Tuesday, June 11, 2024
“High-level” Iraqi-American-British-Spanish meetings in Amman,, 12 JUNE
“High-level” Iraqi-American-British-Spanish meetings in Amman
Shafaq News/ Prime Minister Muhammad Shiaa Al-Sudani stressed, on Tuesday, the need for an American position on the “aggression” of the Netanyahu government against the Palestinian people in the Gaza Strip.
This came during his meeting with US Secretary of State Anthony Blinken, on the sidelines of his participation in the Emergency Humanitarian Response Conference in Gaza, hosted by the Hashemite Kingdom of Jordan.
The meeting witnessed a review of bilateral relations and the results of Sudan’s recent visit to the United States, the overall situation in the region and the repercussions of the ongoing aggression against Gaza. His Excellency renewed Iraq’s support for any initiative aimed at a ceasefire and accelerating the opening of the door for the entry of aid to the afflicted Palestinian people in Gaza.
Al-Sudani pointed out the need for a clear American position on the aggression of the Netanyahu government, indicating the weakness of the international position in general regarding the response to the ongoing tragedy with the continuation of the aggression, as the numbers of victims and the extent of the destruction occurring cannot be ignored, with the continued aggressive threats against Lebanon, which threatens the expansion of the conflict in the region.
The Prime Minister also explained the dangers of the continuation of the aggression in Gaza and the threat it poses to regional and international stability, and that it will lead to extremist activity in the region being taken as a new pretext. The international community must also bear its responsibilities in the face of the scene of genocide committed by the occupation authorities, which led to The displacement of 80% of the Gaza Strip’s population, who were left without shelter or medical, humanitarian and service resources, and in the worst disastrous conditions imaginable.
For his part, Blinken expressed the US administration’s appreciation for Iraq’s steps in support of permanent stability in the region and the provision of aid that alleviates the difficult humanitarian conditions in the Gaza Strip, stressing the importance of working to achieve a ceasefire. He also conveyed to the Sudanese President Joe Biden’s appreciation for the support given by Iraq and its role. In regional and international peace efforts.
Al-Sudani also received British Minister of State for Foreign Affairs Tariq Ahmed, on the sidelines of his participation in the Emergency Humanitarian Response Conference in Gaza, hosted by the Hashemite Kingdom of Jordan.
During the meeting, bilateral relations between Iraq and Britain were reviewed, developments in the situation in the region, the repercussions of the ongoing aggression against Gaza and the tragic humanitarian situation caused by the genocidal war against the Palestinian people, and the aggression’s obstruction of relief efforts and the introduction of humanitarian aid.
The Prime Minister renewed Iraq’s firm and principled position on the Palestinian right, and its readiness to provide urgent humanitarian aid, stressing the need for the major powers and international organizations to carry out their humanitarian and moral role in stopping the aggression and preventing the ongoing catastrophe in Gaza, where most of its residents have become homeless and lack the minimum number of shelters. Humanitarian requirements.
For his part, the British Minister praised Iraq’s efforts to support understandings and stability efforts in the region, and the Iraqi government’s approach to establishing balanced relations, stressing that it is necessary to hear Iraq’s voice in what is being done for peace, and in shaping the future of the region, expressing his support for the efforts aimed at Organizing the delivery of aid to Gaza.
In this context, Al-Sudani also met today with Spanish Prime Minister Pedro Sanchez, on the sidelines of his participation in the Emergency Humanitarian Response Conference in Gaza.
During the meeting, bilateral relations between the two countries and prospects for their development in various fields were discussed.
Al-Sudani confirmed that he responded to the invitation extended to him by Sanchez to visit Spain during this year, stressing that Sanchez’s previous visit to Baghdad paved the way for the development of relations between the two countries. He also indicated that he directed the ministries to contract with reputable Spanish companies to contribute to the reconstruction of Iraq, and that the bilateral committees are an opportunity to consolidate the relationship and increase cooperation. And understanding between the two countries.
He renewed the gratitude of Iraq, the government and people, to the Kingdom of Spain after its recognition of the State of Palestine, which is a historical position that is consistent with the aspirations of the Palestinian people towards freedom and the establishment of their independent state.
For his part, Sanchez stressed that Spain’s relations with Iraq witnessed unprecedented development during this period, expressing his thanks for the Iraqi government’s confidence in Spanish companies. He also praised the Prime Minister’s support for the meetings of the bilateral committee between the two countries, stressing that his country’s support for Palestine comes from a motive Humanitarian and in support of legitimacy, stability and security.
"RV UPDATE" BY MARKZ, 12 JUNE
MARKZ
[via PDK] I do have some reports of a few groups that were requested to update NDA’s this weekend. There were multiple reports…which is interesting. A couple of these sources I know personally so believe it is spot on. This is from “Grouped currencies” Not individuals like you and I. With updating their NDA’s – the leaders are expecting something very soon.
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- Mon. 10 June 2024 MarkZ: “Many of my Bond people are expecting payment Tues or Wed. 11,12 June. Most sources say we will go within three days of when the Bonds go.”
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- IRAQ NEWS ANALYSIS BY MARKZ
“The United Nations development program has issued a 49 page report on investment opportunities in line with Iraq’s sustainable goals” These are things to develop a very robust Iraq economy.
“The UN sees progress in Iraq’s anti corruption efforts and lists recommendations..” The UN seems pretty happy with all the efforts you have made Iraq …here’s you “atta boy”...This is actually important to see all the sanctions going away and Iraq being free and clear to change values on the world stage.
... Sudani signed a cooperation agreement with the trade bank of Iraq and the German export credit corporation. If everybody thought nothing was going to happen in Iraq -then they would not be signing these extremely high level deals. You are watching them become a major player on the international stage.
I found this one encouraging. One of the things they are going to need to be taken seriously on the world stage is the value of their currency. Vietnam is also running into that problem right now. They need to revalue up.
...there is contention as to whether the president has signed it [the budget] yet or not...And attempts by Maliki to delay things. Don’t panic- they are not allowing a delay and will push forward with the printing of the budget…and execution. Maybe we will see the printed budget by Saturday now...I’m still hearing positive things for the 7th through the 9th.
https://dinarevaluation.blogspot.com/2024/06/rv-update-by-markz-7-june.html
After OPEC's Decision To Reduce Cuts... Iraq Increases Its Production By 40 Thousand Barrels Per Day, 12 JUNE
After OPEC's Decision To Reduce Cuts... Iraq Increases Its Production By 40 Thousand Barrels Per Day
Energy Economy News _ Baghdad Iraq increased its production by 40,000 barrels per day during the month of May, after OPEC’s decision to reduce cuts, according to a survey conducted by S&P Global Commodity Insights on June 10.
The nine OPEC members subject to quotas boosted crude oil production by 100,000 bpd in May, led by Nigeria and Iraq, pushing the group 320,000 bpd above their collective targets, while the bloc's allies led by Russia cut production.
Iraq increased its production by 40,000 barrels per day to reach 4.28 million barrels per day, which is 280,000 barrels per day more than its current target, despite its agreement in May to compensate for the surplus production. The Platts survey estimates current oil production in the Kurdistan Region of Iraq at 210,000 barrels per day.
Iraq's production reached 4.28 million barrels per day, up from the previous month, which reached 4.24 million barrels per day. Views 36 06/11/2024 - https://economy-news.net/content.php?id=44222
"RV UPDATE" BY SANDY INGRAM, 11 JUNE
Sandy Ingram
The Central Bank of Iraq denied issuing a new currency denomination. The decision highlights the bank's confidence in the strength and stability of the Iraqi dinar, Even as other economies toy with the idea of introducing new denominations..
No one in the Middle East wants big daddy America to make Iraq wealthy. Oh, wait, Iraq is already wealthy. It's just a matter of maximizing, investing and building the infrastructure for long-term wealth...It's only a matter of time before Iraq opens the gates to massive success.
Last week marked a sensational milestone for the central bank of Iraq. In a stunning financial twist, foreign remittance sales skyrocketed by a whopping 90%, surpassing cash sales by over $252 million...The majority of these sales...were strategically utilized to bolster balances abroad through remittances and credits. By regulating the flow of foreign currency the central bank instills robust confidence managing Iraq's balance of payments.
A [Community member] wrote and then deleted the following comment in response to...the results of the emergency budget meeting, 'The rate is still 1310 for the next budget year. At least now everyone can shut down...until next year. ' Sandy Ingram: No that is not true. Things are happening in the Middle East, and they are happening fast.
Several members of the UN Security Council including Russia and china...backed Baghdad's request for the world body's political mission in Iraq to shut down by next year. Washington did not immediately offer its support.
It is hard to believe Iraq did not have certain banking capabilities until now...We understand why my ex-husband a retired banker with the Federal Reserve Bank and his peers believed the dinar would not revalue. It appears until Iraq updated its banking system the country could not participate in the global financial platforms...----The bankers in the US never explained the reasons for their negative attitude towards the Iraqi dinar.
The IQD was not convertible to other currencies on global markets before the 2003 invasion...Rates, which were $3.21 IQD to 1 US dollar in July 2003 means little if the currency is not exchangeable on global markets...----People with education in economics say the Iraqi currency will be readily available for exchange in US banks...The question then becomes -
How long will it take US banks to recognize the currency after the initial increase in Iraq? Oh, you believe it will all happen on the same day?
We would hope so, however this is unlikely... Savvy investors may have to travel for the exchange rate...If Iraq says the IQD is worth 1 USD to Iraqi dinar will you wait for the United States to say the same thing or will you travel to a bank that says the Iraqi dinar value equals $1? ... We hope the naysayer are right and we can all walk into our banks in the United States and exchange our IQD bank notes for US dollars
https://dinarevaluation.blogspot.com/2024/05/rv-update-by-sandy-ingram-13-may.html
The World Bank is working with the Iraqi Finance Minister to implement banking reform as quickly as possible...things are happening fast.
Shocking documents from Iraq's Federal Board of Supreme Audit have uncovered a massive corruption scheme. Over 151,000 citizens were involved in the illicit buying of US currency...[They] obtained dollars at the official state rate for travel purposes but never left the country. The black market refers to them as "ghost travelers".
[We] are thinking the Iraqis sold the dollars for more money than they invested. As a result of the corruption Iraq's Central Bank employees, private banks, currency exchange companies and tourism firms were all involved. This is a $600 million corruption scam involving the US dollar...
When in Washington, DC he [Al-Sudani] met with the chair of the governing board of the JP Morgan Development Finance Institution (DFI), Daniel Zelikow. Prime Minister Al-Sudani received Mr. Jamie Dimon, the CEO of JPMorgan Chase, and his accompanying delegation on Wednesday during his visit...In Davos, Iraqi Prim Minister al-Sudani with Mr. Khaled Haballah, the regional CEO of JPMorgan Chase for the Middle East and North Africa...
Al-Sudani met with the Iraqi community in Washington DC and other American states on the sidelines of his official visit to the United States. Al-Sudani conveyed gratitude to the Iraqi communities in the US and throughout the world, emphasizing that Iraq is for all Iraqis and that the country needs the knowledge, experiences, opportunities and initiatives of Iraqis in the U.S.
The prime minister indicated the Iraqi government is working on establishing a department for expatriate affairs to be able to communicate effectively with the Iraqi community around the world...
On April 15th President Joe Biden will hold Prime Minister Al-Sudani of Iraq at the White House. This meeting is a crucial opportunity for the United States and Iraq to discuss common priorities and strengthen their bilateral partnership.
https://dinarevaluation.blogspot.com/2024/04/rv-update-by-sandy-ingram-17-april.html
Al-Sudani met with the Iraqi community in Washington DC and other American states on the sidelines of his official visit to the United States. Al-Sudani conveyed gratitude to the Iraqi communities in the US and throughout the world, emphasizing that Iraq is for all Iraqis and that the country needs the knowledge, experiences, opportunities and initiatives of Iraqis in the U.S.
The prime minister indicated the Iraqi government is working on establishing a department for expatriate affairs to be able to communicate effectively with the Iraqi community around the world...
On April 15th President Joe Biden will hold Prime Minister Al-Sudani of Iraq at the White House. This meeting is a crucial opportunity for the United States and Iraq to discuss common priorities and strengthen their bilateral partnership.
https://dinarevaluation.blogspot.com/2024/04/rv-update-by-sandy-ingram-17-april.html
Al-Muttalabi: The 2024 Budget Was Fair To The Ministries At The Expense Of The Provinces , 11 JUNE
Al-Muttalabi: The 2024 Budget Was Fair To The Ministries At The Expense Of The Provinces
Policy Information / Baghdad... The former member of the Baghdad Provincial Council, Saad Al-Muttalabi, confirmed on Tuesday that there was an imbalance in directing budgets towards ministries instead of directing them towards local governments as they are concerned with service projects in their areas.
Follow the “Al-Ma’louma” channel on Telegram.. News that does not require documentation..
Al-Muttalabi told Al-Maalouma Agency, “The ministries’ projects differ from the governorate’s projects, which is considered a local administrative unit that has its direct needs from the municipal directorates spread throughout the regions.”
He added, "Each municipality affiliated with the governorate has its own projects, needs, and plan, and they are presented to the advisory and engineering body in the governorate to be studied and drawn up. Its plan is sent to the Ministries of Planning and Finance, where the sent plan includes realistic solutions for the area in question, while the ministry does not look at such matters, but rather works." According to a federal strategic plan.
He stated, "It is a mistake for the budget to be directed to the ministries and the governorates and their projects and service plans are ignored. In addition, it is considered a constitutional flaw, as the projects must be primarily local, with the exception of security." LINK
"RV UPDATE" BY KAPERONI, 11 JUNE
Kaperoni
...New currencies coming out in Iraq. Not true, the Iraqi dinar is the currency of Iraq. As far as any new smaller denominations, they will be introduced only as needed if and when the value increases and warrants so. There is no significant RV!
--...The dinar to float at well over a dollar. Unlikely, the dinar when it floats will be whatever the current exchange rate is and could rise gradually accordingly.
Community comment: "Today the cbi says there are no new printing of bills"
That is correct. The Central Bank does not randomly print currency unless it's to replace damaged or worn out notes. There is no need for a new currency unless it is warranted. Moving to digital will eventually reduce physical notes.
Question: ----"They have a very largebudget ,without an increase in rate how do they meet the projects that is lined up?"
External expenses are paid in dollars since their primary revenue is dollars. Dinar is used to pay salaries, etc. in country.
CCommunity Comment: "Hopefully in the next 5 yrs we will see an appreciation of the currency price, based on the last year of progress." I agree! Iraq has an excellent opportunity now to diversify their economy and develop the banking system.
Much of the float articles that we have seen have concerns about speculators that is because they are referencing dealers speculating within the country. That will not happen.
After Returning It For The Purpose Of Auditing...The Iraqi Facts Address Parliament To Send The Budget Schedules, 11 JUNE
After Returning It For The Purpose Of Auditing...The Iraqi Facts Address Parliament To Send The Budget Schedules
Shafaq News/ Ministry of Justice spokesman, Ahmed Laibi, said on Tuesday that the Iraqi Facts Department addressed the House of Representatives with an official letter in order to send the schedules of the Federal Financial Budget Law for the year 2024 in order to publish them in the Official Gazette.
Laibi explained in a statement to Shafaq News Agency, that there are communications between the Facts Department and the House of Representatives to complete the procedures and publish the budget tables in the Iraqi Facts newspaper.
For his part, a parliamentary source told the agency that this measure comes after the Real Estate Department returned the budget law schedules to the House of Representatives for the purpose of scrutinizing some articles and paragraphs of the law, but the House was late in sending them again.
The source added that the Council must return the budget law schedules before the end of this week and the Eid al-Adha holiday to avoid further delays.
At the beginning of last May, the Iraqi Council of Representatives voted on the budget schedules for the current year, 2024.
The budget included securing scholarships for university and school students, and increasing employee allocations by 4 trillion to secure the salaries of employees, new appointees, and retirees, and implementing the terms of contracts, appointments, and those whose contracts were terminated.
It also included allocating an amount of one trillion and 250 billion dinars to secure the increase in retirees' salaries, and allocations for disbursing end-of-service rewards to civilian and military retirees.
As well as increasing social welfare allocations to include more than 650,000 new families, increasing the capital of the Real Estate Bank by 500 billion dinars to cover citizens’ lending requests for housing, and allocating an amount of 5 trillion dinars to secure farmers’ entitlements to purchase wheat and barley crops.
At the beginning of this June, a member of the Parliamentary Finance Committee, Jamal Cougar, revealed an important step towards approving Iraq’s budget for the current year.
Koçer told Shafaq News Agency at the time that the House of Representatives voted on the budget law schedules and sent them in an official letter to the Ministry of Justice for the purpose of publishing them in the Iraqi newspaper Al-Waqe’i.
He stated that the budget schedules do not need to be approved by the Presidency of the Republic, given that Parliament voted last year on the three-year budget law.
He added that after publishing the budget tables in the Official Gazette, the Ministry of Finance and the Ministry of Planning will disburse operational and investment expenses, allocations and financial dues to ministries, institutions, bodies and government agencies, in addition to disbursing the governorates’ dues as specified in the budget tables. LINK
"RV UPDATE" BY ARIEL, 11 JUNE
💢 Ariel on X ✅⬇️
🇮🇶 Al-Sudani stated officially that "this year" Iraq will witness a tangible significant change for the Iraqi citizens.
Guess what?
This cannot be accomplished without releasing the new exchange rate.
This cannot be achieved without financing reconstruction projects.
This can not be attained without purchasing power for the national currency.
Iraq was just removed from the list of high-risk countries by the FATF.
Which means they have reached Security & Stability.
Period.
1:01 PM · Jun 10, 2024
https://x.com/Prolotario1/status/1800211742531764459?t=9XiwZXDxGYbk4UwkfcAHKw&s=19
Parliamentarian: The Basra-Aqaba Oil Pipeline Does Not Achieve Economic Feasibility For Iraq , 11 June
Parliamentarian: The Basra-Aqaba Oil Pipeline Does Not Achieve Economic Feasibility For Iraq
Economy Information/Baghdad.. On Tuesday, the representative of Basra Governorate, Rafiq Al-Salhi, considered the agreement to extend the oil pipeline from Basra to the Jordanian port of Aqaba as a failed project that does not achieve any economic benefit for Iraq, and the only beneficiary from it is the Jordanian side.
Al-Salhi said in a statement to the Al-Ma’louma Agency, “The project to extend an oil pipeline from Basra to Aqaba is a failed project and will cost the country large sums of money because it has no economic benefit for Iraq and the only beneficiary is the Jordanian side.”
He added, "The shipping and pumping costs operations will drain large amounts of money and costs compared to exporting it from the ports of Basra, as the cost of exporting one barrel from the ports of Basra is estimated at 6 cents, while the cost of a barrel from the port of Aqaba exceeds four dollars. This is a waste of money, in addition to its security risks related to protecting... Pipeline from terrorism or international targeting.”
Al-Salhi pointed out that "the project faces widespread criticism from oil specialists, so we categorically refuse to initiate the project now or in the future."
It is noteworthy that the Basra-Aqaba oil pipeline project is a proposed project to transport crude oil from the Rumaila field, in southern Iraq, to Aqaba, in southern Jordan. Its length is 1,700 km. LINK
Coffee with MarkZ. 06/11/2024
"ABOUT THE BRICS" BY GOLDILOCKS, 11 JUNE
GOLDILOCKS
BRICS calls for enhanced use of local currencies in trade between member countries
More signals…
Russia says BRICS is prioritizing a platform for member states to transact in national currencies.
It is only a matter of time.
Read: https://x.com/goldtelegraph_/status/1800362482869125210?s=46\ ---
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The BRICS ministers of Foreign Affairs met in Russia’s Nizhny Novgorod on June 10 and held a plethora of discussions, including an important one on the enhanced use of local currencies in trade and financial transactions between the BRICS countries.
https://www.thehindu.com/news/national/brics-calls-for-enhanced-use-of-local-currencies-in-trade-between-member-countries/article68275867.ece
"RV UPDATE" BY PIMPY, 26 JUNE
Pimpy Article: " Expert likely to keep exchange rates within their current rates " It's not going to happen that qu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...
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RayRen98 BANK STAFF RECEIVED "GET READY" MEMOS THIS MORNING, THEY'VE BEEN EXCITED ALL DAY! Nader From The Mid East Y...