Iraq joining the membership of the European Bank for Reconstruction and Development
Iraq has become a member of the European Bank for Reconstruction and Development (EBRD) following the House of Representatives’ approval of the accession statute, according to a statement released today, Wednesday, by the Ministry of Finance’s Iraqi Fund for External Development.
This is in line with the Ministry of Finance’s goal to improve frameworks for cooperation and communication between Iraq and international financial institutions, according to a statement obtained by that organization. It also follows the Fund’s ongoing coordination with the management of the European Bank, the completion of Iraq’s contribution process, and the completion of all documents related to accession.
He stated, “Joining will enable the European Bank to finance projects within the country, promote development of various sectors, support the entrepreneurship initiative, and support the private sector through investments and participation in policy dialogue and technical assistance.”
It should be mentioned that the international development bank with its headquarters located in London is the European Bank for Reconstruction and Development (EBRD). With a focus on assisting the private sector and its investments in advising and political activities, the bank utilizes investment as a vehicle to reconstruct market economies in recipient nations. Additionally, the bank assists nations in creating laws that support markets for renewable energy sources or energy self-sufficiency.
Welcome, everybody to the big call tonight. It's Tuesday, March 19TH and you're listening to the Big Call – appreciate everybody tuned in wherever you’re located all over the globe - We appreciate our SAT team getting the call out to man, let's say Tuesday night a week ago we were at 17.2 million listeners. So we hope we're at that level or higher tonight. And, well, we're excited to be here. let's do this - let's pray the call in.
Well, it's time to talk about Intel. – It’s time to talk about where we are - We're in a really good place. I've got a few things to cover. Let's cover this first, when we talked about getting the exchange complete – the zim, other currencies if you have them completed.
You'll have access - this is new information, you'll have access to 1% of your total that you can move from your quantum account to your Wells Fargo primary account, let's say - 1% of the total for the first 12 to 15 days. After 12 - 15 days, you'll be able to get access to all of it.
I'm not gonna sit here - zim is still a bunch of money - even if you only have a few notes - 1% is like extra money, even if you only have a few notes. So that's new.
Now let's go to bondholders - bond holders can get access to 1% of their funds also, but that has to last for 90 days - after ninety days, I say the 91st day bondholders get access to all of it. So you guys understand the distinction I am making here.
Zim holders - currency holders. Generally speaking, if you only have currency and no zim, you're fine. You're not going to be restricted by this. But if you're a Zim holder, you get access to 1% So the first 12 to 15 days. Let's go two weeks. After that, you get access to the remaining 99 percent of your exchange or your redemption of zim .
Okay, let's get that out of the way.
The other thing is, as of 9am, this morning, Tuesday morning, all of our 23 countries are going up in value. All of their currencies are going up in value. All of them made it known that their currency - be like this is true with the Iraqi dinar – and all other 22 countries that are going up in value plus the dinar – they made that available made it known internationally.
So the people out there there are into currency to the current speed on the various countries all of them as of nine am this morning. Their rates were made known internationally.
Now today the rates were on the screens and trading upward. They were blinking and trading about every seven or nine minutes - you got a new rate but it is blinking -
Then right after business hours in the banks closed today, screens went dark - We believe they're going to come up with all new rates tomorrow.
Okay. Now here's the timing mechanism of where we are now. Bondholders in tier three are some of them been notified already - but not all – and we believe they will be notified Further and start exchanges we believe - I mean have access to their funds, most likely Thursday.
Now we in teir four B - the Internet Group is the largest group by far - are supposed to be notified depending on the timezone - this is where it gets a little tricky, either around 12:30 Maybe central tomorrow or 1:30 pm Eastern tomorrow - Our notifications are supposed to come out - Let's call it after lunch tomorrow - early afternoon we’re supposed to get notified. Then we set our appointments and as we get to Charlie Wards Thursday, exchange on Thursday.
So notifications tomorrow afternoon. Eastern time let's call it 1:30 - 2 o'clock and it may be in the same time in every time so you guys you know I've had that theory. They bought that theory they agree that's what it's going to be so whatever it is, Let's call it after lunch whenever it comes out - We set our appointments and then we exchange starting on Thursday. That says as it is right now.
Okay, lets hope nothing changes, and that's exactly what happens.
Now here's an interesting thing that we received from one of our sources about the r&r, the restitution and I call it reclamation allowance. They've actually got another name for it. But I'm going with r&r The new name is still got the R so we're taking on r&r The r&r should occur either - this is what we've been told - Either tomorrow, which is Wednesday, or Thursday – Now my theory is it will be Thursday because of the two days tomorrow or Thursday……..
First of all, if we're going in setting appointments and exchanging our currencies thursday, what would happen if that people that are not in the currencies, especially 62 and older, they're on Social Security are going to get their r&r lump sum deposit -- one lump sum deposit - if you're 60 and older, and if you're on Social Security, you get it in your bank account where you normally receive your social.
You get it direct deposited as a lump sum into that account. So we can be looking for that tomorrow or Thursday. If you're older and you're on social 62 and older. It'll be a lump sum, it'll be a pretty big chunk of money.
That's gonna blow people away. Plus, let's say you're not in the currency and all of a sudden you've got 10s of millions of dollars or more in your Social Security account. – it was unannounced – you had no clue about this - But you get this in your account. You go oh my gosh, what is this. Wow. Okay, and then peep so that sort of cover if you will, for everybody getting money. And if you're younger than 62 - It's tiered downward to where the youngest people would get it over three years, the middle tier of age gets it over two years
And then the older people that are - say, I don't know where the breakdown is guys. I'm gonna say 50 to 61 – maybe the uppermost tier to get to over 1 year to get paid this money out from their restitution reclamation. They get that paid out over one year's time. The middle tier might be over two years and the youngest tier three years .
And this is with agreement, a signed agreement that you would keep your job or if you don't have a job – get a job - and this would continue to pay out over that period of time.
Now, let's talk about the increase in Social Security that I do not believe is happening this month. For any of us - I don't see that increase happening -, but it does happen – let’s say it's in April. It's going to take Social Security people in the 4400 $4,900 month range - somewhere in that range - a 4400 to $4900 a month. That's a nice livable wage for social security
If you're in middle America, obviously if you're in New York, or LA it's not as big a deal, but it is in the heartland of America –
So I'm trying to think if there's anything else that matters to us right now. that's important for us to set the exchange up under your master trust.
If you don't, they would like to have a trust in 10 days or less. That up it's for your own asset protection Need to get that going
I would say --- obviously the bankers have trust capabilities at Wells Fargo. and that's certainly an option unless you already have an attorney specializing in asset protection And creating that for you. So be aware of that.
Otherwise it looks like we’re going to get a shotgun start on bondholders and us - we should be getting notified tomorrow. We should be exchanging on Thursday, you know, right on through the end of the month, Thursday, Friday, Saturday, all the way through Sunday everything.
So that's what I wanted to say that a few guys and that's really, really where I am on this. And I believe its good news -, the R & R is good , and the idea of maybe getting notified tomorrow then going from there is really very, very good - So lets see how this thing comes together for us. Let's see how it manifests, and we look forward to getting this started this week. Let's just pray the call out.
The ministry’s intention to stop importing gasoline is moving forward within the allotted time frame, as the Petroleum Products Distribution Company stated on Wednesday that the quantity of gasoline imports had dropped by half after the Karbala refinery was put into operation.
“The Ministry of Oil has drawn up a plan within a time limit to end the process of importing petroleum derivatives, especially gasoline,” stated Hussein Talib, general manager of the company. He also mentioned that “after operating the Karbala refinery, the amount of gasoline imported decreased to 7 million liters after Iraq was importing 14 million liters.”
Taleb went on, “Once the North Refinery is operational, gasoline imports will drop to 4 million liters,” adding that “national refineries’ increased production capacity will make up for the remaining gasoline imports.”
Talib made the observation that “after local production reached self-sufficiency, Iraq has ended the issue of importing other products of gas and white oil.”
Bank friend says...Al-Sudani is making an announcement during Ramadan remember
? He'll go to Washington DC but after he comes back I believe that this rate [1.32 dinar to $1.00} with the deletion of the zeros will coincide with the WTO. We are basically in a countdown.
FRANK: ...The final countdown. Let's roll! I think when they finish with Washington DC and they come back, we may see what we're looking for.I am crazy excited your prime minister Al-Sudani and the governor of the CBI Alaq and the board of directors are constantly telling you they're going to give you 1.32 dinars to $1 and a new exchange rate to match it with lower notes...It looks like the next two weeks will be very loud on the monetary reform education.
Iraq signs with Siemens to convert burned gas into fuel for electricity within 6 months
In the German capital, Berlin, the Pastor of Power, Ziad Ali Fadel, consented to a significant arrangement with Siemens Energy Organization, to put resources into related gas and convert it into electrical energy, determined to address the issues of residents in a practical and safe way.
Fadel said in an explanation by the service, a duplicate of which {Al-Furat News} got, that “the understanding comes as a feature of the endeavors of the Iraqi government, headed by Muhammad Shiaa al-Sudani, to end the peculiarity of gas consuming and put it successfully in producing electrical energy, as well as inside the structure of its obligation to the choices of the Paris environment gathering in Safeguarding the climate and giving sustainable power sources.
He made sense of that “the understanding is portrayed by quick execution, as it incorporates effective financial planning around 120 million standard cubic feet (meaqf) of gas inside a brief time of a half year, and an extra 120 (meaqf) inside a time of one year, and the gas delivered will be utilized to lay out An electrical station with a limit of 2000 megawatts, to upgrade the capacities of the electrical organization and guarantee the strength of supply hours.
As far as concerns him, President of Siemens Energy, Christian Bruch, commended the endeavors made by the Iraqi government to defeat the difficulties and obstructions that have confronted the energy area over numerous years, focusing on that Iraq has prevailed during the beyond couple of years in laying out numerous framework projects that will contribute In building genuine abilities for the country’s energy area.
