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“Please Come to an End” – Thurs. AM-PM KTFA Thoughts/News 10-6-22

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KTFA

Wagmister » October 6th, 2022

The undereducated Iraqi people need to learn to count all over.  Per Frank it’s new to them.  COINS might be the key to the RI.  Frank states they changed the rate 20 years, oops they are going to do it again, coins, coins and coins.  IMO  ….good thing Halloween is here and this nightmare, please come to a end, happy Groundhog Day!!!!

Samson » October 6th, 2022

Oil: Iraq’s exports will not be affected by the decision of OPEC Plus to reduce production

5th October, 2022

Wednesday, Oil Minister Ihsan Abdul-Jabbar Ismail confirmed that Iraq’s exports will not be affected by the OPEC Plus decision to cut production

During his attendance at the forty-fifth meeting of the Joint Ministerial Monitoring Committee and the thirty-third ministerial meeting of the (OPEC Plus) group, which was held at the headquarters of the General Secretariat of the Organization of Petroleum Exporting Countries (OPEC), in the Austrian capital, Vienna, Ismail said that “the ministerial meeting discussed developments and challenges facing the oil market, and the consequences thereof, especially after the recent decline in oil prices and the instability of oil markets

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The Minister of Oil stressed, according to the statement, “the keenness of the producing countries in OPEC and its allies from outside the organization to achieve more stability and balance between supply and demand

Ismail indicated that “the ministerial meeting seeks and aims to achieve more stability and stability in the long term,” noting “the gains made by the OPEC Plus group in reaching and maintaining stability and balance for the oil markets, which was positively reflected on the economies of the producing countries, including them.” Iraq

The Minister of Oil pointed out that “the decision to reduce production came in line with the wise policy pursued by OPEC Plus during the past years, which is represented in “proactive” in precautionary measures to confront the fluctuations of the oil market. Ismail noted that “the ministerial meeting of “OPEC Plus” decided to reduce the total production by two million barrels per day, with the contribution of all producing countries, and according to the production levels required for each, as of next November 2022

He pointed out that “the decision aims to protect the oil markets from the negative effects as a result of the conditions and challenges facing global markets,” noting that “Iraq aims to maintain its reference production level, which was set by the agreement of the member states in July 2021

Ismail indicated, according to the statement, that “Iraq’s exports will not be affected by this reduction, as a result of managing internal consumption and in line with the decision to reduce production, in order to preserve the current export capabilities,” expressing his hope that “this decision will return with more stability and balance to global oil markets, and to the economy.” the National   LINK

Source: Dinar Recaps


Samson » October 6th, 2022

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World Bank: Oil developing countries will achieve 4% growth led by Iraq

6th October, 2022

The World Bank expected that developing oil-exporting countries are expected to join the Gulf Cooperation Council and achieve growth, but at lower levels, with expectations that 2022 will witness a rise in growth rates to 4.1%, led by Iraq, with growth reaching 2.7% in 2023

The World Bank added, in the latest report on economic developments in the Middle East and North Africa, entitled “Enhancing Transparency and Accountability in the Region”, that the economies of the Middle East and North Africa region will grow by 5.5% in 2022, to record the fastest growth rate since 2016, to reach The pace of growth to 3.5% in 2023, while it is estimated that growth in the Gulf Cooperation Council countries will accelerate to 6.9% in 2022, driven by hydrocarbon exports, with a growth rate of 3.7% in 2023

The report pointed out that growth is uneven across the region as countries that are still striving to overcome the lasting effects of the “Covid-19” pandemic, are facing new shocks due to high oil and food prices due to global geopolitical tensions, high global interest rates as well as The slowdown in the economies of the United States, China and the Eurozone

The report indicated that for developing oil-importing countries, it is expected to achieve a growth of 4.5% in 2022 and 4.3% in 2023, and Egypt leads this group, recording a growth of 6.6% in the fiscal year ending in June, driven by gas exports, communications and tourism

The report concluded that the oil-exporting countries in the region will benefit from the high prices of hydrocarbons (oil and gas), while the oil-importing countries in the region face adverse conditions, as they suffer from increased pressures and risks as a result of high import bills, especially food and energy imports, and the shrinking space available for spending in their public finances

The report emphasized that slow economic growth in the United States and China and the possibility of recession in Europe pose risks, especially in oil-importing developing countries that rely more on tourism and external demand from Europe, as this group of countries depends more on trade with the euro area, especially countries Importing oil in North Africa and geographically closest to Europe

The report pointed out that policy makers throughout the region have introduced some measures, especially price controls, subsidies and subsidies, to reduce the salty prices of certain commodities such as food and energy compared to their international prices, noting that this matter had an impact in keeping inflation in the region lower than in other regions. He pointed out that the average inflation in Egypt during the period from March to last July amounted to 14.3%, although it would have been higher at 18.4% if the competent authorities had not intervened

The report pointed out that the governments of the region will continue to incur additional expenditures to increase subsidies and cash transfers to mitigate the damage to the living standards of their residents due to the rise in food and energy prices globally, while for the Gulf Cooperation Council countries and developing oil-exporting countries, this is not a major concern. Currently, as unexpected revenue increases due to higher hydrocarbon prices have significantly increased fiscal space and will lead to fiscal surpluses for most oil-exporting countries in 2022, even after increased spending on inflation mitigation programmes

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The report expected an acceleration in the per capita real GDP growth for the region to 3.9% in 2022, before declining to 2% in 2023, but this growth varies between groups of countries, and it is expected that the growth rate of per capita GDP will accelerate In the Gulf Cooperation Council countries, it will reach 5.5% in 2022, while the growth rate will reach 2.5% for the developing oil-exporting countries in the same year

The report pointed out that for oil-importing developing countries, the per capita GDP growth rate is expected to remain at about 2.9 percent in 2022, and 2.7 percent in 2023. The report expected that the current account balances and public finances for the Middle East and North Africa region will improve significantly in 2022, to reach 10.5% and 1.9%, respectively, driven by the rise in hydrocarbon prices. In the Gulf Cooperation Council countries, the current account balance is expected to rise to 17.2% in 2022, and 14.6% in 2023, from 7.9% in 2021. LINK

A financial expert determines when the dollar will end completely!

6th October, 2022

Andrei Vernikov, an independent financial expert, said that the establishment of a global reserve currency alternative to the dollar will take decades, noting that the dollar is strong despite its negativity, but confidence in it is still high.

The financial expert explained his position by saying that “many countries of the world, on the one hand, have large debts in dollars, and on the other hand, some countries export natural resources, the value of which is declining due to the rise in the value of the dollar, but the cycles of the rise and fall of the dollar alternate constantly,” explaining in this context, developing countries suffer at some point, and then profit again.

Vernikov assumed that the real alternative to the dollar in world trade should have a history spanning at least several decades, while at present, even the euro could not become such an alternative, and the cryptocurrencies that were expected to play such a role too volatile, in his view.

The financial expert also noted that trade in national currencies between some countries is quite possible. And that Russia, in particular, is already making such deals with a number of neighboring countries.   LINK

A Kurdish party talks about a UN intervention to end the president’s crisis

6th October, 2022

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The Kurdistan Democratic Party confirmed today, Thursday, that there is an international intervention regarding going to an agreement and nominating one person for the President of the Republic.

The leader of the party, Wafa Muhammad Karim, said in an exclusive interview with “Mawazine News”, that “there is interference from the United Nations representative in Iraq, Jenin Plasschaert, to reach a Kurdish agreement and to nominate one person for the presidency of the republic,” noting that any interference from foreign countries or others. It is not relevant because this file is considered an internal matter and it is not permissible to interfere in it.”

He indicated that “there are visits from some consulates of foreign countries in the region, and their visits are limited to dialogue and consultation without pressure.”

He pointed out that “only the United Nations intervened in this matter,” noting with the holding of the parliament session, it is possible to reach a solution to this matter, and without holding it, matters will remain suspended.”

He stressed that “the selection of the President of the Republic depends on holding a parliamentary session, which will help reach a solution.” LINK

“Taslujah” hosts the 15th edition of the Sulaymaniyah International Fair

6th October, 2022

The Sulaymaniyah Chamber of Commerce and Industry announced today, Thursday, the completion of all preparations for the launch of the activities of the fifteenth international exhibition on the fairgrounds in the “Taslujah” area, with great participation. 

The Director General of the Chamber, Salam Abdullah, said during a press conference attended by Shafak News Agency, that the 15th International Exhibition will open in Sulaymaniyah from 11 to 16 October.

He added that more than 150 companies from 12 Arab and foreign countries will participate in the exhibition, in addition to local companies.  He pointed out that this year’s exhibition will be supported by the Federal Trade Ministries, the Kurdistan Region and the Investment Authority.  LINK

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Al-Kazemi: Iraq needs a government and a budget, and the crisis is a crisis of confidence

06/10/2022 11:31:18

Prime Minister Mustafa Al-Kazemi confirmed, on Thursday, that Iraq needs a government and a budget, and its absence for this long is unacceptable.

Al-Kazemi said in a statement received by {Euphrates News}, that “this government, despite the difficult political and economic conditions, and despite the absence of the budget, has steadfastly pursued its vision and overcame many obstacles, and it continues to do so tirelessly,” noting that “Iraq needs a government and a budget, and its absence for so long is unacceptable.”

He added, “These circumstances and this obstruction must be resolved and must end, for the sake of Iraq and the Iraqis, and for the sake of building the state and its institutions,” adding, “The crisis today is a crisis of confidence, and it can only be restored or repaired through frank and constructive dialogue.”

Al-Kazemi explained, “The solution is to return to the table of dialogue and discussion, put aside differences and speak in all honesty and integrity, to come up with realistic solutions that end this political crisis,” explaining, “We are destined to understand, cooperate, meet and engage in dialogue, we are the people of one country, and our national and moral responsibility is to preserve it.” And on his abilities, and bear the full responsibility at this historical moment.

He continued, “I call on the brothers in the governorates, the governorate officials, to assume their national and moral responsibilities. They have the authority to address any defect in accordance with the legal contexts and the directions provided to them.”

He stated, “The world has changed, and the concepts of political and economic relations have changed in favor of development and cooperation, and this is what we do when we look for partners and cooperate with them to develop our country and secure the needs of all our people.”

Al-Kadhimi continued, “Today, we are laying the foundation stone for the Iraqi-Jordanian electrical interconnection line project, to devote the project of cooperation and partnership, and positive interaction with our surroundings, in the service of our country and people. policy of openness and cooperation. And he added, “We have previously worked on the electrical connection with Saudi Arabia and the Gulf states, and the agreement was signed at the Jeddah conference months ago and we worked on several clean energy projects with reputable international companies, to keep pace with the developments of the times and the challenges of the environment.”

Al-Kazemi pointed out that “Iraq today enjoys great confidence, weight and presence… and we are trying to invest this privacy, and this opportunity, in the service of Iraq and the Iraqis.”   LINK

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The sentencing of Iraqi officials in the Ministries of Defense and Reconstruction and Housing

6th October, 2022

The Federal Integrity Commission announced today, Thursday, the issuance of two verdicts convicting officials in the Ministries of Defense and Construction and Housing, Municipalities and Public Works.

In a statement received by Shafaq News Agency, the commission’s investigations department said that the Karkh and Al-Hilla Criminal Courts, which are specialized in cases of integrity, issued two prison sentences and imprisonment in absentia against the director general of the General Directorate of Budget and Programs in the Ministry of Defense and the director general of the municipalities of Babylon, the former; For deliberately causing damage to the funds and interests of the entity in which they work and committing something that violates their job duties. 

The circuit added that the Karkh Criminal Court issued a six-year prison sentence to the convict, the former Director General of the General Directorate of Budget and Programs in the Ministry of Defense; For deliberately causing damage to public funds by disbursing the amount of a contract concluded by the Ministry to supply (400) four-wheel drive “Land Cruisers” and (100) ambulances to persons not authorized to receive delivery.

And it indicated that the Hilla Misdemeanors Court, which is competent to look into integrity issues, sentenced the former director general of the municipalities of Babylon to severe imprisonment for a period of two years, for violations committed by him to the terms of the purchase contract (4) vehicles of “waste caps” type “azuz” for the benefit of the municipality of Al-Qasim from the General Company for the Automotive Industry and equipment in Alexandria.

The department indicated that the convict did not calculate the fines for the delay on the company after the expiry of the processing period of (180) days, in addition to paying 95% of the contract value. She confirmed that the two courts issued two judgments in absentia based on the provisions of Articles (340 and 331) of the Penal Code, and issued an arrest and search warrant against them, while supporting the seizure of their movable and immovable property.  LINK

Source: Dinar Recaps


Samson » October 6th, 2022

The birth of the largest European gathering to announce a new world order

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06/10/2022 17:45:32

More than forty European leaders are meeting in the Czech capital, Prague, to attend the first summit of a new political grouping known as the European Political Group.

Russia and Belarus were not invited to the talks, which will include discussing energy, immigration, and security issues as well as addressing the challenges of Russia’s military operation in Ukraine.

Supporters of the initiative, adopted by the French president, insist that the launch of the new political grouping is an important step towards expanding European cooperation and solidarity in the face of Russian aggression. However, there are those who question the forum’s ability to deviate from the framework of discussions and dialogues.

The summit will be attended by British Prime Minister Liz Truss, who has fallen out with European leaders on more than one occasion, following Britain’s exit from the European Union.

This meeting entails an informal summit of European Union countries, tomorrow, Friday.  LINK

DoTalkToMe » October 6th, 2022

Just a ? Since Iraq is having issues with stumbling at the finish line. 
Why would they not let all other currencies go first to stop us from doubling down.
If Iraq went first I would immediately buy 50 grand of VND. 
All boats rise with the tide. Not suggesting a GCR, but we do know about some currencies that may be involved.   Food for thought.

Source: Dinar Recaps

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