Sunday, July 2, 2023
TNT NEWS ABOUT IRAQ AND VIETNAM, 2 JULY
TNT
CandyKisses:
After his vacation is over.. House prepares to pass 3 prominent laws
{Policy: Euphrates News} Independent MP Haitham Al-Fahd revealed, on Friday, the readiness of the parliamentary committees to pass 3 prominent laws.
Al-Fahd said {for Al-Farat News} that: “The parliamentary committees intend after the end of the legislative holiday to approve the communications law, the investment law and the national security law, all of which serve citizens.”
He added, “The current parliamentary session presented a number of important laws that serve citizens, foremost of which is the Social Security Law and the Tripartite Budget Law, which, despite much talk about it, paid attention to the service aspect.”
“This session aspires to provide significant legislative and supervisory work,” Al-Fahd stressed
Tishwash:
Next week, Iran will officially join the Shanghai Cooperation Organization
Russian Foreign Minister Sergey Lavrov announced, on Friday, that Iran will officially join the Shanghai Cooperation Organization next week, along with China, Russia and Central Asian countries.
“During the meeting of presidents on July 4, Iran’s full membership will be approved,” Lavrov said at the inauguration of the organization’s center in Moscow.
The minister indicated that the meeting will also witness the signing of a memorandum of understanding regarding the “obligations” of Belarus, an ally of Russia, which is scheduled to “also launch a path for full accession” to the organization.
The Shanghai Organization was established in 2001 at the initiative of Russia, China and four countries in Central Asia: Tajikistan, Kyrgyzstan, Uzbekistan and Kazakhstan. India and Pakistan joined in 2017.
The Islamic Republic has been an observer member of the organization since 2005, and its last attempt to join it in 2020 failed as a result of Tajikistan’s refusal at the time. However, the member states returned and agreed in September 2021 to join Tehran, which at that time began a series of procedures that required up to two years, for membership to become official.
Iran is also seeking to join the BRICS, which includes South Africa, Brazil, China, India and Russia.
The Russian announcement of completing the procedures for Iran’s accession comes at a time when the Islamic Republic is making diplomatic moves in various directions to ease tensions and Western restrictions on it, which included, in particular, opening up to Arab countries in the Gulf region, strengthening cooperation with countries in Asia, Central and South America, and re-establishing contact with European countries. After months of increasing tensions with it, leading to indirect talks with the United States, mediated by Oman.
Tehran’s relations with Moscow have witnessed a convergence in the past months, after the Russian invasion of Ukraine in February 2022.
Russian President Vladimir Putin visited Tehran in the summer of that year, after Iranian President Ibrahim Raisi visited Moscow at the beginning of the same year.
Kiev and Western countries accuse Iran of providing Russia with drones to use in its war against Ukraine. Tehran has repeatedly denied providing weapons to Moscow “for use in war”, but admitted to providing Russia with drones before invading Ukraine. link
A rise in unemployment and an increase in poverty rates.. An economist indicates the risks of currency printing
Asher, the economic expert, Ahmed Saddam, today, Saturday, the dangers of currency printing.
Saddam stated to Earth News that “there is no economic feasibility in printing the currency to cover the budget expenses for the reason that the increase or printing of the currency will raise the level of the monetary mass and thus will cause a significant rise in the price level by virtue of the lack of current production capacity within the economy, meaning an increase in the monetary mass.” In exchange for the absence of real non-oil production in the commodity sectors, namely agriculture and the manufacturing industry.
He added, “This will translate into a rise in the price level, in other words, a rise in the level of inflation and a decrease in the value of the Iraqi currency. The interests in the private sector lead to the dismissal of a number of workers and reduce them by virtue of the weak purchasing power and thus the failure to achieve revenues that can employ a larger number of workers.
And that “these are all negative effects that may be left behind by resorting to printing a new currency in return for the lack of real production capacity, in addition to a lack of confidence in the Iraqi currency and in decisions, and this causes great economic confusion even at the level of the investment decision, which in the end affects the reality of the economy in a way very negative.” link
"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 2 JULY
Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: They talking about after the EID holiday instructions on the budget will be given to all citizens…
Between me and you when has the government ever done you a favor?
DINARLAND UPDATE, 2 JULY
Bruce (The Big Call)
[via WiserNow]As far as Iraq is concerned, they are wrapping up their Eid on Sunday. We have a new rate from Iraq coming out and the Iraq dinar – the new Iraqi dinar – will be on the Forex Sunday evening at five o’clock and we would be able to see it here. If you’re a Forex person, you could see it...
Mountain Goat
Parliament is now on recess until after Eid holiday. When they come back the focus is said to be all about two issues. How to solve the budget deficit without borrowing money and to get the Oil and Gas law passed and implemented…Seems now there is a new ignited will to get it done...
MarkZ
[via PDK]I am very confident the…the dong will go at the same time as the dinar.
Member Question: So whats the major hold up? Or is it just the process playing out?
…Everyone seems happy and we will be on pins and needles…hopefully between now and the third they will showcase this country.
I heard one of the major banks in the United States is gonna go there [ Iraq ]. I’m not gonna say the name because I’m not sure yet. When I’m sure I’ll let you know. I heard one of the major bank in the United States it’s gonna be in Iraq …they’re gonna open banks in Iraq
Community comment “Iraq should have a tradable currency before they join the WTO.” They already do! The dinar is globally tradable. The problem is no banks want to deal with it until Iraq’s central bank is in compliance with other world Banks under IMF Article VIII.
Saturday, July 1, 2023
DINARLAND UPDATE, 1 JULY
Mountain Goat
On my normal Saturday call with my CBI contact…It was told to me that the US banks should expect to see a rate change this week.Really? I said, we are that close? I was told “yes”…Iraq…and Vietnam have completed Article 4 with the IMF and are capable of moving forward with their currency reforms… We will see some movement in July with our currencies …
[via WiserNow]
Well, it appears that the Fifth of July is the first day that we should go in for exchanges…our notifications could come out Saturday, Sunday or Monday, set our appointments and then start on Wednesday, the fifth with appointments with our exchange appointments … My personal feeling is it’ll probably come out Monday… Redemption center staff is up to speed. They know what’s going on. And they’re ready to go…I really believe that everything has moved to a place where now it’s time for this to go...this could be a beautiful start to our new future.