“It’s Game on” – Sat. AM/PM TNT Thoughts/News 1-8-22

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TNT

Shybaby:
Restoring the exchange rate of the dollar to its former state would be a priority for the next government.

information / baghdad.

Hussein Hashim Al-aAmeri, a winning mp for the rights movement, said Tuesday that the movement was keen to legislate all laws that respect the rights of the poor, noting that restoring the exchange rate of the dollar to its former state would be a priority for the next government.

“The rights movement will pay great attention to the segment of the poor who have been affected by the appreciation of the dollar,” Al-Ameri said in a statement.

“Restoring the exchange rate to its former state and working to reduce poverty in the country is a priority for the work of the next government,” he said, adding that “the movement will pay great attention by enacting a number of laws related to improving economic and social realities and caring for the poor.”

Independent mp Ali Turki Al-Jamali blamed the outgoing Kadhimi government for the 30 percent rise in poverty in Iraq. finished / 25 h

rights: keen to legislate laws supporting the segment of the poor – information agency (almaalomah.me)

Tishwash:
Parliament’s Agenda For Next Sunday’s Session

Today, Friday, the House of Representatives announced its agenda for next Sunday’s session.

According to a document issued by the Council, obtained by Earth News Agency, “The new parliament’s agenda in the fifth electoral cycle for the first legislative year will include: 

First: the Republican peace,

Second: recitation of any verse from the Holy Qur’an and the reading of Surat Al-Fatihah on the souls of the martyrs of Iraq, 

Third: the speech of Mr. The Secretary-General of the House of Representatives, welcoming the ladies and gentlemen members of the House of Representatives, and reading the names of the attendees,

Fourth: The President of the Age takes over the administration of the session,

Fifth: The recitation of a verse from the Holy Qur’an,

Sixth: The President of the Age invites the ladies and gentlemen of Parliament to take the constitutional oath,

Seventh: The President of the Age delivers a speech On the occasion of the beginning of the fifth electoral cycle

Eighth: The president of the age announces the opening of the nomination for the position of the Speaker and his two deputies, and the session begins at: eleven in the morning.   link

An economist evaluates the decision of the Ministry of Oil to acquire Exxon Mobil’s stake in West Qurna/1

An economic expert evaluated the recent cabinet decision by the National Oil Company to acquire the share of Exxon Mobil Corporation in the West Qurna/1 field, which is one of the giant fields in Basra Governorate.

Hamza Al-Jawahiri told {Euphrates News}, “The step of the Ministry of Oil’s acquisition of the field is positive, and Iraq was already demanding it.”

He added, “The Ministry of Oil has received this field because no American company has received an alternative to ExxonMobil in the field, and the file has been on the table for more than 6 months, but no American company has come.”

Al-Jawahiri stressed that “this step is excellent,” adding that “the largest partner in the development and production of the field will be the Ministry of Oil.”

He continued, “There will be direct national development, knowing that there is a Chinese company working in the field now,” noting that “this context is global in the work of different companies in the oil fields, but the largest share in development and production is the Basra Oil Company, we think.” link

Source: Dinar Recaps


Tishwash:
The death of the former governor of the Central Bank, Sinan Al-Shabibi

Today, Saturday, a medical source announced the death of the former Governor of the Central Bank of Iraq, Sinan Al-Shabibi.

In an interview with Alsumaria News, the source said, “Al-Shabibi passed away today in Geneva, Switzerland.”  link

The former Central Bank Governor, Sinan Al-Shabibi, died today, Saturday, in Geneva, Switzerland.   

Al-Shabibi’s family announced the news of his death through a statement published by (Nawar Al-Shabibi), the daughter of Sinan’s brother, the former governor of the Central Bank of Iraq. 

Sinan Muhammad Reda al-Shabibi, born on July 1, 1941, in the capital, Baghdad, is an economist and served as the governor of the Central Bank of Iraq, from September 2003 to October 2012.  link

Source: Dinar Recaps


RVAlready:
Wow. Dr Shabibi died just before the RV. Very strange indeed.

Annie68:
Dr. ShIbibi helped write this reset!

AL:
Thank you Dr Shabibi for all you did… This investment is certainly showing it’s age. For Dr Shabibi at this point in time, when we are so close to this coming to fruition I believe that is more than noteworthy. From what I could see he was a significant player and architect in the restoration of Iraq.

REI:
If I remember right, the Kuwait President died the day before they RV’d and then rose again to life after their RV…..just saying.

NetGlobal:
Walkingstick and Frank are saying that pictures of the new lower denominations will be posted on electronic billboards all over Iraq very soon. If they are it’s Game On.

Tishwash:
Exchange rate first

It is time to adjust the exchange rate to enhance the value of the national currency (the Iraqi dinar) against the dollar.

And now that the reasons that prompted the decrease in the exchange rate of the dinar against the dollar as a monetary treatment to overcome the obstacle of the country being forced to borrow externally and internally have disappeared, there is no justification for sticking to this painful measure that touched the lives of all segments of society.

The direct reason for this tight monetary policy was the drop in global oil prices with the effects of the Corona pandemic, and the world has largely overcome this difficult ordeal.

With the return of oil prices to the rise, a cash surplus was achieved that contributed to supporting and strengthening the Iraqi cash reserve, the safety valve for periodic financial crises and natural disasters.

In addition to the above, Iraq was able to close the curtain on the debts imposed on Iraq forcibly to Kuwait. These factors and indicators are encouraging to readjust the exchange rate to what it was before the revaluation of the dollar against the dinar Iraqi.

Perhaps one of the most important reasons and justifications for the demand to return the exchange rate to its normal state is the situation and the painful effects that the citizen has endured, forcing him to give the government the opportunity to address the already dire financial situation.

The measure to reduce the exchange rates of the Iraqi dinar against the dollar has caused chaos in the market and broke down the stability that the market enjoyed at the previous rate.

The prices of materials and goods have been inflamed, which has affected the purchasing power of the citizen. You can imagine the extent of the suffering caused by the prices of medicines and basic materials for all segments of society, especially the poor, the retired and the employees.

The measures taken by the government to treat the poor segments were not equivalent to the effects of the exchange rate difference.

Accordingly, one of the tasks of the new government is to take decisions to restore the price and take strict measures against price manipulators, especially medicines and important commodities that touch the citizen’s livelihood by activating the role of careful monitoring of the market. 

In mentioning the prices of medicines, the Pharmacists and Physicians Syndicates must activate their role in monitoring and accountability.

For this reason, let us make readjusting the exchange rate the first task of the next government and parliament to relieve the burden of the citizen.

And a question that comes to mind, can the concerned authorities begin to gradually reduce the exchange rate until the formation of the government to mitigate the double effects on both sides of the equation?  link

Source: Dinar Recaps

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