Thursday, May 14, 2020

WOTS WED May 13 2020

WOTS WED May 13 2020


Dollar prices are stable in local markets 
 The exchange rates of the dollar stabilized on the Kifah Stock Exchange and local markets today, Wednesday, (May 13, 2020).
The prices of the Kifah Stock Exchange - Baghdad recorded 123,850 dinars per 100 dollars.
Buying and selling prices in banking shops:
the selling price of the dollar = 124,500 dinars.
The purchase price of the dollar = 123.250 dinars.

The Markets: at 2:45 am Cali time
Asian markets closed mixed NIK down by .49 %  HSI down by .27 % SHNG up by .22 %
Our futures are currently green DOW at 23656 up .35% SNP green up by .29% NDX green by .45%
the UK markets are currently in the red  from .92% to 2.16% 

Precious Metals:
Gold red at 1702  Silver red at 15.67 Copper red at 235  Platinum green at 765
Brent red at 29 WTI 25

Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1163.8000  1219.1000 1192.4000 1190.8000 1191.9000  -1.5000 15:19
 USD/VND  23334.0000  23337.0000 23323.8900 23323.1000 23323.1000  1.6300 01:30
 USD/CNY  7.0925  7.0945 7.0949 7.0820 7.0820  0.0104 04:54
 USD/KWD  0.3087  0.3097 0.3089 0.3088 0.3089  -0.0001 04:46
 GBP/USD  1.2297  1.2298 1.2313 1.2250 1.2257  0.0040 05:07
 USD/IRR  42000.0000  42210.0000 42097.5000 42097.5000 42097.5000  97.5000 06:03
 USD/IDR  14815.0000  14833.0000 14916.0000 14823.0000 14898.0000  -76.0000 05:06

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Iraqi Articles:

The Central Bank of Iraq signs a "technical support" document with the World Bank

announced the bank 's central Iraq, on Wednesday, for the signing of the document arrangements banking with Bank International, referring to the goal of the document to obtain the support of technical and exchange of experience .
He said the bank, in a statement reported to the agency Twilight News, he signed a document arrangements for banking with a program consultant to manage the reserves of the Bank International (RAMP) Reserves Advisory & On Management the Program , explaining that it comes in the framework of its strategy for the development of management of its reserves of foreign in line with developments in the current And future . 
He explained that this document aims to enable the Bank central Iraq to obtain the support of technical than through the exchange of knowledge and experience in the field of management of portfolio investment based on the index performance which helps to maximize resources , financial, and building the head of capital human of through the sharing of knowledge and the development of expertise in the field The financial according to the best practices in the field of reserves management .
He said the central Iraqi, to that this program was developed from by the Bank International in the year 2000 , with a view to building capacity and providing services consulting and management of assets , and is the forum for a network of specialists , and serves more than 70 members around the world , mostly from banks , central, managing the nearly From (2)   One trillion dollars of sovereign asset

Two proposals for the budget for the current year and the House of Representatives awaiting its coming from the government

The Parliamentary Finance Committee confirmed, on Wednesday, that it is awaiting the sending of the draft budget law to the House of Representatives by the new government headed by Mustafa Al-Kazemi, while noting that there are two proposals on it.
Committee member Shervan Mirza said, "The House of Representatives is waiting for the federal government to send the Federal Budget Bill for 2020 to the House of Representatives."
He added, "There are proposals by the government that the budget be monthly or for a period of 6 months, but the closest proposal is that the budget be monthly."
He continued: "We are waiting for the government to see what is determined, but certainly the budget will not be the same that was prepared by the previous government headed by Adel Abdel-Mahdi, but will be modified according to the current stage."

The World Bank helps Iraq confront Corona with more than $ 30 million

The World Bank helps Iraq confront Corona with more than $ 30 million
 The World Bank announced, today, Wednesday, the allocation of more than 30 million dollars to help Iraq in the face of the Corona pandemic, indicating that this assistance will be in two phases, while the epidemic is expected to affect "poor and vulnerable families" in particular.
In a statement, in response to the outbreak of the Corona Virus (Covid-19) in Iraq, he said that he recently agreed to reallocate $ 33.6 million as part of the Emergency Operations for Development project ($ 750 million) to support the Ministry of Health's efforts to prevent the COVID epidemic. 19, discover and respond to it.
"This rapid and emergency response comes in two phases," the World Bank added, explaining that "it initially provided $ 7.8 million in available resources under the Emergency Operations for Development project to help fund the supply of basic medical equipment and supplies and enhance the capacity of the ICU ( ICU) in public hospitals to improve management of cases infected with COVID-19 ".
He continued, "Through cooperation with the United Nations Office for Project Services (UNOPS), health centers in Iraq will be given artificial respirators, beds for intensive care units and portable X-ray machines in addition to ECGs within four to eight weeks."
In a later step, the World Bank made clear in its statement that it "approved the request of the Government of Iraq to reallocate an additional $ 25.8 million in the framework of the project itself to provide additional quantities of medical equipment and supplies and support the training of health workers on the front lines in their use," noting "The expedited procurement procedures will ensure that UNOPS delivers timely medical supplies to the Ministry of Health."
Commenting on this, Saroj Kumar Jah, Regional Director of the Mashreq Department at the World Bank, said: “The epidemic is expected to afflict particularly poor and vulnerable families, expressing its willingness” to support Iraq’s efforts to contain the rapid spread of the virus and strengthen the Ministry of Health’s ability to absorb the additional pressure it creates. The epidemic on the Iraqi health system. ”
The bank emphasized that“ the process of reallocating resources will not affect the activities mainly monitored within the framework of the emergency operations project for development which aims to support Iraq in rebuilding the damaged infrastructure and re-providing public services in the targeted municipalities. ”
And he stated that, "drawing on the procurement and financial management procedures of the World Bank for the supply of goods, works and consulting services within the project, more than 3 million people in five governorates liberated from ISIS are already benefiting from better health services by rehabilitating the damaged clinics and equipping 14 mobile clinics 82 ambulances, and they benefit from 35% of reconnections to the electrical network and improvement in key municipal services by providing clean drinking water and waste collection plans, and restoring mobility by rebuilding 400 km of roads and 25 critical bridges The project also contributes to promoting confidence-building and reconciliation between the state and the citizen by training 79 non-governmental organizations and more than 1,000 young men and women in peaceful dialogue and reconciliation in their societies.
It is worth noting that the Emergency Operations for Development project was originally approved in July 2015 in the amount of USD 350 million, then additional funding for the project in the amount of USD 400 million was approved later in October October 2017 to allow the expansion of the geographical scope of the project activities Current cities to additional cities liberated from ISIS.

Al-Tamimi warns of a time bomb that could drop the government if it does not remedy the budget crisis

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The economist Wissam Al-Tamimi warned of new employees, owners of contracts and daily wages going out with millions of demonstrations due to the failure to pay their dues by the new government, stressing the need for the government to resort to several options to solve the budget crisis after the low oil prices.
Al-Tamimi said in a statement to the "information", that "the rise in oil prices to more than $ 30 a barrel does not serve the purpose and the budget remains below ambition, as the government will not be able to secure employee salaries beyond the first half of this year."
He added that "many of the new employees and owners of contracts and daily wages are still without salaries for more than 6 months, and therefore their dues must be secured, and otherwise they will demand their rights with large million demonstrations that bring down the government."
He stressed the necessity of resorting to the communications sector and extending the state’s authority over mobile phone companies in addition to satisfying Kurdistan’s funds and recovering them, and taking advantage of gas fields to finance the budget instead of resorting to external borrowing that will shackle Iraq with large sums over the coming years.

The Council of Ministers urges the Ministry of Oil to expedite the implementation of the oil and gas law

 The Council of Ministers urges the Ministry of Oil to expedite the implementation of the oil and gas law 
CBI, ISX,Dinar Guru:
CBI Update:  
Click on the link above for the latest update.
The CBI  rate is 1190.
The currency auction total sales amount $ 180,036,398 Auction held  today no cash 
ISX Update:    
5-13-2020  Newshound/Intel Guru Mnt Goat   Last week was amazing for nothing but optimistic news about Iraq. As I said before that once the good government is in place and oil prices rise we are going to see Iraq take off.
5-12-2020   Intel Guru MarkZ   [via PDK]   [Are 800 numbers real?]  According to my banking guys…these guys work in banking and helped set up redemption centers…they say yes …800 numbers are absolutely real.


5-12-2020   Newshound Guru MilitiaMan  Article: "The economic crisis" at the table of Al-Kazemi and the World Bank"  The World Bank and the IMF have been very vocal lately about immediate solutions and if there was a time to allow currencies into the SDR, the time is now as they put it. The last is based off their words last week real close. Iraq was the stage of some very important meetings and I suspect the members were asked if they were ready to facilitate Iraq into a social market economy. By the sounds of the way the USA and Iraq are mirroring each other financially and politically, shows we are in sync and the time has come to take Iraq in into the international world! Very powerful times we are in and witnessing! Here the...new PM again is hitting the ground running with the World Bank again... Wow...

5-12-2020   Intel Guru MarkZ   [via PDK]   No change is rates from Iraq yet…there is chatter to watch the publication of “The Gazette” tomorrow…  [Can we exchange without Iraq reinstating their currency?]  it will go at the same time…we won’t be exchanging until they revalue…and they will revalue at the same time the reset happens…[Do you still think we will be done and out the door by the end of May?]  Yes I think we will be done and out the door by the end of May.

5-12-2020   Newshound/Intel Guru Walkingstick  [via Frank26]  Are the auctions back?  The answer is yes.  Why are the auctions back?   They had to.  But just as fast as you saw the auctions return expect and prepare yourself for the auctions once again to disappear and be turned off again.  The reason for it is because they need to put in the REER.  Turning off the auctions caused them to learn a good lesson.  You see they didn't have cash.  They were short on the USD side...even with all of that and putting down the auctions the CBI was still able to maintain the exchange rate of the Iraqi dinar...

5-12-2020   Newshound Guru Pimpy   Article:   "Trump to Al-Kazemi: Iraq is a strong and important country ready to support its economy".  Wow...what are some of the ways Trump can help Al-Kazemi support its economy over there in Iraq?  Yep, you guys are thinking the same thing I am.  Change the rate...I'm telling you I've been doing the pee-pee dance a little bit on this.  It's a lot of activity.  A lot of talk about the economy.  I think if Trump really wants to keep Iraq in his good graces as well as the American people he'll just go ahead and change the rate.  This will kill three birds with one stone.  1.  It will kick-start the economy over here in the United States.  2.  It would kick start the economy around the world because so many people hold on to the Iraqi dinar.  3. It would help out the Iraqi people greatly...I like the fact there's a lot of activity going on between Trump, Mike Pompeo, the UN as well as Iraq.  This is big...

5-12-2020  Dinar Guru Update  The Central Bank of Iraq's website is down again this morning.  "Service Unavailable:  The server is temporarily unable to service your request due to maintenance downtime or capacity problems. Please try again later." The CBI website has been up and down for maintenance every couple of days lately...this is not a normal pattern.  Stay tuned as the gurus chime in on what they suspect is happening behind the scenes...

5-12-2020   Intel Guru Footforward  there will always be corruption of some kind. There will always be some reason to say a certain time isn't ideal [for the RV].  Now is as good of a time as any.


Catnip's Corner:
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ARTICLE 1-A (from PM Kadhimi's website; posted only on Arabic side, not on English side)
The Council of Ministers holds its second regular session, headed by Prime Minister Mustafa Al-Kazemi
The Council of Ministers held its second regular session, today, Tuesday, 12 May 2020, under the chairmanship of the Prime Minister, Mr. Mustafa Al-Kazemi.

The Prime Minister opened the session with a speech in which he emphasized that this government is the government of difficult challenges, the most important of which is the economic challenge, the fight against poverty and unemployment among young people, and the fair distribution of wealth, calling on ministers and government officials to stay away from courtesies, favoritism, political interference and work to develop state institutions, not political action.

The Prime Minister reaffirmed his commitment to protecting the right to demonstrate and not tolerating any aggression against them, and that the government aims to achieve their legitimate aspirations.

His Excellency added: We will not compliment the citizen’s dignity and the interest of the country.
We are working to save what can be saved, confront crises, and diversify state resources.

On the work of the armed forces, his Excellency stressed that the heroic army and security forces have endured a lot, and the prestige of the military and security institutions must be restored.

The Cabinet issued a number of decisions, including: -

1. Reducing and rationalizing the administrative structures of the state by providing each government agency with its vision in this field.

2. Take appropriate measures to legislate the laws required for the success of the e-government, and for ministries and government agencies to expedite their procedures to automate their work, especially in the area of customs and tax, and provide monthly reports on their rates of submission to the General Secretariat of the Council of Ministers.

3.Re-examination of the draft laws related to fighting corruption, and by activating the measures to combat it and strengthening their effectiveness, and emphasizing on strengthening the role of the institutions concerned with that from the Integrity Commission and the Federal Financial Supervision Bureau in coordination with the General Secretariat of the Council of Ministers.

4. Emphasizing the freedom to exchange information and the right to obtain it by expediting the legislation on the right to obtain information.

5. Assigning the Ministry of Planning in coordination with the concerned authorities to review instructions for implementing government contracts to ensure updating of the approved standards in the awarding of tenders, and also to update the approved standards in selecting investment projects.

6. Providing the Federal Service Council with the appropriate staffing for taking its role and exercising its duties.

7. Agreeing that the Reconstruction Fund for areas affected by terrorist operations implement mobile hospitals to quarantine and treat patients with HIV in the regions that are agreed with the Ministry of Health and the provinces through the grant provided by the Federal Ministry for Economic Cooperation and Development through the German Development Bank of (15,000,000) Fifteen million euros.

8. Accelerate the legislation of the general budget law in line with the requirements of the financial situation, the low level of the oil price, and diversify the budget sources.

9. Urging the Ministry of Oil to expedite the completion of the draft oil and gas law.

10. The Ministry of Labor and Social Affairs, in coordination with the Ministry of Planning and the Ministry of Finance, study the expansion of the base covered by the Social Protection Law by improving the inclusion mechanism through demographic targeting by adopting poverty and social research data and the study is presented within a period of one month.

11- Forming an emergency cell for financial reform, forming a cell to manage the financial situation in light of the current financial crisis, and setting the necessary solutions to achieve financial reform and improving the performance of financial institutions.
The cell is headed by the Prime Minister and he has the authority to authorize the Minister of Finance to manage the sessions in his absence and the membership of the Minister of Finance, the Minister of Foreign Affairs, the Minister of Planning, the Governor of the Central Bank, the Prime Minister’s advisers whom he calls His Excellency, the Secretary General of the Council of Ministers, and a representative of the General Secretariat of the Council Ministers,
The cell undertakes the following tasks: -

1- Ensuring the provision of financial liquidity.
2- Take decisions regarding financial reform by rationalizing spending, maximizing resources, and reforming financial institutions, including restructuring them.
3- Establishing financing plans for the reconstruction, development and investment projects, including financing resources and mechanisms outside of government spending.
4- Improving procedures and automating systems in financial institutions.

Media office of the Prime Minister
12-May-2020

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ARTICLE 1-B (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa Al-Kazemi receives the Special Representative of the Secretary-General of the United Nations in Iraq

Prime Minister Mustafa al-Kazemi, the Special Representative of the Secretary-General of the United Nations in Iraq, received Mrs. Jenin Henness Blaskhardt, who congratulated the formation of the new government, stressing that she looked forward to working with the new government to serve the sovereignty and stability of Iraq, and to support the government in implementing its program.

For his part, the Prime Minister welcomed the cooperation of the United Nations with Iraq in various fields, stressing that Iraq looks forward to strengthening the relationship with the international organization to serve Iraq, especially supporting the electoral process and combating the Corona pandemic.

Media office of the Prime Minister
12-May-2020

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ARTICLE 1-C (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa al-Kazemi receives the Special Representative of the World Bank Mission in Iraq

The Prime Minister, Mr. Mustafa Al-Kazemi, received the Special Representative of the World Bank Mission in Iraq, Mr. Ramzi Numan.

Ways were discussed to coordinate work between the Iraqi government and international institutions to overcome the economic crisis, and work to launch economic reform efforts that would encourage investment and reconstruction, enhance the service reality, and provide job opportunities.

Media office of the Prime Minister
12-May-2020

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ARTICLE 1-D (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa al-Kazemi receives a phone call from the Secretary General of the Arab League

Prime Minister Mustafa Al-Kazemi received a phone call from the Secretary-General of the Arab League, Mr. Ahmed Aboul Gheit, in which he conveyed his congratulations to Mr. Al-Kazemi on his assumption of the presidency of the government, stressing the support of the Arab League to Iraq and the new government in facing the crises in the region and the world.

The Prime Minister thanked the Secretary General of the Arab League,
He stressed the importance of coordinating Arab positions, overcoming internal Arab disputes, and promoting the Arab project to serve the aspirations of Arab peoples.

Media office of the Prime Minister
12-May-2020

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ARTICLE 1-E (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa Al-Kazemi receives a phone call from the British Foreign Secretary

Prime Minister Mustafa Al-Kazemi received a phone call from British Foreign Minister Dominic Rap, during which he congratulated Mr. Al-Kazemi on his assumption of the premiership, stressing the continued partnership and cooperation and Britain’s support to Iraq, and to address common threats, chief among them the war against terrorism,
Adding that Britain supports the Iraqi government politically, economically, and security, as well as in efforts to combat the Corona pandemic

For his part, the Prime Minister welcomed the development of relations between the two countries, in a way that would achieve mutual interests.
He invited the British Foreign Secretary to visit Iraq, and he promised to meet it at the earliest opportunity.

Mr. Al-Kazemi also wished the British people to overcome the Corona crisis and its repercussions.

Media office of the Prime Minister
12-May-2020

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ARTICLE 2 (from Government of Iraq twitter account)

Government of Iraq - الحكومة العراقية@IraqiGovt
5-12-2020 around 3 pm Eastern

PM@MAKadhimi welcomed the support of @UNIraq and underscored that the @IraqiGovt looks forward to strengthening cooperation between the two sides, and to the continued support for Iraq’s electoral process and its national efforts to combat #Covid19.

Government of Iraq - الحكومة العراقية@IraqiGovt
5-12-2020 around 3 pm Eastern
·
PM@MAKadhimi receives the SRSG for Iraq @JeanineHennis who offered her congratulations on the formation of the new
@IraqiGovt, and affirmed support in implementing its programme, and for Iraq’s stability and sovereignty.

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ARTICLE 3

Parliamentary Finance proposes 5 steps to alleviate the current crisis
12/5/2020 20:24
Where's the newbvs - Baghdad

Member of Parliamentary Finance Committee MP Jamal Cougar, on Tuesday, proposed 5 steps to alleviate the financial crisis in the country.

Cougar said in a press interview, "Iraq is going through a stifling financial crisis, and this is something that two cannot disagree on, stressing that there are 5 important steps that must be adopted to alleviate the crisis that created multiple factors, most notably the collapse of world oil prices."

Cougar added, "The steps that must be adopted are an attempt to postpone the payment of loans to be paid in relation to Iraq and to fight aliens and fake names as a national and moral duty and to end the file of multi-salaries and their numbers are not few and up to tens of thousands in addition to fighting financial and administrative corruption and ending the file of control of influential groups on border crossings ”

Cougar pointed out that "the financial crisis cannot be overcome without firm solutions and decisions that address all negative problems in order to ensure financial liquidity to secure salaries and the rest of government expenditures."

Iraq suffers from a stifling financial crisis that began to cast its shadows on many files, especially salaries, especially with the collapse of international oil prices, which secure the country’s treasury by about 90% of its financial revenues annually.

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ARTICLE 4

Blackshart: We welcome the formation of a new government in Iraq after a long wait
12/5/2020 18:54
Where's the news - Baghdad

The head of the UNAMI mission in Iraq, Jenin Blackshart, said on Tuesday that the formation of a new government in Iraq after a long wait is very welcome.

"Iraq needs a political will to be more just and prosperous," Blackshart said in a briefing to the Security Council.
She added that "the situation of Iraq does not allow it to be an arena for war or conflict from various forces."

Blackshart noted that "the formation of a new government in Iraq after a long wait is very welcome," stressing that "the United Nations will continue to support the Iraqi people and the Al-Kazemi government." It indicated that "the aspirations of the Iraqi Prime Minister, Mustafa Al-Kazemi, are worthy of attention and should be transferred to urgent measures."

She stressed that the political and security situation in Iraq is not allowed to be an arena of open conflicts. Also in her speech, Blashardt said before the Security Council: "One cannot exaggerate the magnitude of the challenges facing Iraq, as the existing political, social, economic and security crises have multiplied due to the Corona global epidemic and the significant drop in oil prices."

She stressed that "the priority (number one) remains to prevent the rapid spread of the virus, and we continue to support the authorities for that."

She called on political parties and forces to "favor the supreme interests of the country and the interests of the Iraqi people over narrow interests," noting that "the formation of a new government is a long-awaited and welcome development."

She stressed the need to expedite the "naming of the rest of the cabinet members in the new government, while ensuring that women and minority representatives obtain positions in the state administration."

The UN representative said, "Iraq must move away from managing endless crises to more productive approaches and building resilience at the level of the state and society," noting that "political and private accounts in the short term do not serve the interests of Iraq in the long run, but rather Quite the opposite. "

"The Iraqi economy is expected to contract by 9.7 per cent in 2020, with poverty rates rising to about 40 per cent, and large losses in employment income are expected, as well as a decrease in economic opportunities," said Blasharat.
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ARTICLE 5

Al-Maliki and Al-Ghanmi discuss internal security and law enforcement
12/5/2020 18:47
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The head of the State of Law Coalition, Nuri al-Maliki, received in his office this evening, Interior Minister Othman Al-Ghanmi, and expressed his welcome to the minister, wishing him success in his new mission.

A statement by al-Maliki's office stated that "during the meeting, developments in the security situation throughout the country and the efforts of the Ministry in preserving security and stability were discussed, and the executive role of the Ministry of Interior in the application of legal legislation was discussed."
Al-Maliki stressed "the necessity for the ministry to continue its responsible national role in order to achieve security and preserve the law and enhance stability in all regions of the country, and to strive to provide services to citizens."
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