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Mnt Goat News Brief - (Guru Portion Only) 2/23/21 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Mnt Goat News Brief - (Guru Portion Only) 2/23/21

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Mnt Goat News Brief - (Guru Portion Only) 2/23/21 Empty Mnt Goat News Brief - (Guru Portion Only) 2/23/21

Post by RamblerNash Tue Feb 23, 2021 10:44 pm

More news….

Today’s newsletter is chock-full of some very good news. No, I am not predicting the RV nor am I setting a date. But what I am going to show you is that there is still much hope to see the reinstatement sooner than later. Yes, we may not have to wait until 2022. There is so much pressure to delete the zeros and raise the rate to be competitive to the US dollar and re-peg the dinar.

I will also say that these ridiculous notions that the RV would have happened last weekend, had it not been for snow storm that hit the mid-west, is just so stupid and “asinine” that the jerks passing this kind of stuff around is all based on what some “treasure guy” source told them. You all know the jackass I am talking about too. You know that I know just who it talking to them too pretending to know but is faking his intel. I have told TNT this fact over and over again, yet he persists in listening to this fake intel. How this Renfrow idiot can come on his call and bash Mnt Goat on baseless nonsense? So here we go again. All hype one day and then nothing the next.

So let’s be real here. Yes, there is hope for an RV sooner than later but the Iraqi 2021-2022 budget will have to be passed first and that is not even scheduled to later this week and these jackasses knew it too. But they always have to find some hype to stir up the audience.

Hey, they can lie and lie all they want to their stupid, dumbed down audience. Yes, the same people over and over in the conference calls. Like a social club of gab and stupidity just listening to them all. But eventually you would think the audience listening would catch onto the nonsense. But people enjoy the “hopium”. My problem with this is how long and how many times must the lies prevail before people catch on that they will NEVER accurately be able to predict the RV? That is what they get for listening to this TNT jackass. 

More news….

OIL DEMAND EXPECTED TO PEAK AND $150 PER BARREL PRICE EXPECTED

Oil demand is expected to rise to its highest level, with the price of a barrel rising to $150 a barrel over the next five years, the Daily Telegraph reported.

Oil appears to be on the verge of a new golden age in the next few years, with global demand for crude to peak, the paper said in a report, but warned that rising prices to all-time highs could accelerate the shift to electric cars and reduce investment in exploration.

She noted that oil prices have been rising significantly since the start of easing the closure restrictions caused by the Corona epidemic, and with the activation of vaccine distribution plans globally and the emergence of gradual signs of economic recovery, the price of Brent crude rose from $44.1 in mid-November to $64.5 recently, a rise of 46.2% in about four months, and indeed, the morale of the energy market has improved with the reopening of factories in China and Japan, and the rise of fuel demand in Europe.

February 23, 2021

The price of oil jumps to 66 dollars and is expected to rise to 75 dollars

Brent oil prices jumped by 1.58%, today, Tuesday, bringing the price of one barrel to 66 dollars and 27 cents, while the price of West Texas oil reached 61 dollars and 49 cents.

This increase, supported by the expected slow return to US crude production, comes after production was halted following the extremely cold wave that struck Texas last week.

And expectations indicated that oil fields in the southern United States need at least two weeks to be able to recover and produce two million barrels per day.

(Mnt Goat – We all should know by now that the price of oil does affect the budget and the rate at which the dinar will revalue at. Remember that there is going to be an in-country RV first as they proceed with the project to delete the zeros simultaneously and then later (much sooner than later) there is going to be a reinstatement of the dinar. So, there are two different rates to consider. We are outside Iraq and so the rate we consider is only at what rate the banks in our country will offer to exchange our dinar at. This bank rate will most likely be 2 or 3 times the rate offered in Iraq.)

More news….

KHAS ... AL-RAFIDAIN BANK (LARGEST IRAQI BANK) LEAVES ARTICLE SEVENTH 

Al-Rafidain Bank announced today, Thursday, that it has withdrawn from Article Seven that was previously imposed on it.

The director of Al-Rafidain Bank, Hussein Ali Al-Zubaidi, revealed in a statement singled out by the "National News Center" "about the fulfillment of the requirements for the exit of the Rafidain Bank from the UN decision of Chapter Seven.

Al-Zubaidi explained that "the exit decision came AFTER FULFILLING ALL THE BANK'S FINANCIAL OBLIGATIONS TO INTERNATIONAL FINANCIAL INSTITUTIONS." He favored "his bank obtaining large bank credits after this decision, especially the foreign dealings of state institutions and departments."

(Mnt Goat – many gurus are confused over this article. We are really taking about Chapter 7 not article 7. Currently the CBI is operating under article 14 and needs to move to and thus operate under article 8 of  the IMF charter. Article 8 in “normalcy” for monetary policy. This is where most countries now reside in dealing with the IMF in monetary policy. Many suggest that Iraq is already in article 8 and that may be the case too but we have no definite evidence of this as they have not yet told us. Let’s just wait and see what happens once they get the 2021-2022 budget passed. )

More news….

PARLIAMENTARY WEIGHTS: VOTING IS BALANCED NEXT WEEK

The Parliamentary Finance Committee suggested, today, Thursday, that the vote on the 2021 budget will take place next week.

More news….

AL-KHALIDI IS SURPRISED THAT THE CABINET HAS FORMED A COMMITTEE TO STUDY THE CONSEQUENCES OF CHANGING THE CURRENCY EXCHANGE RATE

February 23, 2021 Walter

The head of the committee to follow up on the implementation of the government program and strategic planning, Hazem al-Khalidi, was surprised today, Tuesday, that the Cabinet had formed a COMMITTEE TO STUDY THE CONSEQUENCES OF CHANGING THE CURRENCY EXCHANGE RATE.

Complete article is in the below articles section.

(Mnt Goat – there should be no surprise to Al-Khaldi. Where was he for months now when most PM were screaming for a revaluation? They have wanted to do this revaluation since 2012-erly 2013 and were stopped. So now maybe they will finally do it. Hey, can’t blame the economy for stopping it and blaming the lack of funding to pay for the newer lower denominations. Let’ see what excuse they pull out of their “rabbit’s hat” this time as to why they can’t do it. )

More news….

LEARN ABOUT THE CRITERIA FOR REPLACING DAMAGED BANKNOTES IN IRAQI BANKS

Papers that are not replaced and which the Central Bank refuses to receive: Papers that contain many writings, drawings and seals deliberately, which leads to obliteration of their features. The paper cut into more than (6) parts if the currency has lost more than (50%) of its surface or distorted or  perforated and these papers are called rejected and they are withdrawn and destroyed by the bank without compensating their owner and the owner of the rejected papers may be compensated in case there is convincing evidence that the missing parts have been completely destroyed and then he decides to provide compensation in whole or in part.

(Mnt Goat – Why this article and why now? The CBI is finally taking in these large scale stashes of banknotes hidden under mattresses and buried in the backyard. They need now to set standards of how they will exchange these not so good notes. Afterall this was part of the point of devaluing the dinar in the first place. They needed to get the people to realize that the US dollar is worth more than the dinar and so turn in the dinar for US dollars. They needed to really shake them up. The longer they hold on to the 1450 rate the more dinar stashes will come forward. Did you read the hype about going to the 1600 rate? Why did they say all this? They did it intentionally to create a small panic and speculation in Iraq. They used propaganda. They needed to kick the people in the ass with speculation and get them to move to turn in these dinars. The people are so slow since they don’t trust the banks. They also remember what happened in 2003 when their currency was literally became worthless overnight. It is only human nature.)

More news….

THE UNITED STATES SUPREME COURT WILL BE LOOKING INTO ELECTION FRAUD LAWSUITS DURING ITS FEB. 19, 2021 CONFERENCE.

These lawsuits include two cases filed by the Trump campaign and one case, each filed by Sidney Powell, Lin Wood, and Republican Representative Mike Kelly. There is no guarantee of the outcome of these cases.

All these cases allege that the 2020 presidential race was plagued with election irregularities and fraud. The Supreme Court had previously declined to fast-track these cases in early January. In their pleas seeking their lawsuits to be expedited, the lawyers had told the court that their chances of success would decline if the suits weren’t heard before Jan. 20, the day Biden was inaugurated as president.

However, the Supreme Court ignored these requests. Several lawyers believe that these proceedings explore issues that have long-term implications for fairness in elections.

Even if Trump is out of office, these election challenges still need to be addressed, such as the controversy of expanded mail-in voting.

“Our legal issue remains important and in need of the court’s review,” Trump lawyer John Eastman told the Washington Examiner.

The Trump camp’s two lawsuits in Pennsylvania and Wisconsin had sought expedited hearings and blocked the certification of Electoral College votes for Joe Biden. The Michigan lawsuit filed by Powell wanted the court to declare certified election results as unconstitutional and de-certify them.

Wood’s petition in Georgia also sought to decertify the results in the state. Kelly’s Pennsylvania petition asked the court for an injunction blocking the “Executive-Respondents from taking official action to tabulate, compute, canvass, certify, or otherwise finalize the results of the Election.”

The suit noted that the expansion of ‘no-excuse’ mail-in voting enacted in Oct. 2019 violated the Pennsylvania constitution’s rules of who is eligible to cast absentee votes. Kelly’s lawyer stated that they do not have any intention of dropping the legal action.

The Supreme Court has promised to look into these lawsuits

But it doesn’t mean that they will take them on. If the challenges are accepted, the petitions will likely not be heard until October. As the courts ponder over the proceedings, many Republicans are pushing forward for a campaign to curb mail-in voting by passing new laws.

The Trump team wants to build upon the fight for free and fair elections. In a recently released video, son Donald Trump Jr. says to his father’s supporters that they are not done yet.

Donald Trump Jr. said in the video:

“The reality is this movement isn’t over. All of the blood, sweat, and tears that you guys have all put into this thing is very much still alive and well”.

“YOU SEE THAT… THIS IS REALLY A MOVEMENT OF THE PEOPLE, A MOVEMENT AGAINST THE ESTABLISHMENT, A MOVEMENT AGAINST THE ELITE.”

But here is the important part to all this –

What Happens if the election was a fraud? The Constitution Doesn’t Say.

We must think about this and not jump the gun thinking that Trump will automatically get the presidency.

But whether this kind of re-do is allowed for presidential elections is a complicated matter. Some legal scholars maintain that the language in Article II of the Constitution prevents holding a presidential election again, thus putting it beyond the power of the courts to order a re-vote, as they have occasionally done for other offices.

Others suggest that THERE IS LEGAL PRECEDENT FOR A PRESIDENTIAL RE-VOTE if there were flaws in the process. One instance in which this question arose was the “butterfly ballot” from the 2000 election, which may have caused some voters to choose Pat Buchanan when they meant to vote for Al Gore in Palm Beach County, Florida.

If the 2000 election had taken some different twists and turns, the re-vote question might have come up in a serious way, and it’s not clear what the courts would have decided. At least one federal court has suggested that the courts could order a new election. In 1976, a District Court in New York heard a case alleging voter fraud in several urban locations. The court’s opinion maintained that federal courts had a role to play in ensuring free and fair presidential elections, arguing: “It is difficult to imagine a more damaging blow to public confidence in the electoral process than the election of a President whose margin of victory was provided by fraudulent registration or voting, ballot-stuffing or other illegal means.” This assertion challenged the idea that presidential elections occupy a special category beyond such court remedies. However, in this case, the court didn’t find sufficient evidence that voter fraud had altered the outcome, or even occurred at all. As a result, its claims about presidential elections were not evaluated by higher courts and have never really been tested.

So, experts disagree about whether courts can order presidential elections to be held again. That’s not great news for angry people hoping for a do-over. And even if it is constitutionally permissible, there’s much broader agreement that the standard for invalidating an election result and holding another vote is quite high.

But also remember Trump’s executive order claiming that if foreign intervention arises out of the 2020 election, which they have proof it did, then the election must be re-run or the opposing party with the next highest majority wins. Was this a setup to begin with to expose the deep state and dismantle it?

The outcome of the cases of voter fraud for three of the key states began  on Feb 19th and they will be the test. Remember too we are a very young nation as of yet and we still have to muddle through these types of issues. We are not yet a perfect nation. But we will survive and we will persist through charlatans who are bent on taking over our nation. Yes, it is “our” nation, as the nation belongs to the people, not the special interest or the globalist “One World Order” agenda.

STATUS AS OF Feb 19th, 2021

Oral arguments resume on Feb. 22.

TIMELINE:

“The Michigan case in the US Supreme Court originally filed by Sidney Powell and Lin Wood was just distributed today for Conference on 02/19/2021. Feb 03, 2021, DISTRIBUTED for Conference of 2/19/2021. The Wisconsin case in the US Supreme Court is also distributed for Conference on 02/19/2021. This Pennsylvania case is also distributed for Conference on February 19, 2021.

This Georgia case, originally filed by Lin Wood, is also distributed for conference on February 21, 2021. This Arizona case is also distributed for conference on February 21, 2021. Another Pennsylvania case was distributed for conference on February 21, 2021.

I am putting out a really good video set on this topic today on my FB site. It is called- 2 Shall Step Down – “I Will Purge The Courts”. I suggest everyone go out and watch it. It is very informative. We all need now to put our fucus on the Supreme Court and what is going to happen there in the next couple weeks. Listen Carefully!

*************************************************************

Formal Articles are below. Due to FACEBOOK limitations they do not print my RED colored fonts or italics, so my comments are in brackets (  ) throughout the articles. I will preface my comments with “Mnt Goat” so you know I am jumping in with observations. Also, I separated the articles with asterisks.

*************************************************************

Articles Begin

TO THE EXECUTIVE BRANCH TO THE CENTRAL BANK OF IRAQ PROPOSING THE NEED TO AMEND THE EXCHANGE RATE OF THE IRAQI DINAR TOWARDS THE US DOLLAR

(Mnt Goat – please make sure you go read item #3. WOW! )

1 - The current devaluation of the national currency of the Iraqi dinar in favor of the US dollar and making the exchange rate of the dinar against the US dollar at 1450 is an unfair, ill-considered and urgent exchange rate, which is against the interest of the Iraqi people and economy, and that the first beneficiaries of that are regional and international countries and Arab and foreign companies And the ruling political elite ... as the wealth of the Iraqi people is bought cheaply according to the new exchange rate, and this means systematic plundering ((the law)) of the wealth of our Iraqi people, at a very low price, and he played in achieving this the failure of the Minister of Finance and the President of the Central Bank of Iraq according to Guidance from the International Monetary Fund and the World Bank.

2 - that the ruling authority today represents and applies an extremist and brutal neoliberal approach according to the directives of the International Monetary Fund and the World Bank, and that today's exchange rate of 1450 is in the interest of the ruling political elite, in the interest of the leaders of the parties, blocs and political currents influential today in governance and in cooperation and coordination with the administrative and bureaucratic bourgeoisie, the shadow economy forces, and the mafia-brokers ... so these people have acquired the wealth of the Iraqi people and have become millionaires and billionaires, in the American dollar and the Iraqi dinar, and with this stolen money, state institutions will be purchased from factories and large factories, oil and gas, agricultural land, fuel and electricity stations, and other state assets at a very low price and without oversight, and the well-known popular proverb applies 

3 - A new EXCHANGE RATE IS REQUIRED FOR THE IRAQI DINAR TOWARDS THE US DOLLAR, WHICH IS ONE DINAR EQUALS ONE US DOLLAR. This requires deleting the three zeros, for example, the 1000 dinars become Iraqi dinars, and the million dinars (1,000,000) a thousand Iraqi dinars (1000), and according to the new exchange rate 1000 dinars equals 1000 US dollars, and this is in the interest of the Iraqi citizen and economy as a first stage and work in the future to return a new exchange rate. EACH DINAR EQUALS $ 3, AS IT WAS PREVIOUSLY.

4— That this can be achieved because Iraq is rich in its natural wealth of oil, gas, gold and phosphates ... .. In addition to that, there is a realistic possibility to develop agricultural and industrial production ..., that is, to create material production in order not to import and this will be in the interest of the national economy by not buying goods Food, medicine, and durable goods in hard currency, and then Iraq can export goods and services abroad and obtain hard currency, as well as work to retrieve the stolen money and return it to the Iraqi people, which range between $ 850-trillion. 

5- The Iraqi people, public and professional organizations, national, progressive and left-wing personalities, and professors of Iraqi universities and institutes, must demand a new exchange rate adjustment in the interest of the national economy.

(Mnt Goat – Of course there are many objections to the 1450 devalued rate of the dinar. They people don’t understand fully the reasons behind it. This article is pushing for just what we want. See item #3. With oil expecting to climb way over $100 a barrel Iraq will be swimming in wealth and its an excellent time to do this. But watch another crisis will arise to stop it. Yes, the deep state under Obama and Biden does not want the RV.)

*************************************************************

IRAQ: OTHER REVENUES WOULD MATCH THE OIL REVENUES IF THE SECURITY AND ECONOMIC SITUATION STABILIZED

Baghdad/Al-Khobari Center - Communications Minister Naeem Thajil al-Rubaie said his ministry's revenues would match the oil ministry if the security and economic situation stabilized, and the Ministry of Communications was managed professionally.

Al-Rubaie said in an interview with the Iraqi News Agency (AWA) on Thursday: "Achieving goals and plans is difficult in light of the volatility of the situation in the country, especially at the political level and the uncertainty surrounding it," adding that "the government cabin has achieved many achievements despite the circumstances in which it worked and the problems it faced."

"We have implemented the short-term plan measures mentioned in the government program, particularly in terms of working to increase the speed of internet and border port imports, cooperation with the private sector, as well as the development of infrastructure," al-Rubaie said.

However, "long-term projects still need time, despite the start of work, and they are shared with other institutions and departments of the state, including the e-government project, where we started at the Ministry of Justice months ago, and at the beginning of this month we conducted an experiment in the department of notary al-Karkh for the mechanism of conducting transactions electronically," pointing out that "the next step will be in the department of real estate registration, to be obtaining bonds electronically, as well as in the ministry of health, especially birth and death certificates, as well as the Ministry of Commerce."

"The automation project includes the Ministry of Commerce, banks and banks, and we have put in place a two-year plan, and a four-year plan that ministers who come in other courses can work on," al-Rubaie said.

"We face a challenge that most state employees do not accept the transition to electronic transactions, and here we need to prepare employees and institutions to achieve e-government and this requires time for training and development," al-Rubaie said, adding that "the first benefits of automation will reduce corruption significantly."

MAIL AND SAVINGS

"We have found that the General Post and Savings Company is out of the reach of its natural role in other countries, as it should have offices or satellite departments in each region, and these offices should provide many services to people, including receiving salaries and paying bills such as electricity and others."

"His ministry has worked to activate the mail and complete the requirements for the OPENING OF POST OFFICES INSIDE BAGHDAD," al-Rubaie said, adding that "the services that these offices will provide are related to electronic shopping and delivery of goods, and the ministry is intensifying its efforts to support the post office and improve its reality."

"OUR WEAKEST COMPANY IN TERMS OF REVENUES, SALARIES AND INCENTIVES AT THE MOMENT IS MAIL, but if we re-establish its business including savings and electronicization, the situation will change," he said, adding that "the opening of an information center and full facilities has been required to operate e-commerce through mail."

SMUGGLING CAPACITIES

"We increased the ministry's revenues, which were about 8 billion dinars, but within one year we were able to exceed 70 billion dinars, which was done by very important workers, the FIRST OF WHICH INVOLVES ADDRESSING MAJOR PROBLEMS IN THE FIELD OF INTERNET-SIZED SMUGGLING, because it has wasted a lot of the ministry's revenues," he said, noting that "smuggling has not yet ended, but the ministry's committees are continuing to follow up and monitor."

"Preventing internet smuggling needs modern techniques to control border crossings, and this is done by installing electronic gates and sensors focused on the optical cable, so as not to allow sa'at to enter Iraq without registering it with the Ministry of Communications, which in turn pays the money due to the Iraqi state," al-Rubaie said, adding that "his ministry has spent 15 years without it."

THE WEAKNESS OF THE INTERNET

On citizens' complaints about the weakness of internet service, despite what the ministry announced, the Minister of Communications replied: "When the ministry received the number of capacities entering Iraq annually was estimated at 25 linda, and we made it more than double to 57 nda, but the use of the Internet is constantly increasing after the emergence of this huge number of applications," he said, adding that "THE CURRENT USE NEEDS A STRONG TRANSMISSION MEDIUM THROUGH A LIGHT CABLE ARRIVING AT HOME TO IMPROVE THE TYPE OF SERVICE, INSTEAD OF THE WI-FI NETWORKS CURRENTLY IN USE." "We are determined TO ACTIVATE THE STALLED PROJECTS, particularly with regard to light cable, and we are now in the process of announcing them for investment, to distribute it to all regions of the country except the Kurdistan region," al-Rubaie said.

"The priority is to activate the optical cable in the areas it has reached and to activate it, which is many areas in Baghdad, whether in Al-Rusafa and Al-Karkh, because our cadres have stopped working there because of the lack of funds, which prompted the ministry to turn to private investors to invest for 15 years, for example," he said, adding that "this measure was taken in order to push the investing companies to compete in providing better services to citizens."

"We prefer these companies to be local, so that the money stays inside the country, as well as employing young Iraqi youth who are looking for jobs," he said."An application has been developed to measure the performance and speed of the Internet, which is currently under trial, and WILL BE LAUNCHED TO BE IN THE HANDS OF CITIZENS ON ANDROID AND IPHONE DEVICES EARLY NEXT MONTH," al-Rubaie said. "WE HAVE COMPLETED THE DESIGNS FOR A GOVERNMENT CALL CENTRE, WHICH RECEIVES COMPLAINTS ON INTERNET COMPANIES WHEN THE OPTICAL CABLE IS ACTIVATED, BUT CURRENTLY IT CANNOT BE IMPLEMENTED BECAUSE THE SERVICE IS STILL WI-FI," he said.

"We are now working to organize the work of internet companies, where contracts have been reviewed together, we have five major internet companies in the country along with subsidiaries with 14 companies," he said, adding that "these companies have taken projects from the ministry for 10 to 20 years, as each company has its own job, whether it is working on internet capacities or distributing the Internet inside or dealing with consumers directly."

"If our security and economic situation is stabilized, and the Ministry of Communications is managed professionally and specialized without interventions, THEN IT IS CERTAIN THAT REVENUES WILL BE COMPARABLE TO THE MINISTRY OF OIL, as it was no more, and many countries depend on communications," the minister of communications said.

(Mnt Goat – WOW! Imagine if Iraq can these items under control such as internet via cable, customs and tariff fees (gates and barriers), cell phones, Iraq Mail system, etc… They are telling us this is all possible and in the next period we will see it.)

*************************************************************

A NEW ROUND OF FINANCIAL TALKS BETWEEN IRAQ AND A EUROPEAN COUNTRY

On Friday, Minister of Finance Ali Allawi discussed with the Ambassador of the Kingdom of the Netherlands to Baghdad, Michael Rentinar, and the official of the Economic Department, Merrill de Konink, the economic and financial aspects and the importance of enhancing cooperation opportunities between the two countries. 

 The ministry’s media office said in a statement, which “people” received a copy of (February 19, 2021), “The Minister of Finance, Ali Abdul-Amir Allawi, received the Ambassador of the Kingdom of the Netherlands to Baghdad, Ambassador Michael Rentinar, and the official of the economic department, Mrs. Merrill de Konink, at the ministry’s headquarters.” 

The statement added, “During the meeting, they discussed the overall bilateral relations between the two countries, especially the economic and financial aspects, and the importance of enhancing cooperation opportunities on various levels in a way that meets the aspirations of the two peoples.” 

According to the statement, the minister stressed “the importance of opening the horizons of constructive cooperation,” stressing that “Iraq’s strategy in its balanced relations with all is based on the observance of common interests with world countries in a way that serves progress and prosperity for our people and friendly peoples.”

The statement continued, “The ambassador expressed his thanks to the minister for the good reception, stressing at the same time the desire of his country’s government to strengthen bilateral relations and cooperation with Iraq for the benefit of the two countries.”

*************************************************************

REPRESENTATIVE FINANCE: TWO OPTIONS FOR FINANCIAL ABUNDANCE FROM INCREASING OIL PRICES

A member of the Parliamentary Finance Committee, Sherwan Mirza, affirmed that the financial increase or abundance from the high oil prices will be used to fill the deficit or go as a supplementary budget.

Mirza told {Al-Furat News} that "the price proposed by the government for a barrel of oil is $ 42, and after the recent adjustments that we have made, the price has become $ 45 per barrel."

He added, "The $ 45 is a small price compared to the current price, but it is considered a conservative price because we do not know what will happen in the coming months."

A member of the Finance Committee stated that "the price was proposed by experts in the Ministry of Oil and the National Oil Company {SOMO}".

Mirza added: "If there is an increase or a financial abundance due to the high price of oil, it can be used to fill the deficit or as a supplementary budget."

The advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed earlier that Iraq is on the edges of economic recovery, and said, “Iraq is on the edges of economic recovery at the present time in two areas. The first is that there is a tangible agricultural boom that will achieve growth in the non-oil GDP in 2021 by about More than 4%, which is about one and a half times higher than the population growth, adding that "the second scale is the boom in the energy demand sector in the world. Oil prices have gradually recovered, which is a positive sign and strengthens the country's overall financial capacity."

Saleh stressed "the necessity of dealing with this matter with great caution, by laying a basis for sustainable development and minimizing economic shocks."

*************************************************************

AL-KHALIDI IS SURPRISED THAT THE CABINET HAS FORMED A COMMITTEE TO STUDY THE CONSEQUENCES OF CHANGING THE CURRENCY EXCHANGE RATE

February 23, 2021 Walter

The head of the committee to follow up on the implementation of the government program and strategic planning, Hazem al-Khalidi, was surprised today, Tuesday, that the Cabinet had formed a committee to study the consequences of changing the currency exchange rate.

Al-Khalidi said in a press statement, “We were astonished by the decision of the Council of Ministers in its session held on (2/22/2021) to form a committee to study the consequences of changing the currency exchange rate and to propose the required solutions as far as the matter is related to investment projects where the committee is headed by a representative of the Ministry Planning and membership includes, in addition to the General Secretariat of the Council of Ministers, representatives of the ministries of finance, reconstruction, housing, works, public municipalities and electricity, as well as the National Investment Commission, the Central Bank of Iraq and the Federation of Iraqi Contractors.

He indicated that “it was the first to pay this great attention to studying the damage that occurred to citizens as a result of raising the exchange rate of the dollar, especially since the Ministry of Planning had announced some time ago that the poverty rate in Iraq had exceeded 31.5%, in addition to the large increase in prices that exceeded a third.”

The value of all commodities and services exacerbated the poor living conditions of many middle and vulnerable families, and the poor citizen was the most affected. He added, “The government’s tendency to form a committee to study the damage inflicted on contractors confirms the realism of our repeated demand to review the decision to raise the dollar’s unprepared exchange rate and return it to what it was in order to avoid all these damages, whether they are on the poor, low-income people and the general population. With contractors only, and neglecting the situation of millions of Iraqis affected by that, adding an article to the draft budget bill includes compensation to contractors at a value of (500) billion dinars, but the strangest thing of all is that the government senses the damage inflicted on contractors and does not feel the damage that has befallen citizens.

(Mnt Goat – So, is this proposal to change the exchange rate just to change it back to 1250 before the devaluation to 1450 or is it to 1:1 with the US dollar and give the Iraqi dinar the strength it really deserves? I believe, based on other articles in today’s newsletter, that it is a study to go to 1:1 and then to eventually raise it back to 3:1 and even higher. These articles are related as there is much pressure to finally get this done. Remember I told you they always push for early January (new fiscal year) to RV and Reinstate and so they have not yet passed the new budget and we still have time to see this happen. It is not over until the fat lady sings….lol..lol..lol.. Then 2021 budget is expected to be voted on Thursday and they are now working on Kurdistan share disputes. So, I am not jumping the gun but just letting you know not to give up hope yet. Do not start looking at Jan 2022 yet until this year’s situation and possibilities are over and done.)

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