Evening News with MarkZ and Dr. Scott Young. 04/11/2024
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
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Al-Maliki’s coalition sets the date for the second round of talks to form a government in Diyala
The Province of Regulation alliance set, on Thursday, the date for the second round of conversations to shape the Diyala government.
An individual from the Diyala Chamber for the Province of Regulation Alliance, Turki Al-Otbi, said in a meeting with : ” The Territory of Regulation Alliance fostered a guide for the development of the nearby government in Diyala after Muayyad Al-Obaidi declared his possibility for the place of lead representative, bringing up that “his most memorable rounds with the Essential and Legitimacy records were extremely sure.” He added ,
“The second round of conversations to shape the Diyala government will start next Sunday, that is to say, after the finish of the favored Eid al-Fitr occasion, focusing on that” law and order has gotten positive messages by supporting its competitor and continuing with the development of a solid nearby government equipped for dealing with the governorate’s emergencies and its different difficulties.
Hasm, a moderator, leaned toward the development of a Diyala government inside a brief period considering Al-Rawi’s concurrence with most political powers in regards to the need of shaping a consensual government that incorporates all parts as per the standard of support in the choice.
Diyala experienced the intricacy of framing a neighborhood government because of the distinctions between its powers inside the common gathering and the absence of outcome in meeting any understanding. A meeting regardless of 4 endeavors.
THE DOLLAR IS ON THE SUDANESE DIALOGUE TABLE IN WASHINGTON.. AL-AWADI TALKS ABOUT THE FUTURE OF THE IRAQI DINAR
The Iraqi government spokesman, Bassem Al-Awadi, confirmed today, Thursday (April 11, 2024), that the dollar file and the work of banks will be strongly present during the visit of Prime Minister Muhammad Shiaa Al-Sudani to Washington, suggesting that the dinar’s situation in the future will be better.
Al-Awadi said in an interview with “Baghdad Today” that “after the issue of activating the strategic framework agreement between Washington and Baghdad and the security aspect, the economic file will be present and strongly during the Prime Minister’s visit to the United States,” indicating that “the relationship with the US Treasury and the Federal Bank continues and the dialogues are ongoing.” “It did not stop with them over the past year , as there were several mutual visits, announced or unannounced, to discuss this file.”
Al-Awadi added, “The Sudanese will discuss the issue of banks and the economic and administrative reform of financial institutions and banks, as well as the dollar file,” explaining that “the price of the dollar ranged within the range of 147 thousand dinars for every 100 dollars during the short period at a time when the government took over its duties and the price of the dollar against the dinar was approaching.” From 148 thousand, meaning that the price is lower than before.”
He stressed that “the solution to the dollar crisis does not come with the push of a button. Rather, it requires economic reforms and includes many aspects, including political and economic ones. It needs a period to regulate the banks and reap the fruits of the central bank’s packages and the government’s decisions, which as a whole have begun to bear fruit through a gradual decline in the exchange rate of the dollar against the dinar.” “, stressing that “there are assurances from the economic team supervising the issue, and we expect that the situation of the dinar will be better in the future.”
It is hoped that, a few days from now, Prime Minister Muhammad Shiaa Al-Sudani will visit Washington and the White House to meet with US President Joe Biden.
Last March, the White House announced that on April 15, the White House would receive the Sudanese President, stressing that the leaders would reaffirm their commitment to the Strategic Framework Agreement, and would work to deepen their shared vision for a secure, sovereign, prosperous Iraq fully integrated into the broader region.
He pointed out that President Biden and the Sudanese Prime Minister will consult on a range of issues during the visit, including our shared commitment to the permanent defeat of ISIS and the development of the military mission nearly ten years after the formation of the successful global coalition to defeat ISIS.
He stated that they will also discuss the ongoing Iraqi financial reforms to promote economic development and progress towards Iraq’s energy independence and modernization.
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/The Sudanese advisor announces the start of implementing the reform plan in government and private banks
The Top state leader’s Counselor for Monetary and Monetary Undertakings, Mazhar Muhammad Saleh, affirmed today, Thursday, that Top state leader Muhammad Shia’ al-Sudani is keen on changing the way of the private and legislative financial framework, while showing the beginning of carrying out the change plan for government banks.
Saleh said, “The financial market has an incredible division. For instance, the capital of private banks or their portion of capital from the public authority is around 78%, while the capital of government banks is 22%.”
He proceeded, “While government banks represent 85% of exercises and resources, while private financial action is 15%, so there are huge inconsistencies among private and government banks.”
He made sense of, “Confidential banks have nearly coincided on government allotments, whether through the window or by opening letters of assurance for projects, implying that any vibration opens private banks to difficult issues, so roughly 29 banks have been denied of managing in unfamiliar cash. ”
He expressed, “Confidential banks are confronting a problem, particularly after they were denied of exchanging unfamiliar monetary standards, despite the fact that they have existed together with this issue. Subsequently, the public authority is attempting to establish an inside climate that is steady of them, and they need to address their circumstances first.”Saleh added, “Top state leader Muhammad Shiaa Al-Sudani is exceptionally keen on transforming the course of the private and legislative financial framework,” focusing on that “there is a change plan for government banks, and there is an unfamiliar organization that assesses the financial work, its capital, and its capabilities until they are lined up with crafted by worldwide banks.”
IRAQ’S FINANCIAL REVENUES EXCEED 11 TRILLION DINARS (about 11 Billion US Dollars) WITHIN A MONTH
The Ministry of Finance revealed, on Tuesday, that the volume of Iraqi revenues in the federal budget during a month exceeded 11 trillion dinars, confirming that the oil contribution to the budget had decreased to 89%.
Shafaq News Agency followed the data and tables issued by the Ministry of Finance in April for the January accounts of the current fiscal year, which showed that oil is still the main resource for Iraq’s general budget, reaching 89%, which indicates that the rentier economy is the basis of the country’s general budget.
(Yes, even in a “rentier” oil economy the Iraqi dinar can still maintain a realistic rate of at least $3 or more. So why is it still at 1/6 of a penny?)
The financial tables indicated that the total revenues in January amounted to 11 trillion, 527 billion, 453 million, 587 thousand and 580 dinars, indicating that the total expenditures with advances amounted to one trillion, 252 billion, 731 million and 419 thousand dinars.
According to the financial tables, oil revenues amounted to 10 trillion and 275 billion and 776 million and 460 thousand dinars, which constitute 89% of the general budget, while non-oil revenues amounted to one trillion and 266 billion and 307 million and 956 thousand dinars.
The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, confirmed in an interview with Shafaq News Agency in March 2021 that the reasons for the economy remaining rentier are due to wars and the imposition of the economic blockade on Iraq during the past era and the political conflicts we are witnessing today, which led to the dispersion of… for economic resources.
The Iraqi state’s continued reliance on oil as the sole source of the general budget puts Iraq at risk from the global crises that occur from time to time because oil is affected by them, which makes the country tend every time to cover the deficit through borrowing from abroad or within, and thus indicates the inability to Managing state funds effectively, and the inability to find alternative financing solutions.
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/
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