Zig’s Place Chat and News Wednesday AM 3-10-21
Zig: Welcome to zig’s place, a chat room for dinar speculators and others….discuss any topic that you wish here
butterfly World Bank’s assessment is Flawed: Manufacturing is Viable in Iraq! 10th March 2021
butterfly The Iraqi Economists Network (IEN) has just published a new report from our Expert Blogger Dr Amer K. Hirmis, which we re-publish here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.
World Bank’s assessment is flawed: Manufacturing is viable in Iraq!
In late September 2020, the World Bank published a report entitled ‘Breaking out of fragility: a country economic memorandum for diversification and growth in Iraq’ (henceforth WB 2020).
In October 2020, the Iraqi government published its ‘White Paper for Economic Reforms: Vision and Key Objectives.’ This was followed in January 2021 by a draft ‘White Paper for Economic Reforms: Reform Implementation Plan’ – a “plan” covering ‘governance’ and 64 ‘projects’ (if tasks).
The latter requires 3-5 years to implement, and is said it “enjoys the support of the international community.” The two White Papers (henceforth WP-I&II) quote and borrow extensively from WB 2020 report. In drawing a specific direction of travel for Iraq’s economy, analogies abound in all these documents.
This note argues that the WB’s analysis on which its ‘diversification and growth’ proposals for Iraq are based is flawed. This is particularly the case in the way Iraq’s economy is characterised as one suffering from “the Dutch disease.”
There is also a glaring omission of the manufacturing sector, and its role in diversifying the economy. Rather, emphasis is placed on ‘agrifood’; a strategy reminiscent of IBRD/WB’s economic reform proposals for Iraq back in the early 1950s.
Despite their flaws, however, if the objectives of the WP-I&II are realised even at 70-80 percent rate within 3-5 years, the results will be commendable. They would make a significant contribution to urgently needed institutional reforms that would in turn build foundations for economic reforms in Iraq.
Both WP-I&II suffer from similar flaws apparent in the WB’s report. A glaring om https://www.iraq-businessnews.com/2021/03/10/world-bank-assessment-flawed-manufacturing-is-viable-in-iraq/
butterfly His full report here: https://www.iraq-businessnews.com/wp-content/uploads/2021/03/World-Bank-assessment-is-flawed..-March-05.2021-a.pdf
10 Mar 21, 11:33 AM butterfly https://www.aljazeera.com/news/2021/3/10/protest-row-russia-slows-twitters-speed-threatens-total-block Protest row: Russia slows Twitter’s speed, threatens total block
Authorities accuse Twitter and others of failing to delete posts it said illegally urged children to take part in anti-Kremlin protests.
Butterfly https://www.middleeastmonitor.com/20210310-egypt-jordan-iraq-to-form-land-route-to-increase-trade-ties/ Egypt, Jordan, Iraq to form land route to increase trade ties
butterfly Egypt, Jordan, and Iraq are to establish a land route linking the countries following the latest development in bilateral relations between the three states.
Last week, Egypt’s Minister of Transport Kamel Al-Wazir met with Jordan’s Ambassador to Cairo, Amjad Adaileh, where it was announced that a deal was signed between Egypt’s Domestic and International Land Transport Regulatory Authority, the Cairo-based Arab Union Superjet Company, Jordan’s Jett Company and Iraq’s General Company for the Transport of Passengers and Delegations.
The route will start from Cairo via Amman to Baghdad and will cost $130 per passenger, including the ferry price between the Egyptian port of Nuweiba and Jordan’s Aqaba.
In addition to discussing ways to boost trade between Egypt and Jordan and the movement of labour and students, the meeting also raised the need to develop the Arab Bridge Maritime Company, which was founded by the governments of the three Arab states in 1985 to establish commercial links between the Asian and African continents.
The three countries have been working to strengthen economic and trade cooperation over the past few years and have held three summits since 2019. The most recent meeting between Egyptian, Jordanian and Iraqi officials was held last month in Cairo where they discussed ways of “pushing forward the frameworks of tripartite cooperation and promoting joint Arab action”.
butterfly https://shafaq.com/en/Economy/ Dollar-exchange-rates-in-Iraq-7-1-4 Dollar exchange rates in Iraq
butterfly 2021-03-10 02:28 Shafaq News / The dollar exchange rates jumped in the Iraqi market today, Wednesday (March 10, 2021).
- The Kifah Stock Exchange recorded 145,400 dinars, for $ 100.
- The Al-Harthiya Stock Exchange recorded 145,400 dinars for 100 dollars.
In Baghdad Selling prices in the banking stores in the local markets
- Sale price: 146,000 dinars for $ 100 • Purchase price: 145,000 dinars for $ 100
In Erbil Selling prices in the banking stores in the local markets
- Sale price: 145,700 dinars for $ 100 • Purchase price: 145,400 dinars for $ 100
butterfly https://shafaq.com/en/Economy/ Oil-slips-for-third-session-before-U-S-inventories-EIA-data Oil slips for third session before U.S. inventories EIA data
butterfly 2021-03-10 01:38 Shafaq News/ Oil fell for a third straight session on Wednesday as investors took profits while looking ahead to U.S. inventories data due later in the day for pointers on where prices will head next.
Brent crude for May dropped 62 cents, or 0.92%, to $66.90 a barrel by 0514 GMT, while U.S. West Texas Intermediate crude for April was at $63.51 a barrel, down 49 cents, or 0.77%.
Prices gained support last week from the OPEC+ decision to largely maintain production cuts in April. They then initially jumped on Monday, with Brent rising above $70 a barrel, after attacks by Yemeni Houthis on Saudi’s oil heartland, before settling back as the alarm subsided.
“It’s a realization that there was no impact on supply from the attack,” Virendra Chauhan, a Singapore-based analyst at consultancy Energy Aspects said.
A combination of factors including top importers China and India drawing crude from storage at current high prices and expectations of a return in Iranian supplies have also cooled prices, he added.
In the United States, crude inventories rose by 12.8 million barrels in the week to March 5, according to trading sources, citing data from industry group the American Petroleum Institute. Analysts had expected a build of about 800,000 barrels in a Reuters’ poll.
Official figures from the Energy Information Administration (EIA) are expected Wednesday at 10:30 a.m. ET.
Meanwhile, higher prices are expected to bring more U.S. crude supplies back online.
U.S. crude production is still expected to fall by 160,000 barrels per day (bpd) in 2021 to 11.15 million bpd, the EIA said on Tuesday, but that’s a smaller decline than its previous monthly forecast for a 290,000-bpd drop.
The OPEC+ grouping – the Organization of the Petroleum Exporting Countries (OPEC) and allied producers – may become the victim of its own success, analysts at EFG bank said, as higher prices resulting from supply restraint could incentivise U.S. oil production.
“The current WT
butterfly oil price is well above the level needed to incentivise a substantial increase in U.S. production, which according to surveys by the Dallas Fed and the Kansas City Fed stands at around $56 per barrel,” EFG said.
butterfly https://shafaq.com/en/Iraq-News/Investment-Commission-head-returns-to-his-position-by-a-federal-decision Investment Commission head returns to his position by a federal decision
butterfly 2021-03-10 09:47 Shafaq News / The director of the Saladin Investment Commission, Laith Hamid al-Jubouri, confirmed on Wednesday that he had returned to his post by a decision of the Public Investment Authority in Baghdad, after a previous decision by the governor of Saladin to dismiss him from the post.
Al-Jubouri told Shafaq News Agency, “An official order was issued by the Public Investment Authority requiring him to return to his post and perform his duties until the file of the Authority’s administration in Saladin is resolved by the Prime Minister’s office.”
He added, “The Investment Authority formally addressed the prime minister to resolve the crisis of managing the Investment Authority in Saladin and take the final and decisive decision.”
The governor of Saladin, Ammar Jabr Khalil al-Jubouri, decided last January to dismiss the head of the province’s investment authority, Laith Hamid Khalaf, from his post due to his “bad” performance, according to an official document of the governor.
The agency has been running by proxy for two months by Deputy Director Mahmoud Jassem Al-Tamimi.
butterfly https://shafaq.com/en/Iraq-News/The-national-dialogue-is-useless-as-long-as-Iraq-s-sovereignty-is-violated-al-Fatah-says The national dialogue is “useless” as long as Iraq’s sovereignty is violated, al-Fatah says
butterfly 2021-03-10 08:42 Shafaq News / Al-Fatah coalition confirmed that the national dialogue initiative by Prime Minister Mustafa Al-Kadhimi will remain “useless” as long as Iraq’s sovereignty is violated.
On Monday, Al-Kadhimi called on all political parties to participate in what he called an “open and frank dialogue”.
The Kurdistan Region and political parties welcomed this invitation, especially the Sadrist movement and its leader, Muqtada al-Sadr, who stipulated holding it under the UN supervision, and preventing the Ba’ath and terrorist organizations from participating in it.
In a statement, al-Fatah welcomed, “any serious national dialogue, but there is no point of such initiatives before achieving full national sovereignty and the withdrawal of all foreign forces from Iraq.”
“It is better for the government to provide effective solutions to the economic crisis, restore the prestige of the state, establish security, provide basic services to citizens, and prepare for the early elections.”
butterfly https://shafaq.com/en/Iraq-News/Al-Araji-denies-the-claims-of-NATO-commander-in-Iraq-regarding-increasing-troops-in-Iraq Al-Araji denies the claims of NATO commander in Iraq regarding increasing troops in Iraq
butterfly 2021-03-10 08:00 Shafaq News / The National Security Adviser, Qassem Al-Araji, denied the NATO Commander’s statements in Iraq, General Pierre Olsen, who claimed that al-Araji requested increasing NATO troops in Iraq.
Al-Araji’s office said in a statement that the latter received the Secretary-General for the United Nations Assistance Mission for Iraq, Jeanine Hennis-Plasschaert, where they discussed ways to enhance cooperation between Iraq and the UN mission.”
Al-Araji said, “the government respects the Iraqi Council of Representatives’ decision on foreign forces and is working to end this file in a way that guarantees the stability of the country.”
Furthermore, he reviewed with Hennis-Plasschaert, NATO’s work in Iraq, stressing, “the number of NATO mission personnel is 320, including experts, advisors, trainers, and employees only. The mission does not have security missions in Iraq.”
“The tasks of the NATO mission in Iraq are training and consulting only, and there is no decision or directive from the Iraqi government to increase their number or change their advisory functions. Any talk about increasing the of NATO personnel in Iraq is unfounded.”
In an interview on Tuesday, NATO commander in Iraq, General Pierre Olsen, said that the Iraqi National Security Adviser, Qassem Al-Araji, submitted a formal request to increase the number of NATO troops in Iraq.
NATO Secretary-General, Jens Stoltenberg, said on February 18, that the alliance will expand its training mission in Iraq from 500 to around 4,000 personnel.
Dave butterfly UN have to out source troops to Iraq through NATO? Thought UN had its own troops
Sheila Iraqi Dinar Guru Opinions, 3-9-2021 — https://www.youtube.com/watch?v=p5poJZ3LE1A
Sheila This looks so interesting, thought I would post this again: https://nicksintel.wordpress.com/2021/03/09/03-09-2021-corrected-update/
Zig sheila : I rarely comment about that kind of stuff any longer…but IMO all that stuff is nonsense….to put it “kindly”….lol….
sheila Zig well, I have two-three degrees of separation from other people exchanging for SKR’s, then I tend to give this type of posting a bit more credence. gives me hope galore.
Sheila Zig this is recent information
Dave sheila IQD 16.00 only some be RICH…..only wish i got an 800 number…….and signed up to get a designated tier…..
Sheila Dave Coming to a Theater Near You … this weekend, maybe???
Dave hope so……
Sheila Dave Thinking those numbers equate to whale that leveraged currency for a Platform?
Dave Thinking those Gurus may get it right one day…..
Dave TIERS………been a awhile………not a whale just a lil fishy
Sheila Dave Within a Platform, everyone becomes vital to leverage, collateral.
Dave Platform…..? geeze missed that boat…arrg
Sheila Dave It is my opinion and mine alone, that I personally grateful for the many gurus committing time and efforts to sharing their research and opinions. They have allowed me to go do other tasks while I check in with them during the day. They are not responsible for my happiness. And they are not responsible for when the RV will be launched.
Dave Non Gurus commit time too……
Sheila Dave Yes, we do… Thank you for any information you care to share. All of it helps get us through the waiting — which is the hardest part… And thanks to Tom Petty & The Heartbreakers!
Sheila later… got to go do some work. back soon.
Dave think i could figure this out by now!