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“Trying to Figure out Iraq” – Sun. PM TNT Thoughts/News 10-9-22

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TNT

Tishwash:
A member of it: Parliamentary Finance is awaiting sending 3 important laws

A member of the Parliamentary Finance Committee, Jamal Cougar, confirmed today, Sunday, that the committee is waiting for 3 important laws to be sent by the government.

Cougar told Al-Furat News that: “The laws that the government will send, such as the budget law, the law to unify the salary scale, or a law similar to the emergency food support law are awaiting.”
He stressed “the priority of the budget law in sending it to the House of Representatives, especially since time so far will allow for that.”

“There is time and space for all political parties to form a government,” Cougar added. link

Yada:
The Kurds have not presented a candidate. They keep referencing the 2018 election and that was when two candidates were presented and all of parliament voted in the President. Looks like that is what they want to happen again so they can wrap this up before the UN comes in and takes over.

Annie68:
What do you think the chances of Kurdistan staying with Saleh?

Yada:
annie. We know Sadr has the greatest influence and thus far stopping the formation by the Framework. Glad he is because they want to keep the consensus government, the government that has everything backed up now. BUT,,,The Kraken is at their door. Kurds want to pull the trigger but will they all let it all collapse for the sake of stopping the Framework . What would you be willing to do?

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CharlieOK:
Trying to figure out Iraq from articles coming out of Iraq is useless. The crooks are in the henhouse and there they will stay until the US/UN turns out the lights.

Yada:
Charlie, now the UN put them on notice with all their shanigans and they know who is coming for them.

Tishwash:
The Central Bank announces the printing of a new category

The Central Bank of Iraq announced the printing of the new 20 thousand dinars denomination, which will be included in the normal monetary practices of the Central Bank and within the framework of reconsidering the structure of the national banknote series.

This category will be intermediate to the structure of the coins and will be enhanced with high security marks from the latest globally and will provide an addition to the smaller denominations such as the five thousand and the ten thousand.

The twenty thousand denomination will be of the (standard) size under which the fifty thousand denomination was printed, and it will also bear Iraqi features, as was done in the currencies that preceded it.

The 50 thousand category is sufficient at the present time for the upper limit of the Iraqi currency, which is a very strong and sober category and can be used for storage, savings and cash transactions.  link

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Samson:
Parliament gives the central bank governor 7 days to answer questions about the currency sale window

On Sunday, the First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, gave the Central Bank of Iraq one week to answer the questions of the Finance Committee regarding the currency sale window, stressing the need to take more effective precautionary measures to address the inflation caused by the devaluation of the dinar against the dollar.

This came while he chaired an expanded meeting of the Finance Committee, in the presence of Central Bank Governor Mustafa Ghaleb Mokhief, according to a statement received by Shafak News Agency. Al-Mandalawi said, “The Central Bank is directly responsible for implementing the country’s banking policies, and it is concerned with developing the work of banks and monitoring their work in order to protect citizens’ deposits and keep pace with the global development in this important sector on which the state depends to develop the rest of the sectors such as industry, agriculture, investment, tourism and others, stressing the “The bank must take more effective precautionary measures to address the inflation resulting from the devaluation of the dinar against the dollar.”

During the meeting, a number of questions were raised by the members of the Finance Committee related to the currency sale window of the Central Bank, the loans of the industrial and housing initiative, the Central Bank’s policies regarding increasing the capital of commercial, Islamic and private banks, custodial banks, letters of guarantee, and the bank’s supervisory role over banks, and to come up with a sentence From the recommendations, and agreeing to hold another meeting soon to answer the questions raised and to provide a full briefing on all topics and details.”

According to the statement, Al-Mandalawi gave the Central Bank a period of one week to answer clearly the questions submitted by the members of the Finance Committee, and to provide the Committee with all documents related to the file of letters of guarantee and the currency sale window. link

CandyKisses:
The United States launches an attack on “OPEC” and India is “surprised”

America launched an attack on the OPEC alliance after the latter cut its oil production by two million barrels per day, after oil prices fell to less than $90 a barrel

America: The cut is supportive of Russia

US Treasury Secretary Janet Yellen said that the OPEC + decision to reduce oil production wasunhelpful and unwise” for the global economy, especially emerging markets, expressing its deep concern about developing countries and the problems they face

The White House also said in a statement signed by National Security Adviser Jake Sullivan and Senior Economic Adviser Brian Dees that Biden was “disappointed by the short-sighted OPEC+ decisionAs for presidential spokeswoman Karen-Jean-Pierre said that the decisionconstitutes a mistake,” adding, “It is clear that through his decision today, the OPEC + alliance stands with Russia

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India surprised by the amount of the reduction

As for India, it is the third largest consumer and importer of oil in the world, and it relies heavily on its imports from the Arab Gulf states and Russia in the recent period. It was surprised by the decisionIndian Oil and Natural Gas Minister Hardeep Singh Puri said that the global market was preparing to reduce production by about one million barrels per day, so many countries in the world were surprised by the decision to reduce production by two million barrels

The Indian minister expected that oil prices will rise due to the lack of crude supplies that will be put on the global market, adding that the rise in oil prices will contribute to exacerbating the economic stagnation, which in turn will lead to a reduction in demand, and the matter will turn in a vicious circle

OPEC: America’s emotional statements

Saudi Energy Minister Abdulaziz bin Salman said, after the first in attendance meeting of coalition members since March 2020, that the priority of “OPEC +” is “to maintain a sustainable oil market

MeanwhileIraqi Oil Minister Ihsan Abdul-Jabbar said that the decision prevents the continued decline in oil prices. Sumo added that Iraq’s share of production after the reduction will reach 220,000 barrels per day

Meanwhile, Saudi Minister of State for Foreign Affairs Adel Al-Jubeir confirmed that his country does not “politicize” oil and that the rise in oil prices in America is due to a lack of refining capacity, in response to Washington’s criticism of the OPEC + decision to cut production during its meeting last weekAl-Jubeir considered that the statements made by US President Joe Biden and a number of members of the Democratic Party were “emotional” and interfered with the preparation of the upcoming midterm elections in America

The organization, which includes 13 countries and its 10 allies led by Russia, agreed that during their meeting in Vienna it was agreed to cut production by two million barrels per day, starting in November, in what is the largest reduction since the height of the Covid pandemic in 2020

Source: Dinar Recaps

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