KTFA:
MilitiaMan: Looks like they are making headway gathering signatures for the country and the government to be ready for the next move. Seat the government and issue currency publicly. 1190 was not a previous official rate. The demonstrators are getting antsy.. I would think that the Gov is on notice… Get seated or get left out.. imo.. The latter would not be pretty.. ~ MM
Samson: Parliamentary direction to gradually restore the dollar exchange rate
24th October, 2022
A number of members of the Iraqi Council of Representatives demanded the inclusion of the voting paragraph on restoring the exchange rate of the US dollar against the Iraqi dinar to its previous official rate.
A member of the Parliamentary Integrity Committee, Hamid Al-Shiblawi, said, according to an official document obtained by Shafak News Agency, entitled “Reducing the dollar exchange rate”, that “due to the repercussions of the rise in the exchange rate of the dollar against the dinar, which negatively affected the economic situation of the Iraqi family, which burdened the citizen.”
Especially those with low incomes. We, members of the attached list, ask the Presidency of the House of Representatives to include a paragraph to reduce the dollar exchange rate and gradually return it to the previous exchange rate within the work schedule of the next session in the public interest.
The list showed the signatures of 40 deputies so far.
It is noteworthy that the Central Bank of Iraq, on December 19, 2020, officially announced the amendment of the foreign currency exchange rate (the US dollar) to be 1450 dinars, instead of 1200 dinars, for every 100 dollars, according to the state’s general budget for the year 2021 approved by the House of Representatives. .
As a result, according to specialists, the annual inflation in Iraq has risen significantly, so that all prices of materials and goods in the Iraqi market have risen significantly, which has sparked a wave of strong resentment among the popular circles, as well as the objections of some interested in economic affairs.
************
Samson: Ihsan Al-Shammari: The Sudanese government will be devoid of independents and will be consensual between the parties
24th October, 2022
Head of the Center for Political Thinking, Ihsan Al-Shammari, confirmed: “The government of Muhammad Al-Sudani will be devoid of independent ministers and will be consensual between the parties.”
Al-Shammari said in a statement to the National Iraqi News Agency ( NINA ): “Al-Sudani will choose from the lists of names of candidates for the parties, personalities for the ministries according to special criteria that can implement his government program,” pointing out: “Independents and technocrats are all slogans that were in the formation of previous governments because the ministers were of the political parties.
He explained that: “There is currently a scramble and competition between political parties over ministries and their monopoly, and this matter ends after the formation of the government, so that the Prime Minister-designate faces internal challenges, most notably services, unemployment, uncontrolled arms, corruption, poverty, economic, security, and external aspects and his relations with countries, most notably the balance that he must leave, because the world sees Iraq as an important country and it must take its part,” he said.
He pointed out: “The biggest challenge for the Sudanese government is to implement a government program that meets the aspirations of the Sadrist street and with more than half of its demands. Otherwise, the Sudanese will be angry in front of the Sadrist Street.”
Al-Shammari continued: “The Sudanese must also deal with the emerging parties and the Octoberists and their demands in a different form and vision from the previous one.” LINK
MilitiaMan: Like I said.. The street wants their constitutional entitlements… They are not even quiet about it. There is talk of politicians in the Green Zone being extricated out if there is not sufficient reforms.. Extradition out of the Green Zone, is likely not something anyone would want. Might be deserved though.. ~ imo ~ MM
************
Samson: Iraqi Telecom inaugurates the “International Access Gates” project and announces the achievement of a “qualitative leap” and the recovery of hundreds of billions
24th October, 2022
The Iraqi Ministry of Communications opened on Monday the “international access gates” project, which it described as “strategic and important”, declaring at the same time achieving a “qualitative leap” in the communications sector and recovering hundreds of billions of dinars.
The Minister of Communications, Arkan Al-Shaibani, said in a press conference attended by Shafak News Agency correspondent, on the sidelines of the opening of the project, that “the opening of today’s project is strategic and important for the communications sector in Iraq,” noting that “the project was supposed to be implemented since 2007.”
He continued, “We have contracted with major international companies that have established these systems in all border areas,” pointing out that “six stations have been seized in one of the border areas and an end to smuggling operations.”
Al-Shaibani explained that “the project will prevent smuggling and will achieve additional sums for the telecommunications sector, as we have achieved a development in the speed of the Internet and jumped in the global ranking to 42nd after we were in 138th, meaning that we advanced 96 ranks, which is a qualitative leap in the telecommunications sector, and we also achieved great revenues and restored 134 one billion dinars to the Ministry of Finance, 10 billion to Dhi Qar Governorate, and 5 billion to Najaf.
And the Minister of Communications continued, “The access gates fight smuggling, reduce piracy and control the apparent chaos in social networking sites, pages and fake sites, as well as achieve greater benefit in ensuring large financial imports, and within one year we were able to pay 134 billion to the state’s general budget.”
He pointed out that “the speed of the Internet varies between companies, reaching 150_100 megabytes, and this is what made Iraq’s ranking 42 globally in stages, and after operating the “Viber to Home” and entering the implementation phase and within 6 months to a year, I expect that Iraq’s classification will be among the first 20 countries globally.”
For his part, Director of Al-Awsat Telecom, Mazen Ali Hassouni, said during the opening conference, “The project of international access gates to the Internet contribute to building the nation. It is not hidden from everyone that the telecommunications sector is important and more vital and represents the artery of other sectors, and that the percentage of profits in the telecommunications sector is constantly increasing.”
He explained that “the Internet sector in Iraq is an integrated and modern project to control capacities through telecommunications infrastructure, from international providers to local providers.” He pointed out that “the Internet portals project covers all Iraqi governorates and with major sites for operation and capacity limits, it is based on controlling Internet capacities and limiting any illegal operation while providing high Internet capacities.” LINK
MilitiaMan: Expectations are looking very promising… Imagine the revenues when all is up an running at full speed.. Amazing it will be and is starting out now.. imo ~ MM
Samson: Deputy: An upcoming parliamentary hosting of the Governor of the Central Bank and the Minister of Finance regarding the reduction of the exchange rate
24th October, 2022
The representative of the Sadiqoon bloc, Suhaila Al-Sultani, announced today, Monday, the hosting of the Governor of the Central Bank and the Minister of Finance in order to reduce the exchange rate of the dollar against the Iraqi dinar.
Al-Sultani said, according to the media of her bloc, that “the signatures of more than 50 deputies were collected to host the governor of the Central Bank and the Minister of Finance in the new government in order to put pressure on reducing the exchange rate, even if it was in stages or gradually.”
She added, “The exchange rate must be reduced because of the difficult standard of living that the Iraqi people are experiencing now and the high rate of poverty,” stressing that “the representatives who signed the exchange rate cut will present a successful financial policy on which global policies are based.”
And she added, “All deputies and political blocs are determined to reduce the exchange rate, and the number of deputies who signed will increase in the coming days.”
A number of deputies had announced, earlier today, the collection of parliamentary signatures from all political blocs in order to work to reduce the exchange rate of the dollar. Raising the price of the dollar in a year.
MilitiaMan: They CBI Governor and the Finance Minister hosted a meeting on the exchange rate change. The call to get 50 signatures for reduce the exchange rate back to an official rate have been collected. The exchange rate change is on the table within days apparently.. It is the Governments job to issue currency and it is the CBIs job to issue an exchange rate with the approval of the Finance Ministry…. The amount of data out today on this matter is awesome.. imo ~ I like it.. ~ MM
———————————–
Article 110
The federal government shall have exclusive authorities in the following matters:
First. Formulating foreign policy and diplomatic representation; negotiating, signing,
and ratifying international treaties and agreements; negotiating, signing, and
ratifying debt policies and formulating foreign sovereign economic and trade
policy.
Second. Formulating and executing national security policy, including establishing and
managing armed forces to secure the protection and guarantee the security of
Iraq’s borders and to defend Iraq.
Third. Formulating fiscal and customs policy; issuing currency; regulating commercial
policy across regional and governorate boundaries in Iraq; drawing up the
national budget of the State; formulating monetary policy; and establishing and
administering a central bank.
Fourth. Regulating standards, weights, and measures.
https://www.constituteproject.org/constitution/Iraq_2005.pdf?lang=en
———————————————————————-
MilitiaMan: In addition… Look at the amounts of assets Iraq has. Not to mention the new electronic system in place is returning 100s of billions of dinars… All of this supports massive value for the exchange rate change success.. imo ~ MM
—————————————–
Is Iraq exploiting the wealth of minerals instead of oil? LINK
——————————
Iraqi Telecom inaugurates the “International Access Gates” project and announces the achievement of a “qualitative leap” and the recovery of hundreds of billions LINK
************
Samson: Will the price of the dinar change against the dollar?
24th October, 2022
Today, with the political changes, the theory of restoring the exchange rate of the dinar against the dollar has come to mind, and is there a possibility of restoring the exchange rate.
“Despite the fact that the issue of raising the price of the dinar against the dollar is a popular demand as a result of its connection to high rates of inflation, although the price change was not the only factor in increasing inflation, now the public will put strong pressure on the political parties that have long called for the necessity of raising the price of the dinar against the dollar and returning to the price the old.“
MilitiaMan: See what I mean. We can all see that returning to the old price is the same as the past official exchange rate. They printed new money in 2018, they imo have distributed new money to where it will be needed internally and externally and the last part of the reforms is to seat the government cabinet so that there is legitimacy to the new government whereby, they can “issue” the new money on the books imo.. There is a difference between distribution and issuance. The latter part is where the exchange rate gets applied. imo. ~ MM
