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Mr. Sadr tweets on the budget and warns


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Just to add to the good news today.

 

MARCH 31, 202110:29 PMUPDATED 26 MINUTES AGO

Saudi Arabia, Iraq to continue cooperation to ensure stability of global oil markets: joint statement

By Reuters Staff

1 MIN READ

CAIRO (Reuters) - Saudi Arabia and Iraq agreed on Wednesday to continue cooperation within OPEC and with full commitment to the requirements of the OPEC+ agreement, according to a joint statement carried by the Saudi state news agency (SPA).

Saudi Arabia and Iraq agreed on “the need to continue cooperation and coordination of positions in the petroleum field, within the scope of work of the Organization of Petroleum Exporting Countries (OPEC) and the OPEC + agreement, with full commitment to the requirements of the agreement, the compensation mechanism, and all the decisions that have been agreed upon, to ensure the stability of the global oil markets,” SPA reported.

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AFTER WEEKS OF DELAY, IRAQ’S COUNCIL OF REPRESENTATIVES PASSES BUDGET FOR 2021     SULAIMANI —  After weeks of delays caused by disagreements between the political parties, Iraq

You have to learn to read between the lines... They aren't going to come right out and tell you that they are going to change your life forever!!!  Seriously Greedy!  You fluctuate moods more than I d

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AFTER WEEKS OF DELAY, IRAQ’S COUNCIL OF REPRESENTATIVES PASSES BUDGET FOR 2021

 

3132021163842143202113115993202112185491
 

SULAIMANI — 

After weeks of delays caused by disagreements between the political parties, Iraq’s Council of Representatives passed the Federal 2021 Budget Law on Wednesday (March 31) .

The session was scheduled for 1 p.m. but was delayed because of a lack of quorum. 

Voting began at 4:30 p.m. in the presence of 215 lawmakers out of 325 and concluded at 8:00 p.m.

The legislation set the price of a barrel of oil at $42, well below current Brent prices.

Among the major sticking points was the devaluation of the Iraqi dinar. 

The legislation set the US dollar peg at 1,450 Iraqi dinars.

After several hours of voting, lawmakers approved Article 11 of the legislation, which governs the Kurdistan Region's share.

It will receive 9.5 trillion Iraqi dinars ($6.5 billion), which will be disbursed in monthly increments, in return for submitting 250,000 barrels of crude oil per day to Iraq's oil marketer SOMO for export. 

 

The federal government WILL BE ABLE TO CUT OFF FUNDS IN THE EVENT OF NON-COMPLIANCE.

 

A number of Kurdistan Regional Government (KRG) officials, including KRG Deputy Prime Minister Qubad Talabani, were present at the Council of Representatives during the latter stages of the vote on the legislation to observe.
Talabani led many of the talks aimed at hammering out the deal between Erbil and Baghdad.

Lawmakers voted against Article 20 of the law, which would have introduced an income tax on the salaries of public sector workers, or Article 38, which deals with investment. 

Article 41 was tabled for consideration at a later date.

 

Also on the agenda is the presentation of a request submitted and signed by 172 lawmakers on whether to dissolve parliament early, but the meeting concluded without taking up the measure.

Before to the session, the Shia bloc held a meeting at the house of Hadi al-Amri, the head of the Fateh Alliance, to coordinate.

The Finance Committee held a separate meeting to amend some of the provisions in the draft and ready it for the vote.

The parliament’s media office said in a statement on Tuesday that the names of attendees and absences will be published publicly.

(NRT Digital Media)

This story was updated at 8:07 p.m. EBL 

LINK

47 minutes ago, DinarThug said:

Somebody Wake Up The Bro’s And Tell Them To Break Out The ‘Budget’ Bubbly ! :o 

 

:D  :D  :D 

AFTER WEEKS OF DELAY, IRAQ’S COUNCIL OF REPRESENTATIVES PASSES BUDGET FOR 2021

 

3132021163842143202113115993202112185491
 

SULAIMANI — 

After weeks of delays caused by disagreements between the political parties, Iraq’s Council of Representatives passed the Federal 2021 Budget Law on Wednesday (March 31) .

The session was scheduled for 1 p.m. but was delayed because of a lack of quorum.

Voting began at 4:30 p.m. in the presence of 215 lawmakers out of 325 and concluded at 8:00 p.m.

The legislation set the price of a barrel of oil at $42, well below current Brent prices.

Among the major sticking points was the devaluation of the Iraqi dinar.

The legislation set the US dollar peg at 1,450 Iraqi dinars.

After several hours of voting, lawmakers approved Article 11 of the legislation, which governs the Kurdistan Region's share.

It will receive 9.5 trillion Iraqi dinars ($6.5 billion), which will be disbursed in monthly increments, in return for submitting 250,000 barrels of crude oil per day to Iraq's oil marketer SOMO for export.

 

The federal government WILL BE ABLE TO CUT OFF FUNDS IN THE EVENT OF NON-COMPLIANCE.

 

A number of Kurdistan Regional Government (KRG) officials, including KRG Deputy Prime Minister Qubad Talabani, were present at the Council of Representatives during the latter stages of the vote on the legislation to observe.
Talabani led many of the talks aimed at hammering out the deal between Erbil and Baghdad.

Lawmakers voted against Article 20 of the law, which would have introduced an income tax on the salaries of public sector workers, or Article 38, which deals with investment.

Article 41 was tabled for consideration at a later date.

 

Also on the agenda is the presentation of a request submitted and signed by 172 lawmakers on whether to dissolve parliament early, but the meeting concluded without taking up the measure.

Before to the session, the Shia bloc held a meeting at the house of Hadi al-Amri, the head of the Fateh Alliance, to coordinate.

The Finance Committee held a separate meeting to amend some of the provisions in the draft and ready it for the vote.

The parliament’s media office said in a statement on Tuesday that the names of attendees and absences will be published publicly.

(NRT Digital Media)

This story was updated at 8:07 p.m. EBL 

LINK

 

43 minutes ago, 6ly410 said:

 

 

42 minutes ago, 6ly410 said:

 

 

23 minutes ago, psdon said:

IS ADAM READING all of THIS ?


If Not - We’ll Have Weegie Transcribe It For Him ! :o 

 

image.gif.59131e3123716a4a612be60bfa824c44.gif
 

:D  :D  :D 
 

Edited by DinarThug
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Also I notice in the budget they devalue the dinar....Why??? Not understanding the stance on devaluing the dinar again...."The new rates represent a dramatic reduction from the official rate of 1,182 IQD, the Iraqi dinar, which is pegged to the U.S. dollar. It is the first reduction in exchange rates that the government has made in decades.  The Central Bank set the new rate at 1,450 IQD when selling to the Iraqi Finance Ministry. The dinar will be sold to the public at 1,470 IQD and to other banks at 1,460".....Just need more clarification on the budget.......

 

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27 minutes ago, eburt said:

Ok that nice what about the HCL.....That is what we need to see in the budget....

 Not sure but according to Bieitling "HCL" is Not Needed.

 

Newshound Guru Brietling  Question: [The issue of the HCL or the Oil and Gas Law...Do you see this issue needing to be resolved before the value of the dinar increases?]   Nope.  They don't need it.  Period end of story.  How does that effect the rate of the dinar one way or the other?...The hydro Carbon law is they're talking about where the money is going that is brought in from selling energy.  Specifically US dollars.  It has nothing to do with the dinar at all.  

 

Karsten

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On 3/21/2021 at 1:33 PM, DinarThug said:

Here’s A Highlighted Version Of Bro 6ly’s Article ! B) 

The transfer of THE OIL AND GAS LAW to the next session

 
Al-Jabri announces the date for the approval of a very important law and the transfer of the oil and gas law to the next session 
 
 
03/21/2021 18:07:42
 
 
A member of the Parliamentary Oil and Energy Committee for the Alliance of Iraqis, Sattar Al-Jabri, announced, on Sunday, the date of the vote on the Iraqi National Oil Company law after its second reading by the House of Representatives.
 

Al-Jabri said {to Euphrates News} that "the Iraqi National Oil Company law that has been read {first and second} will be submitted for a vote after the approval of the federal budget law for 2021," describing it as "very important."

 

He added, "As for the OIL AND GAS LAW, 

the committee sent a letter to the oil ministers, asking him to speed up sending it to the Council of Ministers for the purpose of voting on it, then transferring it to the House of Representatives for preparation, maturation and passing it after the first and second reading."

 

Al-Jabri also referred to "the importance of the law prepared since 2007 in regulating oil revenues and revenues, which represents approximately 90% of the budget, and that in order to achieve justice in the distribution of wealth, this law, which has been delayed for years, must be approved." 

While he stressed, "the committee's keenness to complete this law and follow it up by the Ministry of Oil," noting that "the law has many disagreements and differences and needs a long time to complete it."

The Speaker of Parliament, Muhammad al-Halbousi, confirmed the existence of stalled laws that the parliament will proceed to legislate, such as the oil and gas law, which is one of the laws stipulated in the constitution, and which will address the mechanism of dealing between Baghdad and Erbil and between Baghdad and the rest of the oil-producing provinces, and the law will be one of the council's next priorities. 
 

For its part, the Ministry of Oil stressed on the 25th of last February the importance of expediting the passage of the Federal Oil and Gas Law, noting that the law will work to regulate the management of oil and gas wealth in Iraq.

It is noteworthy that the Oil Ministry’s

SUDDEN ANNOUNCEMENT OF THE OIL AND GAS LAW

coincides with marathon negotiations between Baghdad and the Kurdistan region regarding the latter’s share in the 2021 budget

and the mechanism for managing his oil file.

 

1 hour ago, DinarThug said:

Now Let’s Hurry Up And Read The Budget Into Law - And Move On To The HCL ! :o 

 

Let’s Bro ! :o 

 

image.gif.bf9f3fa1aa558a3a0cd7fe0575f8c094.gif
 

:D  :D  :D 

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2 hours ago, Rafiki1 said:

It’s my math off? The 1450 would be 88 cents to one Iraqi Dinar.

 

1 hour ago, Carrello said:

If it were 88 cents nobody would be here to answer your question.

 

They would be at a bank, a bar, or an airport.


One ‘Adam 12’ - We Have A Naked Clown Leading A Gang Of Streakers Towards The Bank ! :o

 

image.gif.f59a5ba0a6dd2efb4face1fa1460561a.gif

 

Please Make Sure That They’re Not Violating Any ‘Mask’ Orders ...

 

:D  :D  :D 

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43 minutes ago, DinarThug said:

One ‘Adam 12’ - We Have A Naked Clown Leading A Gang Of Streakers Towards The Bank ! :o

 

 

We’re on our way Adam 12.  

 

18089A98-E5E8-43B3-B914-2E31126FBFD9.gif.56a480f8c62d8bc0ba0092d2839cfcac.gif

 

We got detained dealing with an serious outbreak of mooning!!!  We had to book em because they were not wearing masks.

 

66D05532-280B-4CEB-98B2-A2E66A9B5AFA.gif.5ee3770b952bf45d18d400fc038df07a.gif  

 

ED334139-645D-4CEA-81B8-26A726768002.gif.1801600330d1c62f9394af5b5bf138c8.gif

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1 hour ago, Karsten said:

 Not sure but according to Bieitling "HCL" is Not Needed.

 

Newshound Guru Brietling  Question: [The issue of the HCL or the Oil and Gas Law...Do you see this issue needing to be resolved before the value of the dinar increases?]   Nope.  They don't need it.  Period end of story.  How does that effect the rate of the dinar one way or the other?...The hydro Carbon law is they're talking about where the money is going that is brought in from selling energy.  Specifically US dollars.  It has nothing to do with the dinar at all.  

 

Karsten

 

Karsten, I completely agree with Breitling. 

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43 minutes ago, Pitcher said:

We got detained dealing with an serious outbreak of mooning!!!  

 

We had to book em because they were not wearing masks.

 

26 minutes ago, boosterbglee said:

With all this said and done........where do WE stand now?


I’d Say Pretty Much Any Spot Immediately ‘Behind’ The Davis ‘Thong Squad’ Cheering Section ! :o 

 

image.gif.e317a9b769bc316354fb03c88f652477.gif

 

:D  :D  :D 

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Thanks for all the updates YA BIG THUG!!!!  :D

1 hour ago, DinarThug said:

 


One ‘Adam 12’ - We Have A Naked Clown Leading A Gang Of Streakers Towards The Bank ! :o

 

image.gif.f59a5ba0a6dd2efb4face1fa1460561a.gif

 

Please Make Sure That They’re Not Violating Any ‘Mask’ Orders ...

 

:D  :D  :D 

 

Re these two still alive?  I have their autographed pictures back from the 70's.

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2 minutes ago, DinarThug said:

 


I’d Say Pretty Much Any Spot Immediately ‘Behind’ The Davis ‘Thong Squad’ Cheering Section ! :o 

 

image.gif.e317a9b769bc316354fb03c88f652477.gif

 

:D  :D  :D 

Well after reviewing this

i really feel like doing some exercise classes 

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34 minutes ago, davis411 said:

really feel like doing some exercise classes 

 

It’s the Kardashian’s.  Can you guess which one is the mom.  😝 

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2 hours ago, Pitcher said:

Yes but they are old 


Compounded By The Fact That They’re Invested In Dinar ! :o 

 

image.thumb.jpeg.c9c167f831bc50f45524bb6743b3793e.jpeg

 

:D  :D  :D 

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Al-Kazemi: Parliament's approval of the budget is an important step forward

Wednesday 31st March 2021
 

alsabaah-72309.jpg

Baghdad / morning 

 
Prime Minister Mustafa Al-Kazemi considered the parliament's approval of the budget an important step forward.

Al-Kazemi said in his tweet: "The approval by Parliament of the federal budget is an important step forward despite the remarks, and evidence that solidarity work is what achieves progress and stability."

He added, "The approach of clash and crises will not lead us to a conclusion. Let us begin to work in the service of our people," stressing, "I look forward to completing the legislative framework for elections by ratifying the Federal Court Law.

LINK

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The sell currency window started as a temporary measure

Thursday 01 April 2021

alsabaah-72301.jpg

Baghdad: Mustafa Al-Hashemi

 

The Central Bank holds a daily auction (window) to sell foreign currency to banks, a measure it took after 2003 to raise the value of the dinar, which was collapsing during the 1990s, because this measure was proposed to be temporary until the currency stabilizes, according to the advisor to the Iraqi Institute for Economic Reform, It was decided not to continue with the currency selling window, so that the dinar was stabilized against the dollar in subsequent years, but it continued despite that.

Counselor Hussein al-Khaqani told Al-Sabah that "one of the central bank's duties is to stabilize the exchange rate by receiving proceeds from selling oil in dollars, and pumping dinars to the Ministry of Finance in return, to support the approval of the budget, especially the operational ones."


Al-Khaqani added, "Before the year 2003, the central bank did not work with this procedure, but the circumstances that came after that year made it necessary for the central bank to take a temporary measure that would raise the value of the dinar, which was very low against the dollar, and this procedure represented the opening of a window to sell the currency, in which it participated." Banks until achieving a balance in the market and adjusting the exchange rate. "

He explained, "The central bank receives two reports per day (morning and evening) on the prices of basic materials (food) within the daily market movement for the purpose of displaying or reducing the supply of dollars, in the window of currency sale, based on that."

The advisor to the Iraqi Institute for Economic Reform confirmed, "What the central bank sells now of dollars has decreased a lot from about 200 million dollars per day to much less, especially after adjusting the last exchange rate on the value of the dinar."

According to a statement by the Central Bank, its foreign currency sales amounted to 25 million, 905 thousand and 199 dollars yesterday, with the participation of 7 banks to meet the requests to enhance the assets abroad, and the Central Bank noted that data on foreign currency sales are sent to the General Tax Authority at the end of the fiscal year The Central Bank pointed out that "the classification of banks and companies depends on the level of compliance with the rules and standards of compliance with the Anti-Money Laundering and Terrorism Financing Law No. 39 of 2015, and the Central Bank's instructions regarding the sale and purchase of currency, and the classification does not represent an evaluation of the performance of banks, which is subject to other international standards."

For his part, the specialist in banking affairs, Samir al-Nusiri,suggested that the Ministry of Finance implement the window of currency sale under its supervision, and relieve the Central Bank of responsibility from it.

Al-Nusairi explained to Al-Sabah that the proposal is to assume the Iraqi Trade Bank affiliated to it, and the central bank’s role in working in the window of currency sale, by transferring the revenues of the Ministry of Oil’s sales of crude in dollars to the Ministry of Finance in dinars, and releasing the central responsibility from it.

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