Friday, May 28, 2021

WOTS THU MAY 27 21 Opening of the Iraq reconstruction and investment exhibition in Erbil

 WOTS THU MAY 27 21 

Opening of the Iraq reconstruction and investment exhibition in Erbil

No My FX Buddies podcast today.

Exchange rates of the dollar in the local markets on Thursday (May 27, 2021), according to the monitoring of specialists.   

  

Baghdad - Al-Kifah Stock Exchange
149,500.... Theprice in exchange (approximate)149,000150,000————————————————  


Basra / Stock Exchange  

149,600  

——————————
Erbil / Bursa  

149,350  

——————————
Mosul / Bursa  

149,500  






The Markets:
The Asian markets closed mixed NIK down by .33% HSI down by .18% SHANG up by .43%
The UK markets are currently trading in the green mostly from .01% to .62% in the red from .06% to .30%
Our futures are currently trading down  DOW at 34254 down  by .08% SNP at 4182.75 down by .24% NDX at 13640.25 down  by .44%

Precious Metals:
Gold is red at 1895 Silver is red  at 27.75 Copper is green at 454 Platinum is red at 1192 
Brent 68 WTI  65   Bitcoin: 39,317 10 yr yield: 1.58

Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1440.4000  1489.7000 1458.3000 1458.0000 1458.0000  1.7000 11:20
 USD/VND  23045.0000  23065.0000 23055.1600 23052.8100 23055.1600  -2.7500 22:46
 USD/CNY  6.3740  6.3760 6.3952 6.3734 6.3904  -0.0163 05:32
 USD/KWD  0.3003  0.3013 0.3004 0.3003 0.3004  -0.0001 05:13
 GBP/USD  1.4133  1.4134 1.4139 1.4091 1.4114  0.0019 05:32
 USD/IRR  42000.0000  42210.0000 42097.5000 42097.5000 42097.5000  0.0000 00:00
 USD/IDR  14291.0000  14291.0000 14319.0000 14269.0000 14282.0000  4.0000 05:32

Things in the News:

New American status symbol: Backyard that's basically fancy living room...

In Tight Housing Market, Thousands of Homes Reserved for Certain Buyers...

AIRBNB Future About 'Living,' Not Just Travel...



Iraqi Articles:

Oil prices are declining and Brent stays at $ 68.37 a barrel

link


On Thursday, oil prices witnessed a noticeable decline, amid fears that the market may face a flood of Iranian barrels, if the sanctions imposed on Tehran are lifted.

Brent crude declined for the month of July, 0.52%, to reach 68.37 dollars a barrel.

And the price of US West Texas Intermediate crude, for delivery next July, decreased by 0.47%, to reach $ 65.90 a barrel.

The ministers of the Organization of the Petroleum Exporting Countries and its allies will meet on the first of next June, to assess the market situation and their production policy.

Opening of the Iraq reconstruction and investment exhibition in Erbil

link

The Ministry of Trade announced the launch of the Iraq Reconstruction and Investment Exhibition for the period from 26 to 29 May.

The exhibition is organized by the Turkish "Sofwar" company for organizing exhibitions and conferences, in cooperation with the Erbil International Fair, in coordination with the Ministry of Trade, and in the presence of a large number of officials, businessmen and a large number of media professionals in the province.

The director general of the Iraqi Exhibitions Company, Sarmad Taha, said in a statement to the ministry that the Euphrates News Agency received a copy of it.
He stated, "The exhibition is an important step aimed at stimulating the economy, which is witnessing a recovery in Erbil. It is also an important opportunity for investment and encourages Arab and foreign companies to enter into an investment competition to reconstruct the infrastructure and areas damaged by terrorist acts."
He noted, "The Iraq reconstruction exhibition in Erbil coincides with the opening of the Nineveh Energy, Reconstruction and Investment Exhibition

Al-Saadi: Al-Kazemi is implementing an American plan to return Iraq to 2014

link

Political analyst Muhammad Karim Al-Saadi warned, Thursday, of an American plan implemented by Prime Minister Mustafa Al-Kazemi in order to drag the country towards violence and restore the 2014 scenario, in order to thwart the electoral process and go towards the emergency government to ensure that foreign forces remain inside the country.

Al-Saadi said in a statement to "the information", that "Al-Kazemi kept silent in front of the American bombing of the Popular Mobilization Forces in Al-Qaim, and no inhabitant moved in front of the screams of the people of the crowd canceling their contracts, and he went towards arresting some of its leaders under false pretenses.

He added, "The available data indicates that the government is leading the country towards chaos and internal strife, which makes the situation very fragile, as it is intended to repeat the 2014 scenario."

Al-Saadi explained, "The American administration does not like the situation in Iraq or the removal of its forces from its lands, as statements by the political parties confirm that Al-Kazemi is leading an American plan to ignite the fuse of fighting and drag the country towards chaos and violence, with the aim of forming an emergency government and postponing the file of removing American forces from Iraq .

Al-Fatlawi: The government bears the responsibility of besieging the people economically

link

 

On Wednesday, Fadel Al-Fatlawi, the representative of the Al-Fateh Alliance, held the government responsible for the deterioration of the people's economic situation after the decisions it had made regarding the dollar and the curfew, pointing out that Parliament is currently moving to ensure the improvement of the economic situation and the elimination of poverty.

"The government bears responsibility for what the people suffer from a great deterioration in the living situation, especially after the measures it has taken regarding the comprehensive curfew during the past days, as well as raising the dollar exchange rate," Al-Fatlawi said in a statement to Al-Maouma.

He added that " Iraq needs an economic rescue plan to improve the level of per capita income, eliminate unemployment, and reduce prices to an acceptable level, which is what the government must do."

Al-Fatlawi explained, "There are moves within Parliament in order to ensure a change in the citizen's economic reality, and to improve the living situation in line with the requirements of the stage."


CBI Update:  Just  a note:

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 CBI for rate is 1460

The currency auction For May 27th, 2021 total sales amount $152,899,152 . 

including   $3,850,000. CASH 

ISX Update:   

www.isx-iq.net/

Shares Traded: not updated for today
Value Traded: not updated for today 

5-27-2021   Newshound/Intel Guru BobbyC   [reference Guru NORV post 5-26-2021]  I get the fact that they are not ready. Some say that if they were going to re denominate, why not just do it. Reasoning is they still have to have a monetary and economic policy that supports such a move. Monetary wise ya have to look at the weakness of the Banking Sector and amount of currency in and out of those Banks. Economy wise look at the dependency on oil revenue and no economic growth. So if they were to place the IQD as a currency reserve why a Peg?  Now could they Float once they see stability within the exchange rate? Of course they could, countries do it all the time. Both the CBI and the IMF have stated a Peg to the USD is working and in my opinion, will work if and when the IQD becomes a reserve currency. Now...does it really matter if they Float or Peg once they become a reserve currency?  No. Once that happens we will see 2 options in front of us and our decision will be made.   A re denomination, or...a gradual increase...
5-26-2021   Intel Guru MarkZ   [via PDK]   There is interesting news on Basel 3 implementation on June 28th….I am told there is a new banking system all around the world and banks are scrambling to be ready by JUNE 1st. I think that is a key piece for us too.

5-26-2021   Newshound Guru MilitiaMan  One article says 1 trillion dollars worth of stuff has been stolen since 2003.  I remember specifically that Interpol found 180 billion dollars they may very well have now or will be getting it shortly.  We know that was stated public information...even that much money added to the reserves is incredible.  Let's not forget 2018/2019 on the Syrian border they picked up 40 tons of gold.  As far as I know they have not allocated to the 94.6 tons.  These guys really have the money.

5-26-2021   Newshound Guru NORV  [aka Guru Kaperoni] They will not float until the conditions are appropriate. But floating is what countries do. So Iraq will float...the questions is when are the conditions appropriate? First they need to diversify and launch a private sector, then they need pressure create on the CBI's capital account from investment. They need laws to encourage this investment. In other words, they are not ready.

5-26-2021   Newshound/Intel Guru Petra  ...All activities, all laws, everything have to be resolved by a certain date...there were a couple articles. 1. The citizens are very upset and they're taking it to the streets.  They even reference the activities of October 2019 right after Allaq made the comment 'don't go crazy we're bringing out the new notes etc etc...we're bringing up the purchasing power.'  Of course we know what happened in 2019.  It was terrible.  The citizens are getting to that point of anger again...IOO it's clear that there are things that need to be done and Saturday seems to be a key meeting that needs to occur. 

5-26-2021   Intel Guru Frank26  There are many telltale signs that Iraq is going through a monetary reform.  We told you on the 20th the governor of the CBI was going to come out and tell you 'look I competed a lot of things'...the CBI is trying to say, 'we're done'...What's competed?  Every step required for the monetary reform.  When you look at the fact that they're connected internationally.  When you look at the amount of gold they have piled up.  When you look at the contracts.  When you look at...they had two meetings.  One with 500 banks and another with 300 banks.  Come on! ... Why is the CBI so important?  Do you know of any other country in the Middle East who's currency is about to go up in value?

5-26-2021   Intel Guru MarkZ   [via PDK]   I think its going to be an exciting next few days…..many are saying that the 26th-28th-- are going to be big days...There is a serious NDA crackdown. I thought they were already pretty tight but they really worked them over. I talked to a few people from 2 different areas where they are handling redemption things …you cant get them to say anything… I respect that and I am ready…looks like there is just a short time left to play this game. 

5-26-2021   Newshound/Intel Guru Mnt Goat    Article:  "IRAQ IS FACING A DATE TO OFFICIALLY RESTORE THE PREVIOUS DOLLAR EXCHANGE RATE"  ...When they come out raising the dinar rate they are going to go big.  Much bigger than the previous program rate.

5-26-2021   Intel/Newshound Guru Holly   ...The news I am hearing we are in the window for this by the end of the month and possibly as early as today. There is a rumor going around that the Dubai funds have been released. The D’s I talk...about...are Dubai 1, Dubai 2, and Dubai 3 which funds the rv.  I do not have confirmation they have funded as of yet...All the banks are getting ready for the new banking system, the QFS which will begin on June 1st... 

5-26-2021   Intel Guru Frank26   Iraq central bank has added a ridiculous amount of gold and other assets to back up their currency and it’s rather insulting to think that this mountain of gold is for a stupid program rate.  The Kurds is what we were looking for but I also want you to take note China is not as stupid as they are cruel to see them pour in billions to get oil from your country because they cannot get it from Iran is only going to make your Country very rich and that’s just one of the endless countries that are coming into your economic reform and all because the monetary reform was done correctly properly and Proficiently with the Fab four and the whole international world knows this and loves it...and yes the governor of the CBI on the 20th completed everything.  [post 2 of 2]

5-26-2021   Intel Guru Frank26   [Mr Frank Erbil and Baghdad budget agreement will be implemented!]  I know...we saw those three days ago and I’m rather excited because in my opinion I believe this is related to the monetary reform as well because Kurdistan did not want any more delays... [Mr. Frank you were right about the 20th and we are kind of excited here especially with disagreement on the budget because it seems like the Kurds we’re pushing for the HCL]  ...everything waits for the new exchange rate but I think the waiting is coming to an end...  [...this is our oil and gas deal our HCL isn’t it.]  Yes...and the next thing you will receive is purchasing power in your currency oh and by the way stop and think about it.....    [post 1 of 2....stay tuned]


Catnip's Corner:
************
ARTICLE 1 (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister, Commander in Chief of the Armed Forces, Mr. Mustafa Al-Kazemi chairs a meeting of the Ministerial Council for National Security

The Prime Minister and Commander in Chief of the Armed Forces, Mr. Mustafa Al-Kazemi, chaired a meeting of the Ministerial Council for National Security, which was devoted to discussing security developments.

The Commander-in-Chief of the Armed Forces, Mr. Mustafa Al-Kazemi, said during the meeting: that Iraq is going through a sensitive stage, and this government was formed with the aim of addressing the challenges that the country went through as a result of long accumulations, and almost went the situation to a dangerous deterioration.

His Excellency added that the movements carried out by armed groups in Baghdad today are a serious violation, not only of law and order, but of the Iraqi constitution.

The Commander-in-Chief of the Armed Forces also indicated that the constitution defines the powers of the authorities and that the government is responsible for the executive tasks and implements what is issued by the judiciary in accordance with legal notes. The judiciary is the one who determines the guilty and the innocent, after the executive authority completes its role.

Al-Kazemi added that there are those trying to create security and political crises for the purpose of electoral competition or obstructing the elections, and if this government had political ambitions, it would have acted as previous governments worked to form a political bloc of their own and enter the elections, but we did not do that, even though all opportunities are It was available to us, and we adhered to our goal of clearing the electoral climate and avoiding Iraq from further crises.

His Excellency added: We have worked with all strength and sincerity in order to dismantle the accumulated crises that we inherited from previous governments, economically, securely, politically, socially and internationally, and we have succeeded in some of them, and there are crises that need more time to dismantle and deal with them.

The Commander in Chief emphasized that this government is not a retaliatory government, nor is it a government of political liquidations, but rather a government that worked to serve Iraq and its people.

Media Office of the Prime Minister
26-May-2021

*************
ARTICLE 2 (from Government of Iraq twitter account)

PM @MAKadhimi issues orders to open a transparent investigation to uncover the circumstances of what happened in the last moments at the Tahrir Square demonstration yesterday. PM confirms his support for freedom of peaceful protest and the need to protect the demonstrators.

*************
ARTICLE 3

The Kurdistan region hands over hundreds of wanted persons to Baghdad
May 26, 2021

Joint coordination between Baghdad and Erbil resulted in cooperation in the judicial files.

A Kurdish official in the Kurdistan region of Iraq said today, Wednesday, that the judicial authority in the region has handed over hundreds of detainees to the Iraqi courts in Baghdad, confirming that there is high-level coordination between the two parties regarding judicial cooperation.

The head of the Erbil District Court of Appeal, Judge Prime Ismail Khushnau, confirmed in a statement to the official Iraqi newspaper Al-Sabah that the Supreme Judicial Council in the Kurdistan region handed over the federal courts in Baghdad to hundreds of wanted persons present in the governorate of Erbil during the recent period, indicating that "there is great coordination." "Between the two sides to facilitate the extradition procedures and the exchange of wanted persons, whether regarding those wanted by the federal government or the Kurdistan region.

He pointed out that the Judicial Council in the region applies federal judicial laws, as it is part of the Iraqi state, stressing that “the committee formed between the Federal Supreme Judicial Council and the Kurdistan Region’s judiciary continues to facilitate procedures for the implementation of arrest warrants against wanted persons between the two parties, exchange information, and facilitate the process of their transfer to Courts from which arrest warrants were issued. 

For his part, the leader of the Barzani Party, Majid Shankali, denied in an interview with Al-Araby Al-Jadeed today, Wednesday, that the handover of the wanted came under pressure on the region from Baghdad, or by certain political parties.

He said that there is great coordination between Baghdad and Erbil, noting that this coordination has resulted in cooperation on judicial files, and that this cooperation is in the interest of the common relationship, which culminated in the vote on the budget and military coordination between the Peshmerga and the army in the disputed areas, according to the understandings and dialogues between the two parties. .

He explained, "Most of the wanted persons are accused of criminal and terrorist cases, and a year and a half ago, the regional government handed over Baghdad to a group of wanted men," indicating that "efforts are continuing to exchange wanted persons with criminal and terrorism."

In turn, the deputy from Kirkuk, head of the parliamentary human rights committee, Arshad al-Salihi, said in an interview with Al-Araby Al-Jadeed, that "the handover of those involved was done in coordination between the Judicial Councils in Baghdad and Erbil, and that the file was long overdue in Kurdistan and this delay is not correct." To centralize the judiciary in the country.

He explained, "We have not seen the files of these people yet, but we learned that among them are those accused of terrorism and criminal charges, and of cases related to state security. They were arrested between 2014 and 2017 and were placed in the region's prisons."

During the past period, demands have escalated from political forces in Baghdad to resolve this file, and to force Erbil to hand over prisoners to Baghdad, and they are from the provinces neighboring the region, most notably Kirkuk, Nineveh, and Diyala.

The region’s authorities had arrested hundreds of wanted people in areas within the region or in the disputed areas, including Kirkuk, which was administered by the Kurds before the Kurdistan Region’s referendum at the end of 2017, which resulted in the entry of Iraqi forces into Kirkuk and the removal of Kurdish forces and their administration from the governorate.

This is taking place at a time when some forces in Baghdad are engaged in the movement to legislate a general amnesty law during the period preceding the holding of the parliamentary elections, scheduled for the tenth of next October.

*************
ARTICLE 4

Wed May 26, 2021 19:35
The Minister of Industry discusses with the Iraqi Minister of Culture issues related to the tourism sector

The Minister of Industry, Commerce and Tourism, Chairman of the Board of Directors of the Bahrain Tourism and Exhibitions Authority, Zayed bin Rashid Al Zayani, received at his residence in the capital Riyadh, Minister of Culture, Tourism and Antiquities of the Republic of Iraq, Dr. Hassan Nazim, within the framework of the Conference on Tourism Promotion and the 47th Meeting of the Regional Committee of the World Tourism Organization organized by the Ministry of Tourism In the Kingdom of Saudi Arabia from 26 to 27 May.

During the meeting, a number of issues and developments related to the tourism sector in the region were discussed. In this context, the minister reviewed the economic situation in Bahrain and the facilitating procedures that the esteemed government of Bahrain follows in order to provide the appropriate atmosphere for the establishment of investment projects, especially those related to the tourism sector in the country.

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ARTICLE 5

May 26, 2021

Iraq's Basima Abdulrahman, founder of Kesk, wins $100,000 Cartier Women’s Initiative Award

The climate trailblazer is the Middle East winner of the annual prize, which supports female entrepreneurs around the world

Basima Abdulrahman has been named the 2021 winner of the Cartier Women's Initiative, for the Middle East and North Africa region. 

Cartier has announced the eight winners of its 2021 Women's Initiative Awards, with Basima Abdulrahman from Iraq scooping the top prize for the Middle East, for her company Kesk.

"Being named as a Cartier Women's Initiative laureate is a huge step forward, as it shows that no matter where you come from, you can always dream big," Abdulrahman said following the announcement.

The competition
Since launching in 2006, Cartier Women's Initiative has supported female entrepreneurs around the world.

The annual prize aims to support women-run and women-owned businesses that have a strong and sustainable, social, or environmental impact. Open to any country and any sector, the award is intended to drive change by empowering women entrepreneurs.

There are eight categories, and the winning laureate in each category receives $100,000, while runners up receive $30,000.

All 24 finalists will receive one-on-one mentorship, attend workshops and be trained in media visibility. They will also join an Insead Business School impact entrepreneurship programme. To date, the award has supported over 260 women entrepreneurs from more than 60 countries, and has handed out $4million in prize money.

For 2021, a new category of Science & Technology Pioneer Award was launched, and applicants from Mali, Iraq, and Myanmar were accepted for the first time. The final 24 have been selected from 876 applicants from 142 countries, Cartier said.

Speaking ahead of the ceremony, Cyrille Vigneron, president and chief executive of Cartier International, said: “Women have always had a pivotal role at Cartier, both as a driving force and an endless source of inspiration.

"In these challenging times, they are more admirable than ever, proving their resilience in the face of adversity and their ability to create concrete and durable solutions not only for themselves but for their communities and the world at large.

"It is our honour and pride to support these women who keep pushing the boundaries in order to make the world a better and more equal place.”

The winner: Kesk

Abdulrahman's prize winning company, Kesk, was founded to help reduce the difficulties faced by many Iraqis in need of a stable electricity supply.

Hailing from Iraq, Abdulrahman knows first hand the difficulties of navigating the summer heat on a few hours of electricity a day. As the national grid struggles to keep pace with demand, Iraqi citizens are often left trying to cope with temperatures of up to 50 degrees centigrade with little or no air conditioning.

“The electricity crisis has been a big deal. People protest about it once or twice a year,” Abdulrahman explains. “Iraqi citizens get no more than 12 hours of electricity from the main grid each day. Iraqis are searching for alternative sources of energy.”

*************
Posted by at No comments:

Thursday, May 27, 2021

WOTS WED May 26 21 The Iraqi government bears the responsibility of besieging the people economically

 WOTS WED May 26 21

These are the articles I discussed on the My FX Buddies Podcast 

A deputy calls for the parliament to withdraw confidence from 4 ministers and the governor of the Central Bank

link 

Representative Manar Abdul Muttalib called, on Wednesday, the House of Representatives to question 4 ministers in Mustafa Al-Kazemi's government, and to withdraw confidence from them.

"The ministers of finance, industry, electricity, interior and the central bank governor must withdraw confidence from them, as a result of their negligence in the tasks assigned to them," Abdul-Muttalib said in a statement to the agency.

She added, "The Minister of Interior in his capacity is responsible for security in the country, as well as the Minister of Finance as he is responsible for raising the dollar exchange rate and increasing poverty and unemployment, as well as the governor of the Central Bank in addition to the accountability of the Minister of Electricity and Industry."

And considered that "the electricity and industry of the ministries of the most waste of public money over the past years."

And Abdul-Muttalib stressed, "The need for the parliament to take its real role in holding the official accountable, regardless of his job grade." 



Sulaymaniyah and Erbil exchange accusations after a financial and administrative dispute

link


The Patriotic Union of Kurdistan denied, on Wednesday, that the Sulaymaniyah governorate administration refused to hand over its financial resources to the Kurdistan Regional Government, while accusations escalated between Erbil and Sulaymaniyah regarding the revenues, at a time when some party parties close to the Kurdistan Democratic Party accused the Union of seizing customs capabilities In Sulaymaniyah.
In a report reviewed by the information, the National Union website quoted a member of the parliament of the Union bloc, Sarko Azad, as saying that “the statements made by some parliamentarians about not handing over the Sulaymaniyah governorate's imports to the Kurdistan Regional Government are false and that the statements made by some parliamentarians about the incomes of the Sulaymaniyah Governorate are not correct".
He added, "The imports of the border crossings and the rest of the departments are received by the Ministry of Finance, and there are government institutions that receive these sums, and there is no party that controls imports in Sulaymaniyah province, as some parliamentarians claimed."
He explained that “the imports enter into the account of banks and government institutions and are sent directly to the treasury of the Ministry of Finance.
The head of the Patriotic Union of Kurdistan bloc in the Kurdistan Parliament, Ziyad Jabbar, announced that the Sulaymaniyah governorate will hand over more than 571 billion dinars from the province’s revenues to the Kurdistan Regional Government’s treasury within 4 months.
Ziad Jabbar said, "The governorate delivered 161 billion dinars to the government’s treasury during the first month of this year, and the same amount was delivered in the second month, which is from the governorate’s revenues."
He added that "the province handed over 133 billion and 400 million dinars of its revenues to the government during the third month, and it also handed over the fourth month's revenues, which amounted to 116 billion dinars."
According to the head of the National Union bloc in parliament, "Sulaymaniyah will thus have delivered 571 billion dinars to the treasury of the Kurdistan Regional Government during the four months of this year, which is the revenues of Sulaymaniyah Governorate."


Kurdish delegation will visit Baghdad next Sunday to present data for the region's employees

link


A spokesman for the Kurdistan government, Gutiar Adel, confirmed, on Wednesday, that a delegation from the region will visit Baghdad next Sunday to present all the data of Kurdistan employees.
Adel said in a press conference, "A delegation from the region will visit Baghdad next Sunday to present all the data of the Kurdistan Region employees."

He added, "Prime Minister Masrour Barzani sent on April 15 a letter to Baghdad informing them of the approval of the implementation of the budget," indicating that "the regional government is obligated to pay the salaries of all employees in the region."

He pointed out that "the salaries of employees will be distributed to all ministries in the coming days."
And on the agreement between Baghdad and Erbil on military operations rooms, Adel commented, "The agreement between Baghdad and Erbil regarding filling the gaps between the border areas has begun to be implemented, as well as the start of work in the military operations rooms between the two parties


Iraqis launch a campaign against the United Nations mission and Blashardt: 'UNAMI is the partner of the killers'!

link

this is a twitter campaign that is going on in IRaqi   

 

On Tuesday, Iraqi bloggers launched a campaign against the United Nations Mission in Iraq, accusing it of "collusion" with the existing regime in the country and its "participation in murder and corruption."  

 

The tag "UNAMI, the partner of the killers," (26 May 2021) was issued on Twitter for Iraq, against the background of the violent incidents that affected the demonstrators in Tahrir Square, leaving two victims and dozens of wounded and detained.  

Reactants published the mission’s logo upside down, expressing their "condemnation of the mission's stances identified with the power parties and militias."

me_ga.php?id=19197

 

 

 

One blogger wrote, “The blind world organization about what happens in the killing of Iraqis by a repressive political regime,” while another said that “the international community that recognizes the democracy of this government is a partner in this blood that fell in Tahrir Square.” 

 

me_ga.php?id=19199


The violence and repression of demonstrators in Tahrir Square, on Monday evening, left at least two victims and dozens of wounded and detained.

 

The Central Bank of Iraq announces additional profits from negotiations on interest rates

link

The Central Bank of Iraq announced, on Wednesday, the achievement of additional returns in the first quarter of 2021, citing the reason for adopting the principle of self-management of investments.  

 

A bank statement said, "Nas" received a copy of it (May 26, 2021), that it "achieved additional returns in its investments during the first quarter of 2021 compared to the fourth quarter of last year," adding that "this came as a result of adopting the principle of self-management of investments within His efforts in adopting international best practices in investment management that allow greater flexibility and control, benefiting from the electronic trading platforms owned by this bank, and training specialized technical cadres to work on them.  

The Central Bank confirmed that "working according to the above mechanisms and practices achieved additional returns resulting from the difference in negotiating interest rates with correspondents, at a rate of more than 1% of the total returns achieved on this bank's investments for the first semester of 2021." 


A “major” split hits Maliki’s coalition

link

A representative source in the State of Law Coalition revealed, on Wednesday, the defection of ten deputies from the coalition led by former Prime Minister Nuri al-Maliki. 

The source said, to Shafaq News Agency, that "10 out of 25 MPs decided to defect from the State of Law coalition."    

The source pointed out, "These representatives have formed different electoral blocs of their own, according to the multiple electoral districts to participate in the next House of Representatives elections." 

The Parliamentary State of Law Coalition includes 25 members in the Iraqi Council of Representatives, in addition to its leader, Nouri al-Maliki.

The "state of law" is an Iraqi political alliance led by Nuri al-Maliki, which split from the Iraqi National Coalition, which was gathering all Shiite forces.

The next elections are scheduled to be held on October 10, according to what the Iraqi Council of Representatives voted to set a date for in a session held on January 19, 2021, amid government pledges to hold fair elections away from the power of weapons.


Al-Fatlawi: The government bears the responsibility of besieging the people economically

link

On Wednesday, Fadel Al-Fatlawi, the representative of the Al-Fateh Alliance, held the government responsible for the deterioration of the people's economic situation after the decisions it had made regarding the dollar and the curfew, pointing out that Parliament is currently moving to ensure the improvement of the economic situation and the elimination of poverty.

"The government bears responsibility for what the people suffer from a great deterioration in the living situation, especially after the measures it has taken regarding the comprehensive curfew during the past days, as well as raising the dollar exchange rate," Al-Fatlawi said in a statement to Al-Maouma.

He added that " Iraq needs an economic rescue plan to improve the level of per capita income, eliminate unemployment, and reduce prices to an acceptable level, which is what the government must do."

Al-Fatlawi explained, "There are moves within Parliament in order to ensure a change in the citizen's economic reality, and to improve the living situation in line with the requirements of the stage."


The Daily WOTS "Word on the Street" report is here 

The exchange rates of the dollar in the local markets on Wednesday (May 26, 2021), according to the monitoring of specialists.   

 

Baghdad - Al-Kifah Stock Exchange  

149,150  

....  

Price in exchange (approximate)  

148,500  

149,500  

————————————————  

Basra / Stock Exchange  

149,250  

——————————  

Erbil / Bursa  

149,075  

——————————  

Mosul / Stock Exchange  

149,200 


Midday update to the rates over 1500 

the exchange rates of the dollar in the local markets on Wednesday, according to the monitoring of specialists.

Price in exchange (approximate)

149,750

148,750

Basra / Stock Exchange

150,000

149,000

Erbil / Bursa

149,750

148,750



The Markets:
The Asian markets closed up NIK up by .31% HSI up by .88% SHANG down by .34%
The UK markets are currently trading in the green mostly from .14% to .52% 
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Precious Metals:
Gold is red at 1711 Silver is red  at 25.79 Copper is green at 404 Platinum is red at 1170 
Brent 68 WTI  65   Bitcoin: 39,752 10 yr yield: 1.57


Things in the News:

Iraqi Articles:


CBI Update:  Just  a note:

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 CBI for rate is 1460

The currency auction For May 26th, 2021 total sales amount $148,600,000 . 

including   $7,750,000. CASH 

ISX Update:   

www.isx-iq.net/

Shares Traded: not updated for today
Value Traded: not updated for today 

5-26-2021   Intel Guru Frank26   [Mr Frank Erbil and Baghdad budget agreement will be implemented!]  I know...we saw those three days ago and I’m rather excited because in my opinion I believe this is related to the monetary reform as well because Kurdistan did not want any more delays... [Mr. Frank you were right about the 20th and we are kind of excited here especially with disagreement on the budget because it seems like the Kurds we’re pushing for the HCL]  ...everything waits for the new exchange rate but I think the waiting is coming to an end...  [...this is our oil and gas deal our HCL isn’t it.]  Yes...and the next thing you will receive is purchasing power in your currency oh and by the way stop and think about it.....    [post 1 of 2....stay tuned]
5-25-2021   Intel Guru MarkZ   [via PDK]  [ I found Vietnamese dong this week for sale...]  Yes you can still find it places…but there is not much supply …but Vietnam is trying to digitize their economy…90% of all transactions in Vietnam are now done digitally…they are trying to get the paper currency off the streets.  [Have you heard reports of dong rates being as high as $3.80?]  Yes I am hearing reports of $3.85. Consider it rumor for now so we are not disappointed…but I am definitely hearing those numbers right now.

5-25-2021   Intel/Newshound Guru Holly   I am told today should also be a day when things start. ...We are in the window. I’m told from all sources this week will be a great week. Many are not talking which is a great sign.

5-25-2021   Intel Guru Sheila   [via MarkZ]   I believe that between today and Saturday this will all be over. Our new banking system is ready to go officially on June 1st.

5-25-2021   Newshound/Intel Guru Mnt Goat   Article:  "THE HOUSE OF REPRESENTATIVES RESUMED RAISING THE ISSUE OF RAISING THE PRICE OF THE DOLLAR"   ...What they do not tell you in the article is part of this session was a CLOSED DOOR session and they discussed the project to delete the zeros and the rate of a revaluation. The finance ministry wants the rate very low at about 30 cents while the Central Bank has already said they are going to revalue at about 1:1 with the US Dollar. This is the dispute now. The Central Bank would like to get full support from the finance ministry but technically does not need it. We wait to see what happens next.

5-25-2021   Newshound/Intel Guru Petra  We study the articles.  That's the only resource we have.  We dig deep into those articles and pull out what I think are nuggets.  And I'm telling you [what] we saw the last several weeks...I honestly thought this thing was happening last weekend.  I honestly did.  I woke up Sunday morning thinking this is the day and it wasn't.  I was thinking...why did I put myself in the position to think that it would happen because we are dealing with a unique entity called Iraq...but I thought about it and thought about it and more articles came out and there was something else that I missed...I do believe we are in the final motions of the CBI.  It's evident by what's going on in the world...It's all coming together...

5-25-2021   Intel Guru MarkZ   [via PDK]   [Do you think we are going by June 1st?]  Yes I do…I am still getting a solid steady stream from banking sources…I was told they are sending teams all over the place doing tests on transactions…most are successful...there are still a few glitches but they are busy working through those things…They are expecting things to break loose–tied to another event as a cover…what that is-I don’t know?  But, It’s an exciting time to be alive.  I am not sharing some things because I was asked not to…buckle up buttercup…we have been leaned on by the banking community to not share many of the details…the last thing we want to do is being responsible for delaying this thing.

5-25-2021   Intel Guru Frank26  I said for me it's less than years, it's less than months, it's less than weeks, it's within days and I still believe that sincerely because everyday that has gone by has been so significant.  Everyday that I've said that to you has been filled like a pregnant rhinoceros...I mean this is stuff that's big.  Everyday you can see...there is a date when they're going to release the new exchange rate and that date is written in titanium.

5-25-2021   Newshound Guru MilitiaMan   Article:   "The President of the Republic presents a bill to recover the stolen money and hold the corrupt accountable"  Quotes:  "...Iraq has lost a thousand billion dollars since 2003 due to corruption";  "...150 billion dollars were smuggled into the countries of the world through corruption deals..."  Recovering $1 trillion in stolen money and put back into the coffers will go along way in maintaining the new exchange rate. imo...Even $150 billion would be nice...


Catnip's Corner:
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ARTICLE 1 (from PM Kadhimi's website)

At the time this report was submitted, there are no new articles posted on PM Kadhimi's website.

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ARTICLE 2 (from Government of Iraq twitter account)

At the time this report was submitted, there are no new tweets posted on the Government of Iraq twitter account.

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ARTICLE 3

A government move to launch a package of roads linking Baghdad with the provinces
Local | 08:20 - 25/05/2021
Baghdad - Mawazine News

The Parliamentary Services and Reconstruction Committee confirmed, on Tuesday, that there is a tendency to launch a package of roads linking Baghdad with the provinces.

A member of the committee, Jasim Al-Bakhati, said, according to the official agency, that "there is a joint committee of reconstruction, housing, municipalities and the investment commission to launch a package of roads linking Baghdad and the provinces," noting that "these roads have international specifications and can be investment opportunities including them." Basmayah Street, Baghdad, 20 km, and the road that connects Yusufiya, the city of Rasheed, in the Laj region, by 14 km, in addition to a special road in the Nabai area that connects Baghdad with quarries related to space by 18 km.

On the other hand, Al-Bakhati revealed that "the issue of selling and renting government lands and referring them to investment has been exploited by corrupt employees, as some projects have been referred with small sums, symbolic rents and hidden agreements that do not rise to ambition." In the projects, especially since their implementation distorted the appearance of the capital. "

With regard to the reality of services in Baghdad, Al-Bakhati pointed out that "the Baghdad Municipality pledged to repair Al-Ameen Bridge during the current month of May, but it was late in implementation and it is now open to citizens without conducting rehabilitation operations on it."

Al-Bukhati called on the municipality to "pay attention to the Al-Amin area and the new Baghdad as well as the Al-Ghadeer and Zayouna areas, as they are vital areas and need intensive operations to cover the streets there, especially after appealing to the people and submitting complaints to the committee in this regard."

And he called, "to pay attention to the entrance to New Baghdad from Muhammad al-Qasim towards the nursery, as well as from the nursery towards Street 77, as these streets do not have lighting services," noting that "the role of the committee lies in monitoring the errors and dealing with them by the concerned departments and not personally targeting."

He continued, "There is high coordination between the secretariat, the administrative units and the concerned municipalities to carry out a major campaign to rehabilitate Sadr City, as the funds have been allocated to it."

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ARTICLE 4

Politician: Acting on the Federal Court’s decision will pursue the criminals within the House of Representatives
19:37 - 25/05/2021

The expert on political affairs, Jassem Al-Mousawi, said, on Tuesday, that the Federal Court’s decision not to grant immunity to members of Parliament except with the issuance of an arrest warrant for an unseen felony, a decision that is very long overdue and its implementation will pursue criminals in Parliament.

Al-Mousawi said in a statement to / Al-Maalouma / that “the Federal Court’s decision came 16 years late against the corrupt representatives who seek immunity and the law,” indicating if “applying the decision correctly, it will be a sword within the House of Representatives.”

He added that "the application of the law by the concerned authorities and in the correct manner, it will pursue criminals in the House of Representatives and those who protect the law and immunities."

He stressed, "The concerned authorities must take the Federal Court’s decision into consideration and work on it and apply it correctly.

It is worth noting that the Federal Court affirmed that there is no immunity for members of Parliament without the issuance of an arrest warrant for an unmarked felony. 25 and ended

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ARTICLE 5

As Polls Show Increasing Dissatisfaction, will Young Shias Turn the Tables on Iraq's Political System? May 25, 2021

The Kadhimi government must move quickly if it wants to avoid a potential popular uprising among dissatisfied Shias in Iraq.

According to the Al Mustakilla Research Group (IIACSS)/Gallup International Iraq recent Opinion Thermometer (IOT) poll conducted in April 2021, Iraqi Shia are showing particularly high rates of dissatisfaction, distrust, and unhappiness regarding their political system when compared to Iraqi Sunnis and Kurds. 

The IOT is a long-term project to assess the state of public opinion in Iraq towards democracy and governance in the country. The overarching goal of the project is to determine whether the state of public opinion in the country is on a trajectory conducive to sustainable and well-functioning pluralistic democracy. While the first survey in the project was conducted in April 2021, the project will periodically track key attitudes in Iraq in order to better understand the societal foundations of the existing political order.

Though there are no official or undisputed figures on the percentage of the Iraqi population that is Shia, most sources agree that they represent almost half of the population. After the U.S. invasion and the establishment of a new political system, Shia had finally obtained their moment for political ascendance in 2003. The new governmental structure meant that Iraqi Shia became the most powerful political force in the country and gave them the upper hand in political decision making; most of the parliamentary seats, ministers, and the prime minister have been Shia. 

As such, and in contrast to Sunni Iraqis, most Shias and Kurds were happy about the fall of Saddam Hussein’s regime. Less than one year after the invasion, whereas only 35% of Sunnis said that Iraq was going in the right direction, the majority of Shia and Kurds—65% and 70% respectively—saw Iraq’s direction in a positive light. More than 80% of Iraqi Shia thought that their lives were significantly improved in 2004.

Yet after more than fifteen years, Iraqi Shia have started to look much less favorably toward the current political system. Shia Iraqis started to realize that Iraq’s current political parties had stolen the popular Shia Iraqi dream of good governance with a prominent voice in policy. 

This dissatisfaction reached its peak in October 2019, when hundreds of thousands of protesters went into the streets in majority Shia governorates to express their frustration and to call for a complete replacement the current political system. This pressure from Shia demonstrators led the Adil Abdulmahdi government to resign at the end of 2019, and the Iraqi parliament chose a new government in May 2020 in order to placate protestor demands. 

Initially, the new government under current Prime Minister Mustafa al-Kadhimi was greeted with much public goodwill. Public expectations for Kadhimi’s government were extremely high, and the Kadhimi government enjoyed a relatively high approval rate in its first six months, around 60% in total and around 50% among Shia. 

However, the recent IOT survey, which was based on a nationwide face-to-face representative sample of 1,200 CAPI interviews, confirms that almost two years after the October uprising, Iraqis in general and Shia in particular are still pessimistic about the direction of their country. In January of 2021, Shia Iraqis’ trust in the government was at 27%, with Sunnis’ trust in the federal government at 46% and Kurdish trust at 55%. 

Now, overall trust in the government is at its lowest point ever: 22% of all Iraqis and just 17% of Shia express trust in the government according to the April 2021 IOT poll. This most recent poll also shows that although 75% of Iraqis in general think that Iraq is going in the wrong direction, the percentage among Shia is even worse (80%). This is the lowest rate of optimism about the country seen since IIACSS began polling in 2003. According to the IOT, Shia are showing higher dissatisfaction rates than Sunnis and Kurds by all measures. While 5% of Kurds, and 16% of Sunnis feel unsafe in their cities, the percent jumps to 25% among Shias. This striking number of one in four Shia could be better understood if we consider that 60% of Shias believe that non-state armed groups—in other words, the Shia militias—are stronger than the government.

Likewise, while almost 50% of Sunnis and Kurds believe that they cannot influence decisions made in Iraq, the percent jumps to 60% among Shias. Along the same lines, 60% of Sunnis feel that not all people are treated fairly and equally by the government, while 70% of Shias believe that as well. There is clearly an immense crisis of trust in Iraq when it comes to how the public views the government. As this is most profound among Iraq’s Shia community—the government’s most important group for its political support, this means that the societal foundation for government legitimacy in Iraq is sorely lacking, and this deficiency in societal support could mean further political instability in the country. It also means that much of the Iraqi public views its government more  as a cause of problems than as the solution for Iraq’s many economic, social, and political challenges.

One might expect that the coming October election may impact this dire lack of public trust in the Iraqi government, but the data unfortunately does not support this optimism. Fifty percent of Sunnis and 60% of Shia are unlikely to vote in the coming election. Furthermore, based on previous elections, the percentage of Iraqis who state that they are unlikely to vote is likely to rise further as election day approaches. 

These numbers reinforce the recent IOT findings, which show that while a small majority of Sunnis (53%) agree that elections and voting do not give them a voice in politics in Iraq, this percentage jumps to 71% among Shia respondents. Accordingly, it is fair to assume that the coming election will witness a low turnout, with the lowest turnout expected in Shia areas. In addition, of those who said that ordinary Iraqis can influence the decision-making process, only 14% of Sunnis, 11% of Shia, and 31% of Kurds believe that voting is the way to do so. Clearly, Iraqis in general and Shia in particular are increasingly convinced that the normal, institutionalized ways of influencing politics and policy in Iraq do not work for them. 

While political apathy produces its own problems, such as allowing corrupt politicians to rule unchallenged, this indifference to voting may also signal a much larger problem. Many Iraqis could be turning against their political system, potentially making them more susceptible to radical, non-system oriented solutions to Iraq’s political problems. Looking ahead, all of this data points to the possibility that the next few few months will witness an acceleration in the momentum of different kinds of protests and expressions of popular dissatisfaction, particularly among Shias. In fact, this data may help explain why there has been an increased number of assassinations of Shia political activists in the past few weeks. These activists, who could play a significant role in changing the political game in Iraq, have been targeted in a desperate attempt to stop the momentum of the so-called October Uprising from returning. 

Yet these recent assassinations are unlikely to stop the expected acceleration of this popular uprising, focused in Shia areas, in the coming weeks. The most important question for Iraqi politics right now is that with these high levels of dissatisfaction with the current state of politics, whether young, angry Shia will be able to turn the tables on the entire political system in Iraq.

Though the aforementioned scenario is very possible and the door to stopping it is gradually closing, there is still a chance for Kadhimi and his government to fix things. Kadhimi can take advantage of the fact that he is not affiliated with the current political parties and the fact that he is often attacked by some of these parties. Moreover, he gets particularly withering criticism from the parties close to Iran.

To arrest the momentum toward more anger among Shias, Kadhimi will have to complete significant reforms on three fronts: 1. Fighting corruption, and there is good evidence that he has already made significant progress on this front; 2. Improving the economy, and the recent jump in oil prices may help with this; 3. Most importantly, degrading the influence and the power of Shia militias. This last challenge could be the master key for all other reforms as it ensures the possibility of his government regaining control over the state. Regaining control over the state of Iraq will be the top challenge for Kadhimi during the coming few months.

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