DINAR REVALUATION REPORT: Iraq's Trade Exchange Development Path in 2024: A Qualitative Shift in Global Trade, 31 AUGUST

 Iraq's Trade Exchange Development Path in 2024: A Qualitative Shift in Global Trade

In the realm of international trade, Iraq has embarked on a transformative path that aims to redefine its global economic relationships and strengthen its trade exchange mechanisms. As of August 30, 2024, the country's strategic moves are underpinned by a commitment to modernization, transparency, and enhanced cooperation with international partners. 1

Digital Customs: A Game-Changer for Trade

A pivotal step in Iraq's trade development has been the adoption of digital customs processes through the ASYCUDAWorld software, which has been rolled out since 2023 with support from the United Nations Conference on Trade and Development (UNCTAD). This advanced digital platform has streamlined customs clearance, reduced fraud, and facilitated smoother cross-border transactions. 1 The implementation of ASYCUDAWorld has been particularly significant at Baghdad International Airport, where customs revenue surged by over 215% between January and May 2024, compared to the same period in 2023. Import transactions at this airport also witnessed a 120% increase in the first quarter of 2024, compared to the same quarter of 2023, marking a decade-high.

Enhancing Economic Stability and Diversification

The digital customs initiative is one facet of a broader strategy to stabilize and diversify Iraq's economy. The country has long been reliant on oil, which accounts for nearly all of its state revenue.  4 Recognizing the volatility of oil markets, Iraq is taking steps to strengthen other sectors and enhance its export capacity, particularly in agriculture. Despite challenges, including political dynamics that hinder economic diversification and financial sector modernization, efforts are underway to boost the private sector and attract foreign direct investments. 2

Bilateral Cooperation and International Engagement

Iraq's trade development strategy also emphasizes enhanced bilateral cooperation with key partners. The Iraqi Parliament's Finance Committee has highlighted the importance of strengthening ties with countries like Germany, focusing on areas such as the energy sector and financial systems to achieve sustainable development. 6 Political and security stability in Iraq has made it a more attractive destination for investment, with major international companies entering the market as a testament to this improved climate.

Toward a Qualitative Shift

The development path Iraq is following is expected to achieve a qualitative shift in its trade exchange with the world. By shortening transaction times and providing enhanced security through digital customs, Iraq aims to streamline its trade processes and improve its global economic standing. 6 The participation of European countries, including Germany, in Iraq's development path is a positive sign that the country's efforts are garnering international support and recognition.

In summary, Iraq's embrace of digital customs, efforts to diversify its economy, and focus on international cooperation are setting the stage for a transformative period in its global trade relationships. As of August 30, 2024, the country is poised to achieve a significant qualitative shift in its trade exchange mechanisms, enhancing its role in the international economic landscape.

" NOW , THEY ARE GETTING IT DONE" BY MNT GOAT, 31 AUGUST

MNT GOAT 

There is an interesting article titled “PARLIAMENTARY FINANCE: THE PATH OF DEVELOPMENT WILL ACHIEVE A SHIFT IN THE COURSE OF TRADE EXCHANGE BETWEEN IRAQ AND THE WORLD”. 

I suggest you go take a peek at it. HERE IS THE LINK OF THE DINAR REVALUATION REPORT ABOUT THAT  ARTICLE: https://dinarevaluation.blogspot.com/2024/08/dinar-revaluation-report-iraqs-trade.html

https://dinarevaluation.blogspot.com/2024/08/parliamentary-finance-path-of.html

The Parliamentary Economic Committee member Yasser announced today, Thursday, the existence of a project to amend about 10 economic laws, explaining that the goal is to enhance trade, facilitate customs and tax procedures,

 support the public and private sectors, and develop a real map for economic reform. Remember the article from the WTO telling us this is the last issue they need resolve?

 In know, I know this news was from nearly 6 months ago, but now they are now getting it done. 

Yes, Speedy Gonzales they are not…. lol..lol..lol. 😊

"HOW DO YOU VALUE A COUNTRY? BY MILITIAMAN, 31 AUGUST

 Militia Man  

How do you value a country?  What's it based off of?  Their resources, right? 

 You got to do a collective analysis.  You have to value it.  There's been people as far back as 2003/2004 that worked on a feasibility study on the country of Iraq.  One of those people was in Central Coast California.  

I know that for a fact because I wrote a letter to the gentleman that wrote the feasibility study...We've been watching it ebb and flow ever since...I didn't get involved until about 2010...

The IMF...198 page document that showed $3.22, I went, wow, that's what they potentially could reinstate at?  I'm like wow.   Okay, now it's time for me to pay attention.  That's why I'm here.

The Development Road Project is going forward whether you like it or not. 

 Iraq is going International, they just haven't yet.  They're not on the Forex but are they going to be there?  I think they're going to be there...quite soon.

 Article:  "Al-Mashhadani announces the approval of the majority of deputies to his nomination for the post of Speaker of Parliament" 

 Now it is waiting for a vote. Let’s see how long that takes...

I do believe the optics of having all three presidents in place when they fully open the doors to the world with their real effective exchange rate, will or would be well accepted globally.  Investors would likely see it as security and stability.

FRANK26…..8-30-24…..THANK YOU

"SUDANI CALLS HIS PEOPLE BACK TO IRAQ." BY FRANK26, 30 AUGUST

 KTFA

FRANK26: "SUDANI CALLS HIS PEOPLE BACK TO IRAQ."..............F26

Al-Sudani confirms the government's pride in the sons of Iraq wherever they are in the countries of the world

8/28/2024

Prime Minister Mohammed Shia Al-Sudani stressed the government's pride in the sons of Iraq wherever they are in the countries of the world.

A statement by his media office stated that Al-Sudani met, today, Wednesday, at his residence in the capital Tunis, with a number of members of the Iraqi community, on the sidelines of his official visit to the Tunisian Republic. "

Al-Sudani stated, in a speech during the meeting, according to the statement, the government's pride in the sons of Iraq wherever they are in the countries of the world, and in what they possess of competencies, ties and experience, which can enhance the Iraqi economy and enrich Iraqi institutions in all sectors."

He pointed out the importance of enhancing the image of Iraq abroad, as well as the community's contribution to strengthening ties between Iraq and Tunisia, and facilitating the development of available opportunities for productive economic partnerships, which can support the economies of the two countries.

The Prime Minister also touched on the commonalities between the two countries, especially in public positions, and the convergence of views on fateful issues, and everything that enhances stability in the Arab and Islamic worlds. 

LINK

ANALYSIS OF IRAQ NEWS BY MNT GOAT, 30 AUGUST

 Mnt Goat  

 Article:  "GOVERNMENT ADVISOR EXPLAINS THE POSSIBILITY OF USING THE DINAR INSTEAD OF THE DOLLAR IN OIL SALES"  

This is a...VERY good article in that it talks about the risks associated with pegging the dinar to oil prices...Instead they plan to repeg to a “basket” of international currencies from the top developed nations.

 This much less risky and is much more stable. Besides this is the Dr. Shabibi and IMF plan for Iraq .  

Article Quote:  "Will it be a fixed exchange system supported by foreign reserves or will it be a flexible exchange system in which the (petrodinar) changes with the change in oil prices?"

   I luv this...it reinforces again they are NOT going to peg the dinar to the price of oil... Nonetheless this...tells us they know they must do something and do it soon!

NADER FROM MID EAST: lets have fun

DINAR REVALUATION REPORT: Prime Minister Al-Sudani's Focus on Security and Development in Iraq, 30 AUGUST

 Prime Minister Al-Sudani's Focus on Security and Development in Iraq

In a recent development, Prime Minister Mohammed Shia Al-Sudani affirmed that all parts of Iraq are enjoying security, and his government is concentrating on comprehensive development. 1 This announcement came during his residence in the capital Tunis, where he hosted a distinguished gathering of businessmen, investors, and representatives from Tunisian companies and the private sector. 2

Al-Sudani's Visit to Tunisia: A Boost for Business and Investment

Al-Sudani's visit to Tunisia was aimed at strengthening economic ties and encouraging business and investment cooperation. The discussions with President Qais Saeed and Tunisian business leaders focused on expanding bilateral cooperation, particularly in the tourism sector, while also addressing the ongoing conflict in Gaza. 2

Security and Cooperation: Managing Internal and External Pressures

Al-Sudani is navigating domestic and Iranian pressure to reduce the presence of U.S. troops and the Global Coalition to Defeat ISIS. In response, Iraq and the United States established the Higher Military Commission (HMC) in August 2023 to reassess the operational environment and capabilities of the Iraqi security forces. 1 The HMC's objective is to transition from the coalition's anti-ISIS mission to bilateral security relations between Iraq and the United States.

Economic Agenda and Development

Al-Sudani's government has been working on an ambitious economic and developmental agenda. 3 Despite challenges, including the need to pass a national oil and gas law and amend amnesty laws, the prime minister has maintained a pragmatic approach to governance. This has been met with a relatively supportive stance from key political actors, who hope to address their issues through Al-Sudani rather than challenge him directly. 3

Navigating Regional Crises

As tensions in the Middle East escalate, Al-Sudani's visit to Washington in mid-April 2024 was expected to focus on the U.S. troop presence in Iraq and efforts to prevent further attacks on them by Iran-backed Shia militia groups. 4 The Iraqi prime minister is keen to expand the relationship with the U.S. beyond security, aiming to boost U.S. investment in Iraq's economy and strengthen diplomatic ties. 5

Managing Regional Turmoil

Al-Sudani's visit to the U.S. came at a critical time, with heightened tensions in the Middle East due to the Gaza war spillover and the threat of Iranian retaliation for an attack on its consulate in Damascus. The U.S. has been urging Iraq and other regional partners to persuade Iran to exercise restraint following the killing of Iranian military officers in an April strike attributed to Israel. 6

"SUDANI TELLS THE WORLD IRAQ IS SECURE ESPECIALLY TO THOSE THAT ARE LYING ABOUT IRAQ!!!" BY FRANK26, 30 AUGUST

 KTFA

FRANK26:"SUDANI TELLS THE WORLD IRAQ IS SECURE ESPECIALLY TO THOSE THAT ARE LYING ABOUT IRAQ!!!"..........F26

Al-Sudani: All parts of Iraq enjoy security and the government is concerned with comprehensive development

8/28/2024

 

Prime Minister Mohammed Shia Al-Sudani received, at his residence in the capital Tunis, this evening, Wednesday, an elite group of businessmen, investors, and representatives of Tunisian companies and the private sector.

 

Al-Sudani expressed his thanks and appreciation to the President of the Tunisian Republic and the Prime Minister for their hospitality and reception, which reflects the depth of the fraternal relationship between the two brotherly peoples, indicating that important and constructive discussions were held, complementing the meeting of the Iraqi-Tunisian Committee three months ago, which represented the starting point on which this visit and its outcomes were based.

He stressed the keenness to meet with the private sector and Tunisian businessmen, which was a main axis of the discussions that took place today with the Tunisian government, and the reference to the business environment and available opportunities, whether in Iraq or Tunisia for Iraqi businessmen and companies, and the agreement on joint investment and trade exchange between the two countries. 

The Prime Minister pointed to the promising opportunities available in various sectors, stressing that Iraq has overcome all security challenges after the great victory over terrorism, and that all its regions enjoy security and stability, which made it easy for the government to focus its attention and priorities on comprehensive economic development, investing in Iraq’s natural and human resources, geographical location, and market that accommodates all needs.

Al-Sudani discussed the government's steps in the field of economic reform, enhancing the attractive business environment, and offering opportunities and projects in all sectors, stressing the government's readiness to provide facilities and assistance to the Tunisian private sector, according to an agreed-upon working mechanism.

LINK

LATEST FROM GOLDILOCKS, 30 AUGUST

  Goldilocks 8.30.24

 A September to Remember is coming. You will notice changes next month. I am not calling a paper RV, but I am aware that many birth pangs will begin.

© Goldilocks

----

Next week, the Federal Register is publishing a National Securities Exchange platform.

I will publish the full details tonight at midnight in the Goldilocks QFS Conversations Room. 

This new platform will provide a Section 6 that will allow foreign currency exchanges to take place globally.

© Goldilocks

Dr. Shabibi's Master Plan: The Untold Story of the Iraqi Dinar

Al-Sudani to OPEC Secretary General: Iraq is committed to the organization's production policies, 30 AUGUST

  Al-Sudani to OPEC Secretary General: Iraq is committed to the organization's production policies

Prime Minister Mohammed Shia Al-Sudani received today, Thursday, the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais.

According to a statement by the Prime Minister's Office, a copy of which was received by {Euphrates News}, the meeting addressed "issues related to the oil market, with what the region is witnessing, which represents the main source of oil to the world, and the importance of coordinating joint efforts between all member states of the organization, in a way that maintains the sustainability and stability of oil prices, and does not harm exporters and consumers."

The Prime Minister stressed that "Iraq, as one of the largest oil exporting countries in the organization, always declares its commitment to the general policies of the plans adopted by OPEC countries regarding production, or what is determined within the framework of the OPEC Plus agreement."link

BIG CALL BY BRUCE , 30 AUGUST

 BIG CALL UNIVERSE

TRANSCRIBED BY GEM

Tuesday we didn’t have rates on the bank screen and now we have grey scale on RC screen and can only see bank screen rates and all this will change over the weekend  but for right now grey screen cannot be read but the bank screen can – remember the QFS had to be fully implemented and at 8pm tonight based on the gold backed currencies is now fully implemented and ready to go. 

  And not only the RC but ALL the banks globally are fully integrated. A point about rates – someone is saying the rates are going to be the same at banks as RC  but that is not True – at the RC the Dinar will be 3 x higher and the Dong 2 x as high and Bruce knows them but cannot mention them tonight.   

You must call the number to make your appointment and the toll free number will be like in the three central zones.  By calling the 800 number and you’ll get an AI generated response to you – if we call on a day say Monday /Labour Day – you might just get an AI system and they all the zip codes and Bruce think Canada might be able to use that number  - HSBC and RBC merged into Scotia and that a great back up bank to HSBC and HSBC is global and also Bank Santander  - in South America – and Truist Bank now merged with SunTrust  - and if you are in the US dial the number and you’ll get a RC close to your postcode – even out west you shouldn’t have to drive more than 80 miles or a lot less.   

Timing  - we’ve got information pointing to us getting notified.   On Sunday after Forex comes back up and we’ll see ALL new rates on all currencies but the people at the RC and banks any workers should see all new rates and we should see them Tuesday.   My belief is we could notified on Monday and set our appointment for Tuesday.  Be Prepared.   

What else   - Jeannie always prompts me on R&R  latest on debt relief mortgages and CC eliminated and starting 4  -5 - 6th September  Wed/Thurs/Fri and may take to the 15th to complete.

So give it time to happen and might take awhile to get it all done and we might get that Nesara announcement and R&R that is suppose to kick in the first week of September, sometime in the first week – it might not be in all but might take sometime to reach everyone. 

  If your exchanging your R&R is already in your QFS account  - so if you are exchanges and you should have and be able to see that balance in your QFS account and go through your exchange and get it all done and you’ll be loaded up with a amount ontop of the R&R.   Then you can see that and move what you think you’ll need for 30 – 90 days  - don’t worry you’lll be able to move plenty of money.   Bruce talking about a billion into your master account – but whatever you have set up with LLC’s Bruce plans on setting up individual accounts.   

What going on right now – there are global arrests taking place but we need to get further along and a certain percentage to go forward and I can tell you we don’t have that far to go before they release everything to us and we can easily make that by the weekend.   The Forex closes down tomorrow for 48 hours and back up Sunday with brand new rates.  We have 15 rates on the screen and the IQD isn’t on right now but Bruces guess is it will by Sunday and traded as such Internationally.   And we’ll see that reflected at our appointments so Monday is in play for the emails and numbers.   

And Tuesday we might get to speak with a human – we don’t have to wait for higher rates for certain people that have Dong  but the rates are very good at RC’s and the Bolivar Very Good. 

I can tell you the Zim is on par and no restrictions on how many you exchange.   Just use the RC’s and if you hold Zim you will be a free Qphone.   So hope you have written some notes down and those appointments should be 30 – 40 mins  - so make those presentations concise.

Friday Evening Nothing Burgers with MarkZ. 08/30/2024

Jon Dowling The Weekly Wrap Up 30th August 2024 Latest Updates

Why doesn't Iraq rely on the World Bank to overcome the "dollar crisis"? An expert answers, 30 AUGUST

  Why doesn't Iraq rely on the World Bank to overcome the "dollar crisis"? An expert answers

Today, Friday (August 30, 2024), the expert in economic and financial affairs, Nabil Jabbar Al-Tamimi, commented on the possibility of the World Bank helping Iraq develop its economic and financial situation and solve the remittance crisis.

Al-Tamimi said in an interview with Baghdad Today, "The World Bank is an international banking financial institution affiliated with the United Nations, but it is subject to special management related to the influence of some countries according to their banking contributions, as its tasks are limited to investment financing for countries, providing international loans, and managing projects according to its international banking conditions."

He pointed out that "Iraq is currently working extensively with one of the World Bank institutions with the International Finance Corporation (IFC) to develop a group of sectors, including the transportation and airports sectors," explaining that "the World Bank, as an important international and financial institution and a UN institution at the same time, works with Iraq and other countries in the fields of lending and providing technical consultations, as well as providing Iraq with economic data and analyses within the limits of its work."

The expert in economic and financial affairs stressed that "it is not within the World Bank's jurisdiction to intervene in the issues facing Iraq, especially with regard to the remittance crisis, local banking failures, or weak procedures to protect funds from suspicions of money laundering and financing terrorism."

According to specialists, Iraq has more than (70) banks, approximately five of which are governmental and the remaining number are private banks, but Iraq relies heavily on financial transfers, especially with regard to the dollar, to various foreign banks, due to the failure of Iraqi private banks to arrange their legal and technical situations in the issue of financial correspondence.

Earlier, Alia Nassif, a member of the Parliamentary Integrity Committee, revealed that the Iraqi-Jordanian National Bank had obtained $3.6 billion from the currency auction during the first three months of the current year, which enabled it to obtain a profit of about 40 billion dinars. link