WOTS THU JUL 22 21 With the end of the fiscal year approaching, question marks about the reasons for not activating the budget
No My FX Buddies podcast today
The price of the dollar against the Iraqi dinar, the
prices of the exchange offices:
the selling price of the dollar ⬅️ 148,500
The purchase price of the dollar ⬅️ 147,750
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1431.5000 |  1482.4000 | 1457.0000 | 1456.9000 | 1456.9000 | -0.3000 | 11:11 |
| USD/VND | 23010.0000 | 23014.0000 | 23024.4100 | 23021.1200 | 23024.4100 | -3.6300 | 22:58 |
| USD/CNY | 6.4658 | 6.4678 | 6.4678 | 6.4623 | 6.4661 | -0.0009 | 05:20 |
| USD/KWD | 0.3003 | 0.3013 | 0.3008 | 0.3006 | 0.3008 | -0.0002 | 05:03 |
| GBP/USD |  1.3759 | 1.3759 | 1.3760 | 1.3690 | 1.3715 | 0.0043 | 05:23 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 0.0000 | 00:00 |
| USD/IDR | 14482.0000 | 14482.0000 | 14510.0000 | 14472.0000 | 14473.0000 | 10.0000 | 05:21 |
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With the end of the fiscal year approaching, question marks about the reasons for not activating the budget
The delay of the federal government in activating the articles of the federal budget for the fiscal year 2021 until now, despite the passage of many months since voting on it, has sparked widespread controversy within the political corridors, at a time when a parliamentarian considered the weak oversight performance of Parliament is one of the reasons for the government’s reluctance to perform its duty in many files Including the activation of the budget items, another saw that the appeal submitted by the government against some articles of the budget had caused the suspension of the activation of those articles exclusively pending the outcome of the appeal by the Federal Court, but in general, the appeal does not stop the implementation of the original budget in general.
Member of the Parliamentary Finance Committee, Muhammad Al-Shabki, stressed that all budget articles, even the contested ones with the Federal Court, are valid.
Al-Shabki said in an interview with Alsumaria News, "The budget articles that were challenged by the government at the Federal Court are still valid and obligatory until the outcome of the appeal is decided and the final decision is issued by the court to invalidate or confirm the article."
Al-Shabki added, "What proves the activation of the articles in the budget is all, the court's rejection of the state decision demanded by the government regarding the contested articles, which means that those articles must be applied, and they are valid and must be implemented by Ministry of Finance and the ministries concerned with this matter.
A member of the Parliamentary Finance Committee, Sherwan Mirza, confirmed that activating the budget items and releasing allocations for projects after the House of Representatives voted on them, is within the competence of the executive authority, especially Ministry of Finance.
In an interview with Alsumaria News, Mirza said, "The implementation of the provisions of the federal budget after the parliament's vote on them is within the power of the executive authority, specifically Ministry of Finance, which has actually begun to activate the items related to the operational side," noting that "the investment and projects side had ambitions to be in advanced stages in all governorates and to serve the citizens, but there are many factors that affected the achievement of this goal
And Mirza added, "The appeal Submitted by the government on some articles of the budget caused the suspension of the activation of those articles pending the outcome of the appeal by the Federal Court, but in general, the appeal does not stop the implementation of the original budget, given that there is no judicial decision to suspend the implementation of the budget until the appeals are decided,” explaining that “ The Minister of Finance has previously talked about the fact that the funds obtained from oil revenues and non-oil resources are sufficient to cover the operational aspects.
He pointed out that "the government can launch projects by covering their allocations by borrowing from the central bank to accelerate the activation of these projects and repay those loans from oil revenues successively to ensure that it does not affect the central bank's reserves," stressing that "we do not have a full release on the exact reasons for not having Launching project allocations until this moment, as it is the competence of the executive authority, but we are following up on this matter with the relevant authorities to find quick solutions to this matter
For his part, a member of the House of Representatives indicatedQusay AbbasAl-Shabki pointed out that the weakness of parliamentary oversight over the government's performance was one of the reasons for its failure in many files, including the file of activating the federal budget.
Al-Shabki said in an interview with Alsumaria News, “The issue of the government’s non-activation of the budget articles, which has been legislated for a long time within the parliament, is a strange matter. The government to activate its provisions as soon as possible and to explain the reasons for the delay until the moment.
Al-Shabki added, "The fiscal year has only a few months left, and therefore the government is required to transfer financial allocations to the provinces to complete the stalled projects that are under construction," stressing that "this clear government failure was an inevitable result of Parliament's failure to perform its oversight duty on the The executive authority, which we must acknowledge in front of the masses."
Abdul Mahdi's Foreign Minister comments on Al-Kazemi's upcoming visit to Washington
On Thursday, former Foreign Minister Muhammad Ali Al-Hakim stressed the importance of Prime Minister Mustafa Al-Kadhimi's visit to Washington.
Al-Hakim said in a tweet followed by "Nass" (July 22, 2021), "Following up the periodic negotiations at a high level with the American side is important and necessary, especially after the change that occurred in the White House and the new approach in America's policy towards Iraq and the countries of the region."
He added, "It is necessary to be frank and to focus negotiations on Iraq's security, economic and financial stability."
And Foreign Minister Fouad Hussein announced, on Wednesday, that the fourth round of strategic dialogue between Iraq and the United States will be the last, while noting that it will witness agreement on scheduling the American withdrawal.
Hussein said in a statement, "The fourth round of strategic dialogue between Iraq and the United States will be the last," noting that "the dialogue round will witness agreement on scheduling the American withdrawal."
He added, "There are no American bases in Iraq," noting that "the Americans are in Iraqi, not American, camps."
He pointed out that "the current US administration understands the situation in Iraq in a way that contradicts the previous administration," explaining that "the meeting of Prime Minister Mustafa Al-Kazemi and US President Joe Biden will discuss the overall Iraqi-American relations."
The Foreign Minister suggested, "Iraq and America will likely return to the 2008 agreement after the end of the rounds of dialogue," stressing that "the terrorist organization ISIS still poses a threat and we need American intelligence support."
And he indicated that "the strategic dialogue between Iraq and America will address different areas," stressing that "dialogues with the United States in the future will be different."
He pointed out that "thousands of smuggled artifacts will be returned from Washington to Iraq, and that there is clear cooperation with the United States of America to return the smuggled antiquities."
With the approach of resolving the Baghdad-Washington dialogue... Al-Abadi's coalition sends two requests to the Iraqi negotiating delegation
The Victory Coalition, led by Haider Al-Abadi, on Thursday, made two requests to the Iraqi negotiating delegation, with the strategic dialogue between Iraq and the United States of America imminent.
A statement of the coalition, a copy of which was received by Mawazine News, stated that "with the approach of the fourth and final round of the "strategic dialogue" between Iraq and the United States of America, the "Victory Coalition" demands the Iraqi negotiating delegation to be free from pressures and the current crisis moment, and to adopt wise and courageous strategic positions that are achieved Iraqi interests are far from any other interests.
The victory coalition confirmed, according to the statement, that "the ten-pronged "Iraqi Sovereignty" initiative, which was proposed by Haider al-Abadi on July 19, 2021, represents a comprehensive road map that preserves national interests and sovereignty, consolidates the unity of the state and the prestige of its institutions, and avoids Iraq from the dangers of international regional conflict.
The coalition re-emphasized its adoption of "the need to adopt a schedule with binding time ceilings for the withdrawal of foreign combat forces, with a clear and legal agreement for the tasks of training, advice and development of combat capabilities and intelligence cooperation to combat terrorism, and to activate all the terms of the "strategic agreement" with the United States, in particular the economic and development aspects, And the start of a new phase of constructive cooperation between the two countries in all fields.”
He pointed out, "Iraq must respect its international obligations, and everyone should abide by the state's military and security contexts, both internally and externally, and not allow any foreign interference in any Iraqi security, military or political matter, and to refrain completely from any infringement on diplomatic missions, training and development headquarters and foreign advice, and resorting to foreign contexts." The state towards any encroachment on sovereignty, and Iraq’s disengagement from any file of the regional and international conflict in the region, to spare it the catastrophes of bias, and to ensure that it does not turn it into a battlefield that achieves the interests of others at the expense of the unity, security and safety of Iraq and its people.”
Parliamentary investment reveals the real reason behind the non-implementation of the terms of the Chinese agreement
Today, Wednesday, the Parliamentary Economy and Investment Committee revealed the real reason behind the failure to implement the terms of the economic agreement between Iraq and China.
Committee member Hamid Al-Moussawi said in a statement seen by (Al-Oula News), that “Al-Kazemi’s government came with an American blessing, so it is completely subject to the American will, as it does not have its own decision,” noting that “the American embassy in Iraq is directly interfering in preventing Iraq does not enter into any external agreements without its consent.”
He added, "The main reason behind not proceeding with the implementation of the Chinese agreement is the unwillingness of the United States to work with it in Iraq, and the Iraqi government is very much in line with the American decision."
Al-Moussawi continued, "Countries such as Iran and Turkey dealt with China and achieved great economic successes and gains."
He pointed out that "China has no competitor in Iraq and also has the ability and desire to work in Iraq despite the security threats and the economic crisis," noting that "China does not compete with America and Europe economically in the region because the presence of America and Europe is to achieve their own interests and not economic investment."
CBI Update: Just a note:
including $0. CASH
ISX Update: HOLIDAYShares Traded: not updated for todayValue Traded: not updated for today
7-21-2021 Intel Guru Bruce [via WiserNow] ...the last couple of days have been very...very quiet overall...as far as the contact that we were getting from some of our top bank sources – that seems to have shut down temporarily – and I don’t know if that’s just a matter of NDA or just a matter of the way that they are trying to put a hush on the information - they don’t really want us to know when it is supposed to start for us...the Treasury has wanted our tier 4A & tier 4B to be notified by tomorrow [Wednesday]... [post 1 of 2....stay tuned]
7-21-2021 Newshound Guru Breitling You don't want that...that question scares me for you because what are you going to do? Put your money in an offshore account somewhere and squirrel and sit on it. You don't want that. You always want a reserve/insurance policy for sure but you also want to be able to invest in other opportunities coming up...you don't need to risk... going out of the country, waste of time, waste of money and you're vulnerable... [post 2 of 2] [NOTE: Always pay your fair share of taxes - Consult your tax and financial professionals at the appropriate time to determine what your fair share needs to be.]
7-21-2021 Newshound Guru Breitling Question: "Can the dinars be exchanged for dollars outside the country to save taxes?" I'm assuming you're here in the United States. Yeah you can but you don't want to do that. Bob [Guru BobTheTaxMan] puts on a program where you can not pay taxes here in the United States and it's completely legal. The problem is once you start going out of the country...to these 'safe havens' you don't have any representation. There's no one to represent you. You're a foreigner. They laugh at you. It happens all the time. [post 1 of 2....stay tuned]
7-21-2021 Intel Guru MarkZ [via PDK] [Do you still think this is happening or has it stopped dead in its tracks?] I still think it’s happening. Iraqi contacts think we will see things move and happen this weekend as they wrap up the Eid...holiday, which is some kind of prosperity holiday where they give gifts and good things happen...Everything is still positive...I am looking so forward to crossing the finish link with all of you…
7-21-2021 Intel Guru Frank26 [Guru] Walkingstick and I told you last Monday they are going to come out with negative articles going against the raising of the exchange rate. They are not talking about lifting the 3 zeros from the currency. That's stupid. I saw some guru say, 'Yeah, you see I told you it was a lop. They're lifting the 3 zeros from the currency...' I told you there was going to be misinformation.
7-21-2021 Newshound Guru Pimpy The Kuwait dinar and Iraqi dinar were around the same. They were on par. Iraq is, you know, the second largest oil nation in the Arab world. They're soon to the be first. They'll get there. Then you start doing a side-by-side comparison just for shits and giggles between Iraq and Kuwait. Iraq has a bigger population that means they have a bigger workforce. That makes their currency more valuable. They hold more gold than Kuwait. That makes their currency more valuable. They have more foreign assets. They have more resources than Kuwait does. These are all the things taken into consideration when thinking of the value of the dinar. The only thing that Kuwait's got going on right now is they're pretty stable...
7-21-2021 Intel Guru MarkZ [via PDK] There is a tremendous amount of disinformation being sown right now... You...need to do your due diligence and not have a knee jerk reaction when you hear things… That it has gotten this crazy means we are close…There is no negative news. Things are still moving…just not as quickly as we all would like.
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