WOTS THU MAY 20 21
These are the articles I discussed on the very brief
My FX Buddies Podcast (which ends abruptly)
Excluding Iraq from the Davos forum is a wake-up call for decision-makers in the country
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The expert in economic affairs, Raad Twig, said that excluding Iraq from the International Davos Forum held last month is a wake-up call for decision-makers in the country.
Twig said in a statement to the Iraqi National News Agency / NINA / that "the Davos International Forum is a global economic forum that discusses economic developments in the world, and the exclusion of Iraq from it for the lack of quality education, whether at the level of higher and primary education, represents a warning bell for decision-makers in the country, so institutions must Al-Iraqiya should not listen to this warning, update economic policies, and change the essence of education in Iraq in order for it to be productive education.
He added: "In practice, the quality of education is the first step towards building an economy that can support 40 million people, which will double to 80 million after two decades, and this represents a wake-up call for decision-makers in the country to put the right man in the right place in the leadership of distinguished economic and educational institutions. Stereotyped. "
Twig stressed "the necessity to search for scientific methods to start from the state of immersion in the static and monotonous economy, and to launch a major economic process to obtain high growth rates equivalent to the high population growth rate", indicating: "The projections for annual growth rates in Iraq indicate 1.8%, and it is necessary." From the acceleration of major, immediate, real and realistic economic development, and the necessity of keeping political interference away from economic reality. "
He continued, "Improving the quality of education is not by training a number of students on specific exams, but by spreading knowledge collectively to the Iraqi community as a whole and not in a piecemeal fashion, and that will have an economic impact on society, which will raise the name of Iraq high in Davos and other forums."
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A member of the Iraqi Economic Council, Ghadeer Al-Attar, called on the government to start forming a "Economic Stability Support Fund" to support financially troubled companies due to the recurrent crises from 2019 to the present time.
Al-Attar said, in a statement that Mawazine News received a copy of, that "the Iraqi government must work to form a fund called the" Economic Stability Support Fund "to be financed from some of the government support items.
He added, "This fund will contribute to assisting companies, investors and belonging to the private sector and saving them from financial distress due to the events that have erupted since October 2019, followed by the spread of the Corona pandemic and the economic and political crisis."
He referred to "the necessity of launching interest-free lending initiatives for companies and small and medium enterprises to enhance their viability and economic work."
Al-Kazemi stresses the need to overcome obstacles to attract local and foreign investment
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Prime Minister Mustafa Al-Kazemi stressed, today, Wednesday, the need to overcome obstacles and provide the appropriate environment to attract local and foreign investment
The media office of the Prime Minister said in a statement received by Alsumaria News, "The latter conducted a visit today to a number of sites of agricultural and animal production companies in the province Wasit, "He was briefed on the progress of work in it and urged the employees to make every effort to increase production and improve its quality. He also listened to the complaints and suggestions of those in charge of it
According to the statement, Al-Kazemi stressed "the importance of advancing the agricultural situation in." Iraq Which has witnessed a significant decline during the past decades as a result of wars and conflicts, as well as due to mismanagement, planning and the spread of corruption, which prevented the agricultural sector from being the forerunner of the rest of the sectors after oil.
He stated that "the government, within the framework of the long-term economic reform approach that it has planned, has adopted support for the private sector, providing the requirements for its development for its importance in revitalizing the economy and achieving the goals of sustainable development," stressing the need to "overcome obstacles and provide the appropriate environment to attract local and foreign investment to work in all fields." Especially in the agricultural sector
"Abu Dhabi Islamic" launches a platform for banking services in Ira
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Abu Dhabi Islamic Bank announced that it will enhance its services in Iraq by launching the “ADIB Direct” digital corporate banking services platform in the State of Iraq, with the aim of meeting the needs of the local business sector.
Designed to meet the needs of corporate clients, ADIB Direct is an innovative digital banking platform that provides corporate customers with a portfolio of banking solutions through a simplified and unified interface, including cash management, cash flow forecasting and foreign currency exchange services.
On this occasion, Abdullah Al Shehhi, Head of International Business at Abu Dhabi Islamic Bank, said: “Abu Dhabi Islamic Bank plays a pivotal role in supporting the local economy in the State of Iraq, by providing the business sector and companies with a portfolio of banking solutions and services that meet their needs and support them in achieving prosperity. And achieving its financial goals. The ADIB Direct platform enables companies to efficiently manage their affairs and operations, including cash payments, liquidity, trade finance, supply chain and foreign currency exchange services, enabling them to focus on enhancing their business and moving it forward towards broader horizons of growth and development.
A bombing targets a logistical convoy of the international coalition in southern Iraq
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On Tuesday, an official security source said that there had been an explosion targeting a logistical support convoy of the international coalition in southern Iraq.
The source told Shafaq News Agency, that an explosive device exploded targeting a logistical support convoy for the coalition as it passed through the Nasiriyah highway.
According to the source, the explosion did not leave any casualties in the ranks of the convoy, and it continued its march towards its intended destination.
Below here is the daily WOTS "Word on the Street" report:
The exchange rates of the dollar on the local markets on Thursday (May 20, 2021), according to the monitoring of specialists.
Baghdad - Al-Kifah Stock Exchange
148,700
....
Price in exchange (approximate)
148,250
149,000
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Basra / Stock Exchange
148,850
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Erbil / Bursa
148,925
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The Markets:
The Asian markets closed mixed NIK up by .19% HSI down by 50% SHANG down by .11%
The UK markets are currently trading in the green mostly from .34% to .63% FTSE down by .08%
Our futures are currently trading down DOW at 33652 by .53% SNP at 4091 down by .50% NDX at 13173.5 down by .45%
Precious Metals:
Gold is red at 1865 Silver is red at 27.66 Copper is red at 456 Platinum is green at 1200
Brent 65 WTI 62 Bitcoin: 39,920 10 yr yield: 1.66
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|
| USD/IQD |  1460.0000 | 1465.0000 | 1458.3000 | 1457.6000 | 1457.6000 | 0.7000 | 00:00 |
| USD/VND | 23045.0000 | 23055.0000 | 23036.0700 | 23031.7000 | 23031.7000 | 5.6300 | 00:05 |
| USD/CNY |  6.4383 | 6.4405 | 6.4416 | 6.4334 | 6.4334 | 0.0045 | 05:26 |
| USD/KWD |  0.3003 | 0.3013 | 0.3005 | 0.3003 | 0.3005 | -0.0001 | 05:26 |
| GBP/USD | 1.4121 | 1.4122 | 1.4141 | 1.4101 | 1.4113 | 0.0008 | 05:27 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 0.0000 | 00:00 |
| USD/IDR | 14412.0000 | 14419.0000 | 14420.0000 | 14350.0000 | 14388.0000 | 25.0000 | 05:26 |
Things in the News:
Iraqi Articles:
Brent is near its lowest level in three weeks
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Brent oil stabilized, Thursday, near its lowest level in three weeks, after a wider recession in the market, as investors bet on the possibility of an increase in Iranian supply at a time when OPEC + returns more oil to the market.
Brent crude rose six cents, or 0.42 percent, to $ 66.94 a barrel by 05:41 GMT, after falling 3 percent on Wednesday. US oil fell seven cents, or 0.55 percent, to $ 63.70 a barrel, after falling 3.3 percent in the previous session.
Oil is still up nearly 30% this year as the recovery from the Covid-19 pandemic accelerates in the United States and parts of Europe, while purchases of crude oil shipments from countries like China remain strong.
The second wave in India reduced sales of gasoline and diesel by up to 20% for the largest refiner, the Indian Oil Corp., lowering processing rates.
The price drop this week gave additional momentum on Wednesday after media reports said that the United States and Iran had made progress in talks over Tehran's nuclear program that could lead to the lifting of sanctions and the entry of more supplies into the market
Nechirvan Barzani discloses "significant" external support for Erbil and Baghdad to resolve their differences
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The President of the Kurdistan Region, Nechirvan Barzani said on Wednesday that there is "great" international support for Erbil and Baghdad to solve the differences and pending issues between them, stressing the need to achieve political stability in the country in order to eliminate ISIS in the disputed areas.
President Barzani said in a speech during the (Unity and Constitution) conference in Erbil, "We are going through a sensitive phase, which is the stage of the Iraqi elections, and all parties are trying to rearrange themselves." To overcome all problems in Baghdad.
Regarding the differences between Erbil and Baghdad, Barzani said: There is great political support for Baghdad and the region in addition to external support towards dealing with our problems with Iraq within the framework of the constitution, and for this we will continue our efforts.
The head of the region confirmed that the (UNAMI) mission in Iraq has played a positive role so far. In a letter to the United Nations, I requested, as the Kurdistan Region, to increase the role of its mission in addressing the differences between Baghdad and Erbil, from which we ultimately aim for the political stability of the country and without addressing the problems there will be no political stability .
President Barzani went on to say that "ISIS in the so-called disputed areas is currently very effective and if we want to eliminate it, there must be political stability in the country.
An independent politician warns of a scheme for the collapse of the currency and the national economic system
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The independent politician Thaer Munir Al-Zubaidi warned of a plot to collapse the currency and the national economic system.
Al-Zubaidi said in a statement carried by his media office: "The continuous rise in the exchange rate of the dollar, especially during the past two days, confirms the existence of a plan to hit the national economy and its national currency."
He added, "The people have said their word to reject the new rate for the exchange of the dollar, and if the government is not able to return it as it was in the past, then at least adhere to the Central Bank’s decision at the announced rate."
Al-Zubaidi held the economic advisors in the cabinet and the advanced cadre in the bank responsible for this situation with the high exchange rate, which clearly affected the standard of living for all citizens.
Iraq maintains its fifth position in the Arab world and the 38th in the world in terms of gold reserves
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At a time when the Central Bank of Iraq seeks to enhance its global share of gold, Iraq has maintained its fifth position in the Arab world and 38 in the world in yellow metal reserves, according to the latest statistics of the World Gold Council, with a reserve of 96.4 tons (8.1 percent of other hard currency reserves). In this regard, banking expert Abdul-Hussein Al-Mandhari told Al-Sabah: “After the hypothetical meeting that was held recently between the governor of the Central Bank and the management of the World Gold Council, the need to enhance Iraq's possession of its gold reserves,” indicating that the goal of this step is “to ensure stability The exchange rates of the Iraqi dinar after its depreciation against the US dollar as a result of a change in the exchange rate.
Al-Mandhari added, "The fluctuation of the prices of the dollar and oil globally in recent months. He called on the Gold Council to offer to sell Iraq an additional amount to strengthen the strength of its dinar, because most of the dinar’s reserves are in dollars, and most of them are invested in US Treasury transfers, and the value of the dollar has recently decreased. Gold has the advantage of being quick to liquefy global currencies in the event that there is a desire to sell it to meet any deficit in financing, as well as the absence of any risk if some dollar amounts are converted into gold.
The former director of the Nahrain Islamic Bank pointed out that "Iraq is currently ranked fifth in the Arab world, after Saudi Arabia, Lebanon, Algeria and Libya, in gold reserves."
The World Gold Council had expressed its willingness to provide support in case it wished to increase the gold quota for Iraq.
According to a central bank statement, “The Governor of the Central Bank of Iraq, Mustafa Ghaleb, held a meeting with the World Gold Council at their request,” indicating that “the meeting dealt with a number of issues, most notably the technical support and training files, in addition to discussing the increase in the foreign reserves of the Central Bank. These have been achieved after the implementation of recent reforms in the work of the bank and the banking sector. "The World Gold Council has also provided full support to the Central Bank of Iraq if it wishes to increase the share of gold for Iraq.
Gold prices rose during the past 48 hours to their highest level in more than three months, as the appeal of the precious metal was enhanced by wary investors with the decline in US Treasury bond yields and the decline in stock prices due to inflation concerns.
Gold rose in spot transactions 1.3 percent to $ 1866.50 an ounce, its highest level since the first of last February.
And US gold futures rose 1.6 percent to settle at $ 1867.60 an ounce.
"There is an escape to safety from the stock market ... the expectations are that we will continue to see a much stronger trend for inflation numbers from now on," said Jeffrey Sica, founder of Circle Square International Investments.
He added, "Treasury yields will remain stagnant, and that will further increase the likelihood that investors will choose gold."
The rally in stock markets was halted as demand for riskier assets was hit by inflationary pressures. Data last week showed that US producer prices rose more than expected in April.
The yield on the US benchmark 10-year Treasury bonds decreased, which reduces the opportunity cost of holding gold that does not yield a return.
Investors are now awaiting the minutes of the most recent meeting of the Federal Reserve to be released today for more clues on the US central bank's monetary policy, and any comments on inflation. Gold is seen as a hedge against inflation.
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 May 20th , 2021 total sales amount $ . NO UPDATE
ISX Update:
www.isx-iq.net/
Shares Traded: not updated for today
Value Traded: not updated for today
https://www.dinarguru.com/5-20-2021 Newshound/Intel Guru Petra Just think thru why ISX is closed for an extended period, and today, the currency traders stopped trading because they know what’s coming and don’t want to get stuck on the wrong side of the equation. It was in a Post today!!! IMO
5-19-2021 Intel/Newshound Guru Holly Frank26 said...many people called and went to banks to order Dong and it’s no longer available. The Governor of the Central Bank of Vietnam has recalled the currency back to Vietnam. They’re recalling it for a reason. Many countries are not ready but Vietnam is way ahead of the rest. I have heard from others the banks have stopped selling Vietnamese Dong.
5-19-2021 Newshound Guru MilitiaMan The mechanism is the exchange rate in my view. They want what everyone wants. The transformation digitally is on going with the Arab Summit taking place through tomorrow...When Iraq has everyone on board and compliance ready, they'll jump start the reforms and f ast, imo...The digital roll out is the level playing field. It is the mechanism that will trigger a massive global change. imo So be at peace, as change is coming....Get ready!!!
5-19-2021 Intel Guru MarkZ [via PDK] ...I am hearing of lots of success moving money between different banking centers…and with just a few small glitches they are now willing to move forward...and just deal with stuff as it comes up…I hope this is true…The game is afoot. [How much farther has the rv gone this time compared to the past] We have never been this far before….
5-19-2021 Newshound/Intel Guru Walkingstick [via Guru Frank26] Question: [Everyone but Mustafa the governor [CBI] is talking about the exchange rate staying that way for the next 4 years?] Liars!...you think I care about this "garbage"? These guys who have nothing to do with the monetary reform...these Iranian influence jerks that are trying to change stuff up you know very well they have no idea of what's going on. If you get Mustafa and he talks to you then it's something for you to consider.
5-19-2021 Intel/Newshound Guru Holly Per my sources they are all saying we are in the window this week for the final release...
5-19-2021 Intel Guru Frank26 [Bank Story Continued] Frank - Not every bank in the Untied States of America is going to be involved in the exchange. And for that matter not every bank that is going to be involved in the exchange knows everything right now. Most of the executive levels do know but it's up to them on how much they allow to trickle down. Question for W - Did you say [You have] 'Iraqi dinars' or did you just say 'dinars'? I told him 'dinars' but after told him 'Iraqi dinars' because remember out there there are different 'dinars'. Frank - That was Chase Bank in Jacksonville Florida... [Post 3 of 3]
5-19-2021 Intel Guru Frank26 [Bank Story Continued] I asked what is the process? He said, 'the process is you come in, we go to the conference room and count the money and then we go to the teller and put the money in the bank and you got the money. Simple.' Frank - So he gave you the procedure. So when you are ready you bring your currency in, they take you to...the conference room, sit down with you, count it out and then they do the exchange? W - they walk you to the teller, explain the situation and put in the money and you walk away. [Post 2 of 3 Stay tuned for the rest of the story...]
5-19-2021 Intel Guru Frank26 [Community member bank story.] Frank - About a month ago I told you IMO you should start asking your bank friends about the Iraqi dinar...I feel banks are now in the position where they are well advised/informed of what's going on. "W" lives in Jacksonville, Fl [Here's his bank story] I went to one of the managers [Chase Bank] and went into the office...I closed the door behind me...I said I don't want anyone to hear this conversation...I said I have some currency to later on exchange. He said, 'ok, what kind of currency...?' I have dinars. He looked at me with eyes open big. I said, everything alright? He said 'yeah, yeah.' He starts typing on the computer...he said, 'oh, we've been waiting for something to happen. When something happens we will be ready for you.' Frank - So he said they have been waiting for something to happen with the Iraqi dinar!? W - Yes. Frank - Ok, continue. [Post 1 of 3 Stay tuned for the rest of the story...]
5-19-2021 Intel Guru MarkZ [via PDK] Bank rates are bouncing all over…Some rates disappeared altogether…not showing at all…Dong is still moving around on bank screens…I have seen screen shots from banking folks…rates are all over the place…this makes sense…they do not want us to know what is real and what is smoke…I believe these rates are “place holders”…they are doing a lot of testing… I am hearing that contract rates on the dong may be close to $4.00 now...around the $3.80 rate? …remember…it’s all a rumor until we get to the banks…
5-19-2021 Newshound/Intel Guru Mnt Goat Article: "PARLIAMENTARY FINANCE TALKS ABOUT THE CONTINUATION OF THE CURRENT EXCHANGE RATE OF THE DOLLAR FOR THE NEXT FOUR YEARS" Quote: "...setting up a schedule for four years to normalize the exchange rates of the dollar is illogical and contains many inaccuracies..." ...They are not saying that the devalued rate of the dinar will remain for 4 years. The finance committee is apposing this move and says it will be subjected to “annual” evaluation...
Catnip's Corner:************
ARTICLE 1 (from PM Kadhimi's website; posted only on Arabic side, not on English side)
Headlines only posted on 5-19-2021
Prime Minister Mustafa Al-Kazemi inspects a number of sites of agricultural and livestock production companies in Wasit
Prime Minister Mustafa Al-Kazemi reviews the wheat harvest process in Wasit
The most prominent thing that the Prime Minister, Mr. Mustafa Al-Kazemi, spoke during several meetings with a number of graduates of the College of Agriculture and Peasants in Wasit Governorate
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ARTICLE 2 (from Government of Iraq twitter account)
At the time this report was submitted, there are no new tweets posted on the Government of Iraq twitter account.
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ARTICLE 3
Al-Kazemi stresses the need to overcome obstacles to attract local and foreign investment
2021-05-19 | 05:59
Alsumaria News
Prime Minister Mustafa Al-Kazemi stressed, today, Wednesday, the need to overcome obstacles and provide the appropriate environment to attract local and foreign investment.
The media office of the Prime Minister said in a statement received by Alsumaria News, "The latter conducted a visit today to a number of sites of agricultural and animal production companies in Wasit Governorate,"
"He was briefed on the progress of work in it and urged the employees to make every effort to increase production and improve its quality. He also listened to the complaints and suggestions of those in charge."
According to the statement, Al-Kazemi stressed "the importance of advancing the agricultural reality in Iraq, which has witnessed a significant decline during the past decades as a result of wars and conflicts, and also due to mismanagement, planning and the spread of corruption that prevented the agricultural sector from being the forerunner of the rest of the sectors after oil."
He stated that "the government, within the framework of the long-term economic reform approach that it has planned, has adopted support for the private sector and provided the requirements for its development for its importance in revitalizing the economy and achieving sustainable development goals," stressing the need to "overcome obstacles and provide the appropriate environment to attract local and foreign investment to work in all fields. Especially in the agricultural sector. "
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ARTICLE 4
Al-Kazemi: The government, as part of its long-term economic reform approach, has adopted support for the private sector
12:49 - 19/05/2021
Baghdad - Mawazine News
The Prime Minister, Mustafa Al-Kazemi, confirmed, on Wednesday, that within the framework of the long-term economic reform approach that the government has planned, it has adopted support for the private sector.
A statement by his media office, a copy of which Mawazine News received, stated that “Prime Minister Mustafa Al-Kazemi visited a number of agricultural and animal production companies' sites in Wasit Governorate, and was briefed on the progress of work in them and urged workers to exert maximum efforts for the sake of Increasing production and improving its quality. He also listened to the complaints and suggestions of those in charge. "
Al-Kazemi stressed, "the importance of advancing the agricultural reality in Iraq, which has witnessed a significant decline during the past decades as a result of wars and conflicts, as well as due to mismanagement, planning and the spread of corruption that prevented the agricultural sector from being the forerunner of the rest of the sectors after oil."
"The government, within the framework of the long-term economic reform approach that it has planned, has adopted the support of the private sector and provided the requirements for its development for its importance in revitalizing the economy and achieving the goals of sustainable development, by overcoming obstacles and providing the appropriate environment to attract domestic and foreign investment to work in all fields, especially in The agricultural sector. "
The Prime Minister visited Wasit Governorate this morning, during which he met with a number of officials in the governorate, he also inspected the progress of work in Silo al-Dabouni, met with its workers and addressed the obstacles to receiving wheat from farmers.
During his visit to Wasit Governorate, Al-Kazemi held meetings with a number of farmers and graduates of the Faculties of Agriculture, and stressed during the meeting the importance of advancing the agricultural reality and adopting modern methods in agriculture and developing agricultural industries, and stressed that the government supports all plans and initiatives that would advance this most important sector.
During the visit, the Prime Minister was briefed on the wheat harvesting process in one of the large farms in Wasit Governorate, where he directed the concerned authorities to address the problems facing the governorate's farmers.
His Excellency also inspected the homes of a number of citizens in the village of Karim Al-Jasem in Al-Dabouni district in Wasit, and was informed of their conditions and directed to follow up on meeting their needs.
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ARTICLE 5
Unity and the Constitution: The Kurdistani Party calls for the region’s president to exercise his powers and powers
2021-05-19 05:15
Shafaq News / The head of the Kurdistan Justice Party (formerly the Islamic Group) Ali Babir called on Wednesday for the President of the Kurdistan Region, Nechirvan Barzani, to exercise his powers and powers, and to enable him to directly and comprehensively oversee the political process in the region.
During his hosting of a seminar on the sidelines of the (Unity and Constitution) conference in Erbil, Babir praised "the role of the regional president, Nechirvan Barzani, in addressing the crises that Kurdistan has gone through," saying: The region has been exposed for several times to crises that President Barzani was able to address with initiatives and visits he made and sober speech. And his recent visit to political parties and forces was a very good thing.
He also said: I think that the next step should be determined by the president and the presidency exercising his powers, indicating that according to the political custom in force in the region before the constitution was drafted, it was focused on the president exercising his powers and duties in a greater and wider way.
Babir continued by saying: The region’s presidency is the only institution that can bring together political parties and forces in Kurdistan and supervise the political process.
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