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Canceling The Currency Auction, Reducing Borrowing, And “Isolating” The Central Bank’s Reserves ... The Most Important Thing For Hard Currency In The 2021 Budget !


DinarThug
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1 hour ago, Pitcher said:

Have a big ass party in Hawaii.  Unless you guys are still making visitors quarantine for 2 weeks.  Then we’ll go to Florida

Sounds like a plan my friend Pitcher. 👍🏼😀

No more 2 weeks quarantine, only 3 days.!

Aloha 🤙🏽

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2 hours ago, Pitcher said:

Oil was over 58 today.   


What Was That ‘Crude’ Remark ? :o 

 

:D  :D  :D 

 

 

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Economist: There is no justification for the continued rise of the dollar in light of the recovery in oil prices

 
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08:31 - 02/09/2021
 

Economic expert Wissam Al-Tamimi saw that there is no justification for keeping the dollar high in the local market in light of high oil prices and their recovery, pointing out that the siege of the people must end before the street explodes due to mishandling the citizen’s pension.

Al-Tamimi told "the information", that "the government went to the poor class to achieve financial gains at its expense, as it resorted to raising the exchange rate of the dollar and tightened customs procedures and fees on goods and goods amid the greed of the merchant who found nothing but raising the price of his goods to the citizen."

He added, "The government no longer has any justification for continuing to raise the dollar exchange rate in the local markets, especially with the recovery of oil prices and Basra Light crude exceeding the threshold of $ 60 a barrel." And that "the price of a barrel of oil, which exceeded the 60 dollars, is equivalent today to 87 thousand dinars, while the price of oil a year ago recorded the same price in dollars, but it is less valuable in dinars, and the government achieved large revenues at that time and was able to overcome the budget deficit."

He explained that "the government's continuation of this approach towards the citizen will make the street explode with anger, as there is no justification for the continuation of the current economic policy." 
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Just now, Engine1 said:

D-thug. 

I like your last post, it sounds positive.  I would explain more but if I did, I would get those positive comments my way, and I am not used to anybody reacting positive towards my post.  I am usually not positive. But it sounds good. 

Lets hear it!! 

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8 minutes ago, Engine1 said:

D-thug.  I like your last post, it sounds positive. 
I would explain more but if I did, I would get those positive comments my way, and I am not used to anybody reacting positive towards my post. 
I am usually not positive. But it sounds good. 


Fire It Up Engine1 ! ;) 

 

 

And Here’s Another One Where When U Read It - Is Definitely More Glass Half Full Than Davis Chugging It Empty ! :o 

 

:D  :D  :D 

 

 

LINK

Optimism and pessimism ... the Baghdad and Erbil disputes may end the oil boom

 

Optimism and pessimism ... the Baghdad and Erbil disputes may end the oil boom

 

9th February, 2021

Optimism about the rise in global oil prices after reaching about $ 60 per barrel, which contributes to addressing the deficit in the Iraqi budget, offset by pessimism due to the lack of solutions between the governments of Baghdad and Erbil, which pushes towards postponing the vote on the budget at a time when there is a need to quickly close this The file, and preparing for the upcoming elections scheduled for next October.


While a member of the Finance Committee in the House of Representatives, Ahmed Hama Rashid, confirms that the high oil prices will contribute to bridging the budget deficit, it indicates that the differences between Baghdad and Erbil have not ended until the moment.

Rashid said in an interview with Alsumaria News, "An increase of every dollar on a barrel of oil increases Iraq's revenues about one billion dollars, that is, one trillion four hundred and fifty billion Iraqi dinars, and this contributes to addressing the deficit in the budget." On the differences between the center and the region, Rashid explained that "the differences between the federal government and the regional government have not been resolved until the moment," noting that "the Finance Committee is awaiting what the two parties can reach in the coming days."
 

Regarding the reason for not heading towards the constitution to remove obstacles between the two parties, he believes that "the problems between Baghdad and Erbil cannot be resolved through the constitution because it is written in a hurry and contains articles that need to be reviewed." As for the date of approval of the budget, a member of the Finance Committee suggested that it "be approved within the next week."


"The two-year budget"
 

In the same context, the deputy of the Kurdistan Islamic Union, Jamal Cougar, believes that the current budget is the two-year budget, due to the proximity of the elections and their consequences.

 
Regarding the committee's meeting with the Prime Minister, Mustafa Al-Kazemi, Cougar confirmed to Alsumaria, "The government has shown its willingness to implement what the Finance Committee deems in the House of Representatives, and the need to pass the budget away from political bickering and discordant voices that do not want to be approved." He pointed to "the signing of a memorandum of understanding between the two offices of financial oversight in the central government and the Kurdistan Regional Government," stressing that "what was agreed upon between Baghdad and Erbil and what was included in the budget in this regard was the complete conviction of both parties."
 
Cougar, a member of the Finance Committee, stated that "the budget will approve the price of 42 dollars per barrel, and as long as oil prices continue to rise from the current price of about 60 dollars, there will be a cash surplus, and a supplementary budget is prepared for it."
 
According to Cougar, "The Finance Committee asked Al-Kazemi, before going towards the vote, to hold a session that includes the Presidency of the House of Representatives, the Prime Minister, the concerned ministers and heads of political blocs, to agree on the instructions for implementing the budget to avoid falling into the mistakes that we made during the previous budget." Voting on the budget at the beginning of next week." 
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18 hours ago, Pitcher said:

Oil was over 58 today.   

I believe the price of oil in the 2021 budget is $45 a barrel 

I see a SURPLUS 💵💵💵💵

16 hours ago, ChuckFinley said:

I am open for a 2 week quarantine party in Hi. 

I will be here ready with the Mai tai’s 🍹 🍹🍹

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The Kurdistan Region delegation arrives in Baghdad to resolve the budget crisis

 

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10th February, 2021


An informed source said that the Kurdistan Region delegation had arrived in Baghdad on Wednesday in order to resolve disputes regarding the region's share in the federal financial budget for the current year.

The source told Shafaq News, "The KRG delegation arrived in Baghdad to finalize the agreement with the Parliamentary Finance Committee and the federal government regarding the region’s share in the budget.

The delegation arrives a few hours after the head of the Kurdistan Regional Government, Masrour Barzani, refused to respond to the demands of Shiite forces to hand over the oil file to the federal government.

Barzani said in a press conference in Erbil, that this matter violates the constitution and violates the rights of the Kurdistan Region, indicating that the region will depend on its financial revenues, although they are few, in case they do not reach an agreement with Baghdad, similar to past years.

Barzani accused political blocs of using this file for political bidding and propaganda for the upcoming early parliamentary elections, but he confirmed his government's commitment to the agreement concluded with Baghdad on the budget. 

Last December, Baghdad and Erbil reached an agreement on the financial budget, which provides for the region to deliver 250,000 barrels of oil per day, and half of the border crossings and other revenues to the federal government, in exchange for a budget share of 12.6 percent.

The agreement was included in the draft budget, but Shiite political blocs reject the agreement, which hinders its passage in Parliament.

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The Kurdish delegation arrives in Baghdad ... New concessions in an attempt to agree on the budget

 
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16:51 - 10/02/2021
 
 

A delegation of the Kurdistan Regional Government arrived in Baghdad shortly before, headed by Vice President of the Kurdistan Regional Government, Qubad Talabani, and a group of ministers and officials in the region.

The / Al-Malouma correspondent said that the delegation will meet with a group of political blocs, headed by the Al-Fateh Alliance, the State of Law and Sairoun, in a final attempt to settle the region’s share in the budget.

The correspondent added, quoting an informed source that, the delegation received full powers, after the meeting of the Council of Ministers of the region this morning, and that the delegation will make other concessions between them, the presence of full control from the federal government over the management of the oil file and ports in the region, in order to ensure the stabilization of Kurdistan’s share in the budget.

The President of the Kurdistan Regional Government indicated today in a press conference that the region does not accept to surrender all of its oil, because it has many obligations.

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Parliamentary Finance: Only the share of Kurdistan remained in the budget

 

image.jpeg.cffb074b95963330e3a7af8063562b6d.jpeg

 

10th February, 2021


The Parliamentary Finance Committee confirmed, on Wednesday, that only the share of the budget remains in the Kurdistan region.

The head of the committee, Haitham al-Jubouri, said in an interview carried by Al-Iraqiya Al-Akhbariya, that "only some tables and the share of the Kurdistan region remain to end the amendments to the Federal Budget Law for the fiscal year 2021."

In turn, committee member Adnan Al-Zarfi said, "The committee has finished discussing and amending all the budget paragraphs."

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:o 

 

:D  :D  :D 

 

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Al-Haddad: A great rapprochement between Baghdad and Erbil on the outstanding issues and files

image.jpeg.b5b357e44c58dd9cc6e0722cfc00d7f2.jpeg

 

10th February, 2021


Deputy Speaker of Parliament, Bashir Al-Haddad, confirmed, on Wednesday, that there is a great rapprochement between Baghdad and Erbil on the issues and pending files between the two parties.

Al-Haddad said, in a statement that Mawazine News received a copy of, that "the meeting that took place between the two financial oversight offices in the federal government and the Kurdistan region was positive, and the dialogues are continuing to reach a common vision in order to find solutions by invoking the constitution to solve problems between all parties." 

He added, "The discussions between the negotiating delegation of the Kurdistan Regional Government with the Parliamentary Finance Committee were transparent and serious to resolve differences, and there is convergence between Baghdad and Erbil regarding the outstanding issues and files between the two parties, especially the Federal Budget Law for 2021, which is considered one of the most important laws because it affects the lives of citizens in all governorates of Iraq."

He stressed, "There is a rapprochement between Baghdad and Erbil on the contentious issues between the two sides, defining oil commitments and agreements, and preparing the appropriate ground and atmosphere for the continuation of understandings and the primacy of the supreme national interest while preserving national consensus and partnership and bypassing the policy of imposing wills."

He stressed, "The necessity of not resorting to settling disputes on the basis of the principle of the majority and the minority, and the constitutional entitlements of the main components must be fixed, fairness for all, and the Budget Law should be removed and separated from political differences."

 

Edited by DinarThug
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21 hours ago, Pitcher said:

Oil was over 58 today.   

 

Moe, Moe, Moe ! :o 

 


She Cried Moe ...

 

:D  :D  :D 

 

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Al-Hakim: Oil prices may reach $ 100 in the coming months

 
%D9%85%D8%AD%D9%85%D8%AF-%D8%B9%D9%84%D9
 
 
08:42 - 10/02/2021
 
 

On Wednesday, former Foreign Minister Muhammad Ali al-Hakim suggested that oil prices would rise to $100 in the coming months, while he wondered about the government's existence of a clear development plan with agriculture and local industry as the basis.

Al-Hakim said in a tweet on his page on the social networking site, which was seen by the information, that "oil prices are on the rise and may reach $ 100 a barrel during the next 18 months."

Al-Hakim asked, "Does our government have a clear development plan in which agriculture and local industry are the basis for supporting the private sector and certificate holders in establishing small companies instead of doubling the size of the state and giving contractors projects that were not implemented as before?" 

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Since the adoption of the new dollar price, the Central Bank's sales decreased by more than 7 billion dollars compared to previous periods


2021-02-10
 
132287274_848362129064271_50896625719928

 

Yes Iraq: Baghdad

 

A government source revealed that the Central Bank of Iraq auction sales had decreased to more than 7 billion and a quarter billion dollars since the new exchange rate was approved.

The official news agency quoted the source as saying, "The Iraqi Central Bank auction sales have decreased to more than 7 billion and a quarter billion dollars since the approval of the new exchange rate, compared to the same period last year."

He added, "Corruption outlets have decreased after the new exchange rate was approved, and the decision also contributed to preserving hard currency," after sales in the past represented corruption for the owners of exchange and remittances.

On December 19, the Iraqi Central Bank formally reduced the value of the dinar against the US dollar, in response to growing economic pressures, including the decline in oil prices

The bank set the new official exchange rate at 1460 dinars to one dollar, instead of 1182 dinars to the dollar, which reduces the official value of the currency by about a fifth

LINK

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