“Looking Good” – Sat. PM TNT Thoughts/News 8-13-22

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CandyKisses:
Al-Tamimi: The Federal Court Can Dissolve Parliament According To These Articles

Legal expert Ali Al-Tamimi confirmed, on Saturday, that exceeding the constitutional periods and the failure of constitutional institutions, including Parliament, allows the Federal Court to dissolve Parliament, indicating that the general principles contained in the civil law confirm that the legislative institution, when it fails to perform its role, the judiciary takes over dissolving it.

Al-Tamimi said in a statement to / the information /, that “the Federal Court can dissolve Parliament in accordance with Articles 47 and 59 of the Civil Code related to the failure of its constitutional role and exceeding the constitutional periods.”

He added that “the general principles contained in the civil law confirm that when the institution is unable to perform its role, the judiciary takes over dissolving it,” noting that “the Federal Court has a general and mandatory decision-making mandate, in accordance with Articles 92, 93 and 94 of the Iraqi constitution.”

Al-Tamimi expected that “the court will move to dissolve parliament, which has become a popular demand.” 

Tishwash:
Parliamentary Energy reveals proposals to amend the Hydrocarbon Wealth Law

The Parliamentary Oil and Energy Committee revealed, today, Saturday, proposals to amend the Hydrocarbon Wealth Law.

Committee member Ali Shaddad Al-Faris told {Euphrates News}, “We had an intention to host the Minister of Oil, with the agreement of the members of the committee, to find out the latest developments in the oil and gas sector, in addition to the fact that oil selling prices are in light of their continuous rise,” noting that “the Ministry of Oil wants to move forward.” with strategic projects.

Al-Faris stated that “the committee intended to legislate the federal oil and gas law, as well as proposals to amend the hydrocarbon wealth law, in addition to projects proposed by the committees regarding oil coexistence and oil environmental coexistence.  link

The Game of Thrones may topple the pockets of employees and small earners in Iraq… an Iraq without budgets or salaries

The economic expert, Mahmoud Dagher, stressed that approving the country’s general budget is still an urgent necessity to support the Iraqi economy, as the food support law did not cover all aspects, specifically the investment aspect, which is one of the most important aspects in budgets.

Dagher said, “Disrupting the approval of the budget destroys the Iraqi economy because it negatively affects important sectors that need large investment projects, and at the forefront of those sectors is electricity, which needs projects in production, transportation and distribution, as well as public transportation methods.”

Noting that “the public roads, specifically the ones linking the center and the south with the Kurdistan region, are very bad, and the presence of negatives in those roads not only affects the high rate of accidents, but also raises the price of goods due to the high risk of being damaged.”

In addition, economic circles warned against entering the new year without approving the state budget for the second year in a row, stressing that this would mean the inability of the current government to pay the salaries of employees, retirees and others.

They stressed that “this abnormal situation may end with an uncalculated fall of the national economy, and entry into a labyrinth that is difficult to get out of   link

Harambe:
Zimbabwe central bank considers currency board | Bulawayo24 News (8/12/22)

ZIMBABWE is considering establishing a currency board to support the Zimbabwean dollar, as inflation surges.

The southern African country is fast moving back into a hyperinflationary crisis, about 14 years since its unit collapsed in 2008 after the rate hit 500 billion percent.

The annual inflation shot up to 256% last month, after ending at 191,7% in June. The rate was 131,7% in May leading to fears that inflation may reach four digit figures by the end of this year. Authorities agreed to switch to a multi-currency system in 2009, before policy changes in 2019 brought back the Zimbabwean dollar as the sole medium of exchange in local transactions.

But the currency has been haunted by hyperinflation, which has eroded its purchasing power.

To address the crisis, the government allowed the United States dollar to operate alongside the domestic unit in 2020, but this has failed to stem its depreciation. Bloomberg reported on Thursday that a monetary policy committee member had confirmed that authorities were looking at the possibility of introducing a currency board.

“The issue of the currency board is being looked at,” Ashok Chakravarti, a member of the central bank’s monetary policy committee, said on Thursday at an economic conference in the resort city of Victoria Falls, according to Bloomberg.

“It’s been done by 40 countries before, but it also requires a substantial amount of reserve money. It is being considered.”

A currency board must among other requirements back all units of domestic currency in circulation with foreign currency.

Zimbabwe will need about US$700 million to back the domestic money in circulation, Chakravarti said.

Reserve Bank of Zimbabwe Governor John Mangudya did not answer two calls by Bloomberg to his mobile phone seeking comment.

In a paper published in the Zimbabwe National Chamber of Commerce 20212022 report, Tinashe Murapata, an economist and founder of Leon Africa said to solve currency problems, Zimbabwe had two options: dollarisation or adoption of a currency board.

A currency board is a pegged exchange rate mechanism that guarantees full convertibility of domestic currency to an anchor foreign currency or a basket of currencies.

Under this system, the total monetary base of the economy is supported or backed by international reserves. The pegged exchange rate creates a stable currency and stable prices but takes away the ability of a country to increase its money supply willy-nilly.

“If Zimbabwe is to adopt a currency board, all issued domestic currency will be backed fully by an anchor currency. The anchor currency can be a basket of currency determined and weighed by our trading partners or hard metal commodities like gold, silver and platinum,” he said.

“It could very well be a combination of the above but essentially every issued domestic money must be fully convertible on demand for foreign currency at a fixed rate that does not change over time.”

Murapata said the currency board should maintain an international account where it stores or deposits all foreign currency receipts as reserves.

These reserves, he prescribed, should be held by South Africa Reserve Bank and the African Development Bank who will act as an underwriter for every issued local currency.

“They will agree to underwrite full convertibility of the local currency with what is in the reserves. Furthermore, a weekly audit performed by an audit firm confirms what is in the offshore reserves and i•n the issued currency,” he said.

https://bulawayo24.com/index-id-news-sc-local-byo-222299.html

Source: Dinar Recaps


Tishwash:
Alaa Al-Rikabi: Dissolving Parliament without setting a date for elections means that the current government will remain

The Secretary-General of the extension movement, Alaa Al-Rikabi, said today, Saturday, that the dissolution of Parliament without setting a date for a new round of elections means that the current government will remain.

Al-Rikabi wrote in a blog post on the “Twitter” platform, which was seen by Earth News, that “the parliament is now dissolvedwithout forming a temporary rescue government for a year, for example, and it will be formed of independent ministers, without setting a date for a new round of parliamentary elections, without changing the election law.” 

What does it mean… it just means that Al-Kazemi and Barham will remain, both of whom have expired, and the government will remain, but without parliamentary oversight.”

About ten months after the early parliamentary elections were held in Iraq, the political process is witnessing a blockage, which began with the opposition of the coordinating framework forces on the results of the elections, followed by the suspension of the sessions for selecting the president of the republic by the framework, and the failure to form a “majority government” by the leader of the Sadrist movement Muqtada Al-Sadr, which prompted the Sadrist bloc’s deputies to resign from Parliament

Before Al-Sadr directed his supporters to an open sit-in inside the parliament building in the Green Zone in central Baghdad; In protest against the nomination of Muhammad Shia al-Sudani for prime minister, it was met with an open sit-in similar to the tire crowd in front of the Green Zone gate from the side of the suspension bridge, in response to al-Sadr’s calls to dissolve parliament and re-elections after his demand to change the system and the constitution.  link

KaseyKo1:
Thanks for posting the great article, Tish! “The Secretary-General of the extension movement, Alaa Al-Rikabi, said today, Saturday, that the dissolution of Parliament without setting a date for a new round of elections means that the current government will remain.”

“Al-Rikabi wrote in a blog post on the “Twitter” platform, which was seen by Earth News, that “the parliament is now dissolved … without forming a temporary rescue government for a year, for example, and it will be formed of independent ministers, without setting a date for a new round of parliamentary elections, without changing the election law.”

What does it mean… it just means that “Al-Kazemi and Barham will remain, both of whom have expired, and the government will remain, but without parliamentary oversight.”

Rgfgood4u:
What does that mean on our chances of having an RV

KaseyKo1:
Looking good. They have a court hearing Monday on the Food Svc Law. Some parts of it are in contention & taken before the court for resolution.

CharlieOK:
kaseyko: Man, on the surface that sounds GREAT for us. Get the Parliament Clowns out of the way. I am really weary of new ways they keep pulling the rug out from under us, though.

KaseyKo1:
What gives me hope that this has REALLY happened is the fact the UN stepped in this morning & said this issue was going to get resolved.

Jwill:
I guess my question is .. is Parliament Officially Dissolved or is this just them talking about it ? Anybody know for sure?

KaseyKo1:
It sounds like it has been but would like to see something a little more official before totally committing to saying it has been done…. I would like to see something coming out from the UN personally about this action having been taken.

Yada:
Evening Kaseyko,,,saw your remark regarding if they dissolved parliament. Reading a few articles, you’d think they did. At least the Constitution specialist just determined that the SCOI can dissolve it because they exceeded the time frames. Something is happening for sure.

KaseyKo1:
Good evening, Yada! Delighted to get your input on these articles to see what you thought. Thank you. It seemed like from this morning’s article where the UN was going to join in on discussions with Iraq this morning, they were not happy with them & were saying this was going to get resolved.

I didn’t think the UN was coming in until the end of next week; however, looks like they moved up their meeting to this morning. Interesting.

Annie68:
Very interesting, for sure!

Yada:
Kazimi will have the rest of the country demanding the dissolution and the court case may have the Judiciary declare it at the same time. I’m also of the mind that the EFSL can be released, with the reforms and rate, without dissolving Parliament with Kazimi declaring a state of emergency

Tishwash:
Dissolution of the Iraqi Parliament.. New parties join and an expert sets off a surprise

The Kurdistan Democratic Party joined the list of parties supporting the dissolution of parliament and the holding of early parliamentary elections in Iraq, while a legal expert blew up a surprise regarding the dissolution of parliament.

In a statement received by the Iraqi Media News Agency / INA, the Democrat stated his support for holding early parliamentary elections, provided that all parties agree and also accept their results, whatever they may be. This announcement is a new development in the Kurdish position, because it came from the largest Kurdish parties, while confirmed sources speak to the media, Only the State of Law coalition and Asa’ib Ahl al-Haq refuse to respond to al-Sadr’s demand to dissolve parliament.

Iraq has been suffering from a political crisis since the early elections that took place last October, through the resignation of the Sadrist bloc, to the sit-in by supporters of the Sadrist movement to demand the dissolution of Parliament, followed yesterday by another sit-in for supporters of the coordination framework to demand the formation of the government.

Legal expert Ali Al-Tamimi says in an interview: “According to Article 64, first, some specialists believe that the Prime Minister and the President of the Republic can dissolve Parliament without the need to vote on the solution in Parliament, as a matter of constitutional balance.

Just as the House of Representatives has the power to withdraw confidence and dismiss the government, the government owns Also, a counter weapon is the dissolution of parliament when it fails to perform its duties.”

He added, “Is it possible for the government to handle daily matters that did not come from this parliament?” This solution is related to public security in the country and the supreme national interest, which is one of the first priorities of the caretaker government, and it is a well-known principle in countries that adopt the parliamentary system.”

He stressed that “the President of the Republic or even the Prime Minister can refer to the Federal Supreme Court’s referendum on this matter…which could be a gateway to dissolving Parliament and ending the great crisis in the country.”  link

Source: Dinar Recaps

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