[via PDK] I ...heard they [rates on bank screens] are changing and fluctuating. I am hoping this means they are priming the system again. My banking contacts say they are seeing many different rates…rates are rolling all over the place…Hopefully they are checking the system and priming the system….
Member: Is Zim still supposed to be in the first basket?
MZ: That is what I believe and what I hear from my best contacts…
Member: According to Militiaman the HCL is finished.
Member: Who gives Iraq permission to go???
MZ: At this point I believe it’s a compilation of the IMF, World Bank and the UN …but it is very confusing. The president of Iraq says it's up to the CBI now….But , if it’s up to the CBI I am thinking they would already have released it.
Member: Mark- Do you believe the new lower denoinations have already been printed in Iraq?
MZ: Yes I do…We have seen the contracts years ago and the paid receipts from the government of Iraq with DeLaRue to print them…... Many contacts in Iraq have seen the cut sheets (samples of LD’s) in banks.
Talabani calls on Japan to encourage its companies to invest in Kurdistan
Pavel Jalal Talabani, President of the Patriotic Union of Kurdistan, called on Japan to encourage its companies to invest in the Kurdistan Region, stressing the provision of incentives and guarantees to ensure investors.
His media office said in a statement received by Al-Masry that “Talabani received in Sulaymaniyah today the Japanese Ambassador to Baghdad, Matsuo Moto, and the two sides discussed developing relations and expanding the circle of economic and trade coordination in a way that preserves the highest interests.”
Talabani pointed out during the meeting, according to the statement, to “the opportunities available in the Kurdistan Region, including Sulaymaniyah, for capitalists and investors,” indicating that “we provide all facilities to strengthen the economic structures in the Kurdistan Region,” expressing his hope that Japan would play “an influential role in encouraging its companies and businessmen to pump investments into the Kurdistan Region.”
According to the statement, "the two sides discussed developing cultural relations between the Kurdistan Region, including Sulaymaniyah, the capital of culture, with Japan." link
I just read an article not that long ago that said oil sales are now 89% of their budget which is good. Remember it was 96% of their budget...Iraq is going in the right direction but they still rely on oil sales way too much...
If Iraq starts stumbling and the prices drop low for oil per barrel then they start operating in the deficit...If it keeps dropping and gets too low then they're going to have no choice but to...devalue the Iraq dinar...
No body said they're doing it. I'm just saying we really got to pay attention to the price of oil per barrel because if it gets too low they don't need to tell us what's going to happen, you should already be aware that's what they're going to do...
Pimpy
I'm not saying they're going to devalue the currency right now.
What I am saying is if they stay below $70 [per barrel of oil] for the medium term, you can see them devalue the currency. I don't think it's going to happen anytime this year because the year is almost over.
I'd be a little nervous going into 2025.
PIMPY CC NOTES HIGHLIGHTS: "THE NECESSARY STEPS FOR IRAQ TO REINSTATE THE DINAR RATE AT $3.22" BY PIMPY, 16 SEPT
Summary
Pimpy discusses the necessary steps for Iraq to reinstate the $3.22 dinar rate, emphasizing economic reforms and stability.
Highlights
💼 Monetary Reforms: Iraq needs comprehensive monetary reforms to stabilize its economy.
💵 Currency Basket: Adopting a basket of currencies will reduce reliance on the US dollar.
🚜 Economic Diversification: Iraq should diversify beyond oil to strengthen its economy.
📈 Foreign Investment: Attracting foreign investment is crucial for economic recovery.
⚖️ Political Stability: A stable political environment fosters confidence in the dinar.
📊 Inflation Control: Monitoring and controlling inflation is essential for maintaining currency value.
🏦 Engagement with Institutions: Collaborating with international financial institutions can support necessary reforms.
Key Insights
💡 Monetary Reforms: Implementing monetary reforms, including deleting zeros from the currency, can help restore public confidence and stabilize the economy. This is a long-discussed yet crucial step for Iraq’s financial health.
🌐 Currency Basket: By adopting a currency basket system, Iraq can mitigate risks associated with dollar fluctuations, providing a more stable foundation for international trade and enhancing economic resilience.
📉 Economic Diversification: Reducing oil dependency is vital. Recent agreements with Turkey on agriculture infrastructure can potentially boost Iraq’s agricultural sector, indicating a step towards diversification.
📈 Foreign Investment: Iraq must create a favorable environment for foreign investors through regulatory reforms, which is essential for economic growth and stability.
🔒 Political Stability: Ensuring political stability is key to building trust among citizens and investors alike, which will lead to increased usage of the dinar over foreign currencies.
📉 Inflation Control: The Central Bank’s role in controlling inflation through effective monetary policy is vital for maintaining the dinar’s value, currently facing a 5% inflation rate.
🤝 International Engagement: Collaborating with organizations like the IMF can provide Iraq with guidance and financial support to implement necessary reforms, aiding in achieving its monetary goals.
PM Al-Sudani Meets with Apple Inc. Delegation in Iraq 2024
On September 17, 2024, Iraqi Prime Minister Mohammed Shia al-Sudani convened with a high-level delegation from Apple Inc. This significant meeting aimed at exploring cooperation prospects and discussing Iraq's ongoing digital transformation. Al-Sudani emphasized Iraq's commitment to embracing the digital economy and becoming an attractive environment for international companies.
Iraq is undergoing a pivotal digital shift, as highlighted by the Prime Minister. The High Committee for Digital Transformation, chaired by Al-Sudani, is spearheading this initiative to modernize the country's infrastructure and services. The meeting with Apple Inc. is a testament to Iraq's efforts to forge partnerships with global tech giants.
Enhancing Youth Skills
Recognizing the need for a skilled workforce, Al-Sudani underscored the importance of developing digital and technological capabilities among Iraq's youth. This strategy aims to create job opportunities and support government programs aimed at achieving a fully integrated digital system for public services.
Apple's Initiatives
The Apple delegation proposed several initiatives to support Iraq's technological growth. These include collaboration with universities and training programs for young developers. The delegation also suggested a mobile phone registration system to ensure competitive pricing for devices entering the country, an initiative that aligns with Iraq's digital transformation goals.
Mobile Phone Registration System
A key proposal from Apple was the implementation of a mobile phone registration system. This system would help regulate the market and ensure that devices entering Iraq are offered at competitive prices. By doing so, it would foster a more stable and competitive environment for both consumers and businesses.
Visualizing Iraq's Digital Shift
To gain a clearer understanding of Iraq's digital transformation efforts, let's visualize the potential impact of the mobile phone registration system proposed by Apple Inc.
Area Chart: Potential Impact of Mobile Phone Registration System
This area chart demonstrates the projected effects of the mobile phone registration system on the Iraqi market, illustrating trends in device prices, market stability, and competitive dynamics.
Visualizing Iraq's Digital Landscape To better understand the scope of Iraq's digital transformation and the potential impact of Apple's initiatives, let's examine a timeline of key events related to Iraq's digital development and the country's relationship with major tech companies. 31/12/2021 Iraq establishes the Higher Committee for Digital Transformation
31/5/2023 Iraq's digital transformation gains momentum
15/9/2024 Iraq hosts a delegation from Apple Inc.
15/9/2024 Iraq and Apple discuss digital initiatives
30/11/2024
Implementation of digital initiatives begins
Conclusion The meeting between Prime Minister al-Sudani and the Apple delegation signifies a pivotal moment in Iraq's digital transformation journey. With a focus on enhancing the capabilities of the youth and expanding employment opportunities through digital means, the collaboration between Iraq and Apple holds significant potential for the country's technological and economic development. 1
PM Muhammed S. Al-Sudani met on Monday a delegation from Apple Inc., accompanied by the Head of the Communications and Media Commission, Ali Al-Muayyad.
During the meeting, discussions were held around shared topics of interest as the PM highlighted the ongoing digital transformation in Iraq and the work of the Higher Committee for Digital Transformation, which he heads, alongside other committees working in this field, according to a statement by the PM Media Office - received by the Iraqi News Agency - INA.
He also mentioned Iraq’s evolving status as a 'successful investment environment', with many major companies operating in the country, which requires a rapid digital shift.
The Prime Minister emphasized the importance of enhancing the digital and technological capacities of Iraq's youth, which would expand employment opportunities and support the government’s objectives of completing all transactions through a fully integrated digital environment. The Apple Inc. delegation proposed initiatives to help develop the skills of young people, focusing on technology developers in collaboration with universities.
They also suggested working on registering devices that enter Iraq to "ensure competitive pricing," acknowledging the significance of Apple’s products in supporting digital transformations in the economy and financial sectors
Iraq’s digital transformation is accelerating, with significant investment and interest from global companies like Apple, indicating a bright economic future.
Highlights
🌍 Digital Revolution: Iraq is moving towards a fully digital economy.
📈 Economic Growth: Reports indicate unprecedented GDP growth and reduced national debt.
🏡 Real Estate Investment: Iraq is enhancing its real estate sector to attract global attention.
⚽ Tourism Promotion: Efforts are underway to market Iraq as a stable tourist destination.
💰 Sovereign Fund: A new Sovereign Fund is being established to manage national finances.
📱 E-Payments: Collaborations with international financial institutions for better payment systems.
🚀 Optimism: Positive outlook from experts on the future of the Iraqi Dinar and its value.
Key Insights
🌐 Digital Economy: Iraq’s shift to a digital economy is crucial for attracting foreign investments and enhancing financial inclusion. This modernization could lead to better economic stability and growth.
📊 Investor Interest: The entry of major players like Apple signals international confidence in Iraq’s potential, which could lead to significant technological advancements.
🏢 Real Estate Development: Investments in real estate and tourism reflect Iraq’s commitment to becoming a global player, enhancing its economic landscape and job creation.
🔍 Regulatory Improvements: Collaborations with the IMF and other financial entities indicate a strong push towards regulatory reforms, ensuring a stable investment environment.
🌟 Sovereign Fund Significance: The establishment of a Sovereign Fund is a strategic move to manage national resources effectively, potentially stabilizing the economy and enhancing public services.
📲 E-Payment Systems: The focus on digital payment systems is vital for modernizing Iraq’s banking infrastructure, which will facilitate smoother transactions and increase economic participation.
🕊️ Positive Outlook:Many experts believe that with ongoing reforms, Iraq is on the verge of an economic renaissance that could significantly increase the value of the Iraqi Dinar.
Today, Tuesday, Minister of Finance Taif Sami signed a loan financing agreement from the Austrian Erste Group Bank to support the center pivot irrigation systems project for the Ministry of Agriculture, stressing that this comes within the strategy of bilateral cooperation between the two countries.
The ministry said in a statement received by "Mil", "Finance Minister Taif Sami signed today with the Austrian ambassador to Baghdad a loan financing agreement from the Austrian Erste Group Bank to support the pivot irrigation systems project for the Ministry of Agriculture, with a value of (262,155,298) euros, and implemented by the Austrian Power Company."
She explained that "signing the agreement falls within the framework of the government's efforts to enhance infrastructure and improve public services, and this funding is expected to contribute to revitalizing the agricultural sector, alleviating water scarcity, stimulating economic growth and creating more job opportunities."
She added, "The agreement comes within the strategy of joint bilateral cooperation between the Republic of Iraq and the Republic of Austria, and in implementation of the ministerial program and General Budget Law No. (13) for the years 2023, 2024 and 2025 and Cabinet Resolution No. 24630 of 2024, which focuses on adopting a governing vision for external borrowing for the benefit of investment projects with economic feasibility."
The Minister of Finance stressed, according to the statement, "the importance of this step in enhancing economic cooperation between Iraq and Austria, and looking forward to more joint projects in the future."
She pointed out that "the Austrian company Power will provide technical and advisory support to the Ministry of Agriculture during all stages of the project, including design, implementation, operation and maintenance."
She explained that "the project represents an important step towards modernizing the agricultural sector in Iraq, especially in light of the challenges facing the sector due to water scarcity and climate change, in addition to the fact that this investment will achieve significant economic returns in the long term, by increasing agricultural production and reducing dependence on imports link
Al-Sudani Announces Imminent Conclusion of International Coalition Mission in Iraq
Iraq's Prime Minister Mohammed Shia Al-Sudani has confirmed that the end date for the International Coalition's mission in Iraq will be announced soon. This announcement comes as Iraq transitions from a period of wars to one of stability, with the justifications for the coalition's presence considered to have ended.
Iraq's Shift to Stability and Sovereignty
The coalition's mission is part of the government's program, reflecting a shift in focus from military engagement to stability and sovereignty. Al-Sudani has initiated a dialogue with the coalition, involving discussions over the withdrawal process.
U.S. Military Presence and Bilateral Talks
Approximately 2,500 U.S. troops are currently stationed in Iraq as part of the Combined Joint Task Force-Operation Inherent Resolve. The end of the coalition's mission will not signify a breakdown in relations between Iraq and the U.S. Instead, it marks the beginning of bilateral talks to build sustainable security relationships.
Iraq's Position Post-withdrawal
Iraq respects the choices of the American people and will deal with any administration that gains public confidence. The strategic framework agreement between the two countries will be activated to guide future interactions.
The Role of the Coalition in Iraq's Future
Iraq's move from a period of wars to one of stability signals a new era of self-sufficiency and national sovereignty. The defeat of Daesh/ISIS has been a critical factor in this transition.
Conclusion
The announcement of the end date for the International Coalition's mission in Iraq by Prime Minister Al-Sudani marks a significant milestone in Iraq's journey towards stability and sovereignty.
The move reflects a broader shift in focus from military engagement to sustainable security relationships, particularly with the U.S.
This transition is a testament to Iraq's resilience and its ability to overcome challenges, such as the defeat of Daesh/ISIS, and move towards a future defined by peace and self-determination.
Al-Sudani announces the imminent end of the international coalition mission in Iraq: We will deal with any American president
Prime Minister Mohammed Shia al-Sudani announced on Tuesday that the international coalition's mission in Iraq is about to end, while indicating that Iraq will deal with any new American administration.
Al-Sudani said in an interview with the American Bloomberg Channel and Agency: "Iraq is an important country in OPEC and OPEC Plus and is committed to reducing its oil production, and we are committed to OPEC's decisions in a way that maintains oil prices and the equation between the interests of producers and consumers."
He added: "We have two options regarding exporting oil through the port of Ceyhan, either amending the contracts, which was rejected by the companies contracting with the region, or amending the budget law, and this matter requires political consensus."
He continued that "the justifications for the presence of the international coalition in Iraq have ended, and Iraq 2024 is not Iraq 2014," noting that Iraq has shifted from a stage of wars to a stage of stability, and ISIS does not pose a threat to the Iraqi state. Al-Sudani
continued: "We have started a frank dialogue with the international coalition and formed a bilateral committee to arrange the withdrawal of coalition forces, and to announce the end of the coalition forces' mission in Iraq soon," indicating that "the end of the international coalition's mission does not mean the end of the relationship between Iraq and the United States, but rather the opposite, we are engaged in Talks to build sustainable security relations and economic, cultural, social and scientific ties. He added: "We will participate in the international conference of the coalition against the terrorist ISIS." He added: "We respect the choices of the American people in choosing their president and we will deal with any administration," stressing that "Iran supports the political process and Iraq's efforts in combating terrorism." Al-Sudani concluded that "Iraq is the only country in the region that has distinguished relations with Iran and the United States." link
Foreign Currency Exchange
Swift has upgraded to the iso20022 compliance system. Swift is preparing for currency exchanges in the quantum financial system.
Department of the Navy & the Defense announced new codes being implemented into the banking system relevant to foreign currencies exchanges & recorded/archived in the federal register (similar to the iraq gazette).
Laws being/has been implemented for our military officer & contractors around the world on how they’ll be able to exchange foreign currencies in the new quantum system.
Swift is now transitioning to be able & allow us to go to Banks & exchange our foreign currencies in the new quantum financial system on the digital platform.
-freedomfighter
I’m sticking to my prediction!!!
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