The Central Bank Of Iraq Supports The Ministry Of Finance With 8 Trillion Dinars, And Provides Salaries For Three Months !

[screwball]

2 minutes ago, horsesoldier said:

Didn't the IMF tell Iraq no more loans ! ! ! ! ????? WTF is the matter with these idiots - yeah, I know the list is loooong.

 

Whats so gosh damn difficult about doing the right thing and getting this damned IQD out into the global market ? If this isn't smoke then's it's utter insanity.

 

This is so ridiculous . . . all I can do is Laugh at this lunacy. Tomorrow is another day with the monkeys from the Twilight Zone.

I laugh and they buy more all or nothing 

[GregHi]

If the CBI is securing salaries for 3 months and they are able to get other loans then I guess we will hit the snooze button for 3 months also. Let’s hope it’s all smoke... aka lies.. I guess we will find out early next week..

[NEPatriotsFan1]

I would think if there is to be any positive impact for Trump and the Election out of this one time event, the sooner the better! September will not be enough time for the effects in the economy to take effect. Especially with the globalists trying to force businesses back into a shut down!

 

The only ways I see economic recovery is level playing field with currencies finding equilibrium or massive stimulus via the “Digital Dollar” project just addressed in Congress in June 30th using blockchain. Other than that we are toast. 
 

I saw somewhere yesterday that even Gold is being questioned because China has been making gold covered copper/tungsten bars. So that can’t be trusted as a standard! Need something fair and immutable 

Edited July 3, 2020 by NEPatriotsFan1

[GregHi]

2 hours ago, NEPatriotsFan1 said:

I would think if there is to be any positive impact for Trump and the Election out of this one time event, the sooner the better! September will not be enough time for the effects in the economy to take effect. Especially with the globalists trying to force businesses back into a shut down!

 

The only ways I see economic recovery is level playing field with currencies finding equilibrium or massive stimulus via the “Digital Dollar” project just addressed in Congress in June 30th using blockchain. Other than that we are toast. 
 

I saw somewhere yesterday that even Gold is being questioned because China has been making gold covered copper/tungsten bars. So that can’t be trusted as a standard! Need something fair and immutable 

Totally agree. If Trumps re-election based on the economy improving in the now 3rd qtr and really big Improvements in the 4th qtr, the RV has to happen really quickly.. All of us will be starting  new businesses, investing, etc with the transfer of wealth in our hands.. It has to happen now.

[DinarThug]

7 hours ago, NEPatriotsFan1 said:

I would think if there is to be any positive impact for Trump and the Election out of this one time event, the sooner the better!

 
      

 

     
 

 

 

[DinarThug]

5 hours ago, GregHi said:

If Trumps re-election based on the economy improving in the now 3rd qtr and really big Improvements in the 4th qtr,

 

     

 

 

[DinarThug]

On 7/2/2020 at 11:52 AM, DinarThug said:

CNN. No Longer Broadcasting On ‘Fumes’ !

The Central Bank of Iraq supports the Ministry of Finance with 8 trillion dinars, and provides salaries for three months

 

 

LINK

The start of the distribution of employee salaries in Iraq
 

 

3rd July, 2020

A source in the Iraqi Ministry of Finance said, today, Friday, that a notice was sent to the banks to launch the employees salaries.

The source said to Shafaq News, "So far, the salaries of employees have been disbursed to the ministries of finance, oil, industry, minerals, labor, social affairs, the Baghdad Municipality, and the Hajj and Umrah Commission."

He added that the salaries of employees in the ministries and other government departments will be launched within the next 24 hours, pointing out that banks Friday morning sent notifications to employees in the mentioned departments to receive their salaries from the automated exchange outlets.

On Tuesday, the Iraqi Ministry of Finance ended its administrative procedures to start the country's banks by gradually distributing employee salaries. An official source told Shafaq News that the Ministry of Finance has completed all financial and administrative procedures regarding securing employee salaries for the month of June. 

The Parliamentary Finance Committee stated earlier that the government's financial liquidity to pay the salaries of employees is available, noting at the same time that the ministry did not send a directive to banks to pay salaries until last Tuesday.

[DinarThug]

On 7/2/2020 at 11:55 AM, DinarThug said:

Parliamentary Finance: Two reasons behind late wages, and 40,000 get more than one salary

 

LINK

Parliamentary finance explains the reasons for the delay in the payment of salaries

 

 

10:08 - 07/03/2020

The Parliamentary Finance Committee clarified the reasons for disbursing the salaries of employees, confirming that the borrowing law and the procedures that followed it caused delayed disbursement.

Member of the Committee, MP Jamal Cougar, told / "The Information", "The government does not have cash to disburse it as salaries for employees, since there were only 3 trillion dinars in the financial treasury."

He added that "Iraq depends on oil to finance the budget by 95.7, as oil imports for June exceeded $ 2.8 billion." And that "Iraq needs 5.5 billion dollars to secure the salaries of its employees every month, which is what called for parliament to legislate the borrowing law in order to overcome the financial deficit."

He explained that "the government instructed to pay salaries since the 18th of each month to reach salaries to ministries, state departments and citizens by the end of the month." This is the last process of borrowing and salaries. 

[DinarThug]

LINK

Economist: The disappearance of the financial crisis depends on real government measures

 

 

09:04 - 07/03/2020

Between the economist, Ihssan Al-Kinani, that the disappearance and transcendence of the financial crisis is subject to real governmental measures away from the statements and the policy of procrastination, pointing out that many resources can be used to overcome the crisis.

Al-Kanani told Al-Maalouma that "many question marks revolve around the government's actions regarding overcoming the financial crisis, despite the Ministry of Finance's assurances that it will be difficult to overcome it."

He added that "some of the producing departments can use their revenues to pay the dues of their employees, in addition to the need of other departments to maximize the resources by using the revenues to pay the salaries of their employees, and thus urge them to work more seriously to ensure the salaries of the end of the month."

He pointed out that "the monetary reserve came into play in the current days, as it is possible to resort to it to eliminate the financial crisis and not borrow from abroad," noting that "some government measures need competent advisors who can find a way out for every crisis the country is going through."

[DinarThug]

LINK

Central: We may take a decision to review the extension of the deferred loan repayment

 

 

10:20 - 03/07/2020

 

Today, Friday, the central bank explained the reasons for reducing loan interest for economic projects.
 

Ihsan Shamran, Director General of Accounting at the Central Bank, said in a statement to the Iraqi News Agency, “The monetary policy of the Central Bank differs from the financial policy, and its decisions are usually short-term. Corona pandemic. ”
 

Shamran added that “the central bank had previously postponed the loan repayment period for a period of three months from April to the first of this July.” 
 

The Central Bank of Iraq, had announced earlier, to reduce the interest rate on small and medium loans to four percent to accelerate the recovery of the Iraqi economy after being damaged by the Corona pandemic.

[DinarThug]

LINK

Parliamentary Finance: Control of non-oil revenues is the
lifeline of Iraq

 

14:38 - 03/07/2020

 

Member of Parliamentary Finance Committee MP Ahmad Al-Saffar confirmed on Friday that controlling non-oil revenues represents the lifeline of Iraq from its current financial crisis.

Al-Saffar said in an interview with "Information", that "Iraq going through a financial crisis, but it opened the doors to the need to find decisive treatments for many of the accumulated mistakes in the financial and economic file in general." Al-Saffar added, “Real control of the non-oil revenues of the state treasury, including border outlets, customs, and municipalities, in addition to collecting other services, will represent a real lifeline for the crisis, as it will pay the government not to borrow to pay salaries and the rest of the other entitlements, but rather achieve a financial surplus, and this must be adopted through real measures that contribute To maximize non-oil resources and solve all problems.”  

 

Iraq is suffering has for months been a stifling financial crisis created by the collapse of world oil prices and the repercussions of the Corona virus.

[DinarThug]

LINK

Taxes: 270 billion Iraqi dinars, June revenues in light of the Corona outbreak

 

2nd July 2020

The Tax Authority announced, on Thursday, the revenues of last June, hours after the Prime Minister stressed the need for the private sector to pay taxes to boost revenue.

A statement issued by the authority received / Mawazine News / a copy of it, "The monthly revenue for the month of June reached 270 billion Iraqi dinars, in light of the comprehensive curfew imposed by the past period due to the outbreak of the Corona virus." Prime Minister Mustafa Al-Kazemi stressed the need for the private sector to pay taxes to boost revenues. He said that it is shameful that there are many investment opportunities that have been approved but not implemented, and it is also shameful that some of the accomplishments and approvals are sold from a businessman to another businessman, as if it was a fraud, and every investment license not implemented according to the law must be withdrawn.

The Deputy Prime Minister and Minister of Finance of Iraq, Ali Abdul-Amir Allawi, said that the government is in the process of forming a complete and integrated program to reform and advance the economy. Allawi said that this program will be presented to the House of Representatives during the next three months and will be comprehensive. The Minister of Finance pointed out that the plans in the program will address all sectors of the economy and the productive and service sectors. Allawi added that the program includes enhancing the state’s revenues from other sources such as: customs, taxes, direct and halting waste, as well as the process of removing the throttle from the economy, stressing that the government will enhance and strengthen the activity of the private sector, because its growth will provide jobs and increase local production. 

[DinarThug]

LINK

Economist: The Iraqi economy depended on oil and neglected
these important joints!

 

3rd July, 2020

The economic expert, Manar Al-Ubaidi, confirmed on Friday that the Iraqi economy relied on oil imports and neglected important joints that included an important economy for the country dependent on many inputs.

Al-Ubaidi told Mawazine News that "the movement of money within the Iraqi government contains many weak joints that need to be strengthened in order to ensure a diversified economy that depends on many inputs."  He added, "The Iraqi economy for years depended on oil imports, neglecting the other important joints that could contribute to maximizing imports and also in providing many job opportunities."

Al-Ubaidi enclosed his speech with a chart showing the movement of money and weak joints in various sectors, in addition to the presence of some extra stages that cause waste in money as a result of its entry into the movement of money.  He pointed out, "One of the important joints is the weakness of industrial and agricultural projects, the amount of their coverage of the country's need and their inability to export abroad, which creates important imports that contribute to increasing domestic product."
 
He continued: "Also among the important joints is the weak investment projects and the weak imports obtained from them in the electricity and water sectors and other services provided by the state." He stressed,"One of the most important stages in the excess of cash movement is the presence of hawala offices that have arisen as a result of the weakness of the banking sector and their inability to find solutions that contribute to increasing dependence on them by merchants and various projects in external purchase. 

These offices have benefited from their ability to transfer money in ways far from The banking sector despite the reliance of these offices on bank transfers through various methods. He noted, "An important factor is the loss of the confidence of the Iraqi citizen in the banking sector, which makes his dependence in investing his savings on many things not including the services provided by the banking sector," adding to the statement: "Every clear dotted line in the scheme is a weak point that must find radical solutions It has the effect of developing the Iraqi economy and reducing its dependence on oil imports, which will not cover in any way the needs of the Iraqi government."

[DinarThug]

On 7/2/2020 at 12:32 PM, DinarThug said:

Parliamentary Integrity announces the preparation of lists to return smuggled money abroad

 

2nd July, 2020

The Parliamentary Integrity Committee announced today, Thursday, the preparation of lists to recover money smuggled out of Iraq. 

"The committee has a complete list of the smuggled money, containing the names of the people and the funds that are located outside Iraq," said the committee's decision, Abdul Amir Al-Mayahi. 

He added that "Iraq has a lot of money abroad, some of it frozen and the other with dishonest hands." 

He pointed out that "the Corona pandemic prevented the movement of those funds," pointing out that "the Integrity Committee summoned the head of the money recovery department outside Iraq to find out what before and after 2003 of the money, and after the end of the pandemic, the file will be fully followed up."

 

LINK

To support the fight against corruption ... a representative of integrity proposes a reward for those who provide information about contraband funds

 

3rd July, 2020

The decision of the Parliamentary Integrity Committee, Abd al-Amir al-Mayyahi, presented a proposal to grant an estimated rate of about 5% per million dollars or more, to anyone who informs the owners of the smuggled money, or even the person himself if he admits that he has the money, without being legally accountable.

Al-Mayyahi said in a press statement that: The Integrity Commission and the Follow-up Department of Smuggled Money and the Recovering of Funds were previously hosted by and after 2003, but the situation that Iraq is going through, such as demonstrations and the spread of Corona's epidemic, has prevented this file from being closely followed in the current period. And on the plan developed by the Integrity Commission to recover the smuggled money out of Iraq, Al-Mayyhi explained that after life returns to normal there will be a careful follow-up to return these funds, and follow-up of the figures who put their hand on these funds, as well as frozen abroad at international banks to recover them to Iraq. He pointed out that there is a proposal to set a specific percentage for informants on the owners of funds amounting to a maximum of 5%, and a minimum of 2.5%, i.e. according to the amount of funds, but if it is a million dollars or more, it will be 5%, and in the case of recognition of who put his hand on the money, he will not it will be held legally accountable."

Regarding the parties accused of smuggling money out of Iraq, he said, "The funds before 2003 were smuggled by people belonging to the previous regime, and most of them were invested for oil in exchange for food in the 1990s. There are also funds that were unlawfully seized after 2003 by some influential figures."  But Al-Mayahi warned that "if the funds are smuggled illegally, the perpetrators will be prosecuted." It is noteworthy that the Parliamentary Integrity Committee announced, on Thursday (2 July 2020), the preparation of lists to recover the smuggled money out of Iraq before and after 2003, confirming that it has a complete regulation on the money smuggled abroad, including the names and quantities of the smuggled money.

The House of Representatives enacted two laws on this issue, the first of which is the Iraq Money Recovery Act, which includes money smuggled from the country before 2003 and that was smuggled during corruption deals that permeated the oil-for-food program during the previous regime, as well as money smuggled after the overthrow of the previous regime.

[DinarThug]

 

 

     

 

An investing company is suing Iraq and is seeking compensation for more than one billion dollars 

 

Economie 01/07/2020 12:03 2044 Editor: ht    

Baghdad today - follow up 

 

A German company, "AHG", filed a lawsuit with the International Center for Settlement of Investment Disputes "ICSID" requesting that Iraq pay more than one billion dollars, following allegations of confiscation of the production of a licensed cement factory.

According to a report published by the "Global Arabization Review", the lawsuit filed by the German company last Sunday protesting the licensing agreement between the two parties in addition to the Iraqi investment law and a number of other investment agreements, stating that a team made up of "K&L Gates" in New York, Berlin and the UAE is working on Follow-up on this complaint, while Iraq has not yet appointed an external adviser. 

In practice, the German company’s claim to settle investment disputes with Iraq is not the first incident of foreign investment dispute. Agility had previously submitted an arbitration request to the International Center for Settlement of Investment Disputes in February 2017 after the Ministry of Trade and Industry - the Directorate of Erbil Companies in Iraq issued an administrative decree providing for the transfer Ownership of Agility at Cork Telecom of Iraq, to which France Telecom, owned by the Government of France, also shares to Sirwan Saber Mustafa, Shaoxin Hassan Shaoxin and Jaxi Hamo Mustafa. 

And argued "Agility" in the subject of the accusation that Iraq does not respect its obligations according to the mutual encouragement agreement for investments signed between the two countries, as well as violating the protocol signed between the two countries on encouraging the movement of capital and investments between each of the two countries through the confiscation of the Government of Iraq for Agility's investments in the Iraqi communications sector. According to the "Global Arbitration Review", the dispute relates to AHG investments in a cement factory in the Kirkuk governorate of Iraq, indicating that the factory that was designed in the eighties was damaged and only 25 percent of its production capacity was employed when the company acquired a license to rehabilitate the facility in 2008. 

These rehabilitation efforts, in addition to the operational costs of the factory's work, mean that the German company has invested significant resources in performing technical work and incurred significant costs from its own funds from August 2008 onwards. 

According to the report, the company says that it was one of the first investors in Iraq after the fall of Saddam Hussein in 2003, and was urged to invest in the Kirkuk cement factory, based on pledges and guarantees from the Iraqi government that foreign investment will get appropriate protection. 

And after only 3 months of granting this license, the company says that Iraqi government officials complained about the lack of progress in the project, even though the parties agreed to a 3-year rehabilitation period. 

According to the site, in January 2009, after only 5 and a half months of the rehabilitation period, the Iraqi government gave the German company only 11 days to address all the issues it raised, otherwise the state will receive a letter of credit for the company worth $ 2 million, to be blacklisted And prevented from doing any other business in Iraq. A month later, the Iraqi government terminated the company’s license and began litigation in a local court to access key credit letters. 

However, after a 6-year legal battle, an Iraqi appeals court ruled that the government's allegations of the delay were not supported and that the schedule for rehabilitating the factory it had provided was reasonable.

Pursuant to this decision, the two parties agreed to withdraw the various court procedures and extend the original AHG license to continue the rehabilitation and operation of the Kirkuk cement plant.

According to "AHG", the Iraqi side again failed to fulfill its promises. The German company claims that an armed takeover of the factory occurred in March 2017, after which arrest warrants were issued to its senior employees. 

The report indicated that the German company reported that it had discovered in January 2018 that its 51 percent stake in a local company, which it was obligated to establish to perform the Kirkuk Cement Factory contract, had been confiscated under an alleged court order, with registration records changed to delete "AHG" as the owner of That company.

"A month later, an Iraqi army division seized the factory, and in April of that year" AHG "was expelled from the building, followed by" AHG "providing notification of the conflict over Iraq in November 2018. Despite the meeting of representatives from both sides in Istanbul But they could not reach an amicable solution. ” 

And demands the German company compensation more than one billion dollars in its claim to the International Center for Settlement of Investment Disputes "ICSID" for the costs and lost profits caused by the behavior of Iraq. 

"Although there is a bilateral investment treaty between Germany and Iraq and contains an arbitration clause for the International Center for Settlement of Investment Disputes" ICSID ", the German government has not yet ratified the treaty and is awaiting approval by the European Union Commission.

However, the company "AHG" says that Iraq agreed to the arbitration issued by "ICSID" under the Investment Law of 2006, which states that investors will enjoy additional privileges in accordance with the international agreements signed between Iraq and their country or the international multilateral agreements that Iraq joined. 

The company also reported that Iraq also agreed to the current procedures in the Kirkuk Cement Factory License, which provided for the settlement of any dispute by arbitration.

link

[DinarThug]

Just now, DinarThug said:

An investing company is suing Iraq and is seeking compensation for more than one billion dollars 

Ok - So Now Who Wants To Start A ‘Lawsuit’ For Us Dinar Investors ?  
 

 

Somebody Look Up How To Do It On ‘Legal Zoom’ - And I’ll Start Writing It In Crayon ...

 

     

[DinarThug]

16 minutes ago, DinarThug said:

An investing company is suing Iraq and seeking more than one billion dollars

Oh Crap - Who Hired This Guy As Our Attorney ?  

 

 

Unless He’s Talking ‘Per Million Dinar’ ...

 

     

[NEPatriotsFan1]

1 hour ago, DinarThug said:

government's financial liquidity to pay the salaries

 

1 hour ago, DinarThug said:

He added that the salaries of employees in the ministries and other government departments will be launched within the next 24 hours,

I could use some Liquidity in the next 24hrs! I got a bunch of friends that I got into the Dinar over the years.... over to the house tomorrow! It would be nice to party with them and tell them I told you so.... as I jump off the Diving Board Practically Naked for a Victory Lap! 

[GregHi]

17 minutes ago, NEPatriotsFan1 said:

 

I could use some Liquidity in the next 24hrs! I got a bunch of friends that I got into the Dinar over the years.... over to the house tomorrow! It would be nice to party with them and tell them I told you so.... as I jump off the Diving Board Practically Naked for a Victory Lap! 

I would ask, why the ankle monitor? but I’m sure I don’t really want to know the answer from Mr Banana hammock.

[DinarThug]

20 minutes ago, NEPatriotsFan1 said:

jump off the Diving Board Practically Naked for a Victory Lap! 

Holy Crap - Wtf Is Davis Doing In That Outfit Again ?  

 

Apparently Clooney Didn’t Know About The Ankle Bracelet From The Last Time The Fashion Police Pressed Charges !  

 

 

     
 

Edited July 3, 2020 by DinarThug

[NEPatriotsFan1]

4 minutes ago, GregHi said:

I would ask, why the ankle monitor? but I’m sure I don’t really want to know the answer from Mr Banana hammock.

Was that like chumming the waters for you and Thug or what!? 
 

I’d rather not get into it..... lol 😂 If I described how I got the Ankle Monitor you’d never think of me the same. 
 

I’ll give you a hint, it involved smuggling a average size package.

😂😂😂

Edited July 3, 2020 by NEPatriotsFan1

[Retiredofficer]

My Dad always reminded me if you have something important  put a roof over it.  

[DinarThug]

LINK

Lebanese banks apply to the Central Bank to settle their
branches in Iraq

 

2nd July, 2020


The bank of Francebank and the Lebanese Accreditation submitted to the Central Bank to liquidate their branches in Iraq. 

The Lebanese newspaper, An-Nahar, reported that, in light of the economic conditions in Iraq, the 10 Lebanese banks in Iraq decided to re-evaluate the future of their existence, and a number of them found that there is no benefit in remaining in the Iraqi market. 

In this context, the newspaper said that the banks of "Fransabank" and "Lebanese Credit" applied to the Central Bank of Iraq to liquidate their branches in Iraq. In the details, the Banking Supervision Department informed the Commercial Banks Control Section in the Central Bank of Iraq of the decision of the two boards of directors of the Fransabank Bank and the Lebanese Credit Bank, which was taken on June 21 to liquidate and close the branches of these two banks in Iraq. On 28 of it the response came from the Central Bank of Iraq in two books, "An-Nahar" obtained a copy of them, addressed to the two banks' departments.

[DinarThug]

Parliamentary Integrity: We have information about all Iraqi money smuggled abroad, in numbers and names!

 

Policy  ,   03/07/2020 12:00   

 

 

Baghdad - Iraq today:

 

The Parliamentary Integrity Committee confirmed that it possesses complete information regarding the smuggled funds, pointing out that lists have been prepared to recover these funds from outside Iraq.   

"The committee has a complete list of the smuggled funds, in which the names of the people and the funds are located outside Iraq," the committee's rapporteur, Abdul Amir al-Mayahi said, adding that "Iraq has a lot of money abroad, part of which is frozen and the other is in dishonest hands."  

Al-Mayahi indicated that “the Corona pandemic prevented movement on those funds,” noting that “the Integrity Committee summoned the head of the money recovery department outside of Iraq to find out what before and after 2003 of the funds, and after the end of the pandemic, the file will be fully followed up.”

LINK

 

Edited July 4, 2020 by DinarThug

[davis411]

24 minutes ago, DinarThug said:

Parliamentary Integrity: We have information about all Iraqi money smuggled abroad, in numbers and names!

 

Policy  ,   03/07/2020 12:00   

 

 

Baghdad - Iraq today:

 

The Parliamentary Integrity Committee confirmed that it possesses complete information regarding the smuggled funds, pointing out that lists have been prepared to recover these funds from outside Iraq.   

"The committee has a complete list of the smuggled funds, in which the names of the people and the funds are located outside Iraq," the committee's rapporteur, Abdul Amir al-Mayahi said, adding that "Iraq has a lot of money abroad, part of which is frozen and the other is in dishonest hands."  

Al-Mayahi indicated that “the Corona pandemic prevented movement on those funds,” noting that “the Integrity Committee summoned the head of the money recovery department outside of Iraq to find out what before and after 2003 of the funds, and after the end of the pandemic, the file will be fully followed up.”

LINK

 

I like this

will be a big pile of cash if they get their hands on it

 

thank you thugs