Wednesday, February 26, 2020

WOTS MON FEB 24 2020


Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  0.0000  0.0000 1193.3000 1192.3000 1193.3000  -0.2000 00:00
 USD/VND  0.0000  0.0000 23228.9500 23220.0200 23220.0200  10.3600 00:00
 USD/CNY  7.0301  7.0321 7.0363 7.0261 7.0262  0.0036 04:47
 USD/KWD  0.3060  0.3070 0.3063 0.3062 0.3063  -0.0002 04:36
 GBP/USD  1.2905  1.2905 1.2954 1.2887 1.2949  -0.0052 04:48
 USD/IRR  0.0000  0.0000 42097.5000 42097.5000 42097.5000  97.5000 00:00
 USD/IDR  13921.0000  13921.0000 13934.0000 13778.0000 13800.0000  142.0000 04:47

Things in the News...

only headlines about Corona Virus

Iraqi Articles:

The US Secretary of State reveals the details of his call with Allawi  

US Secretary of State Mike Pompeo revealed on Monday the details of his phone call with Prime Minister-designate Muhammad Allawi, while stressing the need to take urgent measures to meet the legitimate demands of protesters in Iraq.
Pompeo said in a tweet posted on his account on Twitter, "We welcomed the promises made by Allawi himself in holding early elections in the country."
Pompeo reiterated "the commitment of the United States to support Iraq," noting "the need to end the violence affecting Iraqi protesters."
Pompeo called for "subjecting those responsible for the violence to legal accountability," noting "the importance of taking urgent measures that meet the legitimate demands of protesters in Iraq."
For her part, said US State Department spokeswoman, Morgan Ortagos, "Pompeo urged Allawi to resolve differences with Kurdish and Sunni political leaders in Iraq to ensure success in pursuing the vital tasks facing his government."
"Pompeo also stressed that Iraq is obligated to protect the forces, installations and diplomats of the United States and the international coalition," she added.
Yesterday, the Prime Minister’s Office issued a statement confirming that Prime Minister-designate Muhammad Tawfiq Allawi received a phone call from US Secretary of State Mike Pompeo, while noting that the two sides stressed the need for coordination and joint action.

Parliament presidency sets next Thursday as the date for the special session to give confidence to the government

On Monday, the Presidency of the House of Representatives agreed to set a date for the session to give confidence to the government of Prime Minister-designate Muhammad Tawfiq Allawi.
A statement of Al-Halbousi’s office, which received / information / copy, stated that “The Presidency of the Council of Representatives held, today, Monday, a special meeting to discuss setting a date for the special session to give confidence to the new government.”
The statement added, "The Presidency decided during the meeting to hold the special session scheduled to vote on granting confidence to the new government next Thursday at 1:00 p.m., with the Prime Minister-designate to send the ministerial curriculum and CVs for the candidates before the session date according to the texts mentioned in the internal system of the House of Representatives."
The Presidency of the Council called on the Prime Minister-designate to "accelerate the dispatch of the government curriculum and CVs to ministers before a session is held next Thursday.

The central bank issues the Banking Law Book

The Central Bank of Iraq issued a new book in which it compiled banking laws as published in the Iraqi Fact Sheet, to facilitate and reduce time for professionals, researchers and dealers in those laws, with the deposit number 3005 for the year 2019 in the Iraqi Books and Documents House.
 
The Central Bank of Iraq
information Office
2/24/2020
 It appears the link is live now  260 pages
»To view the Banking Law Book ... click here   it's not a live link so I can't clic
k it  




The Central Bank issues the brochure of the Foreign Currency Sales Window for 2019

The Central Bank issues the brochure of the Foreign Currency Sales Window for 2019

the link is not live so I can't open it
The Central Bank of Iraq issued a brochure entitled: “The window for selling foreign currency in the Central Bank of Iraq ”, which clarifies the administrative framework for financing imports and the mechanism of selling foreign currency to banks in covering their customers ’requests, and the process of collecting and sterilizing the local currency considering that this bank represents the monetary authority in Iraq.
 
The Central Bank of Iraq
information Office
2/24/2020 
 
»To view the brochure " The Foreign Currency Selling Window in the Central Bank of Iraq "... click here

Economists warn of recession because the draft budget for 2020 is not approved
Economists feared the repetition of the 2014 experience by making Iraq without a financial budget, as a result of the political tension resulting from the ongoing protests since last October, which led to the resignation of the government headed by Adel Abdul-Mahdi and its transformation into a caretaker government that is not authorized to send the draft budget budget to Parliament .
The current year’s budget (according to the government’s proposed project) is 162 trillion dinars (135 billion dollars), with a planned financial deficit of 48 trillion dinars (40 billion dollars), including three trillion dinars (2.5 billion dollars) to implement the projects agreed with China .
The government was late in sending the draft budget to include the reform decisions that cost the country more than ten trillion dinars ($ 8.3 billion ).
And the financial advisor to the Iraqi government, Dr. Mazhar Muhammad Salih, warned of the dangers of not approving the draft budget this year and entering Iraq into a depression six months from now .
Saleh said that public spending in Iraq constitutes about 45% of the gross domestic product, and that this spending and its high composition through a planned annual budget have wide positive effects on achieving the real planned growth rates in the national product itself and in particular the use of the main production forces .
He pointed out that the delay in approving the budget means a delay in the completion of new investment projects covered by the allocations of the federal budget 2020, and it will give a negative signal to investors in the private sector to start their investments .
Saleh added that stopping the approval of the budget and the failure of the planned or new investment spending will lead to increased unemployment rates and high poverty rates due to the annual growth of the population and the workforce that aspires to work, and thus will interfere with many interconnected and dependent interests on investment spending, especially the new government that ultimately leads To stagnation .
He continued that the recession of more than six months leads inevitably to the recession, which means that the economic losses will widen to the joints of the economy on a large scale and this is what must be avoided .
Meanwhile, member of the Parliamentary Finance Committee, Ahmed Hama, said that the financial budget for Iraq is now spent according to the "12/1" mechanism, which means spending on salaries only, and this will harm the country's economy because it will disrupt development, noting that the resigned government was late in sending the bill to Parliament because of the high deficit .
He added that the new government takes several days to send the draft law to parliament, and the project also needs to be read and approved in parliament for some time, so we may exceed the first quarter of this year without a budget .
He noted that Iraq will not be able to implement the Chinese agreement, because its provisions are part of the budget and need to be approved by Parliament .
For his part, Iraqi economist Aqeel Al-Ansari said that the delay in approving the budget has major negative repercussions on the Iraqi economy, as it would send an unsuspecting message to investors and delay the investment operations in small and medium projects, while large projects are now suspended .
He pointed out that the financial budget in Iraq has two wings, one operational and one investment, and that delaying the approval of the budget means converting the budget into a payroll budget only and canceling the investment, and consequently high unemployment and its economic consequences such as entering the country in an economic recession, especially in light of the low demand for oil (The main source of income in the country) after the spread of Corona virus in China .
Al-Ansari added that if the situation remains as it is, it means increasing chaos and organized crime, opening the door to thefts from politicians and power parties, and continuing the popular curse of the political system in general .

Computing and its economic effects

also it translates  Governance and its economic implications
Governance and its economic implications

In a remarkable approach, participants in a recent panel discussion on governance and its economic implications, during which an Iraqi international expert specializing in governance enriched us with his analytical study of a microcosm of the impact of governance in addressing the unemployment crisis.
The study was designed on an elected sample of the special labor market by proposing the conversion of 400,000 shops and approving their conversion to small, medium and limited companies.
The study showed that 200,000 jobs could be created if applied, assuming 10 percent of new jobs were created as a result of this shift of study conducted in Iraqi Kurdistan by the Vice-Chancellor of Nowruz University, a super-youth capacity that was able to convince the regional government to It will help reduce unemployment among university graduates for various disciplines and is expected to be implemented soon.
What is the lesson envisaged by this procedure?
The lesson of a major achievement that prompted me to address it in this column and the evidence of this achievement reflects first that the results achieved are the result of the cooperation and real partnership between the public and private sector and the extent to which the territorial government is dependent on studies and their results, even if they are private universities, as well as their faith. With the capabilities of the private sector, its decisions are right and supportive.
It also demonstrates the existence of a solid private sector that believes in the results of research and is ready to cooperate and implement its recommendations as it contributes to its performance.
 And its evolution.
These results indicate the scale and impact of governance in overcoming the challenges and difficulties facing the country in addressing unemployment and combating corruption through the activation of the strict oversight body emanating from good governance as the basis for implementing its programs, which are the most important in the reforms processes. Economic, political and administrative in one basket.
Citing governance, its important effects and impressive results, it and its applications are one of the most important requirements of the international evaluation of the selection of countries to cooperate and deal with them, both in investment and large banking transactions. 
Being one of the most prominent indicators of trust and trust in international relations for that was our calls here in the morning and on this same economic page the adoption of the approach of governance to solve the challenges, but we are still late, and now it is time to launch governance and bring the high leaders in different fields in Advanced governance courses?
We keep going.
CBI, ISX,Dinar Guru:
 
CBI Update:
 
 
Click on the link above for the latest update.

The CBI for Monday Feb 24th  rate is 1190.
The currency auction total sales amount $ 234,528,970.   


ISX Update:   At my last checking 
 ended in GREEN

Shares Traded:  584,498,470  
Value Traded: 706,562,335

Dinar Guru Chatter:
 

2-23-2020   Newshound Guru Kaperoni    I am very optimistic with this investment I just don't buy into the overnight RV/RI...Not how currencies work not how monetary policy works.

2-23-2020   Intel Guru Delta  URGENT FROM IRAQI TV:  Postpones the confidence-giving session for Allawi's government from tomorrow to next Wednesday...

2-23-2020   Intel Guru Footforward   I suspect Allawi will have a government seated with very little drama and he will get more done in 30 days then anyone else has done in the last 15 years in Iraq.

2-23-2020   Newshound Guru Kaperoni   ...You cannot arbitrarily raise the value of a currency to whatever you think it was before or should be. A currency's value is set by market forces.  Even if you were going to raise the value substantially in Iraq they would LOP first deleting the zeros off the currency so it would be a minimal gain of 1X or 2X times your investment. No chance of a significant revaluation with so much currency in circulation... 42+ trillion currency in circulation is more than two and a half times the entire country's net worth. The only way to raise the value is gradually so that the currency in circulation can also be reduced. But it has been well documented that Iraq's intent is to create a market economy private sector and encourage significant investment into the country. Doing so would allow the currency to appreciate (float) as a result of significant inflationary pressure created by investment
And since that appears to be the plan there is no chance of a significant overnight RV/RI it's going to take time meaning months or years for the currency to go up in value.

2-23-2020   Newshound/Intel Guru David M. Witty  Iraqi source says political blocs are placing stipulations on new PM designee Mohammed Allawi for formation of government: 1) foreign forces must leave, 2) US access restricted, 3) ministry positions for political blocs, 4) displaced persons returned.  Iraqi Parliament to vote on giving confidence to PM nominee Mohammed Allawi on Wednesday.

2-23-2020   Newshound Guru chattels  Article:  "Parliament’s session to give confidence to Allawi’s government will be held next Wednesday"    Monday's emergency session for the presentation of Allawi's government is not [now?] rumored to be Wednesday. 


Catnip's Corner 

*************
ARTICLE 1 (from PM Mahdi's website; posted only on Arabic side, not on English side)

The designated Prime Minister receives a phone call from US Secretary of State Mike Pompeo

Prime Minister-designate Muhammad Tawfiq Allawi received, today, Sunday, a phone call from US Secretary of State Mike Pompeo, and Mr. Pompeo congratulated the Prime Minister, wishing him success in his new assignments, in turn thanking Mr. Allawi, the Secretary of State, for contacting.

During the call, a review of the latest political developments at the regional and international levels, and the emphasis on the need for coordination and joint action, and the support of the United States of America to Iraq in various fields in order to preserve the sovereignty of Iraq and achieve economic prosperity and activation of cooperation frameworks between the two countries.

Media office of the Prime Minister
23-Feb-2020

*************
ARTICLE 2 (from Government of Iraq twitter account)

Major Mohammed Omar works with a mobile passport team in Sulaymaniyah, visiting elderly applicants and those with health problems to guide them through the process of obtaining a passport. Let us meet him in this edition of #DedicatedToService #والنعم_منك

*************
ARTICLE 3

Allawi receives a call from US Secretary of State Pompeo

2/23/203 23:46 
Baghdad

Prime Minister-designate Muhammad Tawfiq Allawi received, today, Sunday, a phone call from US Secretary of State Mike Pompeo, and Mr. Pompeo congratulated the Prime Minister, wishing him success in his new assignments, in turn thanking Mr. Allawi, the Secretary of State, for contacting.
During the call, a review of the latest political developments at the regional and international levels, and the emphasis on the need for coordination and joint action, and the support of the United States of America to Iraq in various fields in order to preserve the sovereignty of Iraq and achieve economic prosperity and activation of cooperation frameworks between the two countries.
*************
ARTICLE 4

The Kurdistani Democrat reveals a close political agreement with Allawi to vote on his government

2/23/2020 19:45 
[Erbil-Wayne]

The leader of the Kurdistan Democratic Party, Mahdi Abdel Karim, revealed a political agreement with Prime Minister-designate Muhammad Tawfiq Allawi for a vote that will be decided in the coming hours to pass the cabinet.

Abdel-Karim said in a press statement that "there are serious discussions between the Kurdish delegation and Allawi about the participation of the Kurds in the government," noting that "there is an understanding now by the commissioner on the candidates."

"It will be agreed between the two parties on the nominated personalities, and before that by Allawi," he added.

Abdel Karim indicated that "until now, the ministries that belong to the Kurds have not been confirmed and will be discussed over whether they (financial and justice) and others", noting that "an agreement will be reached within the coming hours."
*************
ARTICLE 5

The popular crowd arrested the general coordinator of ISIS outside Iraq

22/2/2020 21:10 

A source familiar with the matter said that a special force from the intelligence of the Popular Mobilization Operations Command in Nineveh had arrested an official of the so-called Tribal Bureau of criminal groups and the coordinator of the organization outside Iraq.

The source added that "in a specific qualitative operation carried out by a special force of the Popular Mobilization Operations Command in Nineveh and with the support of the (33) Brigade of the Operations Command, resulted in the arrest of an official of the so-called Tribal Bureau of criminal groups and coordinator of the organization outside Iraq". And that "the arrest process took place inside the city of Mosul."

*************
Posted by at
Labels: , , , , , , , , , , , , , , , , ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)