“Curious to See How Things Unfold” – Thurs. PM TNT Thoughts/News 7-14-22



Al-Fateh Alliance: Dissolving Parliament is a Possible

A member of the Al-Fateh Alliance, Mahmoud Al-Hayani, confirmed today, Wednesday, that he does not rule out issuing a decision to dissolve parliament and go to early elections.

Al-Hayani said in an exclusive interview with “Mawazine News” that “it is possible to issue a decision to dissolve the parliament after it was difficult to secure 220 votes to elect the president of the republic, and it is impossible to maintain the caretaker government, especially after exceeding the constitutional and legal periods.”

He added that “the coordinating framework today is trying to restore the situation to its natural and legal course after exceeding the constitutional terms, which hit the wall in this parliament, as it proved its inability to assume responsibility.”   link

Al-Kazemi: Biden must realize the determination of the Iraqi people to solve their own problems

Today, Wednesday, Prime Minister Mustafa Al-Kazemi confirmed that Iraq is drawing its own path, locally, regionally and internationally, while noting that the American president must realize the determination of the Iraqi people to solve their problems through Iraqi solutions.

Al-Kazemi said in an article published in the Foreign Policy magazine: “When US President Joe Biden arrives in the Middle East this week, he will reach a region that faces many challenges, such as terrorism, food security, and climate change, but the Middle East today is a region facing those challenges in A group of leaders have been striving for positive change.”

He added, “I will represent a recovering Iraq that stands with greater confidence on the international stage and is stronger than it has been since President Biden’s last visit in 2016, or even than it was when we met in the Oval Office last year,” noting that “the United States had a role to play.” We have greatly supported Iraq over many years, and we are grateful for the help and sacrifices the Americans have made to support us.”

He continued, “Today, Iraq is drawing its own path, locally, regionally and internationally,” adding that “what I hope Biden will realize after our meeting in Saudi Arabia on Friday is my personal determination, and the determination of the Iraqi people to solve Iraq’s problems through Iraqi solutions.”

Al-Kadhimi continued, “Iraq is now a multi-party and multi-ethnic constitutional democracy. Yes, we are still in the protracted process of forming a new government after the elections last fall. The formation of the government took a long time, which has really raised the frustration of many inside and outside Iraq.”

“I share that sentiment, but I am also proud of the state’s ability to continue to serve Iraqi citizens, protect our natural resources, and play a leading role in regional initiatives that enhance prosperity and security,” he added.

He pointed out that “the political difficulties that result from the elections are an example of the confused conditions that democracy sometimes produces, and confirm the need to consolidate the principles of democracy in Iraqi public life, and to ensure its sustainability in a way that is not limited to the ballot boxes.” A successful democracy requires time, will and leadership, and as we stand on our two feet after the expulsion of ISIS from our land, we are able today to look towards better prospects, as our country is no longer a passive member of the international community; Parties that aim to enhance regional cooperation and stability.

He pointed out, “Last year, Iraq hosted the Baghdad Conference for Cooperation and Partnership with the leaders of Jordan, the United Arab Emirates, France, Qatar, Kuwait and Egypt, with the participation of ministers from Turkey, the Islamic Republic of Iran, and the Kingdom of Saudi Arabia.”

The Prime Minister added, “This is evidence of my government’s commitment to spare no effort to achieve stability in our country and the region. While we seek to calm tensions by bringing the various parties together, we also strongly support respect for the sovereignty of each country and the need for non-interference in the internal affairs of other countries.” “.

Al-Kazemi concluded, “Our relationship with the United States has witnessed a change for the better, and while our historical cooperation revolved around security and combating terrorism, the relationship is now expanding to include other no less important societal challenges, such as: economy, energy, climate change, environment, health, and education, and culture”   link

Bankers Respond to Bank Indonesia’s Digital Currency Plan

Bank Indonesia (BI) is currently formulating a white paper on the development of a central bank digital currency or CBDC. The central bank’s deputy governor Doni Primanto Joewono eyeing for the white paper to be issued by the end of this year, with the digital currency dubbed the digital rupiah. 

How does this affect the economy and how do bankers respond to this plan? In a discussion regarding digital currency in the Indonesian digital economy festival 2022 at Nusa Dua, Bali, Bank Jago chief executive officer Kharim Indra Gupta Siregar expressed his support for the issuance of a digital currency.

According to Kharim, the payment system in Indonesia has changed in the past couple of years after the introduction of various digital payments and e-money. “The use of physical money continues to dwindle as society is getting used to utilizing digital payments and transactions. Service providers are also growing in number and have arrived with their unique ecosystems.”

The arrival of CBDC, Kharim said, will remodel Indonesia’s payment system. “But as a digital bank that provides a number of digital transaction services, [we] positively welcome [Bank Indonesia’s plan to issue digital currency] and will continue to innovate the services.”

Kharim further explained that BI’s digital currency issuance will benefit the public as a whole as it will help increase the availability and role of a central bank. Digital currency is also useful to support the implementation of monetary policy and financial stability. “For example, the use of digital currency for the distribution of cash assistance or subsidies for the community.”

On the other hand, the issuance of digital currencies by central banks will also reduce the risk of the emergence of many privately made digital currencies (which are commonly called stablecoins). For banking circles, the existence of digital currency will also encourage innovation in payment systems to be more efficient and competitive.

Meanwhile, Bank Mandiri chief economist Andri Asmoro said the issuance of digital currency by the central bank is an initiative that deserves support. It echoed Kharim’s positive attitude towards the concept of the presence of CBDC and how it can be a gamechanger for economic activity. “Especially in the cashless ecosystem, transactions will be faster, cheaper, and more practical. The benefits are many, both for businesses to the household level,” he said.

The application of digital currency, according to Andri, can be a solution for many countries that are still having difficulty improving people’s access to financial services. 

“The existence of a CBDC is important for a country where many people are still unbanked.”

The technology used in the CBDC (digital ledger) will also reduce the risk of losing public funds stored in banks if the bank company collapses. “Ledger technology allows the tracking of people’s money movement. It is also safer because it can minimize fraud and other crimes.”   link

Source: Dinar Recaps

Al-Kazemi: Iraq is stronger than it was before and stands with greater confidence on the international stage and draws its own footsteps

Friday , is a window for the new rate release…..so far

Agreed ulued

I think it be an overnight event because everyone is ready with all preconseved processes in place…

I guess I misunderstood Tony, I thought we really wouldn’t know anything until after the end of the weekend.

We can know something on friday but not see it til weekend or later

Curious to see how things unfold with the Iraqi delegate at the UN forum starting today in NY & to run through tomorrow. The minister of planning is supposed to discuss the economic reforms Iraq is implementing. Sounds like the Food Law is getting some pr.

Source: Dinar Recaps


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