Tuesday, May 27, 2025
ERBIL INTERNATIONAL FAIR: A VITAL PLATFORM FOR ATTRACTING INVESTORS
ERBIL INTERNATIONAL FAIR: A VITAL PLATFORM FOR ATTRACTING INVESTORS
The 15th Erbil International Construction, Electricity, and Energy Exhibition is a key meeting point for investors and owners of industrial and commercial companies from inside and outside Iraq, reflecting the vitality of the industrial and commercial sector in the region and the country as a whole.
The exhibition, which will run for several days, features more than 250 local, Arab, and foreign companies specializing in construction, equipment, and building materials, providing a great opportunity to exchange expertise and establish new partnerships that enhance investment opportunities and economic development.
(What yet another investors fair?)
STATUS OF THE RV , PART. 3 BY MNT GOAT
STATUS OF THE RV , PART. 3
RECONSTRUCTION AND DEVELOPMENT:
😊Next we read of yet more economic growth and development progress being made in Iraq in the article titled “IRAQ SIGNS A MEMORANDUM OF UNDERSTANDING TO DEVELOP PART OF THE AL-RUFAYL ECONOMIC CITY IN BAGHDAD.
Prime Minister Mohammed Shia al-Sudani sponsored the signing of a memorandum of understanding today, Sunday, regarding the development of a portion of the Al-Rufayl Economic City in Baghdad. Why is this important?
It is telling us that Iraq is moving ahead and these cities are becoming a reality and not just talk. These integrated cities will bring the much needed services, schools, hotels, and other service facilities to Iraq.
But I bring you this article today, however this is just one of many articles in the recent telling us of such projects throughout Iraq. Iraq is not the Iraq is was 20 years ago and 10 years from now will be even nicer and greater.
There is yet more on this theme of development:
😊In the article titled “THE GOVERNOR OF THE CENTRAL BANK RECEIVES A DELEGATION FROM THE EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT (EBRD)” His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the European Bank for Reconstruction and Development (EBRD) in Baghdad.
The meeting discussed the measures required to commence their work in Iraq next September, following the completion of Iraq’s accession procedures to the European Union bank.
For its part, the European Bank delegation expressed its readiness to provide technical support and financing for the restoration and modernization of infrastructure, the transition to a green economy, and supporting the private sector to play its role in the growth of the Iraqi economy. WOW!
😊You might want to watch the short video in the Articles Section titled “Returning to BAGHDAD after 15 years!! IRAQ is not what you think?” It is an eye opener but remember this video is also a year old.
😊😊You might also want to read a recent article titled “BAGHDAD PULSE BRINGS LIFE BACK TO THE CAPITAL’S STREETS… A NEW PROMISE OF LIFE. ” It is found towards the end of the Articles Section in today’s news.
TEHRAN TO WASHINGTON: IF THE TRIGGER MECHANISM IS ACTIVATED, THE RESPONSE WILL BE HARSH.
TEHRAN TO WASHINGTON: IF THE TRIGGER MECHANISM IS ACTIVATED, THE RESPONSE WILL BE HARSH.
Iran has issued an explicit warning regarding the activation of the nuclear agreement’s “snapback mechanism,” stressing that any such move will be met with a firm response.
This came in remarks made by Iranian Foreign Minister Abbas Araqchi during a meeting with the Iranian Parliament’s National Security and Foreign Policy Committee.
Araghchi pointed out that uranium enrichment inside Iran is an irreversible “red line,” emphasizing that Tehran will not negotiate under threat or pressure, and that Iranian diplomacy operates based on an independent vision that is not subject to political blackmail or temptations. He expressed his country’s willingness to cooperate in establishing a regional enrichment center, but stressed that enrichment within Iranian territory is “non-negotiable.”
Araghchi also held Israel partly responsible for the escalation, warning that any war that might break out in the region would not only harm one party, but would have repercussions that would extend to all countries in the region. For their part, several members of the parliamentary committee expressed their categorical rejection of any negotiations with the United States, noting that it continues to impose sanctions even while the talks are ongoing, which they described as a “dishonest approach.”
STATUS OF THE RV , PART. 2 BY MNT GOAT: How far must the reforms go in order to move ahead with this project?
STATUS OF THE RV , PART. 2
😊In the Articles Section I also am showing you once again an article from 2024. It is titled “AL-ALAQ: WE ARE CONSTANTLY REVIEWING THE DELETION OF ZEROS FROM THE DINAR, AND THERE ARE NO RESTRICTIONS ON OUR BALANCES IN AMERICA”.
Now why would the CBI tell us this if they were not still planning the project and thus are telling us they could do it anytime such as using the words “constantly reviewing”.
Again I keep asking my self just how far must the reforms go in order to move ahead with this project?
Remember that back in 2012, when under Dr Shabibi they did not have all these reforms in place, yet he was given the green light to go ahead.
Now Iraq is in a much, much better banking and financial position than in 2012. So, using our common sense we can see how close we are to this event.
I encourage everyone to take the time go re-read this article from 2024. To know where we are going we must remember what they say in the past. The full article is in the Articles Section.
In the article it talks about Iraq’s repayment of all its debts to the International Monetary Fund, accumulated over the years.
WOW! WOW! WOW! Why do I say this? This repayment will a positive impact in the long term by enhancing credit and improving financial sustainability, in addition to its repercussions on the country’s economic situation. I guess the IMF economic hitman is not having his way with Iraq…lol..lol. .
By repayment of these loans it will improve Iraq’s economic confidence and credit rating and obtain financing on better terms in the future. It will also achieve greater independence for Iraqi economic sovereignty, making the country less vulnerable to external pressures and interference in its economic policies.
In an article titled “THREE REASONS BEHIND IT… AL-SUDANI’S ADVISOR TO RUDAW: ABOUT 90% OF IRAQ’S MONETARY MASS IS HOARDED OUTSIDE BANKS.“.
You can go read the article for your self but I will add my commentary, which is not that far off from the TRUTH. Iraq even witnessed special banking centers set up specifically to collect these hoards of cash. it was NOT successful. Good try but no cigar…lol..lol..lol..
So why is there still so much of the monetary mass outside the banking system?
It is really just a matter of trusting the banks. I think not. What I firmly believe is that the average Iraqi citizen is not stupid. That because they lost so much value in their dinar, when they introduced the large three zero notes in 2003.
Many millionaires became poor overnight. They lost a fortune. They are holding back and are now waiting for a new rate to regain or even perhaps increase their wealth they had before the 2003 war and embargo years of (1990-2003).
I am convinced that the only way they are going to retrieve all this hoarded money is to bring out the second revalued rate to the CBI and then make the dinar equal to the dollar if not just over it.
This will bring in a good percentage of the cash but some will still hold out for the later reinstatement. So, if I believe this, don’t you also think that Ali Al-Alaq also knows this? is there something else he is going to try?
Mazhar Mohammed Saleh, economic advisor to Iraqi Prime Minister Mohammed Shia al-Sudani, believes that approximately 90% of Iraq’s monetary mass is outside the banking sector and hoarded in homes.
FIFTH ROUND OF US-IRAN TALKS SET FOR FRIDAY
FIFTH ROUND OF US-IRAN TALKS SET FOR FRIDAY
On Wednesday, Oman’s Foreign Minister Badr Albusaidi announced that the fifth round of indirect talks between the United States and Iran will be held in Rome on May 23.
Albusaidi confirmed the date in a post on X, marking the first official detail after weeks of quiet engagement in Muscat and Rome.
His statement followed remarks by Iranian Deputy Foreign Minister Abbas Araghchi, who said Tehran had yet to finalize plans for the upcoming meeting.
Despite continued indirect contact, both sides have shown little indication of tangible progress. Earlier, Iran’s Supreme Leader Ali Khamenei dismissed the possibility of a breakthrough with Washington on either the nuclear or missile tracks.
Analysts view Khamenei’s stance as a sign of entrenched resistance within Iran’s leadership, while Western diplomats caution that without flexibility, the window for renewed engagement may soon close.
Just in: UPDATE from the Friday negotiations talks.
STATUS OF THE RV , part. 1 by MNT GOAT
STATUS OF THE RV
I first want to hope that everyone in the USA had a nice memorial holiday. There are sacred and loving elements when we pray over those we loved that are now gone from this earth. This holiday is set aside for much more than just BBQs, picnics and the beginning of the summer season drunkenness on the beach.
In Germany where I now live, it is called Volkstrauertag and is a commemoration day in Germany two Sundays before the first day of Advent. It commemorates members of the armed forces of all nations and civilians who died in armed conflicts, to include victims of violent oppression. This national day of mourning is not a public holiday, it is categorized as a silent day (stiller Tag) in most of Germany, especially in the Bavaria region.
Let’s get on with today’s news. ….
The news is just pouring out of Iraq. There is so much news it will be a challenge for me to cover all of it and give it the justice it deserves. You know I do try to make the Newsletter short and concise.
I know this may be hard to believe. But how can anyone really give this revaluation and reset events justice unless you inform the readers the FACTS. In doing this there is news that must be heard for you to understand just where Iraq is at this time.
With respect to the “reset” I will use the analogy of a house burning. Why would you order brand new furniture to put into a burning house. Yes, the furniture is nice, but it won’t last long and so what good is it going to do.
Do you see the point I am trying to make as to why Iraq and other countries must first prepare for this event by leveling out the playing field for these currencies. There has been too much manipulation and corruption already and we see what it is doing to the global economy.
The leveling of trade deals and tariffs, then solving the immigration issue that we see from the U.S. and other countries is only part of the process and we must pay more attention to it. It holds the key. We also just witnessed summit after summit in Iraq. What does this all say to us? What is the meaning of all this work?
So, let me begin by saying we are inching closer and closer to the initiation of the Project to Delete the Zeros. Remember that I explained there is a step-by-step process to get to the reinstatement.
The parallel market had to be broken first and now we await the Central Bank of Iraq (CBI) to make the second round of revaluing the dinar.
Will they have to hold this new rate for 90 days and thus we will probably not see the reinstatement until January 2026 (the best time the CBI told us to do any significant rate change) or will the IMF bypass all these guidelines and move ahead.
They have given indications we will not have to wait until 2026.
What will the new rate of the dinar most likey be like when it does come out?
To answer this question just listen to what the CBI has been telling us. They are trying to bring back the Iraqi dinar to a rate of something like in the 1980’s. So what was the rate back then?
😊I strongly believe that the CBI has broken the proverbial back of the camel, yes, the back of the parallel market. I can say this because it is evidenced in an article titled “THE DOLLAR’S DECLINE IS IN THE INTEREST OF CITIZENS AND STRENGTHENS THE PURCHASING POWER OF THE DINAR.”
In the section of the article called “STABILIZATION OF THE SITUATION” Hamid Abu Firas, owner of a money exchange company, explained to Al-Masry that “this fluctuation in the exchange rate cannot be called a fall in the dollar price, but rather an increase in the value of the Iraqi dinar against other currencies. Folks this statement by Firas is a “WOW!” statement. We are hearing this from a money exchanger. These are the people who want the dollar to rise not decline and so this is a very important truth he had to now admit.
The Weaker Position"... Expert: Iraq Faces Economic And Energy Challenges Until 2028
The Weaker Position"... Expert: Iraq Faces Economic And Energy Challenges Until 2028
Time: 2025/05/25 Read: 1,650 times {Economic: Al Furat News} Oil expert Furat al-Moussawi warned that Iraq's economic and energy challenges will continue until 2028, attributing this to the country's
near-total reliance on a rentier economy and the
lack of radical strategic solutions to date.
During his appearance on the program "Free Talk" on Al Furat TV, Al-Moussawi said,
"Iraq still suffers from a single-source rentier economy that is out of step with global market developments, and this has caused significant harm to the national economy."
He pointed out that "all current projects rely on oil revenues without any real diversification in the productive sectors."
He added, "The country is currently exporting approximately 3.4 million barrels per day, 200,000 barrels more than the limit permitted under the OPEC agreement.
This has alarmed the organization and prompted some countries, led by Saudi Arabia,
to seek to reclaim their market share."
Al-Moussawi pointed out that "the price of a barrel of oil approved in the three-year budget is $70,
which poses a major challenge in light of market fluctuations,
while the budget will not regain balance unless the price of a barrel reaches at least $55."
He emphasized that "Iraq does not yet have a sovereign wealth fund, which increases the fragility of its financial situation."
In the energy sector, Al-Moussawi explained that
"gas investment is still contingent on increasing oil production,
which limits development potential."
He added that "the Karbala refinery has not yet been completed, as has an investment project in Al-Faw, at a time when the country does not have enough refineries to qualify it for regional competition."
He continued, "The only clear project currently is the agreement with Total, Qatar Energy, and Basra Oil, which includes four strategic projects, including
exploiting seawater for oil fields,
producing the first 100 megawatts of solar energy, and
investing in four gas fields."
He pointed out that "the government realizes that the current strategy is ineffective, as
evidenced by the lack of effective investments and radical solutions to the energy crisis,"
warning of "the difficulty of achieving gas self-sufficiency before 2028."
Al-Moussawi emphasized that "geopolitical turmoil, including the Russia-Ukraine war and sanctions on Iran and other countries, has contributed to oil price volatility, prompting OPEC to emphasize its study of market developments before making any decision to increase production."
The oil expert concluded by saying, "Iraq remains in the weakest position among oil-producing countries due to its complete dependence on oil revenues, lacking any real tools to ensure long-term economic stability."
https://alforatnews.iq/news/الموقف-الأضعف-خبير-العراق-يواجه-تحديات-اقتصادية-وفي-الطاقة-حتى-2028
MNT GOAT : "THE DOLLAR'S DECLINE IS IN THE INTEREST OF CITIZENS AND STRENGTHENS THE PURCHASING POWER OF THE DINAR."
MNT GOAT
"THE DOLLAR'S DECLINE IS IN THE INTEREST OF CITIZENS AND STRENGTHENS THE PURCHASING POWER OF THE DINAR."
"Perhaps this decline in the dollar price is a result of the stability of the political, security and social situations in the country, and without a doubt all of this has a positive impact on the exchange rate."
WOW! "Hamid Abu Firas, owner of a money exchange company, explained to Al-Masry that this fluctuation in the exchange rate cannot be called a fall in the dollar price, but rather an increase in the value of the Iraqi dinar against other currencies."
WOW!
GOVERNMENT PLANS "Government agencies previously indicated that the sustained improvement in the
dinar's exchange rate against the dollar depended on two key factors." WOW!
Let's talks more about this article in today's Newslettter.
dada..........Choo-Choo...........
Their words not mine.....
Tuesday Coffee with MarkZ. 05/27/2025
Tuesday Coffee with MarkZ. 05/27/2025
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Morning and a great and wonderful Tuesday to you all
Member: Mark, you said yesterday that things have been Painfully quiet! Anything change?
MZ: Its still quiet on the bond side. I’m not to surprised because the business day just started. Last week they were expecting payments this week.
MZ: Some bankers are excited about overnight tonight….but I don’t think they are right. I have been hearing for some time that the 27th and 28th will be big days. But no one knows the exact date.
Member: Remember when you used to say a nothing burger, I am now hating to hear the bond side is still quiet. I think we need a new catchphrase for ain’t nothing happening lol
Member: I am losing faith and hope. I know Iraq will RV (revalue) but after that-any real changes in the world? I don’t trust the white hats anymore
Member: just because you're not hearing anything doesn't mean nothing happening
MZ: Emotional Exhaustion is something we all have and the White hats need to be cognitive of. They keep saying for us to trust the plan…..but the people are just tired.
Member: According to Trump we were supposed to start celebrating on Memorial Day? Still waiting to celebrate?
Member: White Hats-if you exist-we need a financial reprieve, please
Member: At this point it's perfectly reasonable to question just what is going on. We've been more than patient. Could you imagine being a bank employee at this point - utter madness.
MZ: Can you imagine what the bank employees are feeling at this point? I am glad you guys are questioning. I think it is healthy that we question.
Member: I’m feeling like it’s all a make believe dream even tho I prayed before investing and was urged to invest. Still it’s a mess as far as yes it is no it isn’t.
Member: I feel the same way. been a bunch of let downs. I feel we are at the point that whoever is awake is awake and the sleepers will continue to sleep. it's time to bring everything to the front
Member: No wonder our family members Dont believe in the RV ! - No more talk Time for massive action ! Boy has cried wolf to many time's
Member: would like to start seeing perp walks. that would excite me
Member: There are a lot of things and changes happening behind the scenes
Member: 250 year celebration parade on June 14….also Trumps birthday
Member: July 14 is the date that iraqi is going fully digital. And hopefully we have passed stablecoin registration by then.
Member: July 1st is supposedly the day Basel 3 laws go into effect with all banks worldwide.
Member: There's a lot of news out there that looks like June could be our month, if not sooner.
Member: A week ago I called the local 5th third bank. Asked if I could order currency. She then asked which currency . I told her Iraq dinar, Vietnamese Dong, was placed on hold. She came back to say unavailable.
Member: Mark, do you think all currencies will still go at the same time?
MZ: I do. That is what makes the most financial sense
Member: Prime Minister Mohammed Shia al-Sudani chaired a meeting on Monday of the Supreme Committee tasked with re-evaluating and restructuring the boards of directors of government banks.
MZ: “Board of Central Bank of Iraq to be restructured “ They are re-assesing and re-structuring the board of directors at the CBI. They are going to have a complete overhaul . a global reset and changing the rate of the dinar is a perfect time for this.
Member: Representative Raed Al-Maliki confirmed, Monday, that the Council of Rep.s is preparing to hold extraordinary sessions with the aim of passing some important laws.
MZ: there is great progress going on in Iraq.
MZ: “Customs is in the process of recovering more than 17 billion dinars from violating companies, projects and factories”
MZ: “ US Secretary of State: Kurdish autonomy and prosperity are at the center of our policy towards Iraq: concerned about the influence of Iran and militias”
MZ: “White reveals: US law lists Maliki, Amiri and Zaida on terrorist lists” Nouri al Maliki is very tight with Iran. He has also been a thorn in the side of the reset for over a decade. Maybe they are finally making their final moves.
Member: About time he was listed as a terrorist…..
MZ: “Dollar continues to fall in Baghdad” I have been told that once the black market reaches the same rate as the free market…they will have a rate change.
Member: just watch for the 1400 black market rate to get closer to the 1310 CBI rate- that's what we want
Member: Last night Frank26 said the key number is 1390
Member: I wonder if the stock market is still to crash before the RV? That way the big banks fall and then will be propped up by the RV???
Member: I think after all said and done and we are past the finish line I think the word SOON should be removed from the English language….just sayin!
Member: no matter how long you have waiting for this, the last few days before it goes will feel like the longest
Member: I believe we are very close to the reset go signal
Member: All we can do is hang in there…….dont give up everyone.
NADER FROM MID EAST: Passing the budget a couple of days
NADER FROM MID EAST: Passing the budget a couple of days
Summary
The Iraqi government is expected to soon submit the 2025 budget tables to the House of Representatives, although no official announcement has yet been made. Indications from government and parliamentary circles suggest that technical preparations and discussions are underway.
The parliamentary finance committee expressed confidence that the budget tables for the current year could be approved within the next few days,
contingent on their submission shortly after the legislative recess ends.
Committee member Moen al-Cadimi emphasized that once the government sends the budget tables, the parliament is obligated to convene sessions until the tables are voted on.
However, details regarding the spending items and financial allocations within the tables remain unknown at this stage.
Notably, Iraq approved a three-year budget covering 2023, 2024, and 2025—a pioneering approach since 2003—aimed at promoting financial planning stability and smoother implementation of medium-term projects. Despite this, the year-by-year execution mechanism, which requires detailed annual tables outlining financial distributions by ministries and governorates, has been delayed specifically for the 2025 budget. This delay violates established deadlines and impedes the progress of infrastructure projects and service plans that depend on the tables to guide their financial and developmental strategies. This issue is increasingly critical as the second half of the fiscal year approaches, leaving governorates without clarity about available funding.
- 🏛️ Iraqi government preparing to submit 2025 budget tables to Parliament soon.
- 📅 Parliamentary finance committee optimistic about budget approval within days.
- 🔍 Details of 2025 spending allocations remain undisclosed.
- 📊 Iraq adopted a three-year budget (2023-2025) to enhance financial stability.
- ⏳ Delay in submitting 2025 budget tables breaches deadlines.
- 🏗️ Budget delay hampers infrastructure and service project implementation.
- 📉 Governorates face uncertainty in financial planning for second half of fiscal year.
Key Insights
🕒 Urgency of Budget Submission: The looming submission deadline underscores the critical timing for Iraq’s budgetary process. Delays not only violate parliamentary deadlines but also stall essential government functions, highlighting the importance of timely fiscal governance. Effective budget submission is a prerequisite for parliamentary approval and subsequent fund disbursement, impacting nationwide projects.
🏛️ Role of Parliament in Budget Oversight: The parliamentary finance committee’s readiness to convene sessions once the budget tables are received illustrates the legislative body’s active role in ensuring government accountability. This dynamic underscores the balance of power in the budgetary process and the necessity of transparent government communication.
🔄 Transition to Multi-Year Budgeting: Iraq’s three-year budget for 2023-2025 represents a strategic shift towards medium-term financial planning. This approach aims to improve project implementation consistency, reduce annual budgeting volatility, and provide a structured outlook, which is crucial in a country prone to economic and political instability.
🔍 Importance of Detailed Budget Tables: While the three-year framework sets the broad parameters, the annual budget tables are essential for operationalizing the budget. They break down expenditures and revenues by ministry and governorate, which are vital for aligning local and sectoral plans with available resources. The absence of these details creates uncertainty at all administrative levels.
🚧 Impact on Infrastructure Development: The delay in submitting the detailed budget tables directly hinders the progress of infrastructure and service projects. These projects often depend on clear, reliable funding timelines to plan and execute operations effectively. The delay threatens to slow economic development and service delivery, especially in underserved regions.
⚖️ Financial Planning Challenges for Governorates: Without clarity on budget allocations, governorates face difficulties in crafting their financial and developmental plans. This funding ambiguity could exacerbate regional disparities and undermine efforts to address local needs, weakening the broader national development agenda.
📉 Risks of Fiscal Uncertainty: As the second half of the fiscal year approaches, the ongoing delay in the budget process fosters an environment of financial uncertainty. This may affect not only public investment but also discourage private sector participation, with broader implications for economic growth and stability.
In conclusion, while Iraq’s adoption of a three-year budget framework is a significant step forward, the pending submission and approval of the 2025 budget tables is critical to translating medium-term planning into actionable results. Addressing this delay is vital to ensuring continued infrastructure development, service provision, and effective governance in the months ahead.
Advisor To The Prime Minister: Providing Small Loans Provides Employment Opportunities Of No Less Than 60%
Advisor To The Prime Minister: Providing Small Loans Provides Employment Opportunities Of No Less Than 60%
Economy May 23, 2025, 11:39 Baghdad - INA - Amna Al-Salami Advisor to the Prime Minister, Mazhar Mohammed Salih, confirmed today, Friday, that providing small loans absorbs and provides employment opportunities of no less than 60%.
He explained that the loans expand the activity of small businesses and increase their contribution to the country's gross domestic product.
Advisor to the Prime Minister, Mazhar Mohammed Salih, told the Iraqi News Agency (INA):
"Within the framework of administrative reform and combating bureaucracy, which are principles of the government's approach, the factor of
simplifying procedures is the first priority in maximizing resource management and economic activity to achieve promising sustainable development in accordance with our country's development goals." He added,
"Prime Minister Mohammed Shia al-Sudani's directive to simplify microfinance grants undoubtedly carries significant benefits at both the individual and economic levels, as
many microfinance programs target marginalized or emerging groups, such as women and housewives, contributing to their integration into the economy." Saleh explained that
"these loans are highly effective financial levers for employment and mobilizing labor market actors, as
they facilitate the start-up of private projects for young people and skilled craftsmen and women, opening the door to entrepreneurship.
"
He noted that they "help generate a stable source of income for individuals and their families, and reduce poverty and unemployment rates by empowering individuals economically.
Therefore, these microfinance loans are a cornerstone of the financial inclusion policy and one of its goals of eliminating unemployment and achieving development and income equality as much as possible."
He explained that "loans
play a significant role in employment policy and
affect the balance of the labor market, by
absorbing and providing employment opportunities that constitute no less than 60% of available job opportunities, not to mention their role in
raising growth rates in the gross domestic product," noting that
"they play a role in expanding the activity of small enterprises, which increases their contribution to the country's gross domestic product." https://www.ina.iq/234862--60.html
JON DOWLING UPDATE
JON DOWLING
The dollar is getting crushed, now at 98.75.
The 10 year is also down significantly.
Gold and silver hanging in there.
This is positive for the RV, I would say, and should be a tailwind for the stock market if it holds.
Joint Statement Of The Central Bank Of Iraq And The Central Bank Of Tunisia
Joint Statement Of The Central Bank Of Iraq And The Central Bank Of Tunisia
May 25, 2025 In the context of strengthening bilateral relations and consolidating cooperation between the Republic of Iraq and the Republic of Tunisia,
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq,
met in the Iraqi capital, Baghdad,with His Excellency the Governor of the Central Bank of Tunisia, Mr. Fathi Zuhair Al-Nouri, on the sidelines of the conference:
“Iraq’s National Strategy for Financial Inclusion 2025-2029: Vision and Diagnosis,”
organized by the Central Bank of Iraq.
During the meeting, a memorandum of cooperation and coordination was signed between the Central Bank of Iraq and the Central Bank of Tunisia,
expressing both sides' commitment to
developing joint frameworks and
consolidating the principles of banking integration,
in light of the development of economic relations between the two brotherly countries.
The memorandum stipulates enhancing cooperation in several areas, most notably:
• Banking supervision and risk management in line with international standards.
• Enhancing and expanding the use of electronic payment systems with the aim of supporting financial inclusion.
• Supervising payment systems and exchanging expertise on developing their technical infrastructure.
• Exchange of information and expertise in the areas of financial innovation, cybersecurity, and combating money laundering and terrorist financing.
This visit provided an opportunity for both parties to discuss financial issues of mutual interest and explore opportunities for joint cooperation in developing the banking sector's infrastructure,
particularly with regard to modernizing and developing electronic payment systems and financial services.
This reflects both sides' commitment to
strengthening channels of dialogue and
technical and regulatory cooperation with their counterparts
in the region, the Arab world, and internationally.
Through this partnership, the two sides affirmed their continued efforts to
keep pace with developments in international banking and
build strategic cooperative relations that contribute to
achieving financial stability and
supporting economic growth between the two brotherly countries.
https://cbi.iq/news/view/2900
TIDBIT FROM SANDY INGRAM
Sandy Ingram
Development Road Project...$17 billion project is an ongoing infrastructure development connecting Asia with Europe by establishing a network of railways, roads, ports and cities.
Iraq will be changed by the DRP in 3 major ways:
1. Diversification of Revenue beyond oil... 2. Job creation...this employment surge will increase household incomes and stimulate domestic consumption, all of which point to a higher IQD value.
3. Transportation infrastructure enhancement will reduce shipping times between Asia and Europe making Iraq a competitive alternative to traditional routes like the Suez Canal .
Here's the 3 ways the Development Road Project will increase the IQD's value.
1. Higher fees from transit fees and trade will help to increase Iraq's foreign currency reserves. This will provide a substantial foundation for the IQD.
2. Economic diversification and infrastructure improvements can attract foreign investments increasing demand for the IQD and potentially leading to currency appreciation.
3. A more balanced economy with multiple revenue streams can stabilize prices, contributing to a stronger and more stable currency.
It will also satisfy the IMF's recommendations for diversified revenue for a stronger Iraqi economy.
No Seriousness In Limiting The Acquisition Of Dollar Remittances." Parliamentary Action Against The National Bank.
No Seriousness In Limiting The Acquisition Of Dollar Remittances." Parliamentary Action Against The National Bank.
Economy 2025-05-24 | 05:05 2,466 views Alsumaria News – Local revealed The Parliamentary Finance Committee on Saturday that the Central Bank of Iraq is not serious about curbing foreign banks' control of including Al-Ahly Bank. dollar remittances, member Finance Committee Hussein Mounes told Sumaria News, "The Iraqi banking system was founded on a very flawed foundation, as
banks are integrated exchanges and therefore do not meet any international standards that qualify them to be correspondent banks."
He explained that "the Central Bank was not keen on upgrading these banks in order to raise their classification so that they would be qualified to deal with international banks."
He added, "The Central Bank resorted to easy solutions, as usual, and did not pursue real strategic solutions,
such as resorting to regional and foreign banks and
relying on them as they are classified in the currency auction and remittances." He explained that
"the Central Bank undertook four rounds of reforms that did not achieve any tangible results in raising the status of our local banks.
Rather, the international sanctions on our banks increased due to the Central Bank's mismanagement."
He stated that "the Finance Committee sought to amend the banking law in the hope that Iraqi banks would have a percentage or share with foreign banks operating in Iraq,
in order to raise their efficiency and share in the profits or interest and to present the names of these banks internationally, but the Central Bank did not respond to the proposals to amend the law."
He explained that "foreign banks publish their profits on their official pages,
but there are other invisible profits that come from taking advantage of the exchange rate difference,
which are side transactions that do not appear in the final accounts of banks as financial institutions."
He explained that "the committee called for limiting the benefits these banks receive,
but we have not seen any seriousness from the ;Central Bank in resolving this issue," stressing the
"need for a real roadmap to reform the banking system and classify our local banks." He explained that
"the number of banks that control the currency sales and remittance window is five,
the most prominent of which is Al-Ahly, in addition to Kuwaiti and Emirati banks, and
there are Turkish banks that will enter the market soon."
https://www.alsumaria.tv/news/economy/527389/لا-جدية-للحد-من-الاستحواذ-على-حوالات-الدولار-تحرك-برلماني-تجاه-المصرف
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