KTFA
MilitiaMan » October 24th, 2022
Looks like they are making headway gathering signatures for the country and the government to be ready for the next move. Seat the government and issue currency publicly. 1190 was not a previous official rate. The demonstrators are getting antsy.. I would think that the Gov is on notice… Get seated or get left out.. imo.. The latter would not be pretty.. ~ MM
Samson » October 24th, 2022
Parliamentary direction to gradually restore the dollar exchange rate
24th October, 2022
A number of members of the Iraqi Council of Representatives demanded the inclusion of the voting paragraph on restoring the exchange rate of the US dollar against the Iraqi dinar to its previous official rate.
A member of the Parliamentary Integrity Committee, Hamid Al-Shiblawi, said, according to an official document obtained by Shafak News Agency, entitled “Reducing the dollar exchange rate”, that “due to the repercussions of the rise in the exchange rate of the dollar against the dinar, which negatively affected the economic situation of the Iraqi family, which burdened the citizen.”
Especially those with low incomes. We, members of the attached list, ask the Presidency of the House of Representatives to include a paragraph to reduce the dollar exchange rate and gradually return it to the previous exchange rate within the work schedule of the next session in the public interest.
The list showed the signatures of 40 deputies so far.
It is noteworthy that the Central Bank of Iraq, on December 19, 2020, officially announced the amendment of the foreign currency exchange rate (the US dollar) to be 1450 dinars, instead of 1200 dinars, for every 100 dollars, according to the state’s general budget for the year 2021 approved by the House of Representatives. .
As a result, according to specialists, the annual inflation in Iraq has risen significantly, so that all prices of materials and goods in the Iraqi market have risen significantly, which has sparked a wave of strong resentment among the popular circles, as well as the objections of some interested in economic affairs.
Ihsan Al-Shammari: The Sudanese government will be devoid of independents and will be consensual between the parties
24th October, 2022
Head of the Center for Political Thinking, Ihsan Al-Shammari, confirmed: “The government of Muhammad Al-Sudani will be devoid of independent ministers and will be consensual between the parties.”
Al-Shammari said in a statement to the National Iraqi News Agency ( NINA ): “Al-Sudani will choose from the lists of names of candidates for the parties, personalities for the ministries according to special criteria that can implement his government program,” pointing out: “Independents and technocrats are all slogans that were in the formation of previous governments because the ministers were of the political parties.
He explained that: “There is currently a scramble and competition between political parties over ministries and their monopoly, and this matter ends after the formation of the government, so that the Prime Minister-designate faces internal challenges, most notably services, unemployment, uncontrolled arms, corruption, poverty, economic, security, and external aspects and his relations with countries, most notably the balance that he must leave, because the world sees Iraq as an important country and it must take its part,” he said.
He pointed out: “The biggest challenge for the Sudanese government is to implement a government program that meets the aspirations of the Sadrist street and with more than half of its demands. Otherwise, the Sudanese will be angry in front of the Sadrist Street.”
Al-Shammari continued: “The Sudanese must also deal with the emerging parties and the Octoberists and their demands in a different form and vision from the previous one.” LINK
MilitiaMan » October 24th, 2022
Like I said.. The street wants their constitutional entitlements… They are not even quiet about it. There is talk of politicians in the Green Zone being extricated out if there is not sufficient reforms.. Extradition out of the Green Zone, is likely not something anyone would want. Might be deserved though.. ~ imo ~ MM
Samson » October 24th, 2022
Iraqi Telecom inaugurates the “International Access Gates” project and announces the achievement of a “qualitative leap” and the recovery of hundreds of billions
24th October, 2022
The Iraqi Ministry of Communications opened on Monday the “international access gates” project, which it described as “strategic and important”, declaring at the same time achieving a “qualitative leap” in the communications sector and recovering hundreds of billions of dinars.
The Minister of Communications, Arkan Al-Shaibani, said in a press conference attended by Shafak News Agency correspondent, on the sidelines of the opening of the project, that “the opening of today’s project is strategic and important for the communications sector in Iraq,” noting that “the project was supposed to be implemented since 2007.”
He continued, “We have contracted with major international companies that have established these systems in all border areas,” pointing out that “six stations have been seized in one of the border areas and an end to smuggling operations.”
Al-Shaibani explained that “the project will prevent smuggling and will achieve additional sums for the telecommunications sector, as we have achieved a development in the speed of the Internet and jumped in the global ranking to 42nd after we were in 138th, meaning that we advanced 96 ranks, which is a qualitative leap in the telecommunications sector, and we also achieved great revenues and restored 134 one billion dinars to the Ministry of Finance, 10 billion to Dhi Qar Governorate, and 5 billion to Najaf.
And the Minister of Communications continued, “The access gates fight smuggling, reduce piracy and control the apparent chaos in social networking sites, pages and fake sites, as well as achieve greater benefit in ensuring large financial imports, and within one year we were able to pay 134 billion to the state’s general budget.”
He pointed out that “the speed of the Internet varies between companies, reaching 150_100 megabytes, and this is what made Iraq’s ranking 42 globally in stages, and after operating the “Viber to Home” and entering the implementation phase and within 6 months to a year, I expect that Iraq’s classification will be among the first 20 countries globally.”
For his part, Director of Al-Awsat Telecom, Mazen Ali Hassouni, said during the opening conference, “The project of international access gates to the Internet contribute to building the nation. It is not hidden from everyone that the telecommunications sector is important and more vital and represents the artery of other sectors, and that the percentage of profits in the telecommunications sector is constantly increasing.”
He explained that “the Internet sector in Iraq is an integrated and modern project to control capacities through telecommunications infrastructure, from international providers to local providers.” He pointed out that “the Internet portals project covers all Iraqi governorates and with major sites for operation and capacity limits, it is based on controlling Internet capacities and limiting any illegal operation while providing high Internet capacities.” LINK
MilitiaMan » October 24th, 2022
Expectations are looking very promising… Imagine the revenues when all is up an running at full speed.. Amazing it will be and is starting out now.. imo ~ MM
Samson » October 24th, 2022
Deputy: An upcoming parliamentary hosting of the Governor of the Central Bank and the Minister of Finance regarding the reduction of the exchange rate
24th October, 2022
The representative of the Sadiqoon bloc, Suhaila Al-Sultani, announced today, Monday, the hosting of the Governor of the Central Bank and the Minister of Finance in order to reduce the exchange rate of the dollar against the Iraqi dinar.
Al-Sultani said, according to the media of her bloc, that “the signatures of more than 50 deputies were collected to host the governor of the Central Bank and the Minister of Finance in the new government in order to put pressure on reducing the exchange rate, even if it was in stages or gradually.”
She added, “The exchange rate must be reduced because of the difficult standard of living that the Iraqi people are experiencing now and the high rate of poverty,” stressing that “the representatives who signed the exchange rate cut will present a successful financial policy on which global policies are based.”
And she added, “All deputies and political blocs are determined to reduce the exchange rate, and the number of deputies who signed will increase in the coming days.”
A number of deputies had announced, earlier today, the collection of parliamentary signatures from all political blocs in order to work to reduce the exchange rate of the dollar. Raising the price of the dollar in a year.
MilitiaMan » October 24th, 2022
They CBI Governor and the Finance Minister hosted a meeting on the exchange rate change. The call to get 50 signatures for reduce the exchange rate back to an official rate have been collected. The exchange rate change is on the table within days apparently.. It is the Governments job to issue currency and it is the CBIs job to issue an exchange rate with the approval of the Finance Ministry…. The amount of data out today on this matter is awesome.. imo ~ I like it.. ~ MM
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Article 110
The federal government shall have exclusive authorities in the following matters:
First. Formulating foreign policy and diplomatic representation; negotiating, signing, and ratifying international treaties and agreements; negotiating, signing, and ratifying debt policies and formulating foreign sovereign economic and trade policy.
Second. Formulating and executing national security policy, including establishing and managing armed forces to secure the protection and guarantee the security of Iraq’s borders and to defend Iraq.
Third. Formulating fiscal and customs policy; issuing currency; regulating commercial policy across regional and governorate boundaries in Iraq; drawing up the national budget of the State; formulating monetary policy; and establishing and administering a central bank.
Fourth. Regulating standards, weights, and measures.
https://www.constituteproject.org/constitution/Iraq_2005.pdf?lang=en
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In addition… Look at the amounts of assets Iraq has. Not to mention the new electronic system in place is returning 100s of billions of dinars… All of this supports massive value for the exchange rate change success.. imo ~ MM
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Is Iraq exploiting the wealth of minerals instead of oil? LINK
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Iraqi Telecom inaugurates the “International Access Gates” project and announces the achievement of a “qualitative leap” and the recovery of hundreds of billions LINK
Samson » October 24th, 2022
Will the price of the dinar change against the dollar?
24th October, 2022
Today, with the political changes, the theory of restoring the exchange rate of the dinar against the dollar has come to mind, and is there a possibility of restoring the exchange rate.
“Despite the fact that the issue of raising the price of the dinar against the dollar is a popular demand as a result of its connection to high rates of inflation, although the price change was not the only factor in increasing inflation, now the public will put strong pressure on the political parties that have long called for the necessity of raising the price of the dinar against the dollar and returning to the price the old.“
MilitiaMan » October 24th, 2022
See what I mean. We can all see that returning to the old price is the same as the past official exchange rate. They printed new money in 2018, they imo have distributed new money to where it will be needed internally and externally and the last part of the reforms is to seat the government cabinet so that there is legitimacy to the new government whereby, they can “issue” the new money on the books imo.. There is a difference between distribution and issuance. The latter part is where the exchange rate gets applied. imo. ~ MM
Source: Dinar Recaps
Samson » October 24th, 2022
The Lebanese Central Bank stops buying dollars through its own platform
23rd October, 2022
The Central Bank of Lebanon announced, on Sunday, that it will stop buying dollars through its own platform (exchange) from Tuesday, until further notice.
A statement issued by the Governor of the Banque du Liban, Riad Salameh, and published by the National News Agency, added that he will continue to pay public sector pensions in US dollars, noting that “withdrawals of the 400 dollars will continue to holders of bank accounts.”
Salameh’s decision, after the Lebanese pound hit its lowest level against the dollar in the parallel market, comes at a time when the political crisis in the country is deepening, which prevents reaching any reforms capable of extricating it from the chronic economic collapse. The dollar is sold in the parallel market for about 40,000 pounds.
Since the fall of 2019, Lebanese banks have imposed strict restrictions on deposit withdrawals, which have increased little by little, until it has become almost impossible for depositors to dispose of their money, especially those deposited in US dollars, or transfer it abroad.
Since the summer of 2019, the lira has lost nearly 95 percent of its value against the dollar, while the official exchange rate is still fixed at 1507 liras. This coincides with a severe liquidity crisis, and banks have stopped providing depositors with their money in dollars. Banks and money transfer companies have different exchange rates.
The prolonged economic crisis is considered the worst in Lebanon’s history. It is accompanied by political paralysis that prevents taking reform steps that limit the deterioration and improve the quality of life of the population, more than eighty percent of whom live below the poverty line. LINK
Rishi Sunak elected leader of the Conservative Party and Prime Minister of Britain
24th October, 2022
Rishi Sunak won the leadership of the British Conservative Party, today, Monday, to be the Prime Minister of Britain as the party’s candidate to succeed Liz Terrace.
Sunak’s victory came after both Benny Mordaunt and former Prime Minister Boris Johnson withdrew from the competition.
Mordaunt was unable to get the support of enough party members in parliament, while Sunak was able to get the support of more than half of the party’s 357 members, according to the BBC.
Sunak served as Finance Minister in the government of Boris Johnson from February 2020 to July 2022.
In Karbala.. they sell a bank building and the amount disappears.. and the manager rents a building for him for 80 million annually
24th October, 2022
Sources, 10-24-2022, who are familiar with the agendas of the local government in Karbala, revealed the sale of a bank building in Karbala, so that the bank settled in a rented office.
Message text.
Influential parties sold a bank building in Karbala, while the amount of the deal (7 billion dinars) is not known where his fate is.
In a clear fraud, a new building for the bank was not purchased, and instead a building was rented at a cost of 80 million annually, without the expenses of its rehabilitation and the purposes of the bank. This is a disaster.
Where is the integrity and public prosecution of this obvious theft? LINK
Because of the weather and the Ukraine crisis, the price of a barrel of oil is expected to reach $120
24th October, 2022
The economic expert and specialist in the field of energy, Bilal Al-Khalifa, said that wars and political crises, especially the Russian-Ukrainian war, and the events that accompanied that crisis portend further military escalation, representing a main factor for the rise in oil prices during the coming periods, indicating that targeting the gas pipeline “Al-Noord” Stream” represents another main factor for the occurrence of spikes in oil prices, especially with the entry of the “old continent” into the winter season and its growing needs for fuel
Al-Khalifa explained, “OPEC Plus production is usually very influential in the price of a barrel of oil, and we have seen during the days of the Corona pandemic crisis how it dealt with the significant drop in the price of oil by reducing production that revived the oil market,” noting that “the recent OPEC + decision It represents a clear indication of another rise in oil prices during the winter periods,” according to the official “Al-Sabah” newspaper
Al-Khalifa suggested, “The current selling prices of oil will be increased by about five dollars, and therefore the price will range between 90-100 dollars, but in the event of storms and hurricanes in the places where oil production areas are located, it may rise by two dollars or more for limited days,” expecting that “a rise in the pace of the war between the Russians and NATO will lead to the price of a barrel of oil reaching more than $120 in the coming periods LINK
Is Iraq exploiting the wealth of minerals instead of oil?
23rd October, 2022
Iraq possesses many mineral wealth other than oil, but due to the political and security situation, the Iraqi governments have not succeeded in investing these wealth and relying on oil, which constitutes the main source of the budget of more than 95%.
The information indicates that Iraq occupies the first reserve in the world of sulfur and the second reserve after Morocco of phosphate.
According to previous geological reports and surveys, Iraq has very important mineral wealth, concentrated in several areas and with very large reserve stocks, according to Al Jazeera Net.
Phosphate is found in large quantities in the western regions of the country and mainly in Anbar Governorate. It is also found in Nineveh, Wasit, Najaf and Muthanna, and the volume of reserves is estimated at 10 billion tons.
The Rawabet Center for Research and Strategic Studies says that Iraq is a country rich in its diverse mineral wealth, which is spread in many governorates, noting that Anbar Governorate is the richest in the field of mineral wealth.
According to the Iraqi General Phosphate Company, recent surveys revealed the availability of huge and confirmed reserves of phosphate amounting to two billion tons, confirmed and untapped, with unconfirmed quantities that may exceed 7 billion tons.
As for iron, its presence is particularly concentrated in Anbar, where the underground reserve is estimated at 60 million tons. Anbar also enjoys a large reserve of uranium in the Akashat region within the formations of the phosphate layers in the Western Desert.
And the mineral wealth in Anbar does not stop there, as silica is concentrated in the Western Desert region, and appears in the form of layers of white sand, where the reserve is about 75 million tons. As for the yellow-gold mineral, it is found in Anbar and Nineveh, while huge amounts of sulfur are concentrated in Anbar, Salah al-Din and Nineveh, and reserves are estimated at more than 600 million tons.
Going to sodium sulfur, it spreads in Salah al-Din Governorate, and the general reserve of it is estimated at 22 million tons. As for quartzite, it is spread in the Al-Rutba region in Anbar, and its reserves are estimated at 16 million tons.
While celestite (strontium sulfur) is widespread in Najaf and Karbala, where it appears in the form of sandy rock lenses, the country’s reserves are estimated at about 0.8 million tons of untapped.
As for glass, its presence is concentrated in Anbar Governorate in the form of shiny surface sand in the plains and plateaus, and the quantities of it are estimated at about 400 million cubic meters, while lead is found in the governorates of Dohuk and Sulaymaniyah in the Kurdistan Region in the form of sedimented carbon rocks, and the volume of the reserve is estimated at more than 50 million tons.
Statistics indicate the presence of dolomite in Anbar and Muthanna, where the country’s reserves are estimated at 330 million tons.
As for gypsum, it is concentrated in Nineveh, Kirkuk and Salah al-Din, and its reserves are estimated at 130 million tons. As for lime, it is found in Anbar, Muthanna, Najaf, Nineveh and Kurdistan, and its reserves are estimated at about 8 thousand million tons, while silver is found in the areas of Iraqi Kurdistan within volcanic rocks.
Bauxite is concentrated in Anbar, the reserve of which is estimated at about one million tons, while the feldspar sands are concentrated in Najaf Governorate, the reserve of which is estimated at about 2.3 million tons.
Quartz is concentrated in Anbar and the city of Faw located on the waters of the Arabian Gulf in Basra, where reserves are estimated at 855 million cubic metres. Copper is found in Sulaymaniyah Governorate, and estimates of its volume vary between 10 and 20 million tons. LINK
Source: Dinar Recaps
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