“RI in Effect Now” – Wed. AM TNT Thoughts/News 9-7-22

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Tishwash:
The leader of the Sadrist movement, Nassar al-Rubaie, files a lawsuit against Nuri al-Maliki

The Secretary-General of the Sadrist bloc, Nassar al-Rubaie, filed a lawsuit against the head of the State of Law coalition, Nuri al-Maliki, on Wednesday, regarding the audio leaks attributed to the latter.

The lawsuit showed a request to issue an arrest warrant against Al-Maliki and prevent him from traveling.   link

KaseyKo1:
Well, I’m fairly excited that we’re about to see a chg made in the rate. I’ve been watching the sell/buy rates from the dealer I have used closely for the past 12 yrs. I have never seen a large chg in the rate pricing in the short period of a matter of months for the entire time I have been in this venture. From what I’ve been reading from numerous sources, appears there may be an RI in effect now.

Based on this, I contacted my currency dealer to find out their processes when a rate chg is made, if in-country or int’l rate is used for them to determine what they will charge. Appears in ALL countries, the in-country rate is one of the factors used to determine what they will charge themselves. Couldn’t divulge any further info to me on the other factors determining what they will charge.

What I can say is this: In a matter of months, the dinar rate has jumped up a little over double for what I was charged only a matter of months ago. I did read not too long ago an article coming out from the CBI on slowly rolling out the rate chg, so as not to have a great strain on the market effects from the exchange. I can’t help but think that we are even closer to seeing the RV now than we have ever been.

From what my dealer told me – who I’ve used for 12 yrs – each company can have a difference in their factoring mechanisms in determining the rate they will charge. My dealer has always stayed very consistent with their pricing thru the yrs, until now.

KMan:
Something that isn’t being widley reported other than on YouTube, are arrests taking place of those that hold positions of power in the government. https://www.youtube.com/watch?v=JMnV-zSEjvs

Maggie:
Iraq is in the same boat we are, if all the corrupt government officials were locked up only the house keeping staff would be left.

Tishwash:
Legal: There is no new postponement of the lawsuit to dissolve Parliament, and the Federation will decide on the decision today

Legal expert Ali Al-Tamimi confirmed, on Wednesday, that the Federal Court will pronounce the verdict on the case for dissolving Parliament today, indicating that the court will not resort to postponing the decision on the case. 

Al-Tamimi said in a statement to /the information/, that “the Federal Court will decide its decision, today, regarding the lawsuit submitted by the Sadrist movement to dissolve the House of Representatives.” 

He added that “the Federal Court will not postpone its decision because of the completion of all the corners of the case,” stressing by saying, “We will not be able to predict what the court will decide, and when the decision is issued, we will have a word.” 

The Federal Supreme Court had decided, earlier, to postpone its decision regarding the dissolution of the House of Representatives until Wednesday, the seventh of September of this year.  link

Tishwash:
Great anticipation in the Iraqi street for the decision of the Federal Court regarding the lawsuit to dissolve Parliament

The political and popular circles in Iraq are awaiting today, Wednesday, the issuance of the Federal Supreme Court’s final decision regarding the case for dissolving Parliament, submitted by the “Sadr Movement”.

And political actors in the country confirm that any decision issued by the court today will shape the Iraqi political scene during the next stage.

This comes especially with the anticipation of another Federal Court session at the end of this September, regarding the constitutionality of Parliament Speaker Muhammad al-Halbousi’s decision to accept the resignations of the Sadrist movement’s representatives on June 12, without holding a parliamentary session with a full quorum. The court today’s case to dissolve Parliament, the end of the month session will be unnecessary.

And the Federal Supreme Court in Iraq decided, last Thursday, to set a session to pronounce the final ruling on the case brought before it to dissolve the House of Representatives, its date today.

The session will be held at twelve noon today, according to the local time of the capital, Baghdad, inside the Federal Supreme Court building located inside the Green Zone.

The decision of the Federal Supreme Court may throw the ball into Parliament’s court and obligate it to proceed with the constitutional entitlements, within a certain period of time.  link

CandyKisses:
Russian report reveals the backstage of the management of the Iraqi economy in the absence of a budget – urgent

Baghdad – NAS  

A Russian report highlighted how the Iraqi economy is managed in the absence of a state budget.     

The report prepared by Sputnik and followed by NAS, (September 6, 2022), said that “there is a law for financial management in Iraq in the absence of a general budget for the country due to circumstances beyond its control, a law that allows the state to divide its resources by 1 by 12, i.e. resources are divided monthly, and through this system the main expenses of salaries, wages and necessary expenses are paid, while the investment budget stops, according to the Iraqi economist Salam Smaisem.”  

The full text of the report is as follows:  

More than two years have passed since the work of Iraq’s general budget was halted amid political confusion, which in turn has created uncertainty in the crisis economic reality.  

This came as a result of the country’s resources relying more than 90 percent on oil resources to finance government activities and pay pensions and salaries.  

What methods does the Iraqi Government rely on in the conduct of its financial affairs in the absence of a budget, how are disbursements, controls, resource collection processes carried out and the future status quo is based on other service activities?  

First of all, Iraqi economist Adel al-Ashram says, it is known that the Iraqi economy depends primarily on oil resources, as Iraq is one of the leading oil countries in the Arabian Gulf.  

Oil Revenues  

“During the past years, many previous Iraqi governments have sought to diversify sources of revenues, as they aimed to create new sources of revenue for the budget and not to rely entirely in the budget on oil revenues only, where there was an advanced Iraqi industry and agricultural and commercial activity, and also there was an activation of activity related to other resources such as car trade and others, and all of the above were important factors contributing to building the economy and reflecting on the lives of people in this country.  

The economist continued: “But after 2003, all sectors related to the agricultural, industrial, commercial and service fields that have to do with local industrial activity stopped completely and we witnessed a process of transformation within external bodies supporting activity and economics outside the borders of Iraq that take advantage of the effort or accumulation related to the materials in Iraq to sustaintheir economic activity.  

He added: “The Iraqi economy was disrupted after this period and oil remained because it has benefits for the agenda that controls Iraqi affairs, whether the internal agenda linked to the outside, or the external agenda that imposed the internal agenda associated with the outside and these come through deals, and through extortion, not to mention what is smuggled from this important resource, and what comes from it of money that also goes to serve this agenda.”   

Disrupted economy  

Adel al-Ashram pointed out that the government relies mainly on resources that come from oil through a fund calledasovereign or federal fund located outside Iraq, but within the framework of a smooth flow that the government gets in case of passing salaries and doing some partial projects and arms deals.  

“Lawmakers always seek to adapt them to the state of balance between expenditures and revenues, that is, there is no real budget that takes into account the issue of sound economic construction,” he said, adding: “The Iraqi economy is completely disrupted.”  

Financial Management Law  

For her part, Iraqi economist Salam Smasim says that there is a law for financial management in Iraqin the absence of a general budget for the country due to circumstances beyond its control, a lawthat allows the state to divide its resources by 1 by 12, that is, resources are divided monthly, and through this system the main expenses of salaries, wages and necessary expenses are paid, while the investment budget stops.  

“Another way is the food security law passed by the current Iraqi parliament, which is an emergency law, and in fact it is like an urgent plan for spending, under which there are 53 billion dinars that will be for the necessary expenses,” she added.  

“The law also included some aspects of investment, as the Iraqistate is now followingthis pattern, and frankly we do not currently have more than that in terms of economic legislative flexibility.”    

Absent transparency  

The economist continued: “We are waiting now, because there can be no general budget for the state unless the Iraqi parliament approves it by law, and as long as the parliament is not closed there is no general budget.”  

On Iraq’s achievement of a large surplus of oil sales and its going to borrow from the International Monetary Fund, Salam Smasim said: “The loan policy follows the policy of the government, and oil revenues no one knows where they are.”  

“It is normal for these funds to be with the ministry, and therefore all public expenditure dues are paid,” he added.  

“I asked for transparency on those things but we don’t know which of those money went.”  

Iraq has witnessed bloody clashes that killed more than 30 people and a large number of injured people after supporters of the Sadrist Movement stormed a number of government headquarters in Baghdad, immediately after the leader of the movement, Muqtada al-Sadr, announced his retirement from political work.  

Supporters of the Sadrist Movement withdrew from the street, in compliance with the directives of the leader of the movement, who criticized what he described as the “revolution” and the violence that permeated the protests.  

The decision of Iraqi leader Muqtada al-Sadr to retire from politics comes months after the movement fought against the “coordination framework” (which includes Shiite parties and forces) to form a majority government, after the Sadrist movement won a majority in parliament.  

Source: Dinar Recaps

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