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KTFA
Samson » September 29th, 2022
It was revealed that there are 300,000 employees receiving more than one salary
28th September, 2022
Wednesday, the Parliamentary Finance Committee revealed that 300,000 employees received more than one salary, while the introduction of a currency of 20 thousand dinars was considered a positive step
Member of the committee, Representative Jamal Cougar, said in a television interview that “salaries will not stop because there is no budget,” noting that “salaries amount to 70 trillion dinars, and this is in violation of international standards
Cougar added, “We need 10 billion dollars a month to secure expenses,” noting that “300,000 employees receive more than one salary. He explained, “Some employees receive 5 salaries
Regarding the central bank’s intention to offer a currency of 20 thousand dinars, Cougar said, it is a “positive step LINK
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MilitiaMan » September 29th, 2022
At present there is no positive step to the issuance of a 20k note. In what world would that make any sense at all at present? Unless, the 20,000 note value is not from a 20k note but from a 20 denomination note with an international acceptable exchange rate attached to it..? A positive step is to cease the graft (fake employees) from the corrupt. imo ~ MM
Samson » September 29th, 2022
Ports announce the completion of their electronic procedures for exempted goods
29th September, 2022
On Thursday, the Border Ports Authority announced the completion of its electronic procedures for exempted goods.
The authority said in a statement, that “under the direct guidance and supervision of the head of the Border Ports Authority, Major General Omar Al-Waeli, the technical cadres completed the completion of the last link of the electronic link of the exempted goods program at the customs center of the ports: (Shalamjah port, Safwan port, Umm Qasr North port, The middle port of Umm Qasr, the southern port of Umm Qasr, the port of Abu Flous port).
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She added, “This came in cooperation with the General Authority of Customs / Southern Region and the General Directorate of Industrial Development,” noting that “this is a qualitative transition from routine paper work to electronic work to facilitate data access and eliminate fraud and manipulation of quantities and descriptions of exempt goods.”
And he continued, “The Border Ports Authority had earlier activated the electronic system for exempted goods in other customs centers as a step of electronic support and attribution for the departments operating at the border crossings, and in implementation of the directives and recommendations of the General Secretariat of the Council of Ministers and the Diwani Order Committee 22 of 2020 regarding activating electronic work at the ports.” borders to achieve complete electronic governance. LINK
MilitiaMan » September 29th, 2022
The completion of the last link means to me they are fully ready for what is expected. They go international the coffers will fill quickly, aside from the oil revenues!!!..imo No coincidences with respect to timing.. imo ~ MM
Samson » September 29th, 2022
Economist: Going to print a currency of 20 thousand dinars will cost Iraq a lot of money
29th September, 2022
The economic affairs specialist, Muhammad Al-Saadi, considered, on Thursday, the Central Bank’s intention to introduce a new currency in the category of twenty thousand dinars, as a futile economic step, and it will cost the country a lot of money.
Al-Saadi told Al-Maalouma, “Proceeding with the printing of a currency of 20 thousand dinars will cost the state great money, as printing money by the Central Bank is an economically complex technical process.”
He added, “Every printed monetary unit must have a balance of foreign exchange reserves, a balance of gold, or real goods and services that were produced in society.”
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Al-Saadi indicated that “the money circulating in the market has a real value and is not just printed papers,” noting that most developing countries usually bypass these rules, and money is printed at rates that exceed the permissible, which leads to high inflation rates.
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MilitiaMan » September 29th, 2022
There has already been allocations of large sums of money to print new currency issuance and it has been recorded and expensed by the CBI in 2018 era.
At this juncture in time, there is no reason to print something that has no real effective utility, imo.. They already have 100k and 50 k notes for internal use for large transactions.
WE have been told over and over that the CBI has upwards of 90 -145 billion in $ reserves and over 130 tonnes of gold. The border income may match or exceed Iraq’s oil revenues. Add in the Natural Gas deals? You get the picture.
The new notes expected will be supported by all that aforementioned and the private sector once the re construction process begins.
Lets see what the GOI does, as we know what the CBI is about to do, or they wouldn’t be talking about deleting the three zeros from the exchange rate now would they? imo.. ~ MM
Samson » September 29th, 2022
The resignation of the Sadrist bloc returns to the fore.. Parliament requests discussion from all sides
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29th September, 2022
The Legal Adviser in the House of Representatives, Muhammad Al-Ghazi, called on Thursday to present the resignation of the Sadrist bloc’s deputies to members of Parliament to discuss it from all technical and legal aspects, because of its impact on the real representation of the House of Representatives.
The following is the text of documents received by “Mawazine News”, explaining Al-Ghazi’s request to present the resignation of the Sadrist bloc to members of the House of Representatives for discussion.
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Al-Mandalawi and Al-Maliki discuss the political, security and economic conditions
29th September, 2022
The First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, discussed today, Thursday, with the leader of the State of Law coalition, Nuri al-Maliki, the political, security and economic conditions.
Al-Maliki’s office said in a statement received by Alsumaria News, that the latter “received in his office today, the First Deputy Speaker of Parliament, Mohsen Ali Akbar Al-Mandalawi, as they discussed the political, security and economic developments in the country.”
Al-Maliki stressed, “the need for the legislative authority to restore its oversight role and work to legislate laws that affect citizens’ service and living lives, and other laws that enhance the work and integration of state institutions.” LINK
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MilitiaMan » September 29th, 2022
My view on these two articles are telling. One where the new FDS (First Deputy Speaker) of the HOR (House of Representatives) has apparently his first meeting, and it is with Maliki..
Then we we see just after the one where Al-Sadr resignation is again in the forefront.
Lets not forget the 2019 uprising in October anniversary is just about upon us again. Sadr has indicated there could be massive demonstrations. Also he suggested post the Al-Hanana meeting that if the politicians take the same past roadmap, he will come for them..
I suspect, the street will be watching closely to Al-Sadr after all the missiles that have been flying around and killing people.. Al-Mandalawi imo may want to be careful, very careful going forward in his new position for the people.. imo ~ MM
Source: Dinar Recaps
Samson » September 29th, 2022
The Central Bank announces the achievement of the largest cash reserve in its history
29th September, 2022
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The Central Bank of Iraq announced, on Thursday, the achievement of the largest reserve in its history, with a number exceeding 87 billion dollars.
The Central Bank adviser, Ihsan Shamran al-Yasiri, told the official news agency, “The Central Bank’s reserves exceeded 87 billion dollars, which is the largest number that the Central Bank of Iraq’s reserves reach.”
He pointed out that “the Iraqi currency is very strong because the reserves constitute 130 percent of the source of circulation from the funds in banks and others, in addition to its function to meet the requirements of traders to import goods.”
He explained, “The reserve is not an absolute number for the economy’s recovery, as it previously reached 40 billion, and the economy was recovering, as the lesson is in the financial guidance and financial discipline that the state contributes to making.”
He pointed out that “every uncontrolled government spending indirectly affects and decreases the reserve,” expressing his hope that “the reserve will exceed $100 billion.” LINK
Source: Dinar Recaps
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