Iraq ranks fourth as the best emerging market for investment in 2024 (infographic)
4/9/2024
Iraq ranked fourth in the foreign direct investment rankings and the best emerging markets for investment in 2024.
A study by the FDI Intelligence website, which specializes in foreign direct investment affairs, indicated, “This classification is evaluated based on several criteria, including the growth of the gross domestic product, the inflation rate, the growth in capital spending in foreign direct investment , and the growth rate in foreign direct investment projects.”
He pointed to "a noticeable improvement in the investment climate in Iraq and the efforts made to strengthen the economic sector and attract more foreign direct investments."
The study explained, “This classification highlights the importance of Iraq as an important investment destination in the region.”
Iraq is getting ready to go international and they are going to become a powerhouse in the world because they have a lot of value. They have a a lot of assets. They have natural resources to the extent...they're 1st, 2nd, 5th, 10th in the world of having the biggest deposits in the world. They also have one of the youngest populations and growing populations...
The WTO and the World Customs Organization are probably chomping at the bit waiting for Iraq to do what? Give themselves a Real Effective Exchange Rate and to move forward..
Al-Sudani is coming to America and hopefully coming home that he has accomplished everything in Iraq's favor as a whole. So give or take, whether it's before he comes home or after he comes home Iraq is going to be whole. That means everything is in Iraq's cards...they have the ability to be sovereign again. That's what we're waiting for.
The spokesman for the Iraqi government, the name of Al-Awadi, announced on Monday that it has reduced the external debt and decreased to approximately $8.9 billion during the current year 2024.
Al-Awadi said in a statement, seen by “Economy News”, that “as an affirmation by the government of transparency in economic work, and to inform national and international public opinion and media about Iraqi economic performance, and in light of the approval by the Council of Ministers of the recommendations of the Diwan Order Committee 23942, related to the regulation of external borrowing of Iraqi public foreign debt, the government has taken a series of executive measures, and adopted a package of financial decisions, which ended in reducing external public debt by more than 50%, to reduce the debt from $1 19.729 billion in late 2022, to $15.976 billion in 2023, to nearly $8.9 billion this year.”
Al-Awadi explained that “these financial steps, (which included stopping a number of borrowing operations due to their relaxity and non-productivity, regulating, managing and auditing debts, and restructuring some debts and directing them to create strategic projects), aim not to mortgage the Iraqi economy to commitments that may affect, in the future, the political decision, or the path of national development, and they coincide with an urban renaissance, and reconstruction in infrastructure, which opens the way for a promising future and a refreshing economy, in which our current and future generations perform the best performance, and receive the greatest opportunities.”
He pointed out that “the government organized the process of financing cooperation with the international community in specific contexts, including direct and productive borrowing, providing sovereign guarantees to ensure the production of projects carried out by the private sector for the benefit of the government, and the sovereign guarantees provided by the government for the benefit of institutions that finance the Iraqi private sector importing production lines in order to build factories inside Iraq.”
He stressed that “these steps pave the way for the further integration of our country into the international economic cycle, and that the government adopts the principle of productive borrowing only, which effectively leads to an increase in GDP, and the financing of service and productive national projects with economic returns, in order to ensure their completion and not delay.”
Al-Awadi continued, “With these steady steps, the government renews its determination to continue to make a qualitative leap in the Iraqi economy, in parallel with a tangible development in the services, infrastructure and social welfare sectors, which are all the pillars required to meet the aspirations of our people throughout Iraq, and implement the government program with its priorities and objectives.”
I heard there will be more activity from Redemption banks for later this month as they are getting some last minute instructions... They even used the term “Last minute instructions” So I take that as a very good sign. I am hopeful we are in the last few days or weeks at worse….
A big thing that just happened is the reopening of the pipeline between Iraq and Turkey. They say it can handle an unlimited amount of oil. This is huge for the amount of oil they are exporting. This means more money for their currency.
Question: Do you think things have started? MarkZ: After this week I have no doubts that things have started. And are well underway. I think we are in the rollout process right now.
A government consultant explained how Iraq liquidated and reduced its foreign loans and debt.
“A positive indicator of the decline in external obligations, and future external loans will be limited when needed to income-generating and operating projects,” the Prime Minister’s financial adviser, Mazhar Mohammed Saleh told {Euphrates News}.
He pointed out, “Many of the external debts committed to and not withdrawn have been liquidated, which means that Iraq follows {the golden rule} in borrowing, which is spent that the returns on the use of external loans spent on productive projects exceed the cost of the loan itself, and this is what is called {productive external loans}.”
The government spokesman for Al-Awadi announced yesterday that “the government has taken a series of executive measures, and adopted a package of financial decisions, which ended in reducing external public debt by more than 50%, to reduce the debt from $19.729 billion in late 2022, to $15.976 billion in 2023, reaching nearly $8.9 billion this year.” He pointed out, “These financial steps, (which included the suspension of a number of borrowing operations due to their relaxity and non-productivity, organizing, managing and auditing debts, restructuring and directing some debts to establish strategic projects), aim not to mortgage the Iraqi economy to commitments that may affect, in the future, the political decision, or the path of national development, and they coincide with an urban renaissance, and reconstruction of infrastructure, which opens the way for a promising future and a refreshed economy, in which our current and future generations perform the best performance, and receive the greatest opportunities.”
"JAPANESE Prime Minister Fumio Kishida said on Friday (Apr 5) authorities will use “all available means” to deal with excessive Yen falls, stressing Tokyo’s readiness to intervene in the market to prop up the currency."
In other words, Japan has to do what is best for their own country at this point. If it means to change monetary policies for their currency, it is going to happen.
These changes will begin to affect shipping prices around the world as Japan formulates new price pressures that will formulate new correlations between other countries' currencies going forward.
This is why it is so important to watch the water because most of our trade actually takes place because of it. New demands such as these have a way of creating a ripple effect across the waters.
This move has the potential to decouple from the dollar as the World Reserve Asset currently dominating trade relations.
ADVISER TO THE PRIME MINISTER: IRAQ IS WITHIN THE SAFE RANGE COUNTRIES IN TERMS OF PAYING FOREIGN DEBTS
Today, Thursday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the reasons for reducing annual allocations to pay off foreign debts, while noting that Iraq is among the countries in the safe range in terms of debt repayment.
Saleh said to the Iraqi News Agency (INA): “According to international standards in calculating the ability of the national economy to bear the burden of external debt, Iraq is among the group of countries in the safe range in terms of the global standard for the ratio of the external debt stock,” indicating that “the gross domestic product According to estimates, it does not exceed 20 percent, while the global measure of the debt-to-GDP ratio allows up to 60 percent.
He explained, “Given Iraq’s regularity in repaying its external debts due annually, of which only approximately 20 billion dollars remain, the annual allocations to pay external debts through the federal general budget allocations have begun to show a clear decline and decrease in the amount of external debts due, and this has been reflected.” This is in the 2024 budget tables regarding allocations for external debt payments, compared to the 2023 budget tables, with a difference of decrease that may exceed a billion dollars.
He added, “This matter is reflected in Iraq’s high creditworthiness in repaying its debts to external creditors and its commitment to repayment since the Paris Club Agreement in 2004 until the present. These are annual financial allocation mechanisms whose installments and interest are paid on a regular basis through the annual general budget, and they are decreasing. This means that the external debt gap is heading towards shrinking and then almost disappearing.”
He noted that “the Paris Club Agreement in 2004 dropped more than 100 billion dollars of Iraq’s pre-1990 debt after Iraq obtained a discount on its debts at that time, which was 80 percent and more, and only a little of the remnants of those debts remained after it was removed.” The remainder of it has been scheduled and is paid annually according to a precise and regular accounting mechanism on the part of Public Finance and the Central Bank of Iraq, and the continuous decrease in its allocations is demonstrated by the amount of the decrease in the annual allocation of external receivables from the debts that must be paid and their waiver annually.”
Monetary Revolution: The Fed Considers Ditching Fiat Currency For Gold BY AWAKE IN 3D, 9 APRIL
Is the U.S. on the Verge of Adopting a Beneficial Financial System Reset?
An unbelievable financial report was recently released outlining mathematically modeled scenarios for moving from Fiat to Gold financial systems.
I couldn’t believe my eyes when I read this Philadelphia Federal Reserve Bank’s February 2024 analysis and Working Paper.
The Fed, a principal overlord of modern fiat debt currency finance, is seriously contemplating a move that seems straight out of history books: bringing back a gold-backed currency for the United States and the global financial system.
How does an economy behave in a historical environment where gold is the international monetary standard? We find that key features of this monetary system are long-run price stability and the nonneutrality of money in the short run.
The Philadelphia Federal Reserve Bank Working Paper. February 2024
This isn’t a drill or a speculative thought experiment.
Given the dire predictions for our current fiat currency system, which is not backed by physical commodities and is on a crash course toward certain failure, this old-school idea suddenly makes all the sense in the world.
About the Philadelphia FED’s Surprising Working Paper
This detailed examination, rooted in meticulously crafted economic modeling and historical insights, raises critical questions about the sustainability of the current fiat currency system.
The Federal Reserve’s exploration into this territory is not merely an academic exercise but a profound indication of the serious considerations at play to avert a financial system collapse that everyone knows is “mathematically certain and inescapable.”
The study, while complex, digs deeply into the foundational principles of the gold standard, underlining how such a system historically ensured long-term price stability and economic equilibrium.
In essence, the gold standard acts as a self-regulating mechanism for the money supply, linking the issuance of currency directly to gold reserves. This link curtails the propensity for unchecked money printing, a critical flaw in fiat systems that often leads to inflation or worse, hyperinflation.
Understanding the Gold Standard
Allow me to break down what this all means.
The gold standard is a monetary system where a country’s currency has a direct link to gold. So, if you have paper money notes, you can exchange it for a certain amount of gold.
Historically, this system kept economies stable because it prevented governments from printing money willy-nilly, which can lead to inflation or even hyperinflation.
The Fed’s report points out that with a gold standard, we’d likely see a more stable long-term economy, with fewer sudden spikes or drops in prices.
Why This Matters Now
You might wonder, why consider this now? The Fed’s analysis shines a light on three big reasons:
Long-term Price Stability: Gold ties the hands of those who print money, ensuring that over time, prices don’t wildly fluctuate. Think of it as a financial thermostat that keeps the economy at a comfortable temperature.
Money That Means Something
: Right now, if the economy starts to falter, the government can just decide to print more money. Under a gold standard, this wouldn’t be as easy. Money would have real value tied to something physical, and as a result, its impact on the economy would be more predictable and steady.
Protection from Economic Storms: The world economy is a complex web of trade and investment. The Fed believes that linking money to gold could act as a buffer against sudden shocks from abroad that can send our economy into a tailspin.
The Challenge Ahead
However, don’t think transitioning back to gold would be easy. It would require a delicate restructuring of international trade, balancing how much gold comes in and goes out of the country.
The Fed’s report is clear-eyed about these challenges. It talks about the need for careful policy planning and international cooperation to manage these complex dynamics effectively.
The very fact that the Fed is even considering this move is a wake-up call. It signals a profound concern about the sustainability of our current financial system.
This isn’t about looking backward with nostalgia. It’s suggests a forward-thinking strategy aimed at preventing a total economic collapse.
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Evening Mark and the gang!
Member: good Tuesday Evening…hope everyone had a good day
Member: I know something that would have made it a really good day…lol….Whats new MarkZ?
MZ: Been quiet on the RV front…quiet from Banks, bonds, Iraq and redemption centers.
MZ: I do have one Iraqi contact that is convinced we are in a day or two. I think he may be premature…but he is convinced it is this week. He does work in the Iraqi government so he may know more than I do. I am hoping he does.
MZ But I am keeping an eye on it.
MZ: Bond folks are still looking between the 15th-22nd of April.
MZ: There is some interesting news from Zimbabwe.”Zimbabwe’s new ZIG currency strengthens on the second day of trading. “ It gained .2% overnight . It is gaining strength….and it should being gold/asset backed.
MZ: “The US dollar is doomed-Americans praise Zimbabwe for launching new gold backed currency” This is from an African publication…..and they are talking about Americans on social media. But yes- the US dollar is doomed without changes. And many economists believe this too.
MZ: “ Oil Market to get extremely tight in second quarter Citadel says” They are looking for oil to go to $100 dollars a barrel. Now why is this a good thing ? Iraq. …It is good for the revaluation of the dinar. But we will all feel pain at the gas pump if they do not cross the finish line.
Member: How much more can kicking will it take before they release this thing?
Member: Charlie Ward has always said a Thursday, so cross those fingers for the 11th.
Member: Gotta remember everyone, we’re watching one Hell of a movie! Wish it was over with. I’m tired of this popcorn
Member: Lord, we are so weary, strengthen our resolve to help make this the world you wanted for us! Lift us up & bless your faithful to go out & be beautiful examples of unconditional LOVE! We are ready!!
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April 08, 2024 Offering completion bonds :diamonds: This bank, on behalf of the Ministry of Finance, will offer bonds under the name (Injaz Bonds) to the public starting from 4/15/2024 until 5/15/2024.. For more click here https://cbi.iq/static/uploads/up/file-171256457620741.pdf
Based on the letter of the Ministry of Finance No. 196 dated 5/74/7410, which included the start of issuing national bonds. To the public. This bank, on behalf of the Ministry itself, will offer bonds under the name (Injaz Bonds) to the public starting from Date 4/14/1010 until 01/74/5 15. Because the success of the bond selling process depends primarily on your bank. This bank invites you to receive the public and provide everything that will facilitate this process. It will not be promoted and delivered Bonds are issued to the public only through banks. In order to facilitate the procedures for these bonds, we have agreed to provide you with a mechanism for this. As we would like
We inform you of the following: 1. Lump sum administrative commissions will be allocated by the Ministry of Finance amounting to (11) thousand dinars (twenty thousand dinars). For every customer attracted by your bank to buy the bond. The bonds offered will be in two categories:- :copyright:» A bond in denomination (500,000) dinars (five hundred thousand dinars) with annual interest (7.5/) for a period of two years and paid every six Months. :copyright: Bond denomination (1,000,000) dinars (one million dinars) with annual interest (8.5)) for a period of four years and paid every six months also. “Your bank is required to announce to the public through all your branches and on social media pages Your account or any other means of communication that you deem appropriate in a way that makes the purchasing process understandable and non-existent Complicated. 5. The amounts received from the public are collected and transferred at the end of each week to this bank until the end of the period Designated for sale and code (5509). . These bonds are exempt from taxes and related fees. . Adherence to the usual anti-money laundering and counter-terrorism financing procedures and in accordance with the instructions issued in this regard.
. The possibility of using the bonds under study as guarantees in exchange for granting cash credit to customers (companies or individuals)
Provided that the amount and duration of the credit granted do not exceed the value and term of the bonds taken as guarantees.
6. These bonds are traded in buying and selling in the Iraq Stock Exchange. 9. The open market operations office in this bank is provided (exclusively) with the names of those wishing to buy any bonds In paper form or via this office’s e-mail (WZA :copyright:08500.00626). We ask your bank to take the necessary measures to combine efforts and make the bond sale process successful at all stages. With appreciation. Attachments: - Mechanism for issuing completion bonds - Form/number (1) https://cbi.iq/static/uploads/up/file-171256457620741.pdf]
The Beginning Of “Drying Up” Liquidity From The Hands Of The Iraqis.. The Destruction Of “Surplus” Currency And Deposits In Banks Are The Highest Historically
Economy | 30,007 views Alsumaria News - Special Over the past years, all of the economic problems in Iraq internally, whether with regard to corruption, the dollar, the rise in real estate prices, etc., as well as inflation,have been directly linked to the high volume of liquidity and the
printing of money by the Central Bank, as well as the high volume of cash in the hands of the street, citizens or... Capital owners, away fromIraqi banks. Recently, trends and numbers indicate that a reverse process has begun to take place in Iraq, which consists of reducing cash and gettingrid of “surplus printed money” without printing new money in front of it, and increasing banks’ possession of this liquidity instead of leaving it in the hands of the street and citizens, where it can be said that the government and the banking sector And finance in general in Iraq began to “nibble” the existing liquidity and “dry it out” from the hands of the people. In a special review conducted by Al-Sumaria News, it becomes clear that the currency printed or issued in Iraq until February 2024 is the lowest in 8 months, that is, since May 2023, as the currency printed in Iraq reached 99.2 trillion dinars, and the highest historical level reached by the printed currency was recorded. In November 2023, it amounted to 102.6 trillion dinars.
This approach represents getting rid of the currency and not only stopping its printing, but also “destroying it.”
This matter does not seem “absurd,” but rather
it is an approach committed by Iraq
to reform liquidity management and with recommendations from the International Monetary Fund, which, in its statement last February, praised “ Efforts made by the Central Bank of Iraq aimed at getting rid of excess liquidity!
While the currency printed until February 2024 is the lowest in 8 months, there is a “historical” record corresponding to it, as the data reviewed by Al-Sumaria News show that until January 2024, the currency in banks amounted to 9.1 trillion dinars, and this number is the highest ever in history. Banks after they ranged between 6, 7 and 8 trillion over the past months and years.
The expected effects of this trend are not known, but specialists believe that the data will continue in one direction, which is to reduce printed cash and liquidity, and the banks’ attempt to hold on to liquidity and not leave it in the hands of citizens, and all of these indicators will ultimately lead to reducing inflation in general and reducing the “enormous” purchasing power among groups. Great Iraqi.
