FIREFLY:Television is saying...there will be another meeting...Why they keep having these meetings?
FRANK: IMO they have agreed upon a target date of when to show the new exchange rate. IMO right now what Mr. Sammy's bank is doing is applying a new software...that deals with foreign currency. Because your currency must be recognized by the world.
Your new Iraqi dinar will be one of a few currencies that will turn. This software is being presented to all the banks...exchange centers in preparation...
It amounts to 216 trillion... A date has been set for submitting the budget tables to Parliament
Deputy Chair of the Parliamentary Finance Committee, Ikhlas al-Dulaimi, ruled out the government's submission of budget schedules within the next two months on Wednesday, while confirming that the 2025 budget amounts to 216 trillion Iraqi dinars.
Al-Dulaimi said, "The Ministry of Finance has not yet sent the 2025 budget tables to the Council of Ministers, even though they were supposed to be sent in October 2024, in accordance with the Financial Management Law, for approval before the start of the new year."
She added, "The total budget amount is 216 trillion dinars, while actual spending is estimated at about 160 trillion dinars."
Al-Dulaimi ruled out "sending the tables to the House of Representatives within the next two months," noting that "the Ministry of Finance has not yet completed their preparation, which could lead to the postponement of budget approval until after the elections."
Last February, the Iraqi Parliament voted on the draft law amending the first law of the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023. link
Please be aware those who haven't already noticed we have a 3-day weekend ahead
Need to close a CC has just been announced
Very short call but important intel, steps taken today to insure CBI has taken necessary steps to insure exchange capabilities beginning Monday if release is confirmed.
Kurdistan Region confirms oil sales through SOMO: We will give our money to Baghdad
The Kurdistan Regional Government (KRG) on Wednesday affirmed the region's firm position to implement an amendment to the budget law, allowing the region's oil to be exported and sold through SOMO, with the proceeds returned to the federal Ministry of Finance.
A statement issued by the Kurdistan Regional Government's Council of Ministers, seen by Al-Eqtisad News, said, "The President of the Council, Masrour Barzani, held a meeting attended by his deputy, Qubad Talabani, during which the Prime Minister instructed the Ministry of Finance and Economy to prepare a schedule for distributing salaries to Kurdistan Region employees for the month of February, after the deposit of 958 billion dinars into the ministry's account for that month."
The Council decided to begin distributing salaries starting tomorrow. All ministries and institutions were also tasked with preparing March payrolls as soon as possible and sending them to the Federal Ministry of Finance, with the goal of disbursing them before the Eid al-Fitr holiday.
The statement confirmed that "in the first part of the meeting, Kamal Mohamed Saleh, Acting Minister of Natural Resources, reviewed the latest developments in the joint meetings between the Ministry of Natural Resources and the Federal Ministry of Oil, in the presence of representatives of oil companies."
The minister explained the efforts being made to resume the region's oil exports within the framework of the federal budget law. The Council of Ministers commended the Ministry of Natural Resources' efforts to accelerate the process of resuming oil exports and its joint work with the Iraqi Ministry of Oil to resolve the obstacles related to the process.
The Council also affirmed the "regional government's firm position to implement the amendment to the budget law so that the region's oil is exported and sold through SOMO and its revenues are returned to the federal Ministry of Finance." link
Member: What are the tiers? What tier would zim holders be in ?
MZ: If you are still holding your physical Zim….you would be in tier 4b along with the rest of the currency exchanges…..If you have already handed your zim over to a group and have an SKR (safe keeping receipt) it is tier 4a.
Member: this is an old one but- There are 5 Tiers of folks Exchanging. Tier 1-governments and royalty Tier 2-whales-elite with platforms of currency, corporations, etc. Tier 3-Admirals Group, American Indians, CMKX, large church groups (like the Mormons), etc. Tier 4-all the hundreds of thousands paying attention to intel - internet groups(all of us). Tier 5- those who never paid attn - the general public.