WOTS MON JUN 7 21 The Iraqi street will explode in the face of the government if the dollar continues to rise
These are the articles I discussed on the My FX Buddies Podcast
Parliamentary Economy: The street will explode in the face of the government if the dollar continues to rise
The Parliamentary Committee on Economy and Investment warned of the explosion of the street in the face of the government of Prime Minister Mustafa Al-Kazemi in the event that the dollar price continues to rise, noting that the Iraqi market has been witnessing great confusion for days due to the instability of the dollar exchange rate.
Committee member Salem Al-Tufaili said in an interview seen by / the information /, that "the main reason for the continued rise in the dollar exchange rate is the lack of real government control over the Iraqi market, as well as the work of private banks and exchanges, which manipulate prices according to their interest without any oversight or accountability."
Al-Tufaili added that “the rise in the exchange rate of the dollar, as well as foodstuffs and other materials, is behind some greedy traders, bank owners and money transfer companies, among the influential figures, who have relations with some parties and political figures, who control the market as they wish according to government silence.”
He pointed out that “the Iraqi market has been witnessing great confusion for days due to the instability of the dollar exchange rate and the increase in the prices of materials again, and this matter requires the intervention of the competent government agencies, to control the situation, otherwise the Iraqi street will explode again in the face of the government and all the political class, Because of the difficult economic conditions he is going through.”
Representatives are talking about parasitic banks that win about 300 billion dinars per month in the currency auction
The head of the National Approach Bloc, Ammar Tohme, announced on Monday, June 7, 2021, that "parasitic" banks had acquired profits of more than 300 billion dinars per month in the currency sale auction, while a member of the Parliamentary Finance Committee, Muhammad Ibrahim, considered, on Monday, a high The price of the dollar is a reflection of the government's failure and an indication of the manipulation of
Ibrahim said in a press statement, "The rise in the exchange rate of the dollar in Baghdad proves the failure and failure of the government to control the market," noting that "the matter indicates the existence of manipulation in the exchange rates and foodstuffs and others by the influential people in control of the market, whether from traders or Those with political and partisan influence,” adding that “the rise in the dollar exchange rate means the continued rise of food and non-food items, and this matter will generate great popular anger, amid high unemployment and poverty,” and that the .government is urgently required to put in place mechanisms and plans to control the market to prevent manipulate the powerful
The controversy is still escalating about the repercussions of the exchange rate of the dollar against the dinar, for different political forces to exchange different accusations, between searching for special interests, or linking positions with regional forces, while the Iraqi citizen does not matter, as much as .providing mechanisms and conditions that facilitate his daily life, and provide He has a livelihood
On Saturday, May 22, 2021, Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, revealed that 50 trillion dinars are outside the .control of the banking system
Tohme said in a statement, "With the passage of time, the failure and harm of the dollar exchange rate decision and its severe repercussions on the stability of the market and millions of Iraqis are proven, and there is no one who benefits from this decision except the owners of parasitic banks and ".their partners from the influential politicians
He added that all the justifications put forward by the defenders of raising the exchange rate proved to be false and unrealistic, especially with the rise in the price of oil globally and with negligence and failure in controlling outlets and not restricting the import of materials similar to the local product and not taking even a simple step in providing the structure to support the national industry that they mentioned as an explanation Calling for their unjust ".decision to raise the price of the dollar
Tohme continued: "On the contrary, the Central Bank returned to sell daily more than 200 million dollars, without those sums, nor the parasitic banks that taking possession of it, contributing to huge profits through speculation in any economic or development activity that justifies the monopoly of these banks that are linked to prohibited utilitarian relations with influential politicians. Greed and greed imprinted on their hearts, and they became a source .of evil and great harm to the tested people
And between: With a simple account from the sale of the Central Bank, what the owners of parasitic banks backed by oppressive and influential politicians in the political scene earn daily ten billion dinars, and an amount of 300 billion dinars per month, and all this is a drain on the hard currency . reserves acquired by opportunists and the tested people bear a tax to satisfy the whims of selfish greedy
Tohme asked: "Has the world seen or heard in any part of it that corrupt merchants, in partnership with politicians who followed the approach of Qarun, raise the exchange rate of the currency, so that the public will bear the harm and suffering, and the oppressors and thieves reap these huge illegal "?!!profits
Al-Ghazi to the Canadian Ambassador: We aspire for foreign companies to have a prominent role in investment
The Secretary-General of the Council of Ministers, Hamid Naim Al-Ghazi, confirmed today, Monday, that the Iraqi government aspires for foreign companies to have a prominent role in investing, while Canadian Ambassador Orlick Shannon indicated to continue providing support to the Stabilization Group in the liberated areas. The General Secretariat of the Council of Ministers said in a statement that "the Secretary-General of the Council of Ministers, Hamid Naim Al-Ghazi, received the Canadian Ambassador in Baghdad, Orlick Shannon, and a number of representatives of the coalition of companies (Iraqi - Canadian - Finnish)." The Secretary-General of the Council of Ministers praised "the Canadian government's role and contribution to restoring the stabilization effort in the liberated areas, while working with the Stabilization Team, and its continued support through the establishment of a number of projects in a number of areas inside Iraq." He emphasized that
Representatives are talking about parasitic banks that win about 300 billion dinars per month in the currency auction
The head of the National Approach Bloc, Ammar Tohme, announced on Monday, June 7, 2021, that "parasitic" banks had acquired profits of more than 300 billion dinars per month in the currency sale auction, while a member of the Parliamentary Finance Committee, Muhammad Ibrahim, considered, on Monday, a high The price of the dollar is a reflection of the government's failure and an indication of the manipulation of
Ibrahim said in a press statement, "The rise in the exchange rate of the dollar in Baghdad proves the failure and failure of the government to control the market," noting that "the matter indicates the existence of manipulation in the exchange rates and foodstuffs and others by the influential people in control of the market, whether from traders or Those with political and partisan influence,” adding that “the rise in the dollar exchange rate means the continued rise of food and non-food items, and this matter will generate great popular anger, amid high unemployment and poverty,” and that the .government is urgently required to put in place mechanisms and plans to control the market to prevent manipulate the powerful
The controversy is still escalating about the repercussions of the exchange rate of the dollar against the dinar, for different political forces to exchange different accusations, between searching for special interests, or linking positions with regional forces, while the Iraqi citizen does not matter, as much as .providing mechanisms and conditions that facilitate his daily life, and provide He has a livelihood
On Saturday, May 22, 2021, Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, revealed that 50 trillion dinars are outside the .control of the banking system
Tohme said in a statement, "With the passage of time, the failure and harm of the dollar exchange rate decision and its severe repercussions on the stability of the market and millions of Iraqis are proven, and there is no one who benefits from this decision except the owners of parasitic banks and ".their partners from the influential politicians
He added that all the justifications put forward by the defenders of raising the exchange rate proved to be false and unrealistic, especially with the rise in the price of oil globally and with negligence and failure in controlling outlets and not restricting the import of materials similar to the local product and not taking even a simple step in providing the structure to support the national industry that they mentioned as an explanation Calling for their unjust ".decision to raise the price of the dollar
Tohme continued: "On the contrary, the Central Bank returned to sell daily more than 200 million dollars, without those sums, nor the parasitic banks that taking possession of it, contributing to huge profits through speculation in any economic or development activity that justifies the monopoly of these banks that are linked to prohibited utilitarian relations with influential politicians. Greed and greed imprinted on their hearts, and they became a source .of evil and great harm to the tested people
And between: With a simple account from the sale of the Central Bank, what the owners of parasitic banks backed by oppressive and influential politicians in the political scene earn daily ten billion dinars, and an amount of 300 billion dinars per month, and all this is a drain on the hard currency . reserves acquired by opportunists and the tested people bear a tax to satisfy the whims of selfish greedy
Tohme asked: "Has the world seen or heard in any part of it that corrupt merchants, in partnership with politicians who followed the approach of Qarun, raise the exchange rate of the currency, so that the public will bear the harm and suffering, and the oppressors and thieves reap these huge illegal "?!!profits
Al-Ghazi to the Canadian Ambassador: We aspire for foreign companies to have a prominent role in investment
The Secretary-General of the Council of Ministers, Hamid Naim Al-Ghazi, confirmed today, Monday, that the Iraqi government aspires for foreign companies to have a prominent role in investing, while Canadian Ambassador Orlick Shannon indicated to continue providing support to the Stabilization Group in the liberated areas. The General Secretariat of the Council of Ministers said in a statement that "the Secretary-General of the Council of Ministers, Hamid Naim Al-Ghazi, received the Canadian Ambassador in Baghdad, Orlick Shannon, and a number of representatives of the coalition of companies (Iraqi - Canadian - Finnish)." The Secretary-General of the Council of Ministers praised "the Canadian government's role and contribution to restoring the stabilization effort in the liberated areas, while working with the Stabilization Team, and its continued support through the establishment of a number of projects in a number of areas inside Iraq." He emphasized that
The Central Bank sells the dollar at the official price for several categories
The Central Bank of Iraq announced, on Monday, that it provides facilities to citizens wishing to obtain foreign currency for the purposes of travel, study and treatment abroad, by selling it at the official price.
And the bank said in a statement that “People” received a copy of it (June 7, 2021), that “for the purpose of facilitating the procedures for citizens to obtain foreign currency (dollars) for the purposes of travel, study and treatment abroad, the Central Bank of Iraq announces that all their requests to buy dollars for the above purposes will be met.” .
He added, "The process is carried out by feeding electronic payment cards (MasterCard and Visa Card) at the official price set by the Central Bank of Iraq."
The purpose of the visit of the delegation of the Kurdistan Region to Baghdad
The negotiating delegation of the Kurdistan Regional Government is scheduled to visit Baghdad this afternoon to meet with the Ministry of Finance in the federal government.
Khaled Shwani, a member of the negotiating delegation of the Kurdistan Regional Government, said that the delegation of the region will visit Baghdad this afternoon, Monday, to meet with the Federal Ministry of Finance.
He added that the aim of the visit is to determine the mechanism for implementing the agreement between Baghdad and the region and efforts to send the share of the Kurdistan Region according to the budget law.
And the budget law has already been approved since May of this year, but the share of the Kurdistan region has not been sent so far, according to,.
KRG SAYS WILL SEND OIL, NON-OIL INCOME TO BAGHDAD THIS WEEK
Kurdistan Regional Government (KRG) Spokesperson Jotiar Adil said on Sunday (June 6) that the KRG plans to send oil and a portion of its non-oil income to Baghdad this week, potentially resolving an impasse over implementation of the federal budget.
Adil said during a press conference that he hopes Baghdad will reciprocate and send budget transfers to the Kurdistan Region in the near future.
Regarding public sector workers’ salaries, he said, the KRG will pay workers once every month under the framework of the reform law, but did not address longstanding cuts.
Under the 2021 Federal Budget Law, which passed on March 31, the KRG is supposed to receive 9.5 trillion Iraqi dinars ($6.5 billion) from the budget, which will be disbursed in monthly increments, in return for submitting 250,000 barrels of crude oil per day to Iraq's oil marketer SOMO for export and a portion of the income derived from customs duties at international border crossings with Iran and Turkey.
Those budget transfers would theoretically enable the KRG to pay full public sector salaries. For more than a year it has either not paid public servants or cut their salaries by nearly a quarter, leading to widespread frustration among the Region’s middle class.
The value of the Iraqi dinar continues to decline .. government steps to save it and expectations of high market prices
The exchange rates of the dollar against the Iraqi dinar rose, on Sunday, to record levels, reaching 1525 dinars against the dollar in the local markets, despite the government's assurances that it would continue to follow the exchange rates to maintain the price of the dollar.
Today, the exchange shops traded the price of the dollar at $1525 per dollar, in a new decline in the value of the Iraqi dinar, a price the dollar has not reached for nearly 14 years, while government sources talked about future steps with the aim of controlling the price of the local market.
A government official said in an interview with "Mawazine News" that "the rise of the dollar is a result of market speculation and rumors of a new price rise, and this type made the citizen in a state of confusion because of hoarding the dollar in the homes, in addition to the transfer of money from the dinar to the dollar by many."
And another official on the government's measures adds, "The central bank will follow a plan in the coming days, to suspend the license of money exchange shops that manipulate the price, in addition to forming price control committees."
He pointed out, "The government's policy is clear, which is to maintain the price of the dollar, and what is happening is not a dollar shortage crisis, but rather speculation in the market only."
The prices of consumables have risen in the Iraqi market, for example, mobile recharge cards, some stores, have raised their price. Dealers are also talking about the imminent rise in consumer prices, and this will reduce the purchasing value of citizens.
Marwan Jassem, a food trader in Jamila, told Mawazine News, "The market price is linked to the dollar, and today there is an inflation of the dollar issue, so we find that some traders anticipate any government step and raise the price of their materials."
Finance holds a new meeting to discuss the budget for the next three years
The Ministry of Finance held, on Monday, its tenth meeting of the committee for preparing the federal general budget strategy for the medium term 2022-2024.
The ministry stated in a statement that Mawazine News received a copy of it, that "the committee discussed the strategic vision for the education sector for the medium term for the years (2022-2024) by the Ministry of Education."
Finance Minister Ali Allawi, who chaired the meeting, said, "The interest in the education sectors of all kinds and levels, and the provision of a supportive and stimulating environment for upgrading the educational level, will be among the priorities of the future budget strategy."
Allawi stressed the need to pay attention to the education sectors and to discuss the challenges and difficulties facing the implementation of the projects of the two sectors and ways to address them within the available financial resources and find solutions to address the delay in vital projects in the educational sector.
The minister added that the long-term goals will continue to be linked with future budgets to provide tools and procedures for preparation for financial departments and to prioritize activities to achieve the strategic objectives of the projects in proportion to the country's financial revenues.
Mazhar Muhammad Salih: The rise in oil prices .. additional income to cover the deficit and compensation for borrowing
Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed that the rise in oil prices is an additional revenue to cover the deficit and compensate for internal and external borrowing.
He told the National Iraqi News Agency ( NINA ): The differences in the prices of Iraqi sourced oil, whose prices exceed the price specified in the federal general budget of 45 dollars per barrel, is considered an additional cash income.
Saleh added that: this additional revenue flows into the balances of the federal general budget to fill the deficit gap in the annual budget, estimated at about 29 trillion dinars.
He continued: This additional income is considered a compensation for the planned borrowing in whole or in part and a substitute for any debts, whether internal or external.
Saleh pointed out that: indicators up to the moment show that these differences will cover, if oil prices continue with this improvement, about 80% of the deficit gap.
The price of Basra oil recorded a noticeable increase in the recent period, exceeding $70 per barrel.
Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed that the rise in oil prices is an additional revenue to cover the deficit and compensate for internal and external borrowing.
He told the National Iraqi News Agency ( NINA ): The differences in the prices of Iraqi sourced oil, whose prices exceed the price specified in the federal general budget of 45 dollars per barrel, is considered an additional cash income.
Saleh added that: this additional revenue flows into the balances of the federal general budget to fill the deficit gap in the annual budget, estimated at about 29 trillion dinars.
He continued: This additional income is considered a compensation for the planned borrowing in whole or in part and a substitute for any debts, whether internal or external.
Saleh pointed out that: indicators up to the moment show that these differences will cover, if oil prices continue with this improvement, about 80% of the deficit gap.
The price of Basra oil recorded a noticeable increase in the recent period, exceeding $70 per barrel.
Al-Rafidain issues new instructions to citizens wishing to open accounts
Today, Saturday, Al-Rafidain Bank issued new instructions to facilitate procedures for citizens wishing to open current and savings accounts to deposit their money in the bank.
And the bank’s media office said in a statement that “the bank has canceled the requirement to see identification for customers who wish to open current accounts, with the aim of attracting the largest number of customers, with a commitment to applying the principle of knowing your customer and taking due diligence measures.”
According to the statement, the bank reiterated its "obligation to submit one supporting document when opening savings and current accounts."
He explained that "the unified card dispenses with the rest of the documents, and there is no need to wait for the validity of its issuance, while adopting the identity of the civil status, passport, housing card, or housing support for those who were not issued a unified card
Today, Saturday, Al-Rafidain Bank issued new instructions to facilitate procedures for citizens wishing to open current and savings accounts to deposit their money in the bank.
And the bank’s media office said in a statement that “the bank has canceled the requirement to see identification for customers who wish to open current accounts, with the aim of attracting the largest number of customers, with a commitment to applying the principle of knowing your customer and taking due diligence measures.”
According to the statement, the bank reiterated its "obligation to submit one supporting document when opening savings and current accounts."
He explained that "the unified card dispenses with the rest of the documents, and there is no need to wait for the validity of its issuance, while adopting the identity of the civil status, passport, housing card, or housing support for those who were not issued a unified card
Al-Rafidain issues new instructions to citizens wishing to open accounts
Today, Saturday, Al-Rafidain Bank issued new instructions to facilitate procedures for citizens wishing to open current and savings accounts to deposit their money in the bank.
And the bank’s media office said in a statement that “the bank has canceled the requirement to see identification for customers who wish to open current accounts, with the aim of attracting the largest number of customers, with a commitment to applying the principle of knowing your customer and taking due diligence measures.”
According to the statement, the bank reiterated its "obligation to submit one supporting document when opening savings and current accounts."
He explained that "the unified card dispenses with the rest of the documents, and there is no need to wait for the validity of its issuance, while adopting the identity of the civil status, passport, housing card, or housing support for those who were not issued a unified card
Below here is the daily WOTS "Word on the Street" report:
The exchange rates of the dollar in the local markets for Monday, (June 7, 2021), according to the monitoring of specialists.
Baghdad - the stock exchange
149,900
....
Exchange rate (approximate)
149,250
150,250
———————————-——————
Mosul / Bursa
150,100
———————————
Erbil / Bursa
150,000
———————————
Basra / Bursa
149,850
Favorite Currencies Forex Quotes
Symbol Bid Ask High Low Open Change Time USD/IQD 
1427.4000 
1476.7000 1457.3000 1456.9000 1457.3000 
0.0000 11:58 USD/VND 23000.0000 23010.0000 23044.0900 23042.6400 23042.6400 0.7100 22:47 USD/CNY 6.3961 6.3981 6.4014 6.3932 6.3942 0.0020 05:03 USD/KWD 0.3004 0.3014 0.3007 0.3005 0.3007 -0.0002 04:42 GBP/USD 1.4145 1.4145 1.4170 1.4111 1.4151 -0.0009 05:03 USD/IRR 42000.0000 42210.0000 42097.5000 42097.5000 42097.5000 0.0000 00:00 USD/IDR 14267.0000 14267.0000 14281.0000 14245.0000 14250.0000 21.0000 05:02
Things in the News:
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD | 1427.4000 | 1476.7000 | 1457.3000 | 1456.9000 | 1457.3000 | 0.0000 | 11:58 |
| USD/VND | 23000.0000 | 23010.0000 | 23044.0900 | 23042.6400 | 23042.6400 | 0.7100 | 22:47 |
| USD/CNY | 6.3961 | 6.3981 | 6.4014 | 6.3932 | 6.3942 | 0.0020 | 05:03 |
| USD/KWD | 0.3004 | 0.3014 | 0.3007 | 0.3005 | 0.3007 | -0.0002 | 04:42 |
| GBP/USD | 1.4145 | 1.4145 | 1.4170 | 1.4111 | 1.4151 | -0.0009 | 05:03 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 0.0000 | 00:00 |
| USD/IDR | 14267.0000 | 14267.0000 | 14281.0000 | 14245.0000 | 14250.0000 | 21.0000 | 05:02 |
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Iraqi Articles:
Optimism pervades global markets despite a slight drop in oil prices
Oil prices fell after hitting multi-year highs on Monday, as investors await the outcome of this week's ta8lks between Iran and world powers over a nuclear deal that is expected to boost crude supplies.
Brent crude futures for August fell 36 cents, or 0.50%, to $71.53 a barrel by 05:25 GMT, after earlier hitting $72.27, its highest level since May 2019. West Texas Intermediate crude touched The US dollar for July reached $70 for the first time since October 2018, but fell to $69.34 a barrel, down 27 cents, or 0.39%.
Analysts expect global oil demand to exceed supplies in the second half despite the gradual easing of supply cuts by OPEC+ producers.
The slowdown in talks between Iran and world powers over reviving the 2015 nuclear deal and a drop in the number of US drilling rigs and oil prices also support the demand.
Iran and world powers will enter a fifth round of talks on June 10 in Vienna that may include Washington's lifting of economic sanctions on Iran's oil exports.
Analysts expect Iran, which holds its presidential election on June 18, to increase its production by 500,000 to 1 million barrels per day once sanctions are lifted.
Finance: Disbursing the dues of farmers who market wheat and rye crops
The Ministry of Finance announced, on Monday, the payment of the dues of farmers who market the wheat and rye crops for the year 2021.
A statement by the ministry, received by Al-Iqtisad News, said that the Accounting Department began today, Monday, to release the dues of farmers marketing the wheat and rye crops for the current year 2021.
CBI Update: Just a note:
Oil prices fell after hitting multi-year highs on Monday, as investors await the outcome of this week's ta8lks between Iran and world powers over a nuclear deal that is expected to boost crude supplies.
Brent crude futures for August fell 36 cents, or 0.50%, to $71.53 a barrel by 05:25 GMT, after earlier hitting $72.27, its highest level since May 2019. West Texas Intermediate crude touched The US dollar for July reached $70 for the first time since October 2018, but fell to $69.34 a barrel, down 27 cents, or 0.39%.
Analysts expect global oil demand to exceed supplies in the second half despite the gradual easing of supply cuts by OPEC+ producers.
The slowdown in talks between Iran and world powers over reviving the 2015 nuclear deal and a drop in the number of US drilling rigs and oil prices also support the demand.
Iran and world powers will enter a fifth round of talks on June 10 in Vienna that may include Washington's lifting of economic sanctions on Iran's oil exports.
Analysts expect Iran, which holds its presidential election on June 18, to increase its production by 500,000 to 1 million barrels per day once sanctions are lifted.
Finance: Disbursing the dues of farmers who market wheat and rye crops
The Ministry of Finance announced, on Monday, the payment of the dues of farmers who market the wheat and rye crops for the year 2021.
A statement by the ministry, received by Al-Iqtisad News, said that the Accounting Department began today, Monday, to release the dues of farmers marketing the wheat and rye crops for the current year 2021.
CBI Update: Just a note:
Dollar purchase orders
For the purpose of facilitating the procedures for citizens to obtain foreign currency ( dollars ) for the purposes of travel, study and treatment abroad The Central Bank of Iraq announces that all their requests to buy dollars for the above purposes are met by feeding electronic payment cards ( Master Card and Visa Card ) at the official price set by the Central Bank of Iraq. Central Bank of IraqJune 7, 2021
including $42,850,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
6-6-2021 Newshound/Intel Guru RVAlready Question: [...when do you think the RV will happen?] I think it will happen when everyone thinks it is safe to do so. I could hope for next week, but we will have to see.
6-6-2021 Newshound Guru Kaperoni I have stated it numerous times Iraq will never significantly overnight RV their currency that is not how monetary policy works. Only with the growth of the economy can the dinar go up in value. Iraq has lots of work to do. They need to pass laws encourage foreign investment and create a thriving private sector. Only then will the Central Bank float the dinar and allow it to gradually increase overtime. There is no overnight lottery ticket.
6-6-2021 Intel Guru Holly Sunday RV News: Yesterday was quiet, however things are still getting done. Whales are still be processed and paid even though it is the weekend it still happens. There is a push to complete the bonds this week. Once this is done the RV side of things will begin. It’s frustrating and a very complicated process but progress is being made. This is a transition not a transaction! Never, ever give up!
6-6-2021 Newshound/Intel Guru RVAlready Question: [Seems that all of these countries are talk about their future digitized currency. That’s all great but we’re still holding onto Fiat currencies from several countries.. when are they planning on having us send these paper notes to them?] I think any country that terminates a currency has to give you a couple of years to cash out. Most countries will probably just cut back on printed currency, and let attrition happen naturally.
6-6-2021 Intel Guru Frank26 the World Bank knows that both of your reforms economic and monetary (but monetary being first) are tied together and the Kurds were the key for your budget that will launch these reforms. They are explaining that the only way your economic reforms will prosper is when and only when the CBI raises the value of your currency through your exchange rate. The World Bank is telling the world it is illogical for Iraq to have a low rate for their currency right now...they need to do something about the exchange rate because...the poverty rate of Iraqi citizens is horrible. They tell the CBI/GOI you're a sovereign country and you can now lift the value...
6-6-2021 Newshound Guru MilitiaMan My view, is with the massive amount of data we have been showing in articles with links to support the view, is that they are ready and are heavily pressured to go to a market economy... my view is I expect a strong ( like never seen before, as noted on Iraq TV.) international rate to be gamed off the devaluation with the help of the local bankers and traders who are fully aware of what is going to happen next. We have data that supports them saying so...Let’s see what they do next!
6-6-2021 Newshound/Intel Guru Mnt Goat Article: "ECONOMIST: THE GOVERNMENT’S JUSTIFICATIONS FOR RAISING THE DOLLAR EXCHANGE RATE ARE FLIMSY" Quote: "...in a statement to the “Information” agency that “the currency auction did not decrease in its sales"
...the currency auctions have ended....Not according to this article.
Catnip's Corner:
************ARTICLE 1 (from PM Kadhimi's website; posted only on Arabic side, not on English side)
Prime Minister Mustafa Al-Kadhimi receives the Danish Foreign Minister
The Prime Minister, Mustafa Al-Kazemi, received the Minister of Foreign Affairs of Denmark, Mr. Jeppe Kofod and his accompanying delegation. During the meeting, they discussed the development of bilateral relations between the two countries, and regional and international situations of common interest.
They also discussed the development of joint cooperation between Baghdad and Copenhagen in various economic fields, in the field of war against ISIS, training and institutional security construction, as well as cooperation in the field of investment in the industrial, agricultural and commercial fields, and in the field of energy and clean energy in particular, as well as health cooperation in Facing the Corona pandemic.
Mr. Al-Kazemi praised the Danish government's decision to reopen its embassy in Baghdad, which emphasized the seriousness of the relationship between the two countries.
His Excellency indicated that Iraq attaches great importance to the relationship with Denmark and the European Union in general, and seeks to develop it within the framework of Iraq's foreign policy and the positive and constructive approach adopted by this government, stressing the aspiration to the Danish and European role in general in supporting the upcoming electoral process with observers according to Iraqi needs.
For his part, the Danish Foreign Minister, Mr. Jeppe Kofod, expressed his thanks to the Iraqi government and people and their role in the war against ISIS terrorist gangs, and stressed his government's commitment to supporting Iraq and working alongside it in the fight against terrorism.
And Mr. Kofod indicated that Denmark is proud of receiving the leadership of the NATO mission in Iraq, and looks forward to playing a role to invest that to strengthen mechanisms to support the Iraqi security forces in the areas of training, advice and institutional capacity building. He also affirmed Denmark's readiness to provide assistance related to the upcoming elections, as well as support the Iraqi government's reform trends in the economic field, and mobilize international support for it.
He also praised the Iraqi role in the regional arena, and the increasing effectiveness of this role recently, in a way that enhances the security and stability of the region.
Media Office of the Prime Minister6 - June - 2021
*************ARTICLE 2
6-6-2020 around 11:15 am EasternBeside, investment cooperation in industrial, agricultural and commercial fields. As well as health cooperation against Corona pandemic.
PM @MAKadhimi, meets the Minister of Foreign Affairs of Denmark, @JeppeKofod. They discussed during the meeting the developing bilateral relations in the war against Daesh, training and security construction.*************ARTICLE 3
A new development.. Parliamentary legal talks about postponing the elections due to an appeal2021-06-06 12:36
Shafaq News/ The Parliamentary Legal Committee revealed, on Sunday, that the elections will be postponed from the scheduled date due to some political forces challenging the election law, which is scheduled to take place in October of this year.
Committee member Bahar Mahmoud told Shafaq News Agency, "Some political forces have submitted an appeal to the Federal Court with some articles and paragraphs of the electoral law, and this will lead to the postponement of the parliamentary elections."
And she indicated that "the Federal Court must consider the appeal submitted to the electoral law, and its decision to respond or decide will be according to the form of the appeal and the objection of political forces to the articles of the law."
It is noteworthy that a number of political forces and candidates to run in the upcoming elections expressed their dissatisfaction with the election law approved by the House of Representatives, especially the electoral districts clause, which some believe serves only political blocs.
*************ARTICLE 4
The Finance Committee comments on sending two important files to Baghdad05:25 - 06/06/2021Baghdad - Mawazine News
On Sunday, the Parliamentary Finance Committee commented on sending two important files to Baghdad.
Committee member Shirwan Mirza said that "sending the two files is a good positive step to resolve the outstanding problems between the two sides."
Mirza added, "Qubad Talabani, Vice President of the Kurdistan Regional Government, made good strides in talks with officials in Baghdad to ensure the Kurdistan Region's share in the budget, after a series of marathon negotiations that spanned for more than a year and a half."
He continued, "I am not aware of the date of the new visit of the delegation of the Kurdistan Regional Government to the capital, Baghdad, to discuss the entitlements of the Kurdistan region in the financial budget for 2021."
And the Kurdistan Regional Government announced today, that it will send the file of Kurdistan Region's oil expenditures and non-oil revenues to Baghdad during this time
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Report: Iraq's economy may collapse in front of transformations06 Jun 2021
Baghdad-ALSharqiya, June 6: An international report warned four countries, including Iraq, that they will be among the most exposed to the risks of declining revenues as a result of the transition to clean energy during the current decade.
The energy research company Rystad Energy said that the revenues of oil and gas producing countries will be dealt a severe blow with the process of energy transition imposed by the climate change crisis, amid warnings of potential risks unless these countries accelerate to diversify their economies, indicating that the fuel-dependent economies represent nearly a third of the world's population. It is responsible for one fifth of greenhouse gas emissions. The report pointed out that Algeria, Iraq, Kuwait and Libya are the most exposed to the risks of declining revenues as a result of the energy transition, with the fact that half of government revenues from this sector are at risk.
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6-6-2021 Newshound Guru Kaperoni I have stated it numerous times Iraq will never significantly overnight RV their currency that is not how monetary policy works. Only with the growth of the economy can the dinar go up in value. Iraq has lots of work to do. They need to pass laws encourage foreign investment and create a thriving private sector. Only then will the Central Bank float the dinar and allow it to gradually increase overtime. There is no overnight lottery ticket.
6-6-2021 Intel Guru Holly Sunday RV News: Yesterday was quiet, however things are still getting done. Whales are still be processed and paid even though it is the weekend it still happens. There is a push to complete the bonds this week. Once this is done the RV side of things will begin. It’s frustrating and a very complicated process but progress is being made. This is a transition not a transaction! Never, ever give up!
6-6-2021 Newshound/Intel Guru RVAlready Question: [Seems that all of these countries are talk about their future digitized currency. That’s all great but we’re still holding onto Fiat currencies from several countries.. when are they planning on having us send these paper notes to them?] I think any country that terminates a currency has to give you a couple of years to cash out. Most countries will probably just cut back on printed currency, and let attrition happen naturally.
6-6-2021 Intel Guru Frank26 the World Bank knows that both of your reforms economic and monetary (but monetary being first) are tied together and the Kurds were the key for your budget that will launch these reforms. They are explaining that the only way your economic reforms will prosper is when and only when the CBI raises the value of your currency through your exchange rate. The World Bank is telling the world it is illogical for Iraq to have a low rate for their currency right now...they need to do something about the exchange rate because...the poverty rate of Iraqi citizens is horrible. They tell the CBI/GOI you're a sovereign country and you can now lift the value...
6-6-2021 Newshound Guru MilitiaMan My view, is with the massive amount of data we have been showing in articles with links to support the view, is that they are ready and are heavily pressured to go to a market economy... my view is I expect a strong ( like never seen before, as noted on Iraq TV.) international rate to be gamed off the devaluation with the help of the local bankers and traders who are fully aware of what is going to happen next. We have data that supports them saying so...Let’s see what they do next!
6-6-2021 Newshound/Intel Guru Mnt Goat Article: "ECONOMIST: THE GOVERNMENT’S JUSTIFICATIONS FOR RAISING THE DOLLAR EXCHANGE RATE ARE FLIMSY" Quote: "...in a statement to the “Information” agency that “the currency auction did not decrease in its sales"
...the currency auctions have ended....Not according to this article.
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