KTFA
Samson » April 19th, 2022
Russia plans to sue over frozen reserves
19th April, 2022
The head of the Russian Central Bank, Elvira Nabiullina, said that the financial regulator (the Russian Central Bank) is preparing to file a lawsuit to overturn the West’s decision to freeze part of the reserves of the International Bank
The head of the Russian Central Bank said, “This is an unprecedented freezing of gold and foreign exchange reserves, we will prepare legal cases, and we are preparing to file them (a lawsuit) because the move is unprecedented on a global scale
The official indicated that “due to the freezing of part of Russia’s international reserves, the Russian Central was forced to apply additional criteria to control the (exchange rate) of the Russian currency LINK
Russia Refuses To Disclose Which Countries Have Agreed To Deal With It In Rubles
18th April, 2022
Dmitry Peskov, press secretary of the Russian President, commented on the issue of the transition to the Russian currency in gas payments with unfriendly countries, on the instructions of Russian President Vladimir Putin.
In response to a question about the progress made on the issue of the transition to the Russian ruble in payments for natural gas exports from Russia, Peskov indicated that information should not be published about the number of countries that agreed to the move.
“It is unlikely that such information will be released (the countries that have moved to ruble payments),” the official told reporters on Monday. He indicated that Russian Deputy Prime Minister Alexander Novak is following up on the matter, and that the gas company “Gazprom” is in direct contact with customers, including buyers in the European Union.
The press secretary of the Russian President added that the export payments that took place in the month of April, after the entry into force of the President’s decree on the payment mechanism, will be in next May, meaning there is some time.
Last week, Russian Deputy Prime Minister Alexander Novak said that several buyers of Russian gas had already agreed to convert payments into Russian currency. He noted that the conversion of Russian gas payments to the ruble stems from Russia’s desire to ensure that it receives payments for gas supplies.
After Western countries imposed sanctions on Russia, which affected part of its international reserves, Moscow announced the transfer of gas payments for unfriendly countries to the ruble, in order to ensure receipt of the price of the supplied gas.
On March 31, Russian President Vladimir Putin signed an order setting out a new system for paying for Russian gas supplies by buyers from unfriendly countries.
Based on the decree, customers in unfriendly countries are required to open accounts in the Russian currency in Russian banks, and the decree will enter into force as of April 1, 2022. LINK
Iobey777 » April 19th, 2022
TUESDAY BLESSINGS APRIL 19
QUOTE FROM FRANK LAST NIGHT, “IN MY STRONG OPINION, INSIDE OF THIS MONTH OF APRIL; SOMETHING MAJOR WILL OCCUR INSIDE OF IRAQ. IN MY VERY STRONG OPINION, SOMETHING MAJOR WILL OCCUR INSIDE OF IRAQ… BUT … WHAT WE KNOW, WE CAN’T SAY SPECIFICALLY… WE JUST KNOW THAT SOMETHING MAJOR IS GOING TO OCCUR INSIDE IRAQ….FRANK26”
INSIDE THIS MONTH OF APRIL AMEN
Samson » April 19th, 2022
Kurdistan Region suspends work tomorrow
04/19/2022 16:20:25
The Kurdistan Regional Government decided to suspend the official working hours tomorrow, Wednesday.
The holiday comes on the occasion of the Yazidi New Year. LINK
The government calls on the House of Representatives to vote on the Food Security Support Law: It provides basic services
19th April, 2022
Cabinet spokesman Hassan Nazim confirmed, on Tuesday, that the Food Security Law provides basic services to the people and is of great importance.
“The Food Security Law provides basic services to the people and is of great importance,” Nazim said in a press conference attended by Mawazine News.
He added, “We hope to vote quickly on the food security law in Parliament without making changes to it.” LINK
Is It Possible To Pass The Budget Of The Caretaker Government Without Final Accounts?
19th April, 2022
The legal expert, Ali Al-Tamimi, explained the possibility of passing the 2022 budget without final accounts for what preceded it, as well as clarifying the constitutionality of passing the budget by Parliament despite the fact that the government is a daily business.
Al-Tamimi told Al-Maalouma, “The House of Representatives has the possibility to ask the caretaker government to send the budget law to Parliament, because this is related to food security, which is one of the government’s first priorities. managing everyday affairs.”
He added that “authorizing the government to send the budget requires a vote of the absolute majority of the number of parliament members, that is, the total number plus one, and that this right is limited only to the budget law only.”
Al-Tamimi explained, “Sending the budget after authorizing the government to do so must be preceded by the approval of the final accounts of the previous year’s budget in accordance with the Financial Management and Public Debt Law No. 6 of 2019, as this is implemented in accordance with Articles 62, 5 and 61 of the constitution and 12 and 13 of the Financial Management and Public Debt Law. No. 6 of 2019 and Articles 128 to 138 of Parliament’s bylaws. LINK
Parliamentary Finance: Big gains for farmers in the Food Security Law
18th April, 2022
The Parliamentary Finance Committee identified Monday, the most important gains for farmers after the legislation of the Food Security and Development Law, and while it confirmed that it would rewrite it through tables specifying the exchange sections, it stressed that it would not make any judgments and additions that affect its application.
Member of the Parliamentary Finance Committee, Nazim Al-Shibli, said, “The committee continues to hold its meetings to complete the draft law on food security and development, as it is related to the life and needs of the citizen, and the law will concern two sectors: trade and agriculture, and the need to support them because they affect food security.”
He added, “The Finance Committee met with the relevant ministers and officials in order to identify the most important paragraphs related to the supply of food supplies, the payment of farmers’ dues, and the purchase of the wheat crop.”
Speaking about the most important gains achieved for farmers, he stressed that “the law stresses the payment of farmers’ dues within a day or two after the delivery of the crop and there will be no delay, and the law will pay all previous dues and also for the current season.”
He pointed out that “the current financial abundance achieved from the increase in oil prices needs a legal cover for the disbursement of funds under the Food Security Law, while there will be an entitlement to the oil-producing governorates under the petrodollar item.”
He stressed that “the Finance Committee will not add jurisprudence and paragraphs that deprive the law of its content and affect its application, and it will be applied until the end of this year and will rewrite the law through tables specifying the exchange sections and what each section needs.” LINK
BearCinnabar » April 19th, 2022
The Food Security Law seems to be one of the governments’ first priorities and good to know it will need the budget. Iraq is good in always planning ahead and it may seem like many layers, but actually it’s amazing. IMO.
The article has some interesting parts and meaning: See: “the most important gains for farmers after the legislation of the Food Security and Development Law, and while it confirmed that it would rewrite it through tables specifying the exchange sections, it stressed that it would not make any judgments and additions that affect its application.”
and
“He stressed that “the Finance Committee will not add jurisprudence and paragraphs that deprive the law of its content and affect its application, and it will be applied until the end of this year and will rewrite the law through tables specifying the exchange sections and what each section needs.”
Know this: “There will be the formation of joint committees from different ministries to monitor the market, control prices and prevent monopoly. The Minister of Agriculture said the government is considering a strategy for supporting the agricultural sector in accordance with the food security bill.” IMO.
More insight from the web:
The World Bank: Food and Agriculture Organization of the United Nations:
https://reliefweb.int/sites/reliefweb.int/files/resources/Food%20Security%20English%20-%20Issue%204%20.pdf
The Borgen Project:
https://borgenproject.org/food-insecurity-in-iraq/
Source: Dinar Recaps
MilitiaMan » April 19th, 2022
U.S. Department of the Treasury
Office of Public Affairs
Press Release: FOR IMMEDIATE RELEASE
April 19, 2022
Contact: Treasury Public Affairs; Press@Treasury.gov
READOUT: Under Secretary Brian Nelson’s Meeting with Iraqi Deputy Prime Minister and Minister of Finance, Ali Allawi
WASHINGTON – Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson met with Iraqi Deputy Prime Minister and Minister of Finance Ali Allawi on the margins of the IMF-World Bank spring meetings.
They discussed challenges facing Iraq, including inflation and pressure on supplies of food and other commodities as spillovers from Russia’s invasion of Ukraine – food prices in Iraq have increased by double digits since the start of the war. Under Secretary Nelson and Minister Allawi also discussed economic reform efforts and fighting corruption.
I’ll bet there are many others that were privy to the meetings.. The food law, as they are calling it is a necessity of the citizens. They have been talking about the GOI and the 2022 Budget, i.e., a new exchange rate too.. imo..
A new exchange rate is imo all that is needed to curb inflation and bring purchase power. We know they talked about the present government can and will address the budget. Thus, the meeting with the IMF-World bank and others imo..
Lets see what the day(s) bring. I suspect they’ll re affirm the government’s position with respect to the presidencies.
Then, i’ll look for the Finance Minister / CBI to have a chat.. jmtc..
I like this a lot. It is a very timely piece from the UST, get my point? lol.. The “” many others that imo involved, were very high up in the food chain.. Very!!! lol… ~ MM
Samson » April 19th, 2022
The delay in approving the budget stops projects and confuses economic activity
Specialists in economic affairs renewed their warning of the negative consequences resulting from the delay in approving the general budget law, especially on the investment aspects, stressing the need to reach “political” agreements that would pass the budget, and work to double the items that could contribute to the eradication of poverty and unemployment. Increasing rates of development and urban projects.
The economic warnings were met with a parliamentary proposal that called for transferring the funds allocated to the Food Security Law to the Budget Law, and working to pass it as quickly as possible because its provisions are linked to the needs of the people.
Member of the Iraqi Economists Association, researcher Miqdam Al-Shaibani, sees the possibility of a delay in economic activity in Iraq due to the lack of approval of the budget law, as well as a state of stagnation in the national economy, especially since the budget is the government’s annual plan to implement its service and investment programs, and its delay means that projects have stopped Service and investment projects, especially infrastructure projects for electricity, water, roads, bridges, health and education.
Al-Shaibani pointed out that the negatives resulting from not approving the budget law do not stop at the limits of delaying projects only, but also cross them to reach dangerous economic levels because spending is determined at a ratio of 1/12 according to the state’s financial management law until the budget is approved, meaning that spending will be determined according to the conditions of the year. The previous financial, and this means the absence of new projects
In addition to the disruption of old projects that need financing, which will lead to high rates of unemployment and poverty and send unreassuring messages to the private sector and investors, and thus the delay in approving the budget may lead to stagnation economic.
Food Security Law
The economic researcher believes that sending “the law of emergency support for food security and development to the House of Representatives does not come within the powers of the caretaker government, and if the current government has the power to send laws, then sending the federal general budget for the year 2022 is more important than sending the law of emergency support for food security.”
Al-Shaibani pointed out that “the Food Security Law, with its paragraphs, is another operational budget that is added to the consumption expenditures spent by successive federal governments,” noting by saying, “I think that the adoption of the emergency support law for food security and development is an elimination of investment and development in Iraq, as Most of the exchange doors in this law are consumer goods, and at the current stage we need to support production and investment, and in the Federal General Budget Law, this matter can be achieved through the investment budget.”
clear financial aspect
The economic warnings were met with parliamentary support expressed by Representative Laila Mahdi al-Tamimi, who confirmed to “Al-Sabah” that “the food security law, which the government sent to the House of Representatives, contains a financial aspect, and according to the system, laws that contain a financial aspect cannot be implemented.” Send from the caretaker government to the Council Representatives.”
The representative indicated, “The Food Security Law is a clear violation, and it would have been more appropriate to send the General Budget Law, the paragraphs of which affect the life of the citizen directly and significantly, as many segments are waiting for the legislation of a law.” budget.”
The MP pointed out that despite the need for the government to send a draft budget for 2022, however, “the Food Security Law is important for a certain stage, during which the needs of a large social segment are addressed, especially the poor, who are in dire need of the Social Protection Law, and therefore focus must be placed on On this slide to achieve food security to her”.
Al-Tamimi suggested transferring the funds allocated to the Food Security Law to the 2022 budget to address lagging projects, as well as address other problems, such as free lecturers and other problems. Economic.
The financial advisor in the Prime Ministry, Dr. Mazhar Muhammad Salih, pointed out during a previous interview with “Al-Sabah” that “one of the alternatives that the government has resorted to, is its submission of the emergency food aid bill with a spending ceiling of 35 trillion dinars, which includes subsidizing the ration card. Social welfare programs, subsidizing the prices of crops such as wheat, rice and rye, and a grant of 100,000 dinars, as well as covering the activities of investment projects link
Source: Dinar Recaps
MilitiaMan » April 19th, 2022
My view is that it is possible that the Care Taker governments can and may have this is sorted already and we will find out in short order to support that fact again, imo.
The UST, IMF-WB meetings today and over the last week imo will bear fruit and likely large fruit. So plentiful that the citizens will be fed for generations to come.. Imo I.E.. 2022 Budget with next exchange rate to be exposed back to a previous era.
Thank you Samson, Frank26, Walkingstick, Clare, Petra, Admins and all who share. ~ MM
Samson » April 19th, 2022
Is It Possible To Pass The Budget Of The Caretaker Government Without Final Accounts?
19th April, 2022
The legal expert, Ali Al-Tamimi, explained the possibility of passing the 2022 budget without final accounts for what preceded it, as well as clarifying the constitutionality of passing the budget by Parliament despite the fact that the government is a daily business.
Al-Tamimi told Al-Maalouma, “The House of Representatives has the possibility to ask the caretaker government to send the budget law to Parliament, because this is related to food security, which is one of the government’s first priorities. managing everyday affairs.”
He added that “authorizing the government to send the budget requires a vote of the absolute majority of the number of parliament members, that is, the total number plus one, and that this right is limited only to the budget law only.”
Al-Tamimi explained, “Sending the budget after authorizing the government to do so must be preceded by the approval of the final accounts of the previous year’s budget in accordance with the Financial Management and Public Debt Law No. 6 of 2019, as this is implemented in accordance with Articles 62, 5 and 61 of the constitution and 12 and 13 of the Financial Management and Public Debt Law. No. 6 of 2019 and Articles 128 to 138 of Parliament’s bylaws. LINK
Source: Dinar Recaps
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