financial reserves and gold, and while specifying its procedures for installing prepaid devices, it clarified its plans for restructuring government banks.

And the Governor of the Central Bank, Ali Al-Alaq, said that “packages of instructions for financing foreign currencies abroad were launched with the launch of the electronic platform,” noting that “the aim of this package is to meet the requests of all the needs of the Iraqi economic sectors in addition to the needs of citizens for travel, treatment and study.” .

Al-Alaq added, "These packages contributed to organizing a large part of the trade process in Iraq through the entry of various sectors into the official channels of transfer, and mitigated exchange rate fluctuations that reached approximately 160,000 dinars per dollar at the beginning of the launch of the platform in the market." ,

 stressing that "there is a significant improvement in the work of the trade financing platform and the cash payment platform, and that proceeding in this framework will contribute to a significant decrease in the exchange rate in the coming days."

And he continued, "There is no need to launch new urgent packages at the present time, as the operations are proceeding consistently through electronic platforms with the presence of some operational obstacles or obstacles related to international commercial operations related to financing. Each case is resolved separately, and therefore we see that the situation is going well." towards stability and there is no need to take additional measures.

Regarding setting $2,000 as a maximum limit for spending on Visa and MasterCard cards abroad, Al-Allaq explained, “The aim of setting ceilings for cash withdrawals from payment cards is to avoid misuse of these cards by weak-minded people and currency speculation, since continuing with the previous situation exposes the financial sector to a great threat.” And pushes for more currency smuggling.”

Regarding the operations of seizing cards at airports, the Governor of the Central Bank said: “We believe that this issue has ended or is nearing completion through the circulars issued by this bank, which obligated banks and payment companies to issue one card for each customer and to use the biometric fingerprint, and to set ceilings for cash withdrawals and the cooperation of the security services.” with this bank.

Regarding the insistence of some merchants on buying dollars from the parallel market, Al-Alaq said: "The insistence of some merchants on such transactions despite the facilities provided by this bank constitutes a factor of instability in the exchange rate and also exposes the owners of these transactions to legal accountability,"

 stressing that "The failure of small traders to turn into companies that were allowed to enter the window and their insistence on financing through informal methods by buying currency from the secondary market puts pressure on the exchange rate towards an upward trend, and therefore we urge these merchants to establish small companies to enter the window and obtain dollars at the official rate."

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He pointed out that "the Central Bank's procedures in monitoring the decision to deal in Iraqi dinars instead of dollars by investment companies and the sale of housing units in investment complexes are carried out through coordination with the National Investment Commission and the office of the Chairman of the Supreme Committee for the Support of the Dinar and law enforcement agencies, as well as the facilities provided by these The complexes, all sides agreed to accept the Iraqi dinar.

Regarding the central bank's plans to implement the government bank restructuring program, Al-Alaq explained, "The central bank's plans to implement the restructuring program continue, but the progress of this project is slow, because of its association with other parties related to the Federal Bureau of Financial Supervision and the Ministry of Finance, or because of the weak human capabilities available to it."

Governmental banks," pointing out that "the Central Bank continues to provide support to these banks to improve the quality of data, including conducting an assessment of the quality of assets for the Rafidain and Rasheed banks, as an international auditing company was contracted for this purpose, and this bank bore the cost of contracting with this company."

And he continued: “

1- Draft supervisory work guide / risk management controls in commercial banks.

2- Draft capital adequacy controls.

3- The Scorecard Project for Environmental, Social and Corporate Governance Standards (ESC), where this bank issued the first report on the results of (ESC) on 1/23/2023, which is the first of its kind that reflects on the extent to which environmental, social and corporate governance standards are applied in the Iraqi banking sector.

4- Work is currently underway to update the disclosures and financial statements of commercial banks, in cooperation with the Middle East Technical Assistance Center (METAC).

5- A project to develop regulatory tools to deal with systemically important local banks.

Regarding the Central Bank's procedures for installing prepaid devices that were installed in a number of locations, Al-Alaq said that "based on the decision of the General Secretariat of the Council of Ministers No. 23044 of 2023, paragraph (2) thereof, this bank received a number of requests from ministries and government and private institutions, and it was completed."

Addressing it to approach companies providing electronic payment services and request offers to supply, install and operate point-of-sale (POS) devices according to the mechanism and strategy of this bank.

He pointed out that “the above entities were provided with the names of payment service providers licensed by this bank to actively (processor, collector) for the purpose of concluding the agreements required to serve the collection of funds electronically for financial dues through (POS) devices,”

 noting that “electronic payment service provider companies can Licensors collect amounts due for services provided by institutions and government departments electronically, whether in connection with electronic payment gateways or directly through the deployment of point-of-sale (POS) devices.

He stressed that "the electronic bill payment project has already been launched for a number of billed departments affiliated to the ministries (construction, housing, public works, trade, electricity, interior - passports)."

With regard to the Central Bank's procedures regarding monitoring money laundering operations and recovering funds smuggled abroad, Al-Alaq stated, "Based on Article 9 (9 / First / A) of the Anti-Money Laundering and Terrorist Financing Law No. (39), the work of the Anti-Money Laundering Office And the financing of terrorism is receiving or obtaining reports or information about transactions that are suspected to include the proceeds of a predicate crime, money laundering, or terrorist financing from the reporting authorities. The use of prepaid cards by criminals.

And he went on to say: “Following the reports received, the office took the following measures:

A- The Ministry of Finance / General Authority of Customs was contacted, for the purpose of preventing the issuance of any card that does not bear the name of the card owner (prepaid cards / PREPAID / CARDS).

B- The office has issued a circular to the companies and banks that issue these cards, which includes the following:

1- The ceiling of the aforementioned card is (10,000,000) dinars (ten million Iraqi dinars), and the owner of the aforementioned card may withdraw cash up to (3,000) dollars (three thousand dollars) or what Equivalent in the currencies of other countries outside Iraq on a monthly basis.

2- Due diligence measures are taken when recharging, based on Article (10) of the Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015 and the controls and instructions issued thereunder.

3- The company or the bank has the right to issue only one prepaid card to the same customer, with the necessity that these cards be issued in the customer’s name, and the customer’s name is recorded on the card.

He pointed out that "the office carries out investigations and analysis of the information received from the above authorities, on the basis of which the defaulters are identified from individuals, companies and banks, and a number of suspicious transactions have been referred to the courts specialized in combating money laundering and terrorist financing, based on Article (9 / first / c). ) of the above law, which states:

Reports that are based on reasonable grounds for suspicion of money laundering, terrorist financing, or predicate offenses shall be referred to the Presidency of the Public Prosecution Office to take legal action in their regard, and to notify the relevant authorities of that.

Regarding plans to raise financial reserves and gold in the Central Bank, Al-Alaq indicated that “the two most important factors that determine the accumulation and depletion of foreign reserves are external, as the accumulation of reserves is mainly linked to the amount of oil exports and the price of a barrel, while the depletion of reserves takes place through importing goods and services as well as transfers.”

Foreign Affairs," stressing that "under normal conditions, this bank aims to build a sustainable level of foreign reserves while ensuring high liquidity and relatively good returns."

He continued, "With regard to gold, this bank places increasing its holdings of gold on a high level of importance, and by the end of this year, this bank aims to increase its holdings by at least the equivalent of $500 million."

And about the housing loan initiative between Al-Alaq, that “the housing loans did not stop, as the circular of this bank No. 6/5/988 on 4/27/2023 in paragraph (5) of it indicated that the financing of applications submitted to the Real Estate Bank and the Housing Fund within the allocated allocation would continue.” To them, it is derived after that by reallocating 50% of the total loan installments previously granted, whose total loans financed by the Central Bank through its initiative amount to more than 10 trillion dinars.”   https://www.mawazin.net/Details.aspx?jimare=228901

More Than A Billion Dollars Sales Of The Central Bank Of Iraq Last Week

Saturday 10, June 2023 | Economical Number of readings: 396 Baghdad / NINA / The Central Bank of Iraq's total sales of hard currency during the past week amounted to more than one billion dollars.

And the bank stated in a statement, “It sold during the past week for the five days in which the auction opened, one billion and 54 million, and 121 thousand, and 159 dollars, at a daily rate of 210 million, and 824 thousand, and 231 dollars, down by 17% from what was recorded last week.

The one that preceded it, which was at a daily rate of 254 million, 102 thousand, and 314 dollars.

He added, "The highest dollar sales during the past week were on Wednesday, when sales amounted to 234 million, 785 dollars, while the lowest sales were on Sunday, when sales amounted to 184 million, 60 thousand and 577 dollars."

He pointed out that "sales of foreign remittances amounted during the past week to 957 million, 831 thousand, and 159 dollars, an increase of 81% compared to cash sales, which amounted to 180 million and 90 thousand dollars."

He explained, "The sales went in the form of cash and transfers abroad to finance foreign trade, while the price of selling amounts of documentary credits and international settlements for electronic cards amounted to 1305 dinars per dollar, while the price of selling amounts of remittances abroad and the price of cash sales amounted to 1310 dinars per dollar."/

https://ninanews.com/Website/News/Details?key=1058777

Decrease In The Exchange Rate Of The Dollar On The Local Stock Exchange

Saturday 10, June 2023 10:32 | Economical Number of readings: 485  Baghdad / NINA / - Today, Saturday, the exchange rates of the US dollar against the Iraqi dinar witnessed a decline in the main stock exchange in the capital, Baghdad.

The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded this morning an exchange rate of 146,500 dinars for every 100 dollars.

The buying and selling prices decreased in exchange shops in the local markets in Baghdad, as the selling price reached 147,500 dinars, while the purchase price reached 145,500 dinars, for every 100 dollars./     https://ninanews.com/Website/News/Details?key=1058743

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