Article quote: "The Central Bank of Iraq...decided to allow you to import foreign currency from outside Iraq..."
Very very important. We start receiving money internationally...this means in a couple days we be International be on Forex...Get ready to cash out soon...
Things are moving fast. We're moving pretty good. The economy is getting pretty good. Believe me it's gonna be very very good. The private sector is solid and it's getting stronger. You're almost there...Like I tell you always, keep your head on your shoulder...
Iraq Boosts Aviation Sector with ICAO Cooperation Agreement
The Prime Minister of Iraq, Mohammed S. Al-Sudani, has affirmed a path of progress for the country’s aviation sector by endorsing a cooperation and capacity-building agreement between the Iraqi Civil Aviation Authority and the International Civil Aviation Organization (ICAO). The alliance aims to foster institutional development, harness global expertise, and contribute to the overall advancement of Iraq’s civil aviation and air transport industry.
Strengthening Iraq’s Aviation Infrastructure
The agreement, approved by the Council of Ministers, underscores the commitment of the Iraqi government to advance the civil aviation sector. By contracting with international experts, the Civil Aviation Authority aspires to refine various aspects of aviation and air transport. The strategic collaboration signals a significant step towards enhancing Iraq’s aviation operations and infrastructure.
Implications of the Agreement
The partnership with the ICAO has potential to catalyze substantial growth in Iraq’s aviation sector. By leveraging international expertise and support, the agreement seeks to bolster regulatory frameworks, enhance institutional capacity, and foster sustainable growth in civil aviation. This proactive approach reflects Iraq’s ambition to meet international standards and positions the country for long-term success in the aviation industry.
Looking Ahead
The cooperation agreement could be a game-changer for Iraq’s aviation sector. By inviting global expertise and support, it accelerates the country’s journey towards a robust aviation industry. The initiative illustrates the Iraqi government’s commitment to a progressive aviation sector and its potential significance in the country’s overall development.
In the document.. The Iraqi Central Bank specifies the conditions for importing foreign exchange from abroad
On Wednesday, the Central Bank of Iraq announced the requirements for importing foreign currency into the country.
The Central Bank has notified all licensed banks, outlining the following obligations that must be met.
1 – The funds will be utilized to fulfill requests from registered companies, organizations, and individuals working for foreign entities who receive mobile phones from outside Iraq.
2- Submit a request to the Banking Control Department of the Central Bank of Iraq, including the quantity to be entered from the shipment details.
3-Funds can only be entered through airports.
4- It is necessary to register the serial numbers of the shipments and provide the Banking Control Department with the data of their recipients at a later time.
5- To meet customer requests, the Central Bank requires the name of the foreign shipping company and a copy of the license granted to it in its country. The Central Bank has confirmed that it continues to provide foreign currency in compliance with the relevant instructions and controls.
[via PDK] I am still getting Friday night through Sunday morning from nearly all of my contacts…. I am being told that Iraq on Friday is expected to join the World Trade Organization and that they have a fully international currency. This means a lot needs to happen in the next 24-36 hours. We are going to watch it closely.
[via PDK] Comment: [Guru] Nader said IQD is going international in a couple of days! MarkZ: That is huge and I continue to get the same from my Iraqi sources as well.
I’m told to expect it Friday – if not before…with an announcement coming out of Iraq . We’ll see. Just stay calm. IMO if they are telling us an exact date- It’s probably not accurate. It could be before or after…but they are going to cloud the timing.
I know a number of group leaders have been traveling for this thing…but, they are not giving me any specifics. They have been cracked down on what they can say and NDA’s. They have been leaned on hard to not leak the timing of this event. To me this means timing is “sooner” rather than “later”.
Iraq-Kurdistan Oil Export Talks: Implications and Prospects
A Tug of War: Oil and Geopolitics in the Kurdistan Region
The ongoing discussions between the Iraqi government and oil companies operating in the Kurdistan Region regarding the resumption of halted oil exports have significant implications for the oil industry, regional politics, and global markets. The halting of oil exports via the Iraq-Turkey pipeline since March, due to an arbitration court ruling in favor of Baghdad against Ankara, has resulted in significant disruptions. The Kurdistan Region’s Association of the Petroleum Industry (APIKUR), representing international oil and gas companies, has proposed selling their entitlement oil to the federal government to facilitate a rapid restart of oil exports. The discussions, held in Dubai, emphasized the urgent need to resume full oil production and exports under mutually acceptable terms.
Implications: Ripple Effects on the Oil Industry and Beyond
The discussions hold significant implications for the oil industry in the Kurdistan Region and Iraq as a whole. The proposal to sell entitlement oil to the federal government indicates a willingness to find a mutually beneficial solution. However, the prolonged disruption in oil exports has not only impacted the region’s economy but has also strained relations between the Kurdistan Regional Government (KRG) and the federal government in Baghdad. The involvement of international oil and gas companies adds a layer of complexity to the negotiations and reflects the broader geopolitical interests at stake.
Global Market Impact: A Balancing Act
The halt in oil exports, cutting off approximately 500,000 barrels a day of supply from Iraq’s north to global markets, has had reverberating effects on global oil supply and prices. The potential resumption of exports through the Iraq-Turkey pipeline would not only alleviate the supply shortage but also impact global oil prices. The discussions have implications for international oil and gas companies operating in the region, as their production and export capabilities have been directly affected by the pipeline closure.
Challenges: A Maze of Complexities
The discussions between the Iraqi government and APIKUR represent a critical juncture in the efforts to resolve the impasse. The intricate dynamics between the KRG and the federal government, coupled with the involvement of international stakeholders, contribute to the complexities of reaching a mutually acceptable resolution. Moreover, the broader regional and geopolitical factors add layers of intricacy to the negotiations.
Geopolitical Considerations: An Intricate Tapestry
The discussions between the Iraqi government and APIKUR also carry geopolitical significance. The resolution of the impasse would not only impact regional dynamics but also reflect the broader geopolitical alignments and interests in the Middle East. The involvement of Turkey in the arbitration ruling and the subsequent halt in oil exports adds a geopolitical dimension to the negotiations, as the interests of multiple regional actors intersect with economic and strategic considerations.
In conclusion, the discussions represent a pivotal moment with multifaceted implications. The resumption of oil exports through the Iraq-Turkey pipeline has the potential to address supply shortages, stabilize global oil markets, and contribute to regional economic stability. However, the complexities, challenges, and geopolitical considerations underscore the intricacy of the negotiations and the significance of their outcomes. As the discussions continue, the global oil industry and regional dynamics remain poised for potential shifts based on the resolution of the impasse.
