WOTS MON NOV 9 2020
As for the exchange rates in the local markets, they were:
Sales price: 125,500 dinars per $ 100.
Purchase price: 124,500 dinars per $ 100.
The exchange rates in Basra Governorate were recorded at 125,000 dinars per 100 dollars.
While the exchange rates in Erbil governorate recorded 125,150 dinars per 100 dollars.
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1168.9000 |  1219.5000 | 1192.2000 | 1191.5000 | 1191.6000 | -0.4000 | 10:50 |
| USD/VND | 23170.0000 | 23190.0000 | 23159.3600 | 23151.1200 | 23151.1200 | 10.0100 | 21:45 |
| USD/CNY |  6.6092 | 6.6112 | 6.6109 | 6.6092 | 6.6104 | -0.0012 | 05:08 |
| USD/KWD | 0.3051 | 0.3061 | 0.3052 | 0.3051 | 0.3052 | -0.0001 | 05:08 |
| GBP/USD | 1.3152 | 1.3153 | 1.3198 | 1.3124 | 1.3165 | 0.0003 | 05:08 |
| USD/IRR | 42000.0000 | 42210.0000 | 43011.9000 | 43011.9000 | 43011.9000 | -43.1000 | 04:44 |
| USD/IDR | 14070.0000 | 14102.0000 | 14210.0000 | 14070.0000 | 14198.0000 | -130.0000 | 05:07 |
Will the government pay my October and November salaries together, at the beginning of next week?
The Parliamentary Finance Committee expected, on Sunday 08/11/2020, to reduce the amount of borrowing in the draft law on financing the fiscal deficit to 15 trillion and vote on it at the end of this week, while it indicated the possibility that the government would pay the salaries of employees for the months of October The first and November immediately after the law was passed
Committee reporter Ahmed Al-Saffar said in an interview that “the deficit financing law, which is expected to be passed at the end of this week after its second reading, is expected to be limited to the amount included in it to secure the necessary needs, such as salaries of employees and retirees, social care, medicines, ration cards, and farmers’ dues in addition to To some payable debts, "indicating that the amount expected to be voted is between 10 to 15 trillion."
He added, "The amount that Parliament will vote on in the bill to finance the fiscal deficit amounts to between 10 to 15 trillion to cover the monthly deficit of 3 trillion and a half trillion for three months."
He pointed out, "The possibility that the government will pay the salaries of employees for the months of last October and November this year, immediately after the vote on the bill, that is, early next week
Parliament sets a date for approving deficit financing, contrary to what the government wants
The House of Representatives placed the federal government in an embarrassing position in front of employees who were not prevented by promises and assurances from starting to protest against the authorities ’inability to pay their salaries.
Although the Council of Ministers submitted the draft deficit financing bill to Parliament in the middle of last month, the latter has not yet approved it, but rather postponed its approval until next Wednesday or Thursday, as confirmed by the Parliamentary Finance Committee.
During the past twenty days, the House of Representatives entered into negotiations with the government to reduce the value of the required borrowing, and succeeded in making the amount 31 trillion dinars, instead of the 41 trillion dinars, which was fixed in the bill.
The government of Mustafa Al-Kazemi sent a draft deficit financing bill to the House of Representatives, demanding to borrow 41 trillion dinars to pay the salaries of employees and retirees and social care, before retreating and asking Parliament to reduce this amount to 31 trillion dinars.
But this is not enough in the eyes of the parliamentary blocs, which want to reduce the amount of borrowing to about 15 trillion dinars or a little more.
The Ministry of Finance needs about seven trillion dinars per month to pay the salaries of 6.5 million employees, as well as retirees' dues and social care, and to secure government expenditures such as paying domestic and foreign loans and other operating expenses.
Usually, the Ministry of Finance starts paying salary dues from the fifteenth of each month and continues until the end of the month, but due to the lack of cash flow, the government delayed paying the salary dues for the month of September to about fifty days and the situation was repeated last October.
On passing the deficit financing law, Ahmed Al-Saffar, the rapporteur of the Finance Committee in the House of Representatives, comments, saying: There are unimpeded matters mentioned in the draft deficit financing law, which will be postponed and transferred to the 2021 budget law, stressing that his committee will reduce the loan amount by focusing on the necessary issues such as salaries Employees, retirees, welfare, and other essential expenses such as buying medicine and others.
Al-Saffar asserts that "the amount that Parliament will decide in the draft deficit financing bill will finance the salaries of employees and retirees, social care and drug support only, until the end of the current year," explaining that the salaries support for the year will be through "the approval of the federal budget bill for 2021."
And he continues, "The Minister of Finance has pledged to send the budget bill for the next year to the House of Representatives during the current month of November in which all the issues removed from the Deficit Financing Law will be included," and he is expected to vote on the law in the session of Wednesday or Thursday of this week.
The current financial crisis has prompted Mustafa Al-Kazemi's government, which inherited a treasury empty from the advance of resigned Adel Abdul Mahdi and containing less than $ 300 million, to present two laws to Parliament to finance the deficit, one of which was approved.
For his part, another member of the Finance Committee confirms that Parliament "will pass the borrowing law this week," holding the Al-Kazemi government legal responsibility for delaying the payment of employee salaries for more than fifty days.
On more than one occasion, Minister of Finance Ali Allawi pledged the payment of employee salaries dues with the approval of the House of Representatives to approve the deficit financing law, noting that "the financial crisis that the country is going through is not emerging today, and the current government faced the crisis without financial liquidity."
A member of the Parliamentary Committee, Ahmad Mazhar al-Jubouri and a representative from Diyala governorate, in a statement seen by Al-Mada, states that there is "a parliamentary consensus to reduce the amount of borrowing to about 15 trillion dinars," indicating that "Parliament with a law that guarantees the payment of employees' salaries for the coming months."
For her part, Nada Shaker Jawdat, a member of the Economic Committee in the House of Representatives, explains that "the parliament completed the second reading of the deficit financing law in the first session yesterday, Saturday, after the members of the parliament expressed their comments on the origin of the law," considering that the size of the loan was large and for operational, not investment, purposes.
Jawdat adds that the Finance Committee has begun studying and reviewing all the observations of members of the House of Representatives to include them in the finance law before it is presented to the vote this week in order to launch the salaries of employees.
Parliamentary law: Al-Kazemi will borrow sums that the Iraqi state has not borrowed since its inception
The Parliamentary Legal Committee revealed, on Monday, the size of the Iraqi debt, indicating that Al-Kazemi will borrow 40 trillion dinars, which is an amount that the Iraqi state has not borrowed since its establishment.
"The Al-Kazemi government is trying to borrow 41 trillion dinars for a period of 100 days, while the volume of debts since the establishment of Iraq has reached 54 billion dollars," said Hussein Al-Oqabi, a member of the committee .
Al-Uqabi added, "The government has not provided any convincing answer regarding the size of the loans it will borrow and the actual need for them, especially with the size of the financial crisis in the country."
He explained that "the loans do not include the establishment of factories or investment interests for Iraq, and everyone should hold the government accountable and know what is going on behind the scenes and not leave the government to bargain over the salaries of employees."
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 $ 177,800,000.
including $ 16,700,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
11-8-2020 Newshound/Intel Guru RVAlready [ I think it is more likely that if there was agreement on Article 140 there would be an RV. The problem is that you can't verify anything.] Yes. On Oct 10, 2020, the US embassy congratulated Iraq on implementing Article 140.
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