“The Dinar Is Stronger Than The Dollar.” The Hypothesis That Is Absent From Reality!
Special Sumerian 2023-11-04 | 2,091 views Everything has become high because of the dollar, a dangerous trade recession that the country is experiencing, amid warnings of an economic slide that may worsen the situation in the coming days.
According to experts, traders affiliated with influential parties and entities are the only beneficiaries of the platform affiliated with the Central Bank, and the government must come out immediately and be honest with the people about the truth of what is happening.
By simple calculation, the Central Bank sells an estimated two hundred thousand dollars daily, meaning that the daily profits of speculators are estimated at forty thousand dollars, reaching their total monthly. One million two hundred thousand dollars, which is equivalent to about two billion Iraqi dinars net for speculators per month. LINK
I was in Philadelphia, I went to Chase to deposit money and decided to ask if they exchange foreign currency, the branch manager immediately had me talk to a private banker who set up an appointment for me and my husband to speak to a private banker in wealth management...
we went yesterday we’re treated so nicely! We were told they currently exchange Dong along with other currencies we hold. She knew all about the IQD and we were told once it’s on OFX - FOREX and the rate changes to call and they will have everything set up for us to come in and exchange.
Iraq Eyes Economic Diversification: New International Partnerships Extend Beyond Defense
In a significant policy shift, the Prime Minister of Iraq, Mohammed Shia’ Al-Sudani, recently announced that the nation’s new international collaborations extend beyond defense and security. Al-Sudani emphasized that Iraq has blossomed into an attractive destination for global firms to invest and operate, particularly in the energy sector, signaling a rising tide of international confidence in the Iraqi economy.
Shifting Focus: Beyond Oil
Historically reliant on oil revenues, Iraq is now making strident efforts to diversify its economy. The government is actively courting foreign investment in sectors such as infrastructure, agriculture, and tourism, recognizing the untapped potential within these areas.
Energy: A Hotspot for Investment
Despite being a major exporter with one of the world’s largest oil reserves, Iraq is seeking to bolster its energy production and branch out into renewable energy. With abundant sunlight and wind resources, it offers an ideal location for solar and wind power projects, and is providing incentives and tax breaks to magnetize global investment.
Infrastructure, Agriculture, and Tourism: New Frontiers
Infrastructure remains a key concern, with many parts of Iraq still lacking basic services such as electricity, water, and transportation. The government is actively seeking international partnerships for these projects. Opportunities also abound in agriculture, with the government promoting investment in modern farming techniques to boost production and trim reliance on imports. Tourism, despite being hampered by years of conflict, is another sector being primed for investment, with new attractions and cultural events planned to draw in visitors.
Iraq: The Gateway to Asia and Europe
Al-Sudani’s announcement underscores Iraq’s strategic location, serving as a conduit for trade and investment between Asia and Europe. Already a member of the Asian Infrastructure Investment Bank, Iraq has inked agreements with several nations to boost trade and investment, while also courting European firms.
Prime Minister Al-Sudani’s announcement shows Iraq’s commitment to attracting foreign investment and diversifying its economy. The nation’s untapped potential, coupled with its strategic location, positions it as an attractive destination for trade and investment. With the right strategies, Iraq could become a significant regional player, contributing to a broader regional prosperity.
Iraq is ranked third among the largest oil exporters to America
The US Energy Information Administration announced on Saturday that Iraq's oil exports to America rose over the past week.
The administration's latest table showed that the average US imports of crude oil during the past week from nine major countries amounted to 5.645 million barrels per day, an increase of 392 thousand barrels per day from the previous week, which amounted to 5.253 million barrels per day.
He added that Iraq's oil exports to America amounted to 351 thousand barrels per day last week, an increase of 169 thousand barrels per day from the previous week, which reached an average of 182 thousand barrels per day.
He pointed out that most of America's oil revenues during the past week came from Canada at an average of 3,485 million barrels per day, followed by Mexico with an average of 1,004 million barrels per day, and oil revenues from Saudi Arabia amounted to an average of 294 thousand barrels per day, and then Brazil with an average of 168 thousand barrels per day.
According to the administration, the amount of American imports of crude oil from Ecuador is at a rate of 133 thousand barrels per day, from Libya at a rate of 106 thousand barrels per day, from Colombia at a rate of 74 thousand barrels per day, and from Nigeria at a rate of 30 thousand barrels per day, while no quantity is imported from Russia. link
Iraq’s Ministry of Planning Steps Up to Resolve Lagging Project Issues, 4 NOV
In a decisive move to expedite the development in Iraq, Prime Minister Muhammad Shiaa Al-Sudani has directed the Ministry of Planning to resolve the issues with lagging projects. The Deputy Prime Minister and Minister of Planning, Muhammad Ali Tamim, has taken up the task and formed a committee which has already resolved issues with 400 projects, leaving 1,063 projects still in need of solutions.
Committees to Tackle Lagging Projects
In response to the Prime Minister’s directive, the Minister of Planning has set up a committee comprising of several members including the head of the Integrity Commission and the head of the Financial Supervision Bureau. Their main objective is to investigate the reasons behind the delay in these projects. Out of the 1,452 lagging projects, 562 are associated with various ministries and the investment program, while the remaining 501 projects fall under the development program.
Apart from this, a second committee, the Diwani Order Committee 45, has been established, primarily dealing with lagging hospital projects. The committee has shown progress, having found solutions for 73 hospitals with varying bed capacities.
Government’s Commitment to Resolve Issues
Prime Minister Al-Sudani has expressed strong commitment towards resolving the issue of lagging projects across all ministries and agencies. The Ministry of Planning has completed discussions on the plans for the year 2024, emphasizing the importance of providing a statement on the reality of lagging projects, completion rates, required funding, and executive capacity.
Emphasis on Development and Service Delivery
The Ministry of Planning is dedicated to finding solutions for all lagging projects, acknowledging their importance for development and service delivery. The issue of these projects is receiving significant attention from both the Prime Minister and the Minister of Planning. Their commitment to resolving this issue underscores the government’s determination to drive progress and ensure the successful completion of important projects throughout the country.
