FRANK26: "IRAQ'S NEW EXCHANGE RATE WELCOMES THE INTERNATIONAL WORLD!!!"...F26
Al-Sudani: Iraq has become a safe and attractive environment for capital
6/26/2024
Prime Minister Muhammad Shiaa Al-Sudani confirmed: “Iraq has become a safe and attractive environment for capital from international companies, and a preferred market for businessmen and investors.”
During his presidency of the eighth meeting of the Supreme Committee for Reconstruction and Investment, Al-Sudani stressed the necessity of not slowing down or delaying in making decisions that are compatible with the economic reform approach
They're effectively stating to everybody that they're going international. They're giving a laundry list of all the things they've done, are doing and in support of where they're headed.
--
That's what we are waiting for as we speak [seeing what's in the budget]. We haven't seen them expose that rate or that information to us just yet but they're going to. They don't have much choice because June 12th it [The budget] became law...The court already said... just because they have an appeal doesn't mean they have any weight to them.
The budget is only at $70 [per barrel], they've been trying to see if they can modify it and kick it up to $80 so they can spend more money...Oil prices are at $80+ and they think it's going to keep moving forward for the next year or year and a half.
Article quote "...the global energy market sources indicate the current rise in oil prices will continue until the end of the year 2025."
Everybody should be pumped and ready to go...
Article quote: "Sovereign guarantees to the private sector will contribute to the industrial renaissance"
This article right here will blow your socks off...
FRANK26: "KTFA FAMILY... SUDANI GUARANTEED THE CONTRACTS FOR INVESTMENTS WITH A NEW EXCHANGE RATE, THEN HE TOLD THOSE AGAINST THE MONETARY REFORM.......... DON'T YOU DARE TOUCH MY INVESTORS BECAUSE I GUARANTEED THEIR MONEY, INVESTMENTS & CONTRACTS!!!"..........F26
What is the importance of Iraq joining international agreements?
6/26/2024
Baghdad
The Chairman of the National Investment Commission, Haider Makiya, stressed today, Wednesday, the importance of Iraq joining international agreements to enhance the investment sector, noting that Iraq has provided real
guarantees to attract foreign investments.
Makiya said, in his speech, during the launch of the National Investment Commission conference in cooperation with the United Nations Development Programme, that “Iraq’s accession to the International Settlement Agreement resulting from international mediation and disputes that was signed in 2024, will contribute to achieving the goals of sustainable development and encouraging the increasing use of international mediation as a means.” Effective for settling cross-border disputes, for the purpose of maintaining trade and investment relations between the parties involved in the investment process.”
He added, "This agreement has a pivotal dimension, foremost among which is finding an alternative method to litigation procedures before international arbitration bodies in disputes arising from investment, especially since Iraq joined in 2015 the International Center for the Settlement of Investment Disputes between States and Citizens of Other Countries, and this "It will give foreign investors the right to resort to the Washington Center."
He continued, "Also, the Republic of Iraq's accession to the New York Convention on the Recognition of Foreign Judgments of 1958means completing all the necessary legislative environment to provide real guarantees and protection for foreign investors, and this will reflect positively on attracting foreign capital to Iraq, which aims at the construction and reconstruction process, and will raise Iraq's classification." .
He explained, "This agreement enhances the Iraqi investment reality, because it includes many international and qualitative strategic investment opportunities that impose contracts with specialized foreign companies for investment purposes. This requires Iraq to provide legal protection to those companies by resolving disputes in the event that they arise from investment contracts that It is imposed by state institutions on these companies, which prefer to resort to international arbitration to guarantee their rights, as stipulated in Article 27 of Investment Law No. 13.”
He pointed out, “Iraq’s accession to the International Mediation Agreement (Singapore Agreement) is necessary to attract foreign investments and achieve intended development, especially in light of Iraq’s transformation and dependence on a free market economy. This agreement will also create a legal framework that allows reliance on agreements.” The settlement resulting from mediation is easily implemented by all countries.”
Makiya stressed that “the legal department at the National Investment Authority and the investment authorities in the governorates will work to include international investment contracts by relying on mediation mechanisms in investment-related disputes before resorting to international arbitration, which will send a message of reassurance to foreign investors and foreign companies in order to proceed with resolving disputes.” related to these contracts, is easier than entering into international commercial arbitration procedures.”
He pointed out, “The Republic of Iraq’s accession to the International Commercial Arbitration Agreement and the Singapore Mediation Agreement, in addition to concluding many agreements to encourage and protect mutual investments between Iraq and many international countries, made Iraq occupy fourth place in the classification of foreign direct investment.”
And the best emerging markets to invest in 2024.”
He stressed that "the noticeable improvement in the investment climate in Iraq comes as a result of government efforts made to strengthen the economic and investment sector, in attracting foreign investments," calling on foreign companies, foreign investors and businessmen to "visit Iraq to learn about the investment opportunities included in the investment map, and to attend the forum." "Iraq Investment Bank, which will be held next November, will launch more than 100 investment opportunities with integrated approvals, and review the benefits and guarantees that the investment law will provide to investors." . LINK
[via PDK] My Iraqi contacts say there was not a rate in the Gazette yesterday. They expected to see a rate posted there yesterday but there was not one according to 3 sources on the ground there. They still expect to see the rate in the month of June and we have a few days left.
--
Tues. 25 June 2024 MarkZ
I am getting inundated with bank contacts telling me to expect that things have already started …but coming to fruition in banks after the 4th of July. With a rollout in the days immediately following. I believe the 4th is on a Thursday this year… so I was told the roll out around the 6th and 7th. That is the rumor. Remember, we don’t know the timing. I am sure getting a heck of a lot from the banking side that things are now moving quickly and that is what they are preparing them for.
---
I did hear from 3 or 4 military sources and Reno and the Treasury…rumors that are all over the place, some saying it’s happening right now, to no – its tomorrow…to Its already started, to all kinds of timing rumors in an concerted effort to cloud timing. …I think it’s a good things to see them in panic mode trying to cloud timing.
I am getting inundated with bank contacts telling me to expect that things have already started …but coming to fruition in banks after the 4th of July. With a rollout in the days immediately following. I believe the 4th is on a Thursday this year... so I was told the roll out around the 6th and 7th. That is the rumor. But remember we don’t know the timing…but, I am sure getting a heck of a lot from the banking side that things are now moving quickly and that is what they are preparing them for..
Shafaq News / Prime Minister Mohammed Shiaa Al-Sudani stressed on Thursday the importance of developing cooperation with NATO after the end of the mission of the international coalition led by the United States of America in Iraq.
This came during his meeting with the commander of the North Atlantic Treaty Organization (NATO) mission in Iraq, General Lucas Schroers, who recently took office, according to a statement issued by the Sudanese media office.
The statement stated that, during the meeting, the security situation in the region was discussed, and the efforts of the mission and its cooperation with the Iraqi security institutions in the field of advice and training were reviewed, and in the field of intelligence coordination towards the prosecution of remnants of remnants of ISIS terrorist gangs.
The statement added that the Prime Minister stressed the importance of developing bilateral cooperation with the mission in the areas of training and information coordination, with the Iraqi armed forces after the end of the international coalition mission in Iraq, in a way that enhances security and helps in the stability of the region.
For his part, General Schroors expressed his thanks to the government, for supporting the mission, and providing the necessary facilities for its work in Iraq, according to the statement.
Earlier this year, the Iraqi Foreign Ministry announced the success of the negotiations with America and the agreement to form a “supreme military committee” to draft a specific and clear timetable that determines the duration of the presence of the advisers of the international coalition in Iraq.
On Wednesday, June 5, a political source was informed, revealed a 40-day deadline granted by armed Iraqi factions to Prime Minister Mohammed Shia Al-Sudani, to resolve the file of removing US forces from the country, promising that otherwise it would resume their attacks against US military forces.
In early February, attacks by armed groups on U.S. forces in Iraq and Syria stopped, after a drone attack killed three U.S. soldiers in Jordan, in response to which the United States carried out air strikes on sites in Iraq and Syria.
In the midst of the new developments, a political source familiar with Shafaq News told Agency that “a number of armed factions have given the Sudanese and his government until mid-July to resolve the file of removing American forces from the country.”
The source added, “The factions stipulated the establishment of an announced and binding timetable for the resolvement of this file, and otherwise military operations against American goals and interests in Iraq and the region will be resurred.”
On January 30, 2024, the Hezbollah Iraq Brigades announced the cessation of its operations against US forces in order to “not embarrass the Iraqi government,” recommending its fighters “temporarily negative defense.”
Iraqi armed factions launched periodic attacks on US bases in Iraq and Syria, which began in late October 2023, against the backdrop of the Gaza war.
