KTFA Friday Night CC: FRANK26….5-10-24…..ITS BEEN RIGHT IN FRONT OF YOUR FACE

KTFA

Friday Night Conference Call

FRANK26….5-10-24…..ITS BEEN RIGHT IN FRONT OF YOUR FACE

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

https://www.youtube.com/watch?v=ECpyWjcDxc4

KTFA Members “News and Views” Friday 5-10-2024

KTFA:

Clare: Urgent... The House of Representatives extends its legislative term by 30 days

5/9/2024

 The Presidency of the House of Representatives decided to extend the current legislative term for a period of 30 days

 The Parliamentary Finance Committee had previously expected an extension of the legislative term with the imminent arrival of the budget schedules to the House of Representatives.

There is also a political movement to elect a new speaker of the House of Representatives, which requires the continuation of Parliament's work.   LINK

DCDriver:  Don’t recall them ever extending sessions for that long IMO. Interesting

DeepWoodz:  I for one am glad for this news. Authority or not, they need to play their part. Iraq is all out of excuses for not releasing a “worth more than a dollar” rate. They have been making fools of all the gurus up to this point. We all know this should have been finished years ago. 

DMcCall:  Many felt disappointment about the lack of confirmation regarding the status of Iraq's WTO membership. I too felt some frustration.

I felt May 9th had some value. I tried to find reliable information but drew a blank.

 I personally felt that a lack of information didn't change what Frank told us some time back, and told us tonight. The requirements were met, period. The rate doesn't have to be exposed to receive all the advantages of being a member.

As many reasons there are to make the change right now, there are reasons that this is taking this time frame.

They are at a crossroads in time. And quite frankly, they can go in any direction. Their citizens are ready to enjoy what they see the UAE is enjoying. They want to enjoy what Saudi Arabia is enjoying, and others.

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Clare:  {Al-Furat News} publishes the text of Al-Sudani’s request to Guterres to end UNAMI’s work in Iraq

5/10/2024

the request of the Prime Minister, Muhammad Shiaa Al-Sudani, to the Secretary-General of the United Nations, Antonio Guterres, to permanently end the work of the United Nations mission in Iraq. 

 "the justifications for the presence of a political mission in Iraq are no longer available, especially after more than 20 years have passed since the democratic transition and overcoming great and diverse challenges."  LINK

Deep Woodz:  I don’t know about y’all but I’m loving this! First Plaschart and now Guterres. LEAVE ALREADY!

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Clare:  Floating the dinar" returns to the forefront.. Will the Central Bank of Iraq resort to it and what are its risks?

5/9/2024

From time to time, calls for floating the Iraqi dinar float on the surface of the Iraqi financial market, in order to bridge the gap between the prices of the dinar and the dollar, and these calls meet every time they return to the forefront, with supporters who see it as saving the Iraqi economy, and opponents who see it as the most dangerous stage that Iraq will pass through because of its Of risks to his economy.

Floating currencies is known as liberating the exchange rate of the currency, so that it becomes completely liberated, so the government or central banks do not interfere in determining its value directly, but rather it is automatically sorted into the currency market through the supply and demand mechanism that allows determining the exchange rate of the national currency against foreign currencies. 

Critical vision

Financial expert Safwan Qusay said in an interview with Al-Ahed News, “The Central Bank of Iraq adopted a fixed price policy, that is, so that every dollar became equal to 1,320 dinars, and there are calls to release the price and not fix it at a specific rate. This means that demand and supply are what determine the exchange price.” ".

He added that "the measure, in light of the absence of economic diversification, will harm the Iraqi market and will reflect negatively on economic stability," noting the necessity of "diversifying the economy first and then liberalizing the fixed price later and providing a basket of different currencies for the exports of different countries."

Qusay stated, “We can have a price that is proportional to export, supply, demand, need, processing, and consumption, as such measures are far from the Iraqi economy,” considering that “activating flotation will create a market of speculation that cannot be controlled.”

In turn, financial expert Saif Al-Halafi saw the necessity of “supporting the Iraqi dinar instead of floating, but in a way closer to the language of floating.”

He explained in an interview with Al-Ahed News, “There is a possibility for the central bank to follow the same mechanisms as the American Federal Bank. Strengthening the dollar in the market is determined by the American Federal Reserve, and it depends on the market mechanisms of supply and demand.

Therefore, the Central Bank of Iraq and its law allow the strengthening of the dinar, because Monetary policy is under his authority and he is responsible for the value of the dinar against the dollar.”

Al-Halafi notes, “Raising the value of the dinar against the dollar will put the government before another test, which is raising the value of the dinar again to protect the citizen from rising prices,” adding, “This incident occurred when Iraq fixed the price of the dollar at 1,320 dinars, and it was compensated by the export of goods in a manner Huge waves from neighboring countries to Iraq, and the government and the central bank took responsibility for controlling the dollar.”

He points out the possibility that “there will be two exchange rates for the dollar against the dinar and it will change according to the actual need of the daily situation,” explaining that “the Iraqi market has two exchange rates, the first at the central bank, which is 1,320 dinars to the dollar, while the second price is the market price or the parallel price.”

He shows that “all attempts carried out by the Central Bank and the government to control and curb the parallel price have failed, and that this price emerged due to the geopolitical challenges surrounding Iraq, and the distancing of importing merchants from Iran, Syria, Russia, and other countries subject to sanctions from America, who cannot enter their goods through Transfers and credits.

Al-Halafi confirms that “raising the value of the dinar will have an advantage, as it will provide a large labor market in Iraq due to the price difference, so raising the value of the dinar’s price against the dollar, even if only slightly, will protect Iraqi workers,” pointing to “the possibility of the influx of large foreign workers due to the size of the projects.” in which the government will work.

Crazy risks

For his part, researcher in financial affairs, Nabil Al-Marsoumi, believes that “the decision to float the dinar has some economic positives, but the economy should not be taken in its abstract aspect, but rather insofar as it relates to people, especially the poor.”

The decree says in a Facebook post, “In light of Iraq’s lack of a national private sector that can contribute to increasing the supply of dollars in the market and because of the huge volume of imports, which reach 67 billion dollars annually, the only party that owns the dollar is the government.”

He adds: "If the government decides not to interfere in the exchange market, it is expected that the dinar will witness a violent collapse and rampant inflation that will cause prices to rise to insane levels that will cause severe damage to citizens' living standards. The poor will become more miserable and will later lead to social tensions and a major rift in the social peace."

Previous experiences

In this regard, financial expert Manar Al-Obaidi points out, “The experience of floating the currency was successful in one of the Arab countries and supported its economy positively.”

He added in an interview with Al-Ahed News, “In 2018, Morocco adopted a new monetary policy represented by what is known as the managed float policy. This policy is a combination between the fixed rate policy and the floating rate policy, through which central banks set minimum and upper limits for movement by determining the exchange rate against... currency or a group of foreign currencies, and one of these banks was the Central Bank of Morocco.”

Al-Obaidi explains, “The managed float policy aims to gradually liberalize the currency until complete liberalization of the exchange rate is achieved.

Indeed, the Central Bank of Morocco has begun to set a fluctuation range, which is known as the margin of rise or fall in the exchange rate, which initially reached 0.3%, meaning that the Central Bank is allowed to rise above the specified exchange rate.”

By 0.3% or decreasing according to supply and demand until it reached a fluctuation range of 5% in March 2020, and this policy was accompanied by a support policy represented in canceling customs tariffs on some basic materials such as food and supporting funds that support vulnerable classes.”

Al-Obaidi believes that “this policy may be a successful alternative in Iraq by following a managed float policy that controls the range of volatility and works to gradually increase it until the currency is completely liberalized,” noting that “there is no study linking inflation rates to the exchange rate.” In the parallel market, the best way to know the effect is through a deliberate experiment with a managed float of the exchange rate.”

Government advice 

The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Saleh, had previously explained the danger of the exchange rate becoming unstable if the demands to float the dinar were achieved.

 Saleh said in a statement followed by Al-Ahed News, “Calls for floating the dinar to end the gap between the official exchange rate and the parallel market may be possible in an economy in which the free market alone influences the movement of the balance of payments, and not in an economy in which the rentier government sector is dominant and generates currency reserves.”

Foreign currency, as the monetary authority alone is the main source of supply of foreign currency that meets the desired demand for foreign exchange in the money market, to provide stability in this market and achieve a desired and homogeneous exchange rate through the interventionist role played by monetary policy.

He added, "Claims for flotation mean in all cases adopting the prevailing exchange rate in the parallel market to achieve the goal of stability and balance in the official exchange rate itself at a new point reached by the market at the end of the supposed flotation policy and returning to stability again.

Also, the flotation scenario means in all cases the withdrawal of the authority." Cash from being an essential central supply of foreign currency, to be replaced by new forces supplying foreign currency from free market makers, which only have a weak, limited supply of foreign exchange, and at the same time they carry an uncontrolled package of inflationary expectations and are called in economic literature the forces generating expectations. Inflationary

He continued, "The hypothetical new supply forces for foreign exchange adopted by the exchange market in that scenario will mean the dominance of supply forces from speculators with very limited quantities of foreign exchange available for supply in the parallel market

Matched by an open demand for foreign currency on the part of the market that undoubtedly exceeds that limited parallel supply." of foreign exchange, perhaps by more than 10 times at least in our estimation, and such a policy of floating to achieve a homogeneous equilibrium exchange rate would be an open and perhaps unruly situation, as long as the central government supply of foreign currency would be absent from the market

And we would not then obtain any equilibrium point in the exchange rate. An exchange rate that is sought to float except with a widespread deterioration of the exchange rate as long as it is controlled by forces that generate inflationary expectations, as we noted in a highly unilateral rentier economy, and it is an exchange rate whose mechanisms will move in a market that is incomplete in terms of productivity in compensating it for the required supply of goods and services.

Saleh warned, “Then no one knows how much the new exchange rate resulting from the flotation will be, which will undoubtedly be accompanied by a prior wave of inflationary expectations, which is a dangerous wave whose directions are difficult to control, which may force monetary policy according to this floating scenario by intervening in foreign reserves.”

 It is an unjustified extravagance in foreign exchange to impose a state of stability in the general level of prices again just to adopt it when exchange rates reach low rates, and no one knows how much they will reach.”  LINK

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Deep Woodz:  Talking about the float again. Frank must be right. That’s what’s coming or these guys wouldn’t be putting their two cents in. Some of what they say is true, some not.
Even Saleh commenting on not knowing where it will end is a load of crap. The CBI can start/stop, change, maneuver the rate any way they like at any time. Frank has mentioned a cap many times. OF COURSE they can do whatever they want! They are a sovereign country again. Pretending like they have no control. Gets on my nerves. 

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Paulette: IMO.....it is great to see more articles regarding the "Float"......I strongly believe this is the early stages of the last push by the CBI to educate the Citizens prior to implementing the "Delete the Zeros" project.....Patience all.....this is slowly coming together.......

Clare:  WHO HAS BEEN TELLING US ABOUT A MANAGED FLOAT !!!    WALKINGSTICK & FRANK.... WAY BEFORE THEY EVEN TALKED ABOUT IT IN THE ARTICLES imo

Al-Obaidi believes that “this policy may be a successful alternative in Iraq by following a managed float policy that controls the range of volatility and works to gradually increase it until the currency is completely liberalized,” noting that “there is no study linking inflation rates to the exchange rate.” In the parallel market, the best way to know the effect is through a deliberate experiment with a managed float of the exchange rate.”

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Clare: Post #32:  The dollar is reeling from a fatal blow and there are fears of a collapse of the dinar LINK

UNDERSTAND POST #32 IS DIFFERENT OPINIONS.......

"Deputy Chairman of the Parliamentary Finance Committee, Ahmed Mazhar Al-Janabi, said {to Al-Furat News} that “the Central Bank’s decision to cancel the currency auction at the end of the year will open space for exploitation and a problem will occur. If the auction is canceled and ends, the exchange rate in the markets may double, and if the Central Bank goes towards this option, the dollar exchange will "It will reach 200 thousand dinars," according to his opinion."       

 FROM PARLIAMENT - THIS IS NOT GOING TO HAPPEN!! THEY DON'T KNOW AS MUCH AS SUDANI, ALAQ & SALEH DO! 

"The Central Bank of Iraq's cancellation of the currency {auction} window at the end of 2024" 

WE KNOW THIS ... SUDANI & ALAQ HAVE ALREADY AGREED WITH DC ON THIS! IT IS TRUE

Saleh stated, “As for the developments taking place in the gold commodity market or gold filigree, especially the sudden price developments therein, up and down, they are not considered an alternative directly affecting the improvement of the exchange rate because they are limited in impact and impact on the movements of the parallel exchange market, and that the main gold trade is financed as foreign trade through Transfers from the banking system and the official exchange market.

THEY (ARE) AND WILL BE ASSET BACKED....  WILL FLOAT AND THERE WILL BE A MANAGED CAP... LIKE WS & FRANK HAVE BEEN TELLING US IN THEIR OPINION..   IMO

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Cal and LQ: I could be 100% wrong, partially correct or totally right, but IMO this reads like a final announcement or precursor if you will, to what many are expecting. It’s like they are explaining what’s about to happen. WS told Frank who told us they will put out a slew of detailed information to the citizens and again IMO this reads like a precursor to that information. Just my two cents. I’d love to hear your positive thoughts/perspectives if anyone care to share. Also, thanks for sharing your thoughts Clare. I find it insightful. 

Anyway, wishing you ALL a great day! 

KTFA Thurs. Night CC: “FRANK26….5-9-24……..WHAT ABOUT THE WTO?”

KTFA

Thursday Night Conference Call

FRANK26….5-9-24……..WHAT ABOUT THE WTO?

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

https://www.youtube.com/watch?v=hvkkSrWYdjo

Some “Thursday News” Posted by Clare at KTFA 5-9-2024

KTFA:

Clare:  The House of Representatives adjourns its session

5/9/2024  Baghdad

Today, Thursday (May 9, 2024), the House of Representatives adjourned its 24th session, chaired by Al-Mandalawi and attended by 170 delegates.

The Council's Media Department stated in a statement, received by "Baghdad Today", that "First Deputy Speaker of Parliament Mohsen Al-Mandalawi adjourned the work of Session No. 24 of the fifth electoral session of the third legislative year/first legislative term, in the presence of 170 deputies."

The session culminated in a vote on the Iraqi National Security Law, in addition to a report and discussion of other laws, according to a previous statement.

He also completed the report and discussion of the draft law to return real estate to its owners, which is covered by some decisions of the (defunct) Revolutionary Command Council, in addition to completing the first reading of the law on the second amendment to the Independent High Electoral Commission Law No. (31) of 2019.    LINK

Suzie:  I can only assume by the "loud" silence, that nothing happened today with the WTO,  just IMO

Margarita:  a quick google search of iraq wto found this-

Will Iraq join the WTO?

 ABU DHABI, 27th February, 2024 (WAM) -- Atheer Daoud Al Ghurairi, Minister of Commerce of Iraq, has confirmed that Iraq has completed the requirements to join the World Trade Organisation (WTO) after completing economic reforms and improving the business environment.Feb 27, 2024

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Clare:  Erbil receives the 27th branch of the International Development Bank

5/9/2024

The International Development Bank announced on Tuesday the opening of its new branch in the city of Erbil in the Kurdistan Region, which is the twenty-seventh branch in the country. 

In his speech during the opening ceremony, the bank’s authorized director, Saad Faiq, said, “The opening of our new branch in Erbil reflects our commitment to providing innovative and advanced financial services that meet the needs of our customers,” noting that “this opening is part of our strategy to enhance the presence in vital areas and support development.” economic in Iraq.

Faeq praised what he called "the vital role played by the Central Bank of Iraq in supporting the bank's endeavors, which enables it to provide advanced financial solutions and enhance confidence between the bank and its customers."  

For his part, Director of the Marketing, Sales and Product Development Department, Wissam Al-Amri, said that this opening confirms the International Development Bank’s commitment to continuing innovation and development in the financial services sector, aiming to achieve excellence in performance and striving to fulfill the aspirations and needs of its customers everywhere.

The International Development Bank has the largest ATM network in Iraq, with 400 ATMs, 5,000 direct points of sale (POS) in all Iraqi governorates, and 7,000 POC outlets.

According to him, the bank has thus acquired a large market share in Iraq from the total commercial financing and comprehensive banking operations. 

He has significant and continuous contributions to supporting SMEs (medium, small and large companies), by financing a large number of huge projects in various economic sectors and granting loans and credit facilities. 

Its management says that the bank today has a wide network of correspondent banks around the world and in more than 20 countries, which supports commercial financing operations and foreign transfers for the bank’s customers.   LINK

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Clare:  Sudanese announces the signing of an agreement with Japan to finance small and medium enterprises in Iraq

5/9/2024  Baghdad

Prime Minister Muhammad Shiaa Al-Sudani announced today, Thursday, the signing of a financing agreement with Japan to finance small and medium enterprises in Iraq.

This came in a speech conveyed by his media office on the sidelines of his visit to Babil Governorate and the inauguration of a number of projects there.

Al-Sudani pointed out, in his speech, that this development is a success story in the private sector, stressing the unlimited support from the government.

For the sake of more job opportunities, as it currently accommodates approximately 4,000 opportunities within the company’s activities, in addition to increasing production and providing its surplus in the future for export outside Iraq.

The Prime Minister called on businessmen and private sector companies to take advantage of the investment opportunities offered and the sovereign guarantees provided by the state through the three-year budget law.

Al-Sudani announced the signing of an agreement with Japan to finance small and medium enterprises, amounting to $300 million, which will contribute to revitalizing and establishing the national industry.  LINK

Clare:  The Association of Private Banks counts the percentage of shares traded on the stock market during a month 

5/9/2024 Baghdad

The representative of the Iraqi Banks Association, Ali Tariq, confirmed today, Thursday, that the Iraqi stock market relies heavily on the banking sector, while he counted the value of banking shares traded during the month of last April.

Tariq said, during a dialogue session, on the twentieth anniversary of the founding of the Securities Commission, under the slogan (The Importance of the Financial Services Sector in Supporting the Iraqi Economy) and attended by the “Al-Iqtisad News” correspondent, that “the profitability of private sector companies is the first motivator for every investor, and the strength of the market and the growing movement Trading comes from companies' profitability and revenues."

He added, "The market relies heavily on the banking sector, which traded during last April 17.6 billion shares out of 21.6 billion shares in the entire market, which constitutes 81% of the total trading in the month." 

He explained that "the banking sector is considered the most important in the stock market," pointing out that "the citizen is able to use the mobile phone to trade and view share prices, and the need to focus on reaching the citizen at his home and workplace."

Tariq stated, “All private banks are listed in the Iraq Stock Exchange according to the instructions of the Central Bank of Iraq,” stressing that “preventing some banks from dealing in dollars directly affected the market and the prices of their contributions in the market.”LINK

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Clare:  Government Advisor: The Securities Commission represents the governance base for promoting financial market reform

 5/9/2024  Baghdad

Today, Thursday, Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, summarized the importance of the Securities Commission and its tasks, while noting that the Commission represents the governance base in promoting financial market reform, and is responsible for supervising the correct rules in the Iraqi market.

Saleh said, in his speech during the twentieth anniversary of the founding of the Securities Commission, under the slogan (The Importance of the Financial Services Sector in Supporting the Iraqi Economy), “In the name of Prime Minister Muhammad Shiaa Al-Sudani, we extend to the Securities Commission, its Chairman and its staff, our warmest congratulations on the occasion of the twentieth anniversary of the founding of this edifice.” The important financial supervisory authority that assumed the duties of regulating the Iraqi Stock Exchange securities, which is the basis for ensuring high, stable, organized and growing financial markets through the application of regulations designed to protect the rights of users and maintain the integrity of the financial market.

He added, "The Securities Commission, with its regulatory, supervisory, and auditing apparatus, constitutes the central body responsible for supervising the correct rules, monitoring irregular activities, and investigating market violations."

He continued: “The Securities Commission also represents the governance base in promoting transparency and reform in the work of the financial market, and the important role of the Securities Commission is evident in regulating broker-dealers and other market participants by supervising the depository center and updating the data of persons associated with brokerage companies.”

He added: “There is no secret of the important role played by the Securities Commission in coordination with international securities organizations and bodies, especially in adopting standards in the field of strengthening the efficiency of financial markets and communicating with international organizations related to financial markets, which has strengthened the role of the Securities Commission and the Iraqi Stock Exchange.”

 Finance in preparing Iraq for the World Trade Organization, which is the international organization that essentially emerged from the system of financial globalization, as the trade in financial services became an integral part of global trade.   LINK

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Clare: Al-Sudani launches a package of new service projects in Babylon

5/9/2024

Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani launched a package of new service projects in Babil Governorate worth (1,276,740,000,000) dinars.

Al-Sudani’s media office said in a statement received by {Al-Furat News}, “Prime Minister Muhammad Shia’ al-Sudani, during his visit to Babil Governorate, today, launched a package of new service projects worth (1,276,740,000,000) dinars.”

He added, "The projects include:

-Integrated projects for sewage, sewage, and rainwater in (Al-Qasim, Al-Hashimiyeh, and Al-Madhatiya districts), with a total amount of (364,500,000,000) dinars.

-An integrated project for sewage, sewage and rainwater networks for Al-Kifl district, amounting to 134.2 billion dinars.

-A link road with the highway (Basra - Baghdad), via the Imam - Anana district - to Al-Ibrahimiya in the Hindiyah district, at a cost of 320 billion dinars.

-Management and operation of Imam al-Sadiq Hospital (peace be upon him), by a specialized foreign company for $60 million.

- Referring the large Hilla sewer project/second phase to implementation at a cost of $287 million.   LINK

KTFA Wed. Night CC: “FRANK26….5-8-24…….NEW EXCHANGE RATE TALKS”

KTFA

Wednesday Night Conference Call

FRANK26….5-8-24…….NEW EXCHANGE RATE TALKS

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

https://www.youtube.com/watch?v=Zzgz39EwUU0

KTFA Members “News and Views” Wednesday 5-8-2024

KTFA:

Clare:  Deficit” is the password.. Parliamentary Finance decodes the budget delay

5/7/2024  Baghdad

A member of the Parliamentary Finance Committee, Muhammad Nouri, revealed on Saturday that there was a large deficit within the 2024 budget, which obstructed sending its schedules to the House of Representatives for approval.

Nouri said in an interview followed by Mawazine News, “The delay in sending the budget schedules from the Council of Ministers to the House of Representatives for approval and then starting work on them is evidence of the existence of a large deficit within this budget, which has exceeded more than 80 trillion.”

He explained, “There is large government spending that accompanied the 2023 budget and continues until now, including paying the Kurdistan region’s dues and exceeding the original dues, and also the sanctions imposed by the US Treasury may have caused a weakness in revenues, which reflects negatively on the strength of the budget and the government’s ability to address this deficit.” “.

He continued, “There may be political reasons behind the delay in sending the budget, including the delay in choosing a new speaker for the House of Representatives, and that its delay may hinder the launch of some important and strategic projects.”

He stressed that “the government is currently looking for solutions to address this large deficit and the pressure on expenditures within this budget, as well as the pressure on actual spending to reach a deficit that can be worked on. Among these solutions is increasing the price of oil or maximizing other non-oil revenues.”   LINK

CalandDLQ:  At a rate of $1,320, that would be correct…you have a deficit. However, the new rate Sudani and Alak are ready to expose to us non-NDA holders is the solution…the ONLY SOLUTION

Suzie:  Just MY opinion,  that doggone Iraq, ever since we thought we were going to have the "best" Christmas ever, then January, February and March comes and goes, then in April Sudani swears to Allah to take care of his people and off to the US he goes to give us the new exchange rate and make sure all sanctions are gone,

Hopes up again he's going to do the right thing when coming back home, but not quite yet....have to deal with the budget, so far, no rate yet. 

Tomorrow they say full accession to the WTO quite possible although I just finished going thru the agenda and I didn't see where Iraq has completed everything they need to do...I'm human, coulda missed something, also a sovereign currency from a country, sovereign or not, is not needed to fully belong. 

I wish them GOOD LUCK tomorrow and hope all falls into place.  So, Sudani, what's next for the people and the rate to enhance their purchasing power and pay all these contracts being signed, just wonderin' big guy, just wonderin'………..IMO

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DMcCall:  This is really getting old!!!! On February 27, 2024, " IRAQ ANNOUNCES COMPLETION OF REQUIREMENTS TO JOIN THE WTO." As reported by Gulf News. So the time has come to stop talking about the WTO requirements! The article I viewed indicated that FULL members must have an international exchange rate, that is what makes the difference between an Observer country, and a Member country.

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DeepWoodz:  I took a peak. 

Dated May 3, 2024 Just a few days ago!

Working Party on the Accession of Iraq - Accession of Iraq - Initial tariff offer on goods

So this is the latest article listed on the WTO website. 

Im ignorant to the inner workings of the WTO but…I’m not a total idiot. I just wanna put that out there . 

We’ve all seen the article that said they have completed their accession chores. We also know the world is waiting. The above article is restricted so I can’t read it but it clearly says INITIAL TARIFF….This seems to signify they are done. They are in. They are now pricing export/import tariffs. Unless I’m reading it wrong. Highly probable….maybe not. 

Their Minister said point blank they were done like has been previously mentioned by others.  I have to agree. 

There was also an article where they were praised for completing 15 years of work in 1 year. 

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Clare:  A parliamentary understanding to extend the legislative term to approve the 2024 budget schedules

5/8/2024 Baghdad

Member of the Parliamentary Finance Committee, Ikhlas Al-Dulaimi, revealed today, Wednesday, that there is an understanding to extend the legislative term of Parliament to approve the 2024 budget schedules. 

Al-Dulaimi said, in an interview followed by Al-Iqtisad News, that “the current situation requires extending the current legislative term of the House of Representatives and postponing its recess for a month until the 2024 budget schedules are approved.” 

She added, "The Parliamentary Finance Committee is ready to receive the budget schedules and work on them as soon as they reach the House of Representatives."

She continued, "The current legislative term needs to be extended to complete many important legislations for the coming period, including the budget law schedules for the fiscal year 2024."LINK

Clare: The government approves the establishment of important projects, including an industrial city in Basra and a hospital in Baghdad

5/8/2024

Prime Minister Muhammad Shiaa Al-Sudani chaired, this afternoon, Wednesday, the seventh meeting of the Supreme Committee for Reconstruction and Investment, during which it approved important projects.

The meeting witnessed, according to a statement from the Prime Minister’s Office, a copy of which {Al-Furat News} received, “discussing a number of investment opportunities in Baghdad and the governorates, in various sectors, and proceeding with a package of important projects that contribute to revitalizing the economy and providing many job opportunities for young people.”

- Approval of the Taji gas station investment project

 - Approval of a project to establish a solar energy project in Babylon Governorate

-Electricity linkage project between Iraq and the Kingdom of Saudi Arabia.

- Establishing a mental health and addiction treatment hospital in the Ghazaliya area in the capital, Baghdad.

- Approval of a project to establish a 400-bed hospital, on a section of the land of Al-Rashid Camp in the capital, Baghdad.

Approval of the Toyota project, which includes the establishment of an integrated complex that includes units for manufacturing vehicle accessories, spare parts warehouses, a rubber and plastics recycling center, a training and qualification center for Iraqi labor cadres, a vehicle pre-delivery inspection center (PDI), and a vehicle storage center.

In the industrial sector, a project was approved to establish an industrial city in Basra Governorate for the production of iron and steel, in partnership with the General Iron and Steel Company, as well as a project to produce flat float glass, and a project to produce glass bottles and jars.   LINK

DeepWoodz:  Yeeaaa,,,,hard to invest without a REER. (Real Effective Exchange Rate)

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Clcare:  A Sudanese advisor explains the financial financing to implement the development path

5/8/2024

Mazhar Muhammad Saleh, financial advisor to the Prime Minister, Muhammad Shiaa al-Sudani, explained the financial financing for the implementation of the development road project, which starts from the southernmost point of Iraq to its northernmost point, with a length of 1,200 km.

Saleh told {Al-Furat News} agency, “The development road is one of the most important strategic economic projects that achieve regional and international economic integration of our country with the world, in addition to being one of the largest accelerators of integrated investment at the level of the national economy, in terms of sectoral interconnection in various aspects leading to generating opportunities.” Accelerated growth in gross domestic product and intense investment momentum.”

He added, "It is known that the estimated cost of the project is about 17 billion dollars, especially for the completion stages within our country, as announced a while ago, and that the contributions of the regional countries benefiting from it will undoubtedly contribute to the financing due to cross-border interconnectedness, and we look forward to finalizing the preparation of the financing model and the nature of the contributions." national, regional and international finances to implement it.”

Saleh noted, “The principle of partnership between the state and the private sector for industrial cities and logistics services linked to the development road allows for high flexibility for national contributions to projects linked to the development road, in addition to the government’s financing role.”

He stated, "In any case, the financing vision will become more clear when that model is announced, especially what is terminologically called the financial completion of this vital, strategic project for Iraq, which links the trade and investment economies of the North and South of the world."

He continued, "The financial completion tasks within the financing model indicate ways of flowing additional funds to the project, through which funds are collected from knowledgeable investors or attracting new investors, according to the financial model that will be adopted, as the financing completion is used to finance the project's growth stages, expand the scope of work in it, or to cover expenses." Additional fees will be determined according to what will be determined by the approved technical economic feasibility study for the project in all its stages upon its final announcement.”

Raghad Dahham  LINK

KTFA Tues. Night CC: “FRANK26….5-7-24…….WHEN I SAY SO”

KTFA

Tuesday Night Conference Call

FRANK26….5-7-24…….WHEN I SAY SO

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

https://www.youtube.com/watch?v=DdKsE7e3PH0

KTFA Members “News and Views” Tuesday 5-7-2024

KTFA:

Clare:  The Specifications Department of the Central Organization for Standardization and Quality Control obtains a quality certificate in accordance with the international standard

5/7/2024

The Ministry of Planning announced today, Tuesday, that the Central Organization for Standardization and Quality Control has obtained a quality certificate in accordance with the International Organization for Standardization ISO 9001:2015 specification.

The Ministry stated in a statement: “The Specifications Department of the Standardization Department in the agency obtained this certificate, which is the first administrative formation in the Ministry to obtain a quality certificate from an entity that has been accredited by the Iraqi Accreditation Authority and the British Accreditation Authority (UKAS), which has received international recognition from the Forum.”

International Accreditation Agency (IAF), indicating that this certificate is internationally recognized and added: “The Standardization Department seeks to provide the best services to citizens by increasing the effectiveness and efficiency of its internal operations in issuing and approving Iraqi standard specifications and guidelines.

She pointed out: “Iraq has joined the World Trade Organization by reducing technical obstacles to trade, the most important of which is following scientific and international methods in preparing specifications for products involved in trade.  LINK

DMcCall: In my opinion I fond an online official WTO calendar of events. And this is exactly what is in the box for May 9 2024

                                                       ASCENSION DAY 
                                                       (WTO non-working day)

So at least in my opinion May 9, 2024 announcements will be made to welcome the new FULL members.

Clare:  A deputy in finance expects the Council of Ministers to approve the budget schedules in today’s session

Information / private..

On Tuesday, a member of the Parliamentary Finance Committee, Representative Moeen Al-Kadhimi, suggested that the Council of Ministers would approve the amendments to the 2024 budget schedules during its regular session today, indicating that if approved, they will be sent to Parliament tomorrow, Wednesday.

Al-Kadhimi told Al-Maalouma, “The Council of Ministers is supposed to approve the 2024 budget tables during its regular session,” suggesting that “the Council of Ministers will vote on the tables today, especially after the pressure put on the Council by Parliament, which considered delaying the approval unjustified.” .

He added, “If approved today, the schedules will be sent to the House of Representatives tomorrow, Wednesday, and therefore the Parliamentary Finance Committee will study the schedule and provide a briefing to Parliament for the purpose of approving it,” noting that “the House of Representatives will extend its legislative recess until the 2024 budget schedules are approved.”

almaalomah.me

DMcCall:  In my opinion nothing will stop what has been announced! Iraq on May 9 ascends to FULL membership in the WTO which requires an international exchange rate! So can we stop talking about the budget? The budget WAITS FOR THE RATE!!!

CalandDLQ:  If my memory serves me correctly, when the tripartite budget was approved they also voted and approved that the COM could amend the budget without needing parliament so IMO this is another example of smoke and mirrors. The articles over the last 24-36hr point to the reality of Sudani, Alak, Saleh and gov. are doing what they told us they were doing. These next 4-24hrs will be…well…popcorn anyone

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Clare:  Plasschaert's duties in Iraq end

5/7/2024

The duties of the head of the United Nations mission in Iraq, Jeanine Plasschaert, in Iraq have ended.

A statement of the Supreme Judicial Council, a copy of which was received by {Al-Furat News}, said, "The President of the Supreme Judicial Council, Judge Faiq Zaidan, received today, Tuesday, the Representative of the Secretary-General and Head of the United Nations Mission in Iraq, Jeanine Plasschaert, on the occasion of the end of her work duties in Iraq."

Jeanine Antoinette Hennis-Plasschaert is a Dutch politician and diplomat, and was appointed Special Representative of the Secretary-General for the United Nations Assistance Mission for Iraq on December 17, 2018.  LINK  

Alicia2015:  IMO- interesting timing, wonder if she stacked dinars.

Clare:  After a break of more than 9 years.. the resumption of a government trade meeting between Iraq and America

5/7/2024

The Ministry of Commerce announced the holding of meetings of the third session of the Trade and Investment Framework Agreement between Iraq and the United States of America in Washington, D.C., after a break that lasted for more than nine years. It was chaired on the Iraqi side by Economic Agent Ghassan Farhan Hamid, and on the American side by the Representative Office. Commercial.

The Economic Undersecretary for Trade confirmed in a statement to the ministry, a copy of which was received by {Al-Furat News}, that “the meeting discussed many topics, the most important of which are the agricultural sector, standardization and quality control, the financial system, customs, company registration, intellectual property rights, Iraq’s accession to the World Trade Organization, the health sector, and government contracts.”

He pointed out, "It was emphasized during the meetings that the Iraqi government is open to all parties and that economic reform and diversification of the economy are considered among the priorities that are being worked on, and that Iraq is ready to discuss any proposal that leads to strengthening relations between the two countries."

For its part, the American side expressed its great interest in the issues raised and its appreciation for the reform measures undertaken by the Iraqi government.

It is noteworthy that the meetings were also attended by the Iraqi side, Director General of the Department of Foreign Economic Relations, Riyad Fakher Al-Hashimi, the Commercial Attaché, and representatives from the Ministries of Finance, Planning, Agriculture and Health.   LINK

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Clare:  Al-Sudani: Iraqi banks are on the right track with financial transfers

5/7/2024

Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Tuesday, during his meeting with the delegation of the Union of Arab Banks, headed by the Secretary-General of the Union, Wissam Hassan Fattouh, that Iraqi banks are on the right path regarding financial transfers.

At the beginning of the meeting, according to a statement from his office received by Al-Furat News, Al-Sudani welcomed the holding of the Arab Banks Conference in Baghdad, expressing Iraq’s happiness in hosting the Arab conferences, which confirm Iraq’s return to taking its natural position in the region and the world.

The Prime Minister stressed that “the process of financial and economic reform, which was adopted by the government, cannot occur without a solid banking system that is in harmony with the world,” noting that the government has placed this matter within its work of development and reform since its first day, and that Iraqi banks are proceeding today on a The right path in its transactions regarding financial transfers, and that coordination of financial and monetary policy with the Central Bank continues, while preserving the independence of the bank.”

He pointed out that "the policy of clarity, which was adopted by the government, helped in identifying the deficiencies in the banking system and worked to fix them," noting that the Development Road Project is one of the aspects of economic integration in the region, as His Excellency welcomed the holding of a banking workshop to discuss the role of banks in the project and in establishing... Industrial cities on the path of the road.

For its part, the delegation of the Union of Banks praised the government’s measures to reform the banking sector. As they are clear measures aimed at strengthening and enhancing the work of this sector, the delegation also expressed its appreciation for the government’s steps in supporting the private sector and enhancing its role in sustainable development and international and regional partnerships.   LINK

KTFA Monday Night CC: FRANK26….5-6-24….WE TAKE CONTROL NOW !!!

KTFA

Monday Night Conference Call

FRANK26….5-6-24….WE TAKE CONTROL NOW !!!

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=qx8An-RcEeQ

KTFA Late Sun. Night CC: FRANK26…..5-5-24……FLOAT…….WHO CARES?

KTFA

Late Sunday Night Conference Call

FRANK26…..5-5-24……FLOAT…….WHO CARES?

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

https://www.youtube.com/watch?v=dMwNqWZZXxw

KTFA Sat. Night CC: “FRANK26…..5-4-24……QUACKS !!!”

KTFA

Late Saturday Night Conference Call

FRANK26…..5-4-24……QUACKS !!!

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

https://www.youtube.com/watch?v=Lm7ToBv1QD4