Sudanese Advisor: America Gives Us Instructions And Does Not Impose Pressure On The Dollar Issue, 15 OCT

 Sudanese Advisor: America Gives Us Instructions And Does Not Impose Pressure On The Dollar Issue

Politics   10/15/2023 Number of readings: 189   Baghdad - Iraq Today:  Muhammad al-Najjar, advisor to the Prime Minister for Investment Affairs, stressed that the method of cash in Iraq must be electronic, noting that the US Federal Reserve’s instructions to Iraqi banks were years ago, but previous governments “ignored” them.”

Regarding the impact of the dollar exchange rate on internal investment in Iraq, Al-Najjar said in a press interview that this problem produced confusion in the market at the beginning of its appearance, due to the presence of contracts signed in dollars, but now it has “adjusted” because most of the contracts, especially the executive ones, were signed in Iraqi dinars, indicating that the issue The effect will decrease until the old contracts signed in US currency expire.

He pointed out that countries around the world approve contracts in local currency, with exceptions, according to the type of project.

Regarding the possibility of controlling the dollar exchange rate or not, he commented that this is “related to the transfer of a culture, from paper to electronic, and this process takes time,” stressing the need for the method of cash in Iraq to be electronic and not as is prevalent through paper currency.

The Prime Minister's Advisor for Investment Affairs pointed out that “some are trying to exploit this stage,” pointing out that the process of transferring from cash to data “is in the interest of the Iraqi state to control and track funds, especially in light of the existing financial corruption.”

Regarding the US Federal Reserve’s pressure on Iraq, Muhammad al-Najjar considered it “instructions, not pressures,” adding that the US government has the right to set controls on the use of its currency.

He continued: “The US Federal Reserve had requested these demands from Iraq several years ago, and previous governments had constantly ignored them, but now it has become unhealthy for these practices to continue, which have led to a large scale of financial corruption because the amounts cannot be tracked."

Regarding the Iraqi government's vision in the field of investment, he revealed that the Board of Directors of the Iraq Fund for Development will approve it in the next session of the Council of Ministers, after approving the bylaws, noting that the delay came due to the delay in approving the budget.

He added: “After the Board of Directors is approved, the executive director of the fund will be appointed to launch investment projects, the results of which we will see at the beginning of next year.”

The Iraq Fund for Development promised that it would serve as “a middle ground between ministries and provide funding to individual innovators and grant loans to young people to start new projects.”

He explained that the government is working on several programs to reach a strategic plan on how to activate and employ graduates annually, in order to train them professionally in preparation for new specializations that the government will need in the future, such as information technology, adding that the final plan for the total absorption of graduates does not yet exist.  LINK

The Forces of Representatives: A Global Rally for Palestine, 15 OCT

 The world watches with bated breath as citizens rally behind ‘The Forces of Representatives’, a new phenomenon sweeping across global communities. This is not a political movement or a revolution, but a stirring of hearts, a collective sentiment echoing the Palestinian cause. The hashtag #InSolidarityWithPalestine trends on social media, a digital battle cry resonating in the ether.

Diplomatic Outcry

Several nations, including Algeria, Brazil, Colombia, Cuba, Iraq, Iran, Ireland, Kuwait, Morocco, Malaysia, Norway, Oman, Qatar, and South Africa, have voiced their concern over the escalating violence in Gaza. They have urged Israel to cease its aggression and work towards a ceasefire. The call for a two-state solution resonates around the world, a solution that seems increasingly elusive amidst the turmoil.

Waning Faith

However, surveys reveal an alarming trend. The faith in a two-state solution is dwindling not just amongst Israelis, both Arab and Jewish, but also within the Palestinian population. The belief in dialogue and negotiations is being replaced by a grim resolve favoring armed struggle to establish an independent state. Yet, amidst the despair, the rallying cry of ‘The Forces of Representatives’ continues to echo, a testament to the resilience of human spirit.

Challenges and Threats

Palestinian Americans and activists advocating for Palestinian rights are facing a growing menace. Personal information is released without consent, leading to doxxing and harassment. Yet, they persist, their voices refusing to be stifled, their determination unbroken. In Kansas City, residents, including many from the local Palestinian community, gathered in support of Palestine, their voices a poignant demand for an end to the Israeli occupation.

Global Power Play

Meanwhile, China maintains a stance of neutrality, a strategic move to curry favor with Arab states and further its own global agenda. The Israeli-Palestinian conflict is no longer just about two nations. It has become a global chessboard, with powerful players maneuvering for advantage. Yet, amidst the political power play, ‘The Forces of Representatives’ continue their relentless rally, a beacon of hope in the swirling storm of conflict.

https://bnn.network/world/the-forces-of-representatives-a-global-rally-for-palestine/

Vietnam Dong 🔥 Vietnam Dong rate update 🔥 today Vietnam dong rate update

On the Precipice: US Fears Israel-Hamas Conflict Could Ignite Wider War, 15 OCT

 On the Precipice: US Fears Israel-Hamas Conflict Could Ignite Wider War

In the hushed chambers of the United States’ highest echelons of power, fear is taking root. A specter of a broader conflict hangs heavy over the Middle East, as the intensifying conflict between Israel and Hamas threatens to pull in other regional actors, potentially sparking a conflagration that could engulf the entire region.

The Unfolding Crisis

Israel, a small yet powerful nation, is readying its troops for a ground assault on Gaza, escalating its response to Hamas attacks. This move follows a punishing bombing campaign, a retaliation for a barrage of missiles launched by Hamas that claimed countless Israeli lives. The US, Israel’s staunch ally, watches warily, anxious about the potential for this localized conflict to spiral out of control.

Simultaneously, the US is working tirelessly to ensure that Palestinians trapped in the besieged Gaza Strip aren’t left without access to basic necessities amidst the escalating violence. There’s a palpable urgency to these efforts, an acknowledgment of the humanitarian crisis unfolding before the world’s eyes.

The International Response

As the situation deteriorates, the US is preparing to bolster its allies with a significant new weapons package. Estimated to be worth significantly more than $2 billion, this package is meant to strengthen Israel and Ukraine, offering them support in their respective conflicts. However, these preparations are accompanied by a fervent dialogue about how to best protect civilians caught in the crossfire and evacuate American citizens from the danger zone.

The message from the US is clear: while it remains committed to Israel’s security, it is equally committed to preventing civilian casualties and working towards a peaceful resolution of the conflict. The Biden Administration is balancing its support for Israel with a deep-seated concern for the preservation of human lives and the cessation of hostilities.

The Gathering Storm

Yet, beneath the surface, a more ominous reality is forming. There’s a dark undercurrent to the crisis, a fear that Hezbollah or Iran might seize this moment of turmoil to further their agendas. Iran’s Foreign Minister Hossein Amir Abdollahian has warned of potential escalation if the attacks on Gaza aren’t halted, a statement that has sent ripples of concern through the international community.

Already, clashes between Hezbollah and the Israeli army along the Lebanon border have intensified, causing casualties on both sides. To deter hostile actions and prevent the war from widening, the US is deploying a second aircraft carrier to the eastern Mediterranean, while sending Special Operations forces to Israel to assist with potential hostage rescue operations.

The Fragile Balance

In this volatile scenario, the US is reinforcing its military presence in the region, closely monitoring Hezbollah forces in Lebanon, and Iran-backed militias in Iraq and Syria. The fear of an Israeli invasion of Gaza spiraling into a broader conflict involving Iran and other proxy groups is ever-present.

Yet, amid this chaos, the US remains committed to ensuring the safety of civilians and working towards a peaceful resolution. It’s a treacherous tightrope walk, balancing the protection of allies, the prevention of a larger conflict, and the sanctity of human life. As the world watches with bated breath, only time will tell if this delicate balance can be maintained.

https://bnn.network/world/israel/on-the-precipice-us-fears-israel-hamas-conflict-could-ignite-wider-war/

After The Dollar Jumped, Experts Explain The Reasons And Solutions That May Reduce It To 1,300 Dinars, 15 OCT

 After The Dollar Jumped, Experts Explain The Reasons And Solutions That May Reduce It To 1,300 Dinars

Posted On2023-10-15 By Sotaliraq    Ali Al-Hamdani  Experts in the Iraqi economy expect that the crisis of the rise in the exchange rate of the US dollar against the Iraqi dinar will continue for several reasons, most notably commercial dealings with sanctioned countries, the evasion of taxes and customs by speculators and small traders, and the obstacles surrounding the relationship between banks and customers, including merchants, importers, and others, calling for a package to be taken. Measures, including those that may contribute to reducing the exchange rate to 1,300 dinars.

On Thursday, the dollar exchange rates on the Al-Kifah and Al-Harithiya stock exchanges recorded 160,400 dinars for 100 dollars, while in exchange shops in the local markets in Baghdad, the selling price reached 161,500 Iraqi dinars, while the purchasing price reached 159,500 dinars for every 100 dollars.

In Erbil, the selling price in banking shops was 160,400 dinars for 100 dollars, and the purchase price was 160,300 dinars for 100 dollars.

Causes of the dollar crisis

Researcher and writer, Halim Salman, attributes the dollar crisis and the exchange rate difference to “international restrictions imposed on trade with some neighboring countries, which causes pressure on the parallel market, and other reasons related to speculators and small merchants who escape taxes, customs, etc.”

Salman adds to (Al Mada), “In addition to the obstacles surrounding the relationship between banks and customers, merchants and importers, which result in difficulties in opening accounts, forcing some of them to go to the parallel market to obtain dollars for ease.”

He continues, “In addition to the behavior of the Iraqi individual to keep the dollar due to weak confidence in his national currency, this is the result of weak confidence in the banking system, and the problems of the blockade and conflicts that arose previously, which cast a shadow on the citizen’s confidence in his national currency.”

Solutions to the dollar problem

For his part, the financial and economic expert, Mahmoud Dagher, rules out solving the dollar problem “except by controlling the borders, completing the unified customs wall for all of Iraq, and ending the existence of two customs and two border crossings, one of which belongs to Baghdad and the other to the region.”

Dagher confirms to (Al Mada), “After the platform and compliance with the rules of international transfer, the dollar crisis cannot be ended as long as there are sanctioned entities that the country deals with, which requires stopping trade with these entities or at least establishing a customs wall with them, otherwise the crisis will continue.”

In turn, the economic researcher, Dr. Ali Daadush, explains that “the solution to prevent the crisis from escalating is through concerted efforts between the Central Bank and the government, and by meeting the former with his Iranian counterpart and determining dealing in the two countries’ currencies (the dinar and the toman), and setting a fixed exchange rate for commercial transactions that amount to approximately 11 billion dollars annually.” That is, about (14.5) trillion Iraqi dinars.

Speaking to Al Mada, Daadoush stressed the importance of “controlling border crossings and placing a customs wall linked electronically to the government treasury, accompanied by the operation of factories and laboratories to produce local goods and services in accordance with international market standards.” For his part, economic researcher, Abdul Salam Hassan Hussein, says, “The dollar continues to rise because it has become a trade, not to mention it is smuggled openly to neighboring countries, and the events that took place in Palestine will also affect it.”

Hussein believes, while speaking to (Al Mada), that “the central bank is unable to address this problem, and its danger lies in the fact that money exchange offices are buying large amounts of dollars.” At the conclusion of his speech, he confirms that “the exchange rate can be reduced to 130 thousand dinars through a program to fight the dollar,” indicating that “the program includes a secret numbering to control the pumping of money and the distribution of the dollar,” expressing his readiness to “present it to the Prime Minister for fear of revealing it and he will benefit from it.” The powerful and the corrupt,” he said. LINK

HCL Still Being Reviewed?💣RI IQD Rate = $4.00+!?🤔Iraq Dinar RV Updates |...

Dawn of a New Era: Iraq’s Stride Towards Energy Independence, 15 OCT

 Dawn of a New Era: Iraq’s Stride Towards Energy Independence, 15 OCT

As the sun set over the Tigris River, painting the horizon with hues of gold and orange, a new dawn was quietly breaking in Iraq’s energy sector. In an unassuming ceremony in February, the ink dried on three energy contracts between Iraq and UAE-based Crescent Petroleum. The contracts, a harbinger of change, were set to develop three oil and gas fields in the ancient lands of Basra and Diyala.

Breaking Free from the Chains of Dependence

These 20-year contracts are not just a promise of economic progress but are also a beacon of hope. They are expected to start churning out 400 million standard cubic feet of natural gas daily within 18 months, breathing new life into Iraq’s energy landscape. This development holds great significance, as it will help Iraq reduce its reliance on Iranian gas imports, a dependence that has long been a thorn in its side.

A Step towards Self-Sufficiency

“Our operations will stop gas flaring and use the processed gas to generate electricity,” said Hayan Abdel-Ghani, Iraq’s Oil Minister, his eyes gleaming with anticipation. For a country that has been heavily dependent on Iranian gas imports to power its grid, this is no small feat. It is a bold stride towards self-sufficiency, a step away from the shackles of dependence. Moreover, this development aligns with the United States’ urging Iraq to reduce its reliance on Iran.

Transforming the Energy Landscape

The joint venture between Iraq and Crescent Petroleum is more than just a business deal. It signifies a transformative phase in the country’s energy landscape, a shift in its geopolitical alliances, and a stride towards energy independence. The partnership heralds a new era where Iraq is not just a playground for power politics but a key player in the global energy arena.

Charting a New Course

As Iraq charts a new course, there will undoubtedly be challenges and hurdles to overcome. However, the promise of a brighter, more independent future provides the impetus to persevere. The country stands at a critical juncture, ready to harness its own resources and dictate its own destiny. With these contracts, Iraq is not just tapping into its oil and gas fields; it’s tapping into its potential, signaling to the world that it’s ready to take its place on the world stage.

https://bnn.network/world/iraq/dawn-of-a-new-era-iraqs-stride-towards-energy-independence/