Iraqi parliamentarian pushes for an emergency session amid dinar depreciation, 16 SEPT

 Iraqi parliamentarian pushes for an emergency session amid dinar depreciation

Shafaq News/ Lawmaker Mohama Khalil on Saturday said he intends to gather signatures from fellow parliamentarians to convene an emergency session to address the soaring exchange rate of the US dollar against the Iraqi dinar.

Speaking to Shafaq News Agency, Khalil said that "the rise of the dollar against the national currency has negatively impacted the Iraqi landscape, affecting the citizens' livelihood."

He noted that it is incumbent upon the government and supervisory authorities to curb the soaring exchange rate of the US dollar, criticizing the parliament for its absenteeism and negligence in addressing this surge.

Khalil stressed that "the government needs to elucidate the reasons behind the dinar depreciation, which is expected to exacerbate, and to devise solutions and strategies in this regard, preventing speculators from exploiting the Iraqi market." 

As Khalil plans to move forward with his initiative, he highlighted his determination to "call upon the parliament speaker, the first and second deputy speakers, and collect signatures of 50 lawmakers to hold an extraordinary session attended by the stakeholders (Finance Minister and the Central Bank Governor), to openly communicate and reveal to the people the reasons behind the dollar's ascent against the Iraqi currency," before the parliamentary session scheduled for the coming Monday.

https://www.shafaq.com/en/Iraq-News/Iraqi-parliamentarian-pushes-for-an-emergency-session-amid-dinar-depreciation

FRANK26……9-14-23……LOVE ME TENDER

World leaders meet at the United Nations with the participation of Iraq, 16 SEPT

  World leaders meet at the United Nations with the participation of Iraq

 Leaders of world countries, including Iraq, are meeting at the United Nations this week, in light of geopolitical tensions that have been greatly exacerbated by the Ukraine war, amid Russia and China competing on one side with the United States and Europe on the other side, to gain the support of developing countries.

According to a report followed by the National Iraqi News Agency ( NINA ), Russia's war in Ukraine will be the focus again at the annual gathering in New York, which Ukrainian President Volodymyr Zelensky will personally attend for the first time since the start of the conflict.

The concerns of the southern hemisphere top the agenda of the meetings this year, and the focus on this issue comes to some extent as a reflection of the increasing interest of Western countries in developing countries to ensure their support in efforts to isolate Russia.

The focus in several high-level meetings during the General Assembly is on the priorities of developing countries in Africa, Latin America and Asia, namely climate, health, development financing, and how to put the “sustainable development goals” on the right track.

“This is a year in which countries in the southern hemisphere set the agenda,” said Richard Gowan, director of the UN International Crisis Group.

He continued, "Non-Western countries seized this moment very effectively."

He added, "I think she took advantage of the fact that she knew that the United States on one side and Russia on the other wanted to gain her support."

The Ukraine war is just one reason to focus on developing countries. Over the past decade, China has pumped hundreds of billions of dollars in loans for urgent infrastructure projects, as part of its Belt and Road Initiative, which has been criticized for burdening many countries with massive debts.

The United States and its allies recently began attempts to counter China's growing influence by pledging funds in the form of development and climate aid.

Before the New York meetings, diplomats acknowledged their focus on developing countries, but denied suggestions that competition played a role.

The US Ambassador to the United Nations, Linda Thomas-Greenfield, described the General Assembly gathering as an opportunity for small countries to “present their priorities to us,” and that she did not view the matter “as a competition between great powers.”

China's ambassador to the United Nations, Zhang Jun, said that Beijing "has no intention of competing with others" and that the country, as its situation improves, "is willing to do more in return for developing countries, but we are not competing."

Russia's ambassador to the United Nations, Vasily Nebenzia, also stressed that Moscow "is not trying to win over anyone."

He added, "We are just who we are, and we will not make our friendship with anyone conditional on them standing on our side and doing what we want, unlike some of our colleagues here who are twisting their arms."  link

Thing are gone good BY NADER FROM MID EAST

"RV UPDATE" BY SANDY INGRAM & BRUCE, 16 SEPT

 Sandy Ingram 

  The Iraq prime minister discussed the cooperation between financial institutions in Iraq and the US Treasury Department with the US Assistant of the Secretary of the Treasury Department, Elizabeth Rosenberg.  The meeting addressed measures the Iraqi government took to reduce corruption.  The Prim Minister indicated the government is advancing the banking sector reforms which are crucial for the economy's growth by adhering to international standards...

 Rosenberg applauded the Iraqi government's outstanding efforts in implementing financial and banking reforms which would support Iraq's attempts to...expand its economy.

 The Turkish currency has steadily increased abasing the U.S. dollar since March 2023.  If Iraq's currency were to match the Turkish Lira many of us would be looking at $40,000 in profits (with 1 million dinar) even without a so-called revalue.  In a matter of months you can reali

ze thousands of dollars in profits when dealing with exotic currencies.   It is taking Iraq longer than usual but they have had so many more issues than many countries.

Bruce

   [via WiserNow]  ...a delegation from United States, a small group that included Judy Shelton, Stephen Munchin, and a couple of senators from the United States...went over to Iraq to have – I’m gonna say, effect the changes that...needed to be made...they're already home...My thinking is that they probably accomplished what it was they went over there to do...

we've heard that everything's  done and signed everything was signed off on...everything was signed off by our treasury - and everything was quote, unquote, good to go...The fact that they're back, I believe, is saying that Iraq is finally ready to go...Everything is ready to go is what we're getting from our key sources...

"THIS IS BETTER NEWS THAN ANY GURUS" BY DINAR RECAPS INTEL, 16 SEPT

 I received this from a friend this morning, it now has been posted

OK here goes. I have a friend of mine. That is a personal Dinar dealer in the United States. I’m able to purchase Dinar from him anytime and I get the shipment within 3 to 5 business days.

I just got off the phone with him. And he is telling me that his vendor just got all of his dinar confiscated.  The vender explained to my Dinar friend that he is no longer allowed to sell and that he will be returning his 25,000USD in 2 days. 

The vendor said that they are tightening the noose in iraq and they are stopping people from taking it over seas.  My dinar dealer said that the us treasury has caused a wave that is causing vendors to immediately stop.

My own dinar dealer is upset bc he sold all of the dinar and does not have any for himself.  He laughed and said he will have to try to grab some off eBay. 

My dinar guy sells 10-20 million in dinar a week.  Now he’s completely cut off. 

I laughed over the phone and found it pretty ironic.

Everybody take that for what it’s worth.

Lastly, my Dinar dealer is very well-versed in cryptocurrency, and he said that the utility coins are going to explode in the next 5 to 6 months. He said if you’re going to buy anything buy XRP.  He also said that if you have bitcoin, utilize well bc it’s not going to be high forever.

He also explained that Dinar’s gonna get extremely expensive here in the near future and then after that you won’t be able to buy it

That is exactly what I have been watching for and tracking daily. Because unless and until the currency Brokers stop selling exotic currency the rate has not changed. That's better news than any guru. You can hang out your shingle! Thank you!

from DINAR RECAPS

US Treasury official urges CBI to address dollar misuse risks to avoid further sanctions, 16 SEPT

 US Treasury official urges CBI to address dollar misuse risks to avoid further sanctions

Shafaq News / A senior official from the US Department of the Treasury has stated that the Central Bank of Iraq (CBI) must address ongoing risks stemming from the misuse of the US dollar in Iraqi commercial banks to avoid further punitive measures targeting the country's financial sector. The official noted instances of fraud, money laundering, and Iran evading sanctions.

In July, the US barred 14 Iraqi banks from conducting transactions in dollars as part of a broader campaign against unlawful use of the US currency.

According to the official, there are still other Iraqi banks with risks that "need to be addressed" despite the campaign.

With reserves exceeding $100 billion in the US, Iraq heavily relies on Washington's goodwill to ensure its oil revenues and funds are not subjected to US sanctions.

The official added that the action taken by the US in July was based on clear indicators of illegal financial activity. Alleged crimes under investigation by the Treasury Department include money laundering, bribery, extortion, embezzlement, and fraud.

CBI's governor has stated that the country is committed to implementing stricter regulatory rules for the financial sector and combating dollar smuggling. CBI did not immediately respond to a request for comment on Thursday .

Iraq has over 70 private banks, a relatively new development in a sector that was almost entirely state-dominated until the fall of Saddam Hussein following the U.S. invasion in 2003. Among these banks, slightly less than a third are on the US blacklist.

The official told Reuters in Baghdad, "I chose to focus on the banks that still have access, and I see that the risks are ongoing there."

He added, "It would be great if CBI seized the opportunity to address the matter directly, which might negate the need for further actions [in the US]."

https://shafaq.com/en/Economy/US-Treasury-official-urges-CBI-to-address-dollar-misuse-risks-to-avoid-further-sanctions