TNT
CandyKisses:
How much gold reserves in Iraq’s treasuries?
Follow-up – Mawazine News
The World Gold Council announced, on Sunday, that Iraq’s reserves of the yellow metal remained stable during the month of May, indicating that Iraq maintained its position 40 globally out of the 100 countries listed in the table with the largest reserves of gold.
In its latest schedule for the month of May 2022, the council said that “global central banks added 35 net tons to global gold reserves, which is the second consecutive month of net purchases,” noting that “the bulk of the rise is due to purchases from Turkey (13 ) tons, while Uzbekistan continued to buy (9) tons, Kazakhstan bought (6) tons, Qatar (5) tons, and India (4) tons.
He added, “Germany was the only seller this month, as it sold two tons of gold.”
He pointed out that “this month, Iraq maintained its 40th global position out of the 100 countries listed in the table with the largest gold reserves, reaching 96.4 tons of gold, which represents 8.8% of the rest of its other reserves.”
The council stated that “the United States still sits on the throne of the world’s gold-possessing countries with 8,133 thousand tons, followed by Germany with 3,355 thousand tons, then Italy 2,451 thousand tons, while Mauritania ranked 100, with 1 tons, preceded by El Salvador with 1.4 tons.”
Tishwash:
World Council: Iraq’s gold reserves are stable and represent 8.8%
The World Gold Council announced, on Sunday, that Iraq’s reserves of the yellow metal remained stable during the month of May, indicating that its reserves of this precious metal amounted to 8.8% of the rest of its other reserves.
In its latest schedule for the month of May 2022, which was seen by Shafak News Agency, the council said that “the global central banks added 35 net tons to global gold reserves, which is the second consecutive month of net purchase,” noting that “the bulk of the rise is caused by purchases of gold. From Turkey (13) tons, while Uzbekistan continued to buy (9) tons, Kazakhstan bought (6) tons, Qatar (5) tons, and India (4) tons.
He added, “Germany was the only seller this month, as it sold two tons of gold.”
He pointed out that “this month, Iraq maintained its 40th global position out of the 100 countries listed in the table with the largest gold reserves, reaching 96.4 tons of gold, which represents 8.8% of the rest of its other reserves.”
The council stated that “the United States still sits on the throne of the world’s gold-possessing countries with 8,133 thousand tons, followed by Germany with 3,355 thousand tons, then Italy 2,451 thousand tons, while Mauritania ranked 100, with 1 tons, preceded by El Salvador with 1.4 tons.”
On June 27, Iraq announced the purchase of new quantities of gold, amounting to approximately (34) tons, an increase of 35% over what was in its possession.
It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world. link
CharlieOK:
Sri Lankan President President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe have both agreed to resign after thousands of demonstrators stormed the president’s residence to protest a crippling economic crisis in the South Asian nation.
Protesters in the city of Colombo barged through police barricades and stormed the president’s residence and office on Saturday, and targeted the prime minister’s private residence, setting it on fire, according to reports. Mahinda Yapa Abeywardena, the speaker of Sri Lanka’s Parliament, said Rajapaksa agreed to resign effective Wednesday.
AI:
It has been a bad week for prime ministers.
CandyKisses:
Khazali: There Is No Delay In Forming A Government, And There Will Be A Session After Eid
The Secretary-General of the Asa’ib Ahl al-Haq movement, Qais al-Khazali, confirmed, on Saturday, that there is no delay in forming the government, because Parliament is in a legislative recess, indicating that a session is supposed to take place after Eid to clarify positions.
Khazali said in the Eid prayer sermon, “Not long ago and nearly 9 months after the elections, the situation became halted, and developments took place, the most important of which was the withdrawal of the Sadrist bloc from the political process, which generated a new horizon to break the blockage and form the new government.” Khazali pointed out that “the situation requires not to cause chaos in Iraq in a country that produces 4 million barrels of oil, and the messages from the countries of the region and the major countries are clear to form a government of national unity.”
Regarding the challenges facing the formation of the government, Khazali said that “there is one challenge to the formation of the government, which is choosing the president of the republic,” noting that there is a Kurdish-Kurdish dispute, given that the political custom on the position of the President of the Republic is the entitlement of this component, and there is a dispute between the two Kurdish parties.
He continued, “The coordination framework is with the meeting of the Kurdish political forces and to agree on the issue of the presidency, and there are two solutions. The first is to agree on one person, whoever they will agree on. We do not have a problem, especially the two Kurdish parties. He wins the vote in Parliament and takes the presidency.”
Source: Dinar Recaps
RayRen:
Summary from the financial advisor to the Prime Minister
Positively towards achieving reform projects and economic progress in Iraq, the financial advisor to the Prime Minister, Mustafa Al-Kazemi, today, Saturday, outlined the stages of cooperation of the international community to help Iraq economically, while noting that the white paper is the product of this cooperation.
Saleh said, to the Iraqi News Agency (INA), that “international cooperation in helping Iraq economically extends to the Madrid Donors Conference, which was held in October 2003, in which the foreign ministers of 77 countries pledged to provide aid for the reconstruction of Iraq with an amount exceeding 33 billion dollars. To restore infrastructure destroyed by wars and the previous economic blockade.
He added that “many of these grants were verified, but their financial effects were limited due to the mismanagement of the reconstruction operations at the time. He pointed out that “the international community did not skimp on writing off more than $100 billion of debts owed by Iraq, which is Iraq’s pre-1990 debt, under the Paris Club Agreement of 2004.”
He continued, “The international community then continued to support Iraq, and this was embodied by the (Tokyo Declaration) by the Group of Seven major industrialized countries in their statement announced in May 2016, which supported Iraq financially and economically to confront its dual economic and security crisis at the time, and the Kuwait Conference for the Reconstruction of Iraq in the year 2018, which helped sustain UN aid to finance stabilization operations in the liberated areas after the victory over ISIS terrorism.
And he added: “During the double financial and health crisis that our country was subjected to in 2020, the international community felt Iraq’s need for international aid to reform and reorganize the economy in order to achieve sustainable development and combat decline and corruption, so it was formed in London in the middle of the year 2020, what was called the Iraq Economic Contact Group (IECG) (composed of the World Bank, the International Monetary Fund, the European Union, and the Group of Seven major industrial countries).
He continued, “The aforementioned contact group expressed its willingness to support financial and economic reform projects in our country and to reorganize the financing, production and governance sectors, and the white paper was the result of that cooperation.” He concluded by saying, “I see that Iraq has many serious and promising opportunities to benefit from the intentions of the international community.”
Rorah:
I read the article as more than intentions. It highlights real money invested into Iraq by the international community over the last two decades. At the end of the day those countries are looking to get their investments back. To do that Iraq need to have an internationally recognized currency. IMHO!
RVAlready:
Everyone pledging to help Iraq has been waiting for years for the RV. As soon as the RV happens, the floodgates will open.
Jambie67:
rvalready Floodgates, indeed, however, it seems they’re enjoying people freely throwing investment money at them at machine-gun speed and without having to release any floodgates in over 20 years. What return?
RVAlready:
I am speaking of the nations attending the Kuwait Conference for Iraq. The made pledges of funds to Iraq, contingent on the RV. Most are still waiting to deliver.
CharlieOK:
still suspect there is alot that has ALREADY happened behind the scenes. There would have to be. There is tooooooooooooooo much money being funneled into Iraq from oil production for Iraq to be the wild west, without a government. Who does that make sense to? On the surface, it appears that all the political powers in Iraq are at stalemate. Nobody can move forward. Hmmmm. Perfect scenario for hands in the cookie jar with the oil revenue? I suspect something has been agreed to behind the scenes. Iraq can riot at the drop of a hat, but they aren’t. Why?
Yada:
Agreed CharlieOK that much has happened behind the scenes. Consider this, all the rhetoric of the forming the governemnt by the Framework, specifically Maliki at PM is going to be for not. Once the recess ends, believe Kadzimi will dissolve parliament. They couldn’t come to any agreement before Sadr and they most definetly will not come to an agreement with Milikii at the helm
While the Framework was playing politics, “Kum Ba YaH”, Kadzimi had been traveling to the region countries giving them understandings of whats about to happen in Iraq.
The caretaker goverment has the EFSL passed and ratified, ,they dont need a sitting government to enact the things in the law. The 2021 budget had the rate and this Law represents all that was to have happen then. All this for meeting the needs of the people
CharlieOK:
Seems like a great scenario for an rv to me. Now, if someone can make sure the CBI has the “gift of hearing”, so there isn’t a “failure to communicate”.
Yada:
LOL CharlieOK. The dominos are set and protected to be released and it doesn’t include forming another government this late in the game. Once the money is out, the power of many will be lost because they will not have any leverage against the government or people.
The question many are asking, “What are we waiting for if the rate was in the FSL?” Fact is to initiate the law, parliament has to be in session, and then all we’ve waited for will be completed. Again, Parliament dissolved, the existing government will manage until, again, another election is completed
CharlieOK:
Or, the CBI revalues the currency because now, there is a secure CG administering the government. They don’t need to “see” the rate for this thing to rv.
SouthernGuy:
Yada is telling the truth. I been saying for months on here the caretaker government is you government.
Skinman:
Please correct me if I’m wrong but to dissolve the parliament doesn’t parliament need to vote them out? I thought they would need not only a quorum but didn’t I read something like 3/4 of them to vote to dissolve parliament?
RVAlready:
No, Kazemi and Salih can dissolve the parliament. No vote required… The RV will fix 99 percent of the problems.
Annie68:
If it’s that easy, why haven’t they done it!?
RVAlready:
It is sort of last resort. Everyone thought Sadr could get a new government. But he finally gave up. Parliament is pretty messed up, so It might be easiest for Kazemi and Salih to dissolve them.
Yada:
Agreed rvalready. And Annie,68, they will need to be in session and then it can be done. All this talk in the articles of the cooperation to form a government is misleading when they are out of session but once they are back, the opposition will voice their rejection of the Framework….. From the other sources I read in dinarland, it has to happen to successfully have Kadzimi and Silah to run the country for the rest of this year. Believe it also opens the doors on the corrupt files.
CandyKisses:
Iraqis hold their breath, waiting for Friday al-Sadr: a new government or a change in the rules of the game
The developments of the situation in Iraq indicate that the political process is heading towards early elections and the preservation of Mustafa Al-Kazemi’s government for another year, while the parties to the “coordinating framework” that intensifies its meetings despite the differences between its ranks confirmed that the formation of the government and the end of negotiations will be announced after the Eid holiday. Al-Adha.
The Iraqi political analyst, Muhammad Ali Al-Hakim, stressed that any government born without the “Sadr movement” will be “lame,” noting that “the withdrawal of the Sadrist movement from parliament put the coordination framework in a critical situation, so the Sadrist movement cannot exit without a pre-prepared scenario.”
In statements, Al-Hakim expected that the next few days would be full of surprises, and that the next Friday prayer would be a clear message and challenge to the “coordination framework.”
On the other hand, the “coordinating framework” is expected to announce after the Eid al-Adha holiday the end of political talks to form the new government.
Deputy Zainab al-Moussawi, a member of the Coordination Framework, said that after the Eid, the end of the talks to form the new government would be announced, stressing that the names proposed to take over the prime minister’s office are important.
She pointed out that “there is no scenario to go to new elections, as discussions are in full swing within the coordination framework and with some other blocs to come up with a new formula that crosses Iraq to safety.”
Source: Dinar Recaps
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