MilitiaMan: I like the way they hide the key point. “Until now”.. So they slip in they have it sorted.. lol They are coming to town tommorrow. A day before the vote on the 2021 Budget is expected. imo ~ MM
Samson: Parliamentary Finance: The government text related to the region and the budget remains unchanged
13:40 – 13/03/2021
Member of the Parliamentary Finance Committee, Jamal Cougar, confirmed, Saturday, that the government text regarding the region’s share remains and has not changed so far, indicating that negotiations are continuing between the Finance Committee and the region’s delegation until next Monday.
Cougar said in a statement to “the information”, that “the dispute between the region and the Parliamentary Finance Committee has not been resolved'”until now”‘and that the government text remains as reported by the government, and no change has been made on it so far.”
He added, “The negotiations of the region’s delegation with the Parliamentary Finance Committee are still continuing despite the inclusion of the law on the agenda of next Monday’s session,” noting “the presence of positive indicators as compromises.”
And a member of the Parliamentary Regions Committee, Representative Mudhar Al-Karawi, confirmed in a previous statement to “Al-Maalouma”, that 80% of the political forces support the passage of the budget next Monday. LINK
Don961: New changes to the exchange rates of the dollar attract the attention of the Iraqi street … “big” consequences that economists predict
2021-03-12 Yes Iraq: Baghdad
Wide anticipation continues in the Iraqi street for any new decision related to changing the exchange rate of the dollar again in Iraq and reducing it or returning it to its previous price, after the committee formed to study the consequences of changing the exchange rate announced that it will come out with recommendations to the Council of Ministers within 30 days.
While there is talk, anticipation, and demands for restoring the previous exchange rate, economists have highlighted major consequences that may occur as a result of changing the exchange rate.
Economic expert Manar Al-Obaidi says in a blog posted by “Yass Iraq”, “There are a lot of discussions these days regarding the review of the exchange rate and whether it will be changed or not and return it to 1200,” noting that “any change in the exchange rate in this near period will have great repercussions Including the loss of confidence in the Iraqi economy.
He adds: “The exchange rate was made under pressure from the World Bank and the international parties supporting Iraq, and the process of returning the price will lead to a reduction in support from these parties.” In the Iraqi market, it will make importers maintain a high exchange rate, fearing the possibility of a return to its rise. ”
He explained, “The government should take advantage of the currently high price of oil to immediately start building industrial strategic projects capable of providing raw materials for manufacturing industries, which will support the provision of a local product capable of providing various products to the Iraqi market.”
He stressed that “if the exchange rate had to be changed, it is better to move towards floating the dollar instead of the policy of controlling the exchange rate and depleting hard currency to maintain a stable exchange rate,” noting that “what is required of the Ministry of Planning is to work strongly to clarify the sectors that most affect the rise in the dollar price And work actively to launch programs packages to reduce the impact of the depreciation of the dinar on these sectors, especially in the food and health sector.
He continued, “Work to issue a performance follow-up report for the development plan, which is the basis for building the country and activating the correct economic policies instead of focusing on monetary policy, which is considered supportive of economic policy and not the pillar of the Iraqi economy,” stressing “the need to activate the 3 trillion initiative that was announced.” About the Central Bank to support vulnerable groups and work to activate the ration card and improve its vocabulary. link
Clare: THANKS DON!…. “Wide anticipation continues in the Iraqi street for any new decision related to changing the exchange rate of the dollar again in Iraq” MUSIC TO OUR EARS! imo
Samson: Al-Sadr’s Alliance is distancing the Kurdistan Region from delaying the budget and disclosing other differences
13th March, 2021
The Saeron Alliance, supported by the leader of the Sadrist movement, Muqtada al-Sadr revealed, on Saturday, that the dispute over the Kurdistan Region’s share in the 2021 budget is not the reason for the delay in voting on it by the House of Representatives.
The deputy of the coalition, Riyadh Al-Masoudi, told Shafaq News, “The problems and disagreements about the draft budget law for the year 2021 are not related only to the share of the Kurdistan Region, but there are technical differences, including the issue of the exchange rate of the dinar against the dollar, as well as the issue of including job degrees in the law, in addition to The surplus amounts due to the increase in oil prices, etc.
He added, “Until now, there is no agreement to pass the 2021 Budget Law during next Monday’s session,” explaining that “the inclusion of the law for a vote on it does not mean its passage or approval for that.” Al-Masoudi ruled out “the possibility of passing the budget bill without the agreement of all political parties on it, but this agreement has not happened until now.”
The Deputy Speaker of Parliament, Bashir Al-Haddad, had ruled out last Thursday the approval of the federal budget for 2021 at the mid-session next week. Al-Haddad said in a statement to reporters in Erbil that it is “difficult to pass the financial budget in next Monday’s session because the Federal Court law has not been approved yet,” stressing that another special session for the budget should be determined.
Last Monday, Parliament Speaker Muhammad al-Halbousi directed that the budget bill be included on the agenda of next Monday’s session, based on a request submitted by Representative Yusef al-Kalabi, signed by 150 deputies. LINK
MilitiaMan: Even Sadr is stating that the reason for the delay is not Kurdistan Region’s share of the 2021 Budget, but, that is about technical differences and issues with the Dinar exchange rate to the dollar. Well go figure.
They all know what the exchange rate means to the country. They have been very busy today about talking about the private sector and going global. To do so will require a strong exchange rate, at least not one at a program rate.
That would also mean they are about to be digital. There is significant evidence that there has already been work done in regard to the digital dollar and digital dinar. I find the timing of the articles to be by no coincidence.
The US Federal Reserve System had what is said to be an “operational error” 02/24/2021. We also noted that they were to be testing their systems pertaining to wire transfers, money movement through ACH Payments, etc.. Those testing times were said to be on 19th of this month, and even earlier to have been done on the 8th.
The 19th is fast approaching. Does that day have a significance, I am not 100% sure, but, it is a date the Fed mentioned to be one of interest. Is it still now? We may soon find out.
One thing is sure imo, if Iraq is going to the global arena, which from the sounds of what we read today, they may have already started that process of opening to the outside world, as imo they know they have a time line to meet, hence the mention of it and it’s urgency.
The digital world will require interconnectivity with like systems in place to communicate trade. Currency exchanges. All aligned accordingly. Salaries will need to be sorted by the 25th. Retro activating the 3 months of this quarter will need to be sorted as well accounting wise.
With that said, it is safe in my view to presume that the new exchange rate would precede any vote or there would be concerns of significant consequences from the people. That vote is slated for Monday, next and Kurds are showing up tomorrow for that reason. Thus, the payments for the months prior would need a rate to be allocated in advance. Not after the fact. imo.
So with that said, there is pressure from and on many fronts to adjust the exchange rate and soon.
It being prior to the vote Monday or not is only hours away, effectively. Even then the pressure to have it sorted this month, is imo view immense. Even the UN is pushing hard.. lol imo I like March in a big way. imo ~ MM
Al-Abadi said in a tweet on Twitter: “We have to meet the demands of the Iraqi people and not underestimate the demonstrators.”
“The deputy head of the committee, Qusay Abbas, said in a statement to “the information”, that “the draft law on freedom of expression is awaiting its presentation on the agenda,” indicating that “the legislation of the law has become an urgent necessity after the opening of Iraq to the outside world.”
Who needs a digital dollar?
11th March, 2021
The idea of a digital dollar has been on the horizon for a while. More recently, the idea was floated by US Treasury Secretary Janet Yellen and Federal Reserve Chairman Jay Powell. At an event in February, Yellen referred to the idea as “totally worth considering,” adding that the Boston Federal Reserve, in conjunction with academics at MIT, was already doing so. In testimony he gave to Congress the next day, Powell described the digital dollar as “a high priority project for us.”
The Federation of Iraqi Chambers of Commerce signs a memorandum of understanding to develop the work of the private sector
The signing of the memorandum came in accordance with the strategy approved by the Federation Council for the year 2021, the capacity-building that the world is witnessing, the adoption of the principle of transparency in commercial work, and the adoption of the private sector with the global system
The United Nations detects the disastrous effects of raising the price of the dollar against the dinar
Fps and work to activate the ration card and improve its vocabulary. link
Don961: Adjusting the exchange rate of 1200 dinars … Deputy: The decision is exclusively in the hands of two parties – urgent
7,366 Sweeteners 2021/03/13 16:28 Baghdad Today – Follow-up
Deputy Sabah Al-Ugaili confirmed that changing the exchange rate from its previous rate of 1200 dinars to its current price, which exceeds 1450 dinars, was made by a decision of the government and the Central Bank to reduce the large deficit in the budget.
“The exchange rate of the dollar has not changed as a result of supply and demand, but rather by a decision by the Iraqi government and the Central Bank to reduce the large deficit in the general budget. Therefore, these two parties are obligated to adjust the exchange rate of the dollar and re-raise the price of the dinar, or provide Support to the poor classes, which have been greatly affected as a result of the rise in the dollar. ”
He added that “the survival of the dollar exchange rate in its current position in light of the deterioration of the living conditions of most Iraqi families will generate great political and popular pressure on the Iraqi government and the Ministry of Finance,” noting that “the economic situation of Iraq has somewhat improved, and the percentage of deficit in the general budget has decreased by half due to The return of high oil prices, and there is no need for the dollar’s exchange rate to remain as it is, because it has a great impact on the poor class.
Previously, a member of the Parliamentary Economic and Investment Committee, Nada Shaker Jawdat, denied that there was no real seriousness in Parliament to change the dollar exchange rate to the previous one.
Jawdat said to (Baghdad Today), “The talk about the lack of a parliamentary majority rejecting the adjustment of the dollar’s exchange rate after it was raised by the Ministry of Finance and the Central Bank, is inaccurate and far from reality. On the contrary, the majority with the exchange rate adjustment and returning it to What was it or less than what was stated in the 2021 budget bill. ”
She added that“ adjusting the exchange rate of the dollar against the Iraqi dinar remains within the authority of the Iraqi government, while Parliament cannot make any amendment except with the approval of the government, ”pointing out that“ until At the moment, there is no government approval for this amendment. Rather, there is an insistence that the exchange rate remain unchanged, and this is what the majority of MPs reject. ”
Earlier, a member of the Parliamentary Finance Committee, Jamal Cougar, confirmed that the political movement is still continuing within the House of Representatives, with the presence of parliamentary signatures submitted to the Parliament in order to restore the exchange rate of the dollar against the dinar or reduce the current price.
In an interview with (Baghdad Today), Cougar said, “The political movement in this regard is still going on, even there are requests that have been submitted with the signatures of a large number of members of Parliament to the Parliament for the sake of the dollar exchange rate.”
He added, “These signatures remained unchanged, because the Finance Committee and Parliament do not have any authority to amend or return the exchange rate of the dollar,” stressing that “this matter is exclusively within the authority of the Central Bank.”
And he indicated, “The government is difficult to go in this direction, because changing the exchange rate or returning it to its previous price needs to reformulate the 2021 budget bill anew.” LINK
MilitiaMan: “Obligated to return the exchange rate to what is was and what is stated in the 2021 budget.. “
Well that is the million Dinar Statement of the Decade imo lol.. What is that rate at which they speak? If it is the program rate, why hide it? They wouldn’t. This article Don is a doozy. Thank you! ~ MMTags: ktfa /