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“Proximity to the RV” – Wed. AM TNT Thoughts/News 10-26-22

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TNT

Tishwash:
Deputy: Al-Kazemi will leave his position on Thursday noon

Independent MP Hussein Arab revealed a political agreement to pass the government of Muhammad Shia Al-Sudani next Thursday and leave the caretaker prime minister, Mustafa Al-Kazemi.

Arabs said in a press interview, “All the names announced by him aim to inflame the street against the Prime Minister-designate, Muhammad Shiaa al-Sudani, in conjunction with his official request to pass his booth next Thursday.”

He added, “Al-Kazemi will leave his position on Thursday afternoon, after a comprehensive political agreement to pass the Sudanese government,” noting that “all ministries have been resolved for specialists in their field of work, as well as their integrity.”

Arab said, “Parliament is required to move towards legislating services and budget laws in order to serve the citizenlink

VinterV:
25 High ranking officials arrested as they sleep for corruption and thief of government money. Also hearing a meeting last night just might have changed everything. TNT Tony #wearethepeople

CharlieOK:
Today, Monday, the representative of the Al-Fateh Alliance, Suhaila Al-Sultani, announced the hosting Governor of the Central Bank and the Minister of Finance in order to reduce the exchange rate of the dollar against the Iraqi dinar.

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When I see a reference to the GOVERNOR of the CBI and the Min of Fin of Iraq in a meeting to discuss the raising of the exchange rate of the dinar, that gets my attention,…. And to be fair, Iraq being Iraq, we get another article saying………… “We ain’t doin’ it”. Perhaps not,

This statement also definitely got my attention: “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.”  The article is talking about reducing the exchange rate of the dollar in Iraq. You have to read Left Handed to understand an Iraq article,

I am believing we are starting to see signs of this ending.

RVAlready:
Charlie, yes, I think we are close, because world financial systems are about to fail. The RV/GCR is now critical.

CharlieOK:
RV: I have known for some time that there are “two sets of books” when it comes to understanding government finance. Also, because of my past experience, I am more than somewhat aware of world wide location of precious or strategic assets. That was a major hurdle for me to even get in this in the first place.

Iraq has its share, but it doesn’t have more of anything than some other countries. It has taken me a long time to accept a stone age country that is at best in fifth, maybe fourth place, in assets that are discussed all the time, to be the lynch pin for anything.  But Iraq is. Why? Because of strategically using ridiculously manipulated currency values that will one day multiply itself because it is true that Iraq has a lot of assets.

RVAlready:
Also, because Iraq has little or no debt, unlike most of the other countries of the world, who are in debt up to their eyeballs.  An ocean of oil, and no debt.

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About 20 news articles today, saying they won’t change the exchange rate. We must be very close to the RV.

Tishwash:
I agree rvalready very interesting what’s going on with the rate and all these articles

RVAlready:
Proximity to the RV is inversely proportional to the number of articles denying it is about to happen….Or, depending how you view proximity, is directly proportional…. Anyhow, we’re getting real close.  I am hoping for an RV next week

Tishwash:
The Securities and Exchange Commission begins training the cadres of the custodian banks

The Securities Commission and the Iraq Stock Exchange started a training program for the owners of Iraqi banks that participated in the custodian of one of the Arab banks. 

The Executive Director of the Iraq Stock Exchange, Taha Ahmed Abdel Salam, said in a statement to the official agency followed by (Al-Oula News): “Theoretical and practical training on the activity of the custodian in the Iraqi Stock Exchange – the Custudian Bank custodian for a number of employees of an Iraqi bank was licensed during the month. The past and for a number of employees of the Securities Commission and the Iraq Stock Exchange (ISX), the training takes place in one of the Arab banks for the period from October 24-26.” 

Abdul Salam added, “It was part of the training program to review the activity of the Dubai Financial Market (DFM) on October 25, which included a meeting between the Executive Director of the Iraq Stock Exchange and the CEO of the Dubai Financial Market Company and a dialogue about the proposed training plans to raise the skills of workers in various activities and plans Another is related to acquiring practical knowledge of recent activities that were associated with the approval of the Securities Commission during the current year.”

The Iraqi citizen complains about the high prices, despite the wealth of the state treasury

The Iraqi citizen complains about the high prices of food commodities despite the availability of liquidity in the state treasury, and according to government data, inflation rates in Iraq increased by 5.3 percent last September compared to what it was during the month of September 2021, According to the latest official statistics.

The high rate of inflation, which coincides with the decrease in purchasing power, despite the financial abundance witnessed by the Iraqi state treasury due to the rise in oil prices, is accompanied by warnings of observers and specialists in economic affairs that the continued rise in inflation may lead to a new wave of protests in the country.

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The official spokesman for the ministry, Abdul-Zahra Al-Hindawi, said that the reason for the rise in inflation came as a result of the rise in the prices of a large part of food.

Economic researcher Hamza Al-Hardan said that Iraq was affected by the global crisis left by the Corona pandemic, supply problems and the increase in prices globally due to the Russian war on Ukraine.

The Iraqi citizen complains about the high prices of food commodities despite the availability of liquidity in the state treasury, and according to government data, inflation rates in Iraq increased by 5.3 percent last September compared to what it was during the month of September 2021, according to the latest official statistics .

The high rate of inflation, which coincides with the decrease in purchasing power, despite the financial abundance witnessed by the Iraqi state treasury due to the rise in oil prices, is accompanied by warnings of observers and specialists in economic affairs that the continued rise in inflation may lead to a new wave of protests in the country.

The official spokesman for the ministry, Abdul-Zahra Al-Hindawi, said that the reason for the rise in inflation came as a result of the rise in the prices of a large part of food.

Al-Hardan said that Iraq was affected by the global crisis caused by the Corona pandemic, supply problems and the increase in prices globally due to the Russian war on Ukraine.

He added that what is in the market are imported products that are directly affected by the value of the local currency against the dollar and the absence of market control and the lack of real work to control prices, stressing the importance of increasing local production, preventing monopoly, and working to increase supply further to contribute to lowering prices.

Member of the Finance Committee in the Iraqi parliament, Ahmed Al-Saffar, believes that the state, after 2003, does not have any economic and financial policy to confront inflation, and that the national economy is fragile and weak due to its primary dependence on oil revenues only.

Al-Saffar indicated that successive governments cannot do anything in the absence of monetary and financial policies, criticizing the role of the Central Bank, whose work is now limited to the currency sale window and other issues that do not achieve a balance between the monetary and financial sides.

Regarding the capabilities of the government charged with headed by Muhammad Shia Al-Sudani, Al-Saffar stressed that this government has a good program, but its provisions were talked about by all former heads of government, but they did not achieve anything from it, because of the partisan and sectarian quotas that exist in the Iraqi state.

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Al-Saffar ruled out that the Sudanese would bring about any change or progress on the economic level due to the existing political interventions, imposing wills and parties’ interventions in the work of the government and the preparation and legislation of the budget, as well as the misdistribution of ministries based on sectarian and partisan basis, which leads to worse economic conditions than the years previous.

And the International Monetary Fund, in its latest report, suggested that the annual general inflation of Iraq would reach more than 4 percent this year, according to the security and political events in the region, in addition to the Corona pandemic and then the Russian war on Ukraine.   link

Source: Dinar Recaps

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