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“Timing is Perfect” – Thurs. PM KTFA Thoughts, News w/ MilitiaMan 11-10-22

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KTFA

MilitiaMan » November 10th, 2022

The agreements they have apparently nothing new. (See article below) The part about the delegation from the Democratic Part to Bahgdad to see the the mechanism for implementing the government program and full filling promises has my attention.

The citizens have been promised purchasing power. Not to mention infrastructure build out, etc.. Well that take a mechanism to do so.

The Kurds are interested in the investment side of the 2022 budget, as is the Oil and Gas Law.  I am not sure of what day they are to arrive, however, there is little time left to the estimated time frame they told us about getting the 2022 budget data for the purpose of the 2023 Budget Draft to Parliament and Council of Ministers..

They told us within two weeks from 11/05/2022.. Not on, but, on or before.. imo ~ MM

A leader reveals the agenda of the Kurdish political delegation that will visit Baghdad

11/09/2022 19:47:27

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The leader of the Kurdistan Democratic Party, Wafa Muhammad Karim, revealed Wednesday, the agenda of the Kurdish political delegation that will visit Baghdad.

Karim told Al-Furat News that: “There is a visit by a political delegation from the Democratic Party to Baghdad to see the mechanism for implementing the government program and fulfilling the promises made by Prime Minister Muhammad Shaaa Al-Sudani.”

He referred to “promises that include political agreements, resolving disputes for the disputed areas, and resolving the oil and gas law file.”

Karim added, “The political delegation will discuss a number of issues and points that were agreed upon before.”  LINK

The CBI opening a bank internationally with confidence is obviously a mile stone for the bank. An international move that is likely a sign of things to come.. Timing is perfect. imo ~ MM

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The Governor of the Central Bank of Iraq inaugurates a branch of the International Development Bank in Dubai

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10th November, 2022

His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Mokhif, inaugurated today, Wednesday, the branch of the International Development Bank in the United Arab Emirates / Dubai.

His Excellency said: We feel happy and proud when we see one of our banks occupy a position within the UAE banking sector after obtaining the confidence of the Central Bank of the United Arab Emirates, which is an important event on which we build our hopes for the participation of our banks with this vibrant sector in the sisterly country.

His Excellency wished the bank, its management and employees continued progress and payment.

Central Bank of Iraq Media Office
9/11/2022   LINK

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The Governor of the Central Bank inaugurates the branch of the International Development Bank in Dubai

9th November, 2022

Wednesday, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhif, inaugurated the branch of the International Development Bank in the United Arab Emirates/Dubai

We feel happy and proud when we see one of our banks occupying a position within the UAE banking sector after obtaining the confidence of the Central Bank of the UAE,” Makheif said in a statement on the sidelines of the        opening             

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He considered that “the event is important, on which we build hopes that our banks will participate with this vibrant sector in the sister country

He wished the bank, its management and employees continued progress and payment  LINK

Central Bank Governor: The current dollar price will be established for years and there is no intention to change it in any way

10/11/2022 11:02:17

The Governor of the Central Bank of Iraq, Mustafa Ghaleb, announced that the current dollar exchange rate in the country will “be established for years to come.”

“We do not intend in any way to prejudice the current exchange rate of the US dollar against the Iraqi dinar,” Makheif said in a press statement. He added that “the current price will be fixed for many more years to come.

Prime Minister Muhammad Shiaa al-Sudani said in a press conference on the first of this month that: “The decision to change the exchange rate in the past was not accompanied by protection measures for poor, medium and low-income orders, and this exacerbated the problem and its negative repercussions on citizens.”

But he stressed that “this government is committed to implementing laws, as well as to the law of the Central Bank, which authorizes this institution to formulate monetary policy, and the decisions and policies that the Central Bank deems necessary. We will maintain and support the independence of the Bank, as it is the only party concerned with the issue of the exchange rate.”  LINK

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“The exchange rate is proven for years” .. Central Bank Governor: politicians’ statements will not affect our decisions

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10th November, 2022

Today, Thursday, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, confirmed that the current price of the dollar will be established for other years to come, and politicians’ statements will not affect the bank’s decisions

In a statement on the sidelines of his participation in the IBBC Conference for the Development of Economic and Trade Relations and Investments, held in Dubai, Makheif denied that “the bank has an intention to change the current exchange rate of the dollar against the Iraqi dinar

He stressed that “the current price of the dollar will be established for other years to come,” noting that “the statements of government officials, politicians and representatives will not affect the decisions of the Central Bank of Iraq in this regard LINK

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It is in my view that the CB has already made the appropriate calculations to the 2022 budget in the recent past, therefore, the rate has been adjusted and not the same, but different, and it has not been announced just yet.

I recall a comment (paraphrased) by PM Kahdimi when in the dome during a sit in telling the citizens there was a rate change and it is coming.. It had a calming effect.

There are articles (snippets below) that support that this is the case. So, the CBI cleverly tells us they are to fix the exchange rate and it will be fixed for years, while suggesting they do not intend in anyway to prejudice the current exchange rate of the US Dollar (bring harm) against the Iraqi Dinar.

Well that may still hold true in whereas they have appear to have adjusted the exchange rate already within the 2022 investment side of the budget that is yet to be exposed.

Hence, the Kurds are bringing a delegation to see the mechanism that will facilitate the Oil and Gas Law among other government agreements.

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So in essence the CBI is telling us in my view that they have already changed the exchange rate and then they are going to fix the exchange rate and it will be fixed for years to come.

We need them to do it and tell us. I look for the exposure of the 2022 / EFSL after the Kurds meet here shortly and prior to the delivery of the reconciled 2022 budget that is expected to be given to the Parliament and COM on or prior to 11/19/2022 per article # 67. 11/05/2022.

All of this is in ink and supported.. jimo.. ~ MM

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“”The Ministry of Planning informed the Ministry of Finance that it will start preparing the budget for the next year,” noting that “the 2022 budget that was prepared previously will be changed and amendments will be made to it for many considerations, including changing the situation and the government,””

, “We are currently working in detail, as we communicate with the Ministry of Finance on the details that pertain to the common sides, whether as investment budget items or as loans,” noting that “the budget ceilings have not been determined so far.””

“Parliamentary Finance sets the date for the arrival of the budget and its details 5th November, 2022 A member of the Parliamentary Finance Committee, Jamal Kougar, suggested, on Saturday, that the draft budget law will arrive within the next two weeks, indicating that the draft will be different from the laws presented for several reasons.

 In a statement to Al-Maalouma, Cougar said, “The draft budget is ready and needs additional details to be in harmony with the current government’s program and plans.”

 He added, “The project is in two parts, including operational, and it is known, and the numbers cannot be tampered with too much, as they pertain to the salaries and allocations of employees and the investment section. Projects, services and job grades can be added according to the government’s need.”

Cougar pointed out that “the budget will be different due to the presence of the Minister of Finance, Taif Sami, who is the most experienced in managing and implementing the budget at the head of the ministry, as well as Muhammad Shia’a Al-Sudani’s ambition to establish service projects.”” Post #67 11/05/2022

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Source: Dinar Recaps

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