An Economic Expert Told Al Furat News: Iraq's Hoarding Of Gold Will Spare It The Risks Of Customs Duties
Time: 2025/04/07 20:08:16 Reading: 210 times {Economic: Al Furat News} Economic expert Basem Jamil Antoine believes the US move to impose tariffs represents a financial and economic coup that will have a direct impact on the global economy, given the United States' economic and military capabilities.
In a statement to Al Furat News Agency, Antoine pointed out the direct impact of these policies on gold prices, which are considered an alternative to the dollar and the euro for hoarding.
Regarding Iraq, he stated that the Iraqi dinar faces challenges in this context, as land and real estate cannot be directly acquired due to time and tax procedures.
He pointed out that the growing global demand for gold will lead to a significant rise in its prices in the coming period, especially as countries shift towards precious metals.
Regarding Iraq, Antoine explained that the country has accumulated significant quantities of gold, placing it third or fourth in the Arab world in terms of gold reserves. LINK
Yesterday was absolutely huge! This was a test signal for the bigger crash later this September, but it's not our money that will be effectuated, but rather that of the deep state.
Did you all catch when President Trump yesterday said currency manipulations and devaluations? Then we went on to say time to "reset the table"! How much more obvious can he make it?
Tomorrow is a very important day for the countries still holding out on the tariffs. Once they capitulate, game over! The QFS is setup in virtually every country and province throughout the world.
Everything is clearly aligning! Buckle up, it looks like we're coming in for a landing!
The largest US trade delegation, representing 60 companies, arrives in Baghdad to enhance economic cooperation
The US Embassy in Baghdad announced on Monday the arrival of a 101-member US trade delegation representing 60 companies from various sectors. The visit aims to strengthen economic and investment relations between the United States and Iraq.
The embassy confirmed in a statement monitored by the Iraq Observer that this visit represents one of the largest US trade missions to Iraq and reflects American companies' interest in expanding opportunities for cooperation and partnerships with their Iraqi counterparts in various fields, most notably energy, infrastructure, technology, and healthcare.
She noted that the delegation's agenda includes meetings with government officials and private sector representatives to discuss investment opportunities and ways to support the business environment in Iraq, which will contribute to job creation and stimulate economic growth link
The rate change is extremely close...It's ridiculously close right now.
It's amazingly close. When the rate does change I will let you know...
Just because they suspended the US dollar and didn't have a currency auction doesn't mean the rate is changing today...or tonight or this weekend.
Relax on that...These are preparation steps. This does not mean the rate is changing tonight or this weekend...Stay grounded and patient. You're very close to your blessing.
Central Bank: We Are Ready To Implement The Banking Sector Reform Plan
Monday, April 7, 2025 13:21 | Economic Number of readings: 202 Baghdad / NINA / The Central Bank of Iraqconfirmed its readiness to implement the banking sector reform plan.
Central Bank Governor Ali Al-Alaq said in a speech at the Banking Sector Reform Conference:
"Investments in research and development in the field of artificial intelligence must be increased." He added: "Digital currencies could reshape the traditional banking system." https://ninanews.com/Website/News/Details?key=1196153
REUTERS releases an article today that says the will BUY US defence, security products to tackle trade gap.
In the same article they state:
"In Monday's statement, Chinh said Vietnam would review issues such as its monetary policy, EXCHANGE RATE, non-tariff barriers and ensuring the correct origin of goods, in line with the concerns aired by Navarro"
First time I really see an official economic site talking about a RATE CHANGE.
FLIP THE SWITCH .... NOW!
Source:https://www.reuters.com/world/asia-pacific/vietnam-says-buy-american-defence-security-products-trump-tariffs-loom-2025-04-08/
Government Advisor: 95 Trillion Dinars Stored Outside the Banking System
Economy 04-05-2025, 1:44 PM Baghdad – INA – Amna Al-Salami Adviser to the Prime Minister, Mazhar Mohammed Salih, confirmed today, Saturday, that the widespread use of digital payment systems provides loans to citizens at lower costs.
He explained that 95 of the 109 trillion dinars are stored outside the banking system. Adviser to the Prime Minister, Mazhar Mohammed Salih, told the Iraqi News Agency (INA):
"The positive steps in activating e-commerce are consistent with one of its objectives, as the government and the Central Bank seek to integrate hoarded funds in households (cash leakage, as it is known) into the banking system, which contributes to strengthening the national economy and achieving financial stability." He pointed out that "the Monetary Authority has previously prepared controls and registration procedures to obtain a license to practice this trade, in a coordinated manner that contributes to regulating the market and enhancing consumer confidence."
He added, "The steps taken by the government and the Central Bank to enhance confidence and and activate e-commerce are consistent with the launch of digital transformation projects.
This has been the case since the Central Bank announced the launch of strategic projects to support digital transformation, including the instant payments project, local cards, and unified payment gateways, all of which aim to enhance financial inclusion and facilitate digital banking operations."
He pointed out that "all measures to address information technology and integrate it into digital payment systems are consistent with the development of the country's digital renaissance, the financial culture of society, and the development of monetary behavior in relation to inherited customs, traditions, and cultures.
Hoarding money at home instead of depositing it in banks remains a prominent economic challenge in Iraq." He explained, "Estimates indicate that approximately 87% of the money supply, or approximately95trillion dinars out of a total of 109trillion dinars, is heldoutside the banking system, preventing a large portion of the national wealthfrom effectively participating in the economy."
He explained that "the more digital payment systems are used, including e-commerce, the more efficient banking activity becomes and the fewer leakages outside of banks.
This gives official and licensed banking units the greatest opportunity to grant more credit or lend to citizens at a lower cost and with greater efficiency, thanks to the often low interest rate." He noted that "the parallel market for usurers, which
deals with funds in circulation or hoarded outside the banking system, is a very dangerous, illegal, and costly market for citizens and the national economy when it comes to credit transactions or lending at very high usurious interest rates, or what is known as the usurers' market.
This is due to the opaque nature of its operations, in addition to the fact that some of its activities conflict with the Anti-Money Laundering Law due to the lack oftransparency in financing, the absence of governance elements, and the accompanying risks of trading and recovery." https://www.ina.iq/231404--95-.html
A trigger switch has been pulled. They are watching rates (public rates) rise on back screens & should be released to the public, for various countries, anytime between tonight & Wednesday. Public reveal phase is imminent.
It will be explained as an attempt to combat tariffs & inflation. Markets will be up & down. Iraq was forced to go.
Talk about oil & minerals coming. This will help markets & the dollar "ground" (?). Stabilize.
Announcement coming. 24-hr period. The transition has begun.
Advisor to the Prime Minister Reveals Plan to Merge Rafidain and Rasheed Banks
Economy Yesterday, 6:26 PM Baghdad – INA Advisor to the Prime Minister and Executive Director of the Reform Management Cell, Amer Al-Adhadh, revealed plans to mergeRafidain and Rasheed Banks.
While addressing the government's achievements in the field of economic reforms, he explained the contents of the "House of Reform" project and its importance to the investment portfolio.
He also outlined the contents of the draft law on public-private partnerships, which aims to enhance the investment environment in Iraq.
Al-Adhadh told Al-Shabaka magazine, as reported by the Iraqi News Agency (INA), in his discussion of the "House of Reform" project, "This project is not merely a government program, but rather a comprehensive roadmap aimed at achieving sustainable development through interconnected objectives,one of which is activating human capital and enhancing national competencies."
He added, "Economic reforms cannot succeed without an investment-attractive legal and regulatory environment, which is what the government is working to achieve through this project."
Regarding cooperation with the World Bank, Al-Adhadh stated, "The World Bank commended the reforms implemented by the Iraqi government,including the "House of Reform" policies that support sustainable development.
Cooperation focuses on supporting financial reforms, providing technical advice, and financial assistance to enhance the stability of the Iraqi economy and improve financial governance systems."
Al-Adhadh also noted that "the government has made significant progress in preparing the draft law on public-private partnerships, which is an essential part of the government's program.
This partnership aims to enhance cooperation between the government and the private sector, particularly in infrastructure, transportation, and energy projects, contributing to stimulating the national economy and achieving sustainable development."
Regarding the restructuring of the banking sector, Al-Adhadh revealed a plan to merge Rafidain and
Rasheed Banks into a single entity with the aim of improving Iraq's credit rating and increasing international confidence in the banking sector.
He noted that an international consulting firm has been commissioned to oversee the merger process, which includes improving financial and administrative performance and developing digital infrastructure.
The Prime Minister's advisor also addressed the issue of economic diversification, stressing that
"the government has achieved a significant increase in non-oil revenues, which is an important achievement within the strategy to diversify sources of income." He noted that "the government is focusing on improving tax administration, developing customs duties, and stimulating investment in non-oil sectors such as industry, agriculture, tourism, and technology, to ensure the sustainability of these revenues."
Al-Adhadh emphasized that "the economic reforms implemented by the government contribute to strengthening the investment environment and achieving sustainable economic growth, ensuring Iraq has a stronger and more diversified financial future." https://www.ina.iq/231484--.html
The Prime Minister, Mohammed Shia Al-Sudani, discussed on Tuesday, with the delegation of JPMorgan, headed by the bank’s deputy director Daniel Zeleko, strengthening cooperation in the financial and banking fields.
The Prime Minister’s Media Office said in a statement received by “Economy News” that “the Sudanese met with a delegation of JPMorgan Bank headed by Deputy Director Daniel Zeleko on the sidelines of the Iraqi banking sector reform conference held in Baghdad.”
During the meeting,
“there was a discussion of enhancing cooperation in the financial and banking fields, and the bank’s participation in the financing of various investment projects, in addition to discussing the mechanisms of securing credits and financial transfers and their access to their beneficiaries in Europe and the United States, which will contribute to improving the services provided to Iraqi traders and importers.”
Al-Sudani stressed the importance of expanding the areas of partnership between Iraqi banks and JPMorgan Bank, pointing out the government’s readiness to provide all forms of support to strengthen this relationship.
For its part, the delegation of JPMorgan Bank expressed “the readiness to increase cooperation with Iraq, by expanding the number of correspondent accounts open to Iraqi banks, and their readiness to finance a number of investment projects directly or through partner financial institutions.”
Intel from Jaby and T: Worldwide Payments on Wednesday
Received via email
Jaby, [Apr 7, 2025 at 2:31 PM]
Dear Asset-Holders, friends and partners.
Just received.
Be careful what you say on the phone starting today.
All Paymasters in the world will be funded today and tomorrow.
Payments on Wednesdays worldwide. Starting tomorrow, there are new communication rules regarding sellers, consultants, and intermediaries:
Ø All calls will be recorded Ø All phone call logs are logged Ø All calls and WhatsApp messages are logged Ø Twitter is monitored Ø Facebook is monitored Ø All social media and forums are monitored Ø Log in for those who don’t know. Ø All devices are connected to federal government departmental systems.
Ø Be careful not to send unnecessary messages or information that goes against the law and morals.
Avoid sharing confidential information with your friends and family.
It is very important to pass this message on today because starting tomorrow, there will be another form of surveillance in the country, surprising but correct.
Pass it on to all your loved ones and friends today.
In this case, it’s good not to doubt because this month 40 Starlinks satellites were launched.
Do you know with absolute certainty their functions?
So… keep your mouth shut on this matter. No mosquito.
Respectfully yours, Global Buyer Team
———————
From T on Telegram
Private Banker:: The Iraqi RV will be on Forex on Monday.
D-1 and I assume D-2, will start Tuesday-Wednesday.
The Global Announcement should take place right after D-1 starts.
Then the Global Redemption Program starts along with the Redemption Program Buyers being given the Green Light to become Liquid and start calling the Redemption Program Sellers!
The Parliamentary Finance Committee stressed the need to reach an understanding with the World Bank and the US Treasury regarding the evaluation of Iraqi banks’ performance, to avoid any “sudden” decisions that could negatively impact the country’s banking sector.
This came in a speech delivered by Finance Committee Chairman Atwan Al-Atwani on Monday during his participation in the Iraq Banking Sector Development Conference, attended by Prime Minister Mohammed Shia Al-Sudani and in cooperation with Oliver Wyman, in Baghdad.
Al-Atwani congratulated the Central Bank of Iraq’s management on the launch of the “Banking Sector Development Project,” noting that it “represents a starting point for a comprehensive reform of the financial and monetary systems, based on solid scientific foundations, and paves the way for achieving sustainable development and economic reform.”
The Chairman of the Finance Committee noted the committee’s commitment to supporting the Central Bank’s efforts to promote sustainable financing concepts, encourage public and private banks to finance economic activities and development projects, and diversify sources of income, thus contributing to reducing the financial deficit in public budgets. He added that “the banking sector is the cornerstone for driving the national economy and combating corruption.”
Al-Atwani emphasized that developing this sector “is a cornerstone of the economic reform project and a pivotal step in the transition to a diversified economy, away from excessive reliance on oil revenues.” Discussing maximizing non-oil revenues, he explained that “the introduction of modern banking systems into the Tax and Customs Administration contributes to improving financial transaction tracking mechanisms, enhances revenue collection efficiency, and reduces tax evasion, in addition to closing informal outlets that drain the state’s resources and weaken its ability to invest and provide services.”
Al-Atwani also emphasized that rebuilding confidence in the banking system and expanding the scope of digital transactions, both domestically and internationally, requires developing the banking sector’s infrastructure and enhancing its cybersecurity. Furthermore, the reform process requires establishing genuine partnerships with international banks and institutions and regulating foreign remittances to ensure compliance with international standards.
The head of the Finance Committee called for “the necessity of formulating a clear understanding with the World Bank and the US Treasury, establishing the principle that the Central Bank of Iraq is the body authorized to evaluate banks’ performance, ensure their compliance, and punish violators, to avoid any sudden decisions that would negatively impact the banking sector.”
Al-Atwani concluded his remarks by emphasizing the need for a comprehensive “reform revolution” beginning with the banking sector, emphasizing that “this requires genuine political will, institutional cooperation, and a strategic vision that goes beyond temporary solutions.” He also called for collective responsibility for reforming the banking sector, “considering it a national priority that touches on national security and financial stability, directly impacts citizens’ livelihoods, achieves social justice, and ensures the future of future generations.”
The United States announced sanctions on a group of Iraqi banks, including Rafidain Bank, for allegedly smuggling US dollars to sanctioned countries, most notably Iran. The US called on the Iraqi government to implement reforms at these banks as soon as possible.
MELANIA HINDS: IRAQI DINAR BREAKING NEWS MUST WATCH
Highlights
Summary
In this video, Melanie Hines shares her insights on the current economic situation in Iraq and updates on the development of new financial systems.
She expresses relief at the decision to keep her house off the market, highlighting the significant support she receives from her community. The video outlines Iraq’s recent completion of a GPS tracking system for over 28,000 fuel tankers, which aims to reduce smuggling and improve transparency in fuel distribution.
Hines discusses the role of various auditing companies in enhancing Iraq’s financial integrity, asserting the importance of a comprehensive auditing system for the Central Bank of Iraq (CBI) and government agencies.
She believes that Iraq is on the brink of a currency revaluation and highlights other key economic developments, such as a new economic city contract and tariffs related to U.S.-Iraq trade. Throughout the video, Melanie provides her analysis of various reports and comments on their implications for Iraq’s economic future.
🌍 Completion of GPS System: Iraq has successfully implemented a GPS tracking system for 28,000 fuel tankers to combat smuggling.
🔒 Auditing for Transparency: Multiple reputable auditing firms are working with the CBI to ensure financial transparency and integrity.
💡
Currency Revaluation Imminent: Hines believes that Iraq is on the verge of a significant currency revaluation.
📈 New Economic City Launch: Iraq is progressing with plans for a new economic city, signaling growth and urban development.
📊 Natural Resource Management: The country is establishing systems to ensure proper management of its oil resources amid pressing economic reforms.
🤝 Global Trade Integration: Iraq has joined international trade systems to facilitate better trade routes, strengthening its role in the Middle East.
🏦 Four-Step Economic Protection Plan: Iraq’s government has outlined a strategic plan to safeguard its economy from potential external pressures, such as U.S. tariffs.
Key Insights
🔍 Technology Integration in Governance: The establishment of a GPS-based tracking system for fuel distribution not only addresses issues of smuggling but also functions as a crucial step towards digitizing and modernizing Iraq’s governance framework. These advancements promote accountability and allow for better oversight of resources, addressing long-standing inefficiencies.
💼 Diverse Auditing Strategies: The involvement of auditors like Ernst & Young and K2 Integrity reflects an unprecedented commitment to financial oversight. By having different firms audit various sectors, Iraq demonstrates transparency and establishes trust with domestic and international stakeholders, essential for attracting investment.
💰 Anticipation of Currency Reform: According to Hines, the completion of audits and technological systems suggests Iraq is preparing for a currency reform. She notes the potential timing, correlating it with the expiration of specific contracts with the U.S., indicating that economic policies and currency values may soon align with fiscal realities on the ground.
🚀 Strategic Urban Development Plans: The recent contract for a ‘new economic city’ highlights Iraq’s aspirations for urbanization and economic diversification. Such urban projects can stimulate job creation and contribute to broader economic stability, moving the country away from heavy reliance on oil and integrating various sectors into the economy.
📉 Impact of International Trade Dynamics: Hines mentions that U.S. tariffs will not significantly affect Iraq’s oil exports, suggesting resilience in Iraq’s economic structure. This insight is critical for understanding how geopolitical factors influence economic policies, particularly in countries like Iraq that are trying to secure a firm footing in global markets.
📈 Improvements in Oil and Gas Output: The mention of Iraq launching a national plan for achieving energy independence showcases a proactive approach to enhancing domestic resource management. This strategy not only aims for self-sufficiency but could also position Iraq as a more influential player in the regional energy market.
👥 Community Engagement and Support: Melanie emphasizes the importance of her community and the support she receives through her channel. This highlights a trend wherein social media and online platforms can foster strong community ties, allowing individuals to share insights and bolster collective understanding of complex issues like economic reform.
In summary, Hines’ video presents a multifaceted view of Iraq’s ongoing economic restructuring, with an emphasis on transparency, modern governance, and strategic planning that could lead to transformative changes in the country’s financial landscape. Her enthusiasm and optimism reflect a larger hope for stability and growth in the region as systems are put in place to revitalize the economy. The insights provided provide viewers with a clearer understanding of not just Iraq’s current condition but also the trajectories of change that may define its future.
A large US trade mission arrives in Iraq to sign several agreements
The US Embassy in Baghdad announced the arrival of a large trade delegation from the United States to Iraq.
A statement from the US Embassy, a copy of which was received by {Euphrates News}, stated that “the American Chamber of Commerce, headed by Steve Lutes, is leading a delegation of 101 members from approximately 60 American companies in the energy, technology, and health sectors to Iraq this week. This is the first trade mission approved by the US Department of Commerce to Iraq and the largest US trade mission to Iraq in the Chamber’s history.”
During the visit, which will extend from April 7 to 9, the delegation will meet with high-ranking Iraqi officials, engage with Iraqi companies, and sign several agreements.
Speaking at a reception honoring the trade mission, U.S. Chargé d’Affaires to Iraq Daniel Rubinstein said, “We are here tonight to focus on one goal: strengthening business partnerships.” The U.S. Chamber of Commerce provides a platform for generating and implementing new ideas aimed at creating business partnerships and policies that influence the thinking of governments and business leaders in both countries. For more than a decade, the Chamber has regularly visited Iraq and hosted Iraqi government delegations in the United States.
During this visit, the American Chamber of Commerce will sign a memorandum of understanding with the Federation of Iraqi Chambers of Commerce to strengthen relations between the American and Iraqi private sectors.
Al Sudani's tone got my attention today. He speaks of radical reform changes to come. It should grab everybody's attention when this man talk with purpose like that.
Like it or not radical change is coming to Iraq. The Development Road Project is going to be a really big deal.
It's not going away...It's front and center. That should have everybody as excited as I am because it's welcoming to see the amount of things we are watching being accomplished that we have never seen before.
ERBIL (Kurdistan 24) – Col. Myles B. Caggins III, spokesperson for the Association of the Petroleum Industry of Kurdistan (APIKUR), emphasized on Monday the urgent need for agreement to resume oil exports from the Kurdistan Region via the Iraq-Turkey pipeline, which has been shut down since March 2023.
Speaking to Kurdistan 24, Caggins noted, “We are reporting our annual production numbers through quarterly shareholders’ meetings and earnings reports.”
However, he warned that current market conditions are unsustainable. “Oil produced in Iraqi Kurdistan is currently sold locally at around $30 per barrel—less than half the $65 to $70 per barrel it could earn on the international market,” Caggins explained. “Selling oil locally does not maximize revenue for our companies or contribute to Iraq’s overall economic prosperity.”
Before the halt in exports, the Kurdistan Region was sending over 400,000 barrels of oil daily through the Turkish port of Ceyhan. With the pipeline idle, local refineries are the only buyers, converting crude into domestic fuels like gasoline, diesel, and kerosene. While necessary, Caggins emphasized that local demand cannot replace the benefits of global sales.
Caggins said APIKUR member companies remain open to dialogue and are eager to restart exports.
“We are ready to meet with both the Kurdistan Regional Government (KRG) and the federal government of Iraq,” he stated. “Several meetings have already taken place, and we welcome the Ministry of Oil’s call for another.”
He stressed that future exports must be backed by clear, enforceable agreements. “We need clarity on how we will be paid. These are complex financial transactions, but not new to the federal government, which has long managed similar arrangements in federal Iraq.”
One ongoing challenge is the appointment of an international consultant to assess production and transportation costs, as stipulated in Article 12 of Iraq’s budget amendment. “APIKUR member companies must be involved in reviewing and approving the consultant’s scope of work,” Caggins noted. “This is a basic expectation for any business subject to an external financial evaluation.”
He also reiterated the need for equal treatment of companies operating in the Kurdistan Region. “Our contracts with the KRG are legal, recognized by London courts of arbitration, and have been upheld by Iraqi courts,” Caggins said. “These agreements must be respected, and production-sharing terms clearly defined.”
Caggins praised efforts by both Kurdistan Region Prime Minister Masrour Barzani and Iraqi Prime Minister Mohammed Shia’ al-Sudani to resolve the issue. “Prime Minister Barzani has actively engaged leaders in Baghdad, Ankara, and Washington. It’s clear that reopening the pipeline is a top economic priority,” he said.
Despite official Iraqi statements indicating that exports would resume imminently, no oil has yet flowed through the pipeline. “For us, written agreements must come first. We cannot risk sending oil without knowing when and how we’ll be paid,” Caggins said.
APIKUR continues to push for constructive dialogue and meaningful outcomes. “We’ve made our position clear: Our companies are ready. It’s time for action,” he concluded.
MILITIAMAN : Merger between Iraq and Rashid and Rafidain Bank, Investment Fund, Gateway to Development
Highlights
Summary
In this video, the speaker provides an insightful analysis of recent developments in Iraq’s economy, particularly in light of new U.S. policies affecting international trade. The focus shifts towards Iraq’s strategic initiatives for economic reform and the eventual shift towards a more diverse economic structure away from oil dependency.
The speaker emphasizes the importance of radical reforms proposed by influential economic advisers, highlighting a new world economic order that sees Iraq seeking to strengthen its partnerships with U.S. commerce while promoting digital transformation within its banking system.
The agenda includes efforts to bring vast amounts of currency held outside the formal banking system back into Iraq’s economy, enhance financial literacy among its citizens, and execute public-private partnerships.
The intertwined focus on agriculture, technology, and banking reforms indicates a substantial shift towards a diverse and sustainable economic model that the speaker believes is crucial for Iraq’s growth.
📉 U.S. Trade Policies: The United States has enacted measures that are expected to profoundly impact international trade and the global economy, leading to increased tariffs that influence Iraq.
🌐 New Economic System: Emphasis on a developing new world economic order, with America, China, and other players enhancing cooperative ties along the Silk Road for shared economic growth.
🇮🇶 Radical Economic Reforms: Advisers in Iraq propose comprehensive reforms aimed at reducing oil dependency, improving agricultural and industrial sectors, and enhancing consumer protections.
🔄 Digital Transformation: The Central Bank of Iraq is prioritizing digital banking innovations, including e-commerce and payment systems, to integrate wealth into the banking sector and improve financial stability.
💰 Investment Encouragement: Discussions around introducing investment funds to attract wealth held outside formal banking systems are anticipated to strengthen Iraq’s economy and support development projects.
🤝 U.S.-Iraq Relations: A high-level trade delegation from the U.S. is expected to discuss economic cooperation, showcasing increased American interest and confidence in Iraq’s investment landscape.
👥 Public-Private Partnerships: Plans to merge state banks and enhance collaboration between government and private sectors indicate an ongoing shift to a more modern, competitive economy.
Key Insights
📊 Radical Reform Necessity: The call for comprehensive economic reform by advisers underscores the urgency to shift away from oil dependency. Emphasizing the importance of local resources and fostering private-sector growth suggests an acknowledgment that a singular reliance on oil is unsustainable. This pivot could lead Iraq to adopt strategies fostering industrial diversity, thus enabling a more stable economic infrastructure.
🌍
Silk Road and Global Integration: The anticipated role of Iraq in the broader Silk Road initiative reveals its strategic geographic location, implying that its participation is not just about regional benefits but global economic interconnectivity. This perspective shifts Iraq from being a passive player to an active contributor to the international trade ecosystem.
📈 Investment Fund Potential: With vast amounts of money stored outside the banking system, the proposal to create investment funds is a strategic approach to mobilize these resources. Efficiently channeling these funds into developmental sectors—such as infrastructure and technology—would amplify economic growth and address issues of wealth concentration and stagnation.
💡 Digital Banking Evolution: The focus on implementing advanced technological solutions within the banking system highlights Iraq’s commitment to integrating modernization in financial practices. Digital currencies and payment systems not only aim to enhance operational efficiency but also strive to establish transparency and trust within the monetary framework, combating historical tendencies of currency hoarding.
📉 Tariff Implications on Iraq: Sudani’s response to the U.S. customs tariff increase indicates an acute awareness of interdependence in trade relationships. This situation underscores the necessity for Iraq to refine its policies and negotiation tactics to foster balanced trade exchanges that protect its economic interests against sudden shifts in U.S. policy.
🔑 Public-Private Cooperation Framework: The contemplated merger of major banks aligns with global banking trends aimed at increasing efficiencies, improving credit ratings, and fostering investment attractiveness. The government’s ongoing collaboration with international consulting firms assures that strategic reforms are being operated within globally accepted standards.
👩🎓 Financial Literacy Initiatives: Iraq’s initiatives to better educate its citizens about financial systems, including currency value and banking practices, represent an ideological commitment to enhancing economic participation. Educating younger populations, who have minimal experience with currencies, is vital for creating a financially savvy citizenry that can navigate the evolving economic landscape effectively.
Conclusion
The video presents a multi-faceted overview of Iraq’s current economic landscape, highlighting ongoing reforms and external influences that shape its trajectory. The insights and highlights extracted from the discussion reveal a nation poised for significant transformation. By implementing radical reforms, enhancing digital infrastructure, and actively engaging international partners, Iraq stands at the crossroads of potentially remarkable economic development. The government’s focus on integrating currency held outside of the banking system and targeting investment opportunities indicates a strategic path toward stability, growth, and sustainability. As the landscape evolves, continued discourse and careful execution of these strategies will be crucial to Iraq’s integration into the global economy.
