In TNT

Brandon316:  So after the call today I called my bank and asked if I can buy some Dong.  My bank is a smaller outfit in South-Eastern PA called Key Bank.

The girl that answered the phone said, “Oh, I don’t think that we can get that right now, something is going on with that currency”

She put me on hold and came back and just said, “we really don’t know why we can’t get it right now but we get our currency from Wells Fargo and they have informed us that they are no longer selling (but buying only) the dong!

After 12 years in this I certainly hope that this is it.  I would have never believed that we would still be here long after my first purchase in 2008!!!

Nichols:  I live in SC requested to purchase dong last week and was given a rate of $55 per million my bank had to get it from Wells Fargo and they would call me to come into the bank to purchase. Never received a call. Went to the bank today on another matter and inquired of the manager why she never called me back her response was that they could no longer get the currency from Wells Fargo.

Getagrip: A friend of mine the weekend before on the 20th, said she went to Chase bank and was told they are not sell Dong or Dinar anymore …but they are buying.

RedIndian:  A LOT of banks have been struggling to give CHANGE , they say due to US Treasury being closed ….due to COVID19. Filter filter filter this news but is a mystery and a possible sign?????

Tishwash:  An expert warns of the collapse of the Iraqi economy if the government ignores the 2020 budget

Economist Wissam Al-Tamimi warned, on Tuesday, of the collapse of the Iraqi economy with the government continuing to ignore the issue of the budget, pointing out that a lot of money may be misplaced and unprecedented corruption may occur.

Al-Tamimi told “Information” that “Parliament obligated the government to send the 2020 budget, even for the remaining months of this year in conjunction with the vote on the borrowing law.”

He added that ” Iraq may witness the largest corruption and theft in its history in the event that it did not approve a budget for the current year, as borrowing money may be used incorrectly and go to the pockets of the corrupt”, indicating that “the statements of Kurdistan employees that were sent to Baghdad need to be investigated and audited through control teams Honest sent to the region to check in the field with the names mentioned in the lists, where there can be fraud in those names and thefts to balance the country.

Al-Tamimi warned of “the collapse of the Iraqi economy in the event that parliament’s decisions regarding the budget and theft of internal and external loans are ignored, and therefore Iraq will be burdened with debt at a time when it is still suffering from a stifling financial crisis.”  link


Tishwash:   Despite the “availability of liquidity” .. the Iraqi parliament is unaware of the reasons for delaying the distribution

The Parliamentary Finance Committee said on Tuesday that the government’s financial liquidity to pay the employees’ salaries is available, stressing that the Ministry did not send a directive to the banks to pay the salaries.

The committee’s rapporteur, Ahmed Al-Saffar, told Shafaq News that “the local and external borrowing law has come into effect after the presidency’s approval of the law,” noting that “the financial liquidity is available to the government to pay the salaries of employees.”

He added that “the government has formally directed the Ministry of Finance to expedite the payment of employees’ salaries, but we do not know the reason for the ministry’s delay in paying the salaries of employees,” expecting to pay their salaries during the next few days.

On Wednesday, the Iraqi Council of Representatives approved a bill that would allow the government to borrow internally and externally to cover the country’s fiscal deficit.

Parliament voted by majority, during its session in the presence of 168 deputies (out of 329), to approve a bill submitted by the government for internal and external borrowing.

The government has submitted the draft law and includes foreign borrowing worth $ 5 billion, and an internal amount of 15 trillion dinars to fill the financial deficit in the country.

The Iraqi government is struggling to secure employee salaries and other operating expenses due to the collapse in oil prices due to the Corona pandemic, which has paralyzed large sectors of the world economy. The country relies on revenue from the sale of crude to finance 95 percent of the country’s expenditures.   link