Al-Marsoumi expects a "tragic and exciting chapter" after "hidden hands" tamper with budget tables figures, 25 AUGUST

 Economic expert Nabil Al-Marsoumi revealed, today, Saturday (August 24, 2024), what he called hidden hands that tampered with and changed the numbers of the budget tables in its paper and electronic versions.

Al-Marsoumi said in a post on the Facebook platform, followed by Baghdad Today, that "the Presidency of the Republic has not approved the 2024 budget tables and they have not yet been published in the Iraqi Gazette, despite the parliament voting on them about two months ago," indicating that "the reason for this is the hidden hand that tampered with and changed the numbers of the tables in the paper and electronic versions and added 15 trillion dinars to them."

He added, "After the two letters sent by the Prime Minister's Office to the House of Representatives to investigate this issue, and after the complaint submitted by MP Basem Khashan to the Federal Court, it seems that there is an exciting tragic chapter that we will witness in the coming days."

Acting Speaker of Parliament Mohsen Al-Mandalawi confirmed on Wednesday (August 21, 2024) that the budget tables voted on by the Council are the same as those sent by the Council of Ministers.

According to documents issued by the director of Al-Mandlawi’s office, received by “Baghdad Today”, “the budget tables voted on by the House of Representatives are the same ones sent by the Council of Ministers and returned to it, according to Parliamentary Resolution No. 64, without any amendment, and the aforementioned tables are the same ones that were sent after approval to the government.”

It is worth noting that the member of the Parliamentary Finance Committee, Moeen Al-Kazemi, revealed on Wednesday (June 26, 2024), that an appeal was filed by a member of the Legal Committee in Parliament, against the approval of the 2024 budget schedules.

Al-Kadhimi told Baghdad Today that the appeal was submitted "on the grounds that the numbers included in the budget items will change, and thus this is considered a change to the law and requires the enactment of a new law with a first and second reading, and final approval."

He pointed out that "another objection is to changing the financing of oil producing companies from self-financing to central financing, and this matter is considered another piece of legislation that cannot be included in the budget tables."

Al-Kadhimi pointed out that "the Federal Supreme Court referred this lawsuit to the Presidency of the Council of Representatives and requested an answer within 15 days."

On June 3, 2024, the House of Representatives voted on the tables of the Federal General Budget Law No. 2024, amended (13) for the year and its attachments, Tables (A/B/C/D/E and F  link

IRAQ'S BANKING REFORMS: A NEW DAWN?

LATEST FROM PIMPY, 25 AUGUST

  Pimpy

  If you're planning on retiring sometime this year because of the Iraqi dinar exchange rate, well put a hold on your plans for just a little bit until we get past this next year IMO.  With the election season coming up and we have no idea who's going to be in charge of the country, we have no idea what kind of actions are going to be taken against Iraq...The fact that the United States Treasury has now taken up an entire floor in the Central Bank of Iraq is not a good thing at all...

 Pimpy   

Until you hear otherwise just assume Alaq has submitted his resignation letter and has not put a date yet as to when his last day is.  There are too many articles out there stating he has submitted a resignation letter.  

 Pimpy 

 If it could be proven that [Alaq] was involved with some criminal activity...then he should be out of there and convicted...But if it's all bullshit and this is another one of those moves by Maliki and the Coordinating Framework then people have to do something... So we're not sure where this information is coming from.  But that doesn't mean you

shouldn't listen to the news, because this person is like, 'See Pimpy, you said there is no fake news.'  I did not say there was no fake news but not everything can be fake news.  Just because you don't like the information...it must be fake news.  Nope.  What you got to get to is the bottom of why this situation is there in the first place...Like anything else you have to be able to sift through the crap that you're hearing and make a decisions on whether the news is real or not...

 Pimpy 

 We know pretty soon Iraq is going to be here and talking to people in Washington about what they need to do to get back into good graces, have sanctions lifted on some of the banks and allowing Iraq to move forward with reform without looking for excuses to penalize them every time Iraq does something that pisses off the Biden Administration.

IRAQI DINAR FOR OIL : 2024 UPDATE

Iraq’s JOC destroys ISIS hideouts, killing terrorists in Saladin, 25 AUGUST

 Shafaq News/ On Saturday, the Iraqi Joint Operations Command (JOC) announced the destruction of three ISIS hideouts in eastern Saladin.

“At 6:00 am local time, based on precise information from the General Directorate of Intelligence and Security… the Iraqi air forces targeted terrorist hideouts by Cessna Caravan aircraft, in the Tuz district within the East Saladin Operations Command.”

The statement confirmed that the strikes completely destroyed the hideouts and killed all terrorists within. 

“The security information indicates that these locations were used to shelter ISIS members and serve as bases for launching attacks against security forces and civilians.” JOC said.

Despite its defeat in 2017, ISIS remains a threat in Iraq. The group continues to carry out attacks, particularly in the so-called Triangle of Death, encompassing the governorates of Saladin, Kirkuk, and Diyala. Areas such as Al-Yusufiyah, Al-Mahmoudiyah, Al-Iskandariyah, Al-Latifiyah, and Jurf Al-Sakhar, along with hundreds of remote towns, are still considered hideouts for the terrorist organization.

According to press release last July by the US Central Command, In the first half of 2024, ISIS claimed 153 attacks in Iraq and Syria, “ISIS is on pace to more than double the total number of attacks they claimed in 2023. The increase in attacks indicates ISIS is attempting to reconstitute following several years of decreased capability.”

LATEST FROM FRANK26: "EVERYONE IS WAITING FOR THE NRE EXCHANGE RATE OF THE IQD" , 24 AUGUST

 Frank26 

  I don't care about the WTO and HCL because it only waits for one thing, the new exchange rate.  The only mechanism that everyone is waiting for is the new exchange rate.  

That is the simple fact.  This fact is real because Sudani is constantly reinforcing that idea...by constantly coming out on TV and talking to you [Iraqi citizens] about you're going to get purchasing power.

We found out the 3 zero notes are going to coexist with the lower notes for 10 years.

  Do you understand the power behind that?  

That means we're going to be able to participate in not only the float but the Real Effective Exchange Rate (REER)

  Frank26 

 The goal is what?  Retrieve those [Three zero notes].  

How? 

As soon as we raise the value, give them purchasing power, as soon as we drop the 3 zeros, they're going to bring in all that 80 something percent [still in Iraqi mattresses]...The monetary reform plan is brilliant...It is moving at a very fast pace.

DINAR REVALUATION 

ANALYSIS OF WHAT EDDIE TOLD TO FRANK26: 

"Then Saleh talking about oil being sold in dinars instead of dollars." 

 Economist back on tv saying it’s time to drop the zeros."

---It sounds like there's a couple of interesting economic discussions happening in Iraq right now!

1. Saleh and Oil Sales in Dinars: Saleh's suggestion to sell oil in dinars instead of dollars could be aimed at strengthening the Iraqi dinar and reducing dependence on the US dollar. This move could potentially stabilize the local economy and improve national financial sovereignty. However, it would also require significant adjustments in international trade agreements and currency exchange systems.

2. Dropping Zeros from the Dinar: The economist's call to drop zeros from the dinar is a common monetary policy strategy known as "currency redenomination." This involves introducing a new unit of currency that is worth a thousand or more times the old unit. It's often done to simplify transactions and improve the currency’s image after periods of high inflation or economic instability. For Iraq, this could be a step towards stabilizing the currency and restoring confidence in its value.

Both of these measures reflect efforts to address economic challenges and enhance the stability of Iraq's financial system. The success of these strategies will depend on how they are implemented and their impact on the broader economy.

SEEMS THAT WE ARE REALLY CLOSE TO OUR DESIRED RV!!!

https://dinarevaluation.blogspot.com/2024/08/dinar-revaluation-update-seems-that-we.html

DINAR REVALUATION : ANALYSIS OF MNT GOAT POSTS : Mnt Goat Answers Your B...