UN Representative Explores Nasiriyah Marshes on River Tour
Number of readings: 97 Saturday 18 January 2025 19:22 | Economic Baghdad / NINA / The Special Representative of the Secretary-General of the United Nations in Iraq, Head of the United Nations Assistance Mission (UNAMI), Ambassador Mohammed Al-Hassan, conducted an exploratory river tour in the Nasiriyah marshes today, Saturday, accompanied by the Minister of Water Resources, Aoun Diab, and the dismissed Governor of Dhi Qar, Murtada Al-Ibrahimi. / End 5 https://ninanews.com/Website/News/Details?key=118077
In this engaging video summary, the speaker provides a comprehensive overview of the latest developments concerning the Iraqi dinar, emphasizing the Central Bank of Iraq’s (CBI) recent actions and the implications for the currency’s value.
Key updates include the unveiling of new bank notes with advanced security features aimed at preventing counterfeiting and ensuring a smooth transition for the public. The speaker highlights the importance of maintaining local price stability and fostering a competitive financial market.
Insights from various contributors and analysts reveal an anticipation of a potential rate change in the near future, with the speaker expressing optimism based on insider information and ongoing discussions within Iraq’s financial and parliamentary systems. The video concludes with an invitation for viewers to join a live discussion to celebrate the potential changes.
🚨 New Bank Notes Introduced: The Central Bank of Iraq has revealed new bank notes featuring advanced security features.
💡 Focus on Security: Enhanced security measures include tactile indicators for visually impaired individuals, ensuring accessibility.
📈 Rate Change Anticipation: Analysts believe the new rates for the dinar could be implemented imminently, possibly changing the currency’s valuation.
🏛️ Parliamentary Developments: Ongoing discussions in the Iraqi parliament regarding budget amendments may be linked to the currency’s potential rate change.
🌍 International Business Outreach: The CBI is actively promoting Iraq as an investment destination, showcasing its commitment to economic growth.
🤝 Community Engagement: The speaker encourages viewer interaction and participation in live discussions to foster a shared sense of community.
💰 Investment Strategies: The speaker offers unique strategies for maximizing the investment potential of the Iraqi dinar.
Key Insights
💵 Significance of New Bank Notes: The CBI’s introduction of new bank notes signifies a commitment to modernizing Iraq’s financial system. By incorporating tactile features, the CBI not only enhances security but also ensures inclusivity for individuals with disabilities. This move could bolster public confidence in the currency and facilitate smoother transactions, which is critical for economic growth.
🔍 Counterfeit Prevention Measures: By emphasizing the importance of reporting counterfeit currency, the CBI aims to create a secure banking environment. This effort reflects a broader strategy to stabilize the economy and build trust in the financial system, which is essential for attracting foreign investment and fostering local businesses.
🚀 Economic Growth and Job Creation: The CBI’s focus on maintaining local price stability and promoting sustainable growth illustrates its commitment to lifting Iraqi citizens out of poverty. Through partnerships with foreign entities and investments in infrastructure, the CBI seeks to create job opportunities, which is vital for long-term stability and prosperity.
📉 Potential for Rate Change: The anticipation of a rate change reflects the broader economic reforms being enacted in Iraq. Analysts’ insights suggest that with the right conditions, the CBI could implement a new rate that would enhance the dinar’s value against other currencies. This potential change could attract more investors and boost consumer confidence.
🏛️ Legislative Context: The ongoing discussions in the Iraqi parliament regarding budget amendments indicate that legislative support is crucial for implementing economic changes. The fact that the budget could be automatically approved after a certain period highlights the urgency of these decisions in the context of currency reform.
🌐 International Investment Appeal: By actively reaching out to international investors, the CBI is signaling that Iraq is open for business. This outreach is a strategic move that could lead to increased foreign direct investment, which is necessary for revitalizing the economy and improving infrastructure.
🗣️ Community and Engagement: The speaker’s approach to fostering community engagement through live discussions reflects a growing trend in digital communication. By inviting audience participation, the speaker not only builds a loyal following but also creates an interactive platform for sharing insights and strategies related to currency investment.
In conclusion, this video encapsulates the current climate surrounding the Iraqi dinar, highlighting significant advancements in the financial system, legislative processes, and community engagement. The insights provided not only inform viewers about recent developments but also empower them to consider the implications of these changes on their investments and the broader economy. As the situation evolves, maintaining an informed and engaged community will be essential for navigating the complexities of the Iraqi financial landscape.
Parliamentary Finance: budget amendment covers Kurdistan Region's oil extraction
Shafaq News/ The Parliamentary Finance Committee in Iraq revealed the details of a proposed amendment to Article 12 of the Federal Budget Law.
Committee member Mahasen Hamdoun told Shafaq News “the amendment includes a $16 per barrel cost for extracting oil from the Kurdistan Region, which will be deducted from the region's oil sales”.
She explained that the remaining amount from the oil sales will go to the Iraqi treasury, and the government will then allocate funds to pay salaries for the region's employees.
Several lawmakers have objected to this and called for the inclusion of a provision in the budget that would allocate financial resources to other provinces.
It was noted that the financial allocation for regional development in the 2024 budget is 1 trillion dinars,
but only 200 billion dinars have been disbursed so far, leading to confusion in provinces due to the lack of sufficient funding.
Earlier today, the Finance Committee announced it had voted on the proposal to amend Article 12 concerning the export of oil from the Kurdistan Region and production and transportation costs in the Federal Budget Law.
On Sunday, a senior Kurdish delegation, led by Finance Minister Awat Sheikh Janab, arrived in Baghdad to negotiate solutions to the ongoing salaries crisis in the Kurdistan region.
The delegation is set to meet with Iraq's Federal Finance Minister Taif Sami to discuss mechanisms for resolving delays in salary payments, a source in the Kurdish Ministry of Finance and Economy confirmed.
“Iraqi banks refuse to hand over citizens' deposits under the pretext of lack of liquidity”
We know what that means…. Controlling liquidity in the market in Iraq today
It’s a fucking party time -----
The war is approaching…
Trump will issue an order to use force against a notorious militia because of its threat to American interests in the Middle East, similar to the decision to designate Al-Qaeda in 2001
Hell will reign on those militias
Iraqi Parliament includes Amnesty Law amendment; Taqaddum Bloc to resume sessions
Shafaq News/ The Iraqi Parliament has included the draft amendment to the General Amnesty Law in the agenda for Tuesday's session, Iraqi MP Nayef al-Shammari announced on Sunday.
Following the Parliament's decision, MP Jamil Abed Sabbak of the Progress Party (Taqaddum) confirmed to Shafaq News Agency that the bloc decided to resume participation in parliamentary sessions after receiving assurances from other political blocs that the Amnesty Law would be included in upcoming sessions.
"Introducing and voting on the Amnesty Law is a crucial step in fulfilling our commitments to the people, particularly in delivering justice to those wronged by unjust judicial decisions or legal violations," Abed Sabbak explained. "However, our stance is clear: we advocate for justice for the innocent, not for those with blood on their hands."
The MP further affirmed, "The Taqaddum bloc views this law as an opportunity to promote fairness, provided it is applied cautiously to ensure that those responsible for serious crimes or acts of violence are not granted impunity."
"Our goal is to offer hope to those affected and strike a balance between justice and social reconciliation."
On January 13th, the Taqaddum bloc decided to boycott Parliament sessions due to the exclusion of the Amnesty Law amendment and non-compliance with political agreements, confirming it would “continue the boycott until the law is added to the agenda.”
The Iraqi Parliament completed the second reading of the Amnesty Law amendment on September 16, 2024.
About the Law
Sunni parliamentary and political forces continue to press for the passage of the General Amnesty Law, a proposal that has met opposition from Shiite factions due to concerns over the potential release of detainees linked to terrorism charges. Since the formation of PM Mohammed Shia Al-Sudani’s government, this law’s fate remains uncertain. Despite an agreement to enact it, observers point to a lack of political will, particularly within the Shiite Coordination Framework (CF), which is believed to be delaying the law’s progress and backtracking on prior commitments made to Sunni forces to secure their support for the new government.
Sunni blocs conditioned the passage of this law during negotiations to form the State Administration Coalition, which included the CF, and Kurdish and Sunni blocs, leading to Al-Sudani's government. Sunni MPs maintain that the government’s program includes enacting the Amnesty Law, canceling security checks in their provinces, and addressing the suspension or abolition of certain entities that have contributed to significant tensions.
I got a text...it said that the dinar, the Iraqi dinar, which is the linchpin of all of the currencies that are going up in value, ...was on the Forex...
[Thursday] morning at 4.19 and since that time, it increased up on the forex to 4.52...and it's probably still going up...
it doesn't mean our rate is going to be there, or even the bank rate is going to be there. It could be higher, and I know it is higher now than that, even at the banks.
The Finance Committee announced on Sunday the vote on the proposed amendment of paragraph 12 of the Federal Budget Law, as stated by the government.
The committee announced earlier today, near the vote on the amendment of Article 12 of the budget related to Kurdistan Region oil, while referring to the most prominent proposals submitted to amend this paragraph.
The head of the committee, Atwan Al-Attwani, said in a speech during a meeting of the committee, according to a statement received by {Al-Furat News} that “the meetings of the committee continue to discuss the amendment of Article 12 of the budget law on Kurdistan Region oil,” noting that “the committee has reached the final stages of completing hosting, and stating many information in preparation for voting on the amendment on this day.”
He added that “it is necessary for there to be a decision from the committee to raise the draft law to a vote,” expressing his hope that “the vote will be agreed on this complementary draft of the 2023 budget.”
He pointed out that “there are a number of committee members who put forward a lot of paragraphs and submitted proposals, and we will put them forward for everyone to be aware of them, but it cannot be added considering that the draft is an amendment and not budget tables,” noting that “the opinion of the committee from the beginning is to proceed with the amendment of the law, but we do not want the items and amendments to be unproductive amendments like previous ones.”
He explained that “the committee added to the paragraphs of the amendment to oblige the parties, whether the Ministry of Finance or the Ministry of Oil Resources, to comply with the outputs of the consulting company,” stressing that “there must be an obligation for both parties.”
Al-Atwani concluded by saying, “The consulting company must have a period of work that may end in 2025, and has not achieved results,” stressing that “we are keen to apply the results during this year to be the rule for 2026.”
Question: "How long IYO will we have to exchange our 3-zero notes before they are rendered non-negotiable?"
Jeff: ...When they phased out the old Saddam Swiss notes and put the new notes into circulation everybody had 90 days to turn in their old Saddam notes and get the new ones. They used to have a 50 note up until 2012. They phased out 50 note and replaced it with the 50,000 note.
When everybody had to turn in their old 50 note they had 90 days as well. My opinion is that we're all going to have 90 days to turn in our notes because that's how long they had historically from two different scenarios to turn them in.
Iraq calls on the world to conduct a comprehensive reform of the financial system and a dialogue on technology governance
The representative of Iraq to the United Nations in New York, Abbas Kazim Obaid, in his capacity as Chairman of the Group of 77 and China, delivered the group’s statement during the session of the United Nations General Assembly in which the Secretary-General reviewed the priorities of his term for the year 2025, in light of the circumstances and challenges facing the international community.
In his statement, the representative of Iraq stressed the complex and interconnected global challenges, including ongoing conflicts, the effects of climate change, poverty, hunger, high debt levels, limited financing for the Sustainable Development Goals, and the growing digital divide. He stressed the need to support developing countries in financing sustainable development through the Fourth Conference on Financing for Development.
He called for a comprehensive reform of the global financial system to address structural inequalities, ensure equitable access to long-term finance, and advance sustainable development efforts.
He also stressed the importance of fully implementing the decisions of the Conference of the Parties on Climate Change, while supporting the Secretary-General’s efforts to achieve the Sustainable Development Goals by 2030.
Obaid also called for a comprehensive international governmental process to address the digital divide, the establishment of an independent scientific team for artificial intelligence, and the launch of a global dialogue on technology governance. link
MZ: I also have some stories to share this morning on the dinar.
MZ: “The Tripartite budget and its final year” they did the budget this way because it includes a mechanism for a “value change”
MZ: I believe we are in the final days before we get the final flip or switch or change of the purchasing power of the dinar
MZ: “Parliamentary finance reveals the objectives of revealing the federal budget” This happened today. I am told they expect the vote or third reading on this tomorrow. I am very optimistic on what is happening in Iraq this weekend and would not surprise me if they raise that value soon.
MZ: “Federal Reserve withdraws from global regulatory climate change group” …..They are throwing in the towel now that Trump is coming…….A number of people are writing their farewells ect….From Federal Reserve , To Janet Yellen, To IRS folks…….many are leaving before the Trump inauguration.
MZ: In my opinion the Federal Reserve will be absorbed into the US Treasury …..
MZ: “Yellen: Debt limit will be hit the day after Trumps inauguration” Reading this today I had an “AHA” moment. Congress had extended the debt limit until Trump got into office. It was supposed to keep things funded until March giving the new administration time to deal with it.
MZ: The Biden admin has spent 30% of the entire budget for 2025 in the last few weeks. They were spending at a record rate. Now the new congress and president Trump on Day 1 (because of overspending) will hit the debt limit. This means they will have to go to emergency dollars and extraordinary measure to keep the lights on. This was sabotage of the US government and the American people. IMO……
MZ: Of course it they enact Nesara – we are in golden shape….
Iraq tells US it looks forward to strengthening cooperation with America under Trump
On Saturday, Foreign Minister Fuad Hussein informed the United States of Iraq's aspiration to enhance bilateral cooperation under the upcoming US administration headed by Donald Trump.
This came during the Foreign Minister's reception of the new Chargé d'Affaires of the US Embassy in Baghdad, Daniel Rubinstein, according to a statement received by Shafaq News Agency.
At the beginning of the meeting, Hussein congratulated Rubinstein on assuming his new duties, and while stressing the depth of Iraqi-American relations, he expressed Iraq's aspiration to enhance bilateral cooperation under the next American administration.
The meeting witnessed in-depth discussions on bilateral relations between the two countries, in addition to reviewing regional conditions, especially the situation in Syria. The two sides also touched on current political developments and the pivotal role played by Western countries, primarily the United States, in the course of events inside Syria, according to the statement.
According to the Iraqi statement, the two parties discussed the outcomes of the Riyadh Conference on Syria, which witnessed the participation of the US Under Secretary of State, and stressed the importance of following up on the recommendations that emerged from the conference.
At the end of the meeting, Hussein stressed the importance of strengthening cooperation between Iraq and the United States, in a way that serves common interests and contributes to achieving regional stability link
MZ: Not a huge amount of news this morning…but I did hear from 2 sources with similar information that made me feel good.
MZ: I had both an Omega (Prosperity Package) contact and a CMKX contact that were both told yesterday by those involved in the process -that is was 72 hours until dollars. They were told this late yesterday afternoon.
MZ: This is pretty exciting because the PP source has not heard anything from the group in over a year. I really like that it came from two different contacts on two different platforms.
Parliamentary Finance to Nina: Parliament will first approve the amendment to the budget law, then its schedules
The Parliamentary Finance Committee confirmed that the Council of Representatives will first approve the draft amendment to the General Budget Law, followed by the approval of the budget schedules later.
Member of the committee, MP Moeen Al-Kazemi, stated to the National Iraqi News Agency / NINA / that "the draft amendment to the General Budget Law relates to resuming oil exports from the Kurdistan Region fields at a cost of $ 16 per barrel instead of $ 6, and this is within the jurisdiction of the Ministry of Oil and the Prime Minister's advisors," noting that "the Ministry of Finance is not aware of the technical details related to this."
He explained that "the Finance Committee sought to mature and clarify the feasibility of the draft amendment to the law to the representatives, in order to pass the amendment to the text of Article 12, Second C of the General Budget Law."
He added,
"The texts of the three-year budget 2023-2024-2025 are completely fixed except for the text that the government submitted an amendment to, and therefore the government decided to wait for the House of Representatives to ratify Article 12, Second C, to enable it to calculate the cost required to extract and transport oil from the fields of the Kurdistan Region," indicating that "the House of Representatives will first ratify the draft amendment to the General Budget Law and then proceed to ratify the budget tables later."
The House of Representatives is scheduled to hold its regular session this afternoon, Sunday, and its agenda includes voting on the draft first amendment to the Federal General Budget Law for the fiscal years 2023-2024-2025 No. 13 of 2023. link
First, it was just one day, then it was three days and then today's article says the Prime Minister spent four days in Britain. It started with meeting of the King of the country and ending with a meeting with the Iraqi community...
Why did they tell you he was going to be there one day then changed it to three days and then ultimately he stayed for four?
I'm on pins and needles because what we're seeing is realtime data, it's no joke. Iraq is effectively going international...
Iraq hasn't been on the Forex market at 1310 in an International capacity. Are they ever going to do that?
I don't think so. When they start mentioning, first time in a long time, coming from the Central Bank of Iraq...telling you exactly what they've done...You're going to see a theme and that theme is, going international. When they mention Forex, I have not seen them talk about this ever before...Take that whole thing very serious because it's powerful...
