Iraq Dinar - Ministry of Labor - 1.9 Million Effected - Exchange Rate Ch...BY MILITIAMAN

"RV UPDATE" BY MILITIAMAN & BRUCE, 31 AUGUST

 MilitiaMan (KTFA)

Article:
“Kurdistan Presidency Office: Baghdad’s failure to send financial dues to the region is unfair”

There is far more to this story in this than what meets the eyes. They’ll need the salaries quickly or it is going to get iffy.. lol   We can see that there is a reason for them not getting the salaries yet. They’ll need the new exchange rate to be allocated.. imo.. Seems fairly obvious now.

 We can see there's a push now to get the projects...up and and running.  There's going to have to be spending ...but we haven't seen it openly yet.  This is all about Iraq's future.   They're going to need to be Article VIII complaint exchange rate fairly quickly...

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Bruce 

  [via WiserNow]  ...everything is moving in the direction we want it to move...in terms of timing, there have been meetings ...big meetings with redemption center and some of the top bank personnel ...And ...this particular meeting had a top tier treasury person on the call...this particular information that we received, We actually had it prior to this call, but the call verified it to us. 

We got it...from another couple of sources and the gist of it is that we should be notified by...Thursday, which is the 31st.  And we should start our exchanges either Thursday, or Friday, which is the first of September...Intel is aiming to come together to bring this finally to fruition...We're excited about it.

Coffee with MarkZ and Bob Lock. 08/31/2023

Banks Received Memo?💣Bank Official & CBI Meeting?🤔Iraq Dinar RV Updates ...

Economic Proposals To Reduce The Differences Between The Official And Parallel Dollar Price, 31 AUGUST

 Economic Proposals To Reduce The Differences Between The Official And Parallel Dollar Price

Information / Baghdad...The researcher in economic affairs, Muhammad Al-Saadi, explained how to reduce the differences between the official dollar exchange rate and the one sold in the parallel market through government procedures and decisions.

Al-Saadi told Al-Maalouma, that "there is a commission that exchange companies receive when buying and selling dollars, and it is assumed that there will be a commitment to the specified commission according to the Central Bank's policies."

He added, "The competent authorities can reduce the demand for the dollar by reducing money transfers and pushing for imports through documentary credits, so that the process of obtaining the dollar at the official price takes place smoothly, away from any complications that push the merchant to resort to the black market."

And he indicated that "there are many options available to the government in order to reduce the withdrawal of the dollar from the markets, especially the parallel one, impose control and monitor any cases of manipulation or speculation, and support the dinar in the local markets, as well as providing more facilities for merchants to push them towards registering on the electronic platform in order to obtain dollars in order to import their goods. LINK

A Parliamentary Committee Reveals The Latest Developments In The Oil And Gas Law: 4 Dimensions In Front Of Its Legislation

Time: 08/31/2023 Read: 2,496 times  {Economic: Al Furat News} The Parliamentary Oil, Gas and Natural Resources Committee revealed that the draft oil and gas law, which has been stalled for years, is still "in the process of writing its draft."

Committee member Sabah Sobhi said, in a press statement, "The draft oil and gas law is still in the process of writing its draft, which is the first stage in enacting any law. This law needs a comprehensive political consensus, as it is a sensitive law that needs deep study and discussion by the parties." political".

He added, "The law includes many dimensions, the most important of which is the economic dimension, which is the most important, because the enactment of this law leads to the restructuring of the Iraqi economy, and the second dimension is the legal one, because until now there is a legal vacuum with the existence of a constitutional article related to oil that requires the enactment of a law of its own."

He continued, "As for the third dimension, it is political, given that the issue of the oil commodity is very important from a political point of view, as it is the main revenue on which the economy and the Iraqi state depend, because 90% of the country's budget depends on oil imports, so we need to legislate this law, and another after It is the technical dimension because oil is full of techniques from exploration until we reach sale, so we are in the process of enacting an important, complex, sensitive and fateful law for Iraq.

Many explain the reason for the delay in enacting the oil and gas law to the political dimension that is governed by consensus between the parties to the political process, while relying on the law being approved in the current parliamentary session if it is completed by the government.

It is noteworthy that Prime Minister Muhammad Shia' al-Sudani held a meeting on the second of August to discuss the draft oil and gas law, and witnessed the review of the latest drafts of the draft law, its details and clauses. In the meeting, al-Sudani affirmed that "the draft oil and gas law is one of the basic and important laws, and the law is part of the commitment to the ministerial curriculum. " to his government. LINK Parliamentary Oil: The Oil And Gas Law Is Still In The Process Of Writing Its Draft Energy Economy News _ Baghdad Although years have passed since the talks about the oil and gas law and the arguments about it, it is still a draft of the government and has not been completed yet. It is being relied upon that the law will be approved in the current parliamentary session if it is completed by the government. A member of the Oil, Gas and Natural Resources Committee in the House of Representatives, Sabah Sobhi, said, in an interview with “Al-Sabah” followed by “Al-Iqtisad News”, that “the oil and gas law is still in the process of writing its draft, and it is the first stage in the legislation of any law, as this law needs political consensus.” Comprehensive, because it is a sensitive law that needs deep study and discussion by the political parties. He added, “The law includes many dimensions, the most important of which is the economic dimension, which is the most important, because the legislation of this law leads to the structuring of the Iraqi economy, and the second dimension is the legal one because until now there is a legal vacuum with the existence of a constitutional article related to oil that requires legislation of its own law.” And he continued: “As for the third dimension, it is political, given that the issue of the oil commodity is very important from a political point of view, as it is the main revenue on which the economy and the Iraqi state depend, because 90% of the country’s budget depends on oil imports, so we need to legislate this law, and another after It is the technical dimension because oil is full of techniques from exploration until we reach sale, so we are in the process of enacting an important, complex, sensitive and fateful law for Iraq and for the parties involved in the issue of oil production, since this commodity is linked to the producing region and provinces and it has rights and obligations at the same time Therefore, there must be a conscious and practical view that is compatible with the Iraqi federal constitution.” And Sobhi indicated, “The law is still with the government until now, and there is no official draft by the government, and what is currently in circulation is the draft that was written by the Iraqi Federal Ministry of Oil, and it came from only one party, and this draft must include the ideas of the Kurdistan region and the oil-producing provinces as well.” So that it is integrated and can be discussed in the Council of Ministers and voted on, and then sent to Parliament and work on it. He stressed, “The law is sensitive, and if a political agreement is not reached on it, it will be the same as the previous sessions, but we believe that the current session will be decisive for the law.” He added, “It is true that the conditions are not appropriate for the issuance of the law; But the will of the Prime Minister and the Prime Minister of the region to issue the law exists in order to overcome the problems that Iraq suffers from regarding oil ». 

https://economy-news.net/content.php?id=36088

Zainab Juma al-Mousawi, a representative of the Sadiqun parliamentary bloc, calls for Iraq’s accession to the “BRICS” , 31 AUGUST

 Zainab Juma al-Mousawi, a representative of the Sadiqun parliamentary bloc, calls for Iraq’s accession to the “BRICS”

2023-08-30

Zainab Juma al-Mousawi a representative of the Sadiqun parliamentary bloc calls for Iraqs accession to the BRICSToday, Wednesday, the representative of the Sadiqoon Parliamentary Bloc, Zainab Juma Al-Mousawi, called on the government to submit a request to join the international BRICS group.

Al-Moussawi said in a statement, “Part of the importance of the BRICS group is its possession of oil, wheat, and widely used minerals such as iron, or rare metals used in technological industries.”

She added, “Iraq’s accession to the BRICS group, similar to the accession of Arab and regional countries, comes due to its utmost importance for the Iraqi economy in getting rid of the dominance of the US dollar and liberating the country from Washington’s financial and trade restrictions.”

She pointed out that “the BRICS group has become one of the most important economic blocs in the world, due to the growth figures achieved by the countries of this bloc over the years, which has made it the focus of attention of many other countries.”

It is noteworthy that the BRICS group and the countries currently under its banner, which are Russia, China, India, Brazil and South Africa, present themselves as an economic bloc that seeks to break the dominance of the West over the global economy, and many economists expect that it will be a symbol of the fastest growing economies in the world in the near future.

BRICS is a global economic bloc whose idea began in September 2006, when the first meeting of the foreign ministers of Brazil, Russia, India and China was held on the sidelines of the United Nations General Assembly in New York.

This group has become one of the most important economic blocs in the world, due to the growth figures achieved by the countries of this bloc over the years, as it aims to become a global economic power capable of competing with the Group of Seven (G7), which accounts for about 60%. of global wealth.

burathanews.com

"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 31 AUGUST

 Frank26 (KTFA)

[Iraq boots-on-the-ground report]

FIREFLY: There’s more meetings behind closed doors with high ranking bank officials across the board. Everybody you can think of is there with the World Bank and the CBI. This is two days in a row bank official are here.

FRANK: …They are talking about the new exchange rate…Sudani is telling all foreign investors Iraq is a great investment.  He’s telling them to invest inside Iraq…

FIREFLY: The CBI governor has met again with parliament…They talked about the exchange rate…They actually told them about the exchange rate and the rise of the dollar and the struggles it has to overcome this dollar dominance. They presented solutions yet saying the dollar is going to be forbidden and the stability of the dinar is a major concern.

FRANK: Yeah, you know what the solution is and you know the stability will come because of the solution.

FIREFLY: Two urgent decisions have been made to enhance the ability of the dinar against foreign currency.

FRANK: IMO those two are your new exchange rate and lower denomination notes.