An Economist Warns Of American Intentions Regarding Iraqi Financial Dealings, 14 SEPT

 An Economist Warns Of American Intentions Regarding Iraqi Financial Dealings

Information / Baghdad...Economic affairs researcher, Muhammad Al-Saadi, warned on Thursday of American intentions and dictates regarding Iraqi foreign financial transactions, as well as dialogues and invoices, likely imposing new conditions related to the process of transferring the dollar from the US Federal Bank. 

Al-Saadi told Al-Maalouma, “Washington may move towards imposing new dictates on Iraq through the visit of the US Assistant Secretary of the Treasury for Anti-Money Laundering Affairs (Elizabeth Rosenberg) to Baghdad and her meeting with the Governor of the Central Bank.”

He added, "It is expected that the visit aims to impose new conditions regarding the transfer of dollars from Iraqi funds in the Federal Bank," noting that "the visit comes in the context of conditions adopted by the American administration to impose on the government of Muhammad Shia al-Sudani and implement them."

He stated, "The conditions include the US Treasury's monitoring of all Iraqi foreign import invoices, and tightening control over Iraqi remittances and the dollar selling platform through the anti-money laundering framework." LINK

Al-Sudani receives the UAE Minister of State and confirms the government's keenness to develop relations between the two countries, 14 SEPT

 Al-Sudani receives the UAE Minister of State and confirms the government's keenness to develop relations between the two countries

Today, Thursday (September 14, 2023), Prime Minister Muhammad Shiaa Al-Sudani received UAE Minister of State Khalifa Shaheen Al-Marar, while the Prime Minister stressed Iraq’s keenness to develop relations between the two countries in all fields. 

The Prime Minister's Media Office said in a statement received by "Baghdad Today", "The meeting witnessed discussion of ways of cooperation and strengthening areas of partnership between Iraq and the United Arab Emirates." 

The Prime Minister affirmed, according to the statement, "the government is pursuing a policy of economic integration with the brotherly and friendly country, as it represents the basic gateway to stability in the region." 

Al-Sudani stated, "Iraq's openness to Emirati companies and businessmen to work within the country," stressing "the government's keenness to develop relations with the Emirates in all fields, especially those related to the economic, investment, and development aspects." 

For his part, the Emirati minister conveyed to “the Prime Minister the greetings of Sheikh Mohammed bin Zayed Al Nahyan, Sheikh Mohammed bin Rashid Al Maktoum, and Sheikh Mansour bin Zayed Al Nahyan,” expressing “his country’s happiness at holding the joint committee meetings in Baghdad,” according to the statement

He stressed "his country's support for development and investment projects in Iraq," noting "the serious desire to participate in the vital development road project, because of its importance to all countries of the region."    link

Coffee with MarkZ and Andy Schectman 09/14/2023

The US Treasury discusses with the Iraqi Central Bank foreign trade in three foreign currencies other than the dollar, 14 SEPT

The US Treasury discusses with the Iraqi Central Bank foreign trade in three foreign currencies other than the dollar, 14 SEPT

 The Governor of the Central Bank of Iraq announced on Wednesday that he discussed with the US Assistant Secretary of the Treasury combating money laundering, terrorist financing, and foreign trade in three currencies other than the US dollar.

The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, met with Assistant Secretary of the US Treasury Elizabeth Rosenberg and her delegation. Bilateral relations were discussed, and the Central Bank of Iraq’s measures to combat money laundering and terrorist financing were reviewed. The meeting also involved confirming the continued support provided by the US Treasury and joint efforts to enhance transparency, integrity, and compliance with international regulations within the Iraqi banking system. The bank’s media released a statement regarding the meeting.

The statement reveals that two parties met and discussed the progress made in previous meetings between the Central Bank of Iraq and the US Treasury Department and Federal Bank. They also talked about the possibility of technical support in financing foreign trade through trustworthy banking channels. The financing will be provided in various currencies such as the euro, the Chinese yuan, and the Emirati dirham. The parties also discussed organizing trade with the Republic of Turkey.

The US Treasury Department commended the Central Bank of Iraq for its efforts in ensuring transparency and accuracy of procedures through contracting international auditing companies.

On Tuesday, the US Ambassador to Iraq, Alina Romanowski, made an announcement on X (formerly Twitter). In the blog post, she expressed her pleasure in welcoming the assistance of US Treasury Secretary, Elizabeth Rosenberg, to Baghdad. She also mentioned that she is looking forward to holding important meetings with government leaders and officials in the Central Bank of Iraq.She stated that combating international money laundering and implementing banking reform could help fight corruption and promote foreign investment in Iraq.

Economic accusations pursue entities in the Central Bank: they are working to bring down the government through the dollar, 14 SEPT

 Economic accusations pursue entities in the Central Bank: they are working to bring down the government through the dollar

Economic accusations pursue entities in the Central Bank - they are working to bring down the government through the dollarInformation / Baghdad..

On Wednesday, economic expert Zia Mohsen accused parties within the Central Bank affiliated with internal and external agendas of working to fail the government of Muhammad Shiaa al-Sudani by creating a state of instability in the dollar exchange rate.

Mohsen said in a statement to Al-Maalouma, “The measures taken by the Sudanese government regarding limiting the rise in the exchange rate of the US dollar against the Iraqi dinar since the appointment of a new governor of the Central Bank faced obstacles placed by parties within the Central Bank.”

He added, “There are parties working for internal and external agendas to thwart the government of Prime Minister Muhammad Shiaa al-Sudani by creating a dollar exchange rate crisis.”

He pointed out that “these parties have found new outlets for currency smuggling, including disbursing $30 million a day to travelers, in addition to the government’s ban, taking into account the views of specialists in the field of monetary policy.”

The exchange rates of the US dollar against the Iraqi dinar, in the local markets, are witnessing a state of instability, despite the many measures taken by the government and the Central Bank.

almaalomah.me

"RV UPDATE" BY MARKZ, 14 SEPT

 MarkZ  

 [via PDK]   Groups are positioned and ready…agreements are done…people are all in place…The US Treasury is in Iraq…all we are waiting on is the switch pulled. 

  I am continuing to hear very positive stuff.  The consensus is from my Iraqi contacts…that they are looking for a worldwide announcement of a rate change somewhere around the 20th or 21st. That does not mean we are waiting until then. That means that is when it should be announced to the public. We should hear something before then based on what I am hearing right now. Let’s hope this is accurate. I don’t think I have ever heard this much hype before…It’s almost overwhelming…In a positive way.

 My banking contacts believe it will be in the next day or two. My Iraqi sources say between now and the 20th. We do not know the timing but the indicators look absolutely stunning for this timing of the next 8 days…with the emphasis on the next day or two being highly possible. Get excited, stay excited and know what you are going to do.

 People are there in Iraq to make things happen. This is main stream news on the streets of Iraq. What a news day today. They are expecting news tomorrow from rate, timing etc…in Iraq…is what I am being told by Iraqi sources…Things are getting super exciting. We do know that some of the last representatives needed are expected to be in place today and tomorrow…It is close... 

Question:   "Why does the US have any say in Iraq’s revaluation?"  MarkZ:  Because of the Iraqi war and the rebuild Iraq money and part of the surrender agreement with Sadaam Hussein when they pulled out of Kuwait. That is it in a nutshell…so the US can recoup the cost of the war.  Question:  "Will the US get in the way of the RV again?"  I can tell you they are caving and cannot get in the way now.

Iraqi Dinar Latest Exchange Rate Today / Currency New Rate / Iraqi Dinar...