The citizens have known for a long period of time that Iraq has the project to delete the zeros from the exchange rate and they don't want to give up their dinar...because they're going to have purchasing power and they're going to make a lot of money from that.
Back at the U.N. assembly they talked about the fact that Iraq was going to be bringing confidence to banks like JP Morgan and they effectively fix the financial system of the world. Iraq is going to be one of those countries that's going to help do thatand I'm looking forward to it and I hope you guys are too...
Things are happening on the banking side... Article Quote: "Visa Direct tool...simple transfers for the citizens. The tool facilitates the demand for foreign currencies." Not just the dinar, Not just the dollar...They're talking about 160 currencies. That's what they said. It's not my words...That's a lot. That's phenomenal. That means what? Iraq is going international with up to 160 currencies...
There's a little bit of turmoil going on with Kuwait...when it comes to demarcations ...Maritime borders are sovereign right too but the most important one is the 'unspoken Chapter VII'.
I believe the unspoken one is because of their currency exchange rate...Chapter VII has to do with the UN and until they are released and allowed to go Article VIII compliant with the IMF...ascend to the World Trade Organization...be able to have a valuation for their oil and gas law...That's what's in play right now...They are going to need an internationally accepted exchange rate...
Popular dissatisfaction with the rise of the dollar again. An economist points to effective solutions
Popular dissatisfaction with the rise of the dollar again - An economist points to effective solutionsWith the return of the rise in dollar prices, popular dissatisfaction and anger are renewed, especially by poor citizens, after the possibility of a stifling economic crisis, which will cause great harm to their miserable living conditions.
The economic expert, Bassem Antoine, said in an exclusive interview with Al-Mutala’ Agency today, Saturday, that “economic reforms, in light of the rise in the price of the dollar against the Iraqi dinar, need a long time to complete what the current government seeks, by untying the dollar knot and ending the major crisis.” .
He added, “Iraq needs to develop the economy in a way that is different from before, especially with regard to the agricultural, commercial, and tourism sectors,” noting that “activating these sectors will contribute greatly to reducing poverty and unemployment rates, and increase the strength of the country’s economy, which will strengthen the value of the Iraqi dinar.”
The President of the Republic - Iraq is no longer a source of crises
Information/Baghdad..
The President of the Republic, Abdul Latif Jamal Rashid, confirmed today, Saturday, that Iraq is no longer a source of crises, noting that the government’s program emphasizes attention to Iraq’s relations with the countries of the world.
Rashid said in his speech during the seventh Iraqi ambassadors’ conference held in Baghdad, “I salute you in this important meeting with the heads of diplomatic and consular missions abroad, which we hope will be fruitful in the context of the endeavor to strengthen and consolidate Iraq’s relations with various brotherly and friendly countries in the world.”
He added: “In fact, over the past years, Iraq has achieved important developments in the field of diplomatic relations with various countries, and we have succeeded in overcoming the decline in diplomatic, political and economic relations with many countries that occurred due to the rule of a dictatorship that embroiled the country in countless wars and problems.”
He pointed out that “the government’s program emphasizes attention to our relations with the countries of the world, which is what we worked on with great seriousness in the Presidency of the Republic, and the government also worked on it with precision and care in order to distance the country from the policies of the axes, and in order for common interests and respect for the sovereignty of countries to be the principle that governs it.” Relations are based on it,” adding: “Iraqi diplomacy was able to start from our country’s democratic policy and to resume and activate relations with many countries in order to preserve the traditions of coexistence and cooperation between countries.”
The President of the Republic continued: “The role of the foreign ministers after 2003 and the role of the ministry’s senior officials was also effective and vital in translating the state’s policy and achieving its goals in restoring, developing and activating diplomatic relations with various friendly and brotherly countries.”
He pointed out that: “Today, as you can see, is different from what we were years ago, and today Iraq is no longer a source of threat to any party as it was in the dictatorial era, and Iraq is no longer a source of crises,” indicating that “Iraq’s foreign policy is based on the foundations of cooperation.” To overcome crises through constructive dialogue and by giving priority to common interests, and for Iraq to be effective in resolving crises and helping to create a regional environment that coexists in peace and cooperation.”
He stated that: “On these grounds, many countries have begun to express their keenness to further advance relations with Iraq and strengthen them wherever development is possible in the political, economic, cultural and commercial fields, and this is what we sense from our position in all our visits, receptions and meetings with leaders of countries, and it is welcomed and appreciated by us.” And respect for any effort that helps improve relations and advance them.”
The President of the Republic stated that “what helps to improve relations now is the great success achieved in the security situation and the keenness shown by the government in order to achieve an attractive environment for investment and bridge bureaucratic obstacles to investors. This is what helps develop relations in the commercial and investment aspects and stimulates capital, companies and governments to… Cooperation and investment in Iraq, in a safe, stable and stimulating environment.”
He said: “Hereby, we call upon you, as representatives of your country and the government in friendly and brotherly countries, to further work and openness wherever you are in your countries of work and wherever you find appropriate opportunities to enhance and develop cooperation in any economic, political and cultural field. Sustaining the momentum of Iraq’s diplomatic activity today is an absolute necessity.” It is necessary to present a true picture of the new situation represented by improved security and stability in order to encourage investments and enhance opportunities to bring capital to Iraq, and this important role falls on the shoulders of every head of mission and representative of his country abroad.
He explained: “We call on you for greater openness to Iraqis residing outside the country and to go beyond bureaucracy in this connection with citizens wherever they are, and any of our embassies should be a home for Iraqis.” Rashid stressed: “This is one of our responsibilities towards our citizens residing in many countries.
” And those traveling outside the country for the purposes of tourism, treatment, study, trade or work.”
He stressed that “the development of professional skills is an important factor in success and advancement in job performance, and this is what should be a basic and decisive criterion in selecting foreign service employees.” He noted:
“ We have a lot ahead of us on which we must focus our efforts, and I believe that your Ministry, the Ministry of Foreign Affairs, possesses the capabilities and competencies that are truly capable of development, and in a way that helps advance the government program and translate this program through good performance and in light of the value of the results achieved.”
AS OF THE BEGINNING OF NEXT MONTH, KURDISTAN WILL ADOPT THE IRAQI DINAR IN CROSSINGS AND AIRPORT TRANSACTIONS
The Director General of Customs in the Kurdistan Region, Samal Abdul Rahman, said, “In accordance with a decision issued by the Kurdistan Regional Government, all transactions at border crossings and airports will be in Iraqi dinars, starting from the beginning of next month.”
Abdul Rahman added that the regional government had previously used the dinar instead of the dollar at some crossings with neighboring countries, adding that there are still some crossings that will be converted to the dinar tomorrow.
The Kurdistan Region Council of Ministers had issued Resolution No. 227, circulated on 9/20/2023 and published on 10/16/2023, which stated: “Based on the provisions of Article (8) of the Kurdistan Region Council of Ministers Law, No. 3 of 1992, it was decided to collect fees.” Customs duties and customs taxes at border gates and customs points are in Iraqi dinars only.
Tweet Suggests Nuclear Threat to Gaza: Implications for Biden’s Middle East Policy
In the midst of the tumultuous cybersphere, a tweet has surfaced, hinting at a potential nuclear threat to Gaza. The cryptic nature of the tweet, associated with the news source Al-Ahram, does little to assuage the public’s growing concerns. The escalating Israel-Hamas conflict, already a thorn in the side of President Joe Biden’s Middle East policy, seems to have taken a menacing turn.
Conflict Complicating Biden’s Middle East Goals
Prior to this stark development, Biden had ambitious plans in sight: further integrating Israel with its Arab neighbors and curbing Iran’s nuclear ambitions. The current conflict, however, poses a significant setback, shifting the focus towards preventing the conflict from spiraling into a regional war involving Iran-backed combatants across Lebanon, Yemen, and Syria.
Efforts to Contain the War
As the war drums beat louder, Biden has been actively engaging with Israeli Prime Minister Benjamin Netanyahu and regional leaders, including those of Jordan, Egypt, and Saudi Arabia. Key to this containment strategy is the provision of humanitarian relief to Palestinian civilians in Gaza. Secretary of State Antony Blinken has made multiple visits to the region, advocating for humanitarian pauses for increased aid deliveries and civilian evacuation.
Conflicting Demands and Regional Tensions
However, the tug of war between the conflicting demands of various parties continues to intensify. Israel’s refusal to allow fuel into Gaza or agree to a ceasefire not involving a hostage release brings it at odds with Arab partners advocating for a sustained ceasefire and increased protection for Palestinian civilians. The conflict has also fanned the flames of regional tensions, with Hezbollah, Yemen’s Houthi rebels, and American troops in Iraq and Syria all entering the fray.
The Post-War Gaza Conundrum
While Israel and the United States concur on a post-war Gaza not under Israeli governance, they diverge on the next steps. The United States upholds a two-state solution, envisioning an effective, revitalized Palestinian Authority overseeing Gaza and the West Bank. Netanyahu’s office, however, speaks a different language, espousing the elimination of Hamas and dismissing talk of Palestinian Authority control over Gaza as a fabrication.
Charting the Path Towards Peace
Amidst these diplomatic impasses and the quest for a ceasefire, the groundwork for post-war governance in Gaza and the realization of a two-state solution must be laid. This involves ensuring no further radicalization and empowerment of regional extremists. Arab states will likely play a crucial role in formulating a policy response to address the underlying issues and chart a path towards lasting peace in the region.
Integrity Commission Discovers Fraud and Mismanagement of Funds in Iraq
The Integrity Commission in Iraq has unearthed a series of fraudulent activities, seizing documents related to a delayed project costing two billion dinars in the governorate of Diyala. The commission also arrested a man impersonating an official in Baqubah, releasing executive bonds to reviewers.
Irregularities in the Iraqi Oil Tankers Company
In the Iraqi Oil Tankers Company in Basra, the commission identified manipulation in 20 payment documents amounting to 4 billion dinars. The funds were allocated for public service projects as social benefits. However, the investigation team discovered that the Basra Oil Company – Projects Authority didn’t fulfill its financial obligations to an Australian company contracted for an energy escalation project, leading to public fund damage after the Australian firm declared bankruptcy. The commission also found discrepancies in compensation settlements for the West Qurna/1 field, where non-agricultural and fictitious lands were included in the compensation.
Housing Units Distribution Violations
The commission also revealed violations during the distribution of housing units owned by the South Oil Products Distribution Company. Housing units were undeservedly granted to the company’s director-general and several employees. The director had even accommodated his son in a house he received, despite his son not being affiliated with the company.
Anomalies in the General Company for Oil Products Distribution
Furthermore, at the General Company for Oil Products Distribution, the commission discovered two contracts signed this year for transporting oil products for extraction companies. These contracts were signed under “licensing tours” with a private transport company. But, the investigation showed that the General Company for Oil Products Distribution transported products to licensing companies using government vehicles without contracting with private companies.
The cases underline the urgent need for stronger measures to combat corruption and improve financial management within the Iraqi government. While the Integrity Commission’s efforts in exposing irregularities and holding people accountable are notable, they also suggest that systemic changes are necessary to prevent such occurrences in the future. Transparency, accountability, and proper oversight are crucial to ensuring the efficient and effective use of public funds and resources in Iraq.