“Change and Dancing” – Tues. PM KTFA Thoughts, News w/ MilitiaMan 5-11-21

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KTFA

MilitiaMan » May 11th, 2021

Lets see if they iron out the kinks this week. The Government bears the responsibility in paying dues, yet, lets see what do, as they have a political agreement to sort things out. 

Everyone in the ME and around the world is watching and waiting for them to set the terms (mechanism) for international trade… imo It is coming.

Even the pressure from SA is noticeable..  They would be wise to not have another meeting about investments unless of course they meet over the successes from the outcome, that is to come from them.. imo ~MM

Samson » May 11th, 2021

Al-Kazemi: A delegation heads to Kurdistan to solve the disputed territories crisis

9th May, 2021

Mustafa Al-Kazemi, Iraqi Prime Minister, announced that a delegation will head to the Kurdistan region this week to solve the disputed territories crisis.

The prime minister said during an interview broadcast by Al-Iraqiya News Channel, which was followed by the Iraqi News Agency, “INA”, today, Sunday, that the relationship between Baghdad and Erbil today is in its golden age.

Al-Kazemi continued: “I worked with the Kurdish leaders to dismantle the misunderstanding between Baghdad and Erbil,” stressing the need to establish trust between the Kurds and Arabs to solve the disputed areas crisis, indicating that “the region’s dues will reach it soon.”

He revealed “a delegation will head this week to the region to solve the disputed areas crisis,” noting that “we will address the disputed areas crisis with a proposal that Baghdad will present to Erbil.”

LINK

Deputy: Finance bears responsibility for delaying budget execution

14:07 – 10/05/2021

Member of Parliament, Hassan Ali, on Monday, carried the Ministry of Finance the delay in implementing the Federal Budget Law, indicating that the government did not implement any poor budget law.

“There is a slowdown in the implementation of the budget law for 2021 by the Ministry of Finance, which is something the government bears,” Ali said in a statement to Al-Maalouma.

He added: “The upcoming elections and the start of propaganda campaigns for some political parties are other reasons for delaying the implementation of the fiscal budget law for the current year,” ruling out “sending Baghdad the Kurdistan region’s share before holding new talks between the two sides.”

Regarding the agreement between Erbil and Baghdad within the budget, Ali clarified that “my federal and regional governments bear responsibility for the slowdown in Article 11 of the budget, which was concluded with a political agreement.”   LINK

Sadikoun: There is a surplus in the budget, and there is no need to borrow

17:16 – 10/05/2021

“We have an explosive budget and there is a large surplus in it, and there is no justification for the financial representation regarding the need to borrow.”

Al-Fatlawi said in a statement to the agency / information / that “there are major flaws in the Ministry of Finance, and there is no justification for asking for financial representation and the need to borrow because the budget is explosive, oil prices are high, and there is a large surplus in the budget.”

He added, “There are revenues from industry, agriculture, trade and border crossings, and there are large revenues from collection and taxes, and there is no need for us to borrow.”

He pointed out, “The government should take a position on the Minister of Finance and the confusion within the ministry and the need to intervene before dumping Iraq into debt.”

It is noteworthy that Parliamentary Finance called for the need to borrow. 

“”There are revenues from industry, agriculture, trade and border crossings, and there are large revenues from collection and taxes, and there is no need for us to borrow.”  LINK

MilitiaMan » May 11th, 2021

All of the above items will be to support their international exchange rate (REER). Not to mention the recent increase for $1.5 billion in revenues from oil to $6 Billion now per month.  Hence, all of the above is why the Kurds are looking for their dues.. The “Golden Age is to be upon them.. imo. ~ MM”

Samson » May 11th, 2021

Al-Kazemi refers to an “unprecedented” security coordination between Baghdad and Erbil: it will curb terrorist attacks

9th May, 2021

On Sunday, Prime Minister Mustafa Al-Kazimi indicated that “unprecedented” security coordination occurred for the first time, between Baghdad and Erbil, that would end terrorist attacks in the disputed areas and the “security vacuum” areas.

Al-Kazemi said, during his meeting with the presenters of a number of Iraqi satellite programs, that “the relationship between Baghdad and Erbil is at its best, the level of trust between the federal government and the regional government.” He pointed out that he had “historical struggle relations with the Kurds from the days of the struggle against dictatorship, and with all Kurdish leaders, whether in Sulaymaniyah or Erbil, and that he tried to dismantle some of the elements of tension, and worked to dismantle a lot of misunderstanding, which contributed to approving the budget.”

On the 2021 budget, Al-Kazemi explained, “The budget contains a clear agreement between the federal government and the regional government, and it was approved in Parliament and covered with parliamentary support.” He noted that “Baghdad is now in the final stage of approving and distributing the budget sections, and Kurdistan’s share will soon reach Erbil.”

On the disputed areas, the Prime Minister stressed that it is “a long problem, and it is illogical to solve it in two days, and there is a need to establish trust between Arabs and Kurds, which are areas not only with Erbil but throughout Iraq.” He continued, “We have disputed areas. We need a stable political situation more than the current situation in order to build all the elements of confidence,” noting that “a delegation to the region went earlier, and another delegation will go to find solutions regarding security coordination, which, unfortunately, are exploited by ISIS gangs and terrorist groups.” 

Al-Kazemi expressed his confidence that “the regional government will cooperate with Baghdad’s proposals in this direction, because the security of the region is the security of Iraq and it is a collective responsibility.” He pointed out that “representatives of the region attended for the first time in a security meeting in Baghdad, they discussed the issue of the disputed areas, which are sensitive and dangerous areas exploited by the enemy, and the two parties will work to solve their problem with a proposal submitted by Baghdad.”  LINK

MilitiaMan » May 11th, 2021

There it is again. The kurdistan share is to reach Erbil.. There is enough support now that they should have smooth sailing.. They have plenty of resources to cover a very healthy and strong currency.. imo !~ MM

Samson » May 11th, 2021

Al-Rafidain announces that it will continue to grant advances to employees and security forces personnel

11th May, 2021

Al-Rafidain Bank announced, on Tuesday, that it will continuegrantingadvances to employees and security forces’ employees.

And the media office of the bank said in a brief statement, of which Mawazine News received a copy, that “advances are granted through the bank’s branches scattered in Baghdad and the provinces while taking preventive measures from Corona.”     LINK

MilitiaMan » May 11th, 2021

Paying advances is telling.. They must have change coming to cover the salaries. I’ll bet because they will be retro activated to the 01/01/2021.. imo ~ MM

Samson » May 11th, 2021

Trade invites importers to check with the tax authority for tax stamps

11th May, 2021

The General Company for Exhibitions and Commercial Services of the Ministry of Commerce called, on Tuesday, for importers to review the General Tax Authority / Financial Section to obtain tax stamps.

The General Director of the General Company for Exhibitions and Commercial Services, Sarmad Taha Saeed, said, “This invitation came based on the book of the General Tax Authority and Paragraph III A of Article 18 of the Federal Budget Law.”

He added, “The aforementioned article stipulates the necessity to collect a tax stamp, and not to allow the passage of trucks carrying materials not stamped with a tax stamp.”   LINK

MilitiaMan » May 11th, 2021

Interesting timing or is it normal? The fact remains is they have stipulated that having a tax stamp or don’t pass go.. Change is in the wind. We have been told today they have had successes in the taxes, cutoms, fees, etc., at the borders.. A very big income stream no doubt. imo ~ MM

Source: Dinar Recaps


Samson » May 11th, 2021

A Kurdish delegation to visit Baghdad after the Eid .. This will be discussed?

11th May, 2021

The Parliamentary Finance Committee revealed, on Tuesday, a Kurdish delegation’s visit to Baghdad.

The deputy of the Patriotic Union of Kurdistan, Shirwan Mirza, said, according to Kurdish media, that “a technical delegation from the Kurdistan region will visit the federal capital, Baghdad, after Eid Al-Fitr, to discuss the mechanism for implementing Article (11) of the budget law for the current year.”

Mirza explained, “Article (11) does not stipulate the delivery of crude oil to the Kurdistan region, but rather the establishment of the specified quantity,” indicating that we want to know the mechanism for implementing this paragraph. Will it be calculated by clearing and deducting the oil from the region’s share of the budget and spending the remainder, or depositing in the region, oil sold in a bank account for the benefit of the federal government.  He stressed, “The mission of the delegation that will visit Baghdad is to agree on the mechanism for implementing Article 11 of the Federal Budget Law.”

The deputy added, “According to the statements of the Federal Prime Minister Mustafa Al-Kazemi, the federal government is about to end the distribution of the sections of exchange included in the budget, including the Kurdistan region, and therefore he announced that the region’s dues will soon be sent,” explaining that “the region is waiting to send its share of the budget for this month.”     LINK

MilitiaMan » May 11th, 2021

I imagine they will have a mechanism front and center right after Eid A – Fitr. That is the whole skinny of it.  The mechanism, i.e., an exchange rate is or may be calculated based over time and averaging, in some cases, imo.. Regardless the topic is the mechanism and that my friends is a big deal! They want to know what rate at which to calculate now.. imo  ~ MM

“An exchange rate mechanism is not a new concept. Historically, most new currencies started as a fixed exchange mechanism that tracked gold or a widely traded commodity. It is loosely based on fixed exchange rate margins, whereby exchange rates fluctuate within certain margins.”

“An upper and lower bound interval allows a currency to experience some variability without sacrificing liquidity or drawing additional economic risks. The concept of currency exchange rate mechanisms is also referred to as a semi-pegged currency system.”

How long is Eid Al-Fitr?   one to three days 

Eid al-Fitr is celebrated for one to three days, depending on the country. It is forbidden to fast on the Day of Eid, and a specific prayer is nominated for this day.

https://www.investopedia.com/terms/e/exchange-rate-mechanism.asp#:~:text=An%20exchange%20rate%20mechanism%20is,rates%20fluctuate%20within%20certain%20margins.

Samson » May 11th, 2021

Source: The ban will be lifted immediately after Eid Al Fitr

13:43 – 11/05/2021

A health source close to the National Health and Safety Committee revealed, on Tuesday, that the committee is discussing lifting the total ban immediately after the end of the Eid Al-Fitr holiday in the event that the number of injuries continues to decrease.

The source said in a statement to “the information”, that “the pressures facing the National Health and Safety Committee from citizens and some official bodies regarding the reduction of the ten days announced by the committee for a total ban, as the committee held a meeting yesterday to study these requests.”

The source added, “The committee discussed the issue of lifting the total ban and reached a near-final agreement to lift the total ban immediately after the end of the Eid Al-Fitr holiday,” indicating that “the committee stipulated that the number of injuries decrease to lift the ban completely.”

It was more than an Iraqi governorate yesterday, Monday, requests were submitted to the Health and Safety Committee, demanding that it be excluded from the comprehensive curfew approved by the committee for a period of 10 days.    LINK

MilitiaMan » May 11th, 2021

I’ll bet once they see the mechanism they’ll be dancing in the streets… lol imo ~ MM… me too.. ha!

Samson » May 11th, 2021

Kurdistan issues a budget law without mentioning its total

11th May, 2021

The Ministry of Finance in the Kurdistan Regional Government announced the approval of the region’s budget bill.

A brief statement of the ministry stated that after eight years 2013-2021, the Minister of Finance and Economy signed the budget of the Kurdistan region and sent to the Council of Ministers of the regional government, without reference to the value of the budget, as its provisions are to be discussed by the Council of Ministers of the region, provided that it is transferred to the Kurdistan Parliament from Order to vote it.  LINK

MilitiaMan » May 11th, 2021

Well looky here. Without reference to the value.. MECHANISM, is missing.. lol Well we read that is on the table after Eid Al-Fitr.. They need the mechanism’s value!! I like it. Let the feast begin.. imo ~ MM

Samson » May 11th, 2021

Saleh assures the Saudi delegation the importance of strengthening bilateral relations and the role of Iraq in consolidating the security of the region

05/11/2021 18:45:47

The President of the Republic, Barham Salih, today, Tuesday, May 11, 2021, received the Saudi Deputy Defense Minister, His Highness Prince Khalid bin Salman bin Abdulaziz.

According to a statement by the Presidency of the Republic, the Euphrates News Agency received a copy of it today, at the start of the meeting, Prince Khaled conveyed the greetings of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Muhammad bin Salman to the President of the Republic, while Prince Khaled carried his greetings and appreciation to the King and the Crown Prince During the meeting, they reviewed the close fraternal relations between the two brotherly countries and ways to strengthen them.

President Barham Salih stressed the importance of developing relations between the two sides and consolidating cooperation horizons in various fields, working with the agreements and memoranda of understanding signed between the two countries in the fields of security, economy and investment, and strengthening them towards more cooperation and joint coordination in a manner that achieves the interests of the two countries and the two brotherly peoples.

During the meeting, the depth and development of Iraqi-Saudi brotherly relations were praised, and the two countries’ keenness to develop close bilateral cooperation and coordination, pointing to the pivotal role of the Kingdom of Saudi Arabia in the Arab and regional regions, and affirming that a secure, stable and sovereign Iraq and close relations with its Arab depth and its Islamic neighborhood is the basis of to consolidate security, stability and development in the region.

For his part, Prince Khaled extended his thanks and appreciation to the President of the Republic, stressing the Kingdom’s commitment to supporting the security and stability of Iraq and strengthening the bonds of cooperation between the two countries in the fields of security, economy and investmentin the interest of the two brotherly peoples.   LINK

MilitiaMan » May 11th, 2021

This is a big deal and it looks like they have agreed on many things. Security and Stability are a couple items, as are the economy and investments.. Oh, I like this.. Bring on the MECHANISM!!! ~ imo ~ MM

Source: Dinar Recaps

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