The Territory Commercial Bank announces financing Iraq's trade with India in rupees
2/27/2024 Baghdad
The Territory Commercial Bank announced financing trade between Iraq and India in the rupee currency.
The bank said in a press statement, “We announce the launch of a pioneering initiative to enhance trade exchange between Iraq and India, where trading partners can now conduct their financial transactions in the Indian rupee. This step aims to facilitate and accelerate commercial operations between the two countries by providing simplified and effective financial solutions.”
He added, "Within the framework of this initiative, the Territory Commercial Bank opened an account in Indian rupees with DBS Bank in New Delhi, which allows cross-border financial transactions to be carried out more easily and efficiently. This transformation aims to eliminate the challenges related to currency exchange and reduce transaction costs and the time required to complete them." “This will reflect positively on the efficiency of trade between Iraq and India.”
Thebank indicated that we assure our customers that all transactions inthe Indian rupee will be conducted in accordance with the laws anddirectives set by the Central Bank of Iraq, to ensure complete safetyand transparency in all operations.
The bank called on companies operating in the field of trade between Iraq and India to benefit from this service, which provides them with the opportunity to improve efficiency and reduce costs. LINK
Article: "The Prime Minister of the Kurdistan Regional Government arrives in Washington on an official visit”
Article quote: "the prevailing proposal is to replace every thousand dinars of the current currency with one dinar of the new currency...
The deleting zeros can achieve many benefits, the most important of which is getting rid of high inflation pressures on the economy and restoring confidence in the national currency and the monetary system as a whole, facilitating accounting processes and cash exchange between citizens, and reducing the cost of managing and maintaining the monetary block by reducing its volume under circulation"
Article: "Biden's envoy arrives in Baghdad and meets Al-Sudani"
Article: " Al-Sudani is making an upcoming visit to Washington"
Quote "The two sides discussed the files that will be raised during the Prime Minister’s upcoming visit to Washington, and the cooperation mechanism within the strategic framework agreement between Iraq and the United States, and the committees formed in this regard,”
Article: "Al-Sudani is making an upcoming visit to Washington" Quote "The two sides discussed the files that will be raised during the Prime Minister’s upcoming visit to Washington, and the cooperation mechanism within the strategic framework agreement between Iraq and the United States, and the committees formed in this regard ,”
"ANALYSIS OF IRAQ NEWS"
Al-Sudani’s Office: The Iraqi speech in Munich was frank about issues of sovereignty, security, and economic partnerships
2/17/2024
Director of the Media Office of the Prime Minister, Rabie Nader, confirmed today, Saturday, that the Iraqi speech in Munich was frank on issues of sovereignty, security, and serious economic partnerships.
Nader said, in a tweet on the {X} platform, that: “More than 22 meetings were held by the Prime Minister in Munich in just two days, and the Iraqi speech was frank on issues of sovereignty, security, and serious economic partnerships.”
He added, “There was great international understanding of Iraq’s desire to move the relationship with the international coalition countries from security to strategic partnerships in various fields, and the messages were clear that Iraq’s security is necessary for the security of the region and a stable Iraq is in everyone’s interest.”
Nard continued, “Iraq is a meeting point and refuses to be an arena for settling scores, and the international community must move quickly to stop the war on Gaza.” LINK
Clare: Al-Sudani discusses with members of the US Congress the end of the international coalition’s mission and the transition to bilateral relations
2/17/2024
Prime Minister Muhammad Shiaa Al-Sudani discussed, with members of the US Congress, today, Saturday, the end of the international coalition’s mission in Iraq.
Al-Sudani’s media office stated in a statement received by {Al-Furat News} that “Prime Minister Muhammad Shia’ al-Sudani received four members of the US Congress, namely: Mike Turner, McKeirl, Joe Wilson, and Gerry Connolly, on the sidelines of his Excellency’s participation in the 2024 Munich Security Conference.” .
The statement added, “During the meeting, bilateral relations between Iraq and the United States were discussed, and ways to enhance constructive cooperation, as well as a number of files and issues of common interest were reviewed.
The meeting also touched on the ongoing dialogue regarding ending the mission of the international coalition in Iraq, after the arrival of the security forces.” Iraq has reached an advanced stage of readiness and high performance, and the transition to broad bilateral relations between Iraq, the United States of America, and the rest of the coalition countries.”
The Prime Minister stressed, “the necessity of developing relations between the two countries at various levels and sectors, without limiting them to the security aspect only,” pointing to “the state of recovery that Iraq is going through, the reforms it is witnessing in various economic and financial sectors, and the progress of concluding integrated economic partnerships with countries in the region.” “And the world, which will contribute to promoting development and achieving stability for the country.”
For their part, members of the US Congress indicated their “interest in the success of the Iraqi government in several aspects,” stressing “the importance of Iraq and its role in enhancing security and stability in the region.” LINK
Parliamentary Finance: Last year’s budget was not spent as required and we are waiting for the new schedules
Member of the Finance Committee in the House of Representatives, Jamal Kujar, said that the 2023 budget was not spent as required, indicating that the Council is waiting for the 2024 budget schedules to be sent from the government.
Cougar stated in a press interview, “The budget was voted on for a period of 3 years, and the government is required to send the schedules for the year 2024 and the paragraphs that may witness amendments, especially related to the numbers of oil quantities in the event of an increase or change, as well as the projects and costs that have been allocated to them.”
He explained, “If a project from the previous budget is completed, it will be removed from the new tables, as well as the paragraphs related to the Kurdistan region in the event of a change to it,” pointing out that “the Finance Committee has no comments on some of the items, since they were voted on, but there may be.” Notes to the government, and these will inevitably be amen ded.”
He pointed out that “the budget schedules have not yet been voted on in the Council of Ministers, because the mechanism for passing them begins with collecting the budgets of the governorates and institutions in the Ministries of Planning and Finance, and then a draft is prepared and sent to the Council of Ministers for discussion, amendment and correction, and then it is returned to the Ministry of Finance, to be completed.” They are finalized and sent again to be voted on in the Council of Ministers, and finally to the House of Representatives.”
Cougar stated, “The budget amounts will be close to the 2023 budget, and there may be an increase in them, since the deficit included in the 2023 budget has not been achieved, meaning that there is no real deficit occurring, and there is a delay in spending the budget, and this led to it not being spent in the required manner.” link
...Iraq is finally breaking the news all about the Project to Delete the Zeros. This is fantastic news but just news for now. The actual execution part is coming and I was told by my weekly call to my CBI contact in Iraq on Saturday, that it will be VERY SOON!
For us investors we are still waiting for OFAC sanctions to be lifted in the US before the banks will “legally” exchange. But exchange at what rate? So, we also wait for another “official” rate change to occur by the CBI prior to the Project to Delete the Zeros.
We know this project is just steps away from the RV/Reinstatement of the dinar back to FOREX. Once on FOREX the OFAC sanctions will have to be lifted. Then we head to the bank to exchange and only at this time. Get it?
I want to quote yet another statement from this recent article – “Banks will be responsible for financing foreign trade directly through the dollars they own” (and not from the CBI reserves). So what does this mean and what is the importance to us as investors?
This means the CBI will no longer be asking the US Treasury to ship plane loads of dollars to Iraq to meet the demand for dollars to pay for imports. Instead, the banks in Iraq themselves will work with banks in the US to transfer dollars. Of course, this will only work if the electronic banking system in Iraq is working and used. We have learned in past news from the CBI the direct connection between electronic banking and the success of the monetary reform implementation. So, this is all interconnected. Again, something as changed, and it appears that finally the electronic Point Of Sale (POS) and consumer debit cards is taking hold in Iraq. This is a decade long project for Iraq.
Then in the same article it also says and I quote – “Banks will be fully responsible for auditing invoices and transfers, which is the practice globally.” What this statement tells us is that banks will now take us new responsibilities, which are common global banking practices for banks. I can only imagine the CBI must have put some stiff penalties on the banks for further. This is how the rest of the world’s banking system works and so we will finally see soon Iraq coming fully out of the sanctioned, isolationist operation of their banking system and joining the rest of the world. We all know Iraq has been fully released from all UN sanctions in December of 2022 and so it will be about time to start acting like it. But we all know things are slow in Iraq and we have to remember that they are also making monumental leaps in technology and fighting corruption along the way.
Al-Atwani calls on the International Monetary Fund and the World Bank to provide the necessary support to Iraq
Chairman of the Finance Committee, Representative Atwan Al-Atwani, called on the International Monetary Fund and the World Bank to provide the necessary support to Iraq in the areas of exchanging experiences and training national cadres.
The media office of the Chairman of the Finance Committee stated in a statement received by the Iraqi News Agency (INA), that “The Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, participated this evening, Monday, via closed-circuit television, in the deliberative meeting of the International Monetary Fund regarding the financial and economic situation in Iraq.”
He added, "Al-Atwani provided a complete briefing on the financial and economic situation and the provisions and programs included in the tripartite budget law for the years (2023-2025) that are consistent with the government program to advance various sectors, activate the private sector, encourage investment, and support investors, in order to achieve sustainable development."
Al-Atwani stressed, according to the statement, that “approving the tripartite budget gave the government great comfort in terms of contracting, implementing projects, and attracting foreign companies to implement major projects,” pointing out that “the Finance Committee, through monitoring spending and financing and implementing plans and programs, seeks integration between the legislative and executive authorities.” Because we want this government to succeed, especially since it is taking steady steps towards achieving the aspirations of the people.”
Al-Atwani pointed out that “the National Service Government is serious about moving the wheel of the economy and development and has ambitious programs to advance various productive sectors and maximize non-oil revenues, to leave the state of excessive dependence on oil in forming the general budget.”
Al-Atwani concluded his participation by calling on the International Monetary Fund and the World Bank to provide the necessary support. For Iraq in the areas of exchanging experiences and training national cadres, to develop our banking system, especially as we are moving towards activating the digital financial dealing system and automating taxes, customs and other service sectors that generate financial revenues for the state. link
After the exchange volume exceeded one billion dollars.. an Iraqi-Syrian move to adopt currencies other than the dollar
The head of the Iraqi-Syrian Business Council, Hassan Sheikh Zaini, revealed that the volume of trade exchange between Iraq and Syria has exceeded the billion-dollar barrier, while pointing out that there is amechanism to adopt currencies other than the dollar in this exchange.
Sheikh Zaini said, “The joint committees between the two countries are lookingfor a mechanism for trade exchange away from the dollar, since Syriacurrently exchanges in the European currency (the euro),” according to the official newspaper.
He added, "There are other platforms and currencies that Syria exchanges with other countries, and Iraq may benefit from them in the event of trade with them, especially with the volume of exchange between the two countries reaching more than a billion dollars annually."
He stated that "the two countries may use the Russian ruble, the Japaneseyen, the Chinese yuan, the Emirati dirham, or other currencies tosustain trade exchange between them," calling for "the establishment of banks for commercial exchanges to enable the possibility of abandoning the dollar and creating another platform in this regard."
He pointed out that "the use of other currencies in trade exchange between Iraq and Syria reveals the two countries' need for each other, by benefiting from products of various types, industrial and agricultural."
He explained, "There are joint Iraqi-Syrian committees at most levels, such as agriculture, industry, trade, transportation, customs, and everything related to food and medicine. They supervise the entry routes for goods and seek to overcome many obstacles that may hinder joint trade between the two countries." link
Article quote: “Iraq is participating for the first time since 2004 in the Ministerial Conference of the World Trade Organization, which is held in... The capital, Abu Dhabi,” Iraq is currently participating in the World Trade Organization.
Their potential membership is moving forward. As a full member of the WTO, they will need a rate to fully participate in this inclusion.
This is truly a monumental achievement for Iraq and something the world has been waiting for for a long time. ...There are high expectations that full acceptance into the WTO for Iraq will happen during this meeting taking place...
House of Representatives: {Oil and Gas} is technical and can be passed
The Parliamentary Oil and Gas Committee pointed out that the oil law is one of the important laws that concerns all of Iraq and not the Kurdistan region alone, noting that its draft contains controversial points that need to be stopped, and despite this, the law can be passed.
Committee member Ali Al-Mashkoor explained, in an interview with Al-Sabah, that “there are seven points of contention regarding the oil law, some of which are administrative, some of which are professional, and the law cannot be proceeded with without being cleared by both parties,” indicating that “one of the administrative disputes in the law is the desire to The Kurdish side should have the right to veto the issuance of decisions.”
Al-Mashkour added, “The region’s percentage in the budget came from the export value of oil, and now there is no export of the region’s oil, not even production,” noting that “the financial share is an entitlement separate from the oil entitlement that the region is supposed to pay, but it will constitute a future obstacle in the budget.” Although it is a fixed share, as it is the right of the Kurdish citizen.”
Al-Mashkoor expressed his optimism in passing the oil and gas law, and said that “the draft can be legislated within an understanding and complementary process, but imposing opinions is incorrect,” explaining that “the law was returned to the government without revision or amendment, even if there were disagreements on some of its points.” ". Al-Mashkoor stated that “the oil law guarantees the rights of all governorates in the available proportion,” pointing out that “some governorates are demanding an increase in their share, whether the request is professional or administrative.” link
Article: "Does deleting the currency’s zeros affect its value? An economist explains"
THE CBI IS SENDING TRUSTED ECONOMISTS TO EXPLAIN THE MONETARY REFORM EDUCATION OF DELETING THE ZEROS FROM THE EXCHANGE RATE! IMO they're about to give the citizens a new exchange rate with new lower notes to match...They already told them that process will then take that exchange rate, which will be at least 1 to 1 but I think is going to be higher, to float in the basket internationally.
Article: "The dinar and its three zeros - is it time to symak the dinar and return to the dinar 1980" IMO [symak means make]
What's so big about 1980?
So you want to return the dinar to the 1980's? By 1971, '72, '73, the Iraqi dinar on the international market was $3.778. Then...it was reduced on purpose to $3.2169 in 1980.
Iraq is one step ahead of us. The Iraqi citizens...are already taking their 3-zero notes and taking them to the bank and opening accounts because they know the monetary reform has educated them...All of a sudden bank accounts just exploded in Iraqi banks...
Parliamentary Finance calls on the World Bank to develop the Iraqi banking system, 27 FEB
Economy News _ Baghdad
The head of the Parliamentary Finance Committee, Atwan Al-Atwani, on Tuesday, called on the International Monetary Fund and the World Bank to provide the necessary support to Iraq in the areas of exchanging experiences and training national cadres, to develop the Iraqi banking system.
The media office of the Presidency of the Parliament said in a statement received by “Economy News”, that “the head of the Finance Committee, Atwan Al-Atwani, participated through a closed-circuit television, in the deliberative meeting of the International Monetary Fund on the financial and economic situation in Iraq.”
The office added that “Al-Atwani provided a briefing on the financial and economic situation and the provisions and programs included in the Triennial Budget Law (2023 _ 2025) in line with the government program to promote various sectors, activate the private sector, encourage investment and support investors, in order to achieve sustainable development.”
According to the statement, Al-Atwani stressed that “the adoption of the tripartite budget gave the government great comfort in terms of contracting, implementing projects and attracting foreign companies to implement major projects,” pointing out that “the Finance Committee, through monitoring spending, financing and implementing plans and programs, seeks integration between the legislative and executive authorities, because we want this government to succeed, especially as it is taking steady steps towards achieving the aspirations of the people.”
The head of the committee pointed out that “the national service government is serious about moving the wheel of the economy and development and has ambitious programs to promote various productive sectors and maximize non-oil revenues, to leave the state of excessive dependence on oil in the formation of the general budget.”
Al-Atwani called on the International Monetary Fund and the World Bank to “provide the necessary support to Iraq in the fields of exchanging experiences and training national cadres, to develop our banking system, especially as we are moving towards activating the digital financial transaction system, tax automation, customs and other service sectors that generate financial revenues for the country.”
We are clearly witnessing a shift in money flows regarding Treasury Bonds. The Global Economy is already changing the way we live and how we invest in the future.
Investor sentiment is changing. The move from intermediate term Treasury Bonds to bonds with maturity dates of two, three, five, and even 10 years out are getting a second look.
Society is realizing that our economy is in transition, and many investors are beginning to pour their money into longer term opportunities to grow their money. It looks like people are beginning to bank on a brighter future.
As our tokenized assets settle into new price patterns, the new digital gold economy will bring in new life inside a QFS.
The Volume Of Trade Exchange Between Iraq And Syria Exceeds One Billion Dollars
Economy 02-27-2024 | Al-Sumaria News – Economy The head of the Iraqi-Syrian Business Council, Hassan Sheikh Zaini, revealed that the volume of trade exchange between Iraq and Syria has exceeded the billion-dollar barrier, while pointing out the existence of a mechanism to adopt currencies other than the dollar in this exchange.
Sheikh Zaini said, “The joint committees between the two countries are looking for a mechanism for trade exchange away from the dollar, since Syria currently exchanges in the European currency (the euro),” according to the official Al-Sabah newspaper.
He added, "There are other platforms and currencies that Syria exchanges with other countries, and Iraq may benefit from them in the event of trade with them, especially with the volume of exchange between the two countries reaching more than a billion dollars annually."
He stated that "the two countries may use the Russian ruble, the Japanese yen, the Chinese yuan, the Emirati dirham, or other currencies to sustain trade exchange between them," calling for "the establishment of banks for commercial exchanges to enable the possibility of abandoning the dollar and creating another platform in this regard."
He pointed out that "the use of other currencies in trade exchange between Iraq and Syria reveals the two countries' need for each other, by benefiting from products of various types, industrial and agricultural."
He explained, "There are joint Iraqi-Syrian committees at most levels, such as agriculture, industry, trade, transportation, customs, and everything related to food and medicine. They supervise the entry routes for goods and seek to overcome many obstacles that may hinder joint trade between the two countries." LINK
" Hoy, Argelia, Comoras, Irak, la República Libanesa, Libia, Somalia, Sudán y la República Árabe Siria están en proceso de adhesión al Artículo XII..."
Ocho países se adhirieron ayer a la OMC. Irak fue uno de ellos. Está en el sitio web de la OMC. La reunión de la OMC finaliza el 29 de febrero. ~ acebo
Diversifying Iraq's Economy And Combating Corruption Is A Path Towards Sustainable Economic Growth
Posted On 02-27-2024 By Sotaliraq Translated by / Hamed Ahmed A report by Frontier Post, the economic website, pointed out that the elements for the prosperity and growth of Iraq’s economy in a sustainable manner lie in several main factors, the most important of which is diversifying the sources of the economy, combating corruption, enhancing confidence in attracting investments, and strengthening the private sector, which helps the country reduce its dependence on oil towards a more prosperous economic future.
The report indicated that the Iraqi Parliament, in its drive towards achieving development in the country, voted last year on a record budget for a period of three years from 2023 to 2025, with a total value of approximately 198.9 trillion Iraqi dinars ($153 billion), which will provide funding for important infrastructure projects.
Long years of neglect and lack of investment have called for an urgent need to rebuild dilapidated infrastructure and repair and modernize necessary service facilities such as roads, bridges, schools and hospitals.
The report states that by giving priority to the development and development of infrastructure, the country is preparing a launching pad towards economic prosperity and providing room for the private sector that would provide job opportunities that contribute to the process of economic growth.
Another important aspect that the report pointed out is the government’s strict approach towards an anti-corruption campaign, as the corruption factor hinders development and weakens confidence in state institutions. It leads to the depletion of public funds, which hinders the financing of important service projects, and at the same time constitutes a frustration factor for investors, creating an unencouraging business environment for them.
Therefore, anti-corruption efforts are a fundamental pillar of good management, as strengthening accounting, accountability and transparency is a factor that attracts foreign investments that enhance the country's economic growth.
Another important factor in promoting sustainable economic growth in Iraq is to focus on the need to achieve economic diversification of the country's resources, and this was represented by ambitious initiatives to attract foreign investments and form international and regional economic partnerships. Among these initiatives is the Development Road Project, which would enhance the importance of the diversification of the Iraqi economy, and it represents a vital step in Iraq’s journey towards economic diversification and communication with the economy of the outside world.
This project has two benefits: reducing the country's dependence on oil revenues and enhancing, at the same time, Iraq's position as an important station for international and regional trade.
The fact that Iraq occupies an important geographical location linking the Gulf, Asia and Europe, thus provides an important corridor for transporting goods through this project between Europe and Asia, which constitutes an important factor towards a prosperous economic future.
By developing modern transportation infrastructure and logistical support networks, the country's ambition for this project includes the flow of commercial lines, reducing expenses, enhancing efficiency, and thus attracting investments that promote sustainable economic growth.
The report indicates that partnerships with global economic powers and investment companies indicate the country's direction towards strengthening international cooperation that is beneficial to both parties, and through this Iraq can transfer expertise, resources and advanced external technological technologies that contribute to enhancing its goals in economic development. ‘
The report states that as Iraq seeks to enter into joint infrastructure projects and investments and exchange technology, it will reap multiple benefits that go beyond abstract economic benefits. The country can obtain the latest technology and the best solutions, thus enhancing Iraq's capabilities towards achieving sustainable development and achieving external economic competition.
Other benefits of this economic cooperation are the transfer of knowledge, the enhancement of local skills, and the development of human resources, which in turn strengthens Iraq’s economy and builds more sustainable economic components that can withstand future challenges.
The report stressed that by giving priority to development, fighting corruption, and promoting foreign investment, Iraq is setting a road map for sustainable growth and a prosperous economy. The more the country seeks in its efforts to carry out economic reforms and renewal, this is considered a pillar of hope for a strong economy. ‘
The Iraqi government's officials, economists, and economic advisors have expressed their concern about the future of the country's economy, focusing on the need to achieve diversification in the sources of Iraq's economy in order to confront any future shocks related to the fluctuation of oil prices and the possibility of their decline, and to have sustainable sources of financing other than oil resources. LINK
"Let’s show WTO is alive': UAE foreign trade minister says conference can be 'launch pad' for global trade"
The World Trade Organization is discussing with several countries how they are reforming the standards and percentages of trade opportunities among countries from around the Globe.
Focus is on leveling the playing field among some of the smaller countries giving them equal foothold and standing on the world stage.
Offering more Trade Networks for countries will give each country the ability to grow in bilateral trade relationships that will increase the need for their goods and services not seen before.
New demands on local currencies instead of the use of the dollar will provide greater purchasing power for these countries in process of Ascension into the WTO this week, of which, Iraq is one of them.
Finance announces the imminent sending of the 2024 budget schedules to Parliament and pledges the release of Kurdistan salaries on one condition
02-27-2024 By Sotaliraq Finance Minister Taif Sami announced on Monday that the 2024 budget schedules will soon be sent to Parliament. This came while hosting Sami in the Finance Committee.
The minister stated that “employees’ salaries for the year 2024 are fully insured,” noting that “the release of employees’ salaries in the Kurdistan Region during the current month is subject to submitting lists of names, and we have stipulated nationalization to disburse them during the coming months.”
She continued, “We have begun launching financing for the operational budget,” adding, “Soon we will send the 2024 budget schedules to the Council of Ministers for approval and sending them to Parliament.”
For his part, Member of the Parliamentary Finance Committee, Mustafa Sanad, said, “The Parliamentary Finance Committee hosted Finance Minister Taif Sami to discuss a number of topics, including financing the operational budget for the year 2024.”
Sanad explained, “The Minister informed the members of the committee that there is no interruption in funding the budget regarding operations and salaries of employees.”
Sanad continued, “With regard to the salaries of employees in the Kurdistan Region, and after the Federal Court’s decision, this month’s salaries will be financed in the usual manner in place through direct transfers. As for March salaries, the salaries of the region’s employees will be financed through the localization of salaries.”
He concluded by saying, “Funding the salaries of employees in the region will be through the governorates, meaning that the governorate that submits its data directly before the other will localize the salaries of its employees faster.”
Yesterday, Sunday, the Finance Committee in the Iraqi Parliament revealed that it will host the Minister of Finance tomorrow, Monday, to discuss the localization of the salaries of Kurdistan Region employees and the delay in distributing salaries throughout the country.
This comes after the Iraqi Ministry of Finance confirmed that it has taken measures and procedures to secure salary funding on an ongoing basis according to the 2024-2025 budget, denying at the same time political statements that indicated the lack of “financial liquidity.”
It is noteworthy that the Federal Supreme Court (the highest judicial authority in Iraq) decided, on February 21, to oblige the Federal Prime Minister and the Prime Minister of the Kurdistan Regional Government to settle the salaries of employees and workers in the public sector in the region with federal banks.
The court also decided to oblige the submission of the monthly budget for the region’s employees to the Federal Ministry of Finance, while requiring the region’s Council of Ministers to hand over all oil and non-oil revenues to the federal government.
The ruling stressed that the decision to localize the salaries of the region’s employees is final and binding.
“There is radio and TV communication, the latter being more limited about the possible revaluation of our DINAR currency between Thursday, February 29 and Friday March 1, 2024. It is speculative but the media Baghdad Communication is reporting it.”
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Sunday February 25, 2024
Frank26: He says
The Minister of Commerce of the GOI (Government of Iraq) and the CBI (Central Bank of Iraq) have formed a committee to review the prices of
Estate. Eliminate black markets.
Walking Stick has said that when you see the price change, it's time to get excited!
That's upon us now. This is the precursor of the new exchange rate!
Frank26 continues... 3 year budget recalculation/cancellation along with this due to new tariff coming
Today the HCL (Hydrocarbon Laws) are being finalized in Parliament
* Sudan at the grand opening of a refinery.
* CBI on government television saying there are no liquidity problems.
* 92% of all higher denomination dinars have been deposited/traded in preparation for using debit cards and new lower denominations.
* New travel mechanism coming soon ONLY to obtain US Dollars. There are restrictions on US dollars for citizens to use only dinars.
*IQD (Iraqi Dinar) has no restrictions.
* Iraq invests in the petrochemical industry as a leader.
* Al Sudani gave an encouraging speech in which he put economic and banking reforms as one of his top priorities.
* Big dispute in the plenary session of Parliament over the HCL law. You are well prepared to receive the new exchange rate
Frank says don't worry about it.
* All government services will be paid electronically in 2024. It is impossible to have a liquidity problem
* CBI goes from company to company... door to door collecting US dollars to get them off the streets.
* Monetary reform is done first to ensure that economic reforms work.
* The KTFA family comes to Chase and opens their accounts
* Red tape and corruption are being eliminated. Inflation will stop
* A monthly bulletin will be published with prices adjusted to address the floating due to currency changes and factors that affect prices in local markets and the mechanism that will be adopted in calculating prices. That is to say. variable due to the upcoming exchange rate and will be floating as soon as the dollar falls and the three zeros come out.
* Conclusion... Frank26 is excited... You should be too...
Greetings
Hernán Robert Hbravo
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TRANSLATION SPANISH:
Domingo 25 Febrero 2024
Frank26 : Dice
El Ministro de Comercio del GOI (Gobierno de Irak) y el CBI (Banco Central de Irak) han formado un comité para la revisión de los precios de
Bienes. Elimina los mercados negros.
Walking Stick ha dicho que cuando veas la modificación de precios, ¡es hora de emocionarse!
Eso está sobre nosotros ahora. ¡Este es el precursor del nuevo tipo de cambio!
Frank26 continúa... Recálculo/cancelación del presupuesto de 3 años junto con esto debido a la nueva tarifa que viene
Hoy se ultiman en el Parlamento las HCL (Leyes de Hidrocarburos)
* Sudán en gran inauguración de una refinería.
* CBI en la televisión del gobierno diciendo que no hay problemas de liquidez.
* El 92% de todos los dinares de denominación superior se han depositado/negociado en preparación para utilizar tarjetas de débito y nuevas denominaciones inferiores.
* Próximamente nuevo mecanismo para viajes SÓLO para obtener Dólares Estadounidenses. Existen restricciones en dólares estadounidenses para que los ciudadanos utilicen solo dinares.
* IQD (dinar iraquí) no tiene restricciones.
* Irak invierte en la industria petroquímica como líder.
* Al Sudani pronunció un discurso alentador en el que puso las reformas económicas y bancarias como una de sus principales prioridades.
* Gran disputa en el pleno del Parlamento sobre la ley HCL. Está bien preparado para recibir el nuevo tipo de cambio
Frank dice que no te preocupes por eso.
* Todos los servicios gubernamentales se pagarán electrónicamente en 2024. Es imposible tener un problema de liquidez
* CBI va de empresa en empresa... puerta a puerta recogiendo dólares estadounidenses para sacarlos de las calles.
* La reforma monetaria se hace primero para garantizar que las reformas económicas funcionen.
* La familia KTFA llega a Chase y abre sus cuentas
* Se están eliminando los trámites burocráticos y la corrupción. Se detendrá la inflación
* Se publicará un boletín mensual con precios ajustados para atender la flotación por cambios de moneda y factores que afectan los precios en los mercados locales y el mecanismo que se adoptará en el cálculo de precios. Es decir. variable por el tipo de cambio que viene y estará flotando en cuanto el dólar baje y se salgan los tres ceros.
* Conclusión... Frank26 está emocionado... Tú también deberías estarlo...
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