WOTS MON AUG 24 2020
The Minister of Finance leads a delegation to the United Kingdom and holds its first meeting there
The Iraqi Finance Minister, Ali Allawi, arrived today, Monday, at the head of an official .delegation to the British capital, London British Ambassador to Baghdad Stephen Hackey said in a tweet, which I read (Baghdad today), that " I am pleased to welcome the visit of His Excellency the Iraqi Finance ".
Minister Ali Allawi to the United Kingdom, and I look forward to a fruitful visit The photos that Haki attached to the tweet showed that an Iraqi-British meeting was held in the presence of personalities from both sides, including the Iraqi ambassador to .London, Jaafar al-Sadr
The Minister of Finance in London .. to discuss these issues
Finance Minister Ali Allawi is discussing, in the British capital, London, a number of economic files.
The British Ambassador to Iraq Stephen Hickey said in a tweet on his Twitter account: "The Iraqi Finance Minister and members of the Iraq-British Business Council discussed how to revitalize the economy through trade and investment, providing jobs and prosperity, as well as providing more opportunities for the benefit of all Iraqis."
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1169.1000 |  1220.0000 | 1192.3000 | 1192.3000 | 1192.3000 | -1.0000 | 20:00 |
| USD/VND | 23177.0000 | 23180.0000 | 23168.8000 | 23164.6500 | 23164.6500 | 5.1900 | 22:51 |
| USD/CNY | 6.9124 | 6.9144 | 6.9198 | 6.9108 | 6.9184 | -0.0062 | 05:22 |
| USD/KWD | 0.3053 | 0.3063 | 0.3057 | 0.3056 | 0.3057 | -0.0001 | 04:48 |
| GBP/USD |  1.3121 | 1.3122 | 1.3130 | 1.3077 | 1.3089 | 0.0034 | 05:23 |
| USD/IRR | 42000.0000 | 42210.0000 | 43011.9000 | 43011.9000 | 43011.9000 | -43.1000 | 04:44 |
| USD/IDR | 14650.0000 | 14655.0000 | 14779.0000 | 14573.0000 | 14765.0000 | -89.0000 | 05:22 |
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A Kurdish MP talks about a comprehensive agreement between Baghdad and Erbil, which will be in effect until the end of 2020
A member of the Kurdistan Regional Parliament, Sherzad Hassan, confirmed, Monday, August 24, 2020, that Baghdad and Erbil have .reached a comprehensive agreement, stressing that what remains to declare it is the final touches, and then it will be implemented
In an interview received by Al-Masalla, Hassan said that the agreement will be in effect until the end of 2020 and will be related to salaries and sending .money in exchange for implementing the conditions of the federal government regarding control of border crossings and the rest of the files
He added that other agreements on oil will be within the 2021 budget, which will be the prerogative of the Kurdish representatives in the government .and parliament in order to obtain the rights of the region and confirm them in the budget law
And he indicated that a delegation from the regional government intended to visit Baghdad, and the visit was postponed due to Al-Kazemi's travel to Washington, and that it is most likely at the beginning of next week that the delegation will be in Baghdad to complete all files and sign a comprehensive .agreement until the end of 2020
And the Minister of the Kurdistan Region for Negotiation Affairs with Baghdad, Khaled Shawani, announced on Sunday August 16, 2020, that an agreement had been reached between Baghdad and Erbil to unify customs and ports in accordance with federal controls and the budget and would .continue until the 2021 budget is approved
Shwani said in a statement, that after a series of visits by the delegation of the Kurdistan region, headed by Qubad Talabani, with the aim of obtaining financial dues for the Kurdistan region and the salaries of employees, and after a number of meetings, and changing the proposals and notes for 12 .times, the agreement was announced between the two parties
He added that the negotiations witnessed a lot of ebb and flow, and the process was difficult and complicated, and our efforts were seeking to secure .the financial rights of the region’s employees and protect the constitutional rights of the Kurdistan region Shwani explained that the agreement includes sending 320 billion dinars per month to the Kurdistan region, and it deals with a set of other files, such as monitoring, auditing, the mechanism for handling many financial and economic files, and the mechanism for dealing with the revenues of border .crossings under the Federal Financial Management Law No. 6 of 2019
An amount of 320 billion dinars, sent from Baghdad to Erbil, is scheduled to arrive tomorrow, Monday, according to an agreement reached by the Prime Minister, Mustafa Al-Kazemi, and the President of the Kurdistan Regional Government, Masrour Barzani, in a phone call yesterday, to disburse the .salaries of Kurdistan Region employees .
A source in the Kurdistan Regional Government stated that the Council of Ministers decided to send this amount to the region tomorrow
The Ministry of Finance in the Kurdistan region currently has a liquidity of 400 billion to disburse salaries, and with the arrival of 320 billion dinars, the .total amount will be 720 billion, but it is still not sufficient to disburse salaries in full without deduction, as this costs the government 890 billion dinars
To keep Baghdad away from Iranian energy. Washington pushes for new Iraqi-Saudi project
The United States is pushing for a new Saudi-Iraqi energy investment project, a US newspaper reported on Monday, noting that it is "towards completion."
The Wall Street Journal reported that the United States is seeking to integrate Iraq with its gcc energy investment neighbors, noting that the Administration of U.S. President Donald Trump has urged Baghdad to move forward with cooperation with these countries on the electricity grid connectivity project, a move to reduce Baghdad's dependence on Iranian energy.
Washington has granted Iraq an exemption from sanctions on Iranian energy imports on humanitarian grounds related to Baghdad's sinking into the dark without such energy as Iraq tries to reduce its dependence on Tehran.
The networking project has been the subject of intense consultations in recent months, and was discussed during the visit of Iraqi Prime Minister Mustafa al-Kadhimi to Washington last week.
Iraqi Finance Minister Ali Allawi said last Friday that the project "is about to be identified, designed and put into tender," adding that "the electricity grid in Iraq is likely to be linked to the networks of Saudi Arabia and Kuwait."
A spokesman for the Saudi Energy Minister said the agreement "is progressing towards completion" and includes an option for a direct link between Iraq and Saudi Arabia.
"We've been working on this," said a senior Trump administration official, referring to the connection of Iraq's electricity grid to the GCC countries.
Saudi Arabia recently began talks on possible investments in the $2.2 billion Artawi field project, which aims to redirect the large amounts of natural gas iraq wastes toward power generation, according to Iraq's finance minister and a Saudi oil official.
Riyadh is also considering joint investments in solar energy inside Iraq and electricity exports from renewable projects in Saudi Arabia to supply Iraq, the spokesman said.
Iraqi-Gulf relations were severed after former Iraqi President Saddam Hussein invaded Kuwait in 1990, before the United States established an international coalition to liberate Kuwait in February 1991.
After the fall of Saddam Hussein in 2003, governments close to Tehran dominated Baghdad, accusing Riyadh of siding with the Iranian regime.
With al-Kadhimi's recent arrival at the head of the Iraqi government, this choice has boosted Iraq's efforts to improve its relationship with Riyadh and other Gulf states.
Iraq is facing increasing difficulties in meeting the growing demand for electricity, as problems with the electricity grid have worsened, but Baghdad needs to modernize its electricity infrastructure in order to receive the flow of energy from Saudi Arabia and Kuwait.
Al-Kadhimi told reporters thursday after a meeting with President Trump that U.S. officials helped facilitate meetings in recent months between Iraqi electricity and energy officials and their Gulf counterparts.
On August 17th, Iraqi Ministry of Electricity spokesman Ahmed Musa said that the first phase of the Gulf link would take 14 months.
If the Gulf side starts implementing the first phase of the Gulf connectivity, they need a time limit of approximately 14 months to complete this phase of 500 MW, he said, according to the Iraqi News Agency.
The ministry of electricity spokesman pointed out that Iraq has completed the fao abu floss line No. 1, and fao manufacturing plant 400, and remains the line "FAO AbuFlus No. 2", which has a completion rate of 60%, stressing that the governor of Basra pledged to complete this line and thus Iraq completed 80% of the belongings.
Sairoun: The agreements that Al-Kazemi concluded with Washington are a blow to the Iraqi economy
MP for the Alliance of Saeron Raad Al-Maksousi called on Monday to solve the secret of the mixture in the eight billion agreement that Al-Kazemi concluded with Washington, warning of a new deal led by the United States of America to slap the Iraqi economy.
Al-Maksousi said in a statement to "the information", that "Al-Kazemi was supposed to deal with Washington as the prime minister and not a student directed according to the desire of the US government," he said.
He added that "signing agreements and deals worth billions of dollars would be the biggest weight for the American side, while it is no longer on the Iraqis without the media aura without mentioning its dimensions or terms and the size of the economic return from them," warning of "a new deal led by America to slap the Iraqi economy."
Al-Maksousi stressed "the importance of knowing what the Chinese agreement has come to, and has it been activated or is it based on the shelves like its predecessors from the decades that exhausted the Iraqi economy."
CBI Update: Just a note:They have been having auctions and the ISX has been trading regularly the sites just don't update in time to put the information in this report, unless it is
here.
here.
The currency auction total sales amount $ 248,864,816.
including $25,200,000.
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
8-23-2020 Newshound Guru Pimpy ...Al-Kazemi is the man. He didn't waste no time. He found out exactly what they needed to do. What they needed to get done. Hell the man started getting things done on the way back as well. He did not play around...this man is no joke...He went there [Washington] on a mission and he accomplished a lot IMO...What I don't want to see happen is people get immune to the good news and you become impatient. Everything we're seeing one step at a time seems to be a great step in a positive direction...we are definitely getting there.
8-23-2020 Newshound Guru MilitiaMan Article: "A Project To “Automate” Customs And Ports, In Agreement With A Well-Known Company" The border crossings and customs have been in a work in progress for some time and suggesting now they have completion with electronic system that will not be done by hand where corruption lays! Electronic systems provide transparency and this new PM knows it and with his new deputy in place they’ll make sure the systems work in the citizens best interest...His goal is to secure finances to help pay salaries and bring confidence to his people...The finance minister has not released salaries, yet...My view is there is a reason for that and it is what we are looking for. A change to the way and or amounts that will be paid...A-good sign is pressure is on from the lack of liquidity and payments. The citizens want to get paid...imo.
8-23-2020 Intel Guru RayRen98 I DON'T KNOW WHY...SOME BANKERS ARE EXCITED ABOUT THE END OF "THIS" WEEK...TIME WILL TELL!! [...if the bankers are indicating excitement enough to possibly reach out to their clients, is this behavior coming from more than 1 source or more than 1 bank source? Seems posi+ive towards our goals.] YEP!!
8-23-2020 Intel Guru RayRen98 Weekend UPDATE...SATURDAY - US troops are withdrawing from a base near Baghdad, the base will be turned back over to Iraqi troops on Sunday. A recent audit reveals 11 billion dinar stolen from last Wednesday's currency auction. Al-Kadhimi is at home today. The violence in Basra is lead by Turkish connections. Supposedly, the Sadr group is threatening Al-Kadhimi since his return from Washington.
8-22-2020 Newshound/Intel Guru Mnt Goat Article: "US President Trump meets with Iraq prime minister Al-Kazemi last Thursday. Discussions and agreements went well in all directions." Quote: "A high-ranking official in the US administration in the White House said that our talks with Prime Minister Mustafa Al-Kazemi went well and will help ensure that there is no "malign influence of Iran." US companies to expand into Iraq with billions to help rebuild the war torn country still since 2003." [Everything is on track, momentum is picking up...] ...you are correct...
8-22-2020 Newshound Guru Kaperoni The four contracts that were signed over the past few days with Iraq are a good start to launching investment and ultimately a private sector but it's up to Iraq since they still have laws to pass as well as creating the conditions for more investors to participate.
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