The U.S. dollar rose on Wednesday on the Baghdad and Erbil stock exchanges.
According to a reporter for The Shafq News Agency, the Central Struggle Stock Exchange in Baghdad recorded 123,600 dinars for $100.
Al-Harithia exchange recorded 123,650 dinars against US$100.
The Iraqi markets recorded an exchange rate of 123,500 dinars against 100 US dollars yesterday.
Selling prices in local market banking stores in Baghdad
Selling price 124,000 JD
Purchase price: JD 123,000
In Erbil, the capital of Iraq's Kurdistan region, the sale price was 123,650 Iraqi dinars against 100 dollars, up from 123,500 dollars on Tuesday.
According to a reporter for The Shafq News Agency, the Central Struggle Stock Exchange in Baghdad recorded 123,600 dinars for $100.
Al-Harithia exchange recorded 123,650 dinars against US$100.
The Iraqi markets recorded an exchange rate of 123,500 dinars against 100 US dollars yesterday.
Selling prices in local market banking stores in Baghdad
Selling price 124,000 JD
Purchase price: JD 123,000
In Erbil, the capital of Iraq's Kurdistan region, the sale price was 123,650 Iraqi dinars against 100 dollars, up from 123,500 dollars on Tuesday.
Asian markets closed mixed NIK up by .41% HSI up by 1.42% SHANG down by .63%
The UK markets are currently trading mixed 2 down from .15% to .35% up from .13% to .79%
Our futures are currently trading up DOW at 27862 up by .90% SNP at 3354 up by .74% NDX at 10970 by .85%
Precious Metals:
Gold is green at 1932 Silver is red at 25.80 Copper is red at 286 Platinum is green at 943
Brent 45 WTi 42
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  0.0000 | 0.0000 | 1193.5000 | 1192.0000 | 1193.5000 |  0.3000 | 00:00 |
| USD/VND | 23175.0000 | 23177.0000 | 23168.6200 | 23166.5500 | 23166.5500 | 2.6500 | 05:02 |
| USD/CNY | 6.9441 | 6.9461 | 6.9559 | 6.9433 | 6.9450 | -0.0010 | 05:03 |
| USD/KWD |  0.3056 | 0.3066 | 0.3056 | 0.3056 | 0.3056 | 0.0000 | 02:55 |
| GBP/USD | 1.3047 | 1.3048 | 1.3067 | 1.3017 | 1.3047 | 0.0001 | 05:06 |
| USD/IRR | 0.0000 | 0.0000 | 43011.9000 | 43011.9000 | 43011.9000 | -43.1000 | 00:00 |
| USD/IDR | 14744.0000 | 14746.0000 | 14830.0000 | 14611.0000 | 14777.0000 | -34.0000 | 05:06 |
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Iraqi Articles:
The United States is facing charges that it is condoning the flow of money to Iran through Baghdad
The "currency auction" is a major corruption gateway in Iraq
The United States is facing charges that it is condoning the flow of money to Iran through Baghdad
ince the compass of Iraqi Prime Minister Mustafa Al-Kazemi's movement began to become clear, his focus on economic issues has become evident, as he sets his sights on four main files: controlling border crossings, fighting corruption, dismantling the influence of armed factions on financial outlets, and strengthening local industry.
But the road to these files necessarily passes through the gate of the Central Bank, specifically, the so-called currency auction, so Al-Kazemi will need the help of the governor of the "central" Ali Alaq.
Informed sources say that the two men (Al-Kazemi and Al-Alaq) enjoy a "distinguished" relationship, which may facilitate the settlement of these issues.
However, signs of progress in this file have not been clear so far, with members of the Finance Committee in the Iraqi parliament speaking about the Central Bank's "exploitation" of its powers as an "independent body" in not dealing with the problems that the legislative and executive authority are raising.
The basic idea of the currency auction revolves around "selling dollars to private banks and money transfer companies to manage the import of goods."
The Treasury Department had included Iraqi banks - dealing with the auction - in the sanctions list on more than one occasion.
With economists describing the currency auction as a "dollar depletion front and an opportunity for some banks owned by influential parties to achieve large profits," most of the estimates talk about more than 500 billion dinars sold by the Central Bank in its continuous daily operations since 2003.
Washington and adjust the currency auction
The issue of the currency auction remains a matter of questions and suspicions, especially with frequent talks about Washington's ability to control the financial movements of the entire Central Bank of Iraq, as all major Iraqi transfers pass through the US Federal Reserve.
Close to Iran accuses the governor of the Central Bank of being an ally of the United States, given the quick response that he shows whenever decisions or sanctions are issued by the US Treasury, especially those that have targeted armed faction leaders linked to Iran.
People close to Al-Alaq reject these "allegations", and stress that one of the central bank's most complex tasks is to maintain the flow of dollars into the local market and prevent problems that may cause sanctions against Iraq in the event of failure to respond.
But the issue does not appear to be limited to managing the dispute between Washington and Tehran. Many observers accuse the central bank of running a "corruption balancing act" between the United States and Iran's allies in Iraq. What was reported by "The New York Times" in its last report, about the possibility of "American complicity" in facilitating the work of the Central Bank, was not a conversation that was heard for the first time in Iraq.
The United States is facing charges that it is condoning the flow of money to Iran through Iraq. The American newspaper’s report says that “the US Treasury Department often turns a blind eye to money laundering operations taking place in Iraq,” while the report explicitly accuses central bank officials of colluding with companies that provide cover for the participation of terrorists in the auction.
"Washington eases pressure on Iran via Baghdad."
Abdul Rahman Al-Mashhadani, a professor of political economy at the Iraqi University, said, "All financial operations of Iraq are monitored by the United States, but there is a clear overlook of them."
It reveals "the entry of non-Iraqi banks into the currency outlet, including Lebanese and Iranian banks, which receive daily quotas estimated at 5-8 million dollars."
He points out that "Iraq's commercial dealings with Iran do not take place through the banking system due to the penalties imposed on it, and most transactions are done through direct payment," indicating that "several evidences for this, including very inflated numbers regarding the import of roses, tomatoes and watermelons at inflated prices." Exceeds Iraq's need. "
15 percent money laundering rate at auction
On the money laundering operations that mar the currency auction sales in the Central Bank, Al-Mashhadani estimated that the money laundering proceeds from the daily sales of the Central Bank would be about 15 percent, indicating that "the talk about currency auction being a gateway to corruption and money laundering abroad has been taking place since 2010." .
He added, "influential political parties standing behind the banks that own shares of the auction have also become outlets for merchants' transfers, and a percentage of them are affected by money laundering operations."
He points out that "despite the central bank throwing the responsibility for these suspicious operations on other parties, but it cannot get out of the liability framework," indicating that "he must check after raising suspicions for years that the auction has become an open space for corruption and any bank is supposed to be excluded." Suspicions are answered. "
He continues, "Numerous evidence of banks submitting invoices in the names of fake companies and these files are supposed to be referred to integrity, and this raises questions about the central failure to take strict measures."
An outlet for money laundering and financing armed groups
The European Commission had included Iraq, along with other countries, in the list of countries that pose financial risks to the Union because of the failure to combat money laundering and terrorist financing.
The sensitivity of the currency auction file is based on the fact that it is the only outlet for the removal of hard currency from the country, as it is considered an anchor for economic security, but the accusations against this outlet went beyond money laundering for reasons of profit, until it became the face of other suspicious operations that reach the limits of financing armed groups
The currency auction has become a front for the depletion of the dollar from Iraq and the opportunity to make profits from corrupt money in favor of influential political parties that have influence over local banks," says the expert on economics, Salam Sumaisem.
She added, "Currency window controls do not have the necessary degrees of transparency to monitor the country's actual need for import, and this raises major questions about the credibility of opening credits related to imports through the Ministry of Trade, and why the regulatory authorities do not track those processes", adding, "We do not know exactly what it is. The role of the money laundering department in the central bank in following up on these cases.
Sumaisem points out that one of the causes of the problem is that "banking leaders within the central bank and other considerations cannot be excluded."
The central denies the charges
The Director General of the Accounting Department in the Central Bank of Iraq, Ihssan Shamran, denied that the bank has a link in any suspicious operations or managing transfers outside the general framework of its laws, indicating that “according to the Central Bank Law, the sale of dollars is done through what is called a simple sale without imposing any complications. As long as the dinar is intact, "as he put it.
He added to "The Independent Arabia": "Commercial banks submit a request to buy dollars for their customers according to documents and import licenses submitted later, and based on the bank's controls to verify the integrity of the funds with no suspicions of money laundering or terrorist financing, the Central Bank receives the dinar from the bank and deposits the amount in dollars. In his favor with the exporter's private bank, adding that after a period the commercial bank submits a report to the bank on the import process.
And while he indicated that "suspicions related to non-entry of goods in exchange for money sold by the Central Bank are related to other departments," he pointed out that "the investigation function belongs to important institutions, including the customs authority, the Ministry of Trade that gives import licenses, and the General Tax Authority that has a tax office in the customs."
He pointed out that "the most important manipulation takes place at the border outlets, where some employees force the customer to reduce the recorded imported quantities," indicating that this process leads to "the corrupt obtaining four times what the state gets through customs duties," expressing his hope That "the Ports Authority shall monitor and control the violations and the processes of changing the identity of imported goods."
Responsibility of "sectoral entities"
Official and press reports circulated huge numbers regarding Iraq's import of goods that exceed the limits of its need, while official documents show that some of these imported materials have doubled up to a thousand times over what Iraq had imported in previous years, including the import of tomatoes from Iran in 2017, worth 1.66 billion dollars.
In the context, Shamran points out that "the bank is not specialized in assessing Iraq's need for the materials to be imported, which is the responsibility of the sectoral authorities and according to which the bank deals", indicating that "the authority that issues import licenses is the one that determines the country's need for the commodity to be imported, and the Central Bank has no responsibility for Determining the country's needs to link this with its sales, "explaining that" Iraq suffers from the absence of a national information system. "
He pointed out that Iraq used to link most of the imports with the subject of "estimating the need for imports," and in light of which an import license is issued from the Ministry of Trade, and based on the license, the Central transfers funds, but they stopped after 2003. "
And Shamran added, "Transfer operations in the central bank are very strict and under the supervision of the US Federal Reserve Bank, which has strict rules in tracking funds, as well as the Anti-Money Laundering Office. We have imposed on banks to activate reporting units for money laundering and terrorist financing operations," adding "stories Corruption can be believed if the central bank carries money on its side and gives it to merchants directly and not through this complex network. "
On the importance of the window for selling the dollar, Shamran explained that it "funds the needs of Iraq from the importer as well as financing the needs of the Ministry of Finance of Iraqi cash."
He concluded that "the accusations received against the bank by deputies and officials affect confidence in state institutions and waste their reputation, and this harms Iraq and removes foreign investment opportunities."
Authority without authority
As for the representative of the Finance Committee in the Iraqi Parliament, Ahmad Hama Rashid, he says that "the majority of the committee members agree that the currency auction is highly suspicious of corruption," indicating that what prevents action in this regard is that "the monetary authority is independent and has no authority over it."
He continues, "The prime minister's pledges to control outlets, dismantle the authority of some financial factions, activate industry and fight corruption, are directly related to the issue of currency auction," noting that "it has become a public opinion issue and a factor in shattering the economy."
He points out that "there is a blackout on this issue, and the central bank's response to questions about the currency auction does not go beyond the data limits, and the legislative authority is not efficient in this area."
He concludes that "there are no tools available to solve the auction problem except through the cooperation of the Central Bank, and Parliament or the Council of Ministers cannot solve it due to the independence of the monetary authority."
Currency auction and Chalabi "killed"
The opening of suspicions about the currency auction dates back to previous years, when the late head of the Iraqi Parliament’s Finance Committee, Ahmed Chalabi, presented files related to corruption in the currency auction in 2015, and as a result, the Supreme Judicial Council formed a judicial investigative body, and said a statement of the Council on November 10 (November) The second) of the same year, he decided to form a judicial investigative body to look into the documents submitted by Chalabi, explaining that "the documents are related to money laundering and foreign currency smuggling cases bought from the Iraqi Central Bank auction."
The statement stated that "the investigative body is made up of the judges of the Integrity and Economic Crime Investigation Court, and that the Public Prosecution will appear before the investigative body to express its requests and follow-up, and this decision will be implemented as of 11/10/2015."
The Iraqi Integrity Commission issued a statement on December 11, 2019, talking about the details of the penal cases related to the "currency auction" file, saying that "among these cases are major corruption cases in the work of a private bank and indicators of cases of smuggling foreign currency outside Iraq." By the bank buying foreign currency for the benefit of companies claiming to import goods, "noting that upon investigation and scrutiny, it was found that" those companies have not imported goods into Iraq since 2004. "
The department explained that "the cases included fraud by some governmental and private banks, entering the auction of selling currency in the names of companies and private account holders without their knowledge, submitting forged import invoices, as well as violating the Central Bank's instructions when entering the auction in accordance with the provisions of Article 3 of the Money Laundering Law." No. 93 of 2004. "
Iraqi politician Laith Shubbar said in a series of tweets on Twitter, "Yesterday, I received from the famous journalist, Robert Worth, the author of the article on Iraq under the rule of thieves, the complete file prepared by Ahmad Chalabi about the corruption of the sale of currency in the Central Bank, which ended with his death and the closure of the file permanently."
He added, "I spent two hours reading it and came to the complete conviction that the first head of corruption is this dangerous suspicious auction." He explained that "the file of corruption that I received from the currency auction that is held daily by the Central Bank is frightening and dangerous, and because of it, Chalabi was assassinated."
He pointed out that "there is no doubt that the file has existed for years in the Integrity Commission, and the names mentioned in this file are still arriving and wandering, and some of them even founded a party and became a deputy after spending millions. As for the heads, it happened and there is nothing wrong
The Ministry of Finance approves the opening of a government bank inside the Arar border crossing
A high-ranking source in the Anbar local government announced, on Tuesday, the approval of the Finance Ministry to open a government bank inside the Arar border crossing with Saudi Arabia, west of Anbar.
"The Ministry of Finance agreed to open a government bank inside the building of the Arar border crossing with Saudi Arabia, west of Anbar, as part of the measures taken to reopen the port during the next few days," the source said in a press interview.
The source, who preferred not to be named, added, "The local government in Anbar, in cooperation with the security forces, provided all requirements for security protection measures for the building, indicating that" the opening of the bank coincided with the arrival of a committee from the Border Ports Authority to ensure that the port was prepared and all procedures were completed. Remaining "
"The Ministry of Finance agreed to open a government bank inside the building of the Arar border crossing with Saudi Arabia, west of Anbar, as part of the measures taken to reopen the port during the next few days," the source said in a press interview.
The source, who preferred not to be named, added, "The local government in Anbar, in cooperation with the security forces, provided all requirements for security protection measures for the building, indicating that" the opening of the bank coincided with the arrival of a committee from the Border Ports Authority to ensure that the port was prepared and all procedures were completed. Remaining "
Al-Khaikani: Al-Kazemi's visit to Washington must be preceded by a session of Parliament
Political analyst Karim Al-Khaikani said that the visit of Prime Minister Mustafa Al-Kazemi to Washington on the 20th of this month must be preceded by a session of Parliament to determine the files that the Council voted on and related to the American exit from Iraq in order to place it among the priorities of the visit.
Al-Khaikani told "the information" that "Al-Kazemi's visit to Washington will not be fruitful if it does not include the US exit file and set a time limit for the withdrawal of forces and handing over the bases to the Iraqi forces ."
He added, "Parliament must hold a special session on Al-Kazemi's visit to confirm the implementation of the Council's decision on the removal of foreign forces from Iraq , so that the visit is clear in its content."
And that "the visit must specify the priorities and files and the parliament is aware and informed, and set all possibilities for what may happen or may be agreed upon between Al-Kazemi and the American side, and obliging Al-Kazemi to pass a vote by Parliament to remove the foreign forces
Rocket hits near US Embassy in Baghdad, no injuries reported
A Katyusha rocket landed near the US Embassy in the Green Zone of Baghdad on Tuesday night, according to Iraq's Security Media Cell.
The rocket seemed to have been launched from the Rasheed Airbase, according to the media cell and another rocket was prepared for launching at the base as well.
The rocket strike set off sirens at the US embassy. A spokesperson for the US military ran off screen after having to cut off a live television interview with Al-Taghier TV as the sirens were heard
CBI, ISX,Dinar Guru:
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.
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 $ 218,764,000 .
including $ 15,600,000 in cash
ISX Update:
including $ 15,600,000 in cash
ISX Update:
8-12-2020 Intel Guru Frank26 ...the details have been worked out a long time ago and that's why Kazimi is going to go to Washington D.C. on the 20th. Because the details, the demands, the benchmarks have all been met. What President Trump is doing right now is loud concerning Iraq...Donald Trump simply wants Iraq to be 100% ready to go and Iranian influence has to be removed ... this is really good because what we're seeing is exactly what we need in order for Kazimi to go to Washington DC and talk to Donald Trump...
8-11-2020 Intel/Newshound Guru sandyf Kap [Guru Kaperoni] is quite right in what he says regarding Iraq , never going to happen. However an adjustment to the exchange rate does not have to be the result of any action by the country. In 1967 GBP was devalued by 14% and as at that time Sterling was the predominant reserve currency nearly every country had to adjust rates, effectively a Global Currency Reset.
8-11-2020 Newshound Guru Pimpy There seems to be a lot of great strides towards Iraq earning their sovereignty, which is really super important. We are keeping an eye on that.
8-11-2020 Intel Guru Frank26 When I called [guru] Walkingstick and I told him about this he says keep your eye on it...we've been seeing this for a while now haven't we. Shoot for the last year and a half at least. For the last almost 2 months we've been seeing massive amounts of the dinar moving and I told you not at a program rate but at a different rate...I do not believe that this is something that is labeled as a coincidence, as an accident...I see this as a movement. I see this as the Iraqi dinar being positioned internationally. I believe you're gonna see an awful lot more of it... [Post 2 of 2]
8-11-2020 Intel Guru Frank26 ...Angel1...sends me this [from so-and-so converter site. -Image] IQD/USD - IQD 1 = $.0.8700 IQD = $.0.008. hmmm. [Frank says] 'Let me know if you see anymore'...five minutes later ring-a-ding-ding "Frank I just got another text." [Image from converter site text notification] "Sunday August 9 Currency Alert! IQD/USD 0.8700$ = 1 .0008$ = 1...this time it came through as a "ping" [Text Notification]...5 minutes later he did it again. What?!...it goes on and on...but my friend gets 11 pings from a specific clearinghouse...It's showing that the IQD is at .0008 but then on top you can see that the ping that came through was showing that 1 IQD is now equal to .87 American cents. And we saw it happen 11 times in a row. What does it mean? [Post 1 of 2....stay tuned]
8-11-2020 Newshound/Intel Guru Mnt Goat Article: "TRUMP'S ADVISOR NAMES TO SHAFAQ NEWS TEN FILES FOR DISCUSSION WITH AL-KAZEMI IN WASHINGTON" Quote: "He explained that he would meet US President Donald Trump on the twentieth of this month." We know that al-Kazemi had been invited to the Whitehouse in DC. He will speak directly with president Trump. This alone tells us he is a good guy and will be working for the restoration of Iraq in “its glory days” as has been said so many times is their goal. This includes the currency and we have been told many times it will also revalue to these glory days. Could the CBI begin the process...when he returns? Maybe if the meeting goes successfully. But at this point it is only speculation...
8-11-2020 Newshound Guru Pimpy ...August 20th [Al-Kazemi's planned visit to Washington] - that's a few days away. Let's just hope that we get enough accomplished between now and then where we can get these guys sovereignty once again, recognized internationally and the restrictions moved off of their currency...
8-11-2020 Intel Guru MarkZ [via PDK] Still quiet with gag orders in effect in the banking centers... I am hearing today is a possibility but no one will give me specifics. But people are on the edge of their seats. At the redemption center- I get “no comment” They have a skeleton crew and waiting for the call to be fully staffed. ...I’m getting a whole lot of quiet.
8-11-2020 Intel Guru Frank26 ...I said to you very clearly...I want you to look for this week is the word sovereign. Vice President Pence comes out and he says words in a rather interesting speech...it was exciting that you see Vice President Pence...talking about Iraq...And what did he say? 'Iraq is strong and sovereign.' Hello. So there's your word. Coincidence? No. But what was a coincidence though was a few hours later you got President Trump himself come out and he says, 'There's going to be cuts in both your income and your capital gains taxes.' ...so he says out of the blue, on the same day [as] the key word 'sovereign'...talk about timing. Alright maybe it's a coincidence. But golly this coincidence grabbed me!
8-11-2020 Newshound Guru Pimpy ...to be quite honest, man, I understand why the bank was making a pitch for a rate around $1.13 / $1.34 but man after talking to my friend and thinking this over I can understand why they might go ahead with the $3.22 rate. I'm NOT saying that's what the rate is. I'm just saying they don't have anything to lose. They have nothing there. They need to rebuild everything. They need purchasing power. So if we reinstate the rate at $3.22 that gives Iraq the purchasing power they need to import all the supplies and goodies they need to start rebuilding that country. Then later on if they want to go back and do an adjustment and lower it then by all means you could do so. But for now they have nothing whatsoever...
8-11-2020 Newshound Guru Pimpy There seems to be a lot of great strides towards Iraq earning their sovereignty, which is really super important. We are keeping an eye on that.
8-11-2020 Intel Guru Frank26 When I called [guru] Walkingstick and I told him about this he says keep your eye on it...we've been seeing this for a while now haven't we. Shoot for the last year and a half at least. For the last almost 2 months we've been seeing massive amounts of the dinar moving and I told you not at a program rate but at a different rate...I do not believe that this is something that is labeled as a coincidence, as an accident...I see this as a movement. I see this as the Iraqi dinar being positioned internationally. I believe you're gonna see an awful lot more of it... [Post 2 of 2]
8-11-2020 Intel Guru Frank26 ...Angel1...sends me this [from so-and-so converter site. -Image] IQD/USD - IQD 1 = $.0.8700 IQD = $.0.008. hmmm. [Frank says] 'Let me know if you see anymore'...five minutes later ring-a-ding-ding "Frank I just got another text." [Image from converter site text notification] "Sunday August 9 Currency Alert! IQD/USD 0.8700$ = 1 .0008$ = 1...this time it came through as a "ping" [Text Notification]...5 minutes later he did it again. What?!...it goes on and on...but my friend gets 11 pings from a specific clearinghouse...It's showing that the IQD is at .0008 but then on top you can see that the ping that came through was showing that 1 IQD is now equal to .87 American cents. And we saw it happen 11 times in a row. What does it mean? [Post 1 of 2....stay tuned]
8-11-2020 Newshound/Intel Guru Mnt Goat Article: "TRUMP'S ADVISOR NAMES TO SHAFAQ NEWS TEN FILES FOR DISCUSSION WITH AL-KAZEMI IN WASHINGTON" Quote: "He explained that he would meet US President Donald Trump on the twentieth of this month." We know that al-Kazemi had been invited to the Whitehouse in DC. He will speak directly with president Trump. This alone tells us he is a good guy and will be working for the restoration of Iraq in “its glory days” as has been said so many times is their goal. This includes the currency and we have been told many times it will also revalue to these glory days. Could the CBI begin the process...when he returns? Maybe if the meeting goes successfully. But at this point it is only speculation...
8-11-2020 Newshound Guru Pimpy ...August 20th [Al-Kazemi's planned visit to Washington] - that's a few days away. Let's just hope that we get enough accomplished between now and then where we can get these guys sovereignty once again, recognized internationally and the restrictions moved off of their currency...
8-11-2020 Intel Guru MarkZ [via PDK] Still quiet with gag orders in effect in the banking centers... I am hearing today is a possibility but no one will give me specifics. But people are on the edge of their seats. At the redemption center- I get “no comment” They have a skeleton crew and waiting for the call to be fully staffed. ...I’m getting a whole lot of quiet.
8-11-2020 Intel Guru Frank26 ...I said to you very clearly...I want you to look for this week is the word sovereign. Vice President Pence comes out and he says words in a rather interesting speech...it was exciting that you see Vice President Pence...talking about Iraq...And what did he say? 'Iraq is strong and sovereign.' Hello. So there's your word. Coincidence? No. But what was a coincidence though was a few hours later you got President Trump himself come out and he says, 'There's going to be cuts in both your income and your capital gains taxes.' ...so he says out of the blue, on the same day [as] the key word 'sovereign'...talk about timing. Alright maybe it's a coincidence. But golly this coincidence grabbed me!
8-11-2020 Newshound Guru Pimpy ...to be quite honest, man, I understand why the bank was making a pitch for a rate around $1.13 / $1.34 but man after talking to my friend and thinking this over I can understand why they might go ahead with the $3.22 rate. I'm NOT saying that's what the rate is. I'm just saying they don't have anything to lose. They have nothing there. They need to rebuild everything. They need purchasing power. So if we reinstate the rate at $3.22 that gives Iraq the purchasing power they need to import all the supplies and goodies they need to start rebuilding that country. Then later on if they want to go back and do an adjustment and lower it then by all means you could do so. But for now they have nothing whatsoever...
Catnip's Corner:
*************
ARTICLE 1 (from PM Kadhimi's website; posted only on Arabic side, not on English side)
The Council of Ministers holds its regular session under the chairmanship of the Prime Minister, Mr. Mustafa Al-Kazemi
The Council of Ministers held its regular session, today, Tuesday, August 11, 2020, under the chairmanship of the Prime Minister, Mr. Mustafa Al-Kazemi, and the Council discussed the paragraphs listed on its agenda and took special decisions regarding them.
The Cabinet began its session by discussing the developments of the Corona pandemic, its latest developments, government efforts to confront the increase in injuries, and the Ministry of Health’s plans in the areas of prevention and control of health and awareness.
In addition to the ministerial curriculum of the government of Mr. Mustafa Al-Kazemi, approved by the House of Representatives on May 7, 2020, the Council of Ministers decided to initiate the implementation of the second phase of the curriculum, which is related to the victims of the peaceful protest movement for the month of October 2019, and after the complete count of accurate statistics of the names of the martyrs of the daughters and sons of our people and the forces The Security Council, and considering them all martyrs of the homeland, the Council of Ministers approved the following:
1- Inclusion of the martyrs and wounded who were killed in the demonstrations in October of last year and what followed, by the Martyrs Institution Law No. 2 of 2009, and they have the rights and privileges ensuing in accordance with this law.
2- Instructing the Ministry of Health to form medical committees of various specializations to monitor the health status of the wounded. And provide the necessary treatment for them each according to his province.
3- Refer the injured who cannot be treated inside Iraq to the relevant committee in the Ministry of Health and facilitate their treatment outside Iraq.
4- The inclusion of victims of the peaceful demonstrations of October 2019 with health insurance, and the compensation law No. 20 of 2009 as amended.
5- Include a draft amendment to the Persons with Disabilities and Special Needs Law No. 39 of 2013, to include the handicapped and injured victims of the peaceful protest movement in October 2019, and those who became physically incapable of work, as a result of a handicap or physical disadvantage they suffered as a result of those events.
The Minister of Electricity gave a presentation to the Council on the reality of the system for the production and distribution of electric energy, which included a summary of the efforts made in this aspect to secure the electric energy and the maintenance of the stations.
The Council of Ministers approved a number of decisions in this regard, in a way that serves the Ministry's work and the priority of providing services to citizens,
The Council also discussed the rest of the topics on its agenda and approved the following:
1- The Ministry of Education completes contracting procedures with government printers, some discreet private printing houses known for their high capabilities, media network printers, and holy shrines presses, provided that financial allocations are available in accordance with Article (13) of the Federal Financial Administration Law No. 6 of 2019.
2- Maintaining the contract form with the companies importing the machinery, machinery and equipment installed in the accompanying minutes linking the memorandum of the legal department in the office of the prime minister, number: DQ / 1741, dated December 16, 2019, according to the mechanism of sale by the disposal based on the basis Marketing their materials.
3- Adoption of Minutes No. (12) and the recommendations of the Diwani Order (45 of 2018) accompanying the linking of the Ministry of Planning’s book, number: WS / 1. / 2/492, dated 7/27/2020, relating to hospital projects.
In part of its session, the council discussed the requirements of Dhi Qar governorate, and ways to meet the service demands of its people, and issued a number of decisions regarding this:
1- Allocating an amount of 50 billion dinars to Dhi Qar Governorate and disbursed according to the controls, including (10 billion dinars), and paid by the Public Company for Communications and Informatics, a company of the Ministry of Communications, provided that it is calculated as a repayment of the previous debts of the company owed by it in favor of the Ministry of Finance for previous years.
2- Approval of the Ministerial Council for Energy Recommendation No. 11 of 2020 regarding the extension of the Ministerial Council’s Resolution for Energy, and the Recommendation No. 35 of 2020 regarding the exemption of the Dhi Qar Oil Company from the instructions for implementing the federal budget, and the instructions for implementing government contracts No. 2 of 2014 regarding the amounts Disbursed from the social benefits of petroleum licensing contracts, to support health institutions in Dhi Qar Governorate, to exclusively confront the Coronavirus pandemic.
3- Approval of equipping government departments with deferred gear material from the Ministry of Oil in implementing projects for Dhi Qar Governorate.
4- Instruct the Ministry of Construction and Housing to complete the maintenance work of the Dhi Qar Bridge Concrete in accordance with Article 13 / Second of the amended Federal Financial Management Law.
5- The General Directorate of Sewage / Ministry of Construction and Housing transferred a surplus amount of 20 billion dinars from the operating budget to the investment budget.
6- The Ministry of Oil is responsible for equipping the municipal departments in Dhi Qar governorate with all requirements for street cladding and rehabilitation through payment on credit.
7- Approval of signing the contract for the Nasiriyah International Airport project by the President of the Civil Aviation Authority, in coordination with the General Secretariat of the Council of Ministers.
Media Office of the Prime Minister
11-Aug-2020
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ARTICLE 2 (from Government of Iraq twitter account)
8-11-2020 around 2:45 pm Eastern
PM Spokesperson: At today’s Cabinet meeting, PM @MAKadhimi directed that work begins immediately to prepare Iraq’s electricity grid for next summer.
PM Spokesperson: The Cabinet decided to authorize the Iraqi Civil Aviation Authority to sign a contract for the construction of Al-Nasiriyah International Airport in Dhi Qar Province.
PM Spokesperson: The Cabinet hosted today the Governor of Dhi Qar who outlined the challenges facing the province. PM @MAKadhimi directed relevant ministers to collaborate and agree a mechanism to provide 50 billion dinars to the province
PM Spokesperson: The Cabinet decided that the draft disability and special needs law will include those who sustained injuries during the protests that impact their ability to work.
PM Spokesperson: The Cabinet directed the Ministry of Health to form medical teams to monitor the condition of those who were wounded during the protests, ensure that they are receiving the necessary medical treatment, and arrange for them to be treated abroad if required.
PM Spokesperson: The Cabinet decided that the martyrs who fell during the protests and those who sustained injuries will be covered by the provisions of the Law of the Martyrs Foundation so that their families can be compensated.
PM @MAKadhimi’s Spokesperson @AhmadMullaTalal holds his weekly press conference in Baghdad to brief the media on today’s Cabinet decisions, and domestic developments.
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ARTICLE 3
Parliamentary Security reveals the file that will take the largest space in Al-Kazemi's visit to Washington
11/8/2020 19:31 •
[Baghdad-Where]
Member of the Parliamentary Security and Defense Committee, Representative Kata Al-Rikabi, confirmed, on Tuesday, that the file of the future of the American presence in Iraq will take the largest place in Al-Kazemi's visit to Washington.
Al-Rikabi said, "Iraq conducted the first phase of its dialogue with America via the closed television channel weeks ago, which focused on the strategic framework agreement that was signed in 2008, but the emergence of developments in the public scene, especially the decision of the House of Representatives, Iraq to remove foreign forces, including the US, which prompted the latter to request Dialogue with the Iraqi government in Washington ”.
He added, "The removal of US forces from Iraq will take a greater space than the rest of the files in the visit of Prime Minister Mustafa Al-Kazemi," noting that "there is no way before the government except to implement what was stated in the decision of the House of Representatives."
The prime minister plans to visit Washington, DC, and meet its leaders to discuss a number of important matters and files.
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ARTICLE 4
Political movement: the renewal of the failed telephone companies reveals the existence of trade deals in favor of corrupt figures
11/8/2020 14:12 •
[Baghdad-Where]
The Al-Sadiqoun Movement, Mahmoud Al-Rubaie, confirmed, on Tuesday, that the renewal of the failed mobile phone companies reveals the existence of trade deals in favor of corrupt personalities.
A spokesman for the movement’s political bureau, Mahmoud al-Rubaie, said, via Twitter, that “the government's failure to seek to issue a fourth license linked to the Iraqi state and whose shares and returns are to the people makes suspicion and suspicion in such dealings.”
He added, "This suspicious insistence reveals the existence of corruption deals and trading in Iraqi money for the benefit of corrupt figures who think only about their personal benefits.
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ARTICLE 5
The deadline for the government to present its reform paper is nearing completion ... and the Finance Committee is presenting new ones
11/8/2020 14:51 •
[Baghdad_Where]
The Parliamentary Finance Committee clarified that the government's deadline to present its reform paper that it promised ends on the 24th of this month, and therefore it is bound by this date, and despite the absence of any indications from the government in this regard, the Parliament has prepared a reform paper to be added to the paper The government to help it advance the country's economy.
The reporter of the Finance Committee, Ahmed Al-Saffar, confirmed that "the government is supposed to present its reform paper to parliament, and that an extraordinary session will be held within the next two weeks."
Al-Saffar said, "The Finance Committee is working on a reform paper, and it is assumed that there will be a meeting with the government to unify the two papers and come up with a reform paper that promotes the economy, maximizes revenues and guides expenditures to get rid of loans, as the state can properly control its resources."
He added, "The borrowing law authorized the government to borrow amounts sufficient for three months as salaries for employees, and with the rise in oil prices, the state's imports are supposed to increase, and therefore it is assumed that the government has funds to pay salaries," stressing that "there is no external borrowing, and the borrowing law that Parliament voted on it reluctantly. "
He continued: "The Finance Committee's decision is clear, which is that the government does not grant any type of borrowing, whether internal or external, if the budget is not presented, and in return, the government promised that there would be reforms, and it was granted a period of 60 days, and until now there is no answer from it." ".
In turn, a member of the Finance Committee, Jamal Cougar, confirmed that "the 24th of this month is the last date for the government to submit its reform paper," noting that "the period that has been approved is nearing the end, and it must be sent on time."
Couger said, "The borrowing law authorized the government to set a financial ceiling of 15 trillion dinars and 5 billion dollars, and imposed on it to send the 2021 budget, and the sums approved in the borrowing law were by agreement of both the government and parliament, and it is not entitled to request other additional sums." That the Parliament has a reform paper, but the government has not yet sent any reform paper to merge them.
He added, "The government is obligated to present its paper on time, although Parliament is still in its legislative recess, but it is not a requirement that there be a session of Parliament on August 24, this may be at the end of this month or at the beginning of next month," noting that the situation of Corona It casts a shadow over the parliament sessions, and this does not prevent there being sessions, but it will not be in the usual way, as there may be solutions such as social distancing or dividing them in groups
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