[size=30]Frank26 and KTFA Members "News and Views" Sunday 6-13-2021[/size]
KTFA:Samson: A group of unions and federations announces the launch of a national campaign to support the Iraqi dinar
13th June, 2021
A group of unions and federations announced the launch of a national campaign to support the national currency and the economy and increase the citizen's confidence in the dinar.
This group said in a joint press statement that "Al-Iqtisad News" received a copy, "A group of unions and federations announces the launch of a national campaign under the auspices of the Central Bank of Iraq to raise awareness to support the national currency and the Iraqi economy, and this campaign includes the Federation of Chambers of Commerce, the Association of Iraqi Private Banks, the Physicians Syndicate and the Iraqi Syndicate Pharmacists, the Engineers Syndicate, and the Dentists Syndicate, who represent a large segment of Iraqi society.
The statement added, "This campaign aims to shed light on the importance of dealing with the national currency and increasing the citizen's confidence in it, for the contribution of all sectors to maintaining the exchange rate and maintaining inflation at low rates, and reducing the rates of poverty and unemployment through the entry of Iraqi and foreign investors to work inside the country, which It will lead to an increase in services provided to citizens, and this will have a positive impact on the economy.”
He pointed out that "this campaign also includes a focus on the fact that the owners of retail and services stores do not force citizens to sell their goods in dollars, but rather in the national currency "the Iraqi dinar", as shop owners get the dollars from the authorized currency sale at the official price, and they force the citizens to buy dollars. From the parallel market leads to an increase in its price, which affects the entire joints of the economy.”
The statement stressed, "This campaign will include joint activities aimed at supporting the Central Bank's ongoing efforts in this regard through holding educational meetings and seminars." The statement concluded, that the signatories to this national campaign areare Wadih Al-Handal, the head of the Association of Private Banks, the Syndicate of Pharmacists, Dr. Mustafa Al-Hiti, the President of the Federation of Chambers of Commerce, Abdul Razzaq Al-Zuhairi, the Doctors Syndicate Jassem Al-Azzawi, the Syndicate of Engineers, Azhar Hussein Saleh, and the Syndicate of Dentists, Dr. Abu Bakr Ziyad Al-Rawi. LINK
Clare: WOW!!!!!!!!!!...... THANKS SAMSON! WHO TOLD US A "MASSIVE CAMPAIGN" WOULD BEGIN FOR THE CITIZENS..... YEP!! WALKINGSTICK & FRANK DID!!!!!!!!!!!! WHAT ELSE DID THEY TELL US?- THEY HAVE A DATE!!! IT IS ALMOST HERE. imo
Jerry1971: WELL SAID CLARE THANKS TO SIR FRANK AND SIR WALKINGSTICK WHAT THEY SHARED WITH US IS SURELY BEING REVEALED THROUGH THE ARTICLES JUST HOPE THEY THE CBI SHOWS THE NEW EXCHANGE RATE SOONER THAN LATER IMO.
**********
FROM FRANK..........TOMORROW M CC WILL BE NUCLEAR!!!!!!!!!!!!!!!! ...........
KTFA KONA: GET READY ......... there was a reason why I canceled our YouTube for Friday night because in my opinion the CBI is now doing the campaign exactly as we told you it would come out therefore, in my opinion the rate is either with this campaign or follows just shortly after... as everything and everyone waits for the CBI governor to announce a new exchange rate for a new small category note,
Introducing a reinstatement of their currency... the RI .... Walkingstick and I are loaded for bear...SMILE...
Make sure you praise God today and thank you for what you are about to become...
I may have pain in my body but soon family you will have gain in your hands...END....FRANK26
SAMSON POST : A group of unions and federations announces the launch of a national campaign to support the Iraqi dinar ...
A group of unions and federations announced the launch of a national campaign to support the national currency and the economy and increase the citizen's confidence in the dinar..... The statement stressed, "This campaign will include joint activities aimed at supporting the Central Bank's ongoing efforts in this regard through holding educational meetings and seminars."
**********
Don961: The fair exchange rate .. Who determines it?
Sunday 13 June 2021Baghdad: morning
During the past few days, the economic circles have traded the term fair exchange rate of the Iraqi dinar against the dollar, which was refuted by specialists, and stressed that there is no room to talk about a fair exchange rate at this time and the situation in the country and the approved economic work mechanisms.
Academic economist Dr. Qusay Al-Jabri stated that “a fair price is not an opinion that this person or that person puts forward, and when we talk about an appropriate exchange rate, there should be special models for estimating this price, and there are strong arguments to defend a specific exchange rate, and these arguments are behind it. Important economic goals, so they are not opinions.
Trade balance
He added, "No monetary policy can succeed without corresponding policies in the real sector (the production sector) so that it is possible to correct the conditions of the trade balance and the balance of payments, but changing the exchange rate and trying to reduce it is an incorrect policy whose inevitable result is the impoverishment of people and the strengthening of inequality in the distribution of income.”
He pointed out that «strengthening economic stability in Iraq is not possible through monetary policy only or financial policy only, but rather comes from a system of effective and harmonious economic policies to achieve a set of goals, foremost of which stands in strengthening stability and giving a greater role for the private sector to absorb the momentum of unemployment and improve the balance of payments conditions. ».
Currency value
Financial affairs specialist Ahmed Hathal explained that “some research determines the value of the currency on the basis of purchasing power in some countries or in the United States, and this is also inaccurate due to the different structure and structure of the production sector, as well as the quality of the commodity measured by it, even if we assume that the same factory produces in The United States and Iraq will have differences as a result of the difference in per capita income.”
Oil revenue
In turn, the economist, Samir Fikri, said: “Who can determine the fair value of the exchange, and our sources of income are determined by external demand and linked to international oil prices, so there is no so-called fair value, as it is a value that fluctuates with the fluctuation of oil revenues, and it will continue to do so as long as the growth of government spending depends on the sector.” Oil and non-oil GDP growth exceeds the so-called fair value. link
************
Don961: Will Iraq succeed in overcoming its crises?
Sunday 13 June 2021 Yasser Al-Metwally
We do not bring anything new if we say that the entire global economy was affected by the financial crises and the pandemic, even in varying proportions, according to the capabilities of countries and their economies’ endurance to the shock of crises.
Reports and news indicate that a tangible recovery has occurred in the global economy as a result of the end of the causes of the financial crisis through the recovery of oil prices globally and the return of the recovery of trade and the global market accordingly.
As for the second reason, it is due to the decline of the Corona pandemic “Covid-19” after the discovery of relatively effective vaccines, so countries are rushing to take advantage of the opportunity to improve and recover in order to revitalize their economies.
The question here is, what is Iraq's share of these somewhat joyful results?
International reports and studies indicate that Iraq ranks "10" among the richest countries in the world in terms of natural resources.
Iraq possesses stockpiles of its natural wealth represented by oil, gas, coal, gold, copper, uranium, iron, phosphates and sulfur.
All of this is in addition to the revenues from border crossings, communications, aviation and transportation, but you find the Iraqi economy is still stagnant and if we do not say it is declining, what is the solution?
Therefore, it seems clear that Iraq's revenues are scattered and need two main factors in order to revive the Iraqi economy .
First, we need to invest the neglected natural resources throughout this period since the stage of change until now. Of course, the need necessitates approving the amendments to the investment law and working to attract specialized international companies and establish partnerships with them in order to find financial leverages capable of overcoming the financial deficit that caused the economy to stagnate.
Moreover, the need requires, secondly, to correct the course of the country’s fiscal policy through the proper management of public money, and this requires the speedy introduction of modern technology in obtaining state revenues through mechanization and electronic methods of obtaining governmental resources .
In addition, it is necessary to employ the rising oil price differences in order to activate the income-generating productive sectors.
At that time, whoever manages the economic file will be able to achieve the country's economic recovery.
Assuming stable trends in dealing with waste of public money and combating corruption, which has been talked about a lot.
We hope well for the recovery of the Iraqi economy in the near future, so that it can address unemployment, reduce the poverty line and the rest of the challenges that plague the country's economy, and to turn the page on the contradiction between the global perspective on Iraq's potential and the reality of the situation. LINK
Adviser to the Prime Minister reveals the details of the first economic reform program in Iraq and its launch date LINK
Sheila: This article very informative along with the other articles that keep saying words like launch, international, exchange rate etc etc....
************
Samson: Deputy: Preparing a supplementary budget is just talk, and the financial surplus will fill the deficit
14:12 - 13/06/2021
Representative of the Saeroon Alliance, Riyadh Al-Masoudi, confirmed, on Sunday, that talking about preparing a supplementary budget is just talk and there is no intention on the horizon by the government to prepare a supplementary budget for the current year, noting that the surplus funds resulting from the rise in oil prices will be used to fill the budget deficit for the current year.
Al-Masoudi said in a statement to Al-Information, that "the government has obtained large funds since October of last year until today as a result of the rise in oil prices, compared to calculating the price of a barrel of oil that was approved in Mwana in 2021."
He added that "there are parliamentary calls to prepare a supplementary budget, but in fact the government has no intention at the present time to prepare this budget and to talk about it is just talk," stressing that "the additional amounts will be used to bridge the deficit in the current year's budget."
It is noteworthy that there are several proposals on how to invest the surplus funds that will be achieved as a result of the price difference from the rise in global oil prices, especially since the budget relied on an amount of 42 dollars per barrel, in light of the plans of the competent ministries on how to invest those funds, which amount to nearly 40 trillion dinars, and will lead To reduce the fiscal deficit of more than 70 trillion. LINK
Samson: Investors are betting that oil will return to $100 a barrel
8th June, 2021
Commodity exchanges are witnessing an increasing demand for oil future contracts using the “options” method, which are purchased on the basis that oil prices exceed $100 per barrel by the end of this year or by the end of next year 2022. This seems to indicate that the markets expect the continued rise in oil prices to exceed their rates before they fell In the summer of 2014. Indeed, crude prices have increased this year so far by nearly 40 percent.
The Wall Street Journal published a report on "options" contracts that set the price of oil at $100 a barrel in December 2022, or even in December this year 2021. It says that what drives speculators to these expectations is the continued rise in the price of a barrel.
The price of US light crude (West Texas Blend) reached $70 a barrel, and the price of a gallon of gasoline in the United States reached $3.
It seems that speculators in "options" contracts do not care about the possibilities of market turmoil, and are betting on increasing demand for oil as the global economic recovery process continues from the crisis of the Corona virus epidemic. Although the oil market often corrects itself by supply and demand factors, the markets are encouraged by the possibility of higher prices, despite the high prices, as is currently happening, causing producers to increase their production, which raises supply against demand, which puts pressure on prices downward. There is also the possibility of Iranian oil returning to export markets if the Vienna negotiations between Iran and the United States succeed in bringing Washington back to the nuclear agreement signed in 2015, and America withdrew from it in 2018.
What is the "Options" transaction?
Options contracts are one of the trading tools on the stock exchanges, and it is a high-risk and high-profit method. It is considered an investment derivative in the capital markets, as it is based on the value of the asset being traded, whether it is shares or physical commodities. A trader buys an options contract on a stock or commodity, giving him the option to buy or sell at a specific price at a specific time. In this case, he may sell or buy before the specified date if the price of the share or commodity reaches what is specified in the contract before its due date.
In this case, the profits are double, not like buying and selling in normal trading. The dealer can specify the option to buy or sell, and the execution of the contract on time is governed by its type, i.e. sale or purchase, and the loss will be great if the price of the stock or commodity does not reach the price on which the customer bought the contract on the basis of at the date of the contract. Some describe "options" contracts as being like lotteries because of the speculative nature and betting in them, but some investors use this investment derivative, to achieve permanent income from huge profits whenever their expectations are correct.
Optimistic forecast
Figures from the Quick Strike Company, which provides options trading data, indicate that oil contracts at a price of $ 100 a barrel are the most traded on the New York Mercantile Exchange, and it is currently the most traded among the West Texas Blend futures contracts. There are about 60,000 oil futures contracts already in place, covering up to 60 million barrels for December 2022 delivery.
Not only that, but some are speculating that the price of crude will reach a dollar a barrel this year. Options contracts are already in place covering up to 16 million barrels of West Texas blend for December 2021 delivery.
As for the Brent crude market in London, “options” contracts, which set the price of $ 100 a barrel for December 2021 delivery, already cover more than 32 million barrels. Although some speculators are not sure that oil prices will reach what they specified in the options contracts, they expect the price of “options” contracts to rise with the continued rise in crude prices, even if they do not reach $100 on the date of the contracts. LINK
Today at 6:27 pm by Rocky
» In just two weeks, the Sudanese is awaiting an action plan from the relevant ministries in agreement
Today at 3:35 pm by Rocky
» A thousand dinars every month.. An expert predicts the shape of the final journey of dollar prices
Today at 3:32 pm by Rocky
» Parliamentary Oil: The budget deficit is under control
Today at 3:28 pm by Rocky
» Parliamentary proposals to impose an economic blockade on Iraq
Today at 3:18 pm by Rocky
» His advisor: Al-Sudani succeeded in digital transfer in banks
Today at 3:12 pm by Rocky
» Economist reassures: Financial liquidity is available and there are no risks to the Iraqi dinar
Today at 3:10 pm by Rocky
» Iraq is preparing to bid farewell to the blonde old woman and end the UNAMI mission
Today at 2:46 pm by Bama Diva
» utube MM&C 4/30/24 Projects - Confidence Building - National Bank of Iraq
Today at 7:24 am by Rocky
» Al-Sudani: The government is serious about moving to a diversified economy and supporting the indust
Today at 7:18 am by Rocky
» Deputy: The dollar exchange rate is still high
Today at 7:12 am by Rocky
» The Finance Committee reveals the total transfers today in Iraq
Today at 7:08 am by Rocky
» Minister of Industry: Iraq does not have iron ores suitable for production and we depend on imports
Today at 7:06 am by Rocky
» “The Dilemma of Economic Decisions”... Implementing a gasoline price increase despite opposition fro
Today at 7:03 am by Rocky
» Ukrainian trade explodes with a “surprise”: Iraq has contracted with a “fake” Ukrainian company to d
Today at 6:55 am by Rocky
» Iraq is preparing to invest in the largest gas field
Today at 6:49 am by Rocky
» An economic expert for Nina: The World Bank’s expectations that Iraq will achieve a high growth rate
Today at 6:43 am by Rocky
» The UAE buys cheaper Iraqi oil to increase its exports of “more expensive crude”
Today at 6:40 am by Rocky
» The largest gas field in Iraq is close to seeing the light: a wealth that will reduce the import bil
Today at 6:39 am by Rocky
» Minister of Resources: Water storage in dams is at its best
Today at 6:37 am by Rocky
» Sadiqoun demands that Taqadum give up all positions in exchange for the presidency of Parliament
Today at 6:33 am by Rocky
» Al-Sudani inaugurates the continuous casting factory at the General Company for Steel Industries in
Today at 5:28 am by Rocky
» Iraq exports to America more than 4 million barrels of crude oil and its derivatives in a month
Today at 5:26 am by Rocky
» Al-Sudani: We are committed to workers’ rights and reconstruction projects will not stop
Today at 5:21 am by Rocky
» The Parliamentary Development Institute organizes a workshop on the right to information law
Today at 5:15 am by Rocky
» Parliamentary Integrity: The judiciary is making a great effort to resolve the theft of the century
Today at 5:11 am by Rocky
» Parliamentary Finance: The government holds responsible for the delay in sending the budget schedule
Today at 5:07 am by Rocky
» Economist: Iraq faces a shortage of 3.5 million housing units
Today at 5:06 am by Rocky
» Obelisk Hour: Sudanese’s visit to Washington did not address the “American exit”
Today at 5:04 am by Rocky
» Planning clarifies the position on contracts and wages from the job number platform
Today at 5:01 am by Rocky
» New country legalizes cryptocurrencies
Today at 4:57 am by Rocky
» The UAE's Dana Gas announces the resumption of work in the "Kormor" field
Today at 4:55 am by Rocky
» The International Comprehensive Shopping Festival kicks off in an Iraqi governorate
Today at 4:54 am by Rocky
» The Minister of Labor gives good news to the workers: Wait for next week
Today at 4:52 am by Rocky
» Iraq's water storage is at its best... Will it address the agricultural situation?
Today at 4:51 am by Rocky
» The government takes a number of new decisions
Today at 4:49 am by Rocky
» The Minister of Labor announces an increase in the salary of retired workers by 100 thousand dinars
Today at 4:46 am by Rocky
» Al-Sudani: Service projects in Iraq “will not stop”
Today at 4:44 am by Rocky
» 90 percent of it comes from across the border. Parliament unveils a new strategy to limit currency s
Today at 4:39 am by Rocky
» Iraq is implementing a "modern strategy" to get rid of a "Sumerian custom" that depleted the waters
Today at 4:37 am by Rocky
» The Minister of Transport announces the opening of 48 collective lines in six governorates
Today at 4:35 am by Rocky
» The Federal Integrity Commission announced the arrest of waste of public money, violations and manip
Today at 4:34 am by Rocky
» Government Media: 3 million citizens have registered so far on the Ur electronic portal
Today at 4:33 am by Rocky
» Labor Day in Iraq.. 6 million workers with an unknown future and stolen rights, and 90% of them “wit
Today at 4:31 am by Rocky
» Iranian Chamber of Commerce: Iraq's investment budget is 150 billion dollars, and our share in it mu
Today at 4:25 am by Rocky
» On International Workers’ Day... The President of the Republic: We stress the necessity of working t
Today at 4:23 am by Rocky
» Prime Minister: We affirm our commitment to all Iraqi workers, men and women, to provide a work envi
Today at 4:22 am by Rocky
» Progress threatens to withdraw from the political process in the event of infringement on its quota
Today at 4:20 am by Rocky
» Bloomberg: Iraq violated its oil export quota and did not adhere to OPEC+ decisions
Yesterday at 6:23 pm by Rocky
» Al-Sudani stresses the importance of following up on the understandings reached between Iraq and Ame
Yesterday at 3:56 pm by Rocky
» From "everything is imported" to "food made by one's own hands"... Parliamentary reference to Iraq's
Yesterday at 3:51 pm by Rocky
» The government hires an external auditor for the Trade Bank of Iraq
Yesterday at 3:45 pm by Rocky
» Among them relates to the path of development...the full decisions of the Council of Ministers sessi
Yesterday at 3:37 pm by Rocky
» Al-Maliki warns of the Washington Embassy's plans to threaten Iraqi society
Yesterday at 11:51 am by wciappetta
» utube MM&C 4/28/24 Iraq Dinar - IQD - Banks - Merge Regionally - Water - Labor -Jobs - Dinar Value
Yesterday at 10:44 am by Rocky
» Iraqi Business: There are no financial fears in Iraq for three years, and fear regarding the path of
Yesterday at 10:34 am by Rocky
» Parliament is discussing with the Finance and Retirement Law amending the Landlords Law
Yesterday at 10:27 am by Rocky
» Customs and taxes... Parliamentary Finance talks about huge sums of money that do not enter the stat
Yesterday at 10:23 am by Rocky
» Parliamentary Oil threatens to sue the Ministry of Oil over raising gasoline prices
Yesterday at 10:21 am by Rocky
» Iraq begins installing radiation screening gates at border crossings
Yesterday at 10:17 am by Rocky
» Hong Kong launches Asia's first Bitcoin and Ether ETFs
Yesterday at 10:11 am by Rocky
» Al-Mandalawi discusses with the delegation of the Jordanian Senate the achievement of economic integ
Yesterday at 10:07 am by Rocky
» Parliament draws attention to the work of security companies in Iraq and identifies the party concer
Yesterday at 9:59 am by Rocky
» How does a Sudanese choose the countries he visits and what are his messages?
Yesterday at 9:54 am by Rocky
» Baghdad alerts Erbil of a “defect” related to agriculture and requests coordination regarding areas
Yesterday at 9:46 am by Rocky
» State real estate... between Parliament's movements and a new door to corruption
Yesterday at 9:38 am by Rocky
» Economist: The Central Bank committed a massacre against private banks at the expense of foreign one
Yesterday at 9:30 am by Rocky
» Without discussing the agenda, the House of Representatives adjourns its session
Yesterday at 9:20 am by Rocky
» Parliament reveals details of the “Law to replace custodial sentences in exchange for financial sums
Yesterday at 7:52 am by Rocky
» The Sudanese and his battle against corruption.. Where is the fault with the government or with the
Yesterday at 7:40 am by Rocky
» Parliamentary Planning: The Federal Service Law will regulate the work of the public service
Yesterday at 7:30 am by Rocky
» A representative calls for amendments to the 2024 budget tables
Yesterday at 7:23 am by Rocky
» Al-Badri: America bears responsibility for restricting the security services and not providing monit
Yesterday at 7:18 am by Rocky
» State of Law: Sudanese’s recent discussions will impose another reality in relations with Washington
Yesterday at 7:15 am by Rocky
» Parliamentary warning about the delay in sending budget schedules
Yesterday at 7:10 am by Rocky
» Deputy: We will not allow the American ambassador to install herself as President of the Republic of
Yesterday at 7:03 am by Rocky
» The government and Parliament are discussing completing the 2024 budget and sending it to a vote
Yesterday at 6:58 am by Rocky
» "Finance" reveals the reason for the delay in disbursing the Kurdistan Region's salaries for the mon
Yesterday at 6:56 am by Rocky
» With "more than" one billion dollars.. Iraq is "fourth" on the list of "largest" importers from Turk
Yesterday at 6:55 am by Rocky
» The Interior Ministry discovers properties and houses that were usurped and seized in “Al-Bataween”
Yesterday at 6:54 am by Rocky
» “No province is devoid of it.” Shafaq News opens the file of a disease that “has no cure” in Iraq
Yesterday at 6:52 am by Rocky
» Parliamentary Finance: The Council of Ministers will vote today on the 2024 budget schedules
Yesterday at 6:51 am by Rocky
» Al-Halbousi party threatens to withdraw from the entire political process because of the “Sunni mino
Yesterday at 6:49 am by Rocky
» For the first time... adopting an “automation” system for transporting goods at the ports of the Kur
Yesterday at 6:48 am by Rocky
» Qatar.. The Iraqi Stock Exchange obtains the shield of the Arab Capital Markets Union
Yesterday at 6:43 am by Rocky
» An Iraqi court activates the electronic legal evidence and division systems
Yesterday at 6:42 am by Rocky
» What are the reasons for the Emirati-Turkish interest in the path of “development”?.. A British repo
Yesterday at 5:33 am by Rocky
» The Council of Ministers votes today on the 2024 budget schedules
Yesterday at 5:32 am by Rocky
» At a cost of 73 billion...exposing cases of fraud and suspicions of corruption in implementing a pro
Yesterday at 5:29 am by Rocky
» Labor announces the release of the salaries of retired insured workers for the month of May with an
Yesterday at 5:26 am by Rocky
» A parliamentary committee discusses a draft government program evaluation report
Yesterday at 5:24 am by Rocky
» Parliamentary Finance: We are keen to mature the amendment to the Landlords Law in preparation for i
Yesterday at 5:20 am by Rocky
» Al-Mandalawi and Al-Sudani discuss political efforts to complete constitutional entitlements and res
Yesterday at 5:17 am by Rocky
» Resources are taking action to conserve water
Yesterday at 5:12 am by Rocky
» Early 2025.. a date for the start of implementation of the “Development Road”
Yesterday at 5:10 am by Rocky
» Budget schedules postpone the House of Representatives' recess
Yesterday at 5:08 am by Rocky
» Next May 12.. is the date for opening bids for the Baghdad and Najaf-Karbala metro projects
Yesterday at 5:07 am by Rocky
» Tourism in the region is expected to grow by 60%.
Yesterday at 5:05 am by Rocky
» Najaf administrators and engineers are demanding appointments and job opportunities
Yesterday at 5:04 am by Rocky