The ascension to the World Trade Organization is a key component but they need a value to be able to do that for pricing all the components that are going to come through in and out of the country...That is massive. We're staring at that right now.
Article quote: "The government has achieved a lot in his first year." I don't disagree with that. I think the man's been off and running like no other inside the country and globally...He was at the UN assembly meeting. He went to Europe. He's been to Switzerland...China... Russia. He's been doing a lot of things in his first year...
Article: "Preventing the withdrawal of the dollars in Erbil via the ATMs"...They're closing up shop...They're prohibiting withdrawals of the dollar via ATM machines...the process is happening.
Quote: "The elimination of the parallel markets and parallel exchange rate in the end of the state of the dollarization and trends towards an automatic increase in the value of the dinar." ...I believe...[when] the parallel market goes away within moments, an international acceptable exchange rate...
Iraqi PM: the Government is considering redefining the priorities of work of UNAMI
Shafaq News/ Iraqi Prime Minister Mohammad Shia Al-Sudani announced the Government's intention to redefine the priorities and scope of work for the United Nations Assistance Mission for Iraq (UNAMI) during a meeting with Volker Perthes, the Head of the Independent Strategic Review of UNAMI, and his delegation on Wednesday.
Expressing Iraq's willingness to support UNAMI in its tasks, Al-Sudani commended the dedication of United Nations workers globally and praised the Secretary-General of the United Nations, Antonio Guterres, for his "principled stance on the events in Gaza."
He emphasized the Iraqi Government's unique perspective on its international assistance requirements and desire to refocus UNAMI's efforts. Al-Sudani outlined key areas for cooperation, including addressing water scarcity, climate change, economic and financial reform, improving services, combating corruption, and upholding human rights principles.
Al-Sudani underscored Iraq's increasing capacity to tackle internal and external challenges, actively contributing to regional stability and peace.
Perthes acknowledged the positive developments in Iraq since 2003, particularly in democracy and civil peace. He praised the Government's initiatives, highlighting projects like the Development Road Initiative aimed at economic diversification and stability.
Perthes revealed that the Independent Strategic Review team plans to conduct on-site visits in Iraq, engaging with federal and local government representatives and UN teams.
UNAMI is a special political mission established in 2003 by UN Security Council Resolution 1500 at the request of the Government of Iraq. The Mission has been operational ever since, and its role was greatly expanded in 2007 with the adoption of Resolution 1770.
According to the UN, "UNAMI's mandate is to prioritize the provision of advice, support, and assistance to the Government and people of Iraq on advancing the inclusive, political dialogue and national and community-level reconciliation; assisting in the electoral process; facilitating regional dialogue between Iraq and its neighbors; and promoting the protection of human rights and judicial and legal reforms."
About 650 personnel, 250 international and 400 national staff, work for the Mission in Iraq.
One year report card...Al-Sudani and his cabinet...Given all the circumstances I would give Sudani definitely a B- . To be honest I thought it was going to be a lot worse than this.
But like I said once the budget is passed we're going to start to see people's true colors. The second year is going to tell us a whole lot about Al-Sudani. Just when you think you got the right guy in there who seems to be getting everybody on the right path we have another election coming up again. That's going to tell us everything we need to know...
I believe they're going to go up in increments as the dinar gets stronger especially next year when they're using solely the Iraqi dinar. That's going to strengthen the dinar but there's always things that could change the way the dinar goes up in value. Removing the sanctions would be huge..
Article: "The Baghdad dollar jumps to 168 after intense speculation on the stock exchanges" So the exchange rate of the US dollar soared. In other words that's the wrong direction.
Quote: "the selling price reached 1680 for every dollar." What does this mean? They need to change the exchange rate...At least go back to the original rate of 1190 dinar...
The Ministry of Interior is in the process of opening sites for the national card and electronic passport in countries around the world
11/8/2023 Baghdad
The Minister of Interior, Abdul Amir Al-Shammari, confirmed on Wednesday that the ministry is working to open new sites for the national card and the electronic passport in a number of countries around the world.
Al-Shammari’s media office stated in a statement received by Al-Eqtisad News, “Minister of Interior, Abdul Amir Al-Shammari, participated in the seventh ambassadors’ conference, which included a dialogue seminar on (the consular services session), where discussion and dialogue took place regarding the joint work strategy between the Ministries of Interior and Foreign Affairs.” .
Al-Shammari stressed, according to the statement, “The Ministry of Interior always seeks to provide the best services to the Iraqi community by opening new sites for the national card and the electronic passport in a number of countries around the world, to facilitate the granting of documents.”
He pointed out that "the Ministry is working on an electronic entry visa (visa) project that will solve many of the obstacles facing the work of Iraqi missions abroad." LINK
The Central Bank allows Iraqi banks to import foreign currency and requires them to meet 5 conditions (document)
11/8/2023
The Central Bank of Iraq decided, on Wednesday, to allow Iraqi banks to import foreign exchange according to 5 conditions.
It was stated in a letter sent by the Central Bank of Iraq to the licensed banks and obtained by Shafaq News Agency, “Based on the requests received to the bank, and in order to provide the required flexibility to banks operating in Iraq, it was decided to allow you to import foreign currency from outside Iraq while adhering to the following: -
1- The amounts will be used for the purposes of meeting Ziyankum’s requests from duly registered companies, organizations and bodies, and individuals working for foreign companies or institutions who receive incoming remittances from outside Iraq.
2- Submit a request to the Central Bank of Iraq (Banking Control Department) that includes the quantity required to be entered along with the details of the shipment.
3- Payments must be entered exclusively through air ports.
4- Your commitment to register the serial numbers of these shipments and provide the Banking Control Department with them and the data of their recipients later.
5- Providing the Central Bank with the name of the foreign shipping company along with a copy of the license granted to it in its country.
The Central Bank of Iraq confirmed its continued provision of foreign currency to meet customer requirements and in accordance with instructions and controls in this regard. LINK