"RV UPDATE" BY MILITIAMAN, 26 NOV

 Militia Man

  There's things happening as we speak - one thing after another.  I can't imagine anybody being discouraged at this time because of the nature of what's happening.

Article:   "Ministry of Transport intends to open direct airlines towards Australia, America, Malaysia" 

 It's not just about a few regional countries.  It's about many different places.  Once you start opening up the airports all the investors can gain access to the country to take charge of their investment, produce their businesses.  It's a really big thing to have an international airport full...they have their capacity...what they're using today is at 100% and they're not even international yet...

They're saying it's done.  I really like that.  I think you guys should be happy about it because if all the currency swaps are taken care of...I think it's a precursor to an exchange rate change in the future.

Article:  " With the participation of 120 companies...the launch of the Iraq International Building, Construction and Infrastructure Exhibition"

  This...being launched in Baghdad for the next few days is not surprising at all on the back of all the WTO meetings...since Oct 31st regarding Iraq's accession to the organization.

 The 2023-2024-2025 budget is about investment primarily into infrastructure.  It takes a lot of capital to build a country back...It will take massive amounts. It is far too expensive with 1310 exchange rate. An internationally accepted REER will likely make it far cheaper.

https://dinarevaluation.blogspot.com/2023/11/rv-update-by-militiaman-24-nov.html

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

Iraq's Credit Rating And Its Relationship To The Conflict In The Occupied Territories, 26 NOV

 Iraq's Credit Rating And Its Relationship To The Conflict In The Occupied Territories

money and business  Economy News  Moody's credit rating agency maintained Iraq's CAA1 rating, warning that the escalation of the conflict between Israel and Hamas and the intervention of Iran and the United States may have fundamental repercussions on Iraq, if the war expands.

The agency said that the ongoing conflict between Israel and Hamas remains primarily focused in Gaza. But its regional escalation, which is a “scenario with little possibility of being achieved,” will have economic repercussions for Iraq.

The agency notes that any escalation in tensions in the Gulf would threaten to disrupt maritime transport routes through the Strait of Hormuz, which Iraq depends on for most of its oil exports.

It maintained Iraq's rating at "CAA1" with a stable outlook, and said that the rating reflects Iraq's financial and external dependence on hydrocarbons, which leads to its significant exposure to oil price fluctuations and the risks of transitioning away from carbon.

However, the agency says that Iraq's low reliance on external financing and the buffer provided by the recovery in foreign exchange reserves underscore a range of mitigating factors even if this scenario plays out.

Iraq, which is rich in oil, suffers from deterioration in its infrastructure and roads as a result of decades of wars and the spread of corruption.

Iraqi Prime Minister Muhammad Shiaa Al-Sudani confirms that one of his government's priorities is to rehabilitate the transportation and road infrastructure, as well as the dilapidated electricity sector.

- https://economy-news.net/content.php?id=37804

KTFA: "IRAQ NEWS ANALYSIS" BY FRANK26, 26 NOV

KTFA:

Frank26:  "IN SHORT... THE BATTLE FOR THE NEW EXCHANGE RATE IS ALSO NEARING ITS END."............F26

 Sudanese Advisor: The Battle For The Dollar Is Almost Over

 11/24/2023

The media advisor to the Prime Minister, Hisham Al-Rikabi, confirmed today, Friday, that the dollar battle is nearing its end.

Al-Rikabi said in a post on the “X” platform, followed by Earth News: “The reform plans for the financial and banking system undertaken by the government and the Central Bank of Iraq aim to build strong foundations for the stability of the economy and pave the way for creating a suitable climate for investment, and end the eras of illegal trade, dollar smuggling, and speculative operations in market".

He added, "In short, the battle for the dollar is nearing its end."    LINK

 Frank26:  "THIS IS THE MONETARY REFORM EDUCATION THAT WE CALL THE 2ND ARTICLE FOR THE CBI".............F26

Clare:  A Sudanese advisor reveals the goal of the reform plans for the financial and banking system

11/24/2023

Today, Friday (November 24, 2023), the media advisor to the Prime Minister, Hisham Al-Rikabi, revealed the goal of the reform plans for the financial and banking system undertaken by the government and the Central Bank of Iraq.

Al-Rikabi said in a tweet on the (X) platform that the plans aim to “build strong foundations for economic stability and pave the way for creating a suitable for climate investment.”

On the 14th of this month, Prime Minister Muhammad Shiaa Al-Sudani directed the directors of all government banks to prepare a plan to be presented within one month, to develop the work of banks that includes the optimal use of financial, human and technical resources , moving from paper work to automated work, electronic dealing with all banking activities and expanding... Electronic payment services, developing a comprehensive vision for banks in granting credit facilities and loans, and developing work mechanisms, including control and oversight tools.

Al-Sudani confirmed during a meeting that included the Minister of Finance, the Governor of the Central Bank, and directors of government banks that “bank directors will be subject to a performance evaluation in light of their implementation of the plan and the amount of achievement “

He stressed that "the real reform that the government was keen to achieve is based on banking reform, and it is determined to take bold decisions in order to implement this reform in a way that contributes to improving the investment environment and developing the work of the public and private sectors."    LINK

Saudi Arabia accelerates plans for tax-free economic zone with Iraq, 26 NOV

 Saudi Arabia accelerates plans for tax-free economic zone with Iraq, 26 NOV

Shafaq News / Saudi Investment Minister, Khalid Al-Fatih, announced on Sunday that the kingdom is accelerating steps to launch its first free economic zone with Iraq in the border area of Arar. 

Al-Fatih mentioned that the Saudi Economic Cities Authority is exploring establishing a connection between border areas and free zones with neighboring countries. He expressed hopes for Arar, the border region with Iraq, to become the first tax-free economic zone with a neighboring country, facilitating investors from both nations without taxes, fees, or entry visas. 

The Saudi Investment Minister made these remarks during a forum on investment in the Northern Borders region, held in the city of Arar, Saudi Arabia. He highlighted about 100 new investment opportunities, worth 20 billion riyals, in addition to existing opportunities valued at around 80 billion riyals. 

He noted that Arar's new land border crossing in the Northern Borders region has become one of the trade gateways between Saudi Arabia and Iraq over the past two years. The land trade volume during the first half of the current year reached approximately 913.1 million riyals. He also mentioned that the trade volume between Saudi Arabia and Iraq in 2021 amounted to about 3.5 billion riyals. 

A study by the Northern Borders Chamber of Commerce and Industry revealed that trade between the two countries increased from 294 million riyals in January to 381 million riyals in March. However, Saudi imports from Iraq during the same period decreased from 11.5 million riyals to 8.6 million riyals. 

Saudi exports to Iraq mainly consist of aluminum and its products, electrical devices and equipment, grain-based preparations, dairy products, animal products for consumption, and metal products. On the other hand, imports from Iraq include aluminum and its products, gum and plant extracts, sugar and its derivatives, copper, and its products. 

The Northern Borders region of Saudi Arabia holds 25% of the kingdom's mining wealth, totaling 1.2 trillion riyals, according to the Deputy Minister of Industry and Mineral Resources for Mining Affairs, Khaled Al-Mudaifer. 

Moreover, this Saudi region possesses about 7% of the global phosphate reserves, with an investment volume of approximately 85 billion riyals in two stages. 

The Northern region serves as an international passage for trade and transportation through three corridors: the first through Iraq to East Asian countries, the second via Jordan, Syria, Turkey, and Europe, and the third to the Gulf Arab states. 

Earlier this month, on the 22nd, the Iraqi Ministry of Industry and Minerals announced its preliminary approval for establishing a joint economic zone with Saudi Arabia along the border between the two countries.

https://shafaq.com/en/Economy/Saudi-Arabia-accelerates-plans-for-tax-free-economic-zone-with-Iraq

Iraqi Dinar Can I Open a Bank Account in Iraq? IQD VND ZIM Dollar Excha...

"RV UPDATE" BY FIREFLY, 26 NOV

 Frank26 (KTFA)

[Iraq boots-on-the-ground report]

FIREFLY: Television saying private banks and exchange companies are expressing the preparation in reducing the exchange rate.

FRANK:Oooo, snap! 

FIREFLY:  For the first time we're seeing a video.  It's new.  It's 10 minutes long.  It's being shown to us every day now this week...They say they are dedicated to the Iraqi citizens to keep us updated on the changes by the banks on our new monetary system reform...It will be every day updating us on new financial news. 

 FRANK:  They told them now every day for 10 minutes during the financial report of Iraq Channel One we're going to start to talk to you more about the monetary reform...These are the things we told you they were going to do.  Pretty cool.

FIREFLY:  For the first time we're seeing a video.  It's new.  It's 10 minutes long.  It's being shown to us every day now this week... They say they are dedicated to the Iraqi citizens to keep us updated on the changes by the banks on our new monetary system reform...It will be every day updating us on new financial news. 

 FRANK:  They told them now every day for 10 minutes during the financial report of Iraq Channel One we're going to start to talk to you more about the monetary reform...These are the things we told you they were going to do.  Pretty cool.

 FIREFLY:  Iraq's security teams arrested the most dangerous foreign currency smuggler inside of Iraq.  They're saying this is the head of the snake.  They tell us that by removing this man our reforms will continue and move forward as has been promised to us Iraqi citizens. 

  FRANK:  These events...are extremely powerful events to allow the new exchange rate to come out.

FIREFLY:  Iraq's security teams arrested the most dangerous foreign currency smuggler inside of Iraq.  They're saying this is the head of the snake.  They tell us that by removing this man our reforms will continue and move forward as has been promised to us Iraqi citizens.  

FRANK:  These events...are extremely powerful events to allow the new exchange rate to come out.

  Two months ago a quick little pip movement took the exchange rate of the Iraqi dinar from 1460 to 1320...They were supposed to make the next step.  

I told you at that time, 'Now that they've made this movement, let's say 1320 to 1, the next one will be 1,000 to 1 and when they do they will be in position to lift the three zeros and float the currency in a basket...'    

Article quote:  "Solutions exist, and during our tenure at the Ministry of Finance (2006-2010), we succeeded in increasing the value of the dinar from (1,500 dinars to the dollar to 1,170 dinars to the dollar). We were planning to reach (1,000 dinars to the dollar) and then raise the zeros so that the dinar was equal to the dollar."  What?!? 

 Word for word of what we taught you...This is the last step.  IMO the CBI is going to be going to the US Treasury next week...This is exactly what we want next

FIREFLY: Television is talking to us all day about the government taking measures to address the exchange rate and the parallel market but they can’t change the rate.  They say only the CBI.What’s going on?  Why don’t the CBI help?

FRANK: Calm down, calm down…As far as parliament saying whatever they are saying…who cares.  Their voice is an echo in the abyss of darkness.

Question:
“Has anything changed in regards to Iraq satellite banks exchanging dinars for US citizens?”

No.  They will follow American banking laws.  They won’t do anything different than any American bank is doing in American territory.  

You want to know the exchange rate of the BRICS because maybe, maybe the Iraqi dinar will be 1 to 1 with a basket of BRICS.  Maybe…one clue.  It’s an RI not and RV. 

https://dinarevaluation.blogspot.com/2023/11/rv-update-by-frank26-22-nov.html 

https://dinarevaluation.blogspot.com/2023/11/iraq-boots-on-bground-report-by-firefly.html

Member Of The Democratic Party: Postponing The Oil And Gas Law Until After The Kurdistan Parliament Elections, 26 NOV

 Member Of The Democratic Party: Postponing The Oil And Gas Law Until After The Kurdistan Parliament Elections

A member of the Kurdistan Democratic Party expected that the draft oil and gas law would be postponed to next year due to continuing disagreements over it.

Wafa Muhammad Karim told Al-Furat News Agency, “The oil and gas law has reached the stage of final touches before being sent to the House of Representatives, but the entry into the oil-producing governorates required more time to write the draft, in addition to the presence of political parties that want to obstruct the law.”

He added, "So far, the law has not been sent to Parliament and will be postponed until next year, because it is one of the most complex laws passed in Iraq."

Karim expected that "the draft law will be implemented after the Kurdistan Regional Parliament elections {scheduled for the beginning of next year} due to its legislative difficulty."

Prime Minister Muhammad Shiaa Al-Sudani confirmed on the second of last August that the draft oil and gas law is part of the commitment to the ministerial approach, which the House of Representatives voted on, and will take into account constitutional principles, in a way that guarantees the fair distribution of oil wealth and improves the reality of the economy in its various aspects, and contributes to the economic reform that The government has made it a priority.

Al-Sudani directed the formation of a ministerial committee to supervise the technical dialogues between the Federal Ministry of Oil and the Ministry of Natural Resources in the region, in addition to inviting the governors of the oil-producing governorates, Basra, Maysan, Kirkuk, and Dhi Qar, and the general directors of government oil companies to the ongoing technical dialogues regarding the law, provided that it is followed by These dialogues complete the political dialogue to agree on submitting the draft law.  LINK