WOTS TUE APR 5 22 Economic: Iraq needs real investment support
We are still waiting nothing on the government formation yet.
These are the articles I would have discussed if I had done a My FX Buddies Podcast
Economic: Iraq needs real investment support
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The economic affairs specialist, Degla Sobeih, stressed that "the stage requires that efforts be directed to creating an ideal investment environment that advances the economy, addresses its problems, and achieves financial revenues for the general federal budget," stressing that "the investment gate represents urgent solutions to the decline in economic performance in the country for all its sectors, productivity and service.
Sobeih pointed out that "there have been investment projects that have been licensed for years, but the intersections and the lack of evacuation of the place caused the delay in their implementation, including in Baghdad and several other places, where they provide job opportunities for a large number of labor in the stages of rehabilitation and beyond, as well as providing the state budget with sums of money." big in one month.
She pointed out that "the local and international effort is waiting for appropriate opportunities to enter the local labor market, due to the country's need for projects in all regions, as well as for investment in industry, agriculture and tourism, and these sectors are able to transfer the national economy to a new stage, and here we need the national will that harnesses all efforts." To promote investment and make Iraq a destination for all investments.
And she stressed that "the Iraqi economy must move to a new stage in proportion to the wealth it possesses, as it is considered one of the rich countries.
The constitutional vacuum or the dissolution of parliament”... What awaits Iraq if it fails to elect the president for the third time?
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In light of the continued obstruction of the Iraqi political horizon, and the absence of any positive developments between the coordination framework and the Triple Alliance, analyzes and speculations abounded about the political scene if Parliament failed for the third and last time to choose a new president for the country.
Will Iraq enter the stage of a constitutional vacuum, and how will the situation in the country go after the current April 6 session, and is it possible to dissolve parliament and hold new elections?
He continued: This explains why militias affiliated with the Coordination Framework targeted three members of parliament belonging to the Triple Alliance, which they called "a homeland," pointing out that Al-Zamili, the deputy speaker of Parliament, controls the presidency and harasss Al -Halbousi with his powers, which has now been revealed after the appearance of official correspondence between them about the term Presidency of Parliament. Or the Speaker and his two deputies. Al-Nayel concluded by saying: According to all these data, the political process in Iraq has entered the constitutional vacuum from its widest doors, and there is no term that can help the current situation, whether from the Federal Court or the current constitution, but as usual they will deceive this issue and their constitutional violations will continue within framework of the current political process.
The Iraqi parliament had twice failed to choose a new president for the country during the past two weeks, after two-thirds of parliament members were unable to attend the voting session on the president, as stipulated by the Federal Supreme Court, due to the incompatibility between the Sadrist movement and the coordinating framework of Shiite forces to elect the president of the republic and proceed with forming the new government.t is noteworthy that the Federal Court has a general authority that allows it to extend the term of selecting the President of the Republic according to the circumstances, as Article 72 / second of the Iraqi Constitution states: The new President and its meeting, provided that a new President of the Republic is elected within thirty days from the date of the first session of the Council. For his part, a member of the Iraqi National Charter, Abdul Qader Al-Nayel, says that there will be no surprises in the last parliament session scheduled for April 6, as the political movement did not witness any development unlike what it was before the previous session, because Al-Sadr gave a deadline for the coordination framework to After Ramadan to form the government, he suspended all his activities and media statements during the month of Ramadan, and the Triple Alliance stuck to their alliance, which includes 200 members of parliament, which means that it is impossible for the coordination framework to mobilize 220 deputies as a condition for holding the presidential election session. He added in his speech to "Sputnik", on the other hand, that al-Sadr and the Triple Alliance have other papers to maneuver with, and I expect that they will present them as they did during the sharing of parliamentary committees, which are now witnessing objections of no legal or political value on the part of the coordination framework, after they were shared Between the Sadrist movement and the sovereignty of the Kurdistan Democratic Party without the involvement of the framework in it.
Al-Nayel indicated that if an understanding does not take place between the political forces after the end of the month of Ramadan, the tripartite alliance will overthrow the ministers, replace them and share the ministries among them, which is one of their powers, and they also need only a simple majority in Parliament to pass this project, and they have that while keeping Al-Kazemi and therefore They will take sensitive positions within ministries from undersecretaries to general managers to department heads, and thus the curtain will fall on extracting the deep state from al-Maliki and the general coordination framework, so that after implementing this step they will be completely outside the framework of the government, and thus the tripartite alliance led by al-Sadr will make them political beggars in front of the ministries .the outset, the Kurdish political analyst, Tariq Jawhar, says, all expectations indicate that the April 6 session, which is the last session set by the Federal Supreme Court in accordance with the Iraqi constitution, this session will be like the previous sessions to choose the President of the Republic and will not complete the quorum, with the continuation of the blockage and political disputes. Between the blocs and the lack of consensus, or agreement regarding the main blocs, especially between the coordination framework and the Sadrist movement in the Shiite house. In his speech to "Sputnik", he stressed that the continuation of this dispute will constitute a stumbling block to any progress in the political process, and this is the reality, although there was an initiative days ago from the coordination framework, but Muqtada al-Sadr's tweet closed the door to any attempt to start a dialogue between the two parties and leave the space for 40 days in front of the coordination framework in order to enter into consultations with other parties except for the Sadrist movement, and this may mean the survival of the political process without real intentions for a solution between the main blocs. Jawhar added, after tomorrow’s session, things will remain as they are now, meaning that the Al-Kazemi government will remain to conduct business and the current President of the Republic, Barham Salih, will remain, in the exercise of their duties, in addition to that we have an elected parliament that legislates and amends laws, so I think that the process will take place as it is. Now, there will be no glitch in this aspect. And the political analyst continued, and despite the constitutional timings being exceeded, I do not think that Iraq is on the verge of a constitutional vacuum, because all institutions work and perform their function in the conduct of business, and the President of the Republic continues to exercise his full powers until a new president is elected.
Regarding the extent to which this situation can continue, Jawhar says: This situation cannot continue indefinitely, but it may continue after this session for several weeks or months, after which there may be a demand to reorganize the elections and abolish the current parliament. Certainly this will be raised The matter is by many political forces and also from the street, because when the citizen participated in the elections to choose a parliament and a new political process, it was in order to provide services and change the difficult living situation, but the political blocs are the ones who bear responsibility because of their differences, ambitions and narrow self-interests, which were placed above the public interests For the Iraqi people, I do not rule out that some forces will resort to the Federal Court to challenge the illegality of maintaining the current political situation and the need to search for an alternative, and the alternative will only come by abolishing the current parliament and holding new elections.
The goal is positions, not the country's interest..Al-Maliki's coalition makes a serious accusation against the tripartite alliance
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Today, Tuesday, a member of the State of Law coalition, Fadel Mawat Kassar, accused the Triple Alliance of trying to take over all government .positions Kassar said in a statement to (Baghdad Today),
"The reason for the political blockage is the Tripartite Alliance's attempt to control and seize all government positions, specifically the Sadrist movement and the Democratic Party, given that the Sunni component decided its decision to appoint the Speaker of the House of ".Representatives
He added, "Any bloc or party that has good relations with Iran is excluded, and this ".is what is happening with the Patriotic Union of Kurdistan Kassar continued, "The goal of the tripartite alliance is only to obtain positions ".without taking into account the public interest and the stability of the country
Three MPs are exposed to an assassination attempt in Baghdad
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A security source in Baghdad said, on Monday, that three deputies were subjected to a failed .assassination attempt in the Rashidiya district, north of Baghdad
The source told (Baghdad Today), "Representatives Muhammad Fadel Al-Dulaimi from the Sovereignty bloc and Ali Al-Saadi and Hussam Al-Saadi from the Sadrist bloc were subjected to a ".failed assassination attempt in the Rashidiya area north of Baghdad ".
The source confirmed that "the deputies went to the police station to file a complaint
Oil Minister: Setting new criteria for calculating Kurdistan’s share
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Oil Minister Ihsan Abdul-Jabbar revealed, on Tuesday, that there are new criteria for calculating the share of the Kurdistan region that is handed over to the federal government in oil exports.
Abdul-Jabbar said in a statement to the official news agency, "The Kurdistan Region, according to the budget law for the year 2021, is required to deliver sums of 250 thousand barrels at the price of SOMO to the federal government," explaining that "what happened is the deduction of 250 thousand barrels per day from the region's dues and a settlement The Ministry of Finance was done on this basis."
And he indicated that "last year there were small amounts of money paid to the region, but this year there will be other criteria that entered into calculating the region's share and the federal government is working on it."
Iran announces return of oil production to pre-sanctions level
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A senior Iranian official said that the country's oil production capacity has returned to the same level it was before the re-imposition of sanctions in 2018, following Washington's withdrawal from the nuclear agreement.
"Oil production has reached pre-sanctions numbers, despite the economic pressures," the official IRNA news agency quoted Mohsen Khojasteh Mehr, CEO of the National Iranian Oil Company, as saying.
Iran is currently engaged in negotiations with major powers to revive the 2015 nuclear deal, which is expected to give it sanctions relief to resume oil exports in exchange for restrictions on its nuclear programme.
The United States, during the term of President Donald Trump, withdrew in 2018 from the agreement and re-imposed severe sanctions on Tehran, which responded the following year by gradually abandoning its obligations under the agreement.
Khojastha Mehr said that production has returned to the same level it was before the sanctions, at a rate of 3.8 million barrels per day, after it had fallen sharply after the imposition of sanctions.
"We are now in a position to double our exports," he added, noting that "in terms of energy security, the Islamic Republic is able to achieve stability in the international arena."
The Organization of Petroleum Exporting Countries (OPEC) estimated in a monthly report Iran's oil production at 2.54 million barrels per day during the month of February.
A high-ranking NATO delegation arrives in Iraq
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Today, Tuesday, a high-ranking delegation from NATO arrived in the capital, Baghdad.
The media office of the Speaker of the House of Representatives said in a statement received by "Mausin News" that "Al-Halbousi received a Danish delegation from the Parliamentary Committee of NATO headed by Representative Mads Fogliidi."
The Central Bank of Iraq confirms the success of the electronic platform for letters of guarantee
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Today, Tuesday, the Central Bank of Iraq called on state institutions and the private sector to continue to follow the platform for letters of guarantee to ensure the financial solvency and correctness of the issuance of any letter issued by banks operating in Iraq.
The Central confirmed that the mechanism of issuing letters of guarantee through the electronic platform contributed to increasing the seriousness of contractors and contractors in implementing projects and protecting government institutions from contracting with fictitious companies and limiting their ability to access the projects to be implemented.
The Letters of Guarantee platform has completed issuing more than (30) thousand letters worth more than (9) trillion dinars during 2021, which confirms the success of the strategy of the Central Bank of Iraq in organizing the issuance of letters of guarantee and increasing the confidence of the beneficiaries of letters issued by banks that are subject to the control and inspection of the Bank. Iraqi Central.
It is noteworthy that the establishment of the electronic platform for registering letters of guarantee issued by licensed banks for the benefit of the governmental and private sectors, comes within the efforts of the Central Bank of Iraq to develop banking work, and organize the mechanism for issuing and renewing letters of guarantee based on guarantees provided by individuals and companies and the credit rating of exporting banks, and reducing fraud operations. and counterfeiting.
Central Bank of Iraq
information Office
5- April - 2022
Baghdad and Ankara...Readiness to develop trade and investment through the private sector
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Both Iraq and Turkey expressed their readiness on Monday to develop trade and investment in the private sector, while the President of the Baghdad Chamber of Commerce, Firas Al-Hamdani, indicated that a committee was formed to prepare a joint economic and trade forum in this regard.
This came during Al-Hamdani's reception of the Turkish Ambassador to Iraq, Ali Reza Güni, and the Chairman of the Joint Business Council between Iraq and Turkey, Jaafar Al-Hamdani, according to a statement received by Shafaq News Agency.
According to the statement, during the meeting, they discussed the most prominent issues related to the joint economic, commercial and investment sectors and ways to develop and strengthen them through bilateral meetings, the continuation of joint relations and the facilitation of mutual trade work procedures between the two countries.
According to the statement, the head of the Baghdad Chamber of Commerce expressed his willingness to cooperate with Turkish traders and investors, adding, "We have formed a committee to prepare a joint economic and trade forum."
Al-Hamdani added, "We will grant Turkish businessmen and merchants wishing to work in Baghdad the visa to enter and contribute to their full support in order to build Iraq, develop its economy and stimulate trade in all its forms, especially investing and opening productive projects, and building housing units that eliminate the housing crisis in all Iraqi governorates."
For his part, Turkish Ambassador Ali Reza Güni affirmed his country's readiness to "cooperate with Iraq, support its economy, develop the stages of rehabilitation of its infrastructure, introduce hundreds of investment companies and participate in activating the joint agricultural and commercial production program between the two countries."
Güni indicated that "Turkey is planning to hold a conference with the Baghdad Chamber of Commerce, because it believes that the private sector has a major role in developing the Iraqi and Turkish economy, as well as work will be done on concluding joint agreements."
For his part, the head of the Iraqi-Turkish Business Council, Jaafar al-Hamdani, said, "The economic and trade relationship between the two countries is very strong, and there are efforts to hold an economic forum that supports the commercial sector and joint cooperation between the two countries, in addition to establishing Turkish-Iraqi exhibitions and a commercial guide to identify companies that want to working in Iraq.
An Iraqi Islamic bank launches a project to invest cash deposits and determines the percentage of profits.
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Al-Nahrain Islamic Bank of Iraq announced, on Tuesday, the launch of the investment deposits project, calling on residents to visit its branches to benefit from this project.
In a statement today, the bank stated that the deposit controls include the cash amount that the customer pays to invest his money for a period of no less than 6 months as a minimum to participate in the profits.
The bank stipulated that the amount of the investment financial deposit should not be less than (3000000) Iraqi dinars, or (2000) US dollars.
The statement noted that profits are not calculated if any amount is withdrawn six months before the date of deposit, and when part of the amount is withdrawn six months before, the remaining amount is considered a new deposit.
The bank also indicated that depositors receive 50 percent of the net profits of their deposits according to the contribution of each one of them and the period invested in it.
Below Here is the daily WOTS report for April 5th, 2022 the Word on the Street
The dollar exchange rates on the local stock exchange today, Tuesday (April 5, 2022), according to the monitoring of specialists.
Baghdad - the stock exchange
147,650
The price in most exchanges
147,000
148,000
The exchange rates for Monday were as follows:
Baghdad - the stock exchange
147,300
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The price is in most Baghdad exchanges
146,750
147,750
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Sulaymaniyah - Bursa
147,275
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Basra - Bursa
147,300
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Erbil - Bursa
147,250
The Markets:
The Asian markets closed up NIK up by .19% HSI by 2.10% SHANG by .94%
The UK markets are currently trading in the red from .10% to 1.48%
Our futures are currently trading down DOW at 34714 by .26% SNP at 4566.25 by .25% NDX at 15120 by .29%
Precious Metals:
Gold is red at 1931 Silver is green at 24.80 Copper is green at 484 Platinum is red at 985
Brent 108 WTI 104 Bitcoin: 46,645 10 yr yield: 2.48
Things in the News:
Iraqi Articles:
A few hours and Iraq enters the constitutional vacuum for the first time in its history
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Iraqis wake up tomorrow (Wednesday) to enter their country into a constitutional vacuum, while a suicide bomber injured 8 security men after he blew himself up with an explosive belt.
Tomorrow, the country will enter a constitutional vacuum; It has exceeded the deadline set by the Federal Court to elect a President of the Republic on April 6, knowing that Parliament has been unable to elect the President since its first session on February 9, which was also reflected in the failure to form a new government to succeed the government. Mustafa Al-Kazemi.
Attention is now turning to the Federal Supreme Court, which granted Parliament a short period, which means that if this period is exceeded, the options remain open for it to take the appropriate decision; Including the possibility of withdrawing legitimacy from Parliament.
A source reveals an upcoming visit for Al-Halbousi to Al-Sadr to inform him of a dangerous decision
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An informed political source revealed the intention of Parliament Speaker Muhammad al-Halbousi to visit Najaf Governorate to meet with the leader of the Sadrist movement, Muqtada al-Sadr, in the coming hours, indicating that al-Halbousi may inform al-Sadr of his intention to withdraw from the tripartite alliance in protest of the existing dispute with the First Deputy. The Speaker of Parliament Hakim Al-Zamili.
The source said in a press statement, "The coming hours may witness a lightning visit by Parliament Speaker Muhammad al-Halbousi to the leader of the Sadrist movement, Muqtada al-Sadr, due to the dispute between the Sadrist movement and the Alliance of Sovereignty."
He added, "Al-Halbousi will inform al-Sadr of the intention of the Sovereignty Alliance to withdraw from the tripartite alliance and find an alternative in the event that the dispute continues over the powers of the parliament's presidency or to restore things to their rightful place, and al-Zamili is not unique in the powers of the parliament's presidency."
The source explained, "What was announced in the media is a very small part of the political crisis between Al-Halbousi and Al-Zamili. Al-Halbousi informed political parties close to him of his intention to protest and not to fall into the trap of the Sadrist movement's acquisition of the presidency."
Al-Zamili and Al-Halbousi exchanged official books published in the media since the day before yesterday, talking about the powers of each party and questioning some of the powers between the two sides.
The House of Representatives issues a position towards legislating the 2022 budget
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Deputy Speaker of Parliament Shakhwan Abdullah Ahmed confirmed that Parliament continues its work and performs its legislative and oversight functions, and is awaiting sending the current year's budget.
Ahmed said in a statement, that the House of Representatives continues in its work and performs its legislative and oversight functions, and is waiting for the federal government to send the Federal Budget Law for 2022, because it is an important law related to the public life of the people, adding that “the House of Representatives hopes to continue dialogues, discussions and understandings between political blocs and national forces.” To get out of the political crisis and the state of blockage at this difficult and sensitive stage, to move forward with the political process, resolve differences, and complete the constitutional entitlements.
The Vice-President of the Council indicated that "the House of Representatives will take legal measures and hold accountable those who leaked and published books and internal correspondences of the House, which are related to problems around some legal terms and vocabulary in defining tasks and powers," stressing that "the House of Representatives will address this part in accordance with the articles of the Constitution, the rules of procedure and the law." Parliament for the year 2018.
They have been having auctions and the ISX has been trading regularly; the sites just don't update in time to put the information in this report, unless it is
here.
Click on the link above for the latest update.
The Central Bank of Iraq confirms the success of the electronic platform for letters of guarantee
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Today, Tuesday, the Central Bank of Iraq called on state institutions and the private sector to continue to follow the platform for letters of guarantee to ensure the financial solvency and correctness of the issuance of any letter issued by banks operating in Iraq.
The Central confirmed that the mechanism of issuing letters of guarantee through the electronic platform contributed to increasing the seriousness of contractors and contractors in implementing projects and protecting government institutions from contracting with fictitious companies and limiting their ability to access the projects to be implemented.
The Letters of Guarantee platform has completed issuing more than (30) thousand letters worth more than (9) trillion dinars during 2021, which confirms the success of the strategy of the Central Bank of Iraq in organizing the issuance of letters of guarantee and increasing the confidence of the beneficiaries of letters issued by banks that are subject to the control and inspection of the Bank. Iraqi Central.
It is noteworthy that the establishment of the electronic platform for registering letters of guarantee issued by licensed banks for the benefit of the governmental and private sectors, comes within the efforts of the Central Bank of Iraq to develop banking work, and organize the mechanism for issuing and renewing letters of guarantee based on guarantees provided by individuals and companies and the credit rating of exporting banks, and reducing fraud operations. and counterfeiting.
Central Bank of Iraq
information Office
5- April - 2022
The CBI for rate is 1460
The currency auction for April 5th, 2022 total sales amount $190,965,783.
https://www.dinarguru.com/4-5-2022 Intel Guru MarkZ [via PDK] [Articles calling this a scam from DOJ/Forbes 2005] Yes…They did not want us investing in this…. They never expected us to find out about it…. The number of hit pieces run on these currencies is unreal…and these are the same people that ran the articles about the Kuwait dinar RV not being real…and we know that was 100% real…originally it was only supposed to be for the elite and their friends…but then the public found out…so they do their best to try to make us give up…. So, do you believe the political operatives trying to protect the banking elite…or do You believe people like Dr. Shabibi and the people at the other end making the RV happen for the Iraqi people?
4-4-2022 Newshound Guru Pimpy It appears Sadr has turned the hen house over to the foxes. This is not good. This is the opposite of what Sadr wanted to do. He was trying to rid the government of corruption and the very corrupt people he was going after he has now turned over the country to them...he won the majority blocks but it doesn't do no good if you can't control the number of votes on the parliamentary floor...He's still short enough members of parliament to get anything passed and that includes setting up the government...
4-4-2022 Intel Guru MarkZ [via PDK] I am getting a lot from military contacts that expect the RV to move this week –before the week is out...
4-4-2022 Newshound Guru Clare Article: "Lawyers and observers propose an extension of the Al-Kazemi government for a year to pass the budget, complete the dues, and overcome the political blockage". ANOTHER GREAT SOLUTION! WOW!!! WHO DOESN'T LIKE THIS ONE! LOL...
4-4-2022 Newshound Guru Sandy Ingram Article: "Iraq's oil export revenue hits monthly high since 1972: ministry". Iraq exported more than 100.56 million barrels of crude oil in March, bringing in revenues of $11.07 billion US dollars, the highest monthly revenue since 1972...The average selling price for crude oil during the month of March was approximately a hundred and ten dollars and nine cents per barrel.
4-4-2022 Intel Guru MarkZ [via PDK] Strange article out of Iraq: “The federal court rejects the lawsuit filed regarding raising the price of the dollar” What I am being told out of Iraq is the reason they did this is not enough of an exchange rate…120,000 dinar for every $100 US dollars…but that also they had already determined the timing and have another case they have to hear on April 6th already as to what to do post-Rv…. So I am getting mixed news out of Iraq right now…I am being told not to pay attention to this article because they have already set the timeline and the new value. My contacts in iraq are still expecting the new rate in Iraq this week.
4-4-2022 Newshound Guru butterfly Article: "Federal Court dismisses a case against the Iraqi dinar devaluation"
4-4-2022 Intel/Newshound Guru BGG Article: "The Federal Court rejects the lawsuit filed regarding raising the price of the dollar" Quote: "The Federal Supreme Court rejected, on Monday, April 4, 2022, the lawsuit related to the re-exchange of the US dollar in relation to the Iraqi dinar to its predecessor, at an amount of 120 thousand Iraqi dinars for every 100 US dollars."
4-4-2022 Newshound Guru Pimpy This is great news... Article: "Iraq achieves the highest financial revenue from oil exports in 50 years" You could say whatever you want about this invasion that's going on but it's definitely benefiting Iraq.
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