Our Thoughts and Prayers are with you Frank and Tink. God Bless you and Get Well soon. ~The Dinar Detectives Team
Clare: UPDATE FROM FRANK:
FAMILY, FRANK WANTS YOU ALL TO KNOW THAT, BECAUSE OF THE SIZE OF THE TUMOR THAT NEEDS TO BE REMOVED… IT WILL BE NECESSARY TO HAVE TWO SURGERIES…
FRANK IS REQUESTING, PLEASE, HOLD BACK ALL CALLS & TEXTS WITH REMEDIES & ADVICE, BECAUSE FRANK & THE DOCTORS HAVE A PLAN IN PLACE…
HOWEVER POUR OUT YOUR PRAYERS ON THE FORUM…THOSE PRAYERS ARE GREATLY APPRECIATED…THANKS & GOD BLESS YOU ALL.
Don961: By the numbers: Abdul-Mahdi is preparing to hand Al-Kazemi a “financial disaster” before he leaves “Salam”!
Yassin Iraq: Baghdad
Amid the promising political atmosphere facilitating the task of Prime Minister-designate Mustafa Al-Kazemi, coupled with a difficult climate on all economic, health and security levels in Iraq, resigned Prime Minister Adel Abdul-Mahdi is preparing to move to a “relaxation phase” and fold one of the worst Iraqi times.
And the Prime Minister-designate Mustafa Al-Kazimi is waiting for a number of difficult files, perhaps the most difficult and horrifying is the economic file amid the collapse of oil prices and the accumulation of debts and additional appointments that Abdul Mahdi burdened the budget as a patchwork solution to alleviate the demonstrations that killed more than 800 martyrs and more than two thousand wounded and injured.
Al-Kazimi should propose a draft budget law for 2020 after the end of about half of the current year, at a time when economist Abdul Mahdi did not propose any budget project since he was submitted to the position where the 2019 budget draft had been prepared by Haider al-Abadi.
Money available 20% of the required!
And the financial reality of Iraq indicates a sharp decline in revenues of only 20% of the total need for expenditures!
The oil expert, Essam Al-Chalabi, said in a clarification received for “Yass Iraq” that “Iraq’s oil revenues in the year 2020, achieved for the month of January: $ 6.163 billion, while the month for February: $ 5,053 billion, and verified for the month of March: 2” $ 989 billion.
He added that “the expected for the month of April: 2 billion dollars, and the expected for the month of May: 1.125 billion dollars.”
Chalabi stressed that “that compares this with the need for April salaries and pensions for each subsequent month: about $ 4.5 billion”, while “the need for the full expenses required for the month of April and for each subsequent month is: about $ 7 billion !!!”
Chalabi pointed out that “the caretaker government is left only for days and a new government is assumed to assume its functions and there is not yet a certified budget for the year 2020 as no action has been taken to confront the crisis and it is not a regular crisis but a serious crisis that Iraq has never been exposed to,” asking: ” Who is responsible for this bitter reality? ”
Samson: China begins experimenting with its new digital currency
09:24 – 02/05/2020
In recent months, the Chinese central bank has stepped up its development of the Renminbi electronic currency, which is set to be the world’s first digital currency managed by a large economy. According to the British newspaper “The Guardian”. The regions that will begin to test the digital currency are Shenzhen, Suzhou and Chengdu, as well as a new area south of Beijing and Cheungan, and those areas will host some of the events of the 2022 Winter Olympics in Beijing.
The China Daily, a government media agency, said the currency had been formally adopted in monetary systems in those cities, with some government and public officials receiving their salaries in digital currency as of May. The “Sina News” said the currency would be used to support transportation in Suzhou, but in Cheungan the experiment mainly focused on food and retail. According to some reports, international companies such as McDonald’s and Starbucks agreed to be part of the experiment, but Starbucks denied this, according to the “Guardian.”
On April 17, the National Currency Research Institute of the People’s Bank of China, which is responsible for developing the system, said that research and development on the digital renminbi “is advancing steadily”, and that the design is of a high standard. The progress in the digital currency was reportedly driven by Facebook’s announcement in June of its intention to launch a single currency. The China Daily report said that the sovereign digital currency “provides a functional alternative to the dollar settlement system, and reduces the impact of any sanctions or threats of exclusion, whether at the state or company level.” LINK
Samson: Lebanon signs a request for assistance from the International Monetary Fund
19:38 – 01/05/2020
A statement issued by the office of Lebanese Prime Minister Hassan Diab said on Friday that the government signed today a request for assistance from the International Monetary Fund.
The statement said: “This moment is a pivotal moment in the history of Lebanon, as we started the first step towards a real workshop to save Lebanon from the deep financial gap that is difficult to get out of without effective and effective assistance.”
Beirut passed an economic rescue plan on Thursday and said it would form the basis for a request for aid from the fund.
Diab said in a press conference yesterday that Lebanon will use the plan to negotiate a program for the International Monetary Fund after it was approved by the Council of Ministers. Or five years.” Diab indicated that Lebanon seeks 10 billion dollars in foreign financial support. This is in addition to the $ 11 billion in funding pledged at a donors’ conference in Paris in 2018 for infrastructure projects but subject to long-delayed reforms.
The crisis has caused economic difficulties on a scale that Lebanon has not seen before, even during its civil war, as Lebanon, burdened with one of the largest public debt burdens in the world, failed to pay off sovereign debts in March for the first time, and the government announced that hard currency reserves reached very low levels and became required To meet vital imports.
The lira has lost more than half its value and tricks between depositors and their savings since October when protests broke out across the country over political elites. LINK
Samson: Moody’s lowers the outlook for Saudi Arabia from negative to negative
09:56 – 02/05/2020
Moody’s Rating Agency changed the outlook for Saudi Arabia’s rating to negative and confirms its rating at A1.
The agency said: The negative outlook reflects the growing downward risks of Saudi Arabia’s financial strength, as a result of a severe shock at the level of global oil demand. The negative outlook also reflects the growing downward risks of the Saudi financial strength, as a result of the price changes caused by the Corona virus pandemic.
The agency changed the outlook for the Saudi government’s ranking, from stable to negative. She said that the sharp shock of oil prices, will cause an increase in debts and erosion of the sovereign financial fenders of the Saudi government. The agency confirmed its Saudi rankings at A1 supported by the government’s balance sheet, which is still relatively strong despite a decline, indicating that the Saudi government will likely offset some of the revenue losses this year and in 2021 through cuts in spending.
The agency expected government revenues to drop by about 33% in 2020 and about 25% in 2021 compared to 2019, indicating that a sharp slowdown in GDP growth will also reduce revenues from the non-oil sector. The agency also expected the Saudi government’s debt to rise to about 45% of GDP in the medium term, suggesting that spending on the health sector will be absorbed in relation to containing the Corona pandemic by reducing expenditures.
The agency stressed that Saudi Arabia’s balance sheet has weakened since the last shock in oil prices in 2015 and 2016, despite some recent improvement in budget implementation. LINK
Purifiers: SPECIAL POST FOR OUR FAMILY…
IN DEDICATION… TO FRANK26 AND THOSE TEAMS THAT HAVE SHARED… WITH US… ALL…… THRU FRANK…
AND THEN… Israel “IZ”
“Somewhere Over the Rainbow/What a Wonderful World”