Saturday, December 2, 2023
"RV UPDATE" BY FRANK26, 2 DEC
Frank26
Question: Article VIII, WTO do these matter?
Yes without a doubt. WTO you notice they have not been ascended into it. Doesn't matter. Whenever they do it they'll do it but what's really important is in order to join the WTO you have to be Article VIII...All they have to do is raise the value of their currency, that's it.
Question: 'Do you think the rate might come out more than 1 to 1 or higher?'
It is possible they might be looking at $1.18...1 to 1 is a good start no doubt but it's been 20 years and I think $1.18 is fair enough to start the float at against the dollar. The goal is to go past the dollar.
Why are all these countries, why are all these companies saying such great and wonderful things about Iraq and Sudani when they never did before?
Why is it that parliament is saying beautiful things about reforms and the success of it that Sudani has had? There is a change in your [Iraqi citizens] monetary policy. Your monetary sovereignty is coming to you before '24.
Al-Sudani: We have natural resources that enable us to export products outside Iraq, 2 DEC
Al-Sudani: We have natural resources that enable us to export products outside Iraq
On Saturday, Prime Minister Muhammad Shiaa Al-Sudani stated that Iraq’s natural resources qualify it to meet local product demands and export surplus goods.
During the launch of the Industrial Partnerships Forum in Basra, Al-Sudani delivered a speech emphasizing that the current government has made economic reform one of its top five priorities. He acknowledged that in Iraq, where the economy solely relied on oil, it is vital to diversify by investing in the industrial sectors, agriculture, tourism, and trade. This approach will help transform the mono-economic state’s philosophy and bring much-needed economic reform.
He said, “Iraq has the natural resources to establish a sustainable advanced industry that meets local needs and exports outside the country.”
Al-Sudani emphasized the need to diversify the economy, support existing industries, and invest in available resources. He also noted that Iraq cannot continue to be solely a consumer market for imported goods, and practical and procedural developments must be made in light of this goal and priority.
During a recent statement, he emphasized that the state cannot fulfill the job demands of graduates and job seekers, as it is not feasible for the state to employ such a large number of people. This is particularly true given the fact that we are discussing human capital in this country, with the majority being young people.
The Prime Minister emphasized that one job opportunity in the industrial sector leads to the creation of 4-6 indirect job opportunities in other sectors. He stressed that the government’s top priority is to invest in human capital and equip it with the necessary skills, training, and capabilities.
It is time for our economy to be linked to the global economic cycle and establish a strong industrial base that supports stability, said the speaker.
Industrial entrepreneurship should be supported to meet local needs while also integrating with regional and international industries.
Al-Sudani noted that the private sector currently owns 81% of the total number of existing industrial units, as per the 2020 estimates. In contrast, government companies account for 11%, while mixed companies only make up 1%. Although the government general industrial companies still lead the contribution to total industrial production, this data highlights the significant role played by the private sector in the industrial sector.
He stated that the private sector should contribute to industrial production in the food, pharmaceutical, construction, and mining industries.
Our government companies were greatly affected by harmful commercial partnerships.
In his statement, Al-Sudani discussed successful partnerships that have helped to increase production lines and train workers. He emphasized the importance of empowering the private industrial sector by promoting ownership of industrial units and supporting production.
The National Payments Council reviews countries’ experiences in electronic payment systems, 2 DIC
The National Payments Council reviews countries’ experiences in electronic payment systems
On Saturday, Ali Mohsen Al-Alaq, the Governor of the Central Bank, chaired the inaugural meeting of the Iraqi National Payments Council. The Council reviewed the experiences of other countries in this field.
A statement from the Central Bank revealed that Ali Mohsen Al-Alaq, the Governor of the Central Bank of Iraq, chaired the first meeting of the Iraqi National Payments Council. The meeting was attended by officials from the Central Bank, representatives of relevant ministries, government and private banking sectors, and payment service providers. During the meeting, the objectives of the Council and its main tasks were discussed, which include implementing national strategies to develop the infrastructure of the financial and banking sector, advancing the components of the electronic payment environment, and strengthening the pillars of financial inclusion in Iraq.
During the council meeting, it was discussed how other countries have implemented payment systems and the necessary mechanisms to implement the Iraqi Council of Ministers’ decisions No. 23044 and 23620 for the year 2023. Proposals were also made to expand the scope of Iraqi electronic payment systems and connect them with various ministries and agencies, with the aim of encouraging the public to use them and benefit from the advantages they provide.
Weekend Coffee with MarkZ. 12/02/2023
Iraqi PM asserts sovereignty and security commitments in call with U.S. Secretary of State, 2 DEC
Iraqi PM asserts sovereignty and security commitments in call with U.S. Secretary of State
Shafaq News/ Iraqi Prime Minister Muhammad Shia al-Sudani conveyed Iraq's staunch rejection of any attacks on its territory.
In a phone call on Saturday with the U.S. Secretary of State Anthony Blinken, Al-Sudani emphasized that the recent attack on the "Jurf al-Nasr area" constituted a "violation of Iraqi sovereignty." Concurrently, the Prime Minister reiterated Iraq's unwavering commitment to protecting international coalition advisors currently stationed in the country.
On November 22, American drones launched strikes targeting the headquarters of the Popular Mobilization Forces, specifically the Hezbollah Brigades, situated in the Al-Saeedat area within Jurf Al-Sakhar, resulting in casualties,
A statement by Al-Sudani's media office detailed the key points discussed during the call. Prime Minister al-Sudani emphasized Iraq's commitment to safeguarding its borders and sovereignty against aggression.
Moreover, the leaders discussed the developments unfolding in the occupied Palestinian territories. Prime Minister al-Sudani outlined Iraq's proactive efforts to mitigate the repercussions of repeated attacks on the Gaza Strip. The focus was on stabilizing the truce, ceasing aggression, and ensuring that the conflict did not escalate to pose a tangible threat to regional security and stability.
"IRAQ UPDATE" BY ARIEL BRAVO, (ENGLISH & SPANISH), 2 DEC
By Hernán Robert Hbravo
Thursday November 30, 2023
Ariel: Dice
Iraq Update:
Iraq officially announced that it will end the dollar crisis before the end of 2023. What does this mean?
1. Increase the official exchange rate of the dinar against the US dollar to reduce pressure on foreign exchange reserves?
2. Policy changes to encourage the use of the dinar instead of the dollar in domestic trade and transactions to alleviate pressure on dollar demand?
3. Removal of shifting restrictions and caps that have created imbalances and a black market?
4. Reopen currency auctions that provide access to dollar reserves to stabilize exchange rates?
5. New measures to control inflation and monetary speculation amid economic uncertainty?
6. Efforts to back more domestic bank balances and liabilities with reserves as collateral? It could be all of the above. Because? Because they also announced that they will resolve the HCL next week. Which implies that they have a new exchange rate ready for international markets. Can we see a refund before JANUARY 1, 2024.
Of course, since the implementation of the LHC requires them to disburse equitable payments between the regions and they must know what is the new value stipulated by constitutional law for citizens in general. Which is also part of the agreement between the United States and Iraq according to which the United States must withdraw all its troops earlier.
That's probably why Iraq announced the closure of American embassies. We are on the brink of a once-in-a-lifetime opportunity that will never happen again. So if you have IQD, consider yourself lucky.
Ariel
TRANSLATION IN SPANISH:
De Hernán Robert Hbravo
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