“Smoke and Mirrors” – Wed. PM KTFA Thoughts/News 5-18-22

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KTFA

Clare » May 18th, 2022

Parliamentary Finance proposes the “Emergency Support for Food Security and Development” law as an alternative to the government project

2022-05-18 

The Finance Committee of the Iraqi Parliament announced, on Wednesday, the submission of the “Emergency Support for Food Security and Development” law proposal as an alternative to the project submitted by the current caretaker government headed by Mustafa Al-Kazemi.

The committee said in a statement today, that it submitted this proposal based on the provisions of Article (112) of the internal system of the Iraqi Council of Representatives.

The statement explained that the aim of presenting this proposal is to “remove the specter of hunger, deterioration and power outages in the scorching summer of Iraq.”

The proposal bore the signatures of 25 members of the Iraqi parliament.

On Sunday, May 15, 2022, the Federal Supreme Court (the highest judicial authority in Iraq) decided to cancel the draft law on emergency support for food security and development based on a lawsuit filed by Representative Basem Khashan, while it indicated that the Al-Kazemi government is a conduct of business and is not entitled to send bills and hold contracts. Loans, appointment to senior state positions, exemption from them, or restructuring of ministries and departments.   LINK

Source: Dinar Recaps


Scarter13 » May 18th, 2022

My opinion would like to present an alternative theory. In my opinion, we’ve been looking at this at the micro level and not the macro.

When my opinion zooms out and looks at the current global events (FED raising rates, FED taking green backs off the street to prop up the dollar, markets crashing, war in Ukraine, China’s economy imploding, our economy another rate hike away from a recession if not a depression), my opinion has the theory that Iraq is just one domino in a long line of dominoes (a pretty pretty big one) and it won’t be their turn to fall over until the global economy implodes.

In my opinion, all the middle eastern politics that are happening are just smoke and mirrors and they are actually waiting for something much bigger to happen.

In my opinion, my opinion thinks that the Iraq constitution was written by a US ambassador (My opinion is pretty sure this is what happened but it may be wrong) and it just so happens that it requires a bloc to have a certain number of seats to sit the government and of course no side has enough to make it happen after 7 months.

In my opinion, that’s no coincidence and is scripted along with this food security law and budget being passed and Maliki causing all the problems he is. 

And in my opinion, getting back to the macro, we are expecting other currencies to change their value when Iraq does, so this isn’t just about Iraq.

So my opinion’s theory is it plays out like this, the fed continues to raise rates and crash the world economy, we finally hit a bottom point and inflation falls, the puppet masters of all this are satisfied, the currencies revalue and there is fresh liquidity in the markets, and the world starts to recover.

Drastic over simplification of that but overall that makes sense to my opinion and all of this infighting will continue until who knows when.

My opinion hopes it doesn’t play out like this and hopes the RI happens a yr ago but this is the most sense my opinion can make of all this craziness.

And again, this is just my opinion. Thank you to KTFA

Clare » May 18th, 2022

Nazim: There is a surplus of money from the rise in oil prices, but it cannot be used due to the lack of a budget law

18/05/2022

Hassan Nazim: The government confirms its respect for the decision of the Federal Court on the Food Security Law

Nazim: 10 members of Parliament can submit bills, including the Food Security Law

Nazim: Iraq’s position is supportive of the rights of the Palestinian people, and the tendency to normalization is governmental and popular

Nazim: The Ministry of Electricity needs funds to maintain production, including paying gas costs

Nazim: We introduced the emergency support law to prevent the government from reaching the point of inability to provide services

Nazim: The Ministry of Electricity needs two billion dollars to meet its obligations, including Iranian gas debts

Nazim: Part of the Iranian gas debt must be paid before May 31, otherwise there will be consequences

Nazim: There is a surplus of money from the rise in oil prices, but it cannot be used due to the lack of a budget law  LINK

DeepWoodz » May 18th, 2022

Imo

Reminds me of a subject that hasn’t been discussed lately, at least on the poor boy side of the premium wall.

That would be the second set of books.

As well as all the MOU’s with all these other countries mentioned in the past. Then I think about the CBI auctions and the remittances abroad to the tune of around 175 million each time.

What exactly does that mean? Are these agreements allowing them to do trade at a special rate? One that builds the value of the dinar while all the rest of us wait for the revelation of the new rate?

BearCinnebar » May 18th, 2022

IMO.  Okay, it is a good idea to check the online news sources for the continuation of a subject:  Middle East/Iraq:   

We read in our own words: The Food Security Law was presented by the Council of Ministers, but the new law will be presented by the House of Representatives.

The Federal Supreme Court did not rule out the draft law on emergency support for food security and development, but instead ruled out the referral mechanism.

Clare » May 18th, 2022

Al-Kazemi’s advisor: Repealing the Food Security Law impedes the implementation of the white paper

5/18/2022 

Baghdad / Obelisk: Adviser to the Prime Minister, Mazhar Muhammad Salih, said, on Wednesday, May 18, 2022, that the Federal Court’s decision regarding the Emergency Food Security Support Law on the white paper will be negative.

Saleh told Al-Masala that the reform white paper is closely related to the issue of financial and economic sustainability in an interactive and coherent manner, indicating that the indicators of financial reform that flow into the mentioned sustainability mechanisms require the availability of a regular annual financial plan supported by the indicators included in the legislated general budget law within its timing established by law Financial Administration No. 6 of 2019 amended through financial policy tools in implementing financial and economic reforms.

He added that the indicators of the white paper and its approved timings will face a clear slowdown and imbalance in timing and implementation because the fiscal policy has started working with partial reform constants, which requires reconsidering the timings of implementing the white paper again in order to suit the conditions of the country’s financial policy in general and the economic policy in a more stable and continuous manner.

Last Sunday, the Federal Supreme Court decided to cancel the draft law on emergency support for food security and development, based on a lawsuit filed by Representative Basem Khashan.   LINK

Al-Kazemi’s advisor: The white paper will face a slowdown in timing and implementation

05/18/2022

Adviser to the Prime Minister, Mazhar Muhammad Salih, determined, on Wednesday, the impact of the Federal Court’s decision regarding the Emergency Food Security Support Law on the white paper.

Saleh said, “The reform white paper is closely related to the issue of financial and economic sustainability in an interactive and coherent manner.”

And he indicated, “The indicators of financial reform that flow into the mentioned sustainability mechanisms require the availability of a regular annual financial plan supported by the indicators included in the legislated general budget law within its timing established by the Financial Management Law No. 6 of 2019 amended through financial policy tools in the implementation of financial and economic reforms.” .

And he continued, “The indicators and timing of the approved white paper will face a clear slowdown and imbalance in timing and implementation because the fiscal policy has started working with partial reform constants, which requires reconsidering the timing of implementing the white paper again to suit the conditions of the country’s fiscal policy in general and economic policy in a more stable and continuous manner.” .  LINK

Source: Dinar Recaps

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