WOTS MON MAR 1 21
These are the articles I discussed on the My FX Buddies podcast at: https://anchor.fm/dashboard/episode/erc8f9
they still fight with sling shots
https://www.youtube.com/watch?v=SH3vgFBsysk&t=14s&ab_channel=AlmasalahMA new date for the 2021 budget vote in Parliament
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The head of the Parliamentary Economic and Investment Committee, Representative Ahmed Salim Al-Kinani, revealed that it is hoped to vote on the general budget for the current year 2021, at the end of this week, after completing the amendments and proposals on its paragraphs .
Al-Kinani said in a statement, "The current year 2021 budget is nearing completion after the Finance Committee completed amending some paragraphs and proposals, and they were sent to the government side and reviewed ."
The head of the Parliamentary Economic and Investment Committee confirmed that "it is hoped that the parliament will vote on the budget at the end of this week
The Iraqis should wait ... "frustrating" statements about the budget
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A member of the Parliamentary Integrity Committee, Alia Nassif, announced today, Saturday, that there is no intention to pass the 2021 budget next week.
Nassif stated in a press statement that “Parliament will resume its parliamentary sessions next Monday, and it was scheduled to vote on the budget on Tuesday or Thursday, but the article or agreement related to the region has not been presented to the representatives yet, which means that the issue is not resolved with a delegation Kurdistan ”.
She added, "The problems between the center and the region are still going on, especially after the statement of the former president of the region, Massoud Barzani, who said that transferring all the oil produced to the center is a constitutional violation," noting that "it is difficult for the budget to pass this week in light of the atmosphere that rejects agreements." Leaders of political blocs, which are installed at the expense of the Iraqi citizen and social justice between the provinces.
An economic recovery surrounding Iraq in two areas ... two areas that will boost money and GDP
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The economic advisor to the prime minister, Mazhar Muhammad Salih, revealed that there are two important factors that put Iraq on the brink of economic recovery.
Saleh said in a press statement, "Iraq is on the edges of economic recovery at present in two areas. The first is that there is a tangible agricultural boom that will achieve growth in the non-oil GDP in the year 2021 by more than 4 percent, which is approximately one and a half times higher than the population growth." .
He added, "The second scope is the boom in the energy demand sector in the world. Oil prices have gradually recovered, which is a positive sign and strengthens the country's overall financial capacity."
He stressed "the importance of dealing with this matter with great caution, by laying a basis for sustainable development and reducing economic shocks."
He indicated that “the international community supporting Iraq through the International Financial Alliance team, which was established months ago, expressed its desire to support the established principles for the sustainability of growth in the national economy, as expressed in the white paper recently approved by the Council of Ministers by establishing a blueprint and institutional entity for economic reform, which is the linchpin of this sustainability. Developmental.
Demonstrations diaries ... shopkeepers renew their protests to demand compensation near the twostory bridge
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revision The death toll from the Nassiriya protests increased to the injury of 41 protesters and a security personnel
MOnday MArch 1, 2021
Shop owners renew their protests to demand compensation near the double-decker bridge Renewed demonstrations in Basra to demand accountability for those involved in the killing of demonstrators
News of the burning of part of the headquarters of the provincial council of Diwaniyah by the demonstrators Riot control is chasing demonstrators in Tahrir Square in Baghdad to Andalus Square Dozens of demonstrators go to Tahrir Square in Baghdad Clashes between protesters and guards of the Diwaniyah Provincial Council building
Sunday February 28, 2021 .
Nasiriyah demonstrators withdraw from Nasr Bridge after "friendly" negotiations with the army Maysan demonstrators call on the people to a demonstration demanding the dismissal of the governor
The demonstrators of Nasiriyah and Najaf suspend the demonstrations in the coming days to implement their demands Nasiriyah protesters give the government 72 hours to implement their demands
Protests are renewed in Nasiriyah and the victory bridge is closed.
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The Parliamentary Finance Committee announced, on Monday, that it has completed all the articles of the Federal Budget Law for the fiscal year 2021.
The Media Department of Parliament stated, in a statement received by Mawazine News, a copy of it, that “The Finance Committee is headed by Representative Haitham Al-Jubouri, Chairman of the Committee, and the presence Members, it held a meeting in which it discussed a number of topics on its agenda.
The statement added, "The committee concluded, during its meeting, which was held at its headquarters, its discussions regarding the third amendment to the Law of the Accountants and Auditors Syndicate and raising it to a vote, in order to keep pace with the development in the professions of accounting and internal auditing, and for its importance in preserving public funds and being an element of fighting corruption, and to organize work Those who are practicing the profession, and organizing the election process for members of the union’s board of directors and members of the control and monitoring committees. "
The Finance Committee stated, according to the statement, "its position regarding the draft federal budget bill for 2021," stressing that it "has completed all the articles of the law and has delivered a letter to the Presidency of the Council of Representatives since 2/15/2021 for the purpose of setting a date for voting on it
Washington consensus ... and the white Iraqi paper
I'm not sure if this is an opinion piece or not, it seems like it is but it's a good read
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It is time for Iraqis to learn from measures that have registered success in countries in economic crisis.
Washington Consensus: Markets drive more growth than the state
The Iraqi "white paper" is fully consistent with the provisions of the Washington consensus
Reducing the value of the dinar is the first of the government's harsh steps against large segments of Iraqis
n 1989, economist John Williamson developed an economic draft of ten articles, which he presented as a treatment description for failed states that suffer major financial and economic problems in the Latin continent (failed states or fragile states is a political term referring to weak and ineffective governments that were unable to control the performance of Its successful or failed service and administrative duties to monopolize the authority of legitimate violence) during which it called the International Monetary Fund and the World Bank to adopt this bylaw, and the recommendations presented at the time were as follows:
- Policy of fiscal discipline and consideration of expenses
- Redirecting public spending from indiscriminate subsidies to investment in infrastructure
- Tax reform in the sense of moderately broadening the tax base
- Giving markets the freedom to set prices so that they are higher than the rate of inflation
- Liberalizing the trade sector with a focus on the principle of eliminating quantitative restrictions, such as licensing and concessions
- Liberalization of foreign investment flows
- Privatization of state institutions
- Liberate and abolish regulations and laws that hinder market entry or restrict competition
- The currency exchange rate is appropriate and reflects economic strength
- Observe the laws and rights of land ownership
In the 1990s, this list took a broad political turn, after it was approved by the World Bank, International Monetary Fund and the US Treasury Department based in Washington, DC, until these policies were overshadowed by the term Washington Consensus, referring to those institutions that adopt these policies that Support the politics of international globalization.
And between a critic and objector to these policies, which were considered by some to be an interventionist policy directed in favor of certain liberal countries in manipulating the competitive advantages of those countries for political purposes, as these reform policies were applied in Latin countries and applied again in the second world countries, i.e. the socialist countries after their separation from the Union The Soviet Union, then added to the list ten other items called at the time - Post-Washington Consensus, the amended Washington consensus - during which the developing countries' economic conditions and the size of the responsibilities restricted to their economies were taken into account and constrained by the dependence of many social strata and classes on their central economies.
The principle of the regulation and its provisions in general - as economists see it - is based on the concept that markets lead to achieving growth more than the state itself, and to reduce the role of the state in managing the economy.
White paper
In August 2020, the Iraqi government presented the economic reform report, which it called the "white paper", which included a set of recommendations, strategies and policies that it believes are capable of reforming the economic and financial system in Iraq, and through which the Iraqi government believes, as stated in the preamble of the paper, that it is inevitable. Other than implementing these reforms, there is no room for postponing those decisions and policies and continuing to depend on Iraq on recovering oil prices and its export quantities to finance its increasing expenditures.
With the study of the five frameworks and axes of the white paper and allowing ourselves to rearrange them in accordance with the terms of the ten Washington Consensus paper, we find that most of the themes and topics dealt with in the Iraqi White Paper came fully compatible with the terms of the Washington Consensus. Although its impact was not clearly observed in the last proposed budget for 2021, the privatization of public sectors is another goal that the Al-Kazemi government seeks to implement, while the move to change the exchange rate of the dollar and reduce the value of the dinar was the first steps that the government implemented, the severity of which was reflected on large segments of the people. Iraqi.
Feasibility and effectiveness of these steps
We can at least agree with most liberals and believers in the free economy who believe in the principle of limiting state intervention in the economy, with the importance of implementing these paragraphs, but it is possible that the objections about the implementation and implementation mechanism are logical, acceptable and justified, especially with the nature of the fragile and complex situations of those countries whose environments were not Legal, economic and political are qualified to undertake comprehensive reforms of this magnitude, which could harm the interests and entry of many segments of their societies who are unable to defend their interests or even understand their rights and duties.
As for returning to the countries and institutions that sponsor these articles, which are considered advanced industrial capitalist countries such as the United States and Britain as an example, whose economic thinkers, their major economic institutions and their research centers have adopted these reform items! We find that it took a contradictory behavior with the call of developing countries and socialist countries to adopt these difficult decisions in a time of financial and economic crises that they experienced in the years 2008 and 2020, as the United States and even the European Union countries and Britain abandoned measures to lift state support, and turned towards interventionist policies in the market, And increase spending and economic stimulus, and support the affected companies with grants and loans without interest or negative interest, and the adoption of spending policies, and a large increase in spending to take care of the vulnerable classes and large payments for unemployment!
Those international financial institutions and those who support them from among the major countries are trying to impose policies that pressure peoples' governments to implement harsh economic provisions and steps in difficult periods as is happening in Iraq today, contrary to the nature of the behavior of their decisions and economic policies in times of crisis, which calls for us to stop a little and reconsider adopting such The procedures in our countries and the return to hearing the opponents of those policies and procedures or to re-evaluate and discuss the objective reasons for the success or failure of such measures and economic policies on the reality of developing countries or countries that are in a state of economic transition from centralization to a market economy.
The WOTS report is below here:
The dollar fell on the main stock exchange in The Iraqi capital, Baghdad, on Monday (March 1, 2021).
According to a reporter for The Shafq News Agency, the Central Struggle Stock Exchange in Baghdad recorded today, 145,200 Iraqi dinars against 100 U.S. dollars, and al-Harithia exchange recorded 145,250 Iraqi dinars for $100.
The Central Struggle Stock Exchange opened at 145,350 Iraqi dinars on Thursday morning.
Our correspondent pointed out that the selling prices of buying and selling stabilized in the banking shops in the local markets in Baghdad where the selling price reached 145,750 Iraqi dinars, while the purchase price was 144,750 dinars per 100 U.S. dollars.
In Erbil, the capital of Kurdistan province, the dollar prices were slightly higher than Sunday's price, with the selling price of 145,100 dinars per 100 dollars, and the purchase at 144,800 dinars per 100 U.S. dollars.
The Markets:
Asian markets closed up NIK by 2.41% HSI up by 1.63% SHANG up by 1.21%
The Uk markets are currently trading in the gren from .94% to 1.50%
Our futures are currently trading in the the DOW at 31197 up by .92% SNP at 3847.5 up by 1.00% NDX at 13084.5 up by 1.34%
Precious metals:
Gold is green at 1745 silver is green at 26.93 Copper is green at 414 Aluminum is green at 2155 Platinum is green at 1221
Brent 65 WTi 62
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|
| USD/IQD |  1436.4000 |  1486.1000 | 1455.3000 | 1455.3000 | 1455.3000 | -1.4000 | 01:10 |
| USD/VND | 23020.0000 | 23040.0000 | 23003.6300 | 22990.9700 | 22990.9700 | 15.2000 | 01:30 |
| USD/CNY | 6.4615 | 6.4635 | 6.4746 | 6.4593 | 6.4746 | -0.0128 | 05:11 |
| USD/KWD | 0.3023 | 0.3033 | 0.3026 | 0.3024 | 0.3026 | -0.0002 | 04:55 |
| GBP/USD |  1.3973 | 1.3974 | 1.3998 | 1.3924 | 1.3928 | 0.0052 | 05:18 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 0.0000 | 00:00 |
| USD/IDR | 14284.0000 | 14288.0000 | 14308.0000 | 14081.0000 | 14289.0000 | -41.0000 | 05:17 |
Things in the News:
Iraqi Articles:
Oil hits new high and Brent crude above $65 per barrel
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Oil prices rose towards a dollar on Monday, driven by optimism in the global economy thanks to progress in a massive U.S. stimulus package and hopes for improved oil demand.
Brent crude futures were up 92 cents, or 1.43 percent, to $65.43 a barrel by 0454 GMT.
West Texas Intermediate futures jumped 90 cents, or 1.46 percent, to $62.41 a barrel.
This comes after the U.S. House of Representatives approved a $1.9 trillion Coronavirus relief package early Saturday and sent it to the Senate, where Democrats planned a legislative maneuver to allow it to pass without Republican support.
In Japan, a special survey showed factory activity expanded at the fastest pace in more than two years in February, adding signs of recovery in Asian growth.
On the other hand, investors are betting that the meeting of the Organization of Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, will lead to more supply returning to the market.
Representative Economy: To vote on the budget at the end of this week
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The head of the Parliamentary Economic and Investment Committee, Ahmed Salim Al-Kinani, revealed, on Monday, that there is an intention to pass the budget at the end of this week after completing the amendments and proposals on its paragraphs.
Al-Kinani said in a press interview, "The current year 2021 budget is nearing completion after the Finance Committee completed amending some paragraphs and proposals, and they were sent to the government side and reviewed."
The head of the Parliamentary Economic and Investment Committee confirmed that "it is hoped that parliament will vote on the budget at the end of this week.
Advisor to the Prime Minister: The government may not need to borrow for this reason
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The advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Monday, that the difference in the price of a barrel of oil in the budget goes to fill the deficit, and the government may not need to borrow, indicating that developing a supplementary budget remains according to the government's need.
In an interview followed by Al-Eqtisad News, Saleh said that the budget was based on a deficit, meaning that the expenditures are more, and there can be borrowing, but the difference in the price of a barrel of oil today closes the deficit, so there is no need for borrowing, meaning that the surplus replaces borrowings.
He added that this difference in the price of a barrel of oil closes the budget deficit, and the government may not need to borrow, noting that this does not mean that there is no final borrowing, but the difference is compensated, and there may be a surplus, and this depends on the stability of oil prices.
And on the existence of a complementary budget between Saleh, that finding a supplementary budget is not necessary, but remains according to the government's need and the extent of the strength of the revenues, and whether there are important projects that are deferred that need a supplementary budget
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.
Click on the link above for the latest update.
The CBI for rate is 1460
The currency auction For February 26, 2021 total sales amount $ 139,530,235.
ISX Update:
www.isx-iq.net/
Shares Traded: not updated for today
Value Traded: not updated for today
https://www.dinarguru.com/3-1-2021 Newshound Guru Jeff Iraq is completely on par with Kuwait. Iraq and Kuwait's fiscal year (I know this for a fact because I've already consulted with the Iraq government) is April through March of the following year. That's why Kuwait changed at the end of April [March?] to accommodate the March fiscal year...If you want to know when Iraq's doing their rate change, they're doing it on the exact same historical Sunday when Kuwait did theirs...Iraq is following in Kuwait's footsteps.
2-28-2021 Newshound Guru MilitiaMan Article: "Zafer Al-Ani: Parliament Will Continue Its Sessions Until The Budget Is Approved" Quote: "the budget has reached its final stages, leaving nothing but the announcement of the agreement with the Kurdistan region regarding the percentage determined for it in the budget and other matters that will be completed within the next few days." Well well well. They are continuing the session tomorrow. The 1st of March. They'll be at it until budget law is approved, so they say. Leaving nothing but an announcement. Well they'll need to announce a rate with that now wouldn't they? ...A new exchange rate can fix many ailments.. imo...
2-28-2021 Newshound Guru Pimpy The problem with us dealing with the dinar is this. In order for the dinar to have any kind of purchasing power or to get any real change on the exchange rate there has to be some stability there. Already all around we're starting to see crap happen. Iran, Syria bombings, missile attacks within Iraq...Biden hasn't even been in office two months and already the shit's falling apart...I don't like the way it looks although there's some good things happening over there in Iraq. The financial grade [B rating] is good. The reserves are building that's good...so there are some good things. I'm just pissed about the way this current administration is too much into bombing crap...You gotta take the good news, bad news, the ugly news. You gotta take it all. Stay grounded.
2-28-2021 Newshound Guru Jeff Question: "How will the Iraqi people prosper from or benefit from the rate change?" ...it gives the Iraqi citizens and the Government of Iraq purchasing power...there's only one way for Iraqi citizens to get rich. They have to keep and exchange the 3 zero notes after the rate change...
2-28-2021 Newshound Guru Adam Montana ...I'm still in daily communications with all of my dinar contacts. I still get my usual briefings from the important people on dinar... The last time I touched on the price of OIL was quite a while ago - I was optimistic even though oil prices were only at $40ish. Where are they today? $61! Which happens to be above where we need them to be for a launch of the RV...
2-28-2021 Newshound Guru Pimpy Article: "The Central Bank Announces A rise In Cash Reserves To More Than 55 Billion Dollars" That's good we want the reserves to be up higher. The higher it goes...it's really good for the currency...It's because one of the thing that gives its strength is the fact that there's a lot of reserves. This is very very good...
2-28-2021 Newshound Guru Jeff Tweet from the Iraqi government: "Setting a new exchange rate for the Iraqi dinar against the U.S. dollar is part of the economic reform program adopted by the @IraqiGovt, which aims to address the immediate financial crisis and placing the Iraqi economy on a sustainable path." Since roughly Monday of this past week is when they starting putting a huge emphasis on the exchange rate as we approach the implementation of the budget and their new fiscal year of April 1st...
2-28-2021 Newshound/Intel Guru Mnt Goat Article: "TO THE EXECUTIVE BRANCH TO THE CENTRAL BANK OF IRAQ PROPOSING THE NEED TO AMEND THE EXCHANGE RATE OF THE IRAQI DINAR TOWARDS THE US DOLLAR" Of course there are many objections to the 1450 devalued rate of the dinar. They people don’t understand fully the reasons behind it. This article is pushing for just what we want... Article quote: "A new EXCHANGE RATE IS REQUIRED FOR THE IRAQI DINAR TOWARDS THE US DOLLAR, WHICH IS ONE DINAR EQUALS ONE US DOLLAR...and work in the future to return a new exchange rate. EACH DINAR EQUALS $3, AS IT WAS PREVIOUSLY." ...With oil expecting to climb way over $100 a barrel Iraq will be swimming in wealth and its an excellent time to do this...
Catnips Corner:
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ARTICLE 1 (from PM Kadhimi's website; posted only on Arabic side, not on English side)
Prime Minister, Commander in Chief of the Armed Forces, Mr. Mustafa Al-Kazemi presiding over the meeting of the Ministerial Council for National Security
Today, Sunday, the Prime Minister and Commander in Chief of the Armed Forces, Mr. Mustafa Al-Kazemi, chaired the Ministerial Council for National Security meeting.
The meeting discussed the overall security situation and developments at various national levels.
Where the meeting examined the situation in Dhi Qar Governorate and followed the latest efforts by the Prime Minister to achieve the demands of peaceful demonstrators, and to extend security and stability, leading to the creation of the appropriate political and social atmosphere for the success of the elections and in a way that ensures that the results are the true expression of the opinion of the Iraqis.
The meeting also discussed the conduct of operations of our armed forces of various kinds, as part of the operations targeting the burrows of terrorism and pursuing its remnants. The meeting presented a summary of the results of these operations and the successful strikes that our forces directed against terrorist gangs and their additions.
The meeting discussed a number of issues on its agenda and took the necessary decisions regarding them.
Media Office of the Prime Minister
February 28, 2021
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ARTICLE 2 (from Government of Iraq twitter account)
2-28-2021 around 8 am Eastern
2-28-2021 around 10 am Eastern
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ARTICLE 3
Parliamentary signals to settle Kurdistan's share in the budget and determine the date for its passage
2021-02-28 14:32
Shafaq News / The Al-Fateh Parliamentary Bloc confirmed, on Sunday, the vote on the General Budget Law for 2021, at the end of this week, while indicating that the Kurdistan Region’s share will be decided during the next two days.
Al-Fateh deputy, Fadel Al-Fatlawi, said in an interview with Shafaq News, that "meetings and negotiations are still continuing between the political blocs and the Kurdish delegation to settle the share of the Kurdistan Region in the General Budget Law for 2021."
Al-Fatlawi added, "There are intensive meetings that will take place next Tuesday to resolve the Kurdistan Region’s share in the budget law."
He pointed out that "the vote on the budget for the current year in the House of Representatives, will be at the end of the week, specifically next Thursday."
Last December, Baghdad and Erbil reached an agreement on the financial budget, providing for the region to deliver 250,000 barrels of oil per day, and half of the revenues from border crossings and others to the federal government, in exchange for a share in the budget of 12.6%.
The agreement was included in the draft budget, but Shiite political blocs in Parliament rejected the agreement, which impedes its passage in Parliament until now.
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ARTICLE 4
Corona, the Vatican ambassador in Baghdad was infected with the virus .. What is its impact on the visit?
2/28/2021 15:02 •
[Follow-up-where]
Official sources revealed, on Sunday, that the Vatican ambassador in Baghdad, Monsignor Metia Lescovar, had contracted the Coronavirus without “having an effect” on the visit of Pope Francis, scheduled for Friday.
The announcement coincided with the ongoing preparations to receive Pope Francis on the first papal visit in history to Iraq, which has lived through wars, conflicts and sectarian violence during the past forty years.
An Italian diplomatic source and an Iraqi official told AFP that Mgr. Lescovar had contracted the Corona virus.
A senior Iraqi official confirmed that the results of the tests were "positive, but this will not affect the papal visit," scheduled for Friday.
Mgr. Lescovar had visited a number of provinces during the past few days as part of preparations for this historic visit.
Pope Francis received the vaccine against this virus before his visit to Iraq, as is the case for dozens of journalists and officials accompanying him during his visit to Iraq.
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ARTICLE 5
Messenger: 9 ISIS arrested in security operations in four governorates
2/28/2021 14:56
[Baghdad-Where]
The spokesman for the Commander-in-Chief of the Armed Forces, Major General Yahya Rasool, announced on Sunday the arrest of 9 ISIS in security operations carried out in four governorates.
Rasul said, in a statement, that "under the direction of the Commander-in-Chief of the Armed Forces, and during the qualitative and professional operations carried out by the heroes in the Counter-Terrorism Service, which included various regions, the apparatus formations, and with field follow-up and intensification of intelligence efforts, were able to arrest one of the remnants of ISIS gangs in Basra Governorate." And who participated in several terrorist operations against our security forces. "
He added, "In Kirkuk, the Counter-Terrorism Service was able to achieve the set goals after arresting three terrorists hiding in civilian residential neighborhoods."
He stated, "In Anbar Governorate, where two wanted members of the terrorist ISIS gangs were arrested."
Rasul said: "Let the heroes of the Counter-Terrorism Service conclude their series of operations that were carried out at dawn on Sunday by arresting three terrorists in Kanaus, south of Mosul, bringing the number of ISIS remnants who were arrested by the Counter-Terrorism Service to 9."
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