HBHockeyDad: Hi MM. Is there any word on the citizens going into the banks to be shown the nscn by chance? As franky indicated on the Monday night cc? Ty sir
MilitiaMan: My understanding if correct, it is being said, "banks of late have been working long hours this week and suggest that there were banks open today." I personally have not spoken to anyone, but, a trusted source of mine has been in contact related to a citizen in Iraq suggests today that to be the case. I mentioned it to Delta and he may also try and verify that. So we shall see. I do believe that the source my data comes from has credibility. imo ~ MM
Stevep99: I have a question for Milita Man or someone with a good memory. Seems like in the past there was talk of something to effect that financial activity taking place along the lines starting in London, because of London being a center? I do recall Frank speaking of London and a another country in the east being financial centers critical to electronic or digital activity! Maybe that is why this is being wrapped up in UK. Anyone?
MilitiaMan: London is becoming the largest financial center of the world, just behind New York..
Fairly sure the connection to the UK is that is a powerful financial hub, was connected directly in the past to the county, as they sieged power over Iraq in about 1917 - 1932 when they got independence , of recent they have the IBBC and close to both France and Germany.
The three will have reconstruction and other investments in mind. Kahdimi is on a tare. Getting many things sorted while gone and even stayed a couple extra days.. It all looks like he it it out of the park.
5,000 artifacts are to be returned home. That is very important and symbolic. The Glory Days.. Just want they want to get back to.. Lets not forget that those in the war effort have Dinar..
The UK has plenty. Whereby, the implications are they cut some deals.. imo ~ MM
"London is catching up with New York as the world's biggest financial center, and the British capital only needs four more points to beat New York, according to a survey released on Friday. ... New York still ranked first, followed by London, Shanghai, Tokyo, Hong Kong and Singapore." As of Sep 25th, 2020
Will: as far as forex is concerned London trades more than double of what New York does.
MilitiaMan: Good to know and thank you for the information. May be even more bullish for us than I thought, in that respect currency wise!! imo ~ MM
Samson: The formation of an international financial alliance to support Iraq in Britain
22nd October, 2020
Today in London, I announced the establishment of an international financial coalition that includes 7 foreign and Iraqi financial institutions, to provide advice to the Iraqi government to face the stifling financial crisis that led to the state’s inability to commit to paying employees’ salaries on time and resort to internal and external borrowing
According to the British Foreign Office, the financial alliance will be called the "Economic Contact Group" and its goal is to stimulate international support for an urgent economic reform program that will last for 3 years and cost 6 million pounds
According to the statement of the British Foreign Office, which was reviewed by "Economy News", the financial alliance provides global expertise to achieve economic growth and provide international expertise from the public and private sectors to enhance economic stability in Iraq and introduce vital economic changes in order to push the wheel of growth
The International Financial Alliance to support Iraq includes the G7 countries, which are "America, Britain, Japan, France, Germany, Canada and Italy, in addition to the International Monetary Fund and the World Bank, and from Iraq includes the Ministry of Finance, the Central Bank of Iraq and the Parliamentary Finance Committee
After the first meeting of the financial alliance, he issued a statement saying, "Iraq is facing daunting economic challenges that have been broadly overshadowed by two crises, the Corona virus crisis and the decline in oil prices
He stressed, "There is a need to take immediate measures to achieve stability in the economy and create a comprehensive economic environment suitable for the implementation of the reform, as the members of the Economic Contact Group for Iraq agreed to work with the Iraqi government to put an out-of-way way to set the sequence and priorities of reforms in addition to mobilizing international support to implement these reforms
He noted that the Iraq Economic Contact Group will hold its meetings every three months to monitor progress, manage risks and coordinate support effectively, and this includes two annual meetings on the sidelines of the Spring Meetings and the Annual Meetings of the World Bank
She added, "It supports the Iraqi government's vision of reform, not only to ward off current crises, but to create permanent economic opportunities for the Iraqi people that meet their aspirations
Meanwhile, Finance Minister Ali Allawi said that the white paper received absolute support from industrialized countries and international organizations for the first time , indicating that international support and welcoming the white paper is an achievement of the Ministry of Finance
He added, "The international organizations saw that Iraq faces daunting economic challenges overshadowed by the crisis of Corona and the decline in oil prices, and that the White Paper is an ambitious program for comprehensive economic reform, strengthening the growth of the private economy and protecting the most vulnerable groups
He pointed out that the industrialized countries and international organizations announced their support for the Iraqi government's vision of reform not only to ward off the current crises, but to create permanent economic opportunities for the Iraqi people that meet their aspirations LINK
Samson: The Bank, the World Fund and the Group of Seven declare their support for the White Paper
The Bank, the World Fund and the Group of Seven announced their support for the White Paper.
The Deputy Prime Minister and Minister of Finance participated in the first meeting of the Economic Contact Group for Iraq, which was hosted by the British Minister of State for Middle East and North Africa Affairs and chaired the meeting, Iraq and the World Bank, with the participation of members of the Finance Committee in the Iraqi Parliament, and representatives of the G7 member states and the International Monetary Fund.
The participants expressed their support for the recently adopted economic reform white paper.
The Deputy Prime Minister and Minister of Finance expressed his appreciation to the United Kingdom for hosting the meeting, and presented a summary of the objectives of the White Paper for economic reform and stressed that supporting the Economic Contact Group will enhance Iraq's ability to face the challenges of the next stage. LINK
Samson: Washington looks to support an ambitious reform agenda that promotes a strong economy for Iraq
The US embassy in Baghdad published, on Thursday evening, a tweet about Washington’s participation in the launch of the Economic Contact Group on Iraq.
"The United States was pleased to participate in launching the Iraq Economic Contact Group with Finance Minister Ali Allawi," the embassy said in its tweet on Twitter.
"We look forward to supporting an ambitious reform agenda to work to promote a strong economy for the Iraqi people," she added. LINK
MilitiaMan: Let those two words resonate. They support now (immediately) not in 2021. The new rate will be applied to the 2021 sure, but, not until after they make the change imo in 2020.. The budget needs the rate. The rate doesn't need the budget.. IT needs the CBI to talk to us.. lol ~ MM