DINAR REVALUATION

Friday, November 24, 2023

Iraq-Saudi Arabia Establish Free Trade Zone, 24 NOV

Iraq-Saudi Arabia Establish Free Trade Zone

ERBIL — The Ministry of Industry and Minerals in Iraq has initially approved the creation of a free trade zone with Saudi Arabia along their shared border, an official statement said on Wednesday.

The announcement came following the inaugural meeting chaired by Industry and Minerals Minister Khaled Battal al-Najm, where a committee was formed to explore the development of a free-trade zone between the two nations.

The committee, comprising representatives from the Ministries of Planning, Oil, and Trade and the General Director of the Industrial Cities Authority, convened to discuss the objectives and strategies of establishing this joint economic duty-free zone, akin to the existing collaboration between Iraq and Jordan.

The committee expressed its preliminary agreement on establishing a free trade zone along the Iraq-Saudi border, highlighting the expected economic growth. The zone is envisioned as a critical link between the two countries, encompassing free trade areas to enhance commerce, improve financial institutions, and serve as a hub for various collaborative ventures.

https://www.basnews.com/en/babat/831150

Iraqi PM Drives Progress on Shalamcheh-Basra Railway Project, 24 NOV

Iraqi PM Drives Progress on Shalamcheh-Basra Railway Project

ERBIL — Iraqi Prime Minister Mohammed Shia’ al-Sudani led a meeting focused on advancing the Shalamcheh-Basra Railway Project, intended to streamline travel for passengers and pilgrims. This meeting on Thursday emphasized the ongoing efforts to implement the project since its cornerstone was laid last September.

Sudani delved into the administrative aspects and progress in materializing this significant railway project. The discussions highlighted the project's role in simplifying travel processes, especially during pilgrimage seasons, and its broader impact on connecting Iraq and Iran to Central Asia while integrating with other transportation networks.

Sudani directed invitations to private enterprises for the project's execution, addressing concerns regarding environmental studies. He also underscored the urgency of swiftly acquiring land along the proposed route.

Moreover, he stressed the critical need to adhere to the project's timelines, cautioning against delays or setbacks that might impede its timely completion. The aim remains to ensure that this pivotal infrastructure project benefits Iraqi citizens, pilgrims, and travelers from neighboring nations.

https://www.basnews.com/en/babat/831222

🔥Iraqi Dinar🔥Good News🔥News Guru Intel Update IQD Value to USD🤑💵🤑🎉

"RV UPDATE" BY PIMPY, 24 NOV

Pimpy

I started thinking about something. Right now Iraq is mostly importing. This is a time when a country would want to increase their exchange rate. This gives them more purchasing power. But that's not what is happening over there in Iraq...

I was wondering why don't they just increase the exchange rate? This would give them more purchasing power and would help them as far as dealing with the deficit because if your exchange rate if higher then you have more purchasing power...Increase in the value of the Iraqi dinar means the imports that they pay for would be cheaper because they would have purchasing power...

The good news keeps flowing in. That's what we want to hear. That's what we want to see...

Every decision they make when it comes to Iraqi dinar absolutely positively affects the economy. Before they can make a decision to either devalue the currency or increase the value of the currency they have to sit back and figure out how it affects the economy...Iraq is mostly an import country. They rely way too much on other countries providing goods for them.

An increase in Iraqi dinar would make those goods cheaper... They're still trying to rebuild so an increase in the value of the exchange rate would help them go a long way. It would give them more purchasing power and imports would be a lot cheaper.

The Baghdad dollar rose on Thursday evening despite the official “easing of restrictions” on money changers, 24 NOV

The Baghdad dollar rose on Thursday evening despite the official easing of restrictions on money changersOn Thursday evening, the dollar exchange rates remained high against the Iraqi dinar with the continued purchase of large quantities and the intensification of speculation, despite a new decision from the Central Bank that eased restrictions on foreign currency trading in exchange companies.

The last price offered on the Al-Kifah Stock Exchange, this afternoon, was 158,600 thousand dinars for each $100 note.

The exchange rates in a number of Baghdad areas were as follows:
Shorja – the struggle

Sale: 158,500

Purchase: 157500

Harithiya

Sale: 159,000

Purchase: 158,000 

Sadr City – Mridi Market

Sale: 159500

Purchase: 157500

Al-Mansour

Sale: 159500

Purchase: 157,000

964media.com

American Strikes in Iraq: A Shift in US-Iran Conflict?, 24 NOV

American Strikes in Iraq: A Shift in US-Iran Conflict?

The recent American strikes against Hezbollah Brigades positions in Iraq, particularly in Jurf al-Sakhar and north-west of Baghdad, have ignited a flurry of political activity and speculation. According to a political researcher who spoke to “Asharq Al-Awsat”, these strikes may be indicative of a restructuring and rebalancing of the US-Iran conflict dynamic within Iraq, which had been witnessing a breach that needs recalibration. The strikes have been greeted with condemnations from the federal government and most Shiite parties and factions, fueling fears of Iraq being dragged into a new cycle of warfare.

The Coordination Framework’s Statement

The Coordination Framework, which represents the majority of Shiite forces excluding the Sadrist movement, issued a statement hinting at a desire to maintain amicable relations with Washington. The statement underscored the defined roles of international coalition forces under Iraqi law and condemned any actions beyond combating ISIS remnants as serious violations. The group also appreciated the government’s efforts to protect diplomatic missions and enforce the law.

A Shift in American Strategy

Dr. Ghazi Faisal, head of the Center for Strategic Studies, perceives a shift in American strategy from deterring to attacking militias linked to Iran’s Revolutionary Guard. His interpretation is backed by US sources, which claim the recent strikes were a reaction to over 60 attacks by these factions on US personnel in Iraq and Syria since the Gaza war commenced in early October. Faisal warns that if these militias intensify their operations, the US might escalate to a full confrontation, possibly targeting militia leaders akin to the assassination of Iranian General Qassem Soleimani and the deputy head of the PMU, Abu Mahdi al-Muhandis, three years ago.

Adjusting the US-Iran Conflict Balance

Political analyst Ahmed Al-Yasiri views the American strikes as a measure to readjust the US-Iran conflict balance in Iraq, rather than a reaction to the Gaza war’s expansion. Al-Yasiri warns that a failure to respond could embarrass the Biden administration, which has recently seen a setback in polls. He predicts a highly tense period ahead, with Washington eager to keep Israeli involvement minimal to contain the Gaza war.

Temporary Truce between Hamas and Israel

In related news, Mahmoud al-Mardawi, a leader in Hamas, confirmed that mediators in the temporary truce with Israel have pledged that Israel will not re-arrest the released Palestinians once Hamas releases their captives. The truce also involves the entry of food, medical supplies, and fuel into the region, along with the prisoner exchange.

https://bnn.network/world/us/american-strikes-in-iraq-a-shift-in-us-iran-conflict/