WOTS TUE SEP 7 21
Did the flotation of the dinar save Iraq's economy from Corona and the decline in oil prices?
These are the articles I discussed on today's My FX Buddies Podcast
A proposal to support the Generations Fund from the Kuwait war compensation funds after its end
Saleh said in a statement to {Euphrates News}: "We suggested that the funding of the Generations Fund be after the end of the compensation for the Kuwait war, which will end after 6 months from now."
He added, "The transfer of compensation amounts to the fund, in our estimation, is the mechanism that will maintain a ratio of 3 to 5% paid to the Generation Fund through properly managed internal and external investments that are linked to the higher authorities of the executive or legislative authorities
6 months separate Iraq from the last batch of Kuwait war compensation
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the remaining amount owed by Iraq as compensation for the benefit of the State of Kuwait, noting that paying it may take six months.
Saleh said in an interview with "Al-Iqtisad News", that Iraq is about to finish paying the compensation for the Kuwait war, pointing out that the remaining amount is estimated at one billion dollars out of 52.4 billion dollars.
He added that the payment of this amount may take six months, indicating that the mechanism adopted by Iraq to pay the amount was to deduct 3% from each barrel of oil produced.
He stressed the need for the government to adopt the same idea of establishing a "generational fund" and depositing part of the oil revenues in it.
Saleh pointed out that "Iraq over the past years consumed its surpluses in wars instead of building generational funds."
He pointed out that "the Generations Fund can support the budget in times of fluctuations in oil prices, and at the same time it is considered a savings for future generations."
In turn, the Finance Committee described Iraq's economic situation as "very fragile."
The committee's rapporteur, Ahmed Al-Saffar, said in a statement reported by the official television and seen by "Al-Iqtisad News", that "the situation of Iraq now is very fragile," noting that any drop in oil prices will lead Iraq to financial and economic crises.
He added that "the rise in oil prices in the last period enabled the government to pay the salaries of employees and contributed to filling the budget deficit.
Parliamentary Investment calls on the government to facilitate the affairs of investors and create a modern banking system
The Parliamentary Committee on Economy and Investment called on the government to facilitate the affairs of investors, whether local or foreign, and to create a modern banking system. These calls came with the presence of a Jordanian parliamentary delegation in Baghdad to facilitate the work of investors from both countries.
Last Thursday, discussions were held at the parliament headquarters with the Jordanian delegation on ways to enhance bilateral relations, parliamentary diplomacy, and cooperation and coordination between the two parliaments.
Committee member Nada Shaker Jawdat said in an interview with “Al-Sabah” newspaper, which was followed by the independent: “The country needs investment in order to advance it, since the reform of Iraq stems primarily from interest in the economy, and this is necessary with the high rate of unemployment,” and indicated that “these matters It will not be achieved without eliminating corruption and stopping the bargaining of investors, whether from inside or outside, and a modern and advanced banking system must be established, as this is what facilitates the work of investors,” and called for “the need to facilitate procedures and reduce red tape for investors, especially with the presence of the Jordanian delegation that is looking for opportunities investing in the country.
She added, "Investment can succeed in Iraq, provided that there is a correct management of the country," and indicated that "there are experiences of countries that were more devastating in their situations than Iraq, whether Malaysia or Indonesia, but today we find them at the forefront of countries after paying attention to investment and correct planning for their countries."
She continued: "Therefore, we need correct management in order to advance the country and keep parties away from interfering in investments, and attention must be paid to the security aspect, especially since any investment needs a good security situation because capital is cowardly.
Technology Street in Baghdad opens its doors at night for the first time since 2003 (photos)
Shop owners on Al-Sina'a Street in the center of the capital, Baghdad, are preparing to resume their activities at night after an 18-year hiatus.
The expected step is supposed to take place at the beginning of next October, with the aim of stimulating the commercial movement in the street designated for trading computers and all related technology, devices and equipment.
The activity in the lively street in the capital has been limited to specific hours, which often end before afternoon, since 2003.
Some people interested in the world of computers and technology hope that the street will pay more attention to lighting maintenance and modernizing storefronts, in the hope of attracting and encouraging major brands in the field of information technology and computers to open official branches for them.
Spokesperson for the Prime Minister: The exchange rate will be fixed in the 2022 budget and there will be no change in it
The spokesman for the Council of Ministers, Hassan Nazim, confirmed, on Monday, September 6, 2021, that the dollar exchange rate will be fixed in the draft financial budget law for 2022 and there will be no .change in it
Nazim said in a press statement, which was followed by "The Obelisk", that increasing the dollar exchange rate is an idea that has been discussed for years, and the previous government did not dare to take this step because of the risks and controversies surrounding it, and Al-Kazemi's government was bold to take this decision because it is in the interest of the Iraqi economy, and in the economic vision. Reform of the Ministry of Finance, as this idea .was presented within the reforms of the white paper and won acceptance and extensive discussion
And he continued: The government always takes steps to support goods and materials whose prices have risen, and has developed solutions and taken decisions regarding them. The idea of the dollar exchange rate is not retracted by this government, and I do not think any 2022 budget will change this price, since this government is .the one who will set the budget for the next year
He pointed out that the government at one period was not reassured of its ability to pay the salaries of employees, but with its policy it crossed this crisis and the increase in oil prices came as a catalyst, and even if oil prices increased, there would be major problems unless there was a wise management of the financial resources .coming from export raw
He pointed out that there is a kind of rise in the foreign reserve, and there is no abundance as a result of the accumulated deficit, and therefore any financial increase through which the government will try to fill the deficit with it, and we are not talking about existing surplus funds that we park here and there, but rather we are trying, .within the white reform paper, to control the The economy and make it dynamically developed
Parliamentary Finance: 50% of the articles of the 2021 budget have not been implemented
Today, Monday, the Parliamentary Finance Committee confirmed that there are several articles in the country’s general budget for the year 2021 that have not been implemented so far, while noting that the appeals submitted by the government concern only five articles.
A member of the committee, Jamal Cougar, told the “National News Center” website, “Parliamentary finance, pending the resolution of the appeals submitted by the government to the Federal Court, with articles (8, 12, 4, 52, 50), within the 2021 budget law, including what concerns The petrodollar fund and the increase in the prices of agricultural crops.
And Cougar stated, "The resolution of the appeals by the Federal Court, in the coming days, cannot be considered a gain for the government, because the House of Representatives has developed an alternative to these articles in the event that they are challenged," stressing that "50 percent of the articles of the current year's budget have not been implemented."
The Council of Ministers had earlier authorized Prime Minister Mustafa Al-Kazemi to file an appeal with the Federal Court on some items of the federal budget for the 2021 fiscal year.
Currency auction.. 4 billion dollars in sales of the Central Bank of Iraq in a month
The Central Bank's dollar sales amounted to four billion dollars last August.
Shafak News Agency correspondent stated that during the month of August, the Central Bank sold 4 billion and 713 million and 204 thousand dollars in its auction to buy and sell US dollars, at a rate of 224 million and 438 thousand and 290 dollars, pointing out that most of these sales went in the form of remittances abroad to finance foreign trade.
Our correspondent indicated that the selling price of the amounts transferred to bank accounts abroad and cash was 1460 dinars per dollar.
Did the flotation of the dinar save Iraq's economy from Corona and the decline in oil prices?
Specialists believe that this policy may succeed in some countries, but it is not of real benefit in Mesopotamia
Last year, Iraq suffered from a stifling economic crisis as a result of the outbreak of the Corona pandemic and the decline in oil prices, which constitutes the backbone of the country's revenues, and the government resorted to floating the dinar to save the economy and pay the salaries of its employees.
The decision to float increased the suffering of the citizens, as the prices of goods witnessed a double increase compared to what they were previously, especially since most of what is available in the local markets is imported from abroad and is subject to the currency difference in dollars against the Iraqi dinar .
And the Central Bank of Iraq decided, at the end of last year, to raise the price of selling the dollar to banks and exchange companies to
1460 dinars.
Creating a competitive atmosphere in Iraq
And Finance Minister Ali Allawi revealed at the end of last month, in press statements, that the process of changing the exchange rate was not easy, stressing that Iraq came out safely from the difficult economic situation, and said that “ Iraq’s financial policy during a year and a half passed through five exceptional circumstances, and that the economy The Iraqi government has changed since 2019 and the obligations of the previous government, and the Corona crisis led to the collapse of oil prices and increased unemployment,” noting that “the government’s policy worked to control expenditures, and thus it was reflected in the state’s revenues.”
The Iraqi minister considered that "the fiscal and monetary policy is reformist, and it is necessary to continue to work with it, and the reform process is correct, and started from the banks and customs," stressing that "the fiscal policy aims at balancing oil and maximizing other resources," and stressed that "the process of changing the exchange rate The dollar should have been done years ago, which reflects something useful for reforming the economic system, as it is not possible to create an incubating environment for a private economy without the government’s ability to change the distortion in public finances.
And Allawi indicated that the exchange rate reflects many issues, and there is a benefit in its increase in some economic sectors, pointing out that the process of changing the exchange rate was wanted to create a competitive atmosphere in Iraq, especially since there is today a balance between demand for currency and supply, and stressed that the ministry aims to stabilize the price of currency. The exchange and will defend it, and government banks aim to support the national economy, not the advances per se, indicating that the government is not against this matter, but must diversify the sources to which these advances go.
Providing cash to the government
The economic researcher Hamza Al-Hardan said that "the main purpose of floating the Iraqi dinar is to provide cash liquidity to the government through the exchange rate difference, and it was not related to solutions to rescue the Iraqi economy, and the evidence is that we did not witness any indicators of local economic growth, as well, the government claimed that it will reduce the bleeding of the Iraqi economy." Hard currency abroad through the currency auction, and the price difference will lead to a significant decline in the exit of hard currency from the country, but as a result, we did not witness any decline in the rates of selling the currency, which sometimes reached higher levels than it was in the old exchange rate.” He added, "The rise in commodity prices in the market is offset by a decrease in the rate of purchasing power, and all of them are negative repercussions of this decision." According to Al-Hardan, "the government took this decision, and it was the easiest, to provide cash liquidity to pay salaries and obligations during the period of low oil prices and the Corona crisis.
Al-Hardan considered that "the Iraqi economy suffers from continued total dependence on selling oil, and the rentier economy needs solutions, including activating the role of the private sector, providing a safe investment environment and radical solutions to the problems of unjustified government spending."
An expert in international economics, Anwar al-Saadi, said, "The flotation policy may succeed in some countries, but in Iraq's economy it is not of real benefit, because it is a rentier economy that depends heavily on oil revenues. Therefore, the flotation policy requires diversifying the economy to create a state of balance in Supply and demand, but this is considered difficult in Iraq because there is only one player in this equation, which is the Central Bank of Iraq.
Plug the deficit against rising inflation
With regard to the interest in floating the recent devaluation of the dinar, Al-Saadi confirmed that the flotation “only succeeded in closing the deficit in the 2020 budget, but in return it led to a gradual and rapid rise in the level of inflation, thus harming the low-income class, which is predominant in Iraqi society, Due to the reflection of exchange rate differences and the increase in import costs borne by the final consumer, the annual inflation rate rose in December 2020, by 3.2 percent on an annual basis, affected by the change in the dollar exchange rate. In these years, it reached four percent.
Al-Saadi expected, "Consumer prices will continue to rise for the following months. As for the future of the dinar, it is expected that it will maintain its price in the range of 1500 as a maximum for a period of up to more than a year, and if the economic situation improves, it is possible to raise the value of the dinar again."
For his part, the economic expert, Evan Shaker, considered that the decision to reduce the value of the Iraqi dinar against the dollar was
not correct and did not save the Iraqi economy, and on the contrary, it exacerbated the economic crisis, and continued, “The reduction mechanism was random, as well as the rate of approximately 25 percent is very high, and in At the same time, there were no stimulus packages to absorb the shock, revive the economy, and support low-income segments, and on the contrary, unemployment rates increased, and the government failed to create an appropriate environment to support and develop the local industry, so this decision harmed the Iraqi economy as a whole.
The dollar exchange rate reached 1470 dinars to the public, and 1460 dinars to banks operating in Iraq.
Saleh to the ambassadors of countries: Iraq looks forward to relations that enhance political, economic and commercial cooperation
are they sneaking in all these countries? hmmmm...
The President of the Republic, Barham Salih, received, on Monday, September 6, 2021 at AlSalam Palace in Baghdad, the credentials of the ambassadors of: the People’s Republic of Bangladesh, Amdi Fadlul Bari, the Republic of Romania, Radu Octavian Dobri, the Republic of Pakistan, Ahmed Amjad Ali, the Republic of India, Prashant Bessi, and the Kingdom of Sweden Jonas Lofven, Kingdom of Spain Pedro Martinez-Ephes Martin, Islamic Republic of Mauritania El Hassan Mohamed Aliat, Republic of Finland Mate La Silla, European Union Villa .Fariola, France Eric Chevalier
The President of the Republic, while receiving the ambassadors separately, stressed that Iraq is looking forward to balanced relations based on strengthening political, economic and commercial cooperation, opening the door for investment, supporting international and regional coordination, easing tensions and establishing peace in the .region
He pointed out the importance of joint international and regional cooperation in order to face the current global challenges, foremost of which is the fight against terrorism, addressing economic fluctuations and health crises, .confronting severe climate changes and protecting the environment
The President expressed his wishes for the new ambassadors to succeed in performing their new duties, in a way .that contributes to the consolidation of friendship and cooperation between Iraq and their countries
For their part, the ambassadors extended their thanks and appreciation to the President of the Republic, .expressing their aspirations to develop relations with Iraq in various fields in a way that enhances common bonds
Iraq discusses with the World Bank an indicator to improve the business environment
Deputy Secretary-General of the Council of Ministers, Farhad Nematullah Hussein, discussed with representatives of the World Bank in Iraq indicators of improving the business environment.
A statement by the General Secretariat of the Council of Ministers received by the "National News Center" stated that "the Deputy Secretary-General of the Council of Ministers, Farhad Nematullah Hussein, chaired the second periodic meeting of the Diwaniyah Order Committee (52 for the year 2021) concerned with following up on reforms and addressing indicators for evaluating the business environment in Iraq that were reported by the Bank. The international community in its annual report by improving the regulatory environment for the private sector and its workers, as one of the essential items in achieving economic growth and motivating young people to engage in the local labor market and shift towards the private sector.
The representative of the World Bank indicated, according to the statement, that “the Bank is a key partner in supporting Iraq’s aspirations; To improve the business environment and implement strategic plans and programs to achieve economic growth, in implementation of Iraq's commitment to the terms of the white paper approved by the government earlier in this regard.
He added, "The meeting, which was held in the building of the General Secretariat of the Council of Ministers, dealt with the annual assessment prepared by the World Bank on doing business according to the axes (obtaining credit, settling price cases, enforcing government contracts, and protecting investors with the lowest percentage)."
Iraqi-Qatari Economic Forum in Baghdad
Today, the Iraqi-Qatari Companies Forum is being held in Baghdad, with the high participation of the two countries.
A source told "Al-Iqtisad News", "Today, the Iraqi-Qatari Companies Forum is being held in Baghdad at the Babylon Hotel, which includes major manufacturers in Qatar in addition to high-level personalities from Iraq."
He added that the forum aims to develop economic and trade relations between the two countries.
The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, visited Iraq last month, to participate in the Baghdad Conference on Partnership and Cooperation.
The Association of Iraqi Private Banks participates in the conciliation meeting between the states of Qatar and Iraq
Today, Tuesday, the conciliation meeting between the State of Qatar and Iraq was held in the capital, Baghdad, in the presence of the Deputy Governor of the Central Bank, Dr. Ammar Hamad, Vice President of the Association of Private Banks Tamkeen Abdul Sarhan, Deputy Executive Director of the Association Ahmed Al-Hashemi, in addition to the Minister of Environment Jassem Al-Falahi and Qatari Ambassador Khalid bin Hamad Al Sulaiti and a number of Qatari companies.
Deputy Executive Director Ahmed Al-Hashemi said in his speech during the meeting, "We look forward to strengthening cooperation and economic partnership between the two countries," noting that the Iraqi banking sector, under the supervision of the Central Bank, is making great strides in growth and services during the current period, if today there are more than 70 private banks spread in It implements international laws and instructions and provides services to most citizens, so there are currently more than 5 million active bank accounts.”
He stressed that the opening of bank accounts is growing by 44% annually, and bank deposits amounted to about 85 trillion dinars, or 57 billion dollars, and the volume of lending rose to 50 trillion dinars, as banks worked to enhance economic stability despite the great challenges facing the Iraqi economy due to the outbreak of the Corona virus and the decline in oil revenues. On which the budget depends by 93%. .
He added that the steps of development, in cooperation with the Central Bank and the Association of Banks, contributed to improving the performance of most banks and was the subject of good governance and management, as well as training and qualification of human resources. direct structural and contributed to achieving sustainable development
In his turn, Minister of Environment Jassem Al-Falahi said, in his speech during the meeting, "I extend my sincere thanks and gratitude for this generous invitation to attend the opening ceremony of the Qatari-Iraqi consensus meetings. I welcome you and on behalf of Prime Minister Mustafa Al-Kazemi, our brothers from Qatar in their second country, and we appreciate the efforts and insistence on work and communication despite The effects of the Corona pandemic and its negative repercussions on all areas of life, especially in the economic aspects.
He added, "Based on Arab and Galilean brotherhood and the common interests between the two countries, we are meeting here today to strengthen economic, cultural and industrial cooperation between the two brotherly countries."
Al-Falahi praised "the role of the sisterly State of Qatar in the region, which seeks to achieve the goals of sustainable development."
In addition, the Qatari ambassador to Iraq, Khalid bin Hamad Al-Sulaiti, said on the sidelines of his participation in the meeting, which was attended by "Al-Iqtisad News", "Today we translate the State of Qatar's keenness on the future and stability of the sisterly Republic of Iraq, and we actually comply and say to His Highness, the Emir of the State of Qatar, Sheikh Tamim bin Hamad Al Thani, of the necessity of Iraq's restoration of its leading position and the consolidation of its national sovereignty through building state institutions and supporting the pillars of security and stability, in which the economy is a central pillar.
He added, "In addition to writing, culture and the arts, humanity in this Arab land has known trade since the dawn of history," noting that "today we are inspired by this history to galvanize our enthusiasm and build new trade and economic horizons that link our promising present to the future."
Al-Sulaiti indicated that "we hope that these bilateral meetings will be the beginning of a series of new commercial steps through which the State of Qatar will be able to support the Iraqi brothers in various strategic areas."
And the ambassador added, "Since my traditional position as ambassador of the State of Qatar in the Republic of Iraq, I have not known of this good country and the hospitable people except all the best and keenness to advance their country to the ranks of the major countries."
He concluded his speech by saying: "We appreciate the efforts of everyone who were keen to organize and make this bilateral economic initiative a success between the two countries."
Publishes the dollar exchange rates on the local stock exchange for Tuesday, (September 7, 2021), according to the monitoring of specialists.
Baghdad - Stock Exchange of struggle
147,575
....
The price is in most Baghdad exchanges
Purchase
147,000
Sale
148,000
———————————————
Erbil - Bursa
147,600
———————————
Basra - Bursa
147,600
————————————
Sulaymaniyah - Bursa
147,750
————————————
Karbala - Bursa
147,600
————————————
Maysan - Bursa
147,70
Iraqi-Qatari Economic Forum in Baghdad
Today, the Iraqi-Qatari Companies Forum is being held in Baghdad, with the high participation of the two countries.
A source told "Al-Iqtisad News", "Today, the Iraqi-Qatari Companies Forum is being held in Baghdad at the Babylon Hotel, which includes major manufacturers in Qatar in addition to high-level personalities from Iraq."
He added that the forum aims to develop economic and trade relations between the two countries.
The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, visited Iraq last month, to participate in the Baghdad Conference on Partnership and Cooperation.
Consultant: The Generations Fund is an important step to provide wealth that helps in prosperity and progress
Economic Adviser to the Prime Minister Mazhar Muhammad Salih said: The government's intention to establish the "Generations Fund" is an important step that is applicable in all countries of the world and was supposed to be started a long time ago, indicating that "this fund will protect future generations and provide wealth that will help them in prosperity and progress.
Saleh said in an interview with the independent newspaper, “Al-Sabah,” that “Iraq is one of the countries producing raw materials, and it is the only country that does not have a backed side wealth, as all countries, when they have high surpluses, try to invest them with assets, either real or financial to generate returns and income, and a goal These riches will be perpetuated for the next generation.”
He added that "future generations will either inherit prosperity and progress, or they will inherit ruin, debts and broken infrastructure, which is a great disaster," noting that "all countries with high resources invest them properly for future generations and pass them on to those generations through funds."
And he indicated that “the Generations Fund is an investment fund whose function is diversified from bonds and shares, that is, real resources that can contain high and efficient income and management to maximize its resources at all times and be supportive of the future of income and wealth for future generations,” noting that “the current generation if it squandered resources, it will create a deficit. It bequeaths havoc to future generations, and those generations are waiting for us to work.”
And he continued: “All countries have sovereign funds for generations, and Iraq should turn to this matter,” noting that “the financing of this fund will be through raw materials such as oil or any other stocks, and also through deductions that will end, such as the deductions of the Kuwait war, In general, banks contribute to its management, and the fund can have a special management and the use of international consulting companies to manage sovereign wealth funds to take instructions for diversifying and managing them.”
Iraq is the fifth dominant in oil in the world
"Wall Street" 24/7 reported on Tuesday that Iraq is the fifth dominant in oil globally, indicating that the oil industry faced unprecedented challenges in the year 2020.
The website said in a report seen by Shafak News Agency, that the oil industry faced unprecedented challenges in the year 2020 due to the Corona pandemic, as demand for oil decreased for the first time in more than a decade, by more than 9 million barrels per day, noting that "this is It also coincided with a decline in oil production by 6.6 million barrels per day.
Nevertheless, according to the report, "more than 88 million barrels per day were produced worldwide in 2020," noting that "the vast majority of this production was for only 15 countries."
The report noted that "the highest production was achieved in 2020," noting that "the 15 countries combined have 1.6 trillion barrels of oil in their reserves."
The report indicated that "Iraq is the fifth dominant in oil globally, with proven reserves of 145 billion barrels, which represents 8.4% of global reserves, and a production of 4.1 million barrels per day," noting that "the per capita GDP for the year 2020 amounted to 9,654 dollars, and the percentage of exports Oil for 2020 constitutes 39.6% of GDP.
The website indicated that "Venezuela is ranked first in the world's largest oil dominance, with reserves of 303.8 billion barrels, followed by Saudi Arabia, then Canada third and Iran fourth
Nazhar Muhammad Salih : Diversification of revenue sources is linked to strengthening the institutions of the financial system
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that: Diversification of revenue sources is linked to strengthening the institutions of the state's financial system.
He told the National Iraqi News Agency ( NINA ) that: The desire to diversify other non-oil revenue sources is linked to strengthening the institutions of the financial system and modernizing their accounting, control and administrative information tools.
Saleh added that: The Public Financial Corporation seeks, within the scope of its strategy, to adopt global standard procedures based on building coherent bases for financial information and developing its network between spending or exchange units, as well as with collection and revenue units.
He explained that: there is a time path that must be crossed during the next few years to reach a very acceptable stage of developing the movement of government revenues and the flow of resources to the public budget in a transparent and coherent manner
CBI Update: Just a note:
including $43,280,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
9-6-2021 Newshound/Intel Guru RVAlready Yes. Iraq is trying to hide what they are about to do. They will never publish an article saying a favorable rate will be released tomorrow. They will continue to say the exact opposite. It makes them look silly to us, who know what is coming.
9-6-2021 Newshound Guru Kaperoni There will not be a significant RV as many gurus talk about, there's just too much currency in circulation for such an event. Iraq could not afford it. So what we have to hope for is Iraq to succeed in developing a diverse private sector market economy away from just oil, therefore allowing the zeros to naturally go away as a result. For this plan to succeed we need to be patient and let Iraq build their economy.
9-6-2021 Intel Guru Frank26 Not only do they [the Iraqi citizens] know that they are about to add value to their currency but they also know about the HCL. That's why Kazemi came out two days ago and pounded his chest like King Kong...he's going to let a lot of oil companies coming in because Iraq now owns them and he's going to allow them to hire Iraqi citizens...
9-6-2021 Newshound Guru Breitling I still expect the dinar to come out between .50 and .60 cents. I still fully expect from what Iraq is saying that when they lowered the value of their currency to pay back bills...the end of October the beginning of November they are going to have a meeting to see where they're at...that's my rate and that's my window...
9-6-2021 Newshound Guru Pimpy Article: "Economy News publishes details of signing the agreement with France's Total". This is a good opportunity. Building more relationships internationally, more jobs. I really like what's going on. I think over the last 6 months for sure Al-Kazemi has really stepped up to the plate...the stronger the economy becomes the stronger the currency becomes. That's a big part of it.
9-6-2021 Newshound/Intel Guru Mnt Goat Article: "3 DECADES AFTER THE INVASION, IRAQ IS CLOSE TO TURNING THE PAGE ON KUWAIT’S COMPENSATION" Quote: “Deduction of 3% of each barrel exported abroad as compensation for the Kuwait war will end next year.” This wording is weird. 2021 not 2022 is their last year to pay complete these payments, so yes it will end in Jan 2022. Oops that date popped up again…WOW! We have waited for this to end. This will end these sanctions against the Iraq oil revenues and free up this money.
ARTICLE 1 (from PM Kadhimi's website; posted only on Arabic side, not on English side)
and his accompanying delegation.
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