Home
[size=30]MilitiaMan Thursday Night "International Exchange Rate" 12-23-2021[/size]
KTFA:Samson: Al-Fili: The Rise In The Exchange Rate Of The Dollar Seriously Harmed The Poor
23rd December, 2021
Member of the Economy and Investment Committee in the dissolved Parliament, Mazen Al-Faili, confirmed, on Thursday, that the decision to raise the dollar exchange rate seriously harmed the poor, noting that the decision to raise the exchange rate was a government decision.
Al-Faili said in a statement to “Al-Maalouma”, that “the effects of the decision to raise the exchange rate of the dollar are still continuing, as it caused great harm to a large segment of the poor.” He added that “despite the significant increase in Iraq’s oil exports and financial revenues, a large percentage of citizens are still facing worsening living crises as a result of the rise in the dollar exchange rate.”
Al-Faili pointed out that“there is a clear economic contraction, and the government and the central bank must retreatfrom the exchange rate immediately.“
The former Parliamentary Presidency advisor, Hammam Al-Shamaa, had previously described the decision to change the dollar exchange rate as an economic setback, indicating that the decision caused an increase in poverty and unemployment rates and ended the existence of the Iraqi economy in the first place. LINK
************
MilitiaMan: As our friend Petra has told us in his well thought out view,( LINK) that the UN has been attentive to Iraq’s finances, as they paid off Kuwait.
The CBI announced that to the world that fact and added it will usher in Financial Abundance.
Thus, now we see them speaking of a must demand to retreat from the exchange rate and to do so immediately..
Not surprising, that this would surface at this stage. As, it has been now over 1 year since the present 1460 exchange rate was imposed on the country.
That means all of the country it was imposed on, however, the effects hit the poor by far worse than the affluent, thus, the call for now to retreat is fully warranted.
Their coffers will begin to fill up more and more from the revenues they’ll not be having to pay as installments to Kuwait any longer.
The added revenues from the digitized borders, the minerals that will be mined, the liquid natural gas not flared, etc..
Now take that to another level and think about what the CBI just announced. Kuwait is paid in full and the law was at that point in time satisfied.
With that being done, other doors opened. Bank vault doors, imo. Iraq had 10s of billions of dollars frozen around the world, to the tune of about $43 Billion +- imo, that will or are now freed up.
Those monies are no longer to be frozen or are now freed, let that set in. That money will add to the reserves which will support an immediate retreat from the exchange rate to an international one.
That $43bln is not all that is expected to be clawed back either. Once it all flows in the amounts will likely be staggering in nature and I am of the belief $100 billion is just the start!!!
The list of items that are before us supporting an exchange rate change is so very powerful.
The talk I have heard of on the street of Iraq today, is in lock step with Frank that it is in motion and the process is moving at a very very very fast pace and the excitement level in one case is extreme!
So with the Chapter VII done and Iraq likely Chapter VI as well supports that there are no shackles on Iraq.
The UN would have got the memo once the CBI paid in full and early.. Early? Yep, they did it early which again supports that there is a digital transformation on going globally..
We see all the data out of the AMF supporting they are ready to clear foreign currencies including the IQD. We all see that there were two large international Banks this week able to clear digital currencies international and foreign.
With Iraq’s reserves being in a growth environment the timing to transform her currency is now. We can also see that they are closing out contracts, interest rates, closing out payments, through the end of month, etc..
These things are openly stating a change is coming.
They are not waiting on a meeting with the UN in February, there is far more at stake than just Iraq, it is global event that will be triggered, as it is about Iraq but, not all about Iraq..
In fact, there are about 136 countries per the UST data.. Central Bank Digital Currencies are here. Lets see what they bring us, I suspect we will hear about value soon, too.. imo ~ MM
************
Al-Tamimi : Iraq is awaiting action from the Security Council to get rid of the consequences of Kuwait’s debts
23rd December, 2021
Legal expert Ali Al-Tamimi confirmed, on Thursday, that Iraq has fulfilled all the financial benefits that it accumulated as a result of the invasion of Kuwait, stressing that this matter has positive repercussions on the economy in the coming years.
Al-Tamimi said in an exclusive statement to “Nass” (December 23, 2021), that “Iraq was placed in Chapter VII of the Charter of the United Nations after entering Kuwait, according to UN Security Council Resolution 666 in 1990, and that this decision came after warnings, warnings and an economic siege imposed on Iraq, then international sanctions came under Chapter VII, which means that Iraq’s character at the international level has become weak, so it is not permissible for it to contract and conclude import and export agreements.
He added, “Iraq exited from Chapter VII in 2017 under Resolution No. 23/90 – but entered Chapter VI due to the presence of related matters with Kuwait worth 4 and a half billion dollars (compensations), and after it fulfilled these financial obligations, the Iraqi government and its representative at the United Nations must notifying the Security Council in order for the Council to issue its decision that Iraq has completely completed Chapter VI and VII.
The economic expert stressed, “This has economic repercussions on Iraq, because the money that was deducted from Iraqi oil exports will be part of the country’s financial reserves, and it may have positive effects on the economy in the coming years.” LINK
Samson: Finance directs to resume work next Sunday to complete the procedure for financing December salaries
23rd December, 2021
Today, Thursday, the Ministry of Finance directed the resumption of work next Sunday to complete the procedure for financing the salaries of the current December
And the ministry’s media office stated, in a statement received by the Iraqi News Agency (INA), that “the ministry directed the Accounting Department to resume working hours for all department employees next Sunday for the purpose of completing the financing of salary payments for all ministries for the month of December,” noting that “its decision came in conjunction with the directives of the President The Council of Ministers, Mustafa Al-Kazemi, will suspend the official working hours next Sunday, on the occasion of the birth of Christ
He added, “The Accounting Department has completed, since this morning, the financing of the salaries of the Ministry of Higher Education and Scientific Research, Universities, the Ministry of Planning, the Ministry of Youth and Sports, the Ministry of Culture, the Ministry of Agriculture, the Ministry of Finance, the Ministry of Transport, the Ministry of Migration and Displaced Persons, the Institution of Political Prisoners, the Martyrs Foundation, the Investment and Provincial Retirement Authorities, the Shiite Endowment Office and the Intelligence Directorate
He pointed out, “the ministry’s permanent keenness to complete all financial procedures related to the salaries of ministries and bodies not associated with a ministry before the end of the current fiscal year LINK
The Ministry of Finance: Resuming work next Sunday to complete the procedures for financing salaries LINK
MilitiaMan: They are going to finish up the salaries Sunday.. ? A holiday on the same day? lol Okay!! Seems they were at least busy today.. lol ~ MM
************
Samson: Iraq is awaiting a UN decision to remove it from Chapter VII, and a billion dollars will be added to the budget
23rd December, 2021
Iraq has turned one of the most draining files on its economy, after paying all its dues in the Kuwait compensation file, amid optimism about an economic recovery and openness to global investment
Adviser to the Prime Minister for Economic Affairs, Mazhar Muhammad Salih, told the Iraqi News Agency (INA), today, Thursday, that “Iraq ended the Kuwait war compensation file, as it paid the last payment of dues about less than 45 million dollars,” noting that “with this, Iraq paid all obligations imposed on him under Chapter VII of the United Nations Charter and relevant Security Council resolutions in 1991
And he continued, “The compensation file cost Iraq from the gross domestic product and the efforts of its economy about 52.4 billion dollars,” explaining, “This amount is not small, as this amount is sufficient to build an electricity network system that revives Iraq for many years. He added, “This reckless war was borne by the people of Iraq,” noting that “closing the Kuwait compensation file is a new page in Iraq’s economic history
And Saleh said, “This file was costing the Iraqi daily from 6-7 million dollars,” noting that “the value of these funds from Iraq’s current exports, which amount to more than two billion dollars annually, will be added to the budget of the Republic of Iraq and block one of the exchange doors with the truth
Saleh expressed his hope that “these funds will go to development, that is, investment projects that employ the workforce and produce income,” noting that “closing the compensation file is the beginning of closing the remnants of Chapter VII. And Al-Kazemi’s advisor indicated that “Iraq has imposed about 40 decisions on it because of the Kuwait war from the Security Council and has been completely shackled until the present time, so the end of this file means the issuance of a decision by the UN Security Council that is expected to be the beginning of next year to get Iraq out of the problems of Chapter VII of the United Nations Charter
He stated that “Iraq was considered an aggressor country, while in fact it is a peaceful country that loves its friends and neighbors”, expressing his hope that “all Iraq’s disputes will be resolved within Chapter Six by amicable means in truth
Saleh pointed out that “Iraq has great prospects by its integration into the global economy,” explaining that “the isolation in which Iraq lives is very great, and the world’s planes still do not reach Baghdad airport except for some regional countries, and this is part of the siege that Iraq is still considered a war zone with insurance and shipping costs in transfer of technology and in dealing with economic progress
Saleh stressed “the need for a ten-year development plan that will last for ten years to benefit from oil imports, as we start with the infrastructure and end with income-generating projects in all cases,” expecting that “the year 2022 will be a year of progress and prosperity for Iraq and broad positive indicators that begin with the closure of Chapter VII of the Charter of the United Nations.” The United States, the end of the Kuwait war reparations, the return to normal economic life, and integration into the international community
While the economic expert, Basem Antoine, confirmed to the Iraqi News Agency (INA), that “closing the Kuwait compensation file will restore confidence in Iraq and its investments, in addition to improving its image and reputation among several countries and companies to serve the people of the country, as well as the confidence of foreign citizens in Iraq,” noting that “exiting from the seventh item will be followed by some measures, but it is a step forward, and it remains on the efforts of the Central Bank in this process
And Antoine indicated that “Iraqi banks will restore their dealings, such as using correspondents from abroad, to achieve great and wide achievements with these banks, such as Al-Rafidain Bank, which is mainly a giant bank, in addition to the need for intermediary banks with Iraq. He stated, “The value of the amount of compensation will continue after closing the file and placing it in a sovereign fund, to be like the rest of the Gulf countries, and this fund will have rewarding results
While the academic at Basra University, Nabil Jaafar, confirmed to the Iraqi News Agency (INA), that “Iraq has paid all the compensation imposed on it by the UN Security Council, amounting to 52 billion and 400 million dollars, and therefore the Iraqi government must request that Iraq be removed from Chapter VII to VI and the liberation of its financial accounts Especially the oil revenues that go to the US Federal Bank to deduct the share of Kuwait’s compensation and then go to the Ministry of Finance
He stated, “The compensation has ended, and therefore oil revenues, which are revenues in foreign currency, should go to Iraq directly to the Ministry of Finance,” stressing the need for “Iraq to ask the Security Council to protect Iraqi funds deposited abroad in international banks. And he indicated that “the government’s directions after this file are to establish a sovereign fund in which the 3% of the oil proceeds that used to go to Kuwait, which sometimes amounted to two billion dollars annually, are deposited, to be invested at home and abroad and be a kind of buffer against the international crises that befall Iraq as one of the countries rentierism
While the economic analyst Tariq Al-Ansari told the Iraqi News Agency (INA), that “the gains that Iraq achieved from ending the Kuwait compensation file are to reduce the burden on the Iraqi budget related to debt, including Kuwait’s unfair compensation against the Iraqi people, because the decision was based mainly by the Security Council on The damaged party without taking into account the causative party with a great exaggeration that is not commensurate with the extent of the damage inflicted on Kuwait,” stressing the necessity of “exiting Iraq from Chapter VII as a result of paying its debts from Kuwait’s compensation 100% and entering it within Chapter VI because Iraq fulfilled its obligations from a legal point of view.” and finance
He continued, “The investment of the value of the sums that were paid to Kuwait, estimated at two and a half billion, is through restoring the infrastructure of Iraq, absorbing unemployment and reducing inflation and poverty, which has reached the 7% inflation rate in Iraq, and this is a very large number and has negative repercussions on the life of the homeland, because This inflation should not be more than 1-1.5%, which is acceptable. He stressed the need to “put the Iraqi economy on the right track from a scientific and methodological point of view, and restructure the economy with its monetary, financial, investment and oil policies as mentioned in the white paper
Al-Ansari called on the Iraqi government to take immediate, correct and sound measures since the beginning of next year to absorb unemployment, identify competencies, and put the Iraqi citizen on the right track, while reducing the exchange rate of the dollar against the Iraqi dinar to 130 as a first stage, and after three months it must be reduced to 120 so that the citizen can Iraqis are able to meet their basic and daily legal needs
And economic analyst Osama Al-Tamimi confirmed to the Iraqi News Agency (INA), that “Iraq will return to its normal state after it has finished paying its compensation to Kuwait under the relevant Security Council resolutions approved in 1991, including Resolution 687 to pay the Central Bank 44 million dollars, as the item will leave. The seventh and moves to Article VI of the Charter of the United Nations, and the Iraqi banking program is integrated within the international programme
He pointed out that “it has become imperative for future governments to invest the financial surplus, which represents the sums deducted from Iraq for the benefit of the United Nations Compensation Fund, on a regular basis, and direct them to the national development wheel to establish various projects that serve the growing economy according to promising economic plans.” It amounts to about 5% of the federal budgets. And the Central Bank of Iraq announced, earlier, the completion of the last remaining installment of Kuwait’s compensation, amounting to 44 million dollars
The bank stated in a statement received by the Iraqi News Agency (INA), that “the payment of the last remaining installment of the State of Kuwait’s compensation amounting to 44 million US dollars has been completed, and thus Iraq has completed the full payment of the compensation amounts approved by the United Nations Compensation Committee of the UN Security Council under Resolution (687) for the year 1991, with a total of (52.4) billion US dollars for the State of Kuwait
He added, “It is hoped that ending the payment of compensation will contribute to removing Iraq from Chapter VII, as well as its impact on reintegrating the Iraqi banking system into the global banking system and benefiting from the financial abundance that will be achieved LINK
************
MilitiaMan: The amount of past tense closure in this article has all the indicators that Iraq is to be back to her rightful place in the region, the top. Her present and future value is immense. There will be be no stopping the progress that is to ensue.
The amount of growth the country is about to experience will be one that may very well be biblical in proportion. The $2 billion per year over time will be a foundation, that begets even more and more through the many mechanisms they have in place now.
Most likely a very good reason they have been successful in selling their bonds.. Re integrating the Iraqi banking system into the global banking system is going to be a BUNA experience.. One that will be very powerful.
PS the $64 billion in reserves is not all reserves, there is more to support the currency.. 5.. imo !~ MM
» The Central Bank of Iraq participates in a symposium on its development initiatives at the Baghdad I
» Al-Fateh: America's Statements Regarding Normalization Are Evidence Of An Attempt To Drag Iraq To Th
» The Central Bank Of Iraq: Our Initiatives Pushed The Country's Economic Wheel Towards Progress
» Kurdistan Parliament: Our oil dealings with the world are legal and neighboring countries stand agai
» Al-Samarrai after meeting Al-Maliki: The door for dialogue is open with everyone
» Al-Sadr calls on Parliament to pass the Food Security Law despite the "obstruction of lawsuits"
» What are Iraq's plans to invest the financial surplus from oil sales?
» Organization: Most of the water violators are powerful personalities who cannot be held accountable
» Al-Maliki's coalition: the government's mistakes are leading Iraq to the most serious societal crisi
» Al-Samarrai and Al-Maliki: The necessity of finding solutions that contribute to ending all politica
» Specialist: The resignation of the Minister of Wealth in the region is linked to the negotiations wi
» Al-Sadr's tweet gives "momentum" to food security legislation, and the government is looking for a "
» Kurdistan Parliament ends 75 days of stalemate and resumes its sessions early next June
» How does Iraq plan to invest the financial surplus from selling oil in economic development?
» Important Files On The Table Of The Minister Of Oil’s Talks With French Energy And Economy.. Get To
» Parliamentary Energy: Electricity solved 89% of distribution problems
» Former MP: The Government And Some Parties Are Seeking To Violate The Financial Management Law By Se
» Hezbollah: The Iraqi Parliament's Criminalization Of Normalization Is An Expression Of The People's
» Normalization Are Evidence Of An Attempt To Drag Iraq To The Abrahamic Agreement
» Urgent Parliamentary Government Meeting To Stop Turkish Violations And “Expel The Occupation”
» Law: Criminalization Of Normalization Is A Second Blow To America After The Decision To Expel Its Fo
» Bafel Talabani Again: No Gas Pipeline Will Pass Except Over My Body
» An Economist Reveals The Details Of Kurdistan's Sale Of Oil To Israel
» Leader By Law: The Government's Mistakes Lead Iraq To The Most Serious Societal Crisis In Its Histor
» The United Nations issues a statement regarding the "closed" meeting of the Kurdish parties and Blac
» The Iraqi "Criminalization of Normalization" Law... Gaps, Comprehensiveness and Rubber Clauses
» Security Council resolution on Iraq
» Al-Sadr responds to the US embassy's rejection of the law criminalizing normalization: Is this your
» An Iraqi center accuses Al-Amiri of "stifling journalists" and silencing their voices after he sued
» After the Kurdish rapprochement, the framework moves towards Al-Sadr and denies its agreement with t
» He visits Paris to attract investors.. The Iraqi Oil Minister reveals the amount of oil produced
» The Iraqi Ministry of Oil quotes the President of International Energy: We deal with Baghdad exclusi
» Iraq imports half of Turkey's white meat exports
» A slight decrease in the exchange rates of the dollar in Baghdad
» A slight increase in the price of gold in the Iraqi market
» More than 850 million dollars in bank sales in a week
» Iraq is sixth... 1.69 million cars sold in 12 Arab countries during 2021
» Under the supervision of the First Deputy Speaker of Parliament... Approval of Representative Nassif
» Nechirvan Barzani addresses Baghdad: Stop the pressure on the region
» A deputy excludes the passage of the Food Security Law and identifies the reasons
» President Masoud Barzani and Emmanuel Macron discuss by phone the political situation in Iraq and th
» The British Parliament criticizes the Iraqi counterpart’s approval of the law criminalizing normaliz
» Parliamentary legality explains an article that stirred public opinion in the law criminalizing norm
» The Zionist entity responds to the Iraqi parliament’s decision to criminalize normalization with a m
» Parliament pledges to follow up on the file of a segment of society and direct institutions to resto
» In the event of Parliament’s request, the government advisor announces the readiness to send the 202
» The Sadrist movement will have "the lion's share"... The Fatah bloc defines the features of a new in
» Parliamentary Defense: There is a plan to rehabilitate and organize the military establishment
» Bafel Talabani: We will present candidates for the presidency of Kurdistan and the government to cha
» A parliamentarian denies a statement attributed to her about Al-Abadi's nomination for prime ministe
» Kurdistan Energy Committee: Neighboring countries opposed the oil and gas law as it threatens their
» The International Energy Agency confirms its dealings with Baghdad exclusively
» Oil reveals planned production capacities for the next six years
» Al-Rafidain: Mortgage loans amount to 150 million and include these categories
» The stability of the dollar exchange rates on the Iraqi local stock exchange
» Transportation: Allocating two billion dollars in the 2022 budget for the suspended train project
» Oil achieves high gains and approaches $120 a barrel
» The coordination framework is preparing to launch a new initiative
» Iraq allocates one billion dinars to combat hemorrhagic fever
» Hussein Al-Sadr receives the head of the Iraqi Journalists Syndicate and confirms: We are ready to c
» The killing of agriculture continues.. the lands are razed by the "influential people", despite the
» Dollar exchange rates in local markets
» Israel responds to Iraq's legislation to "criminalize normalization"
» A deputy excludes the passage of the Food Security Law and identifies the reasons
» Judy, Holly, Frank26 and more...Friday AM 5-27-2022
» Petra and KTFA Members "News and Views" Thursday Afternoon 5-26-2022
» MilitiaMan "Not Telling The Whole Story?" Thursday PM 5-26-2022
» Adding a paragraph to mobilize the Ministry of Defense within the 2022 budget between approval and p
» Al-Tamimi: The Iraqi constitution does not contain a definition of the concept of managing daily aff
» Iran raises exports to Iraq to 12 billion dollars and demands that it be an alternative to Ukraine b
» A member of the Finance Committee rules out the completion of the second reading of the Food Securit
» Parliamentary move to legislate laws to return Iraq's smuggled money
» The Iraqi parliament passes a law banning dealing with Israel, and Al-Sadr calls for street celebrat
» America issues an official response to Iraq's passage of a law criminalizing normalization with Isra
» The United Nations issues a statement regarding the "closed" meeting of the Kurdish parties and Blac
» Security Council resolution on Iraq
» Water Resources implements a "major" campaign to address water scarcity and completes the 300-well p
» The two Baghdad stock exchanges closed with a decrease in the exchange rates of the US dollar
» Marginalization threatens to decline agriculture in the "basket" of Iraq's bread
» What are the most important economic indicators?
» Press Release Supported by UNICEF, Iraq launches the National Early Childhood Development Strategy
» The former British Minister of Defense and Trade warns against the new Iraqi parliament legislation
» In the document.. Alia Nassif presents a proposal for a law to sell and rent slums to their occupant
» A Dutch delegation arrives in Iraq to investigate an air strike on Hawija in 2015
» It resulted in casualties.. Kurdistan refutes the presence of Turkish artillery shelling on Dohuk an
» Baghdad is holding talks with Ankara to discuss the difficulties and problems facing the Iraqi commu
» A parliamentary committee defines the duties of government integration to advance Iraqi agriculture
» It was described as a strategy.. Tikrit demands financial support for 4 types of projects in it
» An Iraqi move to establish free and economic zones
» The Integrity Commission: 57 arrest and recruitment orders against high-ranking people during April
» The Security Council decides to extend the mandate of the UNAMI mission in Iraq
» The Security and Defense Committee condemns the ongoing Turkish attacks on the Kurdistan Region
» Launching a new name for the “Prohibition of Normalization” Law
» Al-Sadr addresses the members of Parliament
» Parliament adjourns its session to next Sunday
» Al-Samarrai and Al-Abadi stress the need to continue constructive dialogues
» The deep state... What is it and what is its impact on Iraq?
» Among them is hemorrhagic fever.. A parliamentarian calls on the government to work with an “importa