KTFA:

Don961:  FROM 2 MONTHS AGO IN MARCH ...

Experts of the Central Bank of Iraq: the suspension of cash transactions due to corona is not applicable for this reason

Gilgamesh Press / Baghdad 

Economists in Iraq described the call of the Central Bank of Iraq to stop the cash deal to prevent the spread of the Corona virus as not applicable at the present time, because Iraq does not have electronic payment tools.

The economist Abdul-Rahman Al-Mashhadani said in a statement followed by "Gilgamesh Press" that "the call of the central bank to stop the cash deal is an ambitious but early step because Iraq does not have electronic payment tools that are supposed to be selling points in the shops", noting that despite the Council's call The ministers for more than two years, but they were limited to some shops in Baghdad, noting that the societal culture towards banking work is still weak in the country

Al-Mashhadani added: "These calls have a great impact on the market, but so far the government and the impact on the market will be natural because the citizens will be dealing in banknotes because there is no electronic payment"

Today, Thursday, the Central Bank of Iraq called on the Iraqis to stop dealing in cash, in order to preserve public health and avoid the transmission of the new Corona virus

A statement issued by the bank’s media office said, “It coincided with what our dear country is going through, and as a result of the Central Bank’s follow-up to international reports that warn of the ability of banknotes to be a carrier medium for viruses, this bank invites merchants and citizens to deal with electronic payment tools (cards) , Points of sale, mobile wallets) and avoid dealing in cash for public health   LINK  

MilitiaMan:  Good reminder and good timing, thank you for your hard work!

The process is and has been under way for a good amount of time to convert over to a digital platform. There are signs the CBI is and also has been in recent days working to adjust their platform to roll out the new digital world that will be cash-less than ever before..

With a significant change being noted to the ISX Indice that has not yet to date been redacted nor imo will it, should give us a good indicator the recent changes or modifications we see on going from the CBI site going up and down of late that change is about to be upon us.

Going digital is the new way, a transparent way and faster and safer way to do and track good and services. Yes, your attention to this is well placed!! Good job! ~ MM 

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Samson: Parliamentary Planning: Misconduct by Abdel-Mahdi, behind the late retirement salaries

12:30 - 09/05/2020
Member of the Planning and Follow-up Committee of the Government, Muhammad Al-Baldawi, ruled on Saturday that she was behind the delay in paying the salaries of retirees, any political game, considering that it was a misbehavior by former Prime Minister Adel Abdul-Mahdi.

Al-Baldawi said in a statement to “Al-Maalouma”, “Everyone in the government and parliament refuses to prejudice the salaries of retirees, whether delay, deduction or otherwise.” Noting that “the delay was the result of mismanagement from former Prime Minister Adel Abdul-Mahdi when he directed the Ministry of Finance to stop All financial transfers, which led to stopping the payment of pensioners’ salaries.

Al-Baldawi added that “the Prime Minister and the First Deputy Speaker of Parliament are quick to remedy the problem and it will be solved very soon and will not be prolonged until tomorrow, Sunday.” He pointed out that "Prime Minister Mustafa Al-Kazemi may issue a decision to cancel the directive of the former prime minister regarding stopping transfers or excluding retirees from that directive."   LINK

MilitiaMan:  If we take note we can see the pressure mounting and if they are going to go digital and have the platform to do so ready behind the scenes we may be in for a very big surprise. The salaries need to get paid and the demonstrations suggest the heat is on and the heat is going to increase too! They suggest they payments will not be prolonged past or to tomorrow. If that is an indicator or not is sure looks like one!! ~ MM

The Patriotic Kurdistan: demonstrations in the region are evidence of the failure of the plans of the Barzani government   LINK

Samson:  Decisions of the first session of the Council of Ministers headed by Al-Kazemi 

05/9/2020 17:16:33

The Council of Ministers held its first regular session, today, Saturday, May 9, 2020, headed by Prime Minister Mustafa Al-Kazemi.

A statement issued by his office, which was received by {Al Furat News}, stated that "at the beginning of the session, the Prime Minister welcomed the members of the government, calling for serious work in the service of their people." "The value of our work is achieving success in the difficult situation and turning the crisis into an opportunity and hope," Al-Kazemi said.

On the issue of the elections, Al-Kazemi stressed that "one of the priorities of this government is to secure safe and sound conditions for the conduct of the elections, and we support the work of the Independent High Electoral Commission, which is a true partner of the government to reach fair and fair elections."

"The cabinet also discussed its working mechanisms, economic and health conditions, and issues prepared for its agenda, and the cabinet approved the following decisions: -

First: Empowering the Prime Minister and the Minister of Finance to release the salaries of retirees.

Second: Revoking the previous Cabinet Resolution No. (97) for the year 2020 on the subject of stopping the financing, in addition to approving the draft domestic and foreign borrowing law to finance the fiscal deficit for the year 2020 and referring it to the House of Representatives in accordance with the provisions of constitutional articles.

Third: The Ministry of Transport and Culture to renegotiate with hotel managers for the purpose of reducing room rates in hotels, and the food rests with the Ministry of Health to accommodate returnees from abroad for the purpose of booking them in those hotels.

Fourth: Requesting the House of Representatives to complete the vote on the new election law and send it to the Presidency of the Republic for the purpose of bringing it into effect after its publication in the Official Gazette.

Fifth: Providing logistical support and providing all the capabilities available to the Independent High Electoral Commission to enable it to hold elections after fixing their date.

Sixth: The ministries and entities not affiliated with the Ministry of Cooperation with the Independent High Electoral Commission by providing human staff to carry out the electoral process.

Seventh: Amending the Law on Parties to lead to the regulation of the legal status of parties’ work on democratic national foundations that guarantee political pluralism and democratic transformation.

LINK

MilitiaMan:  The new PM is focused just like we talked about yesterday. Look at item #1. Salaries. #2 Borrowing Law and #3 is adjusting pricing.. Now if I didn’t know better, digital adjustments can be done quickly and efficiently for items #1-3.. as for the borrowing law I am curious if that is to allow the country if qualified to be SDR qualified. They sure are not now. Will they be once  they go digital? Imo They will be!! Pricing will need to be adjusted accordingly to and from the looks of it they are expecting a flight to home from citizens abroad!! Looking so very good these days! Imo ~ MM 

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Samson:  With the money from surplus currency reserves, the industry is building up trade markets and museums of culture for Iraqis to work

9th May, 2020

Dear Prime Minister Mustafa Al-Kazemi, this article is based on an integrated idea about the possibility of investing the surplus of the Central Bank of Iraq from ((gold and currency reserves that amount to (81) billion dollars), as what the Iraqi currency needs as a reserve is the amount of (52) billion dollars.

According to a rule (130%) of the total issued cash, which must be equivalent to gold and foreign currencies, and since the total issued cash in Iraq is (48) trillion Iraqi dinars, which is equivalent to (40 billion dollars x 130% = 52 billion dollars), which creates a surplus of (29) One billion dollars, which allows the investment of approximately (25) billion dollars in reserves, which are unnecessary in maintaining the values The Iraqi currency)). 

It is worth noting that many countries hold a balance of gold and currencies equal to or less than the value of the currency, and it is a country that maintains its currency in its stable value due to the base of an increase of 30% mainly from the amount of cash issued.
 
The Iraqi government can gradually transfer these amounts to:

The ages and renovations of the Iraqi Ministry of Industry companies, which number approximately (78), are a major company, each company owns several branches with hundreds of warehouses spread in Iraq, and authorization of construction and construction companies, including the task of building and reconstructing the Iraqi central markets, amounting to (72) central markets in Iraq, as well as reconstruction ( 68)  A ruined palace of the former regime and turning it into museums for a dark era in the history of Iraq (such as museums of the neighboring countries that belong to the previous eras of these countries), which will achieve high profits for the Iraqi state, and authorize other industry companies (textiles - oils - food - electrical appliances - and other companies) Ministry of Industry Proof) launched its products Iraqi central markets after building them and opened, and the Iraqi people will meet the call of generations to support the national producer of these markets. 

It is worth noting that a contract was concluded during the last period with the investment of five central markets, namely (the people, the authority, the worker, justice and Al-Mustansiriya) for the investing company after signing the investment contracts with it and obtaining the licenses of the National Investment Commission. 

And that "the investment period for each site is (30) years and in the system of modern malls," but no reconstruction process has started so far in these sites. The Iraqi government can invest the remaining central markets before selling them to other investors.

With this safe investment in (industry, trade and culture), the Iraqi state will once again have the reins of the diversified Iraqi economy that provides work to more than (a million) new job degrees funded by the profits of industry, trade and culture, in addition to that the state budget will get rid of the weight of the salaries of approximately (500) One thousand employees at the Ministry of Industry and Trade receive current grants without success from their jobs. 

And the duration of this project in the event that the real will to work is available, it does not exceed 3 years as a maximum .. It is a safe investment that is not feared and is almost equal to its security. Keeping money in the Central Bank of Iraq to no avail and letting Iraqis without work.    LINK

MilitiaMan:  Notice they have been working on this.. They know they will have plenty of money and they know it is time to release it and get the re construction up and running. Yesterday there was talk of the Kuwait Conference agreements are again on the table. Watch Al - Kazemi bridge the gap.. The man has hit the ground running..  imo ~ MM

GodLover:  I would like the opinions from MM & 2cents please & thank you.

As we all know, EO 13303 expires on May 20th.
If EO 13303 is not renewed... how does that effect our investment?
Executive Order 13303 also terminates sanctions specified in EO 12722, EO 12724, EO 13290, as it applies to the development fund.
EO 12724 relates to our investment in holding their currency imo. 
It seems kind of odd to me how the law was written imo. The EO 13303 is legal protection for the DFI for rebuilding Iraq. 
Since EO 13303 terminates EO 12724.... would EO 13303 really even need to be renewed as far as our holding their currency is concerned?  

MilitiaMan:  I read they signed it on a May 22nd, but, close enough..

If it is not renewed Iraq would lose protection from creditors and that could be a bad thing. 

As for them allowing this to get that far to lose protection for us? I don't think for a minute there will be any worry about that, as the UST has a vested interest as we do.

Today, I see Al-Kazemi has passed a law that allows for internal and external borrowing.. That suggests he has a way to pay off debts and that is where it gets good for us.. I still think that is related to the huge article from the IMF and World Bank talking about other currencies getting into the SDR basket, as the time would be now per the article. imo..

So, they'll need to have finances all sorted before they have the need to extend 13303 again. imo  So, I am not worried about it being an issue.. ~ MM

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Don961:   Economic problems require supporting productive investments

Friday 08 May 2020Baghdad / Hussein Thagab 

 The voices calling for supporting investment and creating an ideal environment attractive to the effort to enter the Iraqi labor market are increasing, as investment is the most important entry point for the economic problems that the country suffers from, which requires the cooperation of all concerned parties to make the country a kiss for local, regional and international capital and employ them towards a direction that serves sustainable development.

The economist, Thamer Al-Heims, said that "the stage requires that efforts go towards creating an ideal investment environment that promotes the economy, addresses its problems, and achieves financial returns for the general federal budget," stressing that "the investment portal represents urgent solutions to the declining economic performance in the country for all its sectors, productivity and service."

Approved projects

Al-Heims warned that "there are investment projects that have been licensed for years but the intersections and the lack of vacating the place caused a delay in their implementation, including in Baghdad and several other places, for example an investment project in the central Tuesday market, which is expected to develop into a large commercial center that achieves many benefits." For the country, as it provides job opportunities for a large number of the workforce in the qualification stages and beyond, and it is also a national center for displaying locally manufactured products, and this is important to support the national industry and agriculture, as well as providing the state budget with large sums of money during one month, but this project Need To coordinate with the Ministry of Interior, which occupies a part of it for the purpose of executing handed over to the company. "

Productive projects

He added that "this mentioned project is one of several projects that can absorb unemployment and benefit the federal budget, and when it provides support to the investment sector, we will find productive projects in various sectors and other services", pointing out that "the field of work in Iraq is large and wide and absorbs the local and regional effort"

And the international, as Iraq is characterized by the presence of great wealth and a privileged location on the globe that provides renewed job opportunities and this is almost unique to the country.

Local voltage

Heims pointed out that "the local and international effort is waiting for the appropriate opportunities to enter the local labor market, due to the country's need for projects in all regions, as well as for investment in industry, agriculture and tourism, and these sectors are able to transfer the national economy to a new stage, and here we need the national administration that All efforts are harnessed to promote investment and make Iraq a kiss for all investments, "and" the investment portal represents urgent solutions to the declining economic performance in the country in all its sectors, productivity and service. "

Investment market

And the expert in the investment affairs, Qassem Al-Bahdali, had stressed that "the Iraqi economy must move to a new work stage, as the reality requires moving the investment market in Iraq to reduce the aggravation of the economic problems that Iraq suffers from and that can only be overcome through the portal of investment investments that bring benefit to Iraq." ".

He added that "activating the investment is not a complicated matter, but rather it needs to have the will to achieve that." He pointed out that "the investment is characterized by the freedom to transfer funds across the countries of the world and can be settled in any place that has the appropriate conditions, and that foreign capitals enter Iraq and employ them to serve the sectors." Productivity".

Al-Bahadly stressed "the importance of the state entering in certain proportions in speaking investment projects that achieve an integrated economic feasibility without delay and reserves the project to the central bank and here it realizes resources to the general budget and the investor and in the long term and uses the investments to be a financial supporter of the budget in the Remote term . "   LINK

MilitiaMan:  Well well well..  They have to raise the value to do this.. The Borrowing law is passed. Al-Kazemi has bridged that gap.. imo.. Watch for it.. lol ~ MM.

"ACTIVATING THE INVESTMENT IS NOT COMPLICATED" "THE INVESTMENT IS CHARACTERIZED BY FREEDOM TO TRANSFER FUNDS ACROSS THE COUNTRIES OF THE WORLD AND CAN BE SETTLED IN ANY PLACE THAT HAS THE APPROPRIATE CONDITION, AND THAT FOREIGN CAPITAL ENTER IRAQ AND EMPLOY THEM TO SERVE THE SECTORS."