AshleyD: as you mentioned earlier the 15th is the back side, lets hope it gets done or else everything is back to square one and many look like fools. IMO the dissolution of the govt and restarting elections sets this thing way back even further, please elaborate if I am missing something. IMO one day soon the IMF/UN is gonna say Iraq you are hopeless continue to exist at a program rate.
Tivon: Dissolution puts in place constitutional legislation that the EFSL is based on. Which gives Al-Kazemi full powers to enact laws put on the back burner.
That is why they are not doing a 2022 budget. They want a entire new clean slate before 2023. That way when they do a budget for that year they can start on new things.
Keep in mind that the Oil & Gas Law can be passed with a transitional government. We don’t care about the IMF/UN. We are talking about constitutional obligation. No power supercedes that. They can not dictate what goes on in the country when you are operating from “The Law of The Land. That goes for Total, Kurdistan, UN, IMF, etc.
The 15th is the deadline for banks. Which will be the new digital platform for shares, stocks, bonds, trades, and ofcourse daily banking practices.
Tivon Cont……If Al-Kazemi is declared the authority today the CBI can release the rate tomorrow.
What you are seeing right now is stonewalling from the CF. Why? Because they know once Al-Kazemi is officially deemed the interim for the remainder of they year it will be officially over for the corruption in all sectors of society.
That’s why the EFSL was created to clean house. Which is what you are seeing. That’s why everyone is now supporting Al-Kazemi. Why do you think the citizens cheered when Al-Kazemi announced that the 1190 rate is wrong? They know what that signifies.
Now it makes perfect sense why Al-Kazemi rewrote the contracts after the Total article came out. Because once adjusted it will support the national currency. Which is why nothing can be done with Total until he Al-Kazemi has full authority.
Total wanted to close a deal before the citizens received purchasing power in IQD. Al-Kazemi was not going to let that happen. Because the new oil contracts have to be denominated in IQD only.
Keep in mind the CBI sits on the same council as the Ministry of Oil and the PM. To encourage private sector investment in the refining sector, the Refining Law offers the following incentives. The Ministry of Oil is obligated to supply crude oil to the refining company at a price equal to the international FOB export price for Iraqi crude less a discount of 5 per cent, provided that the discount will not be less than US$4 per barrel or more than US$8 per barrel.
At that time the discount applied for a period of 50 years on prior contracts before Al-Kazemi recently adjusted them. Because this was based on old contracts that have been recalculated to only support the IQD. Not the USD. IMO
If you are looking at it one way you can see why some would assume there’s a long way to go. Because it appears we are waiting on things being settled between what powers will run the country in “The New Government”.
But Al-Kazemi is in position to implement everything for the interim period as an transitional authority who will use the EFSL to enact the Oil & Gas Law sense he will have full legislative authority. That way the citizens can have purchasing power while they start new elections and choose a new GOI. Because the EFSL covers “All Contracts & Procedures”.
Therefore it can cover everything the citizens want and need now. Everyone in Al-Kazemi cabinet knows thus. Which is why he instructed all ministries to implement all provisions of the EFSL. Imo.
DallasDude: The obvious answer is dissolution with elections next year some time..let Al-Kazemi be the announced government in the interim and things will fall into place for everyone..saw the article where it was suggested that the CF would be the new government until early elections..not a chance in you know what that’s going to happen..not for 6 months not for 6 minutes..anyway IMO this is the most likely scenario..
Tivon: Bingoooooooooooooooo. Somebody understands. The “New Government” is the problem we are trying to get rid of now! That’s why we have the demonstrations going on. Thank you. People didn’t seem to understand the new was referring to old problems that the citizens do not want to continue. This short comment summed up everything I have been trying to get across. The citizens do not want a “New Government”. They want purchasing power. And they can get that now from the man himself Al-Kazemi. They could care less what happens to the GOI from that point. Why? Because given the new anti corruption methods put in place even if you wanted to steal money from auctions or the border or the budget. You will be caught immediately. Imo
MilitiaMan: Tivon, there you go. Supporting data that The PM has the ability to do neccessary mechanisms to get the country out for crisis. We have been talking about this over an over.. MM
Al-Kazemi addressed the demonstrators, saying, “Your message is clear, and your commitment to calm and organization is a duty and appreciated, and it is now time to discuss the mechanisms for launching a reform project agreed upon by the various national parties, and I am sure that in Iraq there is enough rationality and courage to move forward with a project.” My country is getting the country out of its current crisis.”
MilitiaMan: Al-Kazemi said in a statement received by Shafaq News Agency, “Iraq is witnessing a great political tension that threatens if wise people do not interfere with dire consequences,” adding: “While we have taken all necessary measures and measures to control the situation, maintain security, and prevent the waste of Iraqi blood, we call on all parties To calm, reduce escalation, to start an initiative for a solution on national bases.
MilitiaMan: This is even more support. The use of necessary mechanisms is like saying that we have the constitutional authority to use the necessary powers to launch reforms. Notice too, that by PM Kahdimi had no push back by the militias. Even clans that were likely on the CF payroll are now in favor to the Sadr camp. The two sides both stood down relatively peacefully too.
Again, once the dissolution happens, the direct statement above from Kahdimi shall likely launch the reforms. Which are constitutional entitlements for the citizens.
There is nothing in this that supports we have to wait for a new government at all, as the present government shows he has the necessary mechanisms in his hands to do so. The Supreme Judicial Council wrote a piece on it in February and June 2022. The roadmap has been talked today about and dissolution makes the most sense for the empowerment for people. imo We are in a good place.. ~ MM
Tivon: Thanks Militia-Man. People you all have to connect the dots. Think about the speed of which things are happening. Remember when BUNA said they will launch in the 2nd half of the year? Guess what? That (3nd half) already started on July 1st.
Now keep in mind why the CBI gave all banks until the 15th to be on the new digital platform. Which handles all trade, stocks, bond, and shares. Including international payments. Why are they now so adamant about this being done by the 15th.
Well because by November SWIFT wants most countries under ISO-20022 regulations. Because it deals with XRP/XLM. Digital Currency or Crypto Asset= XRP for exchange across borders (X-borders) and exchanging value between all markets and asset classes.
XRP will be used to balance trade accounts between Sovereign entities or countries, via Treasury & Central Banks. What is Iraq now? A Sovereign Nation.
Now if you read and understand why this is in place. You should understand what the CBI wrote below in regards to the BUNA platform. This is why they are on a timetable concurrent with not only BUNA but the SWIFT system. This is why reforms have to launch immediately. And the only way to get there is dissolution. Time is not on their side in any regard. IMO
CBI: To expand the scope of electronic payments, “the actual launch and operation of the Buna platform for inter-Arab payments”, a platform that provides real-time clearing and settlement services for cross-border financial transfers between Arab countries and in Arab and international currencies. The first movement implemented through banks between The State of the Emirates and the Arab Republic of Egypt, in the currency of the UAE dirham.
The Central Bank of Iraq and a number of local banks have already signed an agreement and completed the technical requirements to participate in the project in coordination with the Arab Monetary Fund, and work is underway to approve the Iraqi dinar in the system for the next stage, as the participating banks in the Arab countries will be able to send and receive payments between them in a safe and reliable manner. This platform will help reduce the recourse to international centers from correspondent banks in clearing and settling Arab payments, which will contribute to reducing the time and costs associated with banks and their customers.