Tuesday, March 12, 2024

"IMPORTANT IRAQ NEWS: Financing the region with about 130 billion dinars to pay retirees’ salaries and care" BY CLARE, 12 MARCH

CLARE: 

Financing the region with about 130 billion dinars to pay retirees’ salaries and care

3/12/2024

Finance: March salaries will not be released until after the completion of the localization of entitlements,
financing the region with about 130 billion dinars to pay the salaries of retirees and care

Baghdad - Qusay Munther 

The Ministry of Finance directed to fund the Kurdistan Region’s account with more than 130 billion dinars to pay the salaries of retirees and those covered by care, after the decision of the Federal Supreme Court to provide justice to the beneficiaries, similar to other provinces. 

The Ministry said in a statement yesterday, “Based on the directives of the Prime Minister and the approval of the Minister of Finance, and based on what was stated in the letter issued by the Federal Supreme Court, we directed to take the necessary measures to deposit an amount in the current account in the name of the regional government, in order to disburse the entitlements of the disabled in the directorates of the Social Protection and Welfare Network.” and Social Development in Kurdistan for the month of February last, noting that the amount was credited to our current account open with the Central Bank of Iraq. 

He added that “another amount was deposited to disburse the entitlements of civilian and military retirees in the region for the same month.” He pointed out that “the Ministry informed the Federal Court in It wrote that funding for salaries for the month of February was launched for the region, since the localization mechanism requires a period of time for this month only, and salaries for the current month of March will not be released until after the requirements for salary localization are completed by the region), holding (the regional government) the legal responsibility for the validity and accuracy of the information. 

And the data presented before the regulatory and legal authorities and bodies, and the responsibility of disbursing salaries to those actually entitled to them), 
stressing (providing them with a position on the extent of the region’s commitment to what was stated in the Budget Law in Articles 11 and 12 of the quantities of crude oil exported or received from the regional government on a monthly basis, and considering it as a work context followed in each month of Without the need to approach you, it will be returned to our department as of the 25th of each month, in addition to quickly providing us with a position on the quantities of crude oil exported or received from the regional government).

Baghdad's cessation of paying regional development allocations to the region's governorates 10 years ago, amounting to more than two trillion dinars, led to the cessation of hundreds of projects, including 250 projects in only one governorate. The head of the Parliamentary Regions and Governorates Committee, Kurdo Omar, said, “The committee intends to host Finance Minister Taif Sami to explain the reasons for not disbursing regional development allocations to the governorates of the region,” stressing that “there is a consensus in the committee on this matter,” and added that “the committee is waiting for the amendment of the budget law, especially Other governorates suffer from the same problem, as a small percentage of these allocations were disbursed, reaching 30 percent in some governorates, and the reason is red tape and corruption,” noting that “the allocations for regional development amounted to 3 trillion and 500 billion dinars in 2015, and 1 trillion and 244 billion dinars.” dinars in 2016, 375 billion dinars in 2017, 5 trillion in 2018, two trillion in 2019, and 4 trillion in 2021), and he continued that (the total allocations for regional development in 6 budgets amounted to 16 trillion and 120 billion dinars, and the region’s governorates’ share of it was according to a percentage 12.67 percent (more than two trillion dinars).


LINK

"RV UPDATE" BY NADER FROM MID EAST, 12 MARCH

 Nader From The Mid East  

 Article quote:  "The Iraqi government and the Central Bank are dissatisfied with the nature of the US treasury's dealings with Iraqi banks...There is an effort to lift the sanctions..."  They need to take off the sanctions of Iraq IQD.

A lot of good news come out yesterday and I'm very happy...You know what?  I'm excited.  I'm very excited what's happening.

  Article:  "Data from the Central Bank of iraq show a decrease in the amount of printed currency by 1.2 trillion dinars between the months of November and December 2023 while indicating this decrease in the amount of currency is the 3rd largest decrease recorded in 20 years..."

  Very good news, IQD decreasing.  Wow.

 The RV will not happen if no one declares the end of the war...we still on war.  In  December 2021 they took troops out... but they never declared the end of the war...and they never took out the international coalition.  

For everything to happen they have to declare the end of the war.  The international coalition have to be out of there.   The soldiers of United States have to be out of there.  Of course they're going to bases in Iraq but they're going to keep friendly bases in Iraq...not for war...I don't think Biden is going to do it.   

"THE SAGA OF THE IQD RV CONTINUES: THE CBI IS FOLLOWING THE 2011 DR. SHABIBI AND IMF PLAN?:"GOOD NEWS! THE NEW IRAQI OIL LAW WILL NORMALIZE IRAQ", BY MNT GOAT, 12 MARCH

 MNT GOAT

...The saga about the Iraqi dinar RV continues. It is what you don’t know that can cause you some stress and anxiety. Even I sometimes want to rush the RV process and I have to step back and relax. I have to ask myself if the CBI is following the 2011 Dr Shabibi and IMF plan. 

As long as they are following it, I am very happy and so should you. As we all know Iraq is NOT working on our timetable as their newly formed government is sometimes very slow to act...

GOOD NEWS! THE NEW IRAQI OIL LAW WILL NORMALIZE IRAQ
THE NEW IRAQI OIL LAW UNDERMINES THE DREAM OF KURDISH INDEPENDENCE

The new Iraqi oil law undermines the dream of Kurdish independence with the increasing importance of the role of energy resources in the independence of countries, the oil dispute between Baghdad and Erbil cannot be viewed as a mere emergency dispute, but rather extends beyond that to political calculations  related to the option of Kurdish independence and providing the infrastructure for this independence.

Baghdad – Analysts believe that the new oil law being prepared by the Iraqi government in Baghdad will be the final factor that will end the dream of independence for Iraqi Kurdistan, which in turn will affect the future of Western oil companies operating in the region.

On February 21, the Federal Supreme Court ruled that the Iraqi Kurdistan Regional Government must hand over “all oil and non-oil revenues” to Baghdad.

(This is a solid start to getting the Oil and Gas Law completed and to parliament for a vote. This must be completed to finish a Constitutional requirement to fully implement the new 2005 Iraqi Constitution. This was told to me a decade ago that this is critical to normalizing Iraq. So this is all excellent news for us today.)

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

MAJOR NEWS; Iraq OPEC IQD Vietnam Rates Latest News DRP BY SANDY INGRAM

Ministry Of Planning: Inflation In The Country Has Risen To (4.5%), 12 MARCH

Ministry Of Planning: Inflation In The Country Has Risen To (4.5%)

Economy | 03/11/2024   Mawazine News – Baghdad  The Iraqi Ministry of Planning confirmed that the cumulative inflation level in the country has risen to approximately 4.5%.

The spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, said in an interview followed by Mawazine News that the last monthly inflation in January 2024 was higher by 0.4% compared to what it was previously.

Abdul Zahra Al-Hindawi added that the annual inflation index rose by the same percentage compared to what it was in January 2023, meaning the cumulative inflation became approximately 4.5%.

Regarding poverty levels in the country, a spokesman for the Iraqi Ministry of Planning explained that “data from the survey results regarding the level of poverty in Iraq will be released after about two months.”

 Abdul Zahra Al-Hindawi pointed out that the aforementioned survey was conducted in all governorates, including the governorates of the Kurdistan Region.

Although Iraq is considered one of the oil-rich countries, it suffers from a continuous rise in poverty rates, amid government promises to take measures to address them, but they have not achieved the desired results.

The data now approved by the Ministry of Planning, which dates back to the year 2018, indicates that the poverty rate in Iraq is 21%, and in the governorates of the Kurdistan region it is about 6.5%.

Inflation is an increase in the general level of prices of goods and services, and the Consumer Price Index (CPI) is the most common and used indicator, as it tracks the average level of prices of goods and services that a family consumes.    https://www.mawazin.net/Details.aspx?jimare=243647

"RV UPDATE" BY MNT GOAT, 12 MARCH


 https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 12 MARCH

   Frank26 

 [Iraq boots-on-the-ground report] 

  FIREFLY: Saleh is on television talking about Iraq's financial situation.  He said...we have enough reserves to back a stable exchange rate...

  FRANK:  That's the reinstatement of your currency.  That's going to be the float eventually too.

  FIREFLY:  ...He says we are capably of many other things besides oil, our country is powerful, growing and the world knows it.  

FRANK:  Have you noticed the only topic in Iraq is about the exchange rate of a new currency that is coming to you?

 FIREFLY:  Economic experts on television saying Iraq has a lofty exchange rate to uncover...  

 FRANK:  Do you understand the word lofty...The word lofty means at its highest, at a pinnacle.  They are telling you they have an exchange rate they are about to give you that will be lofty for your currency and for you...that is the opposite of a program rate...

https://dinarevaluation.blogspot.com/2024/03/iraq-boots-on-ground-report-by-firefly_01642138902.html

 FIREFLY:  TV is saying we are now using the best and most improved international electronic payment system they said it's one of the best in the world with all the security features and all of this is from the CBI...  FRANK:  The electronic payment system is a huge key to the monetary reform for the float...Notice everything is coming from the CBI and not one word of negativity from anybody else.

  FIREFLY: TV is saying investment in Iraq is over the last three years up 60%. 

 FRANK:  The world is pouring in and they can...

 FIREFLY:  It's a great sign of stability and security and they're saying with these projects on board investments are only going to go up from there to an all-time high... FRANK:  All these reports are good.  I believe soon you will be celebrating a new exchange rate for your lower notes.

FIREFLY:  Parliament Finance is calling in the CBI to open bank branches outside of Iraq.

 FRANK:  Too late,   That's been going on a while!  All last year we already told about the private banks of the CBI - They're going to retrieve the 3-zeros outside of Iraq because 97% or more is already been retrieved inside...The satellite banks are all over the world right now are ready to collect the 3-zero notes...All of these actions are to introduce the new exchange rate and the new national sovereignty to you, Iraqi citizens. 

FIREFLY:  Bank friend...in his opinion a new rate that will float.  We're going to have gateway from Iraq to European side in trading.  It will be amazing...The deletion of the zeros is near...Four different experts of the economy being sent to us by the CBI saying what is needed to be done with the zeros.  It's no secret. 

 FRANK:  He's 100% correct.  I keep telling you it's here.   

https://dinarevaluation.blogspot.com/2024/03/iraq-boots-on-ground-report-by-firefly_01835992855.html

An Inside Look At Iraq’s “Fuel Smuggling Market”: New Developments And Smugglers “Suffering”, 25 NOV

  An Inside Look At Iraq’s “Fuel Smuggling Market”: New Developments And Smugglers “Suffering” Economy   2024-11-23 | 1,627 views   Sumerian...