Wednesday, April 3, 2024
Sudanese Advisor: The World Bank plays a positive and supportive role for the Iraqi economy, 4 APRIL
Sudanese Advisor: The World Bank plays a positive and supportive role for the Iraqi economy
Mawazine News – Baghdad,
the financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Wednesday, that the World Bank plays a positive and supportive role for the Iraqi economy, and its team in Baghdad represents the advisory arm for the government program.
Saleh said, “The World Bank Group in Iraq launched its new relationship with our country in accordance with what was stipulated in UN Security Council Resolution 1483 in May 2003, and it is undertaking the task of mobilizing financial and technical assistance to support Iraq’s efforts to restore confidence in the economy, build its foundations, and reduce the burden of its debt in cooperation with the Fund.” International Monetary.
He added, “After years of wars and conflicts that affected the country’s infrastructure since the 1980s and Iraq’s severance and isolation from the world and multilateral international organizations, the bank contributed by taking its active role after the year 2003, especially in managing a number of development financing funds for the benefit of our country’s economy.”
He continued, “This was done by managing the funds provided by donor countries to Iraq under the Madrid Donors Conference held in October 2003, or by contributing to supporting the private sector through the role assumed by the International Finance Agency (IFC) as one of the arms of the World Bank Group active with the private sector.” As well as through the Bank’s role in supporting some aspects of development and facilitating ways of stabilizing our economy, including providing soft loans provided by the World Bank to support the national economy on various occasions during the last twenty years, specifically during the dual financial and security crisis to confront the ISIS terrorist gangs and the decline in oil prices after… The year 2014.”
He added, “The World Bank also played a role in improving the governance of economic life and rebuilding the requirements of a more powerful and modern digital and development era for the benefit of our country in many areas, in addition to contributing to rebuilding livelihoods by enabling social welfare programs and providing them with plans and programs that address issues of combating poverty.”
He pointed out, “The World Bank works closely with international partners to support economic reforms, specifically in the financial, banking, and public finance sectors.”
Saleh continued, “The World Bank today is not only a financing institution, but rather a bank that provides knowledge and its tools based on its accumulated experience that has reached nearly eighty years. Since its founding in 1945, Iraq was at the forefront of the founding countries of the World Bank Group and the International Monetary Fund, and this is how the bank is viewed.” The International Bank is currently considered an “information and knowledge bank.”
https://www.mawazin.net/Details.aspx?jimare=245252
"RV UPDATE" BY CLARE, 4 APRIL
Clare
Article: "Iraqi economy faces threat as US closes oil revenue account" Quote "...with the closure of the DFI [Development Fund for Iraq] account, Iraq's oil revenue is now being directed to a new account, referred to as IRAQ2. This transition raises concerns...banking specialist Kamaran Qadir Yaqub...warns the protection previously afforded to Iraq's revenue may no longer be guaranteed."
Article: "Al-Shammari reveals the most prominent files of Sudanese’s visit to Washington and the government’s ambition regarding the dollar" Quote: "Al-Sudani's visit to Washington will be practical and will not be for taking pictures...The Iraqi delegation will ask the American side about the reasons for their decisions to impose sanctions on Iraqi banks... Our expectations are that the visit will be very successful..."
Clare
Article "Statement from Press Secretary Karine Jean-Pierre on the Visit of Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House" Quote "On April 15, President Joe Biden will welcome Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House to coordinate on common priorities and reinforce the strong bilateral partnership between the United States and Iraq."
Article: "Al-Sudani intends to visit Washington to lift the ban on banks prohibited from dealing in dollars "
Quote: "The head of the Iraqi Securities Commission, Faisal Al-Haimas, announced that three Iraqi banks were sanctioned by the US Treasury, and 25 banks were banned from dealing in dollars ; ."
Article: "The Central Bank announces an understanding with the US Treasury to reconsider sanctions and indicates 'illegal trade' "
https://dinarevaluation.blogspot.com/2024/03/rv-update-by-clare-19-march.html
Urgent Barzani: We reached with Baghdad an appropriate solution to the issue of allocating Kurdistan salaries, 4 APRIL
The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, announced today, Wednesday, that he had reached an “appropriate solution” with the federal government to the issue of allocating the salaries of employees and litigants in the Kurdistan Region.
Barzani said in a statement to the regional government, a copy of which was received by Al-Furat News, “Thanks to God Almighty and the solid will of our beloved citizens, we have reached an appropriate solution to the issue of allocating the salaries of employees and litigants in the Kurdistan region, after diligent efforts and intense efforts made by the Kurdistan Regional Government team in close cooperation with the Kurdistan Regional Government team.” Prime Minister of the Federal Government.
He added, “I would like to extend my sincere thanks and appreciation to Federal Prime Minister Muhammad Shiaa Al-Sudani, and to all the forces and parties that supported and supported us in overcoming these obstacles and obstacles together.”
Barzani continued, “The Kurdistan region has faced, during the recent period, many attempts to harm its citizens and incite despair in them. I would like to express here my deepest thanks and appreciation to the employees and salary recipients in the region for their steadfastness and steadfastness. We will seek to distribute the salaries of the month of March before the blessed Eid Al-Fitr, especially “With the completion of the process of distributing February salaries within the next two days.”
"RV UPDATE" BY MNT GOAT, 4 APRIL
Mnt Goat
In today’s news articles we learn about the expiration of the extension of the US President’s Executive Order 13303 put in place in 2003. So, there is no extension this year...Why is this so important to us investors? First, the expiration of 13303 shows to us once again that Iraq is slowly moving out of the sanctioned mindset altogether.
But now we moved to a new level. We know that in December of 2022, Iraq completed its war reparations payments to Kuwait and thus followed that all the remaining UN sanctions were lifted.
What happened next was the VERY quick response by the CBI to begin the de-dollarization process in Iraq in 2023.
Then the unanticipated length of resolving the issue of the stability with the parallel market which delayed the process we are now looking for. Last week they told us the parallel market is now under control...I verified this with my CBI contact...Many investors have been waiting for this news...and tell us that this is a VERY GOOD sign for us in that since we no longer will be needing this protection, since maybe the dinar is soon to be free to move into its full potential as a sovereign, global currency...Remember it is normally renewed on April 1st and so what is in stored for us in April? Just saying.
{Al-Furat News} reveals details from Baghdad and Erbil regarding the salaries of the Kurdistan region, 3 APRIL
The leader of the Kurdistan Democratic Party, Wafa Muhammad Karim, revealed the details of Baghdad and Erbil regarding the salaries of the Kurdistan region.
Karim told {Al-Furat News} that: “It was agreed that the resettlement process for employees’ salaries in the Kurdistan region will be completed, and the process needs between 4 to 6 months to complete.”
He added, “Prime Minister Muhammad Shiaa Al-Sudani indicated that the Baghdad government will send salaries until the resettlement process is completed.”
Karim pointed out, “There is a problem in the resettlement process, as the federal government stipulated that resettlement be limited to the Rasheed and Rafidain banks, while the region objected and wanted resettlement to be through a bank account and a project specific to the region.”
He added, “No agreement has been reached in this regard or the salaries that will be sent for the month of March.”
The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, announced today, Wednesday, that he had reached an “appropriate solution” with the federal government to the issue of allocating the salaries of employees and litigants in the Kurdistan Region.
Today, the Accounting Department of the Federal Ministry of Finance launched the remaining salary funding for members of security institutions in the region for the month of February.
She indicated that the funding came in accordance with what was stated in the letter of the Ministry of Finance and the Accounting Department No. 9133 on 4/3/2024 after fulfilling all the requirements followed in financing the salaries of federal government employees, and based on what was stated in the books of the Financial Supervision Bureau No. 8422 on 3/28/2024. And 8670 as of 4/1/2024.
From: Raghad Dahham
"LET'S HOPE IT UNLOCKS THIS WEEK" BY HERNAN BRAVO (ENGLISH, PORTUGUES AND SPANISH), 3 APRIL
Brazilian operations that are LTN and TDA generated by the group of G20 (military) + G10 (Miguel)
These are in the ranking of the 4 countries that will start the nationals
Marcio precaorio = Dubai 2
Then there is the operation headed by Marcio (American precatório)
G20+G13 = Dubai 01
When both lineups activate the first payouts, these groups
This act will unlock Level 3.
What are the fundamentals and international tables in T4a and T4b
Let's hope it unlocks this week
since it is scheduled to take place within the month of April
Everything is lined up, but we don't know if it will happen this week or next.
launching Brazil, Colombia, Zurich and USA (RENO)
START INTERNATIONAL PROCEDURES
👆Valdecir Development Foundation
LET'S PRAY FOR IT TO BE THIS MONTH.
Greetings
Hernán Robert Hbravo
TRANSLATION POTUGUES
Martes 02 Abril 2024
Valdecir fundação DesarrolloFundación para el Desarrollo ValdecirA government advisor reveals the size of Iraq’s foreign and internal debts: We plan to pay them, 3 APRIL
A government advisor reveals the size of Iraq’s foreign and internal debts: We plan to pay them
Baghdad today – Baghdad
Today, Wednesday (April 3, 2024), Muhammad Mazhar Salih, the financial and economic advisor to the Prime Minister, revealed the size of Iraq’s foreign and internal debts, while indicating a government plan to pay them.
Saleh told “Baghdad Today”, “Iraq’s external debt is very small and constitutes less than (30%) of the country’s gross domestic product, and this percentage is less than the standard and safe percentage, which is (60%) according to European Union standards.”
He explained, “Iraq has a plan to repay these debts, and the remaining debt is less than $20 billion. Nearly a third of it will be paid during this year and may decrease significantly over the next few years.”
He added, “The largest debt is internal, and this debt does not pose any risk, as it is within government financial institutions, and is not a debt between individuals and the government, and about (98%) is debt between the government, government banks, the Central Bank of Iraq, and the Ministry of Finance,” indicating that “there is A plan to settle these debts in the future in a way that does not constitute any burden.”
The financial advisor to the Prime Minister indicated that “the internal debt is estimated at 50 billion dollars, but it is within the official government financial institution, and the central bank controls approximately (64%) of it,” stressing that “the external debt is the most important and Iraq is committed to paying it.”
Yesterday, Tuesday, the Council of Ministers approved the recommendation of the Ministerial Council for the Economy (24207) for the year 2024, which included the approval of the Diwaniyah Order Committee’s recommendation 23942, related to foreign debt. The recommendation included :
1- The Ministry of Planning’s study of projects canceled from loans; To discuss the possibility of including it in funding sources from the federal general budget .
2- The Ministry of Finance will verify the existence of any financial obligations that may result from canceling these projects with the loan donors when implementing the decision .
3- Canceling delayed loans, worth $1.05 billion, and completing important projects from government funding sources .
4- Canceling borrowing requests worth $5.8 billion for the Basra water desalination and sky train projects, financing the first project from the regional development budget, and financing the second project by offering it for investment .
5- Reducing the current external public debt, amounting to $10.5 billion, to $8.9 billion .
6- Redirecting World Bank loans for lagging projects and other surpluses towards implementing the vital railway link project (Faw – Rabia – Fish Khabour) .
7- Contracting with an international financial consultant to audit and manage foreign debts in the future.
"Iraqi Dinar Update " BY ARIEL VIA TWITTER, 3 APRIL
@PROLOTARIO1
Iraqi Dinar Update From Crytopolitan.com
Report:
Central banks globally are hoarding gold, hinting at worries over the US dollar’s stability. The move is led by BRICS nations, aiming to lessen their reliance on the dollar in international trade. Gold is being amassed as a strategic asset against potential dollar depreciation and a broader financial shift.
The global stage is brimming with tension, and it’s not the kind that just ends when the credits roll. No, this suspense is way heavier and could hit your wallet like a ton of bricks. ~Jai Hamid ________________
Ariel:
Now why did I post this? Well let's briefly go over the recent announcement by Iraq. On Thursday, 100 US dollars were exchanged for 146,750 Iraqi dinars in the Kurdistan Region. This is the lowest level the USD has seen in over 10 months. As of the beginning of the week, the value of each 100 US dollars was approximately 150,000 IQD, but quickly declined, so the value of each 100 USD declined by more than 3,000 IQD.
Now what does this mean for the potential 1:1 or 3:1 parity of the IQD/USD where people who hold IQD can exchange and covert them to USD at a 1:1 or 3:1 exchange rate this year? Well if you are going off this report alone the difference in the decline decline in the value of the USD against the IQD from 150,000 IQD per 100 USD to 146,750 IQD per 100 USD is only about 2.2%. Which is no big deal.
Iraq is one of those Central Banks who are sitting on tons of gold. This will help absorb the economic shock once they reinstate their currency on the Forex Market. Because remember all the BRICS Nations are waiting for Iraq. So everyone around the world is preparing. Because I told you all to keep your eyes on the following.
1. The Investment Law
2. The Budget Law
3. The HCL Law Let's go over these three areas briefly. The Investment Law in Iraq, known as Investment Law No. 13 of 2006 (amended in 2015), aims to promote and facilitate both foreign and domestic investment in the country.
The law provides a framework for investment in various sectors, including industry, agriculture, tourism, and infrastructure.
5 Key Aspects of The Investment Law • Equal Treatment • Investment Incentives • One-Stop Shop • Land Allocation • Dispute Resolution Despite the favorable provisions of the Investment Law, Iraq still faces challenges in attracting foreign investment due to security concerns, political instability, corruption, and bureaucratic hurdles.
So what is the one thing they need to fix this? The new exchange rate. What is next? The Budget Law Now what did the finance committee come out and say a few days ago?
The Parliamentary Finance Committee, last Thursday (March 28, 2024), reassured employees and retirees regarding their salaries in the financial budget for the year 2024. What are the main things in the Budget Law? Well you would have to look in the 2023 budget first because these projects have not been financed with the new currency exchange rate.
Infrastructure development: Funds allocated for various infrastructure projects, such as roads, bridges, and public facilities. Oil & Gas Sector: Investments in the oil and gas industry to increase production, upgrade facilities, and improve the sector's overall performance. Electricity sector: Projects to enhance electricity generation, transmission, and distribution to address the country's chronic power shortages. Water resources: Allocations for water management projects, including irrigation systems, dams, and water treatment plants.
Agriculture:
Support for agricultural projects and initiatives to promote food security and rural development. Reconstruction efforts: Funds dedicated to rebuilding areas affected by conflict and terrorism, particularly in provinces such as Nineveh, Anbar, and Salahuddin. Economic reforms: Initiatives to diversify the economy, attract foreign investment, and support the private sector. Guess what? All of these projects have been on hold for years. The most important ones being infrastructure, economic reforms, and the electricity sector. Iraq and Iran recently signed an electricity deal in March 2023. The agreement was signed during Iranian Energy Minister Ali Akbar Mehrabian's visit to Baghdad on March 7, 2023. Under this deal, Iran will continue to supply electricity to Iraq for the next two years. So we got that out of the way. Because it makes sense to ensure they have this in order to ensure stability in operations to facilitate an electronic transfer of new currency values. Because what did Al-Sudani tell the Iraqi citizens? To hold on to their Dinar because it will be the stronger currency in the region. One reason being is because their 2024 budget is equivalent to 70 tons of gold. Not only that Al-Sudani said they will be making an announcement before the end if Ramadan. Which should be sometime Monday for us to know what this is. Because their new fiscal year starts on April 1st. So I guess they will open up the books on their portfolio. Again I just listed many projects that need an exchange rate. So what is the current status of the 2024 budget? Well let's look and see what a member of the Parliamentary Committee said a couple of days ago.
Qoute: " The head of the committee, Atwan Al-Atwani, told the official agency, followed by “Baghdad Today,” “We are awaiting the arrival of the 2024 budget schedules.” He added, "The salaries of employees, retirees, and the protection network are secured in the 2024 budget." Al-Atwani stressed, "There is no financial crisis in Iraq."
End quote. And what is the one thing Iraq needs in order for this budget to have any real value for their economy? The new exchange rate. Will this be apart of the announcement Al-Sudani has mentioned? We will see. Do they have the luxury of dragging their feet another month or so for that matter? Absolutely not. One reason being is this. Prime Minister Muhammad Shiaa Al-Sudani announced last Thursday, the start of setting 2024 budget schedules that include added financial entitlements to the governorates that will be allocated to infrastructure. What are the entitlements? One major one is the HCL Law. Thought I forgot to mention this one didn't you? This law is basically a constitutional requirement for the Oil & Gas allocations that will be based on the exchange rate that has yet to he shown. It allows the citizens to get a monthly stipend. Here's how the proposed stipend system could work under the HCL: Revenue allocation: A percentage of the revenues generated from Iraq's oil and gas exports would be set aside for distribution among Iraqi citizens.
Eligibility:
All Iraqi citizens, regardless of their region, ethnicity, or religion, would be eligible to receive the monthly stipend. Distribution mechanism: The stipend would be distributed through a national fund or a designated government agency, possibly linked to the existing Public Distribution System (PDS) that provides essential food items to Iraqis. So as you can see they are in prime position to open their budget. Because this also mentions the citizens in this statement regarding their entitlements.
Article quote: "...In addition to the possibility of achieving a significant increase in its financial incomes that would raise the purchasing power of the Iraqi individual...". Purchasing power will only come from the new rate. They are running against the clock people.
Keep your eyes on the budget over these next few days. That's where our financial freedom is. This is the most exciting update because Iraq officially announced they are ready to open it. Goodluck out there.
Evening News with MarkZ. 04/03/2024
"RV UPDATE" BY CAPTKYLE PATRIOT, 3 APRIL
CAPTKYLE PATRIOT
In early April, the announcement regarding the launch of NESARA is anticipated. A Global Emergency Broadcast System will be activated, featuring documentaries aimed at enlightening the masses about recent events.
To facilitate this, a global lockdown lasting 10 to 12 days will commence, with a message broadcasted on the EBS instructing everyone to stay home during a specific 5-hour window. Throughout the lockdown period, comprehensive documentaries will air across all stations, providing full disclosure of recent developments.
Upon the conclusion of the lockdown, an 800 number will be provided for the public to schedule appointments to set up their Quantum accounts, ensuring everyone globally receives a sum of money deposited into their accounts.
Recent weeks have seen limited updates from the QFS Team due to significant events unfolding, including the seizure of approximately 75 banks and closure of all Cabal accounts. Assets from these accounts have been transferred to Quantum Financial Accounts for redistribution to the people, including trust funds.
With the implementation of the Quantum Financial System, financial transactions are transparent and secure, eliminating corruption and fraudulent activities.
All Central Banks have transitioned to the QFS, operating under the ISO 20022 standard, ensuring accountability and traceability of funds. The imminent crash of the Stock Market heralds its demise, with personal bank accounts now reflected in Quantum Financial Accounts, except for investments and shares, which will be transitioned to a new system upon the QFS's approval.
Assurances are given that all bank accounts, savings, and retirement accounts are secure. The anticipated date of April 1st may be delayed due to adjustments according to the Julian calendar, signaling a new beginning.
Dinar Chronicles
https://twitter.com/JackStr42679640/status/1774355620260725104?t=gbxY0-ev6cJ5KzC9aVGRHw&s=19
@CaptKylePatriots