WOTS TUES MAR 9 21
These are the articles I discussed on the podcast at https://anchor.fm/dashboard/episode/es5rjf
“FINANCIAL BATTLE” NEXT MONDAY … BAGHDAD AND ERBIL: HOLD ON AND EXCLUDED
Despite the House of Representatives setting the date for voting on the 2021 budget bill, “political pressure” is still the most prominent player in passing the law or not, especially after the Federal Court law turned into a “pressure paper” by some political parties, but on the other hand. The State of Law Coalition finds it difficult to pass “suspicious deals” and that the budget will pass by the majority of “number” and not “consensuses”.
The disagreements over the draft budget and the Kurdistan region’s share in it in return for not paying what it owed to the federal government are not a result of the moment, and go back to years ago, but they were evident at the end of last year during the parliament’s vote on the law on financing the fiscal deficit, which was passed without the Kurds voting on it, and about the possibility of returning This experience in the current draft budget, the deputy of the Kurdistan Islamic Union Jamal Cougar says that “it is difficult to pass the budget in next Monday’s session without political consensus with the Kurdish blocs.”
He adds to the “National News Center” that “there are political parties that have linked the vote on the budget law and the law of the Federal Court,” asserting that “those parties hinted that the Federal Court law would not be passed in the event that the budget was passed in Monday’s session.
On the latest agreements between Baghdad and Erbil, Cougar explains that “we do not have a problem with the government text in the budget law, but the Shiite blocs rejected that text,” adding, “It recently reached a new legal text requiring the receipt of oil imports for 460 thousand barrels.”
For many years, the governments of Baghdad and Erbil have not reached any agreement regarding oil and non-oil revenues, and the central government often demands the regional government to hand over the revenues to the state treasury, but without this being achieved.
Many of the region’s delegations arrived in the capital, Baghdad, with the aim of discussing the agreements between the two parties, and the meetings usually take days, the last of which was the delegation that arrived in Baghdad in late January, and stayed in Baghdad for more than 20 days, with the aim of reaching solutions that satisfy all parties regarding the budget. .
In addition, the MP from the State of Law coalition indicated that Alia Nassif said in an interview with the “National News Center” that “the heads of political blocs are embarrassed for not agreeing with the region regarding passing the budget.”
She added that “it is difficult to pass any suspicious political agreements,” asserting that “we have collected 150 signatures within Parliament to include the Budget Law in the next Monday’s session.”
She pointed out that “passing the budget in Monday’s session will be by a numerical majority and not by political consensus, in case it passes,” explaining that “the representatives who signed the request did not find equitable distribution of financial and economic resources among the governorates of Iraq in a way that guarantees everyone’s rights.”
Yesterday, the Speaker of the House of Representatives directed that the budget bill be included in next Monday’s session, based on a request submitted by Representative Youssef Al-Kalabi signed by 150 deputies.
The leader of the State of Law coalition, Nuri al-Maliki, said on the current March 6, regarding the 2021 budget bill, that the issue is a rights issue, and the government does not have the right to seize a right for the region or the provinces.
And the budget – to my knowledge – still contains many forms related to the region regarding the amount of oil that must be delivered, and the amount of money that should be given in addition to the previous debts and the debts owed, and I do not think that it will pass, and MPs have informed me of their refusal to pass the budget unless the number of barrels are proven. The region must hand it over.
Confusion was raised about the budget and the Kurdistan region’s share in it, against the background of the arrival of the draft budget law to the House of Representatives from the Council of Ministers,
And it was represented that the budget of the region exceeds the budgets of the governorates of the south combined, according to statements by some representatives, as well as the lack of commitment of the region to pay Baghdad’s oil dues and revenues from the border crossings, which constituted an objection in front of consensus to pass them.
Parliamentary Finance expects the dispute between Baghdad and Erbil to be resolved on this date
A member of the Parliamentary Finance Committee, Sherwan Mirza, expected, on Monday, to resolve the dispute that is still pending between the federal government and the Kurdistan region regarding Article 11 in the draft budget law for 2021, ahead of the convening .of the parliament session next Monday
In an interview with (Baghdad Today), Sherwan Mirza said, "The dispute over the articles and paragraphs of Article 11 in the 2021 budget bill concerning the Kurdistan region’s share is still going on with Baghdad, and we hope that it will be resolved before the .session set for next Monday, to present 2021 Budget Bill
Mirza added, "Things are complicated so far and there is no breakthrough for the problem, but we hope that the two sides will reach an ".agreement before the session is held," stressing that "the parliament will proceed to pass the budget bill in its current form
A member of the Finance Committee in Parliament stated that "the political blocs at the present time are trying to reach an agreement with the Kurdish political forces in order to pass the bill without boycotting the Kurds or any other problem that may occur and hinder ".the voting session
On Monday, the Speaker of Parliament, Muhammad al-Halbousi, instructed to include the voting clause on the 2021 draft budget on the .parliament's agenda in next week's session
A brief statement stated that "the Speaker of Parliament directed the inclusion of the budget bill next Monday, based on a request ".submitted by Representative Youssef Al-Kalabi and signed by 150 deputies
The deputy of the Patriotic Union of Kurdistan, Hassan Ali, had confirmed (Saturday, March 6, 2021) that no change had occurred in the negotiations between Baghdad and Erbil regarding the budget, due to the failure of the political blocs, particularly the Shiite ones, .to respond to the region's recent demands and their insistence on delivering oil. Entire to Baghdad
Ali said in an interview with (Baghdad Today): “We expect in the end, despite all the obstacles, that the budget will be voted on and that the region’s share be fixed, unlike what happened in the borrowing law, because the political mood has differed greatly, and there
Al-Karawi: 90 percent of the budget files are settled, and the problem with "Kurdistan" is still present
MP Abd al-Khaliq al-Azzawi confirmed, on Tuesday, that 90% of the budget files have been settled, while indicating that the problem with Kurdistan still exists.
Al-Azzawi said in an interview with "the information", that "next Monday, two important draft laws will be presented. The first concerns the completion of the vote on the Federal Court Law as it is the most important framework in the course of the upcoming elections, and the second is the budget that represents the most important laws in the country, especially since the Finance Committee handed over the budget." To preside over the council for more than 20 days after completing the mechanisms of scrutiny and discussions.
Al-Azzawi added, "90% of the budget files are settled, but the problem with the Kurdistan region on the issues of oil and its export and border crossings still exists, pointing out that political consensus is a very important framework in resolving complications, and we hope that discussions in the coming days will reach a framework that leads to consensus in resolving." Budget file ”.
The budget law is one of the most important laws that define the state’s path in the financial framework and formulate government spending policy in all ministries.
U.S. Stimulus Set to Turbocharge World Economy as Europe Lags
An economist calls for a speedy end to the disputes and preparation for the international turnout
On Tuesday, a researcher in economic affairs, Yahya Al-Haddad, called on the political forces to resolve differences, end conflicts over gains, and move towards urgent elections in preparation for the international turnout on Iraq .
Al-Haddad said, in a statement to the information agency, that “the Pope’s visit to the holy city of Najaf in particular is a recognition of the great role that the reference plays in the security and political axis,” indicating that “it is a victory for the humanitarian role of the Shiite authority in Iraq in particular and the Arab world over Public face ”.
He noted that " Iraq, after this historic visit of Pope Francis, needs to be fully prepared and open new horizons of political orientations as it is on a new date of international interaction with Iraq in all files, especially the economic file."
He explained, "The political forces must settle their accounts and put the interest of Iraq above all considerations, because the next stage will witness a boom for investments in Iraq, and this process needs political security before considering any step, which depends on the size of the responsibility that the leaders of Iraq bear at this stage."
And he stated, “It is necessary to end all of the early elections and to speed up their conduct because they are a dangerous weapon that threatens every investment process in Iraq ,” explaining that “the large investments of countries in Iraq do not look at public interests as much as they are concerned with the security of the region in which they operate and the extent of the decision’s ability. Politician to tame that security.
He pointed out that " Iraq is fertile land, and the visit of the Pope, as the biggest leader of the Christian community, stimulated international business companies and began to talk in the media about large investments that will be presented to the new Iraqi government."
After listing the budget on next Monday's session ... a member of Parliament's finance clarifies the possibility of passing it
A member of the Finance Committee in the Iraqi Parliament, Muhammad al-Shabaki, commented today, Tuesday (March 09, 2021), that political disputes over the 2021 budget bill could be resolved, before the date of voting on it, .next Monday
Al-Shabaki said in an interview with (Baghdad Today), "The Presidency of the Council of Representatives gave this time (the week) in order for the political forces to reach final solutions on the draft budget law for the year 2021, as . ".well as Baghdad and Erbil reaching a decisive agreement so that it is included in the budget
And he indicated, "This time is sufficient to resolve differences over the draft budget law in 2021, especially since this time will witness intensive meetings between the political parties, with the aim of reaching solutions, as there is a parliamentary intention to pass the budget in a session next Monday, and everyone agrees on this matter," Including " .the Kurdish forces
On Monday, the Speaker of Parliament, Muhammad al-Halbousi, instructed to include the voting clause on the 2021 . draft budget on the parliament's agenda in next week's session A brief statement stated that "the Speaker of Parliament directed the inclusion of the budget bill next Monday, based ".on a request submitted by Representative Youssef Al-Kalabi and signed by 150 deputies
Al-Kazemi puts the building blocks of a sovereign wealth fund to ensure the future of generations after the completion of Kuwait's compensation
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed, on Tuesday 2 March 2021, positive proposals for the establishment of a sovereign wealth fund in which funds equivalent to their deductions are deposited for the current compensation for the Kuwait war, in line with the reform white paper, indicating in another aspect that the price difference A barrel of oil in the budget goes to fill the deficit, and the government does not need to borrow, indicating that the development of a supplementary budget remains according to the government's need
Salih told Al-Masalla: We have positive ideas and proposals for the establishment of an Iraqi sovereign wealth fund, in which amounts equivalent to the compensation of the Kuwait war are deposited after the payment of these compensation is completed in the coming months, and it is managed along the lines of the generational funds, which is considered a sovereign investment resource for Iraq, and in line with The white paper launched by the .government to strengthen and reform the structure of the Iraqi economy
Saleh indicated that only an amount of less than $ 2.5 billion of the $ 52 billion out of $ 52 billion remains of the Kuwait war compensation until the moment, as 3% of the proceeds of every barrel of Iraqi crude oil exported is still being deducted, through a mechanism and a bank account that is .handled by the Reserve Bank. Federal Council in New York, according to subsequent Security Council Resolution 1483 in May 2003
He pointed out that the deductions are currently paid through the United Nations Compensation Fund {UNCC}, expecting that all the remaining .compensation will end within a year or a little more, depending on the evolution of oil prices and the returns of a barrel of Iraqi oil exported
It is noteworthy that the United Nations Compensation Committee was formed in 1991, the same year in which the US-led coalition removed Iraqi forces from Kuwait, and mandated the commission to pay $ 52.4 billion (46.8 billion euros) to Kuwaiti individuals, companies, government agencies and other organizations that suffered losses. Because of the Saddam regime's invasion of Kuwait, the compensation money comes from a tax imposed on sales of .Iraqi oil and its products
The economic advisor to the Prime Minister said that the budget was built 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 is filling the deficit, so there is no need for borrowing, that is, 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, Saleh indicated that creating a supplementary budget is not necessary, but it remains according to the .government's need and the extent of the revenue strength, and does it have important projects that are deferred that need a supplementary budget
he price of the dollar in Iraq today 3/9/2021
The price of the dollar in Baghdad Stock Exchange struggle
145,350
Dollar prices in the Iraqi provinces today, Tuesday 9 March 2021
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1460.0000 | 1465.0000 | 1458.3000 | 1457.2000 | 1457.2000 | 0.2000 | 14:59 |
| USD/VND |  23020.0000 | 23090.0000 | 23038.5000 | 23033.2900 | 23038.5000 | 15.5900 | 12:12 |
| USD/CNY | 6.5119 | 6.5139 | 6.5134 | 6.5052 | 6.5054 | 0.0069 | 19:45 |
| USD/KWD | 0.3023 | 0.3033 | 0.3025 | 0.3025 | 0.3025 | 0.0000 | 18:00 |
| GBP/USD |  1.3871 | 1.3873 | 1.3896 | 1.3869 | 1.3887 | -0.0015 | 19:45 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 0.0000 | 00:00 |
| USD/IDR | 14409.0000 | 14424.0000 | 14408.0000 | 14387.0000 | 14390.0000 | 18.0000 | 19:44 |
Cow cuddling for lonely hearts...
Investors pouring money into apps that monitor employee movements...
42% Now Consider Themselves Germaphobes!
OPEC oil prices rise to more than $68
Opec oil basket prices rose tuesday to more than $68, affected by the rise of other oil crudes.
"The price of the OPEC basket of 13 barrels of crude rose by $1.14 to $68.17, compared to Friday's price of $67.03," OPEC said in a report seen by Twilight News.
Some specialists attributed the rise in OPEC prices as a result of being affected by other raw materials, which were also affected by opec's continued production without increase.
The OPEC reference basket consists of: The Sahara Mix (Algeria), Gerasol (Angola), Djino (Congo), Zafiro (Equatorial Guinea), Rabie Light (Gabon), Heavy Iran (Islamic Republic of Iran), Iran), Basra Light (Iraq), Kuwait Export (Kuwait), S. Seder (Libya), Boni Light (Nigeria), Arab (Venezuela Light Saudi Arabia), Marban (United Arab Emirates) and Miri.
An official to Al-Araby Al-Jadeed: 3 billion dollars of Iranian funds are frozen in Iraq
Today, Tuesday, the Iranian government confirmed the approval of the authorities in Baghdad to allow Iran to partially use its frozen funds in Iraq as a result of the international sanctions on Tehran, explaining that the part allowed for use relates to specific internal needs, while a former Iraqi official indicated that the frozen Iranian funds amount to about 3 Billions of dollars.
The Iranian government spokesman, Ali Rabiei, said that appropriate mechanisms had been reached to allow Tehran to use part of its frozen funds in Iraq, adding, in a press statement, that "it was decided to use our financial resources in Iraq according to our internal consumption needs." The current US government has reduced pressure from the administration of former President Donald Trump, which was preventing Iran from obtaining some of its frozen funds abroad. "
Commenting on this, the head of the Foreign Relations Committee in the former Iraqi parliament, Abdul Bari Zebari, told Al-Arabi Al-Jadeed that the United States of America intends to ease the sanctions on Iran , especially with regard to funds frozen in other countries, including Iraq.
Rabiei: The current US administration has reduced pressure from the administration of former President Donald Trump, which was preventing Iran from obtaining some of its frozen funds abroad
He pointed out that Baghdad’s agreement to allow Iran to benefit from its funds frozen in Iraqi banks will not affect relations between Iraq and the United States because there are clear understandings, explaining that the Iraqi authorities will not take any decision in this regard without coordination with America, because they still need the support they need. Offered by Washington.
He pointed out that the Iranian funds frozen in Iraq amounted to about 3 billion dollars, indicating that "the Al-Kazemi government will announce a specific position on these funds after making contacts with Washington in this regard."
Yesterday, Monday, the Iranian ambassador in Baghdad, Iraj Masjedi, met with Iraqi Finance Minister Ali Abdul-Amir Allawi, to discuss the issue of Iranian funds frozen in Iraq.
The meeting also dealt with "the political climate between the two countries, and the mechanisms for paying Iran's financial demands from the Iraqi side."
During the meeting, the Iraqi Finance Minister affirmed that "Iran's financial demands are on the list of priorities, and that the necessary estimates have been drawn up in this regard.
Last Saturday, a phone call took place between Iraqi Prime Minister Mustafa Al-Kazemi and Iranian President Hassan Rouhani, dealing with several political, security and economic issues, including Iranian funds frozen in Iraq in accordance with the decisions that intensified during the era of former US President Donald Trump.
Iranian President Al-Kazemi said that "Iran possesses billions of dollars that have been frozen in Iraqi banks in violation of the law," noting that "these funds did not reach the Iranian side," despite repeated promises previously made by Iraqi officials.
The Iranian authorities are calling on Iraq to lift the freeze on electricity and gas export funds during the last period.
And at the end of last year, Iranian Energy Minister, Reza Ardakanian, said that his country had received 700 thousand dollars from Iraq in exchange for the export of electricity and gas, explaining that his country was considering buying the Corona vaccine from Europe through its money in Iraq.
Analyst: The Minister of Finance's adherence to the terms of the IMF is an affront to the dignity of Iraqis
Political analyst Hazem Al-Bawi considered that the Minister of Finance, Ali Abdul-Amir Allawi, invoked the conditions of the International Monetary Fund in the austerity imposed on the people, an outrage to the dignity of Iraqis and an insistence in exposing them to more unfair pressures.
Al-Bawi said in a press statement followed by Al-Independent today, Tuesday, that "the minister has forgotten or forgotten that the Al-Abadi government sought to enter Iraq in 2014 under the unfair conditions of the International Monetary Fund and remove the hand from the sectors of health, education and the ration card, contrary to the constitution."
He added that "Al-Abadi's government was the first to carry out unjustified imposed austerity, deducting employees' salaries and raising communications fees for citizens, which caused a state of turmoil and great popular anger that Iraq is under its weight until now."
Al-Bawi stressed the need for political and economic decision-makers to learn from that bitter experience and not to risk their credibility in front of the people who know well that the budget has been calculated at $ 43 per barrel of oil, while the price of Iraqi oil is sold today at $ 53 in OPEC and may reach higher than that, which negates the need. Unjustified austerity
The Iraqi parliament prepares to vote on the 2021 budget … and fears of political trade-offs
The Iraqi parliament has set next Monday as the date for voting on the 2021 budget, after more than 3 months of sharp disagreements over the terms of the budget, in which the total deficit is expected to reach nearly 20 billion dollars, with a total total of 88 billion dollars.
The price of a barrel of oil was calculated in the budget at $ 45, amid expectations of an increase in the last minute to $ 46 due to the current recovery in the global oil market.
Various Iraqi political forces express their concerns about what they describe as “political procrastination” by some parties to obstruct the passage of the budget again, by linking it to laws within the phenomenon of bartering in Parliament between the various political blocs and forces.
Over the past months, discussions over the budget resulted in a sharp reduction in the expenditures guaranteed by the government within it, leading to major changes in some items.
Various powers express their fears of “political procrastination” by some parties to obstruct the passage of the budget, by linking it to laws within the current barter phenomenon in Parliament
Operating expenses were reduced and a number of special items were deleted, such as conferences, hospitality, expenditures of the three presidencies (Parliament, the Republic and the government), expenditures of independent and governmental bodies and institutions, as well as grants and grants, and the suspension of allocations to several ministries and government departments that were deemed “excessive or unnecessary.”
Also, some internal resources were included within the general budget, such as collecting water, electricity, communications, and tax wages, investing public property by sale or renting to the private sector, and offering state treasury bonds in an amount of one and a half billion dollars, which led to the reduction of the supposed deficit from 50 One billion dollars to nearly 18 billion dollars.
It is expected that the size of the budget for the year 2021 will be at the threshold of 127 trillion dinars, instead of 164 trillion dinars (decreased from 113 billion dollars to about 88 billion dollars), and the price of one dollar will reach 1450 dinars.
According to recent understandings between the Kurdistan Regional Government and the central government in Baghdad, it has been agreed that the region’s share would be 12.67 percent of the total budget, and the region would deliver 250,000 barrels of oil per day from its fields to the Federal Ministry of Oil in Baghdad, and it is also committed to handing half of the proceeds of the border crossings to the region with Turkey and Iran.
During a session held yesterday evening, Monday, Parliament Speaker Muhammad al-Halbousi directed to include the budget law on voting during next Monday’s session.
And political forces have previously linked the draft budget and the passage of the Federal Court law.
Iraqi Alliance MP Jassem Al-Bakhati told Al-Arabi Al-Jadeed that “if the Federal Court law is passed in the Saturday session, the budget law will be passed,” stressing that “Saturday’s session will be decisive in this direction.”
During a session held yesterday evening, Monday, Parliament Speaker Muhammad al-Halbousi directed that the budget law be included in the vote during next Monday’s session
The forces that linked the vote on the current year’s budget and the Federal Court’s law want to pass the paragraphs that they put in the last law, which included the presence of Islamic Sharia jurists, which was considered a “new step for the Islamization of the state and a departure from the civil approach stipulated in the constitution, and the politicization of the judiciary.”
The Kurdish forces did not hide their fears from this trend, especially since the forces that adopted it want to fulfill their conditions in the Federal Court Law, which means that the Budget Law has become dependent on the conditions of those forces by passing the court law.
The representative of the Patriotic Union of Kurdistan, Alla Talabani, told Al-Arabi Al-Jadeed: “We in the Patriotic Union refuse to link the budget law related to people’s sustenance to any controversial laws that the forces may not reach an agreement on.” The article related to the region’s share, and that the regional government agreed to it, but some forces in Baghdad objected to the text, but it did not send an alternative text for it.
Talabani confirmed that “there is procrastination and evasion by some forces, as until now we have not obtained an alternative text,” indicating that “we asked Kurdish blocs to send an alternative text in order to study it and go towards the option of passing the budget.”
Member of the Finance Committee, representative of the Kurdish forces Jamal Cougar, confirmed that the budget has become a political paper to achieve some agendas, adding, in an interview with Al-Araby Al-Jadeed, that “bodies have linked the budget law, the Federal Court and other laws, which caused the postponement of all discussions regarding The budget during the previous period. ”
Cougar stated that “the budget has become a political paper, especially since there is no need to link it with any other law, and this has not happened in any previous parliamentary session.”
He stressed that “the dispute over the budget is not a dispute between the governments of Baghdad and Erbil, because from the beginning of the discussions the paper was exploited under the pretext of differences between the region and the center,” considering that “there is a conflict of wills, and this is what affected the budget and prevented it from being passed during the previous period.”
The deputy added, “We view the budget on the basis that it is the citizen’s sustenance, and linking it to any other file is targeting the citizen’s food and is a big mistake, and the first and last victim is the citizen.”
A member of Finance clarifies the fact that passing the budget is obstructed by the adjustment of the dollar exchange rate
a member of the Finance Committee in the Iraqi Parliament, Muhammad Ibrahim, revealed today, Tuesday, the fact that the passage , .of the budget bill in 2021 was obstructed due to the amendment of the exchange rate of the dollar against the Iraqi dinar
Ibrahim said, to "Baghdad Today," that "adjusting the exchange rate of the dollar against the Iraqi dinar is not an obstacle. As for passing the budget law in 2021, this matter is not from the authority of Parliament and the government is the one who sent this price, " .and we are obligated to vote on it, because the government has an economic plan." Interested in implementing the budget project
And that "the Parliament's Finance Committee, did not ask the Iraqi government to amend the exchange rate of the dollar against the Iraqi dinar, as it knows that its response will be rejected, but there are those who want to bid on the Finance Committee, and he .knows well that this matter cannot be modified or deleted by Parliament It is exclusively within the powers of the executive authorities
And a member of the Parliamentary Finance Committee, Jamal Cougar confirmed, today, Tuesday, that the current exchange rate of the dollar adopted by the government in the 2021 budget bill was an emergency option and will .continue until another budget bill comes
The International Monetary Fund suggested to the Central Bank to raise the price of the dollar to 1600, while the" . World Bank suggested raising it by 1450, and the government went with this option," Cougar said
He added, "It is not possible for the country to remain in constant confusion, through calls for a reduction or restoration of the exchange rate to its previous state. Therefore, the price of the dollar will remain constant until ".another budget comes
He stressed that "everyone should understand that this option was resorted to by the government, forced because ".the fiscal deficit in the budget bill before raising the exchange rate was 100 trillion dinars
Finance Minister Ali Allawi said in an interview with the Iraqi News Agency, "The exchange rate of the dollar is a government decision that cannot be changed daily as desired," indicating that "the markets have accepted the current ".exchange rate and will give incentives over the coming years to the private sector and strengthen reserves
The minister promised to "find stability by paying the salaries of employees on time," while noting that "the external ".debts amount to 60 billion dollars and the internal 70 trillion dinars
CBI Update: Just a note:
including $0. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
3-8-2021 Newshound Guru Jeff I knew in my gut they would have to have some type of celebration event before they do go international...you may not have realized it but the pope being in Iraq was actually that big celebration event. It was the grand finale before Iraq does revalue the currency... Article: "The Pope's visit to Iraq restored the country to its international status" ...this is huge. This is powerful.
3-8-2021 Newshound Guru Pimpy Article: "Kissinger: Biden must uphold Trump Administration's "Brilliant" Policy in the Middle East" ...What? I couldn't believe it! Trump tried to bring peace to the Middle East. Kissinger supporting this makes me kind of nervous...whenever these people support anything you got to get weary about it. I'm a huge supporter of Trump but I pray to God that I don't find out that this guy was secretly somehow some way the boogeyman...whenever Kissinger agrees with you that's kind of a scary thing...
3-8-2021 Intel Guru MarkZ [via PDK] [What makes people think the dong rate will be between .47 and $2.27?] Most people get that based on a reinstatement of currency. If they reinstate their currency it would be about $2.21 or so…just re-establishing the value to where it was before they devalued it. The .47 cents showed on a lot of bank screens all over the world a few years ago when it seemed that we were very close before….
3-8-2021 Newshound Guru Jeff They're not going to approve the budget...until Saturday March 20th. This is becoming so predictable. They're gonna do the budget 24 hours before they change the rate. It's that simple...
3-8-2021 Intel Guru MarkZ [via PDK] A lot of chatter in Iraq over the weekend as they have met all of their obligations and are ready to adjust their value...it feels like Groundhog Day but last week in Iraq they did pass some key pieces of legislation with their white papers and the budget…we are right on the cusp of this happening…it is just painful because nobody knows the exact timing…
3-8-2021 Newshound Guru Jeff Article: "Representative economic: The conditions are ready to adjust the exchange rate and the oil barrel in the budget" This is a great article...Iraq hasn't revealed the true price of oil to you nor have they shown you the true dinar amount contained in that budget...They're hiding those numbers and figures from you so you cannot see that this budget is linked to the rate change...we're in a great position. This ride's over in about two Sundays IMO...
3-8-2021 Intel Guru Footforward [Wouldn’t it be great to get the RV when crypto goes back into the bear market. Imagine buying that dip.] It is the plan.
The European Union and the World Bank issue a joint statement on the economy of Iraq ... and an urgent request
link
Statement of the co-chairs issued by the co-presidency of the European Union, Germany and the World Bank following the meeting of the directors of the Iraqi Economic Contact Group,
following the launch of the Iraqi Economic Contact Group (IECG) on October 22, 2020 in London, the Government of Iraq met with its international partners in the Economic Contact Group at the level of directors in March 2, 2021, to conduct an assessment of recent reform steps, in order to begin identifying and aligning international support, and to map the way forward towards holding a high-level contact group meeting in late spring of 2021.
The Iraqi economy has faced multiple shocks that led to a severe recession and high poverty rates. Structural hurdles accumulated for decades limit the availability of fiscal reserves to mitigate the socio-economic impact on Iraq's most vulnerable citizens and its business ventures. As a result, engaging in reforms is the fastest way to reverse the situation. Indeed, the long-term success of Iraq is crucial to the stability of the entire region. But the Iraqi oil-based economic model is facing an increasing challenge from a young and growing population that needs to diversify job opportunities, and from an irreversible global trend towards decarbonization and a green economy.
The Iraqi government has taken commendable steps to address immediate and long-term financial and economic challenges by initiating a frank discussion on structural reform requirements to address fiscal imbalances, address critical infrastructure gaps and direct the Iraqi economy towards sustainable and inclusive development, including gender equality.
As partners and friends of Iraq, we have indicated our appreciation for the steps taken recently to move from analysis to implementation, as evidenced by the Cabinet's approval of the implementation plan for the White Paper, including its governance structure to achieve this goal, and we commended the Prime Minister and his government for their advancement.
Therefore, we call for the acceleration of the adoption of a reform-oriented Iraqi national budget, given the need for it to provide the necessary means and tools to ensure that Iraq can continue on its reform path towards stability. At the same time, we have been informed of the additional work required to implement the reforms. There is an economic and social cost to being late in taking action, so it will now be necessary to start urgent implementation based on the priorities identified. The reform agenda must be an integral part of a broad and open dialogue between the government, parliament, and citizens of Iraq, in order to ensure that the future of Iraq is shaped comprehensively.