WOTS WED DEC 29 21
Al-Sadr tweeted five words
These are the articles I discussed on the My FX Buddies Podcast above
The oldest speaker of the House of Representatives reveals the details of the first session of Parliament
link so typical hahaha but I do remember them letting the oldest member do certain things
Today, Wednesday, the oldest parliament speaker, Mahmoud al-Mashhadani, revealed .the details of the first session of parliament Al-Mashhadani said in an exclusive statement to (Baghdad Today) that "the date for holding the first session will be on the tenth of next month or less, a day or two before that, as it will be devoted to choosing between the first session, in which the ".speaker and his two deputies will be chosen
He added, "If the political blocs do not agree on the president and his two deputies, I will keep it open for other days until the time for its resumption comes after the ".political blocs agree on the speaker and his two deputies Al-Mashhadani explained that "the coalition of resolve wants to obtain the position of president, and the coalition is seeking for it, and this is an entitlement, and therefore work will be done on that, but so far we have not agreed on a specific figure to present it to the rest of the political blocs.
Therefore, the matter is under negotiation, ".and no name has been determined so far
The dollar and import.. Planning determines the causes of inflation in Iraq
The Iraqi Ministry of Planning attributed, on Wednesday, the causes of inflation in Iraq to two main reasons: import and the high exchange rate of the dollar against the local currency.
The official spokesman for the ministry, Abdul-Zahra Al-Hindawi, said in an interview with Shafaq News Agency that "the reasons for the high inflation in Iraq are due to external and internal reasons."
And he indicated that "all countries of the world are experiencing problems in the shortage of some materials and scarcity in others, and thus led to a rise in their prices globally, such as construction and food materials, and the interruption of supply chains between countries of the world, which led to the rise in inflation indicators worldwide, whether in Russia or America and even in The countries of the region are currently facing the same problem because their economies are linked to global markets, whether they are foodstuffs or others.
Al-Hindawi added that "indicators of inflation in Iraq as an economic system are part of the global economic system, especially since many materials, whether construction or consumer ones, are imported, and as a result, they witnessed an increase in prices at their general rates, especially imported foodstuffs."
He pointed out that "the other reasons that led to the rise in inflation in Iraq are the large consumer demand for materials and the presence of a large monetary bloc moving within the Iraqi market, in addition to the rise in the value of the dollar and the depreciation of the dinar, which basically contributed to the high rates of inflation."
For his part, the economic expert, Dergham Muhammad Ali, confirmed to Shafak News Agency that "the increase in the annual inflation volume for the past month came based on the consumer exchange rate, which is affected by the high prices of foodstuffs whose prices are high globally."
He added that "the other reasons are the cumulative effects resulting from the delay in approving the budget and forming the government, which creates a state of anticipation in the market that results in an economic stagnation that causes a rise in the consumer exchange rate."
The Central Bureau of Statistics had announced the increase in annual inflation in Iraq for the month of November to 8.4% compared to the same month last year.
End Of The Coordination Framework Meeting With Al-Sadr In Najaf
Maliki was not there
An informed source said, on Wednesday, the end of the meeting that took place between the leader of the Sadrist movement, Muqtada al-Sadr, and the delegation of the coordination framework.
The source told the "Information" agency that "the meeting of the leader of the Sadrist movement, Muqtada al-Sadr, with the head of the Fatah Alliance Hadi al-Amiri and the head of the Popular Mobilization Authority, Faleh al-Fayyad, has ended, and the delegation left al-Sadr's house in al-Hanana in Najaf governorate without holding a press conference."
The delegation of the coordination framework included Hadi Al-Amiri, Qais Al-Khazali, Faleh Al-Fayyad and a number of members of the coordination framework.
The Rule Of Law Comments On Maliki's Failure To Attend The Hanana Meeting
The winning deputy for the State of Law coalition, Alia Nassif, considered, on Wednesday, that what some are circulating about not inviting the head of the coalition, Nuri al-Maliki, to the meeting of al-Hanana, is a deliberate attempt aimed at targeting the unity of the coordinating framework, stressing that the invitation was directed to the framework with all its addresses and is not limited to the personalities who will meet the leader of the Sadrist movement. Mr. Muqtada al-Sadr today.
Nassif said in a statement to "The Information", that "unfortunately, there are still voices trying to shuffle the cards in order to distort the image of the coordination framework and spread division within the Shiite house and to indicate the existence of a deep disagreement between Mr. Sadr and al-Maliki," noting that "the invitation of the leader of the framework was not directed to specific leaders in the Rather, the invitation was sent to all the leaders of the coordination framework.”
She added that "the coordinating framework forces have de\\\\veloped mechanisms regarding the division of tasks by conducting dialogues with other political forces, as the head of the State of Law coalition was assigned to conduct dialogues and understandings with the Kurdish forces, al-Amiri and al-Khazali with the Sadrist movement, as well as a number of framework leaders were named for understanding with the Sunni forces."
Nassif indicated that "the meeting of Al-Hanana today is very important to reach a common Shiite vision and to discuss issues of the highest interest of the country, not the factional or partisan interest, and speeding up the formation of the government."
After his meeting with the leaders of the framework, Al-Sadr tweeted five words
The leader of the Sadrist movement, Muqtada al-Sadr, confirmed, on Wednesday, his quest to form a “national majority” government, after his bloc led the recent parliamentary elections.
This came in a tweet by Al-Sadr after his meeting with the leaders of the coordination framework in “Al-Hanana”, his residence in Najaf.
Al-Sadr was satisfied with a brief tweet to confirm his adherence to his position, saying, “A national majority government, neither Eastern nor Western.
Al-Sadr met with the delegation of the coordination framework headed by the leader of the “Al-Fateh” coalition, Hadi Al-Amiri, and included a group of prominent leaders in the framework that includes the majority of the prominent Shiite forces.
This meeting came two days after the Federal Supreme Court approved the election results and rejected the lawsuit brought by Al-Amiri to cancel the results.
The Sadrist bloc topped the elections with 73 seats out of 329, followed by the Progress Alliance with 37 seats, the State of Law coalition with 33 seats, and the Kurdistan Democratic Party with 31 seats.
The Sadrist bloc seeks to form a majority government in alliance with the Sunni and Kurdish forces that won the elections, contrary to what was customary in previous sessions that witnessed the birth of consensual governments with the participation of all political forces.
But other Shiite forces within the coordination framework are working to find a foothold in the next government to preserve their gains despite losing many seats in the parliamentary elections that took place last October.
Finance Signs A Contract With An Irish Company To Review Budget Preparation Requirements
I don't recall them doing this before hmmmm
The Ministry Of Finance Signed, On Wednesday, A Contract With The Irish Consulting Company (AARC) To Provide Advisory Services Regarding The Preparation Of Functional And Technical Requirements And IFMIS Tender Documents, With An Implementation Period Of 17 Months, As Part Of The Public Financial Management Systems Modernization Project, Which Is One Of The Ongoing Projects Included In The Investment Budget For 2021. Funded By The World Bank.
According To A Statement By The Ministry, According To This Contract, The Functional And Technical Requirements For The Stages Of Preparing And Implementing The Budget And Reporting Forms Will Be Reviewed In Accordance With International Standards And The Preparation Of International Competitive Bid Documents For The Tender For The Implementation Of The (IFMIS) Project.
It Should Be Noted That The Project Is Included In The Governance And Implementation Plan Of The Reform Program (White Paper ) In Sequence (61) The Public Financial Management System Launched By The Government.
He Continued, That The Ministry Of Finance Is Working In Accordance With The Plans And Timetables Approved By The Supreme Reform Committee In Order To Enable The Government To Carry Out Institutional Reforms And Support The Necessary Policies To Facilitate The Successful Implementation Of The IFMIS System.
Al-Kazemi announces the end of the combat missions of the international coalition: Our forces are ready
link
On Wednesday, Prime Minister Mustafa Al-Kazemi announced the end of the role of the coalition forces, noting that their role had become limited to advice and support.
Al-Kazemi said in a post on Twitter: "The international coalition's combat has ended, and the exit of all its forces and combat equipment outside Iraq has been completed, and the coalition's role has become limited to advice and support, according to the outcomes of the strategic dialogue."
He added, "We thank the countries and leadership of the international coalition, our neighbors and partners in the war against ISIS, and we affirm the readiness of our forces to defend our people."
On Tuesday, the Iraqi Security Media Cell said that the combat missions of the international coalition forces had ended in the country.
The cell published a map of the end of missions with an explanation of the deployment missions since 2014, until the day of withdrawal.
No government without al-Maliki!".. The coordination framework" carried a message to al-Sadr that included two main things - urgent
Today, Wednesday, an informed source revealed the most prominent messages carried by the coordination framework of the leader of the Sadrist movement, .Muqtada al-Sadr The source told (Baghdad Today) that "the most prominent messages carried by the coordination framework of the leader of the Sadrist movement
Muqtada al-Sadr is that there is no renewal for the three presidencies, and there is no government ".without al-Maliki
Today, Monday, the Federal Supreme Court of Iraq announced the ratification of the .results of the legislative elections, which took place on the tenth of last October And the judiciary's media said in a brief statement, "The Federal Supreme Court approved the results of the House of Representatives elections," during a deliberative .session regarding the results of the general elections
The court had earlier rejected an appeal to annul the results of the legislative elections. It also rejected an appeal against the quota mechanism as well, and rejected the plaintiff's request to stop the procedures for ratifying the election .results
Below here is the WOTS "Word on the Street" report for the day:
Publishes the dollar exchange rate on the local stock exchange on Wednesday, (December 29, 2021), according to the monitoring of specialists.
Baghdad - the stock exchange
147,750
....
The price in most Baghdad exchanges
Purchase
147,250
sale
148,250
———————————-
Basra - Bursa
147,900
————————————
Najaf - Bursa
147,850
———————————-
Mosul - Bursa
147,850
———————————-
Erbil - Bursa
147,900
———————————-
Sulaymaniyah. Market
147,900
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1437.2000 |  1490.3000 | 1457.7000 | 1457.6000 | 1457.7000 | -0.6000 | 12:19 |
| USD/VND | 22820.0000 | 22825.0000 | 22840.9600 | 22831.7500 | 22840.9600 | -10.0600 | 03:49 |
| USD/CNY |  6.3680 | 6.3700 | 6.3714 | 6.3670 | 6.3670 | 0.0003 | 04:58 |
| USD/KWD | 0.3022 | 0.3032 | 0.3023 | 0.3023 | 0.3023 | -0.0001 | 04:57 |
| GBP/USD | 1.3422 | 1.3423 | 1.3437 | 1.3408 | 1.3420 | 0.0003 | 05:10 |
| USD/IRR | 42025.0000 | 42525.0000 | 42232.1000 | 42203.5000 | 42232.1000 | -26.2000 | 00:00 |
| USD/IDR | 14253.0000 | 14253.0000 | 14272.0000 | 14226.0000 | 14226.0000 | 28.0000 | 05:06 |
Wealthy want to own less of everything bubble...
Basic Income Programs Go Mainstream...
The Peanut Butter Secret: Lavish Tax Dodge for Ultrawealthy...
International finance attracts national investment
The Central Bank in the face of crises and stimulating the economy in 2021
At the beginning of the year 2020, our economy entered a new phase of complex crises, suffering and complex conditions due to the Corona pandemic and the economic recession and slowdown in growth in the global economy, a drop in oil prices and a drop in demand levels for it due to the complete and partial closure and its effects on what our economy already suffers from from many known problems. For professionals and economic elites.
Therefore, I found, on the occasion of the end of 2021, to show the role of the effective economic institutions in 2021 to revitalize and stimulate the economy and overcome the failures, challenges and foggy pages in managing the economy, such as the loss of methodology, the lack of clarity of policies and programs, and the inconsistency of strategies prepared in partnership with international organizations and Iraqi experts and consultants, which numbered about 17 strategies with the reality of The single-source Iraqi economy, which depends mainly on oil rents, has caused a structural defect in the economy that has caused economic instability over the past eighteen years.
Added to this is the mismanagement and distribution of public money and the failure to give an effective role to the private sector and to involve it in economic decision-making. The failure to provide a stable business environment, the war on terrorism, and political tensions led to a lack of visions to build a solid national economy capable of drawing the prerequisites for the transition to a market economy.
Despite all these challenges, there were bright spots, promising experiences, policies and procedures, and success experiences carried out by some economic institutions during the years 2020 and 2021.
One of the most prominent bright points in this process is the experience of the Central Bank of Iraq in supporting the national economy while maintaining its independence, functions and objectives specified in Law 56 of 2004, and its contribution to supporting the national economy and the state treasury with an amount of up to 30 trillion dinars by re-discounting treasury bonds issued by the Finance in 2020 and allocating sums of 15 trillion dinars as stimulus and rescue initiatives for the economy for the years (2015-2021) and achieving economic resilience in the hope that the economic ministries, on their part, will activate the productive sectors in agriculture, industry, tourism and renewable energy, which the Central Bank has contributed to launching an initiative to support it recently.
In addition to its executive and developmental procedures and policies and building balanced relations with Arab and regional banks, where the Central Bank was able to implement its strategy for the years (2016-2020), in the year 2020 and launched its second strategy for the years (2021-2023) and what was achieved this year confirms the bank’s efforts to implement its five main objectives And the results achieved on the scope of the applications of monetary policy internally and the persuasion of international financial institutions and organizations, and this is confirmed by the official reports issued by them, which confirm the success of the Central Bank’s policy in achieving an important transition for the economy.
And that the Central Bank played a great role and with a clear and prominent professional effort, relying on its team, its national economic and financial cadres, its experts and its board of directors to re-establish coordination bridges between the financial and monetary policies and to propose new economic and structural policies to classify banks according to international standards that enabled some banks to obtain an international classification, which strengthened From the reputation of our banking sector internationally and to restore confidence in it.
The management of the Central Bank has demonstrated its clear ability to interact, analyze obstacles to work and create conditions to overcome challenges
and draw a road map that will inevitably lead to achieving its goals contained in its law and achieving stability in the monetary system.
* Advisor to the Association of Iraqi Private Banks
CBI Update: Just a note:
including $23,410,000. CASH
The Central Bank of Iraq’s foreign currency sales schedule Thursday 12/30/2021 and implemented today
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
12-28-2021 Intel Guru Frank26 I said when you pay off Kuwait that equals the float...you have seen many articles that are telling that they want to return them back to the 'glory days'. The 'Glory Days' is the REER. The glory day that they are returning their currency back to is the REER. Therefor that's why the education is now teaching them that their currency is not fixed. It's about to float because it has to reach the Real Effective Exchange Rate for their country...IMO the next thing that they're going to show them is the new small category notes in a sheet form and then after that float the currency...
12-28-2021 Newshound Guru Kaperoni Iraq's federal court ratified the election results today. There was no basis of any fraud. So now hopefully they can move forward and form a new government soon.
12-28-2021 Intel Guru MarkZ [via PDK] I hate to say it but I think they are pushing it to next week now. Maybe Sunday or Monday? ...But I am hearing “any moment” still...We just do not know...On the banking side/Redemption Center side I am still hearing from a conversation this morning that they should fully expect to work this weekend...Would be a perfect time to pull the trigger when nobody is expecting it though. They could absolutely pull the trigger before the end of the year and let us start making appointments before the end of the year. ...It does appear that it is underway…don’t rule this week out just yet. It would be a golden time.
12-28-2021 Newshound Guru Breitling Question: "I've been seeing articles about the Central Bank of Iraq meeting with other central banks in other countries like Saudi Arabia and Britain . They're setting up central bank branches in the countries and vice versa. Is that significant...?" It is. It's specifically so other countries can use their currency. Very specific. Their currency [dinar] is going to go out there...they have to have people trying to use the Iraqi dinar which helps their supply times velocity. That's why it's so exciting...It is the formula. So we're here.
12-28-2021 Intel Guru Frank26 Article: "Legal: The Government Can Remove Iraq From Chapter VI After Paying Kuwait Compensation" They've already paid off Kuwait...they already paid off everybody...the last banana peel of Chapter VII is Chapter VI...this article talks about what they already did with the United Nations and why they're about to go and float their currency...
12-28-2021 Newshound/Intel Guru Mnt Goat ...here is...very good news! The Central Bank of Iraq announced recently that last Tuesday, the payment of the last installment of $44 million was paid to Kuwait early. This will lead the way to the dismissal out of Chapter VI and VII. The UN the Security Council still has to formally vote on it and it is scheduled for an early February 2022 meeting. Iraq has already submitted the paperwork for the request to the UN. Could they convene earlier and fool us? How does this effect the RV? I am not certain if they can still go ahead with the project to delete the zeros with anticipation of being released from these sanctions. There is no legal parameter preventing it from the CBI, however we know this is the first step in the process to reinstate and so once started they can’t turn back. [post 2 of 2]
12-28-2021 Newshound/Intel Guru Mnt Goat ...I fully believe this...the revaluation of the currency...has been tied to the ongoing sanctions from the UN and then the US Treasury... the remaining obstacle to the last step in the currency reform process is the exit from Chapter VI and VII of the Charter of the United Nations...now it is time to take the next step. It has been a hard 18 years (almost 2 more decades) for Iraq, 3 decades altogether since the Kuwaiti invasion. But Iraq is now about to make a giant leap forward and it has in its sights to remake the late 1920’s kind of an economy with abundance and prosperity that was indicative of that period. Yes, they want these “glory” days once again. They even told us so... [post 1 of 2....stay tuned]
12-28-2021 Newshound Guru Adam Montana Article quote: "...the Central Bank of Iraq announced on December 22, 2021 the completion of the last remaining installment of Kuwait’s compensation amounting to (44) million US dollars, and thus Iraq had completed the payment of the full compensation amounts approved by the United Nations Compensation Committee of the UN Security Council..." I’m sure everyone here already understands how big this is… what an incredible milestone!
12-28-2021 Intel Guru Frank26 Article: "For the sake of the banking system..Kuwait: Iraq handed over the last batch of compensation before it was due" Kuwait had to be paid off..compensated with economic reform and return their dead... Quote: "re-integrate the Iraq banking system with the global banking system." Bingo! What they did is they combined the Iraqi banks with the banks around the world... I told you [Guru] Walkingstick's friend came to do this to his private bank in the United States...because of the fact that the Iraqi banks are now internationally recognized the Iraqi currency is about to float...
12-28-2021 Intel Guru MarkZ [via PDK] [You had said you expect a dinar rate of about $4.81...is this street rate or contract rate?] In country it may start lower and float up to about $4.81…I am still hearing we may expect a higher contract rate than that. Maybe even a couple of dollars higher then that per dinar.
12-28-2021 Newshound Guru MilitiaMan Article: "The International Coalition : We no longer have combat forces in Iraq" Add this to the equation… No combat forces, done early. Kuwait paid in full, early. Digital platforms noted by the CBI, early. Thus, the next move is expected and that is move to a market economy. That will require an international exchange rate...imo...
