Iraqi PM invites World Bank to audit Development Road Project designs
Shafaq News/ Iraqi Prime Minister Mohammad Shia Al-Sudani directed the Ministries of Transport and the Board of Advisors to develop a mechanism for involving the World Bank in auditing the designs of the Development Road Project.
During the third meeting of the Supreme Committee for Implementing the Development Road Project (DRP), Al-Sudani and officials discussed the impact of international road projects on the DRP's work strategy and the economic model presented by the consulting team.
Prime Minister Al-Sudani emphasized the importance of launching the first implementation step and reflecting on the project's impact on various aspects of Iraq's economy, industry, services, and society.
The Development Road Project is a $17 billion infrastructure project in Iraq that aims to connect Asia to Europe through a new motorway and rail network. The project will link the southern port city of Basra to the Turkish border, connecting to existing rail and road networks that lead to Europe.
The project is being funded by a consortium of Iraqi and international investors and is expected to be completed in 2028. It is expected to create thousands of jobs and boost the Iraqi economy by billions of dollars.
The Development Road Project is more than just a road and a railway. It is also a strategic project that aims to transform Iraq into a regional transportation hub. The project will also help to promote regional cooperation and economic integration.
The project is still in its early stages but can potentially be a significant game-changer for Iraq and the region. It is a sign of Iraq's commitment to rebuilding and developing its economy and playing a more active role in the global community.
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
The CBD Gurus share information the first 30 minutes or so…..then MarkZ with the news
Mod: GOOD MORNING EVERYONE! HAPPY SATURDAY!.
Member: yo, yo, yo, let's Go, Go, GO!
MZ: Well…this surprised me , but I got it from 3 different sources that they are (with hopeful anticipation) keeping a skeleton crew in call centers/ redemption centers and working on how they are going to handle appointments ….I think this is good news.
MZ: I think its comforting that the banking side of this is taking it seriously and has a small crew ready- just in case they pull the trigger.
MZ: Most of the news we are expecting should start tomorrow or Monday coming out of Iraq.
MZ: Depending on chatter coming out of Iraq - we may have a short podcast tomorrow…. Just an update as we are expecting a lot of activity tomorrow and Monday. If we get groundbreaking news…I will come on.
MZ: Bonds and groups are still in a “wait” cycle.
Member: The latest, that I have heard, from a US Soldier, is that the HCL (Hydro Carbon Law) was passed in Parliament and all is ready.
Member: What day is Sudani talking at the UN?
MZ: I believe it’s on Tuesday…..
Member: Praying everything goes all at once……that would make sense to me….shotgun start.
MZ: I am still hearing it all should go at once.
Member: Mark-Fact or fiction…..some dinar sellers are being told they can no longer sell???
MZ: Fact. Some of the smaller dealers have had their supply and purchasing limited as to what they can buy at all….. But yes…I have talked to a couple of smaller dealers that have had their access cut off so they can no longer get it. They can no longer get dinar. So, is this important or is this the US stopping dinar from getting outside and flowing to Iran?
Member: Patriot Rod Steel was on ppn. last night. the treasury secretary said on Wednesday that she would make a decision in 96 hours. that would bring us to Monday. that would be nice
Member: Rod Steel says he has got a whole list of banks that are hooked to the quantum financial system
Member: I am hearing Tuesday is our day.
MZ: That timing certainly fits. We are also expecting an announcement from the Iraqi officials here in the states at that same time.
Member: Hoping that announcement is the new dinar rate
Member: TNT Tony also said bankers are working today and tomorrow.
MZ: There you go….boom…they are getting the same thing I am getting.
Member: I am still thinking it will happen before the new fiscal year starts here in the US on Oct 1.
Member: I think next week looks fantastic.
Member: I am hping someday we are watchcing MarkZ and he gets the call for us to go
MZ: I am hoping for that as well. I am hoping we get that call on Monday.
Member: Thanks Mark and Mods for all you all do!!!
Member: Everyone have a Great weekend and God bless you all!!!
Mod: MARKS WEEKEND EMAIL ADDRESS: DONTWRITEME@NEVERONWEEKENDS.COM
“THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IS IN MARKZ’S OPINION ONLY
SATURDAYS GO TO: Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary,medical opinions or many guests on this stream……just RV/currency related topics.
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To control the money... Parliamentary Finance accuses America of putting pressure on the Central Bank
On Saturday, a member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, accused the United States of America of putting pressure on the Central Bank of Iraq by preventing the Federal Bank from accessing the funds.
Al-Kadhimi said in an interview with the Maalouma Agency, that “American dominance over the work of the Central Bank must be consistent with the vision of the Federal Reserve and the American Treasury.”
He added, "There are efforts being made by the Central Bank of Iraq to reach merchants' remittances throughout the world."
Al-Kadhimi pointed out that "remittances issued by the Central Bank of Iraq to merchants to import goods continue despite American pressure."
Member of Parliamentary Finance, Mustafa Sanad, had previously confirmed that America is leading colonialism and international blackmail against Iraq by causing an increase in the dollar exchange rate, criticizing the silence of the political blocs regarding this. link
[via PDK] Question: Do we know why Iraqi delegates are coming to DC on Sun-Tues?? MarkZ answer: I believe it is for an announcement that will make us all very happy. At least we sure hope so.
[via PDK] We are painfully close…Lots of expectations for Sunday and Monday and those meetings on HCL agreements and with the US Treasury. Things are really appearing to be lining up perfectly. All eyes at this point are on the Sunday/Monday meetings in IRAQ…on HCL and they say they are addressing the exchange rate of the dinar
…we will see what comes of those
[via PDK] Question: Do you think it will RV before the 20th. MarkZ Answer: My gut says around the 20th…but sources say they believe it will be sooner. Getting all positive news – nothing negative. Comment: We are fixin to be blessed. MarkZ: I agree with you. Sudani said he was going to address the exchange rate and the strength of the dinar. He is telling us…now we just need to see it happen.
[via PDK] “US Treasury discusses with CBI foreign trade in three currencies other than the dollar” This is the US Treasury representative in Iraq and sitting down with Alaq. Of course they are working with the CBI and working through some things...They also discussed all the tremendous efforts Iraq has done to modernize their banking system. They can now track money laundering, bad guys ect…I am still hearing there are Fed Reps and State Dept Reps there as well as World Trade Organization Reps as well. ...I am hearing out of Iraq…That they are finalizing that rate change...I still believe everything is in place and they just need to flip a switch.
Iraq's exchange rate gap expected to widen further
Shafaq News / Economic experts in Iraq predict that the gap between the official and parallel exchange rates will widen in the coming days or weeks, with expectations that the dollar exchange rate will reach 160,000 dinars during this period.
Economic expert Nabil Al-Marsoumi stated, "It is expected that the gap between the official and parallel rates will increase in the coming days or weeks, especially after the release of funds in the 2023 budget and increased consumption and investment spending."
He explained that "previous conditions remain the same, meaning that as long as there are U.S. sanctions on Iran preventing official financial transfers through bank transfers to settle Iranian trade dues, the gap will remain large and widen with time."
Regarding Iranian exports to Iraq, Al-Marsoumi said, "Iranian exports to Iraq exceed $10 billion annually, and these are currently being financed from the parallel market, by collecting dollars from travelers and transferring them to Iran."
He added, "Iraqi travelers abroad spend $3.41 billion annually, and these individuals are prohibited from obtaining dollars at the official rate, so they resort to the parallel market."
Al-Marsoumi pointed out, "the current factors in Iraq indicate that the gap will increase, and no one would be surprised if the dollar exchange rate reaches 160,000 dinars in the coming weeks or months."
He concluded by saying, "Relying on measures by the Central Bank or the Iraqi government to narrow the gap is difficult to implement because the issue involves capabilities that neither the Iraqi government nor the Central Bank possess."
"The only solution to narrow the gap between the two rates is to lift U.S. sanctions on Iran, restore official transfers to Iran, or cut off foreign trade and prevent Iraqi travelers from traveling to Iran. Otherwise, the gap will continue to widen in the near and medium term.
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The exchange rate for the Iraqi dinar against the U.S. dollar touched 156,000 dinars for every 100 dollars with the closing of the central stock exchange in Baghdad on Thursday.