Spiked Camel Kava Llama Java !

[Pitcher]

53 minutes ago, thomas2553 said:

perfect!!!

 

Well at least this immigrant is working.  He’s got two jobs, food tester and product research expert.  

 

 

 

The only problem is he put my dog Ralph out of work as a treadmill tester!!!

 

 

[DinarThug]

Participants: Iraq's resources qualify it to be a great economic power

 

Tuesday 17 September 2019

 

 

Baghdad / Farah al - Khuffaf

 

BAGHDAD - The Iraq Energy Forum ended in Baghdad on Tuesday after witnessing four days of contracts and agreements in the field of energy. During the development of the labor market and attract discreet investment.

The interlocutors in the sessions of the forum that Iraq has many resources that qualify it to be a great power in the global economy, provided that they invest properly.

 

A quantum leap in the energy sector

The Minister of Electricity Louay Khatib in the closing session attended by "morning", "work to develop and support the electricity sector, to provide services to all Iraqis, and ensure security for future generations."

"The world of energy looks with admiration for the huge shift in the energy sector in Iraq," said Fatih Birol, executive director of the International Energy Agency (IEA), in a speech on his behalf.

On the issue of unemployment, Saffar pointed out that "the problem can be solved by the private sector. Instead of consuming the budget in paying salaries to employees, there should be productive jobs to absorb future population growth."

The World Bank's regional director, Kumar Sarj Jha, pointed out that "the rehabilitation of the infrastructure of the electricity sector in Iraq was hampered by the occupation of the Islamic State terrorist organization of a number of provinces, and because of the low oil prices."

He added that "Iraq needs to benefit from sustainable energy and solar energy that it has, and the World Bank provides support for investment, and to develop the electricity sector."

 

Empowering women scientifically and practically

Women have had a share in the Iraq Energy Forum dialogues, in order to enable them scientifically and practically, and to take advantage of their potential at the family and community levels, to contribute in the field of entrepreneurship and investment.

"Supporting women and empowering them to enter the business world will contribute to raising people's income and developing society and the economy," said UNDP Sustainable Development Goals Specialist Sondos Abbas.

The EU envoy to Iraq, Ghada Hamid, and Abbas believe that providing support for women and providing quality education for girls contribute to the development of societies and improve the economy, through the creation of projects dedicated to them and support them in the education sector.

Canadian Ambassador to Iraq Paul Gibard said that "when women are engaged in peace building, this peace will last longer, because women are an important pillar of ensuring stability, as well as the potential benefit of society and the family to enormously engage women in work.

"The empowerment of women is an important factor for progress and development," said Jean-Noel Palliou, director of the French Institute in Iraq and cultural adviser to the French embassy, urging them to "empower them in the labor market, develop their competence and provide them with adequate training."

 

Community Communications Commission Initiatives

As for communications, Ali Nasser Al Khuwaildi, Chairman of the Executive Authority of the Media and Communications Authority, said that "the development of telecommunications projects contributes to the development of investment projects and increase production, and this reflects positively on the public budget."

Al-Khuwailidi pointed to the DOM initiative launched by the Media and Communications Authority, which presented a number of important projects, including the empowerment of women, protecting children from the Internet, launching projects to connect telecommunications to remote places, opening a training and scientific research center, and a project to train early students.

Mohab Al Gargash, Head of the Governance and Reconciliation Department at UNDP, said: "Working in Karbala to launch smart services and implement smart governance for citizens. After the success of the initiative there, we will copy the project and apply it in other provinces." In cooperation with the Iraqi government, it is to provide services to citizens without paying additional costs by them to obtain them, which leads to reduce corruption, and reduce the time required to obtain the service.

 

Stimulate investment to eliminate unemployment

"The number of unemployed in the Arab region is very high, especially among women, because of the lack of growth of the economy. When the economy is stagnant, new jobs are not created," said Rory Robertsho, a specialist in teaching methods at UNESCO.

"The development of skills and the creation of an environment for innovation play a role in stimulating investment in education, health and various sectors.

The Dutch ambassador to Iraq, Eric Stratenk, said that "there is no stability and prosperity without the guarantee of human rights. "Agriculture and water, as well as its great opportunity to lead, the exploitation of these resources will make it prosper."

Eric Magnus, a director at the World Bank, said Iraq needs entrepreneurship and innovation to find solutions to population growth and to focus on the consumer and its needs.

link

[DinarThug]

The Cabinet approves the draft law of the Reconstruction Council

 

Tuesday 17 September 2019

 

 

Baghdad / morning

 

 

The Cabinet approved at its regular session on Tuesday the draft law of the reconstruction council, which was jointly prepared by the presidencies of the Republic and the ministers and was sent to the House of Representatives for a vote, and the Council also agreed to allow students completing 3 subjects in the second round to take the third round exams In the phases of the middle and preparatory studies, at a time when the Supreme Council against Corruption, headed by Abdul-Mahdi, stressed the need to take the maximum penalties against the manipulators and those found to be involved in cases of fraud and manipulation in the real estate registration departments and state real estate.

According to a statement issued by the Prime Minister's Office received by "morning", the Council of Ministers held its regular session on Tuesday, chaired by Prime Minister Adel Abdul Mahdi, and discussed a number of issues prepared for his agenda and issued the necessary decisions.

The Cabinet discussed a number of developments, including the resignation of the Minister of Health, Dr. Alaa Abdel-Saheb Al-Alwan, in all its aspects, the resignation letter and the reasons for his resignation.

In addition, the Presidency announced the details of the law of the reconstruction council approved by the Council of Ministers, noting that the Council will be headed by the Prime Minister and the membership of a number of ministers.

The Presidency said in a statement received "morning" a copy of it: The Cabinet approved the draft law for the reconstruction of the Council for the purpose of submission to the House of Representatives, as the draft law was prepared jointly between the presidencies of the Republic and the ministers and benefit from the advice of many experts and competencies.

The draft law aims, according to the statement, to "establish infrastructure, the establishment of major projects in the country such as roads, bridges, airports and ports, as well as the elimination of unemployment through the promotion of investment and employment of manpower, and follow-up the establishment of strategic projects, industrial, agricultural, health and housing, and the sustainability of operation in accordance with standards and concepts Globalism".  

link

[DinarThug]

A proposal for companies to buy back their shares

 

Tuesday 17 September 2019

 

 

Baghdad / Hussein Thugb 

 

In order to strengthen the functions of the stock market and enhance investor confidence, the Executive Director of the Iraqi Stock Exchange Taha Ahmed Abdul Salam, to start joint stock companies to buy a proportion of their shares to promote the reality of those shares in daily trading.

 

Abdul Salam said in a statement to "morning": "The companies in the Arab and international financial markets resort from time to time to study their possibilities and investment plans and measure the value of their real shares to the value of market shares in the stock market, and in this light take decisions to buy back a percentage of Its shares Buy Back to achieve a number of goals. "

Growth opportunities

He pointed out that "the objectives of companies to buy a proportion of their shares on the stock market is to seek to enhance the earnings per share (dividend divided by the shareholders), because of the absence of growth opportunities and investment in the company and the lack of opportunities to exploit the accumulated surplus, as well as when the company finds The market value of a stock is less than its value The truth. "

 

Enhance value

He stressed that "during the period 2010 - 2016 US companies resorted to buy back a proportion of its shares from the stock market amounted to (3) trillion dollars," adding that "in the first quarter of 2017 the value of shares that were bought back from the financial markets (133 $ 1 billion to boost earnings per share, enhance market capitalization and capitalize on the accumulated surplus she has".

 

Stocks traded

Regarding the need to approve the share buyback proposal and the reasons for this, Abdul Salam said: 'From reading the data of joint stock companies and trading indicators during the period 2015-2019 shows the importance of the proposal of companies to buy back a percentage of their shares, which can be summarized by the decline in the prices of shares traded for joint stock companies. With varying proportions of more than 50 percent during the period, due to the absence of growth opportunities and investment in them, and the decline in earnings per share due to the rise of capital for a significant number of companies and the inability to make profits in companies Other. "

 

Repurchase

"This proposal is one of the mechanisms of the international and Arab stock markets in order to enhance the value of the stock," he said. The general assembly of the joint stock company shall approve the repurchase when discussing the final statements and accounts of the company, as well as specifying the period of retention of the shares purchased by the company and often does not exceed six months, and the shares purchased should not exceed 10% of the company's capital. It is important to note that the shares that the company is buying back do not have the right to vote at the general assembly meeting and have no right to receive the profits until they are resold in the stock market after achieving the objective of buying them.

link

[DinarThug]

The economics of igniting wars

Tuesday 17 September 2019

Free Membership

 

There are many interpretations that point to the factors driving countries into wars, yet the economy remained the most influential factor in igniting them through the ages. 
For example, the Iraqi-Kuwaiti war, for which researchers and thinkers had the most beautiful reasons, had the largest share in the interactions that produced the act.

In their view, Iraq has entered the first Gulf War with Iran has a reasonable economy by regional standards and traditional measurements, and a cash surplus more than well accumulated in foreign banks, and emerged from the deteriorating state of foreign debt, and inflation exceeded the capacity of the economy 

The Iraqi government is unable to meet its financial obligations to the huge military machine, prisoners of war, martyrs and wounded, and rebuilding what was destroyed by the war. In multiple aspects of life. 
On the other hand, more than a quarter of a million soldiers remained in an unstable state between continuing to serve in the army reserve, or return to a civil society that was not prepared for the aspirations they were expecting from an economically stable living, was the situation worried Iraqis who were put at the end of the war Returning to the image of the late 1970s, which they used to have reasonably well-being for nearly four years in terms of living, housing and travel, it gave the imbalance of the unbalanced Baathist government that the economic situation was going from bad to worse, and at a level that directly threatened its survival, and reinforced the sense of its absolute ruler that he was Ba. 

Face to face in an economic crisis he has never told before, it could shake the seat of governance that he clings to. Faced with the absence of sound economic planning was a sense of danger is strengthened within it after the popularity of what became known as the existence of an external economic conspiracy, especially after the descent of oil prices, whose imports constitute 90% of Iraq's income in hard currency in critical circumstances, and financial benefits are now demanding owners to pay them publicly, then Saddam was convinced of the responsibility of Kuwait and the United Arab Emirates for this and re-accuse them explicitly of deliberate harm to the Iraqi economy. 

This shows that the gloomy picture of the Iraqi economy realized by Saddam and confirmed by his government, and the deficit of the possibilities of reform in traditional ways, because of poor inputs, and the large obligations and debt, and the difficulties of repayment on the other hand ...

 

salobiady@yahoo.com
LINK

[DinarThug]

Allaq: Iraq's revenues go to build the economies of other countries .. The law does not allow lending to the government

 

Politics  ,   2019/09/17 19:57  
 

 

 

Baghdad - Iraq today:

 

The Governor of the Central Bank, on the relationship, Tuesday that the size of Iraq's foreign exchange reserves exceed the ratios of international standards, while noting that Iraq's revenues go to build the economies of other countries. 

Alak said that "our foreign currency reserves are comfortable and good and within international standards, but exceed the normative ratios, but according to the law is not to cover the deficit, but is a cover for the local currency," pointing out that "the government has reached more than saturation, and that Iraq's revenues go to build Economies of other countries. " 

He added that "the strength of the exchange rate and the strength of the Iraqi dinar depends on this cover, so the process of linking the reserve and cover the deficit is improper, and the law of the Central Bank does not allow the reserve to be used to lend to the government directly or indirectly, but is to maintain the value of the dinar against the dollar ". 

And about sagging government jobs between the relationship that " The government system has reached more than saturation, and it does not add economic value, but that in its expenses is a major challenge to the public budget and reduces the resources that can go to employ others and create more jobs through real projects.

The real sectors, which are industrial, agricultural, tourism and others, are the basis in moving economic rings, so there must be a focus on moving these economic sectors by changing the economic model that exists today in Iraq, the model that exists now is that our revenues come from oil, which is pumping the greatest of them on Doubt For salaries, these salaries turn into a demand for imported goods and commodities. "

The central bank governor said," Our revenues go to build the economies of other countries rather than moving the pace of the economic situation. "

link

[DinarThug]

LINK

Kurdistan: steps are going towards solving all problems with Baghdad

 

 

18th September, 2019
 

 

After a meeting between the delegation of the Kurdistan Regional Government and Iraqi Finance Minister Fuad Hussein, on Tuesday, the spokesman for the Kurdistan Regional Government, Gutiar Adel, said that efforts are moving towards resolving all problems between Erbil and Baghdad.

"Today's meeting was in a positive atmosphere," Adel said at a press conference on Tuesday evening, adding that all efforts were to find a common solution suitable for all issues.

Adel explained that there are many details on the problems, indicating that the talks will continue on those details.

The President of the Republic Barham Saleh, accompanied by Federal Minister of Finance Fuad Hussein to Arbil, the capital of the Kurdistan region is scheduled to arrive in the House of Representatives Mohammed Halbousi tomorrow to Arbil.

[DinarThug]

LINK

Kurdish deputy: Arbil agreed to deliver oil to Sumo on terms will not be approved by Baghdad

 

 

18th September, 2019
 

 

The Kurdistan Alliance MP Salim Hamza, Wednesday, on the approval of Arbil to deliver the share of oil production scheduled for the budget of Somo company under conditions, stressing that Baghdad rejected those conditions.

Hamza said in a statement to / information /, that "the talks of the Presidents of the House of Representatives and the Republic with the government of the region resulted in the discussion of a number of files, especially the urging the region to commit to deliver its share of oil to the marketing company negation (SOMO),"revealing that "the provincial government agreed to Delivering the quota to SOMO but on terms. He added that "the conditions set by the provincial government in return for the delivery of oil to the marketing company (SOMO) faced rejection from Baghdad, according to information obtained."

Hamza pointed out that "the two sides will continue to hold continuous meetings in order to resolve the file to be a motive for the adoption of the Federal Oil and Gas Law.

[DinarThug]

LINK

US discloses the latest assessments of the dialogue between Baghdad and Kurdistan

 

 

18th September, 2019
 

 

President of the Kurdistan Regional Government Masroor Barzani received in his office in Erbil on Wednesday, US Ambassador to Iraq Matthew Toller.

At the meeting, the US ambassador pointed out that the United States supports the rapprochement and dialogue between the Kurdistan region and the federal government, and said: "We feel that there is progress in the process of negotiations."

For his part, the head of the Kurdistan Regional Government that the negotiations are continuing, and at different levels, and said: "We have presented many options to resolve differences, provided that the Constitution is the final."

[DinarThug]

LINK

Prime Minister and Parliamentary Education discuss the nomination of a candidate for the ministry and the granting of students

 

 

 

2019/18/09 15:19

 

 

Prime Minister Adel Abdul-Mahdi, on Wednesday, the president and members of the Education Committee in the House of Representatives, coinciding with the preparations for the start of the new school year.

 

A statement issued by the Prime Minister's Office received a copy of the Euphrates News, that "the educational reality was discussed in all its aspects and solutions and proposals for the development of the education sector, and topics to choose a candidate to take the portfolio of the Ministry of Education, school buildings, and activate the law on the protection of teachers and the granting of pupils and students, lecturers and contracts. And with regard to the transfer of powers to the provinces, and address wrong practices and dropouts, and others."

The Chairman and members of the Education Committee presented a number of observations and proposals for inclusion in the financial budgets.

 

Edited September 18, 2019 by DinarThug

[DinarThug]

LINK

Iraqi Fund for Foreign Development Returns to Arab Funds after 30 Years Interruption

 

 

18th September, 2019

 

 

The Iraqi Fund for Foreign Development announced on Wednesday its return to Arab funds after a 30-year break

"The Iraqi Fund for Foreign Development participated in the 84th regular meeting of the coordination group of the Arab Fund for Economic and Social Development, which was held in Kuwait City, where the delegation was headed by Hussein Jaber Al-Khaqani, deputy director general of the fund," said Hussein Al-Khaqani, deputy director of the fund. The Iraqi Fund," noting that "came after a long interruption extended to 30 years since 1989

This will be an economic achievement after his return to his Arab incubator," he said, noting that "it will be a factor in the support and success of Arab finance funds in achieving their objectives by providing support for economic development projects

The Iraq Fund for Foreign Development grants development projects in Arab countries and developing countries medium and long-term loans and the use of public and private funds to ensure the development of economic development

[DinarThug]

LINK

Iraq raises its holdings of US bonds by 23.3% during July

 

 

18th September, 2019

 

 

Iraq raised its holdings of US Treasury bonds by 23.3 percent in July 2019 year on year, up $6.6 billion.

According to data from the US Treasury Department, Iraq's total holdings of bonds amounted to $ 34.9 billion, compared to $ 28.3 billion in the corresponding month of 2018.

On a monthly basis, Iraq raised its ownership by 0.6 percent compared to its value of $ 34.7 billion in June 2019.

Japan ranked first globally in the list of holders of US bonds worth 1130.8 billion dollars, followed by China with 1110.3 billion dollars.

In the Arab world, Saudi Arabia was the first with $ 180.8 billion, followed by the UAE with $ 49.3 billion and Kuwait with $ 44 billion.

 

################

 

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Japan strengthens its lead on the list of largest US bondholders

 

 

18th September, 2019

 

 

Japan strengthened its position as the largest holder of US Treasury bonds by the end of July, after China surpassed for the first time since 2016 in June.  US Treasury data showed Tuesday that Japan raised its holdings of US bonds to a three-year high in July at $ 1.130 trillion from $ 1.122 trillion in June

China, now in second place, reduced its holdings of US debt in July to $ 1.110 trillion from $ 1.112 trillion the previous month

In the third to fifth place, with Brazil, Ireland and Luxembourg respectively, the three countries reduced their holdings of US bonds at $ 334.7 billion, $ 309.9 billion and $ 258.2 billion respectively

Switzerland and the Cayman Islands, both sixth and seventh, respectively, were downgraded to $ 228.5 billion and $ 218.4 billion

Hong Kong was in eighth place, with total bond holdings at $ 210.4 billion at the end of July, down from $ 215.6 billion at the end of June

Belgium, in ninth place, raised its bond holdings to $ 206.1 billion, up from a record high of $ 203.6 billion at the end of June

Saudi Arabia, which is in 10th place, also raised its holdings of US debt at $ 180.8 billion, up from $ 179.6 billion in June

[Laid Back]

The foreign currency reserves are a cover for the local currency. 💰💵💰💵💰

 

Foreign currency reserves $72 Billion dollars 

Money in circulation $42 Trillion IQD/1190 = $35.3 billion dollars 

$72 billion dollars / $35.3 billion dollars = $ 2.03

 

Go CBI

Go Foreign Currency Reserve 

Go Dinar

Go RV

Go $1:1+

 

[DinarThug]

LINK

Saudi Arabia: We will regain full oil production by the end of September

 

18th September, 2019
 

 

Saudi Arabia is regaining its oil production losses by the end of September after it managed to bring crude supplies back to pre-weekend levels on two facilities by drawing from its huge oil reserves. Energy Minister Prince Abdulaziz bin Salman said oil production would average 9.89 million bpd in September and October and that the world's top crude exporter would provide customers with full oil supplies this month.

Told a press conference in the city of Jeddah on the Red Sea "during the past two days to contain the damage and recover more than half of the production that has been delayed as a result of this sabotage blatant." He said that the kingdom will reach energy to 11 million barrels per day by the end of September and 12 million barrels per day by the end of November The second. He spoke of "the return of oil supplies to what they were before 3 and 43 minutes… last Saturday," adding that the national oil giant Aramco rose "like a phoenix from the ashes" after the attack. He was referring to Saturday's attacks on Saudi Aramco's facilities at Abqaiq and Khurais, including the world's largest oil processing plant, which halted half of Saudi Arabia's production, equivalent to 5 percent of global production.

Aramco's chief executive, Amin al-Nasser, said the company, which is preparing for an initial public offering (IPO), was still assessing repair work but was "not large", relative to the size of the company. "We will return to our (production) level before the attacks on our facility by the end of September," Nasser told the news conference. He said Aramco had put out 10 fires in less than seven hours after the “massive” attack. He said that the company is working to return the oil refining capacity to its full capacity and that there are enough products to supply the local markets. He said Aramco's crude oil inventories exceeded 60 million barrels.

Speaking at the same press conference, Aramco Chairman Yasser Al-Rumayyan said the IPO would be ready within the next 12 months and that the Kingdom was committed to listing. Al-Rumayyan said the IPO was "continuing as it is" despite the weekend attacks and the timing would depend on market conditions. Prince Abdul Aziz said Riyadh did not yet know who the attacks were or what their purpose was, adding that Saudi Arabia would maintain its role as a safe supplier to global markets. He said tougher measures were needed to prevent further attacks, but gave no details.

[DinarThug]

LINK

Oil prices rebound on Wednesday morning

 

18th September, 2019

 

 

Oil prices rebounded on Wednesday as they fell on Tuesday as some Saudi supplies returned to the global market as well as global industrialists looked to start talks between China and the United States to ease their trade war on Thursday

At 10 am (0400 GMT) in Baghdad, Brent crude was trading at $ 64.68, up 15 cents, or 0.22% from yesterday's close

WTI was trading at $ 59.10 a barrel, keeping its price unchanged

Oil prices rose earlier this week due to attacks on Saudi Aramco that led to the exit of 5% of global production

Energy Minister Prince Abdulaziz bin Salman said oil production would average 9.89 million bpd in September and October and the world's top crude exporter would provide customers with full oil supplies this month

Oil prices may fall by the end of the day due to Nigeria's lack of commitment to cut production and the lack of global oil demand due to the US-China conflict

[Dinarrock]

6 minutes ago, Laid Back said:

The foreign currency reserves are a cover for the local currency. 💰💵💰💵💰

 

Foreign currency reserves $72 Billion dollars 

Money in circulation $42 Trillion IQD/1190 = $35.3 billion dollars 

$72 billion dollars / $35.3 billion dollars = $ 2.03

 

Go CBI

Go Foreign Currency Reserve 

Go Dinar

Go RV

Go $1:1+

 

Agreed but also didn’t we just see a CBI article within the past couple of days that said the reserves are now 87 Billion! So my math says it should be $2.47 now!!! LOL

[Dinarrock]

Here is one of the articles that was just posted by Yota in the news section 5 hours ago, it’s says 87 billion now unless I am reading it wrong.

 

The central monetary and economic policies have strengthened the government's economic resilience in the face of the toughest conditions

 

Samir al-Nasiri

Articles Samir al-Nasiri Iraq's foreign currency reserves reached $ 87 billion after the government's $ 13 billion reserve was added to the Central Bank's reserves, a positive indication of Iraq's economic resilience in the face of economic crises in the most difficult circumstances.  From this, we note that what has been achieved comes mainly to the exceptional efforts made by the Central Bank during the years of economic and financial crisis in supporting the national economy and securing the limits of 16 billion dollars to the state treasury to overcome the difficult conditions suffered by our country. When the Ministry of Finance takes advantage of the rise in oil prices and repay the $ 16 billion dues of the Central Bank owed by the government and thus the total reserves of the Central Bank and government reserves will be around $ 100 billion, especially if we expect to continue Oil to rise. The follower and competent is well aware that to reach this rate of foreign reserves is the Central Bank to follow the investment policies safe, which strengthened the credit standing internationally and restore confidence in the Iraqi economy and international banking relations. Underscoring the safety and success of the Bank 's strategy for the years ( 2016-2020 ) achieved .ho achievements in financing activity and activate the initiative to finance small and medium enterprises and raise the ceiling on loans to one billion dinars for each project within the objectives of the initiator e in the revitalization of the economic cycle and support system" rel="">supportthe implementation of the objectives of the government curriculum in the fourth axis (Strengthening the economy) by achieving the objective of development banks as a goal of development. Therefore, the Bank is currently working on initiating the syndicated Islamic finance for public and private banks. In addition, the implementation of community initiatives from the Tamkeen Fund will enable the effective national experience in integrating the banking sector with society and achieving the objective of social and economic banks. The clear evidence, which can never be covered, is the continuity and stability of the exchange rate over two years and maintaining the inflation rate of less than 2%. Thus, the Central Bank, with its national and distinguished team, has been able to achieve its objectives contained in its law 56 of 2004, which is to build foreign reserves and reduce inflation and maintain. It now facilitates the strengthening of the economy and banks for development. Number of Views 134   Date Added 17/09/2019

[DinarThug]

LINK

Trump: There is no need to withdraw from the strategic oil reserves

 

 

18th September, 2019

 

 

US President Donald Trump said that the United States does not need at the moment to use the strategic oil reserves have, but at the same time is prepared if necessary to stabilize the delivered justice prices

Trump said in remarks to reporters on Tuesday: "I do not think we need to, oil prices did not rise significantly

Trump stressed that "there is a lot of oil in the world," and stressed that his administration will speed up the process of approval of pipelines in order to help US oil production

"We can accelerate that very dramatically," he said

After Saturday's attack on Saudi Aramco, which halted Saudi production, the US president withdrew from the strategic reserve. oil if necessary

Trump also said that "Iran appears to be responsible for the attacks on Saudi Aramco," a charge denied by Tehran

[DinarThug]

On 9/15/2019 at 5:02 PM, DinarThug said:

Appearance of Mohammed Saleh: Iraq's financial situation is reassuring

Sunday 15 September 2019

 

Baghdad / morning

 

Certainly, the financial situation in Iraq is reassuring and the deficits that are talked about are hypothetical, and that financial sustainability is not threatened with the presence of reserves at the Central Bank of Iraq and the government estimated at $ 87 billion, as well as a surplus ranging between $ 13-12 billion and we in the last quarter From this year.

Financial Advisor to the Prime Minister d. The appearance of Mohammed Saleh said: "The deficits in the budget hypothetical, and that the financial situation of Iraq is reassuring and does not threaten financial sustainability and under control," pointing out that "Iraq in the fourth quarter of the year and there is a surplus liquidity between 13-12 billion dollars."

 

Opening balance

He added that "the public finances act according to priorities, and that the Ministry of Finance governs control of expenses, and recognizes the important thing that must be spent," stressing that in the "2018 budget there was a surplus of 20 trillion dinars, and thus a large opening balance"

He pointed out that "the fiscal deficit that is being talked about is hypothetical and not realistic, as ministries provide many requirements are taken important and required and determines the importance of disbursement according to the financial situation," pointing to the "rationalization of spending and this comes from the imperative to control liquidity."

 

Financial sustainability

He explained that "when preparing the budget requests are very large, so the figures appear large, but at the same time not all requests are taken, but are adopted important things that do not strain the country and maintain financial sustainability."

Saleh said: "The abundance of strategic crop production and cover local demand and the federal budget provided the amount of 10 trillion dinars were allocated to import from global markets, and will rotate these funds Within the joints of the national economy to activate the joint. " 

He explained that "the reserve of the central bank along with the reserve of the government amounted to 87 billion dollars, and this is very positive gives a great resilience to the state in the most difficult circumstances."

 

Labor market

Saleh pointed to the "need to encourage the private sector to take its right role in the management of the economy, and provide tools to activate it in a way that serves all sectors, and praised the mobility witnessed in the housing sector and its impact on the movement of the local labor market," pointing out that "the provision of funding for the private sector makes it able To activate a lot of sectors. "

 

Economic aspect

In a press statement, MP Eng. Mohammed Sheaa Al-Sudani stressed the need to focus on legislating laws that support system" rel="">support the non-rentier state and increase the economic activity by activating the industrial, agricultural, commercial and tourist sectors. Not to rely on the rentier economy in light of fluctuating oil prices and the possibility of the emergence of alternative sources 

للطاقة ".

Al-Sudani pointed out to the importance of activating the supervisory role of the audit and internal control departments, the bodies of the Financial Supervision Bureau and the concerned departments in the ministries to prevent the risk of corruption spreading in many parts of the economy. 
link

 

On 9/17/2019 at 10:16 AM, DinarThug said:

The central monetary and economic policies have strengthened the government's economic resilience in the face of the toughest conditions

 

17th September, 2019 by Samir Al-Nusairi

 

 

Iraq's foreign currency reserves reached $ 87 billion after the government's $ 13 billion reserves were added to the Central Bank's reserves, a positive indication of Iraq's economic resilience in the face of economic crises in the most difficult circumstances

From this, we note that what has been achieved comes mainly to the exceptional efforts made by the Central Bank during the years of economic and financial crisis in supporting the national economy and securing the limits of 16 billion dollars to the state treasury to overcome the difficult conditions suffered by our country.  When the Ministry of Finance takes advantage of the rise in oil prices and repay the $ 16 billion dues of the Central Bank owed by the government and thus the total reserves of the Central Bank and government reserves will be around $ 100 billion, especially if we expect to continue Oil to rise

The follower and competent is well aware that access to this rate of foreign cash reserves is the Central Bank to follow safe investment policies, which strengthened the credit standing internationally and restore confidence in the Iraqi economy and international banking relations

Underscoring the safety and success of the Bank's strategy for the years (2016 - 2020) achieved .ho achievements in financing activity and activate the initiative to finance small and medium enterprises and raise the ceiling on loans to one billion dinars for each project within the objectives of the initiator e in the revitalization of the economic cycle and support system" rel="">support the implementation of the objectives of the governmentcurriculum in the fourth axis (Strengthening the economy) by achieving the objective of development banks as a goal of development

Therefore, the Bank is currently working on initiating the syndicated Islamic finance for public and private banks.  In addition, the implementation of community initiatives from the Tamkeen Fund will enable the effective national experience in integrating the banking sector with society and achieving the objective of social and economic banks

The clear evidence, which can never be covered, is the continuation and stability of the exchange rate over two years and maintaining the inflation rate of less than 2%. It now facilitates the strengthening of the economy and banks for development

 

8 minutes ago, Dinarrock said:

Here is one of the articles that was just posted by Yota in the news section 5 hours ago, it’s says 87 billion now unless I am reading it wrong.

 

Good Eye D-Rock - It Was Also Posted Here Yesterday Along With One On Sunday Containing The $87 Billion Dollars In Reserves !  

 

     

[DinarThug]

LINK

Trump announces the appointment of Robert O'Brien as national security adviser

 

 

2019/18/09 16:30

 

 

US President Donald Trump on Wednesday named Robert O'Brien as national security adviser, replacing John Bolton. US President Donald Trump has announced a final list of five candidates for the post of national security adviser to succeed John Bolton.

According to the Financial Times, Trump told reporters in California on Tuesday that he was consideringRobert O'Brien, Ricky Waddell, Lisa Gordon Hagerty, Fred Fleetz and Keith Kellogg to replace Bolton. O'Brien is the US presidential special envoy for hostage affairs, while Waddell is the assistant chairman of the Joint Chiefs of Staff and one-time deputy national security adviser.

Gordon Hagerty is undersecretary of the Department of Energy in the Department of Nuclear Security, and Fitz has served as Bolton's team leader and is now president and chief executive of the Center for Security Policy, a think tank in Washington. Mr. Kellogg is National Security Adviser to Vice President Mike Pence. Trump said about the candidates that O'Brien was great, that Kellogg was with him from the start, and that he liked Waddell too much. Trump's choice would reveal the US administration's approach to major issues in the coming period, especially on the Iranian issue.

Bolton was a "national security hawk" one of the pillars of the US hard-line stance toward Iran, and he reportedly disagreed with Trump recently on the Taliban issue and the idea of easing US sanctions on Iran to pave the way for negotiations.

 

########################

Donald J. Trump

 

✔@realDonaldTrump

 

 

I am pleased to announce that I will name Robert C. O’Brien, currently serving as the very successful Special Presidential Envoy for Hostage Affairs at the State Department, as our new National Security Advisor. I have worked long & hard with Robert. He will do a great job!

 

37.5K

6:23 AM - Sep 18, 2019

Twitter Ads info and privacy

 

15.8K people are talking about this

 

 

Edited September 18, 2019 by DinarThug

[Laid Back]

18 minutes ago, Dinarrock said:

Agreed but also didn’t we just see a CBI article within the past couple of days that said the reserves are now 87 Billion! So my math says it should be $2.47 now!!! LOL

WoW, this is awesome 👏 

With $87 billions in foreign currency reserves they can cover the monetary mass

by 247% 

My friend we are sitting on a gold mine 💰💰💰

Thanks for the Article and your input.

 

Go RV asap

 

[Dinarrock]

11 minutes ago, DinarThug said:

 

 

 

Good Eye D-Rock - It Was Also Posted Here Yesterday Along With One On Sunday Containing The $87 Billion Dollars In Reserves !  

 

     

Thanks DT I knew I read it yesterday too but I just found that one first today. I like your post better with all the highlights! This is HUGE folks all we need is for Iraq to pull the damn trigger!! LOL...Come on RV or RI either one works for me!!

Edited September 18, 2019 by Dinarrock

[Arceo]

5 minutes ago, Laid Back said:

WoW, this is awesome 👏 

With $87 billions in foreign currency reserves they can cover the monetary mass

by 247% 

My friend we are sitting on a gold mine 💰💰💰

Thanks for the Article and your input.

 

Go RV asap

 

 

Please break this down for my brain..You're the man!!

[DinarThug]

On 9/16/2019 at 2:58 PM, DinarThug said:

Al-Sabah: The Central Bank reserves exceed international standards

 

Monday, September 16, 2019

 

iro / Israa Khalifa 

The Governor of the Central Bank of Iraq on the relationship that the amount of the budget deficit for the year 2020 is not proven so far as indicated by the Ministry of Finance, and what is being circulated is just hypothetical figures and not yet settled, indicating that the upper limit of the deficit must be consistent with the Financial Management Law The central bank's reserves of foreign currency are comfortable and well above international standards.

Al-Allaq said in special statements to Al-Sabah on the sidelines of his participation in the 43rd session of the Board of Governors of Central Banks and Arab Monetary Institutions held on Sunday in Cairo: “Our foreign currency reserves are comfortable and good and within international standards; The law is not to cover the deficit but is a cover for the local currency, and the strength of the exchange rate and the strength of the Iraqi dinar depends on this cover, so the process of linking the reserve and deficit coverage is not correct, and the Central Bank law does not allow the reserve to be used to lend directly or non-government Direct but it is to maintain the value of the dinar against the dollar.

 

exchange rate

And the relationship, that "the stability of the exchange rate is a central objective of the Central Bank and seeks to achieve by all means, and depends mainly on the economic performance of Iraq, the stronger the economy was to maintain the exchange rate stronger, and our economy is subject to fluctuations in oil prices, which is a resource The basis for the country, which is also the basis for the foreign currency, so careful management of reserves in order to achieve stability is important, where there can be a balance between the supply and demand of foreign currency, and when supply disrupts affect the exchange rate, and the reserve we have so far is able to The application covers And therefore keeps the price under control. ”

 

Sagging jobs

Regarding slackness in government jobs, Al-Allaq said: “The government apparatus has reached more than saturation, and it does not add economic value; rather, in its expenses it represents a great challenge to the public budget and reduces the resources that can go to employ others and achieve more job opportunities through real projects. The basic solution to the issue of unemployment is the employment of the real sectors, namely, industrial, agricultural, tourism, etc., which is the basis in moving economic rings, so there must be a focus on moving these economic sectors by changing the economic model that exists in Iraq today, the model now is that It comes from oil, and it pumps the bulk of it in the form of salaries. These salaries turn into demand for imported goods and commodities.

The Governor of the Central Bank, that "can not be laid off people, but the money taken as salaries can be invested inside Iraq through the expansion of the real sector and this will occupy other people, and that depends on coordination in trade, investment, tax and customs policies to harmonize with each other to move the situation internally".

 

Economic challenges

As for the Cairo meeting, Al-Allaq said: “These meetings are regular and periodic, and since Iraq is a member of the Arab Monetary Fund, it is attending these meetings, where the meetings of the Council are a review of all developments that take place in the financial, monetary and economic matters in the Arab world, especially in the circumstances facing Major challenges in the economic aspects Increasing challenges and risks related to these aspects, which we provide insights and perceptions and how our countries can face these challenges, and analyze their effects and impact on our economies. 

He added, “We will also discuss at the meeting the functions of central banks in terms of technologies and their effects, which are fast and successive, especially with regard to the subject of currency and its use, which has evolved towards digital and virtual, and in this context also talk about the objectives that are evolving functions of central banks quickly to achieve financial stability in Under the circumstances, and to achieve prudential control for central banks towards banking institutions and financial institutions, "he said:" Another goal that we have given priority in this meeting; we organized a special workshop on the expansion of financial inclusion, i.e. L Banking services to as many different citizens and segments as possible and achieve a lot of services quickly. ”

 

Relationship with Egypt

On the relationship between the Central Bank of Iraq and his Egyptian counterpart, Al-Allaq stressed that it is “very good and continuous, and we have many areas of cooperation, and we consider the Central Bank of Egypt very close ally, we have communication and consultation and the degree of high relationship and we need them in building our capabilities and in training and consultation.”

Regarding the reopening of Rafidain Bank in Egypt, Al-Allaq said: “It is an important issue and we have been following it for a long time. The Central Bank of Egypt knows the importance of Rafidain Bank.

link

 

5 minutes ago, Laid Back said:

WoW, this is awesome 👏 With $87 billions in foreign currency reserves they can cover the monetary mass by 247% 

My friend we are sitting on a gold mine 💰💰💰

 

Even The Governor Of The CBI Thinks That Their Reserves Are Incredibly High !  

 

     

 

 

 

 

Alak: Central Bank reserves exceed international standards

 

 

September 17, 2019 - 11:06 AM
 Category : Business & Finance

 

Baghdad / Step Press

The Governor of the Central Bank of Iraq, Ali Alaq, Tuesday, that the amount of the budget deficit for 2020 is not yet proven as indicated by the Ministry of Finance, and what is circulating is just hypothetical figures and not yet settled, indicating that the upper limit of the deficit must be compatible with The new financial management law, stressing at the same time that the central bank reserves of foreign currency comfortable and well beyond international standards, and that the law prohibits the use of this reserve to lend to the government to fill the budget deficit, but it is used to stabilize the exchange rate and the strength of the local currency

"Our foreign currency reserves are comfortable, good and within international standards; Standard ratios are higher, but according to the law they are not to cover the deficit but are a cover for the local currency. H Directly or anybody as long indirectly but it is to maintain the value of the dinar against the dollar. "

And the relationship, that "the stability of the exchange rate is a central objective of the Central Bank and seeks to achieve by all means, and depends mainly on the economic performance of Iraq, the stronger the economy was to maintain the exchange rate stronger, and our economy is subject to fluctuations in oil prices, which is a resource The basis for the country, which is also the basis for the foreign currency, so careful management of reserves in order to achieve stability is important, where there can be a balance between the supply and demand of foreign currency, and when supply disrupts affect the exchange rate, and the reserve we have so far is able to The application covers And therefore keeps the price under control. ”

Regarding slackness in government jobs, Al-Allaq said: “The government apparatus has reached more than saturation, and it does not add economic value; rather, in its expenses it represents a great challenge to the public budget and reduces the resources that can go to employ others and achieve more job opportunities through real projects. The basic solution to the issue of unemployment is the employment of the real sectors, namely, industrial, agricultural, tourism, etc., which is the basis in moving economic rings, so there must be a focus on moving these economic sectors by changing the economic model that exists in Iraq today, the model now is that It comes from oil, and it pumps the bulk of it in the form of salaries. These salaries turn into demand for imported goods and commodities.

The Governor of the Central Bank, that "can not be laid off people, but the money taken as salaries can be invested inside Iraq through the expansion of the real sector and this will occupy other people, and that depends on coordination in trade, investment, tax and customs policies to harmonize with each other to move the situation internally".

As for the Cairo meeting, Al-Allaq said: “These meetings are regular and periodic, and since Iraq is a member of the Arab Monetary Fund, it is attending these meetings, where the meetings of the Council are a review of all developments that take place in the financial, monetary and economic matters in the Arab world, especially in the circumstances facing Major challenges in the economic aspects Increasing challenges and risks related to these aspects, which we provide insights and perceptions and how our countries can face these challenges, and analyze their effects and impact on our economies.

He added, “We will also discuss at the meeting the functions of central banks in terms of technologies and their effects, which are fast and successive, especially with regard to the subject of currency and its use,which has evolved towards digital and virtual, and in this context also talk about the objectives that are evolving functions of central banks quickly to achieve financial stability in Under the circumstances, and to achieve prudential control for central banks towards banking institutions and financial institutions, "he said:" Another goal that we have given priority in this meeting; we organized a special workshop on the expansion of financial inclusion, i.e. L Banking services to as many different citizens and segments as possible and achieve a lot of services quickly. ”

On the relationship between the Central Bank of Iraq and his Egyptian counterpart, Al-Allaq stressed that it is “very good and continuous, and we have many areas of cooperation, and we consider the Central Bank of Egypt very close ally, we have communication and consultation and the degree of high relationship and we need them in building our capabilities and in training and consultation.”

Regarding the reopening of Rafidain Bank in Egypt, Al-Allaq said: “It is an important issue and we have been following it for a long time. The Central Bank of Egypt knows the importance of Rafidain Bank.

link

[DinarThug]

Trump Orders Treasury Secretary to ‘Substantially Increase’ Sanctions on Iran

President makes comment on Twitter but doesn’t provide details on any action 

 

President Trump didn’t directly link Iran and the Saturday attacks on Saudi Arabia in his tweet, but earlier this week he said it was ‘certainly looking’ like Iran was responsible. PHOTO: CHRIS KLEPONIS/BLOOMBERG NEWS

By 

Vivian Salama and 

Ian Talley

Sept. 18, 2019 10:15 am ET

 

WASHINGTON—President Trump said on Twitter Wednesday that he has ordered Treasury Secretary Steven Mnuchin to “substantially increase” sanctions on Iran in the wake of attacks on Saudi Arabian oil facilities.

“I have just instructed the Secretary of the Treasury to substantially increase Sanctions on the country of Iran!” he said.

While Mr. Trump didn’t directly link Iran to the attacks Saturday on Saudi Arabia in his tweet, he said earlier this week that it was “certainly looking” like Iran was responsible for the attacks that, for a time, took half of Saudi Arabia’s oil production offline.

U.S. officials say they are waiting for the results of an investigation by the Saudi government before proceeding with a plan of action.

 

The U.S. already has exhaustive sanctions on Iran, having reversed all major sanctions relief on Iran when the U.S. withdrew from the Iran nuclear accord last year.

The Treasury Department didn’t immediately respond to a request for comment.

Senior administration officials have said in recent days they have additional sanction packages primed that will further squeeze an Iranian economy already collapsing under the weight of the administration’s “maximum pressure” campaign.

Mr. Trump provided no details as to what the U.S. might sanction next. Most of Iran’s most important sectors of the economy have already been targeted—including its petroleum, metals and auto industries—all but cutting off the country’s financial access to the world.

Write to Vivian Salama at vivian.salama@wsj.com and Ian Talley at ian.talley@wsj.com

https://www.wsj.com/articles/trump-orders-treasury-secretary-to-substantially-increase-sanctions-on-iran-11568816128