Friday, January 10, 2025

DINAR REVALUATION HIGHLIGHTS!!: THE RV IS IMMINENT

Liquidity ‘shortage’ dismissed by economic expert Dagher, calls for focus on non-oil revenues, 10 JAN

Liquidity ‘shortage’ dismissed by economic expert Dagher, calls for focus on non-oil revenues

Economic expert Mahmoud Dagher rejected the notion of a liquidity crisis in Iraq due to sufficient financial revenues and stable oil prices exceeding $70 per barrel. In an interview with Al-Rasheed TV, Dagher emphasized that Iraq’s financial situation remains stable and capable of covering salaries, even in the event of a drop in oil prices below the budgeted threshold.

He further noted that in scenarios of declining oil revenues, the government has the option to reduce or halt investment expenditures to secure operational budget requirements, a strategy previously adopted during former Prime Minister Haider Al-Abadi’s tenure.

He concluded by urging a focus on non-oil revenues to diversify Iraq’s financial resources, cautioning against populist approaches to economic policy and calling for pragmatic decision-making to address the country’s structural financial challenges.

Excerpts from Mahmoud Dagher’s interview:

We have three types of salaries in the state: employees, retirees under the Pension Authority and the Social Welfare Network, which is covered by the Ministry of Finance through its dollar revenues, converted into dinars via the Central Bank. In case of a liquidity shortage, borrowing becomes the alternative.

There is no liquidity shortage, but rather poor management and coordination. Revenues are sufficient, and oil prices remain above $70 per barrel. Therefore, salaries cannot be stopped. However, there is a coordination issue between the Ministry of Finance and the Central Bank, as approval takes 30–40 days to be reinforced, and we need some accounting adjustments to resolve the matter.

If oil prices drop, the investment budget can be reduced or halted to ensure the operational budget is secured. Previous governments adopted this approach several times, particularly in 2015 and subsequent years.

I support an annual budget because it accounts for all variables. The three-year budget did not achieve the financial stability it was supposed to, as it remains merely a set of future plans. Moreover, we have not benefited from the annual budget system in past years due to delays in its approval.

A weak economy with limited options does not allow for ambitious moves. It requires a wise decision-maker. So far, the Iraqi government has been prudent in its economic decisions. However, Mr. Ammar Hakim’s warnings about the Syrian currency scenario are directed at political leaders, cautioning them against the risk of U.S. sanctions.

In politics, we can talk about rising growth rates, but in economics, it’s a different story. On the ground, Iraq still lags in infrastructure development. We must increase non-oil revenues, and if some are displeased, so be it—because we must move away from populism. link

MELANIA HINDS CC HIGHLIGHTS NOTES, 10 JAN

MELANIA HINDS CC HIGHLIGHTS NOTES

Highlights

🌍 Iraq’s Readiness for International Market: Sudani’s announcement indicates a major shift in Iraq’s economic strategy, focusing on attracting foreign investment.

🤝 Memorandums with Iran: The signing of eight agreements with Iran signifies a strategic partnership aimed at enhancing regional stability and cooperation.
📈 Currency Revaluation Discussions: The potential for the Iraqi dinar’s revaluation is being actively discussed, with indications that the necessary frameworks are in place.
💼 World Bank’s Role: The World Bank’s engagement is crucial for Iraq’s infrastructure projects and overall economic stability, positioning Iraq as a global player.
🏛️ Legislative Developments: Ongoing discussions regarding the oil and gas law and other legislative measures are essential for Iraq’s economic growth and independence.
📊 Impact of Foreign Investments: Sudani’s government is focused on creating a favorable environment for foreign investments, which could stimulate job creation and economic growth.
🙏 Community Reflection: The video begins with a heartfelt tribute to a fallen community member, showcasing the personal connections within the audience.

Key Insights

🌟 Iraq’s Economic Transition: The recent statements from Mr. Sudani signal a pivotal moment for Iraq as it seeks to transition from a post-conflict economy to one that can actively participate in global markets. This transition requires not only financial reforms but also a cultural shift towards embracing foreign partnerships and investments.
💡 Strategic Alliances: The memorandums signed with Iran highlight Iraq’s strategic approach to fostering regional relationships. By collaborating with neighboring countries, Iraq aims to enhance its security and economic viability, which is crucial given the historical complexities of the region.
💵 Potential for Currency Revaluation: The discussions surrounding the Iraqi dinar’s potential revaluation suggest that the government is aligning its financial policies with international standards. This move could significantly impact the purchasing power of the dinar and the overall economic landscape, making it a focal point for investors.
🏗️ Infrastructure Development: The emphasis on infrastructure rehabilitation by the World Bank is indicative of a long-term vision for Iraq’s economic recovery. Efficient infrastructure is vital for attracting investments and facilitating trade, which are essential for sustainable growth.
🔑 Legislative Frameworks for Economic Growth: The ongoing legislative efforts, particularly concerning the oil and gas law, are critical for establishing a robust framework that governs Iraq’s natural resources. Such laws are not only constitutional requirements but also pivotal for ensuring that the benefits of these resources are maximized for the Iraqi people.
🔄 Currency Mechanisms: The shift towards utilizing global exchange companies and correspondent banks indicates a move away from traditional reliance on the US dollar. This diversification could provide Iraq with more autonomy over its currency and reduce vulnerability to external economic pressures.
📈 Community Engagement and Awareness: Melanie’s call for community engagement reflects the importance of staying informed in rapidly changing economic conditions. This aspect of community involvement is vital for individuals looking to navigate the complexities of currency exchange and investment opportunities in Iraq.

FRANK26: STOP AUCTIONS MEANS ADD A NEW EXCHANGE RATE TO THE DINAR!! @DINARREVALUATION #iqd

Head of Parliamentary Finance to World Bank delegation: We support any loans that bring benefit, 10 JAN

Head of Parliamentary Finance to World Bank delegation: We support any loans that bring benefit

On Wednesday, January 8, 2025, the head of the Parliamentary Finance Committee, Atwan Al-Atwani, met with a delegation from the World Bank headed by Jean-Christophe Carré, Regional Director for the Middle East, to discuss supporting the railway rehabilitation project within the Development Road Project, stressing support for borrowing.

We support any loans that are beneficial.

According to a statement by Al-Atwani's office, seen by "Ultra Iraq", "the meeting reviewed the economic and regional vision of the development road project and its strategic importance in stimulating investment movement, maximizing non-oil revenues, and providing job opportunities. It also discussed the possibility of the private sector contributing to its implementation."

The meeting also "discussed the multi-stage support provided by the World Bank for the Development Road Project, including modernizing and rehabilitating the current railway network and linking it from southern Iraq through the north and reaching Turkey."

The statement added: "Al-Atwani reiterated his emphasis that the infrastructure of the development road should be in the hands of the government so that this important project that links Iraq to the countries of the world is not subject to influences." The head of the parliamentary committee pointed out that "our vision is that the development road project should not be a mere transit point, but rather we seek to make it a gateway to activate various economic and commercial activities and develop the infrastructure," calling on the World Bank delegation to present new visions and ideas regarding achieving the optimal investment for this huge project that is hoped to make Iraq an economic corridor linking Asia to Europe."

Al-Atwani stressed the "necessity of expediting the submission of the feasibility study related to the railway development plan within the development road project, and contributing to mobilizing international expertise and attracting the private sector to invest in it in a way that achieves the country's interest."

He added: "We look forward to holding joint workshops and extensive meetings with the World Bank, to provide a full briefing on the project details and discuss its details in a way that secures broad parliamentary support for this borrowing," indicating that "the Finance Committee supports any loans that are economically feasible and bring great benefit to the Iraqi economy, especially since investment in the railway sector is a successful trend and achieves a large financial return."

For his part, according to the statement, "the World Bank delegation appreciated the valuable comments made by Al-Atwani within the framework of the rapid transition from the planning and vision stage to the implementation stage, stressing the World Bank team's readiness to submit the feasibility study, project path and details by next February." link

TIDBIT FROM JEFF, 10 JAN

Jeff

What they're doing is selling US dollars to pay for and fund imports coming into Iraq...What they've done with this new transfer system is they've made back end changes that are not visual...

What they've done...is transition so that they can allow their banks to do these international transfers...There's only so much they can do with banking reforms at this time until the rate physically changes.

Again, what they're doing is they're positioning the banks to...do foreign transfers with the US dollars...now instead of that money being sent directly from the central bank it's being routed and sent from the local banks within Iraq.

That prepares Iraq to be ready towards going international...

MAJEED: STATUS OF IRAQ TODAY,!! @DINARREVALUATION #iraqidinarinvestor #iraqidinar

Iraq, Jordan forge stronger ties to boost regional stability and economic growth, 10 JAN

Iraq, Jordan forge stronger ties to boost regional stability and economic growth

Former Jordanian government spokesperson Mohannad Mubaidin affirmed, on Thursday, the ongoing collaboration between Iraq and Jordan to maintain security and stability in the region, particularly in light of last year’s rapid developments.

"King Abdullah II is committed to ensuring that Jordan’s relationship with Iraq is both impactful and geared towards achieving stability and security in the Middle East,” Mubaidin said in an exclusive statement to Shafaq News, adding that "several meetings have been held between the two sides, focusing on key areas, including bolstering security systems and combating terrorism."

High-Level Visits Cement Relations

Iraqi Prime Minister Mohammed Shia Al-Sudani visited Jordan on Dec. 11, 2024, meeting with King Abdullah II to discuss Arab and regional strategies amid ongoing developments in the region, particularly in Syria. This visit underscored Iraq’s strong interest in its ties with Jordan.

On Dec. 15, 2024, Iraqi Parliament Speaker Mahmoud Al-Mashhadani traveled to Amman, where he met King Abdullah II, Jordanian Parliament Speaker Ahmed Safadi, and Senate President Faisal Al-Fayez. According to a statement from Al-Mashhadani’s office, his meeting with Jordanian Prime Minister Jaafar Hassan focused on strengthening bilateral cooperation across political, economic, and security domains, aiming to support stability and development in both nations.

Economic and Trade Ties Flourish

Jordanian officials have emphasized the strategic importance of their partnership with Iraq. Mubaidin reiterated, "Jordan recognizes the depth and significance of its relationship with Iraq and consistently advocates for joint efforts to ensure Iraq’s security and stability while fostering a comprehensive partnership that benefits both nations."

Economic ties between the two countries also remain robust. On Tuesday, the Jordanian Chamber of Commerce announced that Iraq ranked as Jordan’s largest importer in 2024, with total imports valued at 691 million Jordanian dinars.

The oil trade is another vital pillar of cooperation. According to statistics released by Iraq’s State Oil Marketing Organization (SOMO) on Dec. 28, 2024, Iraqi oil exports to Jordan rose by 7.45% over the first 11 months of 2024, reaching 3.56 million barrels compared to 3.31 million barrels during the same period in 2023. SOMO further reported that Jordan imported approximately 3.8 million barrels of Iraqi oil last year under a renewed agreement signed in mid-2024.

Expanded Energy Cooperation

In August 2024, Iraq and Jordan agreed to increase monthly oil exports from 10,000 barrels to 15,000 barrels, raising the annual total from 300,000 barrels to 450,000 barrels. This expansion now covers approximately 10% of Jordan’s crude oil needs, reflecting the strengthening economic ties between the two nations.

Through mutual commitments to security, economic development, and energy collaboration, Iraq and Jordan continue to set an example of regional partnership, working together to promote stability and prosperity for their citizens. link

DINAR GURUS UPDATE : The exchangeability of 25,000 dinar notes and the importance of the oil and gas law in Iraq’s socio-economic landscape, 10 JAN

DINAR GURUS UPDATE : The exchangeability of 25,000 dinar notes and the importance of the oil and gas law in Iraq’s socio-economic landscape

Highlights

💰 Exchangeability of 25,000 Dinar Notes: Viewers are informed that they can exchange their 25,000 dinar notes at banks, ATMs, and currency exchange shops in Iraq.
🚫 Non-Exchangeable Notes: The 50 dinar note and Swiss notes featuring Saddam Hussein are defined as non-exchangeable, cautioning viewers against holding onto them.
📄 Exchange Process Simplified: A straightforward five-step process for exchanging currency is provided, ensuring viewers know what to expect.
🌍 Challenges of Exchanging Currency Abroad: The video highlights the difficulties of exchanging Iraqi dinar notes outside of Iraq, advising viewers to exchange them before leaving.
🛢️ Urgency of the Oil and Gas Law: The Kurdish National Union’s push for the oil and gas law is emphasized, linking it to Iraq’s economic stability and development.
📊 Impact of Oil Management: The potential benefits of the oil and gas law, such as attracting foreign investment and job creation, are discussed as crucial for Iraq’s economic future.
⚖️ Socio-Economic Implications: The video concludes with a broader reflection on how the passing of the oil and gas law could significantly improve the daily lives of Iraqi citizens.

Key Insights

💡 Understanding Currency Exchange: The video serves as a valuable resource for understanding how to effectively manage and exchange Iraqi dinar notes. The emphasis on being informed about exchange policies and rates empowers viewers to make better financial decisions. By knowing which denominations are exchangeable and where to exchange them, individuals can navigate potential pitfalls more effectively, avoiding the frustration experienced by the traveler Ali.
🔄 Fluctuating Exchange Rates: The host’s advice to check the latest exchange rates before initiating transactions speaks to a broader financial principle—being proactive and informed can lead to better financial outcomes. With global currency markets being volatile, this insight is particularly relevant for anyone dealing with foreign currencies.
🏛️ Political Landscape and Economic Stability: The discussion surrounding the oil and gas law reveals the intricate link between governance and economic health. The urgency expressed by the Kurdish National Union underscores the reality that political decisions directly impact economic stability. This insight emphasizes the need for effective governance structures to manage natural resources, which can foster economic growth and stability.
🔗 Resource Management as a Catalyst for Development: The host highlights that passing the oil and gas law is not merely a bureaucratic task; it has real-world implications for development and regional stability. By ensuring that oil revenues are fairly distributed, the law could alleviate tensions between different regions in Iraq, promoting peace and collaboration.
📈 Foreign Investment Attraction: The potential of the oil and gas law to attract foreign investment is a critical point. Investors often seek stability and clarity in legal frameworks before committing resources. Therefore, enacting this law could serve as a catalyst for significant economic growth, providing jobs and improving infrastructure in Iraq.
⚠️ Historical Context of Oil Management: The video touches upon Iraq’s historical challenges in oil management, particularly under Saddam Hussein. Understanding this context is essential for grasping the importance of the proposed law as a means to rectify past mismanagement and corruption. It indicates a desire for a fresh start and a more sustainable approach to resource management.
🌐 Global Implications of Local Legislation: The video posits that the stakes involved in passing the oil and gas law extend beyond local politics; they have global ramifications. As Iraq navigates its resource management, the international community watches closely, understanding that stability in Iraq could influence regional dynamics and global oil markets.

In conclusion, this video not only provides practical information regarding currency exchange but also delves deep into the socio-political and economic ramifications of Iraq’s oil management policies. By combining practical advice with a broader contextual understanding of Iraq’s challenges, the video serves as an important resource for anyone interested in the Iraqi economy and its future trajectory.