Frank26: INCOMING……. FROM EDDIE:
Eddie: TV today having a little we saw world bank doing project for 100 million in ways of vaccines and health needs for Iraq then they saying the new government bonds are worth a billion dinar and will help fill budget deficits and then financial advisor to Saleh saying the 2022 budget will be sent to parliament before end of this year saying it looks good because in budget oil will be 50s and the actual price of oil is to be in the 80s so will produce excess already but saying passage of the budget probably March of 2022.
Eddie: TV keeps talking today about the construction bonds and the relationship to the exchange rate keep talking about lowering the exchange rate we used to be 1160 and the way he talks sounds like to 1 he in other words is talking about a revalue without actually saying it but that spells out rv.
Frank26: Smile… They are trying to tell you something Keep listening very carefully and I strongly suggest that you go Saturday to go see your friend at the bank not Friday.
Eddie: This advisor to Saleh still on tv talking about construction bids in reference to the exchange rate.
Frank26: Told you so LOLOLOL.
Eddie: Jordan Egypt and Switzerland all making deals with Iraq today to return stolen funds.
Eddie: Holiday coming Sunday to celebrate Independence Day.
Frank26: I find it interesting that Sunday is Iraq’s Independence Day very interesting… And I have always found a Saturday into a Sunday very interesting because on Sunday Iraqi banks are open and most of the rest of the banks around the world are closed…. END…….FRANK26
DeepWoodz: National Day Iraq
In August 2020, Iraq’s Cabinet agreed on a draft law to mark October 3rd as Iraq’s National Day. Announcing the decision, Iraq’s Culture Minister Hassan Nazim explained that “the importance of this day is that it is an official and international recognition of the establishment of the Iraqi state, to be among the first Arab (countries) to gain independence”.
Frank26: "FROM THE MOUTH OF THE AUTHORITY...KAZEMI AND MUSTAFA GHALEB!!!"...F26
After The Oil Price Hike, Alia Nassif Calls For A Reduction In The Dollar Exchange Rate
28th September, 2021
Representative Alia Nassif called on the Ministry of Finance to reduce the exchange rate of the dollar after the price of a barrel of oil exceeded eighty dollars, indicating that it is not fair for the poor to pay the price of economic crises, whether they are caused by corruption or the lack of appropriate plans to deal with crises.
Nassif said today: “The price of a barrel of oil has exceeded eighty dollars, while the dollar exchange rate is still burdening the Iraqi citizen who pays the price of financial corruption and the absence of appropriate plans to confront economic crises such as the crisis of the previous drop in oil prices and the country’s dependence on oil revenues only,” indicating: The working class is the most affected by the rise in the exchange rate of the dollar, because its purchasing power is now unable to cope with the rise in the prices of food commodities and basic materials.”
She stressed "the necessity for the Ministry of Finance to reduce the exchange rate of the dollar against the dinar and return it as it was in the past, because there is no need to continue with the high exchange rate and to avoid its negative repercussions on all groups of the people." LINK
Samson: The League of Arab States calls for tight policies to advance the digital economy
29th September, 2021
Secretary-General of the League of Arab States, Ahmed Aboul Gheit, affirmed, on Wednesday, that the digital economy is currently an important resource in the global economy, as data indicate an acceleration in the growth of the digital economy at rates that exceed the rest of the sectors, as its contribution is equivalent to 22% of the total output Global crude oil, while this percentage drops in the Arab world to only 5%.
Aboul Gheit added, during his participation in the opening of the Digital Economy Conference and Exhibition (Seamless Middle East 2021) in Cairo today, that "bridging this gap and catching up with the developed countries requires us, as Arabs, to develop strict and practical policies to advance the digital economy, as investment in it will allow achieving high growth rates. and sustainable development that would absorb the large numbers of young people looking for job opportunities in many Arab countries, after the high unemployment rates following the outbreak of the new Corona virus pandemic, despite the exceptional measures approved by all Arab governments to confront it.
The Secretary-General explained that "the issue of digital transformation and the modernization of the Arab strategy in this field is one of the three priorities that we have chosen to focus on in the League of Arab States, in addition to the themes of sustainable development and entrepreneurship," stressing the necessity of "attention to building capacities in the field of artificial intelligence as the technology of the future." And in this regard.”
He pointed out that "the proposal submitted by him regarding the formation of an Arab advisory council for artificial intelligence, whose membership includes specialists from Arab organizations and member states, supervises the development of an Arab strategy in this field, and provides, when needed, the necessary advice and support to Arab countries."
Aboul Gheit added, "The development of the digital economy requires basic things, including providing an incubating and supportive environment for digital companies, establishing appropriate infrastructure and flexible legislation that facilitates the establishment of companies and provides basic rules for the protection of personal data, and other requirements." LINK
Samson: PM advisor : remaining foreign debts on Iraq
29th September, 2021
The financial advisor to the Prime Minister, Mudhir Muhammad Salih, revealed the volume of Iraq's remaining foreign debt, while stressing that it has decreased significantly.
"Iraq's foreign debts have decreased significantly, and only less than $6 billion of the actual sovereign debt under the Paris Club Agreement (debts before 1990) remains," said Salih in a statement to the Iraqi News Agency (INA).
“Payment methods include installment payment with interest until maturity at the end of 2028, accompanied by commercial debts that were scheduled after 80% were discounted in 2006 and the remaining amount is $2.7 billion.”
He explained that “the remaining amount has been scheduled and issued in a European bond to creditors since 2006 and was called (Iraq 2028), and it carries an annual interest of about 5.8 percent, as the bond will be ended. " “The European bond (Iraq 2028) is traded in the secondary capital markets where it is universally desirable in buying and selling as a result of its high guarantees,” he noted.
He pointed out that "the foreign debt does not exceed $13 billion, which increased during financing of the war against the terrorist gangs of Daesh after 2015, and there is a gradual payment mechanism for it, as allocations to extinguish it have been made within the annual general budget," stressing "the allocation of more than 9 trillion dinars in 2021 budget to extinguish debt services, and this will be the case in 2022 budget.”
"Debts that have not been settled so far, date back to the era of the previous regime, and they must be settled under the Paris Club Agreement, as these debts belong to the four Gulf countries and 8 other foreign countries, as they are unclaimed pending due to their connection with the financing of the Iraq-Iran war in Iraq, back to 80s, amounting to about $41 billion,” Salih explained.
He went on saying that, “there are internal debts, estimated at about $50 billion, which are liabilities within the institutions of the government system, and all of them are between public finance, the central bank and government banks, that is, they are not obligations on individuals but rather within the government financial entity," pointing to "preparing steps to end it without affecting the integrity of serving economic development or affecting the country’s financial sustainability.” LINK