NADER FROM MID EAST: Iqd Iraq dinar for friends only the heaters get the F of the way, 31 MARCH

 NADER FROM MID EAST: Iqd Iraq dinar for friends only the heaters get the F of the way

Highlights

Summary

In a recent statement, Iraqi Minister Muhammad Xia Al Sudini shared significant developments regarding Iraq’s financial structure and economic reforms. 

He highlighted that the US Treasury has recognized Iraq’s advancements on various dollar issues, calling it a revolutionary step that could herald the launch of pivotal reforms in the private banking sector—deemed the most important in Iraq’s history. 

Al Sudini emphasized the newfound control of Iraq’s account with the US Federal Reserve, asserting that it is now managed by the Iraqi government and no longer under United States oversight. 

He addressed the long-standing question of the United States’ silence over the past 20 years, suggesting it relates to America’s concern over the ultimate destinations of its dollar, a stance he acknowledged as legitimate.

The Minister also shared positive news on job creation, confirming that his government is committed to establishing one million job positions within the framework of a three-year budget. This initiative aims to tackle longstanding structural and social challenges, particularly within Iraq’s industrial sector. Furthermore, Al Sudini noted that products from 54 Iraqi factories are now being exported to international markets,

 a development indicative of strengthening national production capacities. Additionally, he reported a substantial increase in electricity production, rising from 19,000 to 27,000 megawatts, positioning this surge as part of the government’s broader strategy to enhance services and meet the increasing energy demands of citizens.

• 🚀 Iraq’s economic reform plan is on the verge of launching, marking a revolutionary shift in the private banking sector.
• 🏦 Control of Iraq’s account with the US Federal Reserve is now under Iraqi government oversight, ending prior dependencies.
• 🔍 The US remains silent on Iraq’s financial issues, which is linked to securing the flow of its dollar.
• 📈 The commitment to create 1 million jobs addresses structural unemployment and social challenges in Iraq.
• 🌍 The export of products from 54 Iraqi factories to foreign markets showcases the growth of national production capabilities.
• ⚡ Iraq’s electricity production has jumped from 19,000 to 27,000 megawatts, indicating substantial improvements in energy capacity.
• 📋 Reform strategies are focused on enhancing services to better meet the needs of the Iraqi people.

Key Insights

• 🌟 Economic Sovereignty: Al Sudini’s declaration about Iraq’s control over its account with the US Federal Reserve signifies a notable shift towards economic independence. This transition is crucial for building a self-reliant economy that can operate without external oversight. It could pave the way for more aggressive economic policies tailored to Iraq’s unique needs and objectives.

• 💡 Strategic Planning and Job Creation: The commitment to creating one million jobs reflects a proactive approach to addressing unemployment. By focusing on structural and social issues, this initiative aims to stabilize the economy and provide sustainable employment opportunities. This is particularly vital in a country facing significant youth unemployment.

• 🔄 Enhanced National Production: The export of goods from 54 factories illustrates a positive trend in national production and competitiveness. By expanding into foreign markets, these factories not only contribute to Iraq’s GDP but also promote global economic integration, potentially attracting foreign investments.

• ⚡ Electrical Capacity Expansion: The reported increase in electricity production by 8,000 megawatts is a significant achievement that can improve the quality of life for citizens. Access to reliable electricity is fundamental for both residential life and industrial activities, facilitating broader economic growth and development.

• 🌍 US-Iraq Relations: Minister Al Sudini’s comments reflect a nuanced perspective on US-Iraq relations. While the silence of the US may be seen as a challenge, it also indicates an opportunity for Iraq to assert its sovereignty and make decisions that are in its best interest without being overly reliant on external approvals.

• ✔️ Reforming the Banking Sector: The anticipated reform in Iraq’s private banking sector can lead to improved financial services, increased investments, and better access to capital. This shift is vital for fostering a robust economic environment where businesses can thrive and contribute to national growth.

• 📊 Focus on Industrial Development: The discussion of addressing accumulated structural problems in the industrial sector reflects a holistic approach to economic recovery. By prioritizing industry, Iraq can diversify its economy, reduce reliance on oil revenues, and build a more sustainable economic model.

This comprehensive analysis of Minister Al Sudini’s statements exemplifies key strategic approaches being adopted by the Iraqi government to bolster its economy. Through an emphasis on job creation, improved energy production, and enhanced national production capabilities,

 Iraq appears to be positioning itself for significant growth and development in the near future. Implementing these reforms will be crucial for ensuring long-term stability and prosperity for the Iraqi people, while also redefining its role in the global economic landscape.