Al-Sudani From Basra: The Government Has Placed Reform Of The Economy Among Its Five Priorities
Politics |Baghdad today – Basra Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Saturday (December 2, 2023), that the government has placed among its five priorities reforming the country’s economy.
Al-Sudani said in his speech during the Industrial Partnerships Forum in Basra Governorate, followed by “Baghdad Today”: “We welcome investment companies to the Industrial Partnerships Forum,” indicating that “the government has placed among its five priorities reforming the economy.”
He added, "The economy cannot be reformed except by supporting industry, agriculture, tourism, and trade," pointing out that "the natural resources we have enable us to establish an advanced Iraqi industry that meets our local needs and from which we can export."
Al-Sudani pointed out that "we cannot remain spectators while Iraq remains a consumer market."
In a separate matter, the Prime Minister explained that “the state cannot employ all the huge numbers of graduates,” stressing that “it is time for the Iraqi economy to be linked to the global economic cycle.”
Earlier today, Prime Minister Muhammad Shiaa Al-Sudani arrived in Basra Governorate. LINK
The Central Bank Delivers A Devastating Blow To “Sailors”
ATM Drains The Central Bank of Iraq decided to deal a severe blow to people who use bank cards outside Iraq, in order to smuggle dollars.
The Iraqis called “sailors” to these people who reside in Dubai and use ATMs and points of sale.
An informed source told Al-Iqtisad News that the Central Bank obligated electronic payment companies to set the limits on cards for withdrawal and purchase outside Iraq, in order to limit people’s use of bank cards to smuggle dollars outside official controls.
The source, who preferred to remain anonymous, confirmed that these people were smuggling hundreds of bank cards from Iraq towards Dubai, and a group of people called “sailors” used them to withdraw from ATMs, in addition to agreements with shop owners to withdraw from POS machines under the pretext of purchasing goods in the country. Dubai.
The source indicated that this measure will lead to a rise in the exchange rate of the dollar in the parallel market, and the features of this rise will appear during the next two days, adding that the measure will contribute to forcing all people to deal with banks and make financial transfers at an exchange rate of 1,320 dinars.
The Central Bank set the ceiling as follows:
1. Ceilings for cards in US dollars outside Iraq
- Monthly limit: $3780
Its equivalent in Iraqi dinars is 5,000,000 dinars
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
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
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.
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
MZ: We visit with the CBD Guru’s for the first 45 minutes and then have a back to basics for new people.
MZ: The group chatter has been amazing as they are waiting for release of funds…There is a lot of rumors out there that SKR’s have started delivering but I cannot find anybody that has had their SKR paid yet.
MZ: So for me that is a rumor and not factual….I can find bunches of people that have SKR’s and have not seen money yet though. So evidence is pointing towards they do not have dollars yet.
Member: Maybe they have NDA’s and cannot tell you?
MZ: But I can tell you that groups are sitting at the edge of their seats. More groups confirm they have funding and just waiting for permission to release it. We don’t know what that means timing wise.
MZ: Redemption contacts who are “on call” have not been called in….yet. But we are stinking, painfully close…..
MZ: Story from Matt at CBD Gurus: Matt used to drive a limousine and you usually strike up a conversation (good for tips) ….Anyway he picks someone up from the Federal Reserve in Minneapolis to go to the airport. This gentleman was not carrying bags……. Matt asked if he was in town for business?
MZ: He said he was at a meeting with the Federal Reserve and talked about the new system ….a new “worldwide system” that they are going to implement. The goal for this was 2023. They talked about the systems…financial and government that has been around for many years and how it was time for a change. They are working on it and the goal was 2023. He was told this in the year 1995. 28 years they have been working on this…..or more. Isn’t that interesting. How long this battle for a new system has been going on.
Member: Fiat is the new “F Word!”
Member: I wonder when are the banks going tell us about if they have the QFS system?
Member: My bank is not available from tonight until 7am Monday for update on new system is what they said.
Member: Iraq is posting there will be a 3 or 4 day work disruption and a holiday on Dec 10th
MZ: Yes a holiday on the 10th and for some reason they are going to close a couple extra days.
Member: TNT actually said: "we should see it by Monday but today some of our 3 letter agencies say its over its done - have completed it all - the whole world will see it no later than Monday morning.
Member: TNT Tony quote: The US has passed on the release of the rv to the international monetary fund (IMF). IMF is in complete control of when the RV comes out. All preparations for the RV are done.
Member: Are we still waiting for a “Scare event” to let everything go?
MZ: We keep hearing there is going to be a great scare event. I don’t know if a scare event is necessary at this point. How much more scared does the world need to get?
Member: I think the scare event will be the collapse of the fiat Dollar itself
Member: financial scare event not being able to access your money possibly?
Member: Having all the banks collapse and your bank accounts go to zero will freak the h*ll out of everyone
Member: Think we've had a lot of scare events
Member: Scare Event rumors is the scare event.?
Member: We are living in a scare event!!!
Member: Scare event is the checkout at the grocery store!!
Member: I think we can kiss the Petrodollar good bye!!
MZ: Kiss fiat good-bye….kiss commodities backed money hello…..If we follow historic precedence…..(which we rarely divert form much) we will have a reset and things will be great for awhile. Maybe 20, 30 or 50 years…..then they will start down the fiat road again. It is a wash, rinse, repeat . But we are in a unique position to take advantage of this.
Member: Is there a difference between good guys and bad guys at this point…Black hats and white hats? ?
MZ: I am trying to find one.
Member: We are ALL tired and in need of relief , a jubilee and a Vacation! They need to end this
Member: Remember Saturday Nights are when all the banks worldwide are closed for a brief time…..Maybe this is the night they actually change the rates.???
Member: Everyone enjoy your weekend……God Bless.
Mark does a short Q&A for newbys toward the end . Please listen to the replay for that information
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Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary, medical opinions or many guests on this stream……just RV/currency related topics.
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