Romanowski Comments On The Visit Of The US Assistant Secretary Of State To Iraq
Iraq Wednesday, May 15, 2024 Baghdad/National News Center Today, Wednesday, the US Ambassador to Iraq, Alina Romanowski, welcomed the Assistant Secretary of State for the Office of Energy Resources, Jeffrey Pyatt, to Iraq.
Romanowski said in a tweet, “The important visit began to follow up on the successful visit of the Sudanese Prime Minister to Washington last month, and to strengthen our bilateral cooperation in the field of energy.” She concluded, “Together we can help Iraqis prosper by providing electricity 24 hours a day, 7 days a week.” https://nnciraq.com/255761/
I think they're at the stage where they just got to jump and do it. They have to interlink with the region and...the world so it's going to be a timed event. I don't have the time, the date for that but I think we're going to see it shortly...
There is an existence of the Chapter VII charter of the United Nations that has not yet been resolved. It's... still restricting the sovereignty at the international level. The pressure is on and it looks like the UN is waving that flag to Iraq reminding them that there is that component still.
Iraq is going to be watching and waiting for their purchasing power...They have revenue streams from all different angles...You got natural resources galore - oil, liquid natural gas, tourism... agriculture...Are they going to be able to support a value of there currency? Of course they are. They were $3.22 back when oil was at $35
. What if you added on to that all those things I just mentioned?
Article: "Floating the dinar returns to the forefront will the Central Bank of Iraq resort to it and what the risks?" The bottom line is Iraq is going to make an exchange rate change. They've told you about it...A managed float is a mix of a fixed and a float... Are they going to change it to a free float? Probably not because there's a lot of risks at that stage...Ultimately what is their goal? Raising the value of the dinar against the dollar. That's what they're going to be trying to do..
We all know the project to delete the zeros has been on the table now for many years but it was taken off the table, back on the table...The delete the zeros is all about what? Creating value.
1310 to buy widgets is in the hundreds of trillions and their budget is in the hundreds of trillions. They don't even have that much money printed. They don't even have it on their M1 etc at this point in time. They never have. There's got to be an adjustment...
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Article: "Iraqi Council of Ministers approves the 2024 budget schedules"
The next step would be to take those schedules and deliver them to the House of Representatives. If we see that, that's going to be powerful because everybody's gonna be biting their nails because it could very well suggest something could happen prior to that happening. It's a nail biter...
Article: "Specialist: Floating the dinar is economic suicide"
Them bringing up exchange regimes obviously...they're going to do something because why talk about it if it's not going to change. You don't.
Non-oil revenues...Iraq has the largest sulfur deposit in the world. They can tap into that. It's going to be part of their non-oil revenues. The amount of natural resources Iraq has is off the charts. Anything that suggests they can't afford to do what they're going to do and go to a market economy I think is highly mistaken.
Securities: We Are Studying The Possibility Of Licensing Brokerage Companies To Trade In Shares On International Stock Exchanges
Market Economy News – Baghdad Chairman of the Securities Commission, Faisal Al-Haims, confirmed today, Wednesday, that the authority is studying the possibility of licensing brokerage companies to trade in shares on international stock exchanges
Al-Haims said in a statement received by Al-Iqtisad News, “The Authority has begun studying the licensing of brokerage companies to trade in shares on global stock exchanges through a technical committee within it.”
He added, "The Authority is working seriously to support and develop the stock market by studying the licensing of brokerage companies to enable them to trade in shares on international stock exchanges for the first time in Iraq.
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He explained, "This step comes in the context of protecting the rights of citizens to trade through brokerage companies that practice this activity without an official license from the Securities Commission, which seeks to develop the financial markets in the country," noting that "the Commission is working to provide a stimulating and regulated investment environment." “It contributes to enhancing confidence among investors and raising Iraq’s position in global financial markets.”
Article Quote: "The Central Bank of Iraq's cancellation of the currency {auction} window at the end of 2024"
WE KNOW THIS ... SUDANI & ALAQ HAVE ALREADY AGREED WITH DC ON THIS! IT IS TRUE... THEY (ARE) AND WILL BE ASSET BACKED...WILL FLOAT AND THERE WILL BE A MANAGED CAP...
Article: "Next week.. UNAMI presents its periodic briefing"
Quote: “The mission will submit its periodic briefing to the Security Council next week, without mentioning further details regarding that briefing. Yesterday, the Iraqi government submitted a request to the Security Council and the Secretary-General of the United Nations, to reduce The mandate of the United Nations Mission (UNAMI), and to conduct an objective evaluation of its work, in preparation for ending its mission and closing it permanently."
Al-Sudani Told An American Official: The Government Is Proceeding With Economic And Financial Reform
Political | 02:24 - 05/15/2024 Mawazine News – Baghdad Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Wednesday, that the government’s efforts and steps in the field of economic and financial reform, especially in the areas of tax, customs, and the banking sector, and completing the elements of an ideal investment environment
Al-Sudani’s media office stated in a statement received by Mawazine News that “Al-Sudani received US Assistant Secretary of State for Energy Resources Affairs Jeffrey Payette, in the presence of the US Ambassador to Iraq,” noting that “the meeting reviewed the most prominent files of cooperation in the field of energy, in all its forms, and ways to develop it.” “In a way that contributes to achieving common interests.”
The Prime Minister stressed “the government’s keenness to implement its executive approach within the axis of achieving energy self-sufficiency, in the areas of exploiting locally produced natural and associated gas, generating electricity, providing petroleum derivatives, and producing chemical fertilizers and petrochemical materials,” referring to the memorandums of understanding that were signed during his visit to The United States of America last April, which is being implemented on the ground.”
Al-Sudani pointed to "the government's efforts and steps in the field of economic and financial reform, especially in the areas of tax, customs, and the banking sector, and completing the elements of the ideal investment environment, calling on American companies to work and invest in Iraq."
For his part, Payet praised the efforts of the Iraqi government in developing the energy sector, noting that “the joint statement by Prime Minister Muhammad Shia al-Sudani and US President Joseph Biden represented a road map and a framework for fruitful work and cooperation.” He stressed “the desire of American companies to invest and expand their activities within Iraq".
Iraq has requested that a United Nations assistance mission (UNAMI) set up after the 2003 U.S.- led invasion of the country end its work by the end of 2025, saying it was no longer needed because Iraq had made significant progress towards stability.
Could it be that the rich and powerful are going to let Iraq finally be a true sovereign country and not just on paper?
Are they letting go of the apron strings...
It is just yet another sign to us that the freedom for Iraq is finally coming to reality. Another stop in the journey down the choo choo tracks and the final stop we all await – the reinstatement.
...Iraq is always much farther ahead than it seems in these articles, as they can read a bit gloomy at times like there is a ton more of work to be done. But in reality, they are much, much closer to accomplishing most of the goals to the Pillars of Financial Reform as we realize as needed to progress forward into the international arena and play ball with the big guys… Folks, it is coming...we can’t stop it now. It is just a matter of time.
Al-Sudani briefs Washington on economic and financial reform efforts, invites U.S. companies to invest in Iraq
Shafaq News / Prime Minister Mohammed Shia Al-Sudani received, on Wednesday, U.S. Assistant Secretary of State for Energy Resources, Geoffrey Pyatt, in the presence of the U.S. Ambassador to Iraq.
They reviewed key areas of cooperation in the energy sector in all its forms and ways to develop it to achieve mutual interests, as stated by the PM’s media office.
During the meeting, Prime Minister Al-Sudani emphasized the government's “commitment to implementing its program, focusing on achieving energy self-sufficiency. This includes the utilization of domestically produced natural and associated gas, electricity generation, the provision of petroleum derivatives, and the production of chemical fertilizers and petrochemical materials.” He highlighted the memorandums of understanding signed during his visit to the United States in April, which are currently being implemented.
Prime Minister Al-Sudani highlighted the government's efforts and steps in economic and financial reform, particularly in the areas of taxation, customs, the banking sector, and completing elements of an ideal investment environment. He invited American companies to operate and invest in Iraq, as per the media office’s statement.
Pyatt commended the Iraqi government's efforts in developing the energy sector and highlighted the joint statement by Prime Minister Al-Sudani and U.S. President Joseph Biden, which serves as a roadmap and framework for fruitful cooperation. He emphasized the interest of American companies in investing and expanding their activities in Iraq.
🇮🇶The Iraqi Cabinet is set to deliberate and APPROVE the budget law for this year in its upcoming session tomorrow TUESDAY. Mazhar Mohammed Saleh, Financial Advisor to the Prime Minister's office.
Saleh indicated that the budget would be promptly forwarded to Parliament. However, "the deficit percentage in the budget is yet to be finalized."🤥🙄
The Sudanese adviser explained that "the percentage of deficit in the budget schedules is unknown, and will be determined according to the schedules that will be approved by the Council of Ministers, before sending them to the House of Representatives."
According to Law No. 13 of 2023, lists and schedules of the Tripartite General Budget Law should be submitted to the House of Representatives.
PM Al-Sudani, Central Bank of Iraq Governor & President Barzani already HAVE the NEW DINAR RATE & are keeping the NEW RATE tight lipped & waiting until last minute (imo).
Including A Capital Increase Of 400 Billion Dinars... A Number Of Files On The Table Of The Bank Of Baghdad Authority
Economy News – Baghdad The General Authority of the Bank of Baghdad intends to hold a meeting on May 18 to discuss a number of files, including increasing the capital to 400 billion dinars.
The bank’s media stated in a statement, received by “Al-Iqtisad News”, that “the general authority of the bank will hold a meeting on next May 18 to discuss and approve the annual financial statements for the year 2023, distribute profits, and increase the paid-up capital from 300.0 billion Iraqi dinars to 400.0 billion Iraqi dinars in accordance with the provisions of Article 55/second, at a rate of 33.3%, and an agreement with the Jordan Kuwait Bank, in addition to stopping trading in the bank’s shares as of May 14.”
He added, "Net profits grew by 44% on a quarterly basis in the first quarter of 2024, driven by a decrease in provisions for credit losses and an increase in commissions and foreign currency revenues; an increase in net profit on an annual basis by 203%."
He pointed out, "The Bank of Baghdad showed significant growth in net profits after tax in the first quarter of 2024, which rose by 44% on a quarterly basis and 203% on an annual basis, reaching 76.1 billion Iraqi dinars ($58.1 million)."
He stated, “Net commission income increased by 12% on a quarterly basis (+241% on an annual basis) to reach 58.0 billion Iraqi dinars ($44.2 million) in the first quarter of 2024, mainly due to the increase in bank transfer commissions.” and lower commission expenses.
He pointed out, "The bank recorded a net growth in income from foreign currencies of 29% on a quarterly basis (+141% on an annual basis) in the first quarter of 2024, reaching 27.6 billion Iraqi dinars ($21.0 million)," indicating Provisions for expected credit losses decreased from 16.1 billion Iraqi dinars ($12.2 million) in the fourth quarter of 2023 to 2.2 billion Iraqi dinars ($1.7 million) in the first quarter of 2024 due to a decrease in provisions for expected credit losses on cash held by central banks. And provisions for expected credit losses on balances with banks and financial institutions.”
The statement continued: “A 4% decrease on a quarterly basis in total assets in the first quarter of 2024, driven by a decrease in customer deposits, offset by growth in equity; strong growth in financial assets; growth of total outstanding assets on an annual basis by 45%.” In addition to "a decrease in the total assets of the Bank of Baghdad by 4% on a quarterly basis (+45% on an annual basis) to 2.6 trillion Iraqi dinars ($2.0 billion) at the end of the third month of 2024."
He stressed that “the bank is the second largest bank listed on the Iraqi Stock Exchange based on its assets and deposits,” noting that “customer deposits decreased by 9% on a quarterly basis (+48% on an annual basis) to reach 2.0 trillion Iraqi dinars ( $1.5 billion) driven by a decrease in corporate current and call accounts, partially offset by an increase in corporate term deposits.”
He noted that “ownership rights grew by 16% on a quarterly basis (+54% on an annual basis) to reach 548.4 billion Iraqi dinars ($361.6 million) at the end of the third month of 2024 due to recording net profits amounting to 76.1 billion Iraqi dinars ($58.1 million). million dollars) in the first quarter of 2024.
The statement added: “The Bank of Baghdad records the highest annual return on average assets and the return on average equity in the first three months of 2024 among the banks listed on the Iraq Stock Exchange,” stressing that “The Bank of Baghdad almost doubled the percentage of annual return on average assets from 5.7.” % in the first three months of 2023 to 11.3% in the first three months of 2024.
He stated, "The bank doubled the annual return on the average equity ratio from 28.4% in the first three months of 2023 to 59.5% in the first three months of 2024." 115 views 05/14/2024 - https://economy-news.net/content.php?id=43404
Bond and Zim Holders will be contacted according to your Zip Code.
Redemption Centers operate round-the-clock, prioritizing exchanges based on the gold-backed value of currencies like Zim, Dinar, Dong, and the Dollar. Not all bonds are welcome; only those under a Special Keep Receipt (SKR) for over five years are eligible. Judy Note: It is my opinion that this note about SKRs was not referring to the Zim Bond.
The process of bond payments is predicted to span across three years, marking a gradual transition. It’s a game of value and volume. Those with container loads of bonds will be in the fast lane, while someone with a mere three pallets might face a longer wait. Bond payouts can stretch up to 25 years. They are of great value since they’re gold-backed.
The American continent enjoys a unique advantage.
The rate of foreign currencies, especially Zim, fluctuates. There’s chatter about a hefty 80% humanitarian project deduction from Zim Bonds.
Entering a Redemption Center isn’t a straightforward process, especially if one’s past is tainted with felonies. A felony, typically punishable with a year’s imprisonment, isn’t an automatic disqualification. Yet, the intricacies of Redemption require felons to entrust their representation to an attorney. This legal mediator serves as the bridge between their tainted past and the promise of a new financial future.
Indiscriminate investments or donations can lead to the confiscation of funds.At Redemption Centers, individuals are provided a comprehensive 55-page guide listing entities that are permissible for investments and those that are off-limits. This is about ethical choices. Funding endeavors that perpetrate ‘Crimes Against Humanity‘, be it human trafficking, drug trade, or gun-running, can lead to dire consequences.
Redemption Centers are equipped with technology that claims to gauge the purity of one’s heart. As outlandish as it sounds, this ‘heart scan’ is the first checkpoint. Those harboring criminal intentions or malice are identified. Their ill-gotten gains aren’t just confiscated but redirected to Humanitarian Projects, ensuring that the wealth benefits the greater good.
It looks like Iraq will be announcing the new non corrupt speaker and finally activating the budget in parliament. We will do a breaking news story if/when that happens this weekend.
Meanwhile, the elites are getting ready to do one boom event after another. Good thing we’re prepared!
@JonDowling
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Jon Dowling: Tax cuts, aka income tax removal and debt relief, aka debt forgiveness. Sounds like Gesara and Nesara to me! BRICS getting stronger by the day! Iraq is now in the WTO, they just need to make the official announcement.✅
Some very positive news out of China and England re Bond Holders today but as yet I am unable to confirm,
but with all the reporting about gold backed currencies world wide we are still moving in the right direction.
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Texas Snake, [05/14/2024, 12:23:46 a. m.]
Well folks I have never considered myself a Guru nor am I one, I have a number of professional individuals who happen to be involved with the currency revaluation and they have been kind enough to include me in their information.
The latest they are being provided is there are now two dates which will trigger our anticipated RV.
The first is before this month ends and the second is very early into the next month of June.
I will be informed as to which date as the bank personal trained to exchange are also the ones scheduling our appointments so the date will be designated when appointment capabilities become available to us.
While limited to exact details I am comfortable with and hopefully you can appreciate just how close we are. GOD Bless
It is she is planting flowers everywhere
Yes WF is a major participant
Well folks as soon as any additional info becomes availabe to me I will advise thanks for your participation comments and GOD Bless
Prudential treatment of cryptoasset exposures | BIS
“The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, met on 13 May 2024.”
During this meeting, they set up a new Basel 3 standard timeline for crypto asset implementation.
The new timeline was moved from January 1st, 2025 to January 1st, 2026. It is expected that 2/3s of our crypto assets will be done by the end of this year.
The committee wanted to reiterate that the expectation is for these crypto assets to be implemented into Basel 3 “as soon as possible.”
It is important to know that the bank’s exposure to tokenized traditional assets, stablecoins, and unbacked cryptoassets is still set for January 1st, 2025.
It is the crypto assets standards that will continue on until January 1st, 2026. BIS
