Monday Night KTFA CC 1-13-2020

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Don961:  Report: US to cancel China ‘currency manipulator’

January 13, 2020 09:30 PM   Mubasher:

A press report stated that the United States intends to remove the name of China from the list of “manipulative currencies”, just two days before the signing of the first phase of the trade deal between the two largest economies in the world

President Donald Trump and Chinese Vice-Minister Liu He will sign an initial trade agreement in Washington next Wednesday

The decision to exclude China from the list of “currency manipulators”, which was reported by the network “CNBC” from unnamed sources on Monday, more than five months after the Ministry of Treasury officially included Beijing in this classification

The move by the Treasury Department last August increased the tensions of the trade war, and this came after the Chinese yuan exceeded more than 7 yuan per dollar for the first time since 2008.

Meanwhile, Chinese central bank governor Yi Gang stressed at the time that Beijing was not using its currency as a tool to overcome external turmoil such as trade disputes

The currency of China has witnessed a remarkable increase during the past weeks, as the dollar fell below the level of 6.9 yuan per dollar for the first time since last August  LINK

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Don961:  Global debt exceeds $ 252 trillion, reaching a record high

January 13, 2020 08:39 PM

Mubasher – Ahmed Shawky : The global debt increased to more than $ 250 trillion at the end of the third quarter of last year, to set a new record

The report of the International Finance Institute released on Monday revealed that the debt of families, governments, non-profits, and the financial sector increased to 252.6 trillion dollars at the end of the three-month period ending last September, compared to 243 trillion dollars during the same period of the previous year

During the first 9 months of last year, global debt rose by about $ 9 trillion

The Institute of Finance stated that global debt has become 322 percent of the world’s gross domestic product, which is a new record, achieving the fastest pace of increase since 2016

 The developed markets debts recorded $ 180.1 trillion in the third quarter of 2019, representing 383 percent of the gross domestic product

The ratio of debt to gross domestic product in emerging markets increased to 223 percent, after debt reached the level of $ 72.5 trillion

The Institute expects that the global debt will exceed the level of $ 257 trillion by the end of the first quarter of last year, led by the debts of non-financial companies due to the low interest rates and concessional financial conditions    LINK

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Samson:  Parliamentary Finance: Payment of the last two billion dollars of debt owed by Kuwait during 2020

20:16 – 12/01/2020

The Parliamentary Finance Committee confirmed, on Sunday, that 2020 will see the payment of the last two billion dollars in debt owed by Kuwait to Iraq, indicating that it will be guaranteed in the budget for the current year.

Member of the Finance Committee Hanin Al-Qaddu said to “The Information” that “Iraq has many debts that may move to postpone the payment of some of them to the coming years or to reduce them by talking to the creditor countries.”

He added that “among the debts incurred by Iraq are Kuwait’s debts,” noting that “the debts of Kuwait, of which two billion dollars remain, with Iraq owed , will be paid in full during 2020, and the Kuwaiti debt file involves.”

He explained that “Kuwait’s debts will include the 2020 budget to pay it after the budget is approved and completed completely,” noting that “there are efforts to authorize the government to send the 2020 budget for the purpose of discussing it and then voting on it.”    LINK