Iraq’s Federal Government Transfers 700 Billion IQD to Kurdistan Regional Government, 26 NOV

 Iraq’s Federal Government Transfers 700 Billion IQD to Kurdistan Regional Government

In the Kurdistan Region of Iraq, a monumental financial transaction has taken place, injecting hope and stability into the region’s economic fabric. A colossal 700 billion Iraqi Dinars (IQD) have been transferred to the Kurdistan Regional Government (KRG) from the federal government of Iraq, according to Shahaw Amin, a key figure in the KRG. This transfer is designed to alleviate the financial burden on the regional government, particularly in ensuring the timely disbursement of public sector wages.

A Lifeline for the Kurdistan Regional Government

The allocation of funds is an integral part of ongoing efforts to reconcile financial disputes and establish economic equilibrium in the region. The KRG, grappling with the strain of maintaining its infrastructure and meeting public sector wage demands, views this transfer as a much-needed lifeline. The 700 billion IQD will significantly bolster the KRG’s ability to sustain its public servants, who form the backbone of the region’s functioning.

Impact on the Region’s Economic Stability

The transfer of funds is expected to have an immediate and stabilizing effect on the region’s economy. By ensuring the swift payment of public sector salaries, the KRG can avert potential economic disruption and maintain the continuous delivery of essential services. The allocation also sends a strong signal of support from the federal government, reinforcing the commitment to resolve longstanding financial disputes and promote stability.

Significance of the Financial Transfer

The financial transfer to the KRG is not merely a monetary transaction; it is a testament to the federal government’s commitment to establishing economic harmony in the region. By injecting this significant sum into the KRG, the federal government is playing a crucial role in maintaining the functioning of the regional government and supporting its public servants. The move is a significant stride towards a more stable and prosperous Kurdistan Region of Iraq.

https://bnn.network/politics/iraqs-federal-government-transfers-700-billion-iqd-to-kurdistan-regional-government/

Advisor to the Prime Minister announces a platform for Iraqi and Chinese businessmen, 26 NOV

Advisor to the Prime Minister announces a platform for Iraqi and Chinese businessmen

Economy News-Baghdad

Advisor to the Prime Minister for Investment Affairs and Executive Director of the Iraq Fund for Development, Mohammed Al-Najjar, outlined on Saturday the importance of the relationship between Iraq and China, while announcing a platform for Iraqi and Chinese businessmen.

Al-Najjar said, during the founding ceremony of the Iraqi-Chinese Business Council, under the auspices of Prime Minister Mohammed Shia Al-Sudani, that "China was characterized by several qualities, including that it is the only country that was able to save 400 million people from the poverty line within 20 years, and this is a great experience that everyone must benefit from, and the second characteristic is its transition from a communist economy under the state by 100% to a real common economy that has become productive."

He added: "The third characteristic, which is very important as it relates to the experience gained by China through 4,000 years of civilization, which is how to develop a team capable of managing the variables of the state," noting that "Iraq looks at China as a friend and as a country that shared its concerns at a stage that abandoned a lot of it."

He continued: "We seek to learn a lot from China regarding how to change the framework and systems of the state," noting that "China has a principle called special economic zones, and this is an experience that must be used in Iraq to change our economic reality."

He pointed out that "China's GDP in 1979 did not exceed 120 billion, but today China is the second largest economy in the world through 40 years of changes that have occurred not only on a political basis, but on an economic and political basis at the same time," expressing his hope to "start a new phase of the relationship with China."

He stressed that "renewed trade and industrial projects between Iraq and China," pointing out that "the Iraqi-Chinese Business Council will be a platform for businessmen of the two countries." 

Iraq's CBI Governor Al-Alaq Reveals Plans for Crucial Meeting with US Tr...

"RV UPDATE" BY SANDY INGRAM, 25 NOV

  Sandy Ingram  

Wealthy Iraqis move to the Caribbean.  Guess who's on the list?  ...The leader of the Kurdistan region and the former governor of the Central Bank of Iraq and other businessmen suspected of corruption...Iraq's politician are monitored by the organized Crime and Corruption Report Project (OCCRP)...This is part of the effort to catch

individual involved in corruption....The project reported the purchase of Dominica (tiny Caribbean island) citizenship...enabling them to travel worldwide without a Visa...This country's visa is magical.  Citizens can travel to 144 countries without a visa..

 The country has no tax on foreign income, capital gains, inheritance, stock profits, wealth or gifts...The former Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, obtained Dominica citizenship in 2017 along with his wife and two children and did not renounce it upon his appointment as governor of the CBI which was clear violation of article 18 paragraph 4 of the Iraqi Constitution.  He held the position of governor of the Central Bank of Iraq from September 2020 until his removal by the current prime minister on January 23, 2023...

There are corruption questions...a legal complaint... has been filed due to the loss and depletion of millions of dollars regarding forged import documents.

  The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless.  It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange.  Most of these reserves are held in US dollars since it is the most traded currency in the world...The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history.

 The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless.  It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange.  Most of these reserves are held in US dollars since it is the most traded currency in the world...

The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history...

Article:   "Good News for Investors:  US Treasury Continues to Omit Vietnam Currency Off Currency Manipulator's List"  

 Vietnam was not included on the US Treasury Department currency manipulators list this time.   The list comes out twice a year and includes countries that may have surpassed the value of their currency.  When a country does this it cheats investors on potential profits...Iraq is rebuilding after the war so is not yet subject to currency manipulation lists...

  On Wednesday the Prime Minister of Iraq's advisor took the lead from the Central Bank of Iraq and announced Iraq has the largest foreign currency reserves in its' history and that the exchange rate treatment package aims to prevent profiteering at the expense of the economy...

https://dinarevaluation.blogspot.com/2023/11/rv-update-by-sandy-ingram-25-nov.html

Iraqi-British Business Council Conference: A Step Towards Economic Transformation in Iraq, 25 NOV

Iraqi-British Business Council Conference: A Step Towards Economic Transformation in Iraq, 25 NOV

 The Iraqi-British Business Council is poised to host a landmark conference in Dubai on December 7th and 8th, with an ambitious intent of bolstering alliances and ushering economic transformation in Iraq. The conference aims to galvanize companies engaged in business and trade, in a bid to nurture investment opportunities and bolster Iraq’s industry and its populace.

Strengthening Economic Ties

The event underscores the UAE’s ascending role as the primary commercial hub for Iraq, reflecting a substantial growth in trade between the two nations, which has surged by over 60% in 2022. The UAE emerges as a common ground for diverse global entities ranging from the UK, EU, and US to India, Turkey, Iraq and the Gulf. This pivotal role of the UAE in facilitating international cooperation is highlighted, further augmenting its potential for investment in Iraq, and providing an efficient route for companies to penetrate the Iraqi market, bypassing administrative hurdles within Iraq itself.

Building a Sustainable Future

A keynote speech by Dr. Thani bin Ahmed Al Zeyoudi, the Minister of State for Foreign Trade, will be a centerpiece of the event, focusing on constructing a sustainable future. The conference comes at a crucial juncture, addressing cardinal issues such as economic sustainability, education, finance, and climate change. As part of the climate change discussion, a UN-led conference in Dubai recently concurred on a target to curtail carbon emissions from global aviation by 5 per cent by 2030 through the utilization of sustainable aviation fuels.

Driving Growth and Development

The conference is seen as a catalyst for socioeconomic progress in Iraq. As Christoph Michels, the conference’s Managing Director, emphasizes the import of the event, which is projected to draw key decision-makers and stimulate dialogue on critical issues. Fikas Handa, the UAE representative at the regional level in the council, also recognizes the conference’s potential to influence Iraq’s long-term development and foresight. With its focus on facilitating technology transfer, infrastructure development, and expertise sharing, the conference is set to promote growth and development in Iraq, contributing to its reconstruction and economic revival.

https://bnn.network/world/iraq/iraqi-british-business-council-conference-a-step-towards-economic-transformation-in-iraq/

Political Engagement Among Kurdish Factions: A Step Toward Regional Stability, 25 NOV

 Political Engagement Among Kurdish Factions: A Step Toward Regional Stability, 25 NOV

In a significant political development, officials from the Gorran Movement hosted a delegation from the Patriotic Union of Kurdistan (PUK), led by Bafel Talabani, on Sulaymaniyah’s Zargata Hill. The event symbolizes a collaborative endeavor between two influential Kurdish political factions in the region, aiming to foster dialogue and potentially address pivotal issues concerning political cooperation, governance, and regional stability.

Collaborative Efforts in the Kurdish Region

This kind of political engagement is vital in the context of the Kurdish region of Iraq, where the balance of power and alliance-building among various parties can substantially mold the political landscape. The meeting signifies a dedicated effort by these factions to address key challenges and work towards regional stability.

Simultaneously, Masoud Barzani, the renowned Kurdish leader and president of the Kurdistan Democratic Party (KDP), hosted a high-ranking British military delegation led by Marshal Sammy Sampson, the UK’s Senior Military Advisor for the Middle East and North Africa. The dialogue focused on essential developments within the ongoing Peshmerga reforms, reflecting a shared commitment to enhancing the capabilities of the Kurdish forces.

International Partnerships and Geopolitics

The talks emphasized the importance of coordination among the Kurdistan Peshmerga Forces, coalition forces, and the Iraqi army. The British delegation commended the resilience and dedication of the Peshmerga forces and pledged ongoing support in the face of evolving regional dynamics. This engagement marks another chapter in the collaborative efforts to address regional challenges and underscores the importance of international partnerships in navigating complex geopolitical landscapes.

Unrest in Iran

Iran’s religious leaders are attempting to depict the angry protests over the death of Mahsa Amini as a breakaway uprising by her fellow Kurds threatening the nation’s unity rather than its clerical rule. Protests, which began at Amini’s funeral in her Kurdish hometown of Saqez, spread swiftly across the country. Iranian state media have labeled the nationwide protests a political plot ignited by Kurdish separatist groups, particularly the Kurdistan Democratic Party of Iran (KDPI).

Meanwhile, Soheila Mohammadi, an Iranian Kurdish political prisoner held at Urmia central prison in northwestern Iran, has gone on hunger strike and sewn her lips shut as a protest against the mistreatment by prison officials. Mohammadi continues to be deprived of parole opportunities and conditional release despite completing three years of her five-year term.

https://bnn.network/politics/political-engagement-among-kurdish-factions-a-step-toward-regional-stability/

Vietnam Dong 🔥 Vietnam Dong rate update against USA Dollar 🔥 Vietnam Don...