So what comes out in Iraqi news this period?
I talked many times about the Customs and Tariffs automation project that is underway in Iraq.
At that time, I was told it would never be successful unless the software to be used could be linked to FOREX in order to convert foreign currencies for payment with an up- to- the- second exchange rate against the Iraqi dinar.
It was told to us that this project, if successful, (and it will be) that the revenues collected could rival the oil revenues.
How could this be, I asked my contact in the CBI?
I was told this a true statement but there are obstacles to the implementation of this project because the districts of Iraq are still segmented too much and the revenues are not yet fully collected and placed in the coffers of the Central Government of Iraq (GOI) general fund.
Instead, mayors and governors of these districts have their hands out and corruption prevails.
This money belongs to all the people not just those who can control it.
So, this is a major obstacle.
So, today we see once yet more progress in this direction to overcome these obstacles and for the GOI and to control these revenues for collection into the general fund.
This should be a sign to us that they are nearing their goal of further stability and the GOI’s ability to control these revenues.
The work finally being done on agreements with the Oil and GAS law (or HCL) too are signs that they are now serious in meeting this constitutional goal too.
Oil revenues are nearly 90% of Iraq’s revenues right now.
{Political: Al-Furat News} Prime Minister Mohammed Shia Al-Sudani confirmed, on Saturday, that the customs automation project is an important basis and a starting point for the implementation of financial and banking reforms.
The Sudanese office said in a statement received by {Euphrates News} that “the Prime Minister was briefed on a detailed report explaining the progress of work in implementing the first phase of the implementation of the global system for the automation and modernization of customs (ACYCUDA), and the most prominent problems and challenges and ways to overcome them, leading to the application of the single window for foreign trade.
Then later yet another article comes out telling us the Kurdistan Regional Government announced, on Monday, the adoption of the Iraqi dinar in customs duties instead of the US dollar.
The Oil, Gas and Natural Resources Committee confirmed today, Tuesday, October 17, 2023, its need for 6 months in order to reach a draft oil and gas law that is consistent with all parties, while indicating that the committee formed by the Kurdistan Regional Government presented a vision about Oil and Gas Law to the Ministry of Oil.
This leakage of US dollars to Iran and other terrorists countries has to STOP or we will NOT see the reinstatement.
The governor must secure the dollar in his country first and then use the dinar as their national currency.
The later part is working but the sneaking of the dollar outside of Iraq is not.
Why not reinstate the dinar so Iraq could more “freely” pay for goods and services with other countries with their own dinar and totally ditch the dollar the damned currency auction?
Now since they delayed until January 2024 and then yet another crisis and then another crisis comes.
With each crisis comes yet another delay.
Will the Palestine terrorist attack on Israel delay it again?
Let’s take a look at this today.
The stability of the dollar against the Iraqi dinar.
This we are told is always the holdup of the reinstatement.
The Prime Minister met yesterday with the concerned authorities, to discuss the non-implementation of reform packages related to the price of the dollar, calling on Al-Sudani to take effective solutions like those issued by the Central Bank to control the dollar at border crossings and customs taxes.
So, do you see why the new system ACYCUDA project is so important and it’s implementation has progressed to a new higher priority.
Can they wait until January 2024 even to put ACYCUDA online.
Now it’s no longer just about generating and safeguarding the customs and tariffs fees to the GOI general fund but about the stability of the dollar.
The pressure and help from the US Treasury my help them to get this underway sooner than later.
The member of the Finance Committee pointed out that there are American political influences that exert pressure on Iraq to put pressure on it economically, regarding its support for the Palestinian cause and advocacy for the people of Gaza against the Zionist occupation,” stressing that “Iraq seeks to address that issue and put pressure on the US Federal Bank to provide amounts in dollars and at a specific time.
Do you see the crisis here?
He continued by saying, Iraq’s position on the Palestinian issue is firm and will not change, and we reject all Zionist crimes committed by the occupation against the Palestinians, and this is an irrevocable decision.
Either way, we can clearly see the impact this war will have on the reinstatement if it continues much longer.
So far, I am told by my CBI contract on my Saturday conversation, that the CBI is already holding up the re-education process they fully intended to roll out in mid-October.
As you already learned my CBI contact has been assigned to the CBI committee to work on this re-education process.
I have been told that so far the committee had come out with a couple deliverables to the governor and even met with Ali al-Alaq to review them with him.
The meeting went well.
They fulling intended to move ahead in mid-October.
They included:
1. Written news articles on how they would address the citizens and explain the steps involved.
They even have pictures of the newer lower denominations in these public news articles;
2. The committee also developed a comprehensive timetable for all the events leading up to the reinstatement.
But now I don’t know what is going on since they were expected to begin the re-education process this week as the timetable called for it.
Was the effort postponed?