KTFA Members "News and Views" Wednesday Afternoon 8-21-19

KTFA:

Samson:  From here begins reform

21st August, 2019 by Abbas al-Bukhati

Some wishes are not impossible, but the case indicates that most of them did not come to the mind of the official and were not in the calculations of the elite confrontation.

What is wrong with re-licensing rounds and curtail the participation of foreign workers and reconsider the amounts they charge compared to the Iraqi worker?

Will there be a decision by the decision-maker to improve the situation and ensure the requirements of decent living away from the power of foreign companies that treat the people of the country as slaves?

Will we find those who adopt spending cuts through the restructuring of state institutions that suffer from sagging and the abundance of job titles and special grades?

Since those who manage the institutions of martyrs and prisoners at a special level, as well as the Hajj and Shrines Authority, and the Shiite and Sunni endowment and the rest of the endowments, what is prevented from collecting these bodies in one ministry? And make each body a general directorate within this ministry and be represented in the provinces at the level of the department, so we will get rid of seven officials of the bodies will also be dispensed with more than eighty general managers.

Is it difficult for those who swear to work on the Constitution to address the legal breach committed by the Prime Minister when he omitted the export of the region's oil by 250 thousand barrels per day since 1 January 2019 until now? Considering the money coming from the oil sales is the money of the Iraqis and not a particular person or entity.

If the state has reached the level of sufficiency and did not need those funds, let the faithful law to allow distribution to the people, especially the unemployed as salaries or grants, salary scale is also in need of a new law that eliminates the big difference between the salaries of some ministries, and reduce the gap between The salary of the official and the employee, it must be revealed the fact of those who receive more than one or two salaries and perhaps more.

We need the audacity of an official to indicate the total salary of Iraqis during one year, there are those who say that the amount of up to 50 billion dollars while the salary of Turkey, which has a population of 90 million people is 20 billion because of the fair and deliberate distribution, so we must know the salaries of the Ministry of Oil and how much It is the percentage added to the salary as well as the Ministry of Higher Education and university service allocations with emphasis on the separation of the morning working hours for university employees from evening hours, because it will contribute to the absorption of a very large number of graduates and those with higher degrees and manpower, as some of the employees of the morning working salary for casting Neighborhood and another evening not to mention some of the paid salary of a political prisoner or from the families of martyrs, must also be re-Alnzerpalm_khassat they contain very large differences.

We need to arrange housing conditions and address slums, and we must pay attention to the health situation, which is witnessing a significant decline in most aspects.

Since it is ..  Will our questions above remain unanswered, as are the questions of reference?

And how long will we be patient before we rise up and take our rights through the legitimate democratic methods and improve the selection?   LINK

Doodlebug:   Tick tock, tick tock.

Popeye7:  I cannot help but think they know already DB... Dog, and pony show... The timing of the coin articles this week, this article you just posted... These types of articles help to rally the people, and give them the idea that someone is on their side so to speak... Talking about the Sadr articles when speaking of rallying the people... Everything is being timed perfectly, and coming to an end of this chapter, and beginning a brand new one for the people of Iraq with added value to their currency... In the end, all the world is a stage with many actors in key positions... All IMO though...

Doodlebug:  ..and I see it the other way around. IMO, this will help fuel their impatience. Yes, they see the articles about coins and dropping the three zero's but add this to the years of broken promises and lack of basic services... and IMO, that is not a good recipe. The citizens are hot and tired and will follow their Religious Leaders right into the streets, should they be called upon. The more people that write about the frustrations, the shorter the "temperament" fuse. Either way, in Frank's terms...it's all coming to an "intersection" now.

Samson:  Legal: The decision to lift immunity gives the right to bring MPs through Interpol

20th August, 2019
The legal expert Ali al-Tamimi, Tuesday, that the decision to lift the immunity of some deputies outside Iraq gives the right to bring them through Interpol, indicating the possibility of arrest at any border crossing or airport during their return.

Al-Tamimi told the / information / that "the decision to lift the immunity of any deputy comes after the issuance of an arrest warrant for the deputy being wanted for the judiciary." He added that "MPs issued arrest warrants can be returned to Iraq through Interpol and activate Iraq's diplomatic relations."

He explained that after the lifting of immunity every security element has the right to arrest deputies at the entrance to any border or airport once they reach Iraq, stressing that "the second step legally after the lifting of immunity will be issued arrest warrants for all ports, airports and checkpoints."

The speaker of the House of Representatives issued a decision on Tuesday to lift the horse from a number of deputies on the basis of arrest warrants issued by the Iraqi judiciary.     LINK

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Samson:   Oil rises to $ 60

2019/8/21 11:07

Brent crude futures rose above $ 60 a barrel on Wednesday, after data showed a larger-than-expected drop in US crude inventories, but persistent fears of a possible global recession limited gains.

Brent crude was up 33 cents, or 0.6 percent, at $ 60.36 a barrel by 0654 GMT, after rising 0.5 percent on Tuesday.  US crude rose 17 cents, or 0.3 percent, to $ 56.30 a barrel.  Crude oil inventories fell 3.5 million barrels in the week ending Aug. 16, the API said on Tuesday. Analysts polled by Reuters had expected inventories to fall 1.9 million barrels. "Crude prices are likely to be supported by a positive inventory report from the American Petroleum Institute that may indicate the biggest drop in Cushing since February 2018, if approved by the Energy Information Administration, '' said Edward Moya, market analyst at Oanda in New York.

Inventories data from the Energy Information Administration (EIA), due to be released at 1430 GMT on Wednesday, will be more closely watched than usual as the end of the peak US fuel consumption season approaches, analysts said.  Tensions in the Middle East remain under the spotlight, with US Secretary of State Mike Pompeo saying on Tuesday that the United States would do everything possible to prevent an Iranian tanker in the Mediterranean from delivering oil to Syria in violation of US sanctions. 

Oil prices were also supported by data showing a drop in exports from Saudi Arabia, the world's top crude exporter, in June.  A Saudi oil official told Reuters earlier this month that the kingdom plans to keep crude exports below 7 million bpd in August and September, despite strong demand from customers, to rebalance the market. However, the uncertainty surrounding the global economic outlook amid the US-China trade war has limited gains in oil markets.    LINK

Samson:  Rouhani deletes 4 zeros from the Iranian rial 
21st August, 2019

Iranian President Hassan Rouhani sent a bill to parliament on Wednesday to remove four zeros from the value of a nation's currency, which has been hit by severe financial sanctions

The "Associated Press" quoted semi-official news agencies that Rouhani will send the bill to parliament for consideration in a hurry

The Iranian rial has faltered because of the effects of heavy US sanctions on the country since President Donald Trump's decision to withdraw from the nuclear deal more than a year ago

The value of one dollar in the trading markets today 116500 riyals

At the time of the signing of the nuclear agreement in 2015, the value of the dollar was 32 thousand riyals, but the recent US sanctions made it deteriorate significantly

The Iranian government approved in early August the deletion of four zeros from the rial, and the adoption of "Altoman" alternative currency   LINK

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Samson:  An unprecedented Iranian threat

2019/8/21 14:39

Iranian President Hassan Rouhani on Wednesday warned against attempts to zero oil exports.

"The international powers know that if comprehensive sanctions are imposed and Iranian oil exports are zeroed, international sea routes will not be as safe as before," Rowhani said during a meeting with Iran's Supreme Leader Ali Khamenei. 

Rouhani added that "Iran has chosen the right path in reducing its obligations in the nuclear agreement in response to the reluctance of European countries and non-implementation of its commitments to the Islamic Republic."   LINK

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Samson:  IMF warns governments against currency interventions aimed at improving trade balance

2019/8/21 18:22

The International Monetary Fund warned on Wednesday against governments seeking to weaken their currencies through monetary easing or market intervention, saying it would damage the functioning of the global monetary system and cause suffering to all countries.

The IMF said in a post on its blog, which comes as bankers from global central banks prepare to meet this week in Jackson Hole, Wyoming, that policy proposals for the use of monetary easing and direct purchases of currencies of other countries are unlikely to be effective. 

"One should not strongly believe in the view that easing monetary policy can weaken a country's currency enough to achieve a continuous improvement in its trade balance through a diversion in spending,'' said Gita Gopinath, chief economist at the IMF and IMF researchers Gustavo Adler and Luis Copedo.  Monetary policy alone is unlikely to produce significant and sustained reductions in the value needed to achieve that result.”   LINK

DELTA " It's All Over the News About Raising the Value"

KTFA: 

DELTA:  URGENT FROM IRAQI TV:   اللجنة المالية النيابية تعتزم رفع سعر الدينار امام الدولار واعطاءه قوة بين العملات

Samson:  Translation below ... (article in relation to this heading is on the next page)

Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give it strength between currencies Other

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Samson:  Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give it strength among other currencies

19th August, 2019
A member of the Parliamentary Finance Committee Abdul Hadi Saadawi said in a statement on Monday, August 19, 2019, that the Finance Committee will work to raise the price of the dinar against the dollar and give it strength among other currencies in the Arab world, or at least maintain the current exchange rate to have monetary power within Local market.

The Finance Committee in the House of Representatives revealed that there is a tendency to reintroduce the coin, which has been used for decades in the country, while members of the Committee proposed to pre-empt the coin minting process by “deleting zeros” from the current currencies to be valuable to the small cash categories.

Committee member Hanin al-Qadu told Al-Sabah semi-official newspaper on Monday, 19 August 2019, that during meetings and discussions with central bank officials, we stressed the need to reintroduce coins that have been used in Iraq during the past decades, rather than Paper that is damaged and printed in large quantities again.

He added, that the use of metal categories and their descent for trading gives a notional value of the currency, noting that a number of neighboring countries exchange rates are very high against the dollar and yet we find that it has a coin in order to preserve the currency and not need to request more banknotes, especially those with small categories. He expressed surprise at the policy of the Central Bank, which does not favor the introduction of coins for circulation in the Iraqi market.

For his part, a member of Parliamentary Finance Majid al-Waeli readiness of the Committee to prepare any legislation required by the Central Bank, which could benefit the economy and the Iraqi market, including the circulation of coins.

Al-Waeli told Al-Sabah that the committee respects the independence of the central bank and its monetary policy, stressing that the bank has technical autonomy by decision regardless of administrative affairs.

While member of the Committee Jamal Cougar, that all countries in the Middle East and the world have a coin, indicating that this type of currency gives strength to its economy.

Cougar told Al-Sabah that he hoped that the concerned parties could strengthen the currency so that the small groups could have purchasing power in case of using coins. Committee member Ahmed al-Saffar said that the cost of the coin is more than paper, and that it is harder to carry on the citizen.

Al-Saffar told Al-Sabah that inflation in the economy prevents the minting of coins and makes them circulate among citizens, suggesting that there be a step to delete the zeros preceding the coinage process to be a value for small groups against.

It is noteworthy that on 19/12/2018 Hoshyar Abdullah, a member of the Parliamentary Finance Committee MP from the change bloc that the Ministry of Finance did not make any adjustments to oil prices and the sale of oil prices and the dinar against the dollar in the draft budget for the year 2019.

Abdullah wrote on his official page on the social networking site Elvis, that an official letter arrived from the Federal Ministry of Finance to the Council of Ministers, where he kept the price of a barrel of oil at $ 56 and kept the proportion of crude oil daily export by 3.88 million barrels, and the region must export 250,000 barrels of these The rate, pointing out that the Ministry of Finance also kept the price of one dollar against 1182 dinars as it was in the previous draft ..

Abdullah said that the new draft of the general budget does not differentiate from its predecessor and there are no amendments and that Shiites, Sunnis and Kurds did not approve the previous draft and the new amendments do not solve the problems of any of those parties and parties.

Majid Shankali, a member of the Parliamentary Economy and Investment Committee, said earlier that the Central Bank’s recent procedures for selling the dollar in the public auction contributed to raising the value of the dollar against the dinar. Trying to harm the national currency for their own benefit.

Shankali added that the central bank is required to take supportive measures for the Iraqi dinar and to fight those who tamper with the security of the national economy, because the country’s interest is above all else.

Shankali demanded, the government to accelerate the development of the banking and industrial sector, especially what we note these days there is a significant rise in the price of the dollar against the Iraqi dinar, as he put it, calling for investment law legislation to help bring international companies to Iraq to develop infrastructure, while attributed the parliamentary finance earlier The decline in the exchange rate of the dinar against the dollar to the decline of financial revenues belonging to the state from oil sales, indicating that oil was sold at more than $ 100 a barrel and today its price has reached below $ 50 and this means that the revenues decreased by 50%, which affected the exchange rate National.

The Parliamentary Economy Committee said earlier that it discussed with the Central Bank Governor Ali Alaq the main reasons for the decline in the exchange rate of the dinar and effective solutions to the return of stability, noting that the central bank will take new measures to maintain the hard currency and the return of the stability of the exchange rate of the dinar against the dollar, stressing that the sale price The dollar in accordance with Article 50 of the budget reflected negatively on the Iraqi citizen pushed the Finance Committee to demand pumping dollars in the market.

On June 27, 2019, as the FATF Financial Action Task Force (FATF) gave Iran until June of the same year to tighten its laws on terrorist financing and anti-money laundering, there was uncertainty about the actual sources of funding. Star Four, a Texas-based organization, reported on Feb. 13, 2012 that Iran was systematically stealing large quantities of Iraqi oil in the south, and that the thefts had helped the Iranian government overcome its plight as a result of the international economic embargo.  LINK

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MilitiaMan:  The Central bank will take new measures to maintain hard currency? Lol -in in other words are going to secure they can! By raising the exchange rate.. Coins? lol imo

Let’s look at this portion? Lol

“the Finance Committee will work to raise the price of the dinar against the dollar and give it strength among other currencies in the Arab world, or at least maintain the current exchange rate to have monetary power within Local market.“ 

This is not talking about a program rate!! Imo - mm

DELTA:  FAMILY ...IT'S ALL OVER THE NEWS NOW ALL ABOUT RAISING THE VALUE...

KTFA Members "News an Views" Sunday Afternoon 8-18-19

KTFA:

Samson:   Kurdish delegation visits Baghdad to resolve the budget and oil
18th August, 2019

The deputy of the Patriotic Union of Kurdistan Bakhtiar Shaways on Sunday, the two most important files to be carried by the delegation of the Kurdistan Regional Government of Iraq to Baghdad, which will visit in the coming days.

Shaways said in a press statement that "the two main files are, the oil differences between Baghdad and Erbil, and the draft budget 2020," noting that "work is continuing to calm and agreement and find an appropriate solution to these two files and other files, because the two parties agreed earlier to settle the differences instead of Deepening them. "

He added: "In the coming days before us a round of negotiations and the Kurdish delegation will visit Baghdad in order to reach a solution to the differences, and I think that the views between the parties are close."   LINK

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Samson:  Deputy Basairon Abdul-Mahdi: Your deadline is over and you have to take responsibility for your government

18th August, 2019
The deputy of the alliance of Sairon Riad Mohammed, on Sunday, the end of the evaluation period for the government of Adel Abdul Mahdi, calling on the government to take responsibility for the poor performance in the file of fighting corruption and the provision of services. 

Mohammed said in a statement to the information, that "the coalition of Saiiron strongly supports all the issued by the leader of the Sadr movement, Mr. Muqtada al-Sadr on the performance of the government." 

"The period granted to the government, which is a full year, is over and the prime minister must take full responsibility for failing to fight corruption, improve the performance of the local economy and provide services," he said. 

Al-Masoudi said, "The government failed to maximize the state's economic resources as planned in the budget, as well as the lack of reform of factories and lack of seriousness in the fight against corruption," noting that "the coalition is determined to hold accountable all negligent and corrupt during the next legislative term."    LINK

Samson:  Parliamentary services accuse the Minister of Transport of corruption: will be questioned in the next legislative term
18th August, 2019
A member of the parliamentary services committee, Mahmoud Mulla Talal, on Sunday, August 18, 2019, accused the Minister of Transport Abdullah Laibi of corruption, stressing that he has documents to prove it.

Talal said in a press statement that "the Minister of Transport is unable to manage the ministry," stressing "the possession of documents proving his involvement in corruption."

He pointed out that "significant violations have been detected in the contracts of transport companies and aircraft repair," noting that "will be questioned the Minister of Transport at the beginning of the next legislative term."

Talal said that "the work of the ministry did not move one step."   LINK

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Samson:   Nineveh Council: More than 7 thousand widows and 23 thousand orphans in the province

18th August, 2019
Nineveh Provincial Council announced on Sunday the registration of more than 7 thousand widows and 23 thousand orphans throughout the province, stressing the absence of financial allocations for their inclusion in social welfare programs.

Council member Hossam al-Abbar told Al-Maaloumeh that the latest statistics conducted in Nineveh province indicate that there are more than seven thousand widows and more than 23 thousand orphans.

He added that "these people need care, but the financial allocations prevent the provision of any social programs to care for them," noting that "those families live on what is provided to them by the people and relief organizations."

Alabbar warned that “some orphans are drifting into organized crime gangs if many are left to beg in the streets and are not cared for by the government.” LINK

Samson:  Economist: Budget 2020 will turn the country to an open market for international capital

18th August, 2019
Economic expert Jassim Mohammed, on Sunday, that the draft federal budget law for 2020 will turn the country into an open market for international capital.

Mohammed said in a statement to the information, that "the government will make an economic mistake in the budget of 2020 being a similar version of the budgets of previous years, as it was allocated for investment only 2%, in addition to the absence of development," pointing out that "the budget is no longer in the hands of competent and this matter Negatively affects its financial estimates.”

He added that "the government's fiscal policy in the preparation of federal budgets will turn the country to an open market for international capital," noting that "the preparation of the budget needs specialists to avoid recurring financial errors."

The parliamentary strategic planning committee, on Wednesday, attributed the high deficit of federal budgets to the absence of planning experts and the economy in the numbers of budgets, while showing that the surplus and deficit is estimated and away from reality.

Earlier, the Parliamentary Finance Committee revealed a large deficit in the budget of 2020 to reach 72 trillion dinars, after a year characterized by prosperity was a deficit of 27 trillion guesses compared to what is expected next year.  LINK

Jay:  Open mkt .    <--- = BOOOOOM!!!!!!!!!! 

Open Mkt -

In an open market, the pricing of goods or services is driven predominantly by the principles of supply and demand with limited interference or outside influence from large conglomerates or governmental agencies. Open markets go hand in hand with free trade policies, which are designed to eliminate discrimination against imports and exports. Buyers and sellers from different economies may voluntarily trade without a government applying tariffs, quotas, subsidies, or prohibitions on goods and services, which are considerable barriers to entry in international trade.

https://www.investopedia.com/terms/o/open-market.asp

 Jay: Today we also see that the frozen assets is enough to cover the budget deficit for 2020. So no worries there. She's a cookin….imo

Wishes:  not to be discouraged or negative but every years we all look for the budget, and guess what every year they pass the budget but without it actually opening it, it doesn't mean a thing, look at 2019 budget, they still haven't even open and start talk about  2020 being the open market, remember back in 2018 they said they approved the budget in record time in the history, well seems to me it doesn't mean a thing if they don't open it. what i'm trying to say is don't get overly excited just because they post something and had "international, open market, or mastercard" etc on it. talking is one thing, and actually doing it is another, so just wait and see. i only believe it when i see it.  

Jay:  Hello Wishes. No worries. I've been in this for almost 7 years my self. While you are absolutely correct, I think you may have miss understood my meaning. This IS a UUUUUGE choice of words for an economist to be using.  IMO.

Open market" and "Open Budget" are completely different animals. The United States is an "open market" for example. I think you are referring to "opening the budget".

I have never saw Iraq use those words when talking about an up coming budget. I totally get your meaning and I share your feelings towards Iraq and budgets. lol   We wait either way. Blessings.

Samson:  Political stability and our international relations

18th August, 2019 by Confident Jabri
Iraq has finally succeeded in building balanced relations with regional and active countries in the region, and proved that it is the axis of moderation and does not tend to party at the expense of another .. Or so trying .. It is a country of regional stability and investment, but its external success can not be achieved, without the need for other factors , To be a suitable platform for sustainable relationships.

The nature of political relations is based on economic, industrial, commercial and security partnerships.

The steps taken by the states are virtually binding, and no internal party can object to them. An active partner, and can not wait in the light of an international race on the Iraqi arena, and the presence of investment opportunities, which open the doors of the relationship between the parties, and take a stand by sure that it will fill his free from the partner.

The Iraqi government, too, offered a number of investments, and signed several agreements, but is subject to implementation and success by several internal factors, in order to proceed and implement its commitments; three main factors, namely stability, legislation and fighting corruption.

Iraq may have reached a state of security stability that allows companies to work in Iraq, but political stability is the most important, which often leads to insecurity, a pretext for terrorist acts, and the apparent political differences will give a bad impression of The Iraqi state, in irresponsible rivalry, does not provide a suitable ground for the confidence of the partner, and shows the weakness of the state, and lack of confidence in its partnership, in light of the overall statements, which are directed to the investor countries, or the reality of the intensity of political differences, and show Iraq as a collapsed state, can not be invested .

The other obstacle to investment and international partnership are those laws that hinder investment, undermine projects in the bureaucracy of red tape, and give way to corruption and blackmail, and they need legislation that allows investment and building balanced relations with countries on the basis of common interest, and Iraq's interest in priority. Corruption remains the most important and perhaps the most dangerous factor, and may divert project funds into mafias. .

All three factors have an impact on Iraq's investment of a historic opportunity, in a stable and invested environment that attracts international competition. Corruption has been severely hit and its mafias prevented from interfering in the nature of international partnership.   LINK