Iraq’s Political Consensus Complicated by Power Struggle, Unrest Continues in Gaza, 16 nov

Iraq’s Political Consensus Complicated by Power Struggle, Unrest Continues in Gaza

Political stability in Iraq hangs in the balance as the government and Parliament scramble to reach a “consensus deal” for the redistribution of positions. The country is on thin ice, especially considering the suspension of parliamentary work by ministers and deputies of the “Progress” coalition after the dismissal of Speaker Mohammed al-Halbousi. This predicament threatens to reignite the unrest that preceded and followed the rise of ISIS, echoing the turmoil of the past.

Disruption of Consensual Governance

Prime Minister Sudanese’s government, known for its calm demeanor and avoidance of political skirmishes, took office a year back in October. Riding on the rare wave of political and security stability, the government turned its attention to the crumbling services in Iraq. Their strategy was to combat the state’s chronic failures that have been plaguing Iraq for over two decades. But the judicial decision to dismiss al-Halbousi disrupted this relative tranquility. The dismissal toppled one of the three pillars (legislative, executive, and judiciary) that spearhead the consensual governance in Iraq, thereby complicating the political consensus.

The Aftermath

The dismissal of al-Halbousi, backed by Sunni provinces, has stirred the hornet’s nest. The Supreme Federal Court’s decision has been contested by al-Halbousi as unconstitutional. This has set the stage for a long-drawn legal and political battle that could destabilize the country and affect the scheduled local elections.

Separate Unrest in Gaza

Meanwhile, the situation in Gaza remains dire. The Palestinian Red Crescent reported an attack by Israeli forces on al-Maqadma Hospital, one of Gaza’s oldest. The forces surrounded the hospital with tanks, preventing medical crews from aiding the injured. The hospital had been shelled last October, resulting in approximately 500 deaths and 600 injuries. The current circumstances in Gaza are made worse by fuel shortages and the halt of hospital operations due to the Israeli blockade.

https://bnn.network/politics/iraqs-political-consensus-complicated-by-power-struggle-unrest-continues-in-gaza/

Iraqi Dinar🔥Iraq Ready To Stand Own With Dinar RV🔥iraqi dinar big RV upd...

"RV UPDATE" BY MILITIAMAN, 16 NOV

 Militia Man 

 The Hydro-Carbon Law will require an international exchange rate.  The 2023, 24, 25 budget will require it.  The salaries and the payment to the citizens will require it.  The WTO will require one.  The house contracts will require one.  The Development Road Projects, economic and financial reforms, all of them are going to require an international acceptable Article VIII compliant exchange rate...

 What the WTO and the world want to see is that Iraq is a balanced nation ...

They need to produce.  I'm talking about industry...Development Road Program, the Silk Road Initiative.  All of that's coming together and coming into play to be able to prove to the world Iraq is ready to stand on her own two fee and start doing trade and be that additional bread basket to the world...  

We've heard this about different currencies.  Iraq's going to be trading outside the dollar.  They're going to be using different currencies...They're going to be on a level playing field...

Iraq's been working through an international interconnectivity system the ITC, The World Bank, the Bank of International Settlements, the central banks of the world, the federal Reserve Bank.  It isn't just a push the button situation...it's a complex process. 

Iraqi Financial Expert Predicts Further Decline in Dollar Exchange Rate, 16 nov

 Iraqi Financial Expert Predicts Further Decline in Dollar Exchange Rate

Shafaq News/ Financial and economic expert Abdul Rahman Al-Mashhadani has predicted a new decline in the dollar exchange rate in Iraq, reaching 145,000 Iraqi dinars against 100 dollars.

He attributes this forecast to measures the Central Bank of Iraq took in collaboration with the Federal Reserve Bank. 

Speaking to Shafaq News Agency, Al-Mashhadani highlights the recent meeting in Abu Dhabi, where ten banks were authorized to carry out transfer operations directly through correspondent banks, including American banks JP Morgan and Citibank. He explains that this move aims to expedite transfer processes, bypassing the electronic platform of the Central Bank and avoiding scrutiny from the Federal Reserve Bank.

Additionally, Al-Mashhadani notes that the Central Bank has allowed banks to import remittances belonging to foreign companies, international organizations, and diplomatic missions operating in Iraq through Iraqi banks. This move is expected to facilitate the payment of salaries and contracts, with the first shipment worth $100 million entering the local parallel market. The funds will be used to pay workers in these companies and cover contracts with Iraqi suppliers, contributing to increased spending in Iraqi dinars.

https://shafaq.com/en/Economy/Iraqi-Financial-Expert-Predicts-Further-Decline-in-Dollar-Exchange-Rate

The Central Bank Of Iraq Agrees To Import The Dollar To Meet The Needs Of Citizens, 16 nov

  The Central Bank Of Iraq Agrees To Import The Dollar To Meet The Needs Of Citizens, 16 nov

November 15, 2023 Last updated: November 15, 2023   Al-Independent/- A government source revealed, today, Wednesday, that the Central Bank of Iraq issued official approvals to three Iraqi private banks to import the US dollar to meet the needs of citizens, confirming that one of the banks’ shipments had actually arrived in Iraq.

 This decision comes within the framework of the efforts made by the Central Bank of Iraq to enhance the stability of the Iraqi dinar exchange rate, and to provide the dollar in sufficient quantities to meet the needs of the local market.

 According to the source, the private banks that obtained approvals are:

 National Bank of Iraq   Ahli United Bank  Trade Bank of Iraq (TBI)  The source explained that these banks will import the US dollar through the electronic money transfer platform recently launched by the Central Bank of Iraq, with the aim of ensuring transparency and preventing currency speculation.

According to the source, there are applications from other banks that are on their way to be submitted for decision by the Central Bank of Iraq.

 The source confirmed that the Trade Bank of Iraq (TBI) is currently holding important discussions with several international companies to transfer amounts amounting to $120 million, and

 they are on their way to completion within the next few days.

 The source expected that this decision would stabilize the exchange rate of the Iraqi dinar, and provide the dollar in sufficient quantities to meet the needs of the local market.

 The impact of the decision on the Iraqi economy

 It is expected that this decision will have a positive impact on the Iraqi economy, as

it will stabilize the exchange rate of the Iraqi dinar, and

provide the dollar in sufficient quantities to meet the needs of the local market.

 According to the economic expert, Dr. Ahmed Ismail, this decision will contribute to reducing the demand for the dollar in the local market, and thus reducing the exchange rate of the Iraqi dinar against the dollar.

 This decision will also provide the dollar in sufficient quantities to meet the needs of companies and investors, which will contribute to increasing foreign investments in Iraq.

 In general, this decision is an important step by the Central Bank of Iraq to enhance the stability of the Iraqi economy.   https://mustaqila.com/البنك-المركزي-العراقي-يوافق-على-استير/

Chase Bank Says IQD Will RI?💣HCL = New Rate?!🤔Iraq Dinar RV Updates | 11...

"RV UPDATE" BY FRANK26, 16 NOV

 Frank26 

  If I WAS THE CBI, I WOULD BE FOCUSING ON THE NEW EXCHANGE RATE AND THE NEW CURRENCY TO COME OUT TOGETHER...SUDANI IS IN ERBIL WITH BARZANI, AND THEY ARE DEALING WITH THE LAST THREE PARAGRAPHS OF THE HCL. THEIR INTENT IS TO RELEASE IT VERY SOON IF THAT IS THE CASE, THEN IMO THE NEW EXCHANGE RATE AND THE NEW LOWER NOTES SHOULD FOLLOW.  REMEMBER WHAT I’VE ALWAYS SAID...THE MOMENT YOU SEE THE HCL SECONDS LATER YOU WILL SEE THE NEW EXCHANGE RATE.

 You see these banks finally admitting the truth about the Iraqi dinar monetary reform.  They would never talk about it before because they would lose their licenses.  They would lose the opportunity to exchange when a time comes.  And that time has come!

 [Bank Story] 

I called JP Morgan Chase corporation office and I was told when the Iraqi dinar is reinstated...

 FRANK:   What??  Chase told you this?! 

 Bank Story:  He said when the IQD is reinstated I am supposed to go to Houston, Texas Chase Bank and they would be able to exchange my currency and set up a private account there for me.  I just wanted to share my JP Morgan Chase story with you.  This is amazing isn't it? 

 FRANK:  Follow up on this don't leave it there.

  BANK STORY MAN:  I called JP Morgan Chase financial office again just to make sure that it wasn't a fluke and reassuring myself...This time I got a different advisor...Guess what?  He told me the same thing...that Iraq was about to reinstate their currency...I wanted to find out in Houston area which JP Morgan Chase Bank would be exchanging the Iraqi dinar...He transferred my call to the JP Morgan Chase bank and a lady by the name of 'Ms Bank Lady' didn't deny anything.  I asked her and she suggested that I call back tomorrow and talk to one of the bank agents about setting up an appointment with them to find out how to do my exchange with the bank... 

FRANK:  This is incredible information.  I'm so glad you pursued it to the next level.