Samson: The fastest government”… An informed source: Announcing the cabinet line-up next March
12th January, 2022
An informed political source revealed, on Wednesday, that the procedures for forming the next government are proceeding in full swing, and it is hoped that the final formation will be announced next March, suggesting that some forces of the coordination framework may join the Sadrist bloc if consensus cannot be reached. Between the frame and the chests. LINK
Tivon: An “Informed Political Source” doesn’t define edict or decree or any revered position of power & authority to dictate any definitive statement in regards to political blocs in the arena from which these figures operate on the day to day basis to form a reliable opinion that clarify what or when something should or would be done.
Therefore anyone attempting to shape a narrative around this notion should not be adhered to under any capacity whatsoever no matter the source of the hearsay information on the matter.
The Central Bank of Iraq made if very clear as to their institutional motives to potentially release the exchange rate prior to the formation of the government as however long that would take has no bearing on this financial incentive to do so.
Whether it is this month or next March is not of any concern to the CBI. I do not know why people who are not even encouraged to show their faces can make statements on behalf of an governing body without any disclaimer as to verifying any notable resources that one can look into to validate their claims is taken serious by students of Frank and his team who educated us on who to listen to as shown throughout the many articles about who controls the chaos on the court.
We are far to ensconced into the political soap opera coming from these ghostly apparitions floating above the GOI whispering sweet nothings of confusion and delusion to impart their unsolicited comments as to what to expect from the prospective cabinet.
Stick to what can be published and proven.
MilitiaMan: She added that “the Iraqi government wants to achieve two goals, the first is a message of friendly signal to Kuwait of its commitment to implement its commitments, and the second is to re-integrate the Iraqi banking system with the global banking system.”
On November 21, 2021, the Central Bank announced the payment of the last batch of compensation to Kuwait amounting to (44) million US dollars, expressing the hope that the termination of the payment of compensation would contribute to removing Iraq from Chapter VII. LINK
“government reforms, including public finances, services, contract procedures, border crossings, and the transparency of oil sales that Deloitte is reviewing, have made us stronger in our fight against corruption, as we have strengthened oversight and oversight of our revenues by linking the Kurdistan Regional Government to the global banking system, and now with increasing looming on the horizon for EU financial and investment cooperation, banking sector reform and support will be much easier to provide services to the public.” LINK
MilitiaMan: Tivon, Thank you for you observation and your input.
If we use data to support our thinking, it seems to be of a more grounded approach. Tangible, if you will. Thes links provide support that the CBI is working on what they are to be concerned with and that is not politics, it is banking and finance.
They have been working to re-integrate Iraq into the global banking system and from what we see in the immediate above link they linked the Kurdistan REgional Government to the global banking system.
They don’t say they activated the system but, they did link.
CBI would have done that for them too. They have apparently had Deloitte working to that end on the matter as well. Article VIII compliance 100% is where I eyes are now.
The above statements suggest that they have a goal, are achieving that goal and a REER (Real Effective Exchange Rate) is to be expected from the end result. imo, ~ MM
Tivon: Correct and direct to the point of the interlinked banking system with international markets that has been made to establish a more unified market for East & West.
Which is why I suppose the CBI suggesting releasing the new exchange rate prior to the formation of the government simply because the groundwork is now ready to launch what has been built on top of the template which is “The REER”.
They are no longer on the EU blacklist. And is now out of CH.7. What else is there to wait for?
We know the current oil surplus has uprooted the reasoning in raising the price of the dollar. We should be exchanging as of now. So I am in alignment with the CBI as to independently moving ahead without the GOI.
Forging ahead unabated by political blocs to save their citizens and country is the best move to make for all involved. Imo.
MilitiaMan: Btw, Kahdimi is in Najaf, with Sadr, CBI Governor, ministers etc., today.. Sadr addressed his desire to change the exchange rate months ago..
With the continuity we see of late with the EU lifting the country from the high risk status, they have the borders interlinked with automation for taxes, tariffs, customs and fees, the credit card out today for cross border use for citizens all adds support to the progress is upon us.
Also, to note the USA is advertising that new currency and coins are coming out and within days.. imo.. ~ The new system is going to be global.. Transparency is in the new system…. block chain…. Exciting times.. imo ~ MM
Samson: Economist: The Government Has No Justification To Continue Raising The Dollar Exchange Rate
12th January, 2022
The economic expert, Ihsan Al-Kinani, confirmed that the government does not have any justification to continue to raise the exchange rate of the dollar in the local markets, pointing out that oil prices and financial abundance make it imperative for the next government to take measures to reduce the exchange rate.
Al-Kinani told Al-Maalouma, “Oil prices exceeded 80 dollars per barrel, at a time when Iraq was able to overcome the financial crisis that occurred in 2020, which pushed towards raising the exchange rate of the dollar, and today the need for that is no longer needed.”
He added, “Iraq has all the financial capabilities and qualifications that necessitate a reduction in the exchange rate, especially after the completion of Kuwait’s compensation and the rise in oil prices, as well as the increase in oil production by OPEC after its last meeting on Tuesday of last week.”
And he indicated that “the next budget will be decisive, either to continue starving the people, or to return things to their previous status by reducing the exchange rate and specifying it in the budget.”
Samson: Iraq Announces All Of Its Foreign Debts After Clearing The Kuwait Bill
12th January, 2022
The Prime Minister’s economic advisor, Mazhar Muhammad Salih, announced, on Wednesday, that the total debts owed by Iraq amount to about 20 billion dollars, stressing that they are paid according to timetables and have allocations in the general budget, among the benefits of Iraq’s exit from the list of high-risk countries. in money laundering and terrorist financing.
Salih said in an interview seen by / the information /, that “raising Iraq’s name from the list of high-risk countries is an important achievement for financial integration with Europe, because it is the global financial center, which will give Iraq an opportunity to have its financial dealings wider and reduce the costs of credit risks, and it will be dealing with bank correspondents is easier.”
He added, “This positive plan has made Iraq a part of the international financial environment. As for Iraq’s remaining on the list, it is evidence of the siege. Britain preceded last year by raising the name of Iraq and today the European Union, which is a great victory for Iraq and the financial and banking sector, and before raising the name of Iraq from the list, all of Iraq’s transactions were taken into account of usury and fear of it, which affected the cost of trade and finance and the disruption of financial transactions.” Saleh pointed out that “the European Union had doubts, and they did not exist. Crimes and violations exist in all parts of the world.
As for Iraq’s transactions, they are clean and subject to compliance, because the transfer of funds is subject to many criteria, and every amount that comes out of Iraq is informationally filtered,” noting that “there is international cooperation between Iraq and the anti-money laundering bodies in the world and with the international financial team responsible for these issues, and Iraq is an important member of this team, and all these points are positive and are in the interest of Iraq and improve its integration into the global financial and banking environment.”
He explained, “Iraq has completed compensation for Kuwait and paid $52.4 billion, and all the million debts go back to the debts before 1990 and were resolved in the (Paris Club) agreement signed by Iraq in 2004 and it has written off 80% or more of Iraq’s debts, and the countries that its debts with Iraq were not settled prior to 1990, as these debts have eroded with the passage of time and 40 years have passed, noting that “some foreign debts were generated during the war on (ISIS), and the total debts owed by Iraq amount to about 20 billion dollars and are paid according to timetables and have Allocations in the general budget. LINK