Saturday, September 23, 2023
"RV UPDATE" BY MARKZ, 23 SEPT
MarkZ
[via PDK] I heard he [Sudani] would be back in Iraq late this evening or early tomorrow. That is from my sources…Still waiting for confirmation. A lot of people in Iraq believe that is when we will see the rate change. It sounds plausible to me and I am very hopeful that is the case.
I saw some very impressive math in the early 2010’s. Maybe 2012 from an exceptional Iraqi source. They were pointing to a rate between $12.70 ish-$14.70 ish for the dinar based on the math for that day and time…a lot has changed since then...With values and inflation…so I could defiantly see that now. But I am preparing myself for lower…but hoping for higher. Since Vietnam and Iraq are trading partners...I feel if Iraq rate is high…then the Vietnam rate will also be high.
There is an article out that has people panicked today…”Parliament sets 3 months to restore the exchange rate of the dollar to the official rate” Do not panic about this. We saw similar articles come out of Kuwait just before they RV’d…an article came out saying they were not going to RV for at least 6 months…then bam…they did it that same day…. They are clouding it…and clouding it on purpose.
“Joint leader’s statement: Elevating United States and Vietnam relations to a comprehensive strategic partnership” So we really want to work with Vietnam. Be best buddies…It’s obvious the US is putting a lot of effort into Vietnam right now…this is a good thing. This means the US wants Vietnam to revalue and be successful.
Member Comment: ...Praying this is our last week of waiting. MarkZ: Things are looking good…that’s for certain.
In Iraq: “Parliamentarian: Baghdad and Erbil disputes prevent the adoption of the Oil and Gas law” We were also hearing this kind of thing from Kuwait before their last RV. I was always told to watch for this as a final trigger that needs to be hit right before we see RV. They are working on it. They may be releasing things like this so we don’t know if it’s already done or not.
...His [Sudani] first speech at the UN was more on the military situation, security etc…for the region. Latest reports are that he is now expected to talk again on Friday and address the UN…then hurry home...There is a lot of speculation that he will announce a rate…or that they are going international with their currency…when he gives that speech. Cross your fingers and say your prayers that this comes to fruition.
Parliamentary comment on Sudanese’s speech at the UN meeting: “It was not at the required level.”, 23 SEPT
Parliamentary comment on Sudanese’s speech at the UN meeting: “It was not at the required level.”, 23 SEPT
Hussein Al-Sabari, a member of the House of Representatives, stated that Prime Minister Muhammad Shiaa Al-Sudani’s speech during the annual United Nations meetings did not meet the expectations in terms of addressing the issues. Al-Sabari added that the Prime Minister used diplomacy and courteous language while discussing the escalating problems and issues that are being faced by Iraq.
In an interview, Al-Sabari mentioned that Al-Sudani did not provide the exact details that were supposed to be discussed during the United Nations meetings. He emphasized the importance of presenting the issues that the Iraqi people are facing before the international community.
During a conversation, he explained, “One of the reasons for not mentioning the other part of the unresolved issues is the increasing number of crises in various areas.” He also stated that “Prime Minister Muhammad Shiaa Al-Sudani’s speech did not sufficiently address all the outstanding issues.”
Al-Sabari confirms that Al-Sudani used diplomacy and courtesy to address issues and problems in Iraq during the past period, in his speech at the United Nations meetings.
The annual meetings of the United Nations, chaired by Al-Sudani, have come to a close after a series of meetings with participating country leaders. In his speech, he addressed several important topics, including the completion of development road construction and the fight against corruption. He also called for international support in these matters.
Economist For /NINA/: The Oil And Gas Law Will Contribute To Distributing The Financial Returns Of Iraqi Oil Wealth, 23 SEPT
Economist For /NINA/: The Oil And Gas Law Will Contribute To Distributing The Financial Returns Of Iraqi Oil Wealth
Saturday 23, September 2023 09:49 | Economical Number of readings: 477 Baghdad / NINA / Economic affairs expert, Raad Tawij, called for avoiding the legislation of the oil and gas law and not delving into it, attributing this to the fact that oil is an indivisible, strategic commodity.
Twig said in a statement to the National Iraqi News Agency ( NINA ): “It is best for Iraq to avoid the oil and gas law and not engage in it because it harms the whole of Iraq,” attributing this to: “Oil is an indivisible, strategic commodity, and the oil and gas law can lead to dispersion.” The value of oil wealth.
He pointed out that "several parties are involved in managing the oil wealth, which will contribute to the fragmentation of the financial returns of the oil wealth and a significant shortfall in oil revenues and revenues, which will be difficult to compensate for. The evidence of this is the inability to formulate a law that satisfies everyone, which has continued for many years."
The economic expert continued, "This law may be a reason for illegal monetary demands from Iraq to local and international parties, such as Turkish financial demands from Iraq, taking advantage of its illegal contracts with the Kurdistan region."
Turkey-Iraq Development Road is the key Europe-Middle East link, report says, 23 SEPT
Turkey-Iraq Development Road is the key Europe-Middle East link, report says, 23 SEPT
Shafaq News / During the recent G20 summit in New Delhi, without the participation of Russia and China, a key project was announced: the India-Middle East-Europe Economic Corridor (Imec), which aims to create an alternative to China’s Belt and Road Initiative (BRI). US President Joe Biden emphasised its “historic” significance.
The project is currently a political declaration of intent, with the support of both the EU and US. It will not materialise in the short term.
The Imec would connect Europe to India via the UAE, Saudi Arabia, Jordan and Israel, requiring a wide range of agreements. As an example, China is cooperating with around 140 countries for the BRI. But Turkish President Recep Tayyip Erdogan has opposed the Imec, saying the corridor “cannot be materialised without Turkey” and highlighting his country’s importance as a trade base.
Meanwhile, Turkey and Iraq have made progress in talks on another initiative: the Development Road project, a rail and highway link that would connect the Grand Faw Port in Basra to the southern Turkish border. Iraq’s prime minister has described this as the best option, and the least expensive one, for connecting the Middle East to Europe.
Erdogan has also stated that this project is a priority for Turkey, citing a plan to conclude negotiations within the next two months. The first phase of construction is expected to be completed by 2028.
Once built, the Grand Faw Port would be among the largest in the Middle East, with an area of 54 square kilometres and space to accommodate larger cargo ships. The breakwater at the port has been certified by Guinness World Records as the longest in the world, measuring approximately 14.5km.
The Development Road project can take advantage of the fact that there is already a railway line running south from Mosul, albeit a very old and troubled one in some parts. Renovation is already under way on some railway lines and stations in Iraq.
Governance obstacles
As Erdogan recently said, Qatar and the UAE support this project. The Gulf countries also have plans to lay a railway line among themselves. If the two initiatives are combined, transportation to Europe would become simpler.
The major challenges facing the Development Road project include political instability, complications with regard to state institutions, and security issues in Iraq. Although the security situation in Iraq has improved in recent years, the presence of militia groups continues to pose a threat, as evidenced by the recent clashes between Iran-backed fighters and Kurdish demonstrators in Kirkuk.
At the same time, the activities of the Kurdistan Workers’ Party (PKK) in northern Iraq continue to pose a threat. Turkey, which considers the PKK to be a terrorist organisation, has been carrying out air strikes against the group in Iraq.
Further complicating matters is the ongoing governance and power-sharing crisis in Iraq. The presence of groups that serve as proxies of foreign powers, with various connections to the Iraqi government, creates obstacles. In addition, there has still been no full reconciliation between Erbil and Baghdad, with unresolved issues over the budget and sharing of oil revenues.
Ankara’s close relations with Erbil, however, could help to ensure that these issues do not affect the Development Road project. At the same time, Erdogan is trying to situate the project in a regional framework, rather than portraying it as simply a bilateral initiative between Turkey and Iraq.
The Development Road would not just connect the Middle East to Europe via Turkey; it would also connect Turkey to the Gulf states. Ankara’s vision in this regard aligns with the policy of multilateralism that the Gulf countries have recently developed. It comes as Turkey has been working to rebuild relations with the UAE and Saudi Arabia after a period of tensions.
At this point, while the Imec is still just a theoretical concept, the Development Road project is actively materialising. This gives it a good chance for success.
(Middle East Eye)
"RV UPDATE BY BRUCE, 23 SEPT
Bruce
[via WiserNow] ...we talked about whether or not the rate of the Iraqi dinar would be in the printed gazette Wednesday...
And we checked it and yes, it was. It was according to our sources, put in the printed version of the Gazette, which means that the RV actually happened yesterday [Wednesday] - in Iraq and throughout the Middle East -
who were able to see... and read the printed version of the Gazette in Arabic - and so they got started, essentially yesterday in that region of the world...Now, what about us.
...what we have heard ...we will get started on or by Saturday...What we also know is on Saturday, the plan is to put the rate of the Iraqi dinar out on the digital version of the gazette....
my understanding is that's the version that people would be able to see internationally...So we're looking for a pretty big weekend.
[via WiserNow] ...the oil and gas law which is the HCL, the hydrocarbon law...got...passed...
they're going to start paying that out to the people of Iraq, this is something they get proceeds from their portion meted out to each citizen... I believe it's this month...could be October... I can't remember exactly when but that has been agreed upon...
Kurdistan’s Duhok to complete population census by midnight, 22 NOV
Kurdistan’s Duhok to complete population census by midnight Shafaq News/ The population census process in Duhok, Kurdistan Region, is near...
-
Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
-
Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
-
Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...