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KTFA
Samson » January 26th, 2022
The International Monetary Fund lowers its forecast for global growth in 2022
26th January, 2022
The International Monetary Fund has lowered its forecast for global economic growth as a result of the uncertainty surrounding the pandemic, inflation, supply chain disruptions and the tightening of US monetary policy, which pose additional risks.
The Fund said in its report on the developments in the prospects for the global economy, seen by Shafak News Agency, that “the global economy is expected to achieve a growth of 5.9 percent in 2021 and then decline to 4.4 percent in 2022, a decrease of half a percentage point,” adding that “global growth It is expected to slow to 3.8% in 2023, up 0.2% from its previous forecast in October.”
He added, “The basic expectations and the implications of movement restrictions, border closures and health effects resulting from the spread of Omicron, and the variation of these factors between countries depending on infection and the severity of movement restrictions, will be a burden on growth in the first quarter of 2022, provided that the negative impact fades in the second quarter of the year.” The pandemic is now expected to result in combined economic losses of $13.8 trillion through the end of 2024.”
The IMF lowered its forecast for US economic growth by 1.2%, given President Joe Biden’s failure to pass a spending package for social and environmental programs before tightening US monetary policy and the persistence of supply shortages. 2021, with growth expected to rise again to 5.2% in 2023. LINK
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Iraq Is Out Of The Top Ten Most Corrupt Countries In The World
26th January, 2022
A member of the United Nations Convention Against Corruption coalition, Muhammad Rahim Al-Rubaie, revealed, on Wednesday, that Iraq has left the ranking of the ten most corrupt countries in the world.
Al-Rubaie said, in a statement reported by the official “Al-Sabah” newspaper, that “Iraq has followed several policies, including the adoption of the national strategy to combat corruption, which will be launched during the next few months by the Integrity Commission, in partnership with civil society organizations and the private sector,” referring to the strategy “will diagnose the sources of corruption and divide them into political, social, administrative and financial.”
Al-Rubaie added, “The quota system in the distribution of positions has clearly affected the treatment of corruption, and we hope that the Federal Service Council will limit the influence of quotas in government institutions.”
The head of the Al-Nahrain Network for Integrity Support called for “the need to pay attention to freedom of expression and support the press, which are the two indicators that Transparency International greatly adopts, which will achieve additional points for Iraq and enhance its position on the Transparency International Index,” stressing the need “to legislate laws on the right to access information, and activate and the application of Financial Management Law No. 6 of 2019 and the application of the principle of transparency stipulated in the law in its tenth chapter, which raises Iraq to another level of this indicator. LINK
Source: Dinar Recaps
MilitiaMan » January 26th, 2022
Iraqi Prime Minister, Mustafa Al-Kadhimi (R) with the US Ambassador to Iraq, Matthew Tueller
(Source: Media Office of the PM)
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Baghdad (IraqiNews.com) – Iraqi Prime Minister, Mustafa Al-Kadhimi met with the United States Ambassador to Iraq, Matthew Tueller and his accompanying delegation in Baghdad.
During the meeting, the Prime Minister stressed Iraq’s keenness to enhance cooperation with the United States including diplomatic and economic areas, security cooperation, and intelligence support.
For his part, Ambassador Tueller affirmed the United States’ support for Iraq’s efforts to enhance security and stability locally and regionally, as well as its support for the Iraqi government’s pursuit of financial and economic reform.
https://www.iraqinews.com/iraq/al-kadhimi-meets-with-us-ambassador-to-iraq/
The meeting is looking to be an announcement to Iraq, in that we have your back for security, stability, economic and financial reforms.
This was yesterday and it is on the same day the court made judgement about elections and based off the results the government is/was to begin the process to constitutionally form the new government.
Keep in mind those that are in positions for implementation of the economic and financial reforms are in place now while they move forward with the process of seating the government.
There is nothing that says the place we are in now needs the process to be finished in seating them.
The process just needed to be started and it has been. If it takes more time to complete the process of seating the government, so be it.
The emphasis is that the process is constitutionally started and in motion, the main point.
So, then if by chance it will take more time the people that are in place have authority to do their jobs with respect to the reforms. That goes for the CBI and Finance Minister, etc.. imo
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All the components of what is needed for reforms are supported by the USA.
This appears to be an announcement that the USA made a decision and that is to support Iraq in her reforms.
We learned from teams that the paper work from Iraq has been signed and delivered to the powers that be.
Lets see if that paper work implemented was given to the UN last week.
If so there is a reporting time frame within days coming that could show a rate change, that data (if applicable) would need to in to the UN a couple days prior to them reporting and exchange rate change.
Having the support of Saudi Arabia, the UAE, Jordan, the AMF, GCC, WB, UN, IMF, BIS, etc, supports this can go at any time now, based off the USA have made the public decision to support iraq.
Lets see what happens.. I like where we are… imo ~ MM
Popeye7 » January 26th, 2022
Imo, very nice synopsis MM in your above post… I agree with the fact there cannot be too much more that needs to be done that is necessary to release the rate on an international level…
I believe it would definitely ensure that the next government will have the ability to focus on rebuilding Iraq’s infrastructure, and not go month to month without opening this year’s budget…
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This has proven to hurt their bottom-line utilizing the 1/12th plan, and now it seems with all of the agreements that have been made with Middle Eastern neighbors, they have started their engines…
Source: Dinar Recaps
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