Monday, October 2, 2023
Advisor Mazhar Saleh: Sovereign guarantees encourage the business environment in Iraq, 2 OCT
Advisor Mazhar Saleh: Sovereign guarantees encourage the business environment in Iraq
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, explained that the sovereign guarantees relate to covering the issue of default by sectoral entities, stressing that these guarantees are one of the factors of stability and encouraging the business environment in Iraq in a sustainable manner.
Saleh said that the sovereign guarantees granted by the state to various contracting parties express the government’s guarantee that the obligation between the contracting parties will be fulfilled in the event of the primary debtor’s failure to pay.
He added that sovereign guarantees are related to covering the issue of default on the part of sectoral entities, specifically government entities benefiting from the processing, contracting and construction work for investment projects with a strategic dimension. Sovereign guarantees can also cover all types of obligations and pledges in extensive detail, pointing out that sovereign guarantees are before they are granted in the law. The general budget is considered an integral part of financing by borrowing, and one of the components of public debt, in accordance with the international standard in describing government debt and the method of calculating it.
He pointed out that the granting of sovereign guarantees is carried out with great precision by the executive authority and in accordance with the strategic importance of guaranteeing major development projects and encouraging major companies and the business sector to work in our country.
He continued: Therefore, the sovereign guarantees granted by the state to the entities that prepare or implement projects constitute one of the factors for stabilizing and encouraging the business environment in Iraq in a sustainable manner, and removing obstacles and risks that impede development and economic progress, according to the strategic priority that requires granting sovereign guarantees or guarantees.
Prime Minister, Muhammad Shiaa Al-Sudani, confirmed earlier, during his meetings in New York, that the government will provide sovereign guarantees in the budget law to establish industrial and agricultural projects in Iraq. link
Jordan and Iraq are discussing enhancing economic and banking cooperation, 2 OCT
Jordan and Iraq are discussing enhancing economic and banking cooperation
Jordanian Prime Minister Bisher Al-Khasawneh discussed, on Sunday, with Ali Al-Alaq, Governor of the Central Bank of Iraq, who is visiting Amman, the strengthening of economic and banking cooperation between the two countries.
During the meeting, Al-Khasawneh noted the level of cooperation and relations between the Central Bank of Jordan and its Iraqi counterpart, and the two countries’ banking systems, which are distinguished, complementary and flexible relations, and are characterized by the highest governance controls, in a way that serves their common interests. For his part, the Governor of the Central Bank of Iraq stressed the depth of relations with Jordan in various fields.
It is noteworthy that the Governor of the Central Bank of Iraq began, earlier on Sunday, a two-day visit to Jordan, during which he will hold meetings with the Governor of the Central Bank of Jordan and a number of banking, financial and economic leaders in Jordan and institutions regulating electronic payment.
The visit will also include a Jordanian-Iraqi banking summit. ; To discuss economic relations between the two countries, and ways to strengthen them in the future.” link
JUDY NOTES, 2 OCT
Judy Note: This coming week the Stock Market was set to crash. Cyber Attacks such as recently happened in Las Vegas (though not covered by the Mainstream Media, including the ransom paid to hackers) could easily not only freeze the entire population’s bank accounts, but steal the monies inside them.
To add to our financial woes, Brazil, Russia, India, China, South Africa, Pakistan, India, Malaysia, Argentina, Iran and Iraq were rejecting use of the fiat US Dollar for international trade – which was creating a goods shortage in stores.
Be advised to stock up on cash, food, water and essentials – there’s a cold Winter ahead.
Rumored GCR Recent History:
Walkingstick (an Iraqi citizen and bank owner): “The tender for the currency and coins has been met per request, meaning (requirements) for release of the new Iraqi Dinar exchange rate has been fulfilled.”
Wolverine: “The funds have been released and placed on the Quantum Financial System.”
On Fri. 15 Sept. Iraq was rumored officially RVd their Dinar.
On Fri. 22 Sept. Iraq allegedly announced the new Iraqi Dinar International Rate as $11.90.
On that same Fri. 22 Sept. the Quantum Financial System was rumored to have taken over the Global Financial System.
On Sun. evening 24 Sept. the QFS was allegedly activated, with all funds gold backed.
On Thurs. 28 Sept. Iraq allegedly abolished the dollar in it’s currency auctions. …Central Bank of Iraq
“On Thurs. 28 Sept. a ten day process began of an automatic increase in the value of the Dinar.” …Frank 26
Fri. 29 Sept was a dramatic beginning of the Stock Market Crash. The Chinese Communist Party Defense Minister, plus theCEO of the World’s largest real estate company, the CCP’s Evergrande, have gone missing – that halted Evergrande Shares on a Stock Market that was already in free fall, while odds soared for a US Government shutdown by Sun. 1 Oct. – any, or all of which could easily bring on a Global Financial Crisis that would trigger a Global Currency Reset.
On Fri. 29 Sept. the HCL Oil payments to Iraqi citizens was allegedly being paid with an In-country Rate of $5+
Global Financial Crisis:
The Trigger For The Next Financial Implosion (rumormillnews.com)
Rothschild controlled Central Banks have been lowering the purchase power of currencies around the world for a century so their ‘little club’ becomes more powerful and more powerful.
Sat. 30 Sept. BREAKING: The QFS Warning You Can’t Afford to Ignore! – American Media Group (amg-news.com)
Iran: The US dollar is a tool of US hegemony, and we will no longer use it in our international trade.” – Ebrahim Raisi, President of Iran.
Turkey: We are reducing our dependence on the US dollar and increasing our use of other currencies, such as the Euro and the Chinese yuan.” – Naci Ağbal, Governor of the Central Bank of the Republic of Turkey.
India: We are working to promote the use of the Indian rupee in international trade and investment. We want to reduce our dependence on the US dollar.” – Nirmala Sitharaman, Finance Minister of India.
Brazil and Argentina: Brazil and Argentina have agreed to settle trade in their local currencies, the real and the peso, respectively.
India and Malaysia: India and Malaysia have also agreed to settle trade in their local currencies, the rupee and the ringgit, respectively.
China, Russia, India, Pakistan: The Shanghai Cooperation Organization (SCO): The SCO, a security bloc that includes China, Russia, India, Pakistan, and several other Central Asian countries, is also working to develop its own alternative to the US-dominated global financial system.
The BRICS (Brazil, Russia, India, China, and South Africa): The BRICS have agreed to develop their own alternative to the US-dominated global financial system, including a new currency.
The Cabal system is collapsing. The end of slavery, hegemony, taxes, inflation, monarchs. https://x.com/prolotario1/status/1708311075781775394?s=46
"RV UPDATE" BY MARKZ & KAPERONI, 2 OCT
MarkZ
[via PDK] I continue to hear we will not have taxes on this exchange. I suggest everyone plan on having taxes…but hopefully there will be none.
[NOTE: Some gurus feel this will be taxed as ordinary income, others feel capital gains. The only opinion that matters is the IRS's. Always consult with your tax professionals at the appropriate time to figure out the right tax for your unique situation.]
Question: Does the RV (Revaluation) have to happen before Iraq ascends to the World Trade organization on Oct. 4th?
Not...but the dinar has to be a fully accepted international currency all around the world without any restrictions…this would be a massive change.
Kaperoni
Question: "What if anything is Iraq doing to reduce the note count...isn’t a reduction of the note count required before a float can occur?"
It's very difficult for Iraq to reduce their money supply due to the current monetary policy.
Remember, the currency auctions are a balance between dinars and dollars in order to maintain the exchange rate...Using dinar in international transactions would give them the freedom to unpeg and end auctions.
I think the most important thing for Iraq to do is to diversify their economy...
...In order for Iraq to go international they'll have to be IMF Article VIII compliant. They're not close with a current market rate of 1152 which is over 18% from the official rate. Well out of compliance.
Prime minister says development road is a strategic endeavor for the Iraqi government, 2 OCT
Prime minister says development road is a strategic endeavor for the Iraqi government, 2 OCT
Shafaq News/ Iraq's Prime Minister Mohammed Shia al-Sudani on Sunday said that the Development Road project is a vital and strategic endeavor that his government deems a priority in its program.
This came during his meeting with Turkish Minister of Transport, Abdülkadir Önal Oğlu, who is visiting the capital, Baghdad, for talks on the international transit route Turkey plans to establish in cooperation with Iraq.
A press release by al-Sudani's bureau quoted him saying that the execution of the Development Road project will enhance the ties between Iraq, Turkey, and other regional actors that share common interests.
"This is the most efficient, shortest, and cost-effective corridor for transportation, transit, and linking the Middle East with Europe," he said.
Al-Sudani expressed gratitude for Turkey's keen interest in participating in this strategic project, encouraging further technical dialogues between the two countries to formulate the economic model through which the project will be executed.
The Turkish minister reiterated his country's willingness to actively partake in the Development Road project and conveyed his government's satisfaction with Iraq's plans, substantial steps, and constructive efforts to revitalize and reform the Iraqi economy.
EXCERPTS FROM MAJEED , 26 NOV
EXCERPTS FROM MAJEED By the way, they voted on the three years budget Where I found the 2025 budget table items Which gave me the same ra...
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...