March 1, 2021
Our current share count is 1,502,009,197 with a net asset value of 1,420,463,488 dinar.
The share increase over what we purchased them for is 338,367,588 dinar.
The total blocks sold is just under 9300.
1,502,009,197 Shares
8 thoughts on “1,502,009,197 Shares”
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Thanks Andy… Looking good!
Please know that we do appreciate all you are doing and accomplishing for the collective.
Plus, we are grateful for this opportunity. Cheers…
We are now in March 🙂 Thanks Andy for this awesome update. The numbers are unbelievable…and so is the news the last couple weeks….here are some articles below to wet the appetite. Hopefully we see a rate change shortly ….
A scientific symposium entitled: Deleting zeros from the Iraqi currency (implications – future repercussions)
Under the patronage of the President of Tikrit University (Prof. Waad Mahmoud Raouf) and under the supervision of the Dean of the College of Administration and Economics (Prof. Dr. Abdul Razzaq Hamad Hussein), the Economics Department is holding a scientific symposium entitled ( Deleting Zeros from the Iraqi Currency (Effects – Future Implications) ) on TUESDAY Corresponding to 3/2/2021 at exactly TEN O’CLOCK IN THE MORNING at Prof. Muhammad Bida.
The invitation is general to all
All gentlemen in attendance must abide by all
Conditions of prevention and health safety
While attending the symposium, to preserve the safety of everyone
http://cade.tu.edu.iq/images/2021-2/%D8%A7%D9%84%D9%86%D8%AF%D9%88%D8%A7%D8%AA_/%D9%81%D9%88%D9%84%D8%AF%D8%B1_%D9%86%D8%AF%D9%88%D8%A9_%D8%AD%D8%B0%D9%81_%D8%A7%D9%84%D8%A7%D8%B5%D9%81%D8%A7%D8%B1_%D9%85%D9%86_%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9_%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9__%D8%A7%D9%84%D8%A2%D8%AB%D8%A7%D8%B1__%D8%A7%D9%84%D8%AA%D8%AF%D8%A7%D8%B9%D9%8A%D8%A7%D8%AA_%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D9%82%D8%A8%D9%84%D9%8A%D8%A9.jpg
http://cade.tu.edu.iq/images/2021-2/%D8%A7%D9%84%D9%86%D8%AF%D9%88%D8%A7%D8%AA_/%D9%82%D8%A7%D9%84%D8%A8_%D9%86%D8%AF%D9%88%D8%A9__%D8%AD%D8%B0%D9%81_%D8%A7%D9%84%D8%A7%D8%B5%D9%81%D8%A7%D8%B1_%D9%85%D9%86_%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9_%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9__%D8%A7%D9%84%D8%A2%D8%AB%D8%A7%D8%B1__%D8%A7%D9%84%D8%AA%D8%AF%D8%A7%D8%B9%D9%8A%D8%A7%D8%AA_%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D9%82%D8%A8%D9%84%D9%8A%D8%A9.jpg
Washington consensus … and the white Iraqi paper
It is time for the Iraqis to learn from measures that have registered success in economically troubled countries.
Saturday 02/27/2021
A brick factory in Maysan, southern Iraq
Brick factor: the state of the Iraqi economy after a century of oil rents, development and education
Washington Consensus: Markets drive more growth than the state
The Iraqi “white paper” is fully consistent with the provisions of the Washington consensus
Reducing the value of the dinar is the first harsh government steps against large segments of Iraqis
In 1989, economist John Williamson developed an economic draft of ten articles, which he presented as a treatment description for failed states that suffer major financial and economic problems in the Latin continent (failed states or fragile states is a political term referring to weak and ineffective governments that were unable to control the performance of Its successful or failed service and administrative duties to monopolize the authority of legitimate violence) during which it called the International Monetary Fund and the World Bank to adopt this bylaw, and the recommendations presented at the time were as follows:
Policy of fiscal discipline and consideration of expenses
Redirecting public spending from random subsidies to infrastructure investment
Tax reform in the sense of moderately broadening the tax base
Giving markets the freedom to set prices so that they are higher than inflation
Liberalizing the trade sector with a focus on the principle of eliminating quantitative restrictions, such as licensing and concessions
Liberalization of foreign investment flows
Privatization of state institutions
Liberate and abolish regulations and laws that hinder market entry or restrict competition
The currency exchange rate is appropriate and reflects economic strength
Observance of laws and land rights
In the 1990s, this list took a broad political turn, after it was approved by the World Bank, International Monetary Fund and the US Treasury Department based in Washington, DC, until these policies were overshadowed by the term Washington Consensus, referring to those institutions that adopt these policies that Supports international globalization policies.
And between a critic and objector to these policies, which were considered by some, an interventionist policy directed in favor of certain liberal countries in manipulating the competitive advantages of those countries for political purposes, as these reform policies were applied in Latin countries and applied again in the second world countries, i.e. socialist countries after their separation from the Union Then, ten other items were added to the list, called at the time – Post-Washington Consensus, the amended Washington consensus – during which consideration was given to the developing countries’ economic conditions and the size of the responsibilities restricting their economies and constrained by the dependence of many social classes and classes on their central economies.
The principle of the regulation and its provisions in general – as economists see it – is based on the concept that markets lead to achieving growth more than the state itself, and to reduce the state’s role in managing the economy.
White paper
In August 2020, the Iraqi government presented the economic reform report, which it called the “white paper”, which included a set of recommendations, strategies and policies that it thinks are capable of reforming the economic and financial system in Iraq, and through which the Iraqi government believes, as stated in the preamble of the paper, that it is inevitable. Other than implementing these reforms, there is no room for postponing those decisions and policies and continuing to depend on Iraq on recovering oil prices and export quantities to finance its increasing expenditures.
With the study of the five frameworks and axes of the white paper and allowing ourselves to rearrange them in accordance with the terms of the ten Washington Consensus paper, we find that most of the themes and topics dealt with in the Iraqi White Paper came fully compatible with the terms of the Washington Consensus. And if its effect was not clearly observed in the last proposed budget for 2021, the privatization of public sectors is another goal that the Al-Kazemi government seeks to implement, while the move to change the exchange rate of the dollar and reduce the value of the dinar was the first steps that the government implemented, whose severity was reflected on large segments of the people Iraqi.
Feasibility and effectiveness of these steps
We can at least agree with most liberals and believers in the free economy who believe in the principle of limiting state intervention in the economy, with the importance of implementing these paragraphs, but it is possible that the objections about the implementation and implementation mechanism are logical, acceptable and justified as well, especially with the nature of the fragile and complex situations of those countries whose environments were not Legal, economic and political are qualified to carry out comprehensive reforms of this magnitude, which could harm the interests and entry of many segments of their societies that are unable to defend their interests or even understand their rights and their duties.
As for returning to the countries and institutions that sponsor these articles, which are considered advanced industrial capitalist countries such as the United States and Britain as an example, whose economic thinkers, their major economic institutions and their research centers have adopted these reform items!We find that it took a contradictory behavior with the call of developing countries and socialist countries to adopt these difficult decisions in a time of financial and economic crises that they experienced in the years 2008 and 2020, as the United States and even the European Union countries and Britain abandoned measures to lift statesupport, and turned towards interventionist policies in the market, And increase spending and economic stimulus, andsupportthe affected companies with grants and loans without interest or negative interest, and the adoption of spending policies, and a large increase in spending to take care of the vulnerable classes and large payments for unemployment!
Those international financial institutions and those whosupportthem from among the major countries are trying to impose policies that pressure peoples’ governments to implement harsh economic provisions and steps in difficult periods, as is happening in Iraq today, contrary to the nature of the behavior of their decisions and economic policies in times of crisis, which calls us to stop a little and reconsider adopting such The procedures in our countries and the return to hearing the opponents of those policies and procedures or to re-evaluate and discuss the objective reasons for the success or failure of such measures and economic policies on the reality of developing countries or countries that are in a state of economic transition from centralization to a market economy.
Government of Iraq
@IraqiGovt
Setting a new exchange rate for the Iraqi dinar against the US dollar is part of the economic reform programme adopted by the Iraqi Govt which aims to address the immediate financial crisis and placing the Iraqi economy on a sustainable path
https://twitter.com/IraqiGovt/status/1365285738019844098
https://twitter.com
The wild Wild West of BIG MONEY is here $$$ 🙂 As Trump would say “BILLIONS AND BILLIONS “. Also, IRAQ is in a Surplus according to Saleh and they do not need to borrow! Amazing news! They are more than ready!
Parliamentary services reveal the imminent construction of 14 modern cities … and those included
1/3/2021
Parliamentary services reveal the imminent construction of 14 modern cities … and those included[Baghdad-Where]
A member of the Parliamentary Services and Reconstruction Committee revealed, today, Monday, that (14) modern cities will be constructed in all governorates, with 550 thousand housing units for those with limited income.
Al-Mamouri said in a statement, “The Parliamentary Services and Reconstruction Committee held an expanded meeting at its headquarters, in the presence of the Minister of Construction and Housing, the head of the Investment Commission and the directors of planning and housing in the Ministry of Construction and Housing to discuss investment projects and to find out the reasons for the delay in implementing a number of them.”
He added, “Iraq suffers from a stifling housing crisis and needs three million housing units, which calls for taking serious measures and overcoming any obstacles that may hinder real solutions to get out of this crisis.”
Al-Mamouri explained, “The number of permits granted to investment projects has reached 2,400, of which 400 have been completed or under construction, while there are 1,800 lagging projects and 1,000 housing projects that are between fictitious and unfinished, in addition to others incomplete, although citizens continue to pay money.”
He added, “During the meeting, it was emphasized the importance of overcoming all obstacles that hinder the advancement of investment, accountability and withdrawal of work from lagging companies and contracting with others that have sobriety and efficiency to move forward in the reconstruction process.”
Al-Maamouri revealed that “14 modern residential cities will soon be built in all governorates, with 550 thousand housing units for those with limited income, as during the coming days, a number of them will be officially announced for direct implementation.”
alliraqnews.com
Saleh: The government may not need borrowing for this reason
2021-03-01
Saleh – The government may not need borrowing for this reasonThe economic advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Monday, that the difference in the price of a barrel of oil in the budget goes to fill the deficit, and the government may not need to borrow, indicating that developing a supplementary budget remains according to the government’s need.
Saleh said in a dialogue that “the budget was built on a deficit, meaning that the expenditures are more, and there can be borrowing, but the difference in the price of a barrel of oil today is filling the deficit, so there is no need for borrowing, that is, the surplus replaces borrowings.”
He added, “This difference in the price of a barrel of oil closes the deficit in the budget, and the government may not need to borrow.” Oil ».
And on the existence of a complementary budget, Saleh indicated that “creating a supplementary budget is not necessary, but remains according to the government’s need and the extent of the revenue strength, and does it have important projects that are deferred that need a supplementary budget.”
burathanews.com
Could mean DELETE THE ZEROES in the budget from TRILLIONS to BILLIONS…”Including the degrees of deletion and creation in the budget”
FULL ARTICLE
New statement from the Minister of Finance regarding income tax, exchange rate, and salaries of 2021
03/2021/02
Minister of Finance, Ali Abdul Amir Allawi, issued today, Tuesday (March 2, 2021), new statements regarding changing the exchange rate of the dollar and the 2021 budget.
Allawi said in an interview with the Iraqi News Agency (INA), that “the government’s white paper for economic reform focused On limiting expenditures and introducing the principle of economic pricing, “adding,” It is not possible to proceed with economic development and place Iraq on a new path without addressing the problems. ”
He pointed out that “the white paper focused on treating 600 procedures in 60 packages.”
With regard to the budget file, he said, “There are no technical issues that hinder voting on the budget.”
“We do not know the final form of the general budget amended by Parliament, and we have submitted the additional positions on the budget to the Parliamentary Finance Committee,” he said.
He continued that ”
And he declared,”Including the degrees of deletionand creationin the budget, as well as the allocations for lecturers and doctors.”
The minister said that “the deficit in the 2021 budget fell to about 30 trillion dinars, while the price of a barrel in the budget was based on $ 45.”
He added, “It also included paragraphs that support the poor, social care, and support for anti-Corona efforts in the 2021 budget.”
The Minister of Finance expected that “the House of Representatives will set the application of income tax on all salaries and allowances.”
In response to the parliamentary demands to amend the exchange rate, Allawi said, “The dollar exchange rate is a governmental decision that cannot be changed daily as desired,” indicating that “the markets have accepted the current exchange rate and will give incentives over the coming years to the private sector and strengthen reserves.”
The minister promised to “find stability by paying the employees’ salaries on time.”
https://baghdadtoday.news/ar/news/147213/%D8%AA%D8%B5%D8%B1%D9%8A%D8%AD-%D8%AC%D8%AF%D9%8A%D8%AF-%D9%85%D9%86-%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D9%85%D8%A7%D9%84
The Iraq Stock Exchange opens the month of March with positive results
stock market.
Market
Economy News – Baghdad
03/01/2021
The first session of the March sessions, the first sessions of this week, Monday, saw the stock market index rise by 1.31%.
During the meeting, 3.3 billion shares were traded, worth 1.8 billion dinars.
And 20 profitable companies contributed to raising the stock market index, while the index recorded a loss of 7 companies.
In turn, foreign investors sold 799 million shares, worth 497 million dinars, after executing 81 deals on the shares of 6 companies.
Shares of the Middle East Bank topped the traded companies, with 973.6 million shares traded.
https://economy-news.net