KTFA Members "News and Views" Saturday Night 6-25-2022

KTFA:
Clare:  Iraq uses the policy of "raising reserves" to control inflation
 06/25/2022 
 The economic expert, Salah Nuri, revealed today, Saturday, Iraq's monetary policy to control inflation.
Nuri told Al-Furat News that: "The central bank's reserves and capital are of great importance, especially with the international component of hard currencies such as the dollar, the euro and gold."
He added, "Increasing the reserve enables the central bank to use its monetary tools for stability, and this enables monetary policy to stabilize and control inflation."

Nuri continued, "According to the financial law, the central bank is the one who controls the dollar exchange rate, not the Ministry of Finance, but what happened, the ministry is the one who changed the dollar exchange rate, and this is a precedent that no country in the world has ever happened."
From: Raghad Daham    LINK

Tivon:  So here we are once again being reminded that Iraq has enough of reserves to cover the reinstatement of the Dinar. I mentioned this aspect of the rate multiple times. So when you compile everything as to all the sectors that is ready. You can't help but anticipate what is next. And we know what that is. Al-Kazemi already gave the go ahead a couple of days ago. IMO
108409:  ministry change the exchange rate how did that happen they are not the cbi. 
Tivon:  The Ministry changed the USD exchange rate previously that caused the problems for Iraqis. Market correction is what is probably within their jurisdiction. The CBI is in control of the IQD exchange rate. So once the Ministry do their part the CBI can act in conjunction. There's a difference. So all they have to do is reduce it enough to where it not only lessen the inflation risk but also bringing it to parity or 1:1 range. Then they can enter the market at fair value. IMO
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Clare:  Al-Kazemi arrives in Saudi Arabia
2022-06-25
Prime Minister Mustafa Al-Kazemi arrived this evening, Saturday, in the city of Jeddah, on an official visit to Saudi Arabia.

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Official Saudi media said that Prince Muhammad bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense of Saudi Arabia, received Al-Kazemi upon his arrival at King Abdulaziz International Airport in Jeddah, welcoming him and his companions in the Kingdom.
The Saudi Minister of Commerce, Dr. Majid Al-Qasabi, was also received, according to those means.
The Saudi royal court had announced earlier that US President Joe Biden would visit Saudi Arabia in mid-July to meet with Crown Prince Mohammed bin Salman, and the visit schedule includes a meeting with Iraqi Prime Minister Mustafa Al-Kazemi, Egyptian President Abdel Fattah Al-Sisi and Jordan's King Abdullah Bin Al Hussein.
And yesterday, Friday, a number of members of the Iraqi parliament collected signatures asking Al-Kazemi not to sign any agreement or treaty while attending the Saudi meeting in the presence of the American president.  LINK
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Samson:  Before his participation in the Saudi summit .. Al-Kazemi to Iran within hours (Done imo.~ MM)

25th June, 2022
An informed political source revealed, on Saturday, that the caretaker prime minister, Mustafa Al-Kazemi, will visit Iran before heading to the Kingdom of Saudi Arabia.
The source told Shafaq News Agency, "Al-Kazemi will visit Iran tonight or tomorrow morning, Sunday, before his participation in the summit that will be held in the Kingdom of Saudi Arabia," without giving further details about the nature and timing of this visit.
The Saudi royal court had announced earlier that US President Joe Biden would visit Saudi Arabia in mid-July to meet with Crown Prince Mohammed bin Salman, and the visit schedule includes a meeting with Iraqi Prime Minister Mustafa Al-Kazemi, Egyptian President Abdel Fattah Al-Sisi and Jordan's King Abdullah Bin Al Hussein.
And yesterday, Friday, a number of members of the Iraqi parliament collected signatures asking Al-Kazemi not to sign any agreement or treaty while attending the Saudi meeting in the presence of the American president.   LINK
MilitiaMan:  The meeting with Iran and then Saudi Arabia looks to have been done already. He is likely home now and that is a good thing. All the items needed may have been completed. There may be regional reconciliation at the highest levels right before our eyes.. Let this timing sink in. There are no coincidences at this stage of the monetary and political reforms. Kahdimi has necessary powers to do what he needs to do. Looks like the photos show he took care of some business.. oh ya.. lol ~ MM[/size]