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)

https://shafaq.com/en/Report/Turkey-Iraq-Development-Road-is-the-key-Europe-Middle-East-link-report-says

"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...

Plans for historic GCC-Iran-Iraq dinner in New York collapse, 23 SEPT

Plans for historic GCC-Iran-Iraq dinner in New York collapse, 23 SEPT

 Shafaq News/ Plans for a historic meeting in New York gathering the foreign ministers of Gulf Arab states, Iran and Iraq have collapsed at the last minute, Amwaj.media reported on Saturday.

United Nations Secretary-General Antonio Guterres was set to chair the session on Sept. 23. But an escalating dispute between Iraq and Kuwait has put a stop to the endeavor, informed sources told the UK-based website. As the meeting is “unlikely” at this point, a senior political source in New York said, “worst-case scenarios are being prepared.”

Regional diplomacy

While the recent Iran-US prisoner swap has grabbed headlines, a meeting of chief diplomats from Gulf Cooperation Council (GCC) member states, Iran and Iraq scheduled for this week had been expected to be a crowning achievement for regional engagement.

The Sept. 23 session was initially envisioned as a lunch, informed sources told Amwaj.media, but was later confirmed as a dinner. Formal invitations were sent out to all eight participants earlier this month. A regional diplomatic source said the session was to be convened under UN Security Council Resolution 598, which calls for the establishment of Regional Dialogue Fora, with Secretary-General Guterres as chair.

The plans for the GCC-Iran-Iraq dinner in New York had been marred by three sets of issues, Amwaj.media has learned.

Initially, the initiative was hit by apparent divisions on whether to proceed with it at this time. Diplomatic sources in the region underscored that Iran and Saudi Arabia—regional rivals which in March agreed to normalize ties after seven years of estrangement—backed the meeting. But some GCC member states were seemingly expressing doubts about the purpose and timing of the session, a diplomatic source in the region previously told Amwaj.media.

Part of the contention revolved around the different perceptions of what the meeting was about. In late August, Iranian Deputy Foreign Minister Ali Baqeri-Kani said it would facilitate the “soft exit” of the US from the region, while highlighting that it would take place despite US “interference” geared to shape the agenda in line with American “interests.” But political insiders have portrayed a wholly different picture of regional dynamics.

One senior source previously told Amwaj.media that Saudi Arabia and other GCC states are in fact asking Washington for more security assurances while welcoming the recent US deployment of more troops. Of note, as part of its talks with the Joe Biden administration on normalization with Israel, the Kingdom reportedly wants “NATO-level” security guarantees. Moreover, amid rising tension with Iran over the Islamic Revolutionary Guard Corps’ (IRGC) ship seizures, the Pentagon last month added 3,000 sailors and marines to the region.

While the internal GCC obstacle to the dinner was overcome, the recent flaring up of a dispute between Iraq and Kuwait over maritime boundaries seems to have collapsed the plans for the Sept. 23 dinner.

Iraq’s federal supreme court on Sept. 4 ruled that the Iraqi parliament’s 2013 ratification of a 2012 agreement on the shared Khor Abdullah waterway was “unconstitutional.” The ruling promptly sparked escalating contention between the two neighbors. At a Sept. 21 meeting in New York, Kuwait’s prime minister told his Iraqi counterpart that Baghdad must adopt “concrete, decisive, and urgent measures” to “address historical fallacies against Kuwait” in the court ruling. Kuwait has also been quick to seek support from its GCC and western allies. The sheikhdom’s foreign minister on Sept. 20 met with his Gulf Arab and US counterparts in New York, with the session resulting in a joint statement urging Iraq to “finalize the demarcation” of the maritime border with Kuwait.

Since the Iraqi court ruling followed an appeal lodged by a political affiliate of an Iran-backed armed group, some observers have linked the timing of events to Tehran’s ongoing dispute with Kuwait and Saudi Arabia over an offshore gas field.

Last year, Kuwait and Saudi Arabia signed a breakthrough deal to develop their portion of the Arash/Dorra field, which is located in the neutral zone between the two Gulf Arab states. Iran reacted to the announcement of the Kuwaiti-Saudi agreement by questioning its legality. Tehran also noted that parts of the field extend into waters between Kuwait and Iran “whose boundaries have not been defined.” Tensions further escalated in July after Saudi sources asserted that the Kingdom and Kuwait would act as “a single negotiating party” in dealings with the Islamic Republic. The contention over Arash/Dorra highlights how GCC-Iran contentions remain despite the widening détente over the past year.

Beyond the Iraq-Kuwait dispute, the plans for the Sept. 23 dinner are also said to have been marred by scheduling issues, with at least one foreign minister unable to attend the gathering due to prior plans. 

A meeting of regional foreign ministers in New York would have been a diplomatic victory for Iran, which has long sought the establishment of Regional Dialogue Fora under UN Security Council Resolution 598.

The Ebrahim Raisi administration has over the past years hailed what is characterized as a US failure to isolate the Islamic Republic, pointing to Iran’s accession to the Shanghai Cooperation Organization (SCO), rapprochement with Saudi Arabia, and recent invitation to join the BRICS group of countries.

However, while a regional ministerial meeting in New York would have been a major step forward, the fundamental question is what may follow such a session. The Iranian rapprochement with Saudi Arabia may be advancing, but it is doing so far behind schedule. Meanwhile, Saudi sources have previously said that no “exemptions” from US sanctions will be sought, indicating that the economic dividends associated with the rapprochement are unlikely without an Iran-US détente. As such, much of the Arab-Iranian engagement remains beholden to external factors.

With the plans for the Sept. 23 dinner having fallen through, Iran and Arab states that are willing to meet in a multilateral setting are faced with several options. They could delay a ministerial meeting until a more appropriate time, or proceed down the line in a different format—possibly at a lower level, with fewer participants and potentially outside the UN umbrella.

One key question in the latter scenario would pertain to the hosting, especially if the dialogue is to be held within the region. The trend in recent years clearly indicates a strong preference to “localize” regional dialogue, with the Baghdad Conference on track to become a regular occurrence, while other more established international gatherings such as the Manama Dialogue and the Doha Forum have also made a name for themselves. In this context, Oman and Qatar are the obvious options for possible hosts.

Speaking on condition of anonymity, one political source in the region previously hinted to Amwaj.media that a meeting of a smaller group may in fact be preferable given the higher chances of consent among the participants. Another senior source posited that the first meeting of Arab and Iranian top diplomats—whether among all eight foreign ministers or in a more limited format—should involve “the preparation of a statement that includes generalities that are not controversial.” But there will nonetheless need to be an understanding to eventually tackle issues that are prioritized by all sides. If the Iraq-Kuwait and Iran-Kuwait-Saudi disputes are any indication, maritime boundaries may be in need of renewed attention."

(Amwaj Media)

https://shafaq.com/en/Iraq-News/Plans-for-historic-GCC-Iran-Iraq-dinner-in-New-York-collapse

IRAQ - NATURAL PLACE IN INTERNATIONAL COMMUNITY - EXCHANGE RATE TO COME by MILITIAMAN, 23 SEPT

The Price Of The Dollar Fell Against The Dinar In The Markets Of Baghdad And Erbil , 23 sept

 The Price Of The Dollar Fell Against The Dinar In The Markets Of Baghdad And Erbil

2023-09-23 03:03  Shafaq News/ Dollar prices decreased today, Saturday, in Baghdad markets and in Erbil, the capital of the Kurdistan Region.

Shafaq News correspondent said that dollar prices fell with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 155,200 dinars against 100 dollars, while prices last Thursday were 156,000 dinars against 100 dollars.

Our correspondent indicated that the selling prices in the exchange shops in the local markets in Baghdad decreased, as the selling price reached 156,250 Iraqi dinars, while the purchasing price reached 154,250 dinars for every 100 dollars.

As for Erbil, the stock market does not trade on official holidays, but the dollar recorded in banking shops is the selling price of 155,100 dinars against the dollar, and the purchase price of 155,000 dinars against 100 dollars.  LINK

Weekend News with MarkZ 09/23/2023

Weekend News with MarkZ 

Some highlights by PDK-Not verbatim

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

Member:  Morning Mark, Mods, Patriots and Gurus!

MZ: We talk to Matt and Lucas for awhile and then dive into the news from the week around 40 minutes into the podcast.

Member: Rumors out there that Iraq has already RV’d and posted the rate in the Gazette.

MZ: It is not in the Gazette yet…..they have not done it yet…..someone is crying “wolf” to soon…imo

MZ: But….the chatter has been over the top including the bond side this weekend. 

MZ: Most of my bond folks are looking for it this coming week with an outside date of Oct. 8th…but…..some of those bond folks were late to the bond game and were told they would go “post RV” meaning those bond folks late to join the line would go a few days after the event. 

MZ: Group leaders are really not saying much. 

MZ: The chatter in Iraq right now is for a rate change early in the week . there is a lot of reporting out there that it has already happened but I can tell you (from contacts on the ground over there) that it has not occurred yet…..the frenzy is whipping up for certain but, it has not gone yet. 

MZ: Nader was pointing that out as well that it is not in the Gazette yet. He also believes there are no redemption centers-just banks. This is one of those things that is just “terminology” . 

MZ: When I say redemption centers ….I am saying this is a bank with specially trained staff  and equipment to verify currency on premises….so we don’t have to send it off to be verified. That’s what I call redemption centers. Maybe I should start calling them “redeeming banks?” 

MZ: So a redemption center is a bank in the region …in your area…that is specially equipped and set up with the people who have been trained to handle it.   This difference in terminology causes a tremendous amount of confusion. 

Member: Mark has always said these are locations set up by the banks for our privacy and security…maybe in offices at bank branches or empty buildings to use during our 30 day exchange process…….maybe some on military bases but still with the banks….

Member: If I hear “this is our week” one more time I;m going to burst with frustration. 

MZ: Noone knows the exact date….they cloud things on purpose. But things look great and there is a “potential” for it to happen soon…..

MZ: MilitiaMan also did a great video for certain. I haighly suggest everyone support and share these intel providers.  I will work on having him on again early in the week to compare what he has heard with what I have heard. 

MZ: “Iraq to reopen embassy in Vietnam” . This is good news and showing their ties. Vietnam and Iraq are both major trading partners and of course we expect both currencies to revalue at the same time….

MZ: Going back to the video MilitiaMan did…”A natural place in the international Community”  Reopening embassies is important….If Iraq is going to be international player…they are going to need an “International Currency”

Member: Is Sudani back in Iraq?

Member:  Militia man posted an article this am in Patreon that Sudani is already back in Iraq

MZ: I heard he 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. 

MZ: “Iraq’s Prime Minister talks to CNN about the future of his country’s relationship with the US”  So they are starting to cover stories like this even in the MSM. This is showing Iraq is coming to the world stage. 

Member:  Wanting to know what Canadian Banks deal with RV?

Member: Most likely RBC, Bank of NS maybe CIBC or HSBC but won't know for sure until it happens

Member: Any work on the rate of the Venezuelan bolivar…

MZ: Not yet , but it is interesting that they came out with a new series of notes….with less zeros on it. I will bring the article over first thing on Monday morning….for these new notes to have value – their currency value on the bolivar is going to have to change substantially for them to use those “Venezuela unveils new currency with 6 fewer zeros”  

Member: Just like Iraq and their new lower denominations…..

Member: I wonder if there will be trillionaires after the RV?

MZ: What I was told is (from someone at the top) that it will create a bunch of Millionaires…and .a handful of Billionaires …..that is what I was told. I do not expect the Zim rate to be 1 to 1 with the US dollar. Zimbabwe also uses the term dollar….but a Zimbabwe dollar is worth far lass than a US dollar but it causes a great deal of confusion. But the payout will still be exciting and amazing. The Zim still has tremendous potential….

Member: You thought one Zim 100T note would be worth 30 million US dollars at one point….that is so amazing. 

Member:  Saturday- Banks and online payment systems will suffer an outage in Europe and the United States spreading worldwide. Talks of a Liquidity and credit crisis happening will spread rapidly.

Member:  Late-Sunday night Euro-zone banks will suffer a liquidity issue and fail critical margin levels.

Member: Remember that old Bloomberg article that said one Saturday night when all the banks worldwide are closed….they will change the rates and we would all wake up some Monday morning to a whole new world…..maybe tonight is that night. 

Member: May everyone have a great weekend! Stay positive…..

Member: God bless..and everyone stay safe. 

“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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Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL MONDAY MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

Its inability was exposed.. The Central Bank’s procedures confuse the Iraqi monetary sector, 23 SEPT

 Its inability was exposed.. The Central Bank’s procedures confuse the Iraqi monetary sector

On Friday, economic expert Ziad Al-Hashimi highlighted the challenges faced by the Iraqi monetary and banking sector. He pointed out that the Central Bank’s pressure measures, which apply to all banking companies without differentiation between compliant and defaulting ones, create confusion in a monetary work environment that is not managed or monitored accurately and clearly by the central bank.

Al-Hashemi, speaking to “Jarida”, highlighted one of the key challenges faced by the Iraqi monetary and banking sector. He pointed out that the Central Bank and local banks have been unable to create an effective and appealing banking environment with competitive costs that can earn the trust of citizens. The sector needs to provide flexible and smooth banking services that encourage citizens to deal with banks instead of resorting to exchange companies for cash services.

He went on to say that the Central Bank has not yet been able to establish clear and specific standards for evaluating the work and performance of exchange companies, which makes it difficult to distinguish between compliant and negligent companies.

According to the economic expert, the Central Bank’s pressure measures were applied to all banking companies, causing harm and restrictions even on those who adhere to central controls and maintain a high level of compliance.

Al-Hashimi stated that a lack of accurate and clear management and monitoring by the Central Bank creates confusion and uncertainty in monetary business environment.