WOTS TUE MAY 4 21
These are the articles I discuss on the My FX Buddies Podcast
The minimum account opening is 1 million dinars Profits are given at the end of each month no restrictions on withdrawing the depositAdvisor to the Prime Minister resolves the controversy over the supplementary budget
The Economic Adviser to the Prime Minister, Mazhar Muhammad Salih, ruled out, on Tuesday, that there will be a supplementary budget for this year due to the delay in approving the general budget.
In a statement reported by Al-Sabah newspaper and seen by the information, Salih said, “I do not expect that there will be a supplementary budget, because the general budget has been greatly disrupted and approved a short time ago, and usually the country's budget must be approved at the beginning of the year in order to know its revenues for half Year, and then we will know whether we need a supplementary budget or not.
He added that "high oil prices do not necessarily mean that there is a supplementary budget, especially since the general budget is built on a deficit, and the price difference is better for the state than borrowing." Better financial revenue. ”
Saleh explained, "The country's situation determines this matter if there are important projects that need to be implemented after they have been postponed, in addition to the existence of deferred financial projects."
Despite the high oil prices, two reasons may prevent the approval of a supplementary budget
The appearance of Muhammad Saleh, the economic advisor to the Iraqi prime minister, ruled out that there would be a supplementary budget for this year due to the delay in approving the general budget.
Saleh said in press statements, I do not expect that there will be a supplementary budget, because the general budget has been greatly disrupted and it was approved a short time ago, and usually the country’s budget must be approved at the beginning of the year in order to know its revenues for the half of the year, and then it is known whether we need a supplementary budget or No".
He added, "High oil prices do not necessarily mean that there is a supplementary budget, especially since the general budget is based on a deficit, and the price difference is better for the state to benefit from than borrowing." Knowing the financial revenues better ”.
Saleh indicated that "the country's situation determines this matter if there are projects that need to be implemented after they have been postponed and they are important, as well as the existence of deferred financial projects."
Baghdad's ambassador in Rome to RT: We asked Italy's help to lift the seizure of Iraq's funds frozen in its banks
Today, Tuesday, the Iraqi ambassador to Italy, Safia Al-Suhail, revealed that her country submitted a request to the Italian government to lift the seizure of Iraq's funds frozen in its banks.
He told RT, "The request includes Iraqi funds frozen before 2003 in Italian banks."
She added, "The Italian Foreign Minister affirmed his country's keenness to solve this problem to recover the funds of the frozen Iraqi accounts in his country's banks."
Al-Suhail emphasized Iraq's desire to strengthen its relations and openness towards economic relations with Italy, and called on Italian companies to invest in reconstruction projects and expand cooperation in the sectors of culture, education and tourism.
The funds of the former Iraqi regime and those connected to it were frozen in 1990 by UN Security Council Resolutions 660 and 661, against the backdrop of Saddam Hussein’s regime’s invasion of Kuwait.
To revive the cultural and historical heritage in Iraq .. The Minister of Foreign Affairs invites investment companies in the Vatican
The Foreign Ministry stated, in a statement, that "Hussein met with the Secretary of State of the Vatican City, Paul Richard Gallagher, at the Vatican State Building."
Hussein expressed, "Iraq aspires to activate the frameworks of cooperation with the Vatican in various fields, in light of the distinguished relations between the two sides." .
The foreign minister said, "Iraq is a meeting place for religions that all agree to respect human beings, their dignity, and spread the culture and values of peace," stressing "the government's insistence on the return of the displaced, and the rehabilitation of women and children victims of ISIS."
And he demanded, "the reconstruction of churches in the city of Mosul, and the building of a hospital for women who have survived ISIS terrorism."
On the historic visit of His Holiness Pope Francis, the minister said, “The visit of His Holiness the Pope to Iraq and the city of Ur birth of the father of the prophets Abraham - peace be upon him - represented great support for Iraq, and special support for Christians in it, and we look forward to investing it religiously, politically and culturally.”
He called on the investment companies in the Vatican State to "work in Iraq to revive the cultural and historical heritage."
Al-Kazemi's meeting with the American delegation: Confirmation of the outcomes of the strategic dialogue between Baghdad and Washington
Prime Minister Mustafa discussed, on Tuesday, the file of the withdrawal of US forces from Iraq, with the US government delegation headed by the White House Coordinator for Middle East and North Africa Affairs Brett McGurk.
A statement by Al-Kazemi's office, a copy of which was received by People (May 4, 2021), stated that “Prime Minister Mustafa Al-Kazemi received today, Tuesday, the US government delegation headed by the White House Coordinator for the Middle East and North Africa, Brett McGurk, and included the advisor of the US State Department. Derek Chollett, Assistant Secretary of State for Near Eastern Affairs Joy Hed and Deputy Assistant Secretary of Defense for Middle Eastern Affairs Dana Stroll.
The statement added, "During the meeting, coordination and joint cooperation in various fields were discussed, and an emphasis was placed on activating the outcomes of the strategic dialogue between Iraq and the United States of America, especially with regard to the withdrawal of combat forces from Iraq and the development and expansion of cooperation in the economic, cultural and commercial fields."
He continued, "During the meeting, the issue of cooperation in the health field and combating the Corona pandemic was also discussed, as well as assistance in providing support for the rehabilitation of some health institutions in Iraq.
Saudi Arabia grants an Iraqi private bank a license to conduct business in the Kingdom
Saudi Arabia agreed to grant a license to open a branch of an Iraqi National Bank in order to conduct its business in the Kingdom.
The Saudi Press Agency, followed by "People," quoted a number of decisions taken by the Saudi Council of Ministers, which held a video-calling session chaired by King Salman, including "approval of the license for the Iraqi National Bank to open a branch in the Kingdom.
part of a text from a person in Iraq to a person here in the US
So, he said they were told that the 1450 has retro to jan and that's covering the reforms that already started. He said no RV this year. so they are leaving the country. He said they are already paying for 40,000 new Govt assistance, started projects for health and electricity, paying out the money to reach more citizens with the current rate. (There are articles that cover all of the things he said in his text)
Below here is the regular WOTS "Word on the Street" Report for the day:
According to a Correspondent for Shafq News, the Central Al-Struggle and Harthiya Stock Exchange in Baghdad recorded 148,000 Iraqi dinars compared to US$100.
At its opening on Monday morning, the Central Struggle Stock Exchange recorded 148,100 Iraqi dinars.
Our correspondent pointed out that the prices of buying and selling settled in banking shops in the local markets in Baghdad, where the sale price reached 148,500 Iraqi dinars, while the purchase prices reached 147,500 dinars per 100 U.S. dollars.
In Erbil, the capital of Kurdistan province, the dollar rose to 148,300 dinars per 100 dollars, buying and 148,100 dinars per 100 US dollars.
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1434.3000 |  1484.0000 | 1458.3000 | 1457.8000 | 1457.8000 | 0.7000 | 00:07 |
| USD/VND | 23067.0000 | 23069.0000 | 23034.2400 | 23034.2400 | 23034.2400 | 2.3700 | 00:07 |
| USD/CNY |  6.4728 | 6.4748 | 6.4730 | 6.4724 | 6.4728 | 0.0000 | 00:07 |
| USD/KWD | 0.3010 | 0.3020 | 0.3011 | 0.3010 | 0.3011 | -0.0001 | 05:04 |
| GBP/USD | 1.3886 | 1.3888 | 1.3912 | 1.3851 | 1.3907 | -0.0021 | 05:26 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 0.0000 | 00:00 |
| USD/IDR | 14435.0000 | 14438.0000 | 14444.0000 | 14382.0000 | 14399.0000 | 37.0000 | 05:21 |
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Despite the high oil prices, two reasons may prevent the approval of a supplementary budget
The appearance of Muhammad Saleh, the economic advisor to the Iraqi prime minister, ruled out that there would be a supplementary budget for this year due to the delay in approving the general budget.
Saleh said in press statements, I do not expect that there will be a supplementary budget, because the general budget has been greatly disrupted and it was approved a short time ago, and usually the country’s budget must be approved at the beginning of the year in order to know its revenues for the half of the year, and then it is known whether we need a supplementary budget or No".
He added, "High oil prices do not necessarily mean that there is a supplementary budget, especially since the general budget is based on a deficit, and the price difference is better for the state to benefit from than borrowing." Knowing the financial revenues better ”.
Saleh indicated that "the country's situation determines this matter if there are projects that need to be implemented after they have been postponed and they are important, as well as the existence of deferred financial projects."
Economist: Oil revenues confirm that there is no deficit in the budget
The economic expert, Wissam Al-Tamimi, said, Tuesday, that what was revealed by the Ministry of Oil from revenues for the last month and with the high exchange rate of the dollar, confirms categorically that there is no deficit in the budget and if any, it is very slight.
Al-Tamimi said, in a statement to Al-Maalouma, that "the recovery of oil prices is a good indicator that confirms the continuation of the rise after the middle of this year to more than $ 65 a barrel, due to the return of industry and the manufacture of Corona vaccines, which will restore commercial activity to the whole world and bypass the closure in some countries."
He added that " Iraq, as the largest exporter of oil, has achieved a recovery and great revenue, as well as that the government decided to raise the exchange rate of the dollar in the budget, and thus the financial deficit has been eliminated, and if it is found, it is very slight."
Al-Tamimi pointed out that " Iraq faces a great opportunity to revive its economy by entering the newly explored gas export market in Diyala and Anbar, despite the control of some countries over this market.
Activating the economic activities of Iraq
To revive the cultural and historical heritage in Iraq .. The Minister of Foreign Affairs invites investment companies in the Vatican
The Foreign Ministry stated, in a statement, that "Hussein met with the Secretary of State of the Vatican City, Paul Richard Gallagher, at the Vatican State Building."
Hussein expressed, "Iraq aspires to activate the frameworks of cooperation with the Vatican in various fields, in light of the distinguished relations between the two sides." .
The foreign minister said, "Iraq is a meeting place for religions that all agree to respect human beings, their dignity, and spread the culture and values of peace," stressing "the government's insistence on the return of the displaced, and the rehabilitation of women and children victims of ISIS."
And he demanded, "the reconstruction of churches in the city of Mosul, and the building of a hospital for women who have survived ISIS terrorism."
On the historic visit of His Holiness Pope Francis, the minister said, “The visit of His Holiness the Pope to Iraq and the city of Ur birth of the father of the prophets Abraham - peace be upon him - represented great support for Iraq, and special support for Christians in it, and we look forward to investing it religiously, politically and culturally.”
CBI Update: Just a note:
including $39,600,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
5-3-2021 Intel Guru MarkZ [via PDK] [IS IRAQ KICKING THE CAN?...] it does not appear the can has been kicked…even with missiles being lobbed from Iran to Iraq and our bases there…it does not appear anything is being kicked.
5-3-2021 Newshound Guru MilitiaMan ...[Saturday] was to be a day where the Iraq Trade Bank was to start the Interconnectivity of digital Dinar and the Dollar. If that connectivity has in fact been put in place electronically, then it would seem that the ISX will need the same ability electronically. If they are opening to the world and they are imo, the borders crossings are already waiting and ready...It surely has been a remarkable amount of progress to get this far. I agree with many there is no turning back.
5-3-2021 Intel Guru MarkZ [via PDK] I am hearing there was some pretty decent progress over the weekend...I reached out to banking contacts especially in the Mideast…I had heard there was some transfer issues moving large blocks of money over the weekend…that is what I am being told is our delay. …I am hearing a lot of chatter about this week guys. Keep in mind that we don’t know the timing…but there sure is a lot of good static right now. Hopefully by tomorrow morning I will have a much better idea of where we are at.
5-3-2021 Intel Guru BobTheTaxMan Question: "Should I take my IQD to a foreign country so I can avoid the Biden Tax?" There are two countries in the world that if you attempt to negate or move your finances out of that country...can stick you with 50% of what you own. One of them is [United States of] America and the other one is North Korea. When you're an American citizen you're playing the game. You've got a blessing for being an American citizen but that blessing has a cost to it. And the cost is taxes... [NOTE: At the appropriate time for you, consult your financial and tax professionals about your unique financial situation.]
5-3-2021 Newshound Guru Breitling I think people associate time, they're like 'Oh my god I've been in this thing a certain amount of time so this isn't good.' That's completely untrue. I told you guys form the beginning this is not a get rich quick scheme. This is a country and countries move at a slower pace. There's been a couple windows of opportunity for them to revalue. I don't know maybe that gets into people's heads like, 'That's negative.' No! It's all positive.
5-3-2021 Newshound Guru MilitiaMan The list of things accomplished now is powerful. E-Government is in place. E-Commerce is in place. Electronic borders for fees, taxes, customs, etc., are all set and ready to go. E-Payments and settlements...done...ready to go...Digital Dinar and Dollar were to have Interconnectivity yesterday with and through the Iraq Trade Bank...I can presume that is done...Financial inclusion is done.. The ITB also has the full support of the USA, as does the Central Bank of Iraq. So we can see that by all those items, there is not much left to do other than adjust the exchange rate to meet international standards...We are in a very powerful place and no one should be discouraged. I sure am not!
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