Deputy: 10 countries expressed their desire to invest in the path of Iraqi development
Tuesday, September 5, 2023
Deputy: 10 countries expressed their desire to invest in the path of Iraqi development, 5 SEPT
Coffee with MarkZ 09/05/2023
"RV UPDATE" BY MARKZ, 5 SEPT
MarkZ
[via PDK] My Iraqi contacts are hesitantly excited with expectations for this week. There are more and more confirmations that the government is using that 1132 rate with contractors right now.
I feel pretty confident the CBI is starting to make moves. They have said before they would stabilize at that rate and then give us the big change we are looking for. We just need to wait and see what pops out of all this. The chatter is overwhelming right now that things have finished..
There is certainly a lot of chatter saying it could be this week. The rumors are thick that the money is moving and started over this weekend. But, I cannot find anybody with that money in their pockets yet. I have received a lot of messages from a lot of people in positions and places that are saying “we are done” and it’s happening now…
I guess we will find out throughout the day today and by tomorrow if things have moved or not...I do have a physical get together with one of my contacts later today. I am pretty excited about that one.
The WTO is big and it’s been percolating in the back since January. My sources told me years ago that when we saw them join the WTO- then it was done. They would have to be fully international for that.
..with the extended holiday this week between now and Thursday the indicators seem to be really coming together. We see that 1132 rate all the time behind the scenes...but the CBI has a different rate that is published.
Parliament Holds The Central Bank Responsible For Manipulating The Price Of The Dollar, 5 SEPT
Parliament Holds The Central Bank Responsible For Manipulating The Price Of The Dollar
Policy 05/09/2023 the number of readings: 276 Baghdad-Iraq today: The Parliamentary Finance Committee attributed the continued rise in the dollar exchange rate to the complex procedures included in the electronic window, while indicating the existence of collusion by some central bank employees by passing large sums of money to a group of merchants.
Committee member Mueen Al-Kazemi said in a press interview, “The Parliamentary Finance diagnosed, during its meeting with the bank's governor, the existence of errors in the procedures of the electronic window to buy the dollar, and the matter caused the reluctance of a significant proportion of merchants to register and request foreign currency, which led to a scarcity of supply.”
In the market and the rise in the exchange rate,” noting that “the procedures adopted by the bank are complex and have caused the reluctance of many merchants and to avoid registering in the electronic dollar purchase window.”
Al-Kazemi added, "Some exchange rate speculators are working to publish unreal prices under the stock exchange title and broadcast them within (WhatsApp) groups and other sites, and this led to price conflicts and created a greater interest than the demand for buying or selling.”
And he explained, “The American sanctions also prevent the issuance of remittances to some merchants wishing to import from neighboring countries such as Iran, Lebanon and Syria, and this measure prompted merchants to use illegal methods in order to transfer their money to facilitate the task” of importing goods and merchandise,” pointing out that “the complicity of some employees in the central bank with a group of merchants, especially in the currency auction, it caused the passage of sums of money that are not parallel to the volume of goods that are imported.
And Al-Kazemi continued, “The Finance Committee has put in place some procedures and agreed with the bank’s governor regarding them, as they are likely to contribute to reducing the price, including granting an amount of 3 thousand dollars to citizens who wish to travel.”
Directly away from the exploitation of tourism companies and offices for their requests and benefits through their passports, with the committee's monitoring of the bank regarding the implementation of all observations that were identified during the hosting of the bank's governor.”
Al-Kazemi stated, "The Iraqi government has entered a battle between its desire to implement a sober banking system, and ending the power of speculators and currency smugglers." LINK
An economist who explains how to cover the Iraqi gas deficit through development, 5 SEPT
On Monday, researcher Muhammad Al-Saadi explained how development and gas exports to Europe could cover the deficit in Iraqi gas.
Al-Saadi said that Iraq has the potential to export gas to Europe if it achieves self-sufficiency by extracting and utilizing gas from its own lands.
He suggested investing in the development of a road and setting up a gas pipeline alongside it to transport gas from Iraqi, Iranian, and Qatari fields. This pipeline could connect to the existing gas pipeline on the road and be used to export gas to Europe and other countries that require it.
Al-Saadi proposed that Iraq could receive free gas exports in exchange for securing the pipeline passing through its territory.
He suggested that there is a way to address the gas shortage by accessing a portion of the exported gas through the pipeline, while also developing domestic gas production to achieve self-sufficiency.
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