KTFA (MilitiaMan)

  In KTFA 

MilitiaMan: Adviser to the Prime Minister sets the conditions for re-exchange of the dollar to the previous rate

09/26/2021 16:01:15

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, set the conditions for reconsidering the exchange rate of the dollar against the dinar and returning it to the previous rate.

Saleh told {Euphrates News} that “restoring the dollar exchange rate to its previous era requires a number of things and a period of time,” stressing “the country’s foreign currency reserves must be stabilized by addressing the budget deficit as well as improving the economy.”

He stressed that “this matter cannot happen in the short period, according to the current economic fluctuations and the general economic policy, which is difficult for anyone to speculate on its current conditions.” The exchange rate previously between 2006 and 2008, according to the Iraqi reserves of foreign currency.

It is noteworthy that the Central Bank of Iraq decided on January 19 last to make a significant change in the dollar exchange rate, as follows:

1450 dinars per dollar, the purchase price of foreign currency from the Ministry of Finance.
1460 dinars per dollar, the foreign currency sale price for banks.

1470 dinars per dollar, the price of selling foreign currency to the public.

The Central Bank’s decision caused a rise in prices for foodstuffs, consumer goods and commodities, which negatively impacted the standard of living of citizens and exacerbated unemployment.

LINK

MilitiaMan:  The financial advisor to the PM set the conditions for reconsidering the exchange rate. They sure did. They devalued the currency 12/20/2020.  A move that did nothing for the citizens but harm them with 33% increase in pricing of goods and services, etc..

We can see the negative effects on an going basis. Demonstrations are gearing to get started again. The citizens want their rights now not later. It is not the parliaments job to change the exchange rate. It is the GOV via the independent CBI to do so.

So when they say they cannot in the short period of time, they have had plenty of time already, as the devaluation is pushing a year old now and the project to delete the “Three Zeros Project” has been underway for many years and even now the White Paper on Reforms has been underway for a lengthy time as well.

We too see that the currency reserves are stable. They show us they have increased. A Decrease is unstable, where are an increase is strengthening and stabilizing in effect.

I am not sure why he says it is difficult to speculate when there is support for the positive effects on different revenue streams coming on a regular basis.

Oil is at $78.00 a barrel. They are activating borders digitally. They are selling LNG and not firing it. They have mining assets that are world re-known that will create jobs and more jobs and not only for Iraq, but, her neighbors.

So the difficult thing about speculation may be asked, “Why has the digital transformation not interlinked globally yet?”

 The answer may very well be, it is underway and needs a time frame that links partners globally all at a time that is cohesive for smooth interconnectivity with communicable systems for clearing trade at borders and abroad.

A level and transparent playing field is required with minimal shocks to markets. ~ MM

LINK

Al-Hashemi calls on the government to focus on the digital economy.

“Al-Hashemi praised the government’s tendency to establish a youth support fund with an amount of 30 billion dinars, which supports technical projects, which contributes to the development of the Iraqi economy and makes young people go towards pioneering projects, pointing out that the private banking sector has begun to publish electronic payment tools in all the country, and requires Shop owners need to use a Pos device to organize the buying and selling process, reduce theft, waste, and more.

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MilitiaManWe know the BUNA system has it’s second addition to the FINTECH Glossary for guidance on and for the new BUNA Platform for clearing foreign currencies. So, effectively the President speech at the UN on 09/23/2021 spells out the progress and one of the items he mentions is Iraq being fully Sovereign.

 To be fully sovereign means they are 100% international.

Thus they’ll need to show the world they are fully so. That is where the CBI comes in.

The CBI will have the help of the powers that be at the highest levels of Global Finance to facilitate a smooth transition along the way, as they have in the past and will into the future. We see the activation(s) of borders in the news again today.

Also we see the statement below supporting they have now new electronic systems and are moving to a cashless society.

To move to a cash-less society is to be digitized. Which, begets another key point from the President at the UN meeting, being a topic on corruption, anti money laundering, recovering of assets, etc.. Those things can be attained with having integrated into a new block chain system. 

The new system that is being ushered in imo is about to be sprung now, as there has been years of preparation already completed and more is to be as we go along faster and faster. The new technologies will usher it in like gangbusters.

The reconstruction efforts of not only Iraq are about to interlink. The globe is fully ready and expectant now in the Middle East, Asia, America, Europe, etc.

Norway has even denounced COVID-19 as the common flue or cold. The mask that has been the effectively a propaganda prop to usher the new system in,  the mask will likely be going by the way side, just as Norway did yesterday or so. imo ~ MM  

https://www.amf.org.ae/sites/default/files/research_and_publications/Publications%20On%20AMF/2021/en/Fintech%20Full%20Glossary%202nd%20ed%20%20final.pdf

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LINK

The Central Bank succeeds in stimulating the economy and reforming the banking sector in 2021

It also implemented the strategy of the Central Bank with regard to developing electronic payment systems and moving to the cashless society. The number of ATMs operating in our banks reached (1300) tellers and points of sale with up to (5) thousand points of sale, and the number of activated bank cards reached (12) million cards.  The other important aspect that the bank has done, and our banks have played an active role in its implementation, is the commitment to international rules and standards for compliance, anti-money laundering, financial reporting and risk management..

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LINK

After the rise in oil prices .. Surprising statements from Parliamentary Finance regarding the price of the dollar and the 2022 budget

He added, “There will be no budget in 2022, and the government will rely on the Financial Management Law – Article 27, and it will work according to the 2021 budget.”

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Public Traffic announces tomorrow, Monday, the date for opening all Baghdad streets

09/26/2021 19:11:59

The Director of General Traffic, Major General Tariq Ismail, announced, on Sunday, that the streets of Baghdad will be opened by 100%, tomorrow, Monday.

Ismail said in a press statement, “The controls and most of the pavilions of the processions for the fortieth visit were removed from the streets of Baghdad, as well as the streets were opened, except for two locations, one of them in Karkh and the other in Rusafa.”

He added that “the streets of Baghdad will be 100% open tomorrow morning.”

“Iraq, a safe, stable and fully sovereign.” Pres. of  Iraq 13:55 minuts in real close. LINK

MilitiaMan:  They will have 100% access to the streets. I wonder if that means they can access the thousands of new ATMs and be able to use the millions of cards to activate a new Sovereignty? The UN video described Iraq as being safe, stable and sovereign meeting place. Let see what happens by opening up 100% of all streets in Baghdad.. ~ MM

MilitiaMan:  As mentioned before there is a concerted effort to support digital transformations around the world. Here is more support for my view on the matter of it is not only about Iraq, but, it very well me be about Iraq being a lynch pin for the transformation. 

 Again, this effort is not new appears to now have the timing on our side to come to fruition. I mentioned the powers that be.. Well the IFC and WORLD Bank are supporting Viet Nam just as they have with Iraq..

The stage has been set by Iraq at the UN as being Safe, Stable and Sovereign.. imo ~ MM

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“IFC is the largest global development institution focused on the private sector in developing countries.

IFC, a member of the World Bank Group, advances economic development and improves the lives of people by encouraging the growth of the private sector in developing countries.”

LINK

Productive and diversified private sector key to Việt Nam’s economic transformation

The report, conducted by IFC and the World Bank, which was launched yesterday, said while the private sector has played a frontline role in Việt Nam’s outstanding development in recent years, it’s now time to fully exploit the potential of this sector to boost productivity growth.

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