Al-Sudani from Basra: It is time for the Iraqi economy to be linked to the global economic cycle
Al-Sudani from Basra - It is time for the Iraqi economy to be linked to the global economic cyclePrime Minister Muhammad Shiaa Al-Sudani said today, Saturday, that his government is studying the establishment of economic projects, the establishment of industrial cities, and free zones in partnership with countries neighboring Iraq.
Al-Sudani said in his speech during the launch of the activities of the Industrial Partnerships Forum in Basra Governorate: We are currently studying economic projects, industrial cities, and free zones with Iran, Saudi Arabia, Jordan, and Kuwait.
The Prime Minister described the development road project as the “first Iraq” project, adding that it will settle industrial cities, starting from the port of Al-Faw and ending at the point of connection with Turkey.
For his part, the Iraqi Minister of Industry and Minerals, Khaled Battal Al-Najm, in a speech in which he opened the forum, announced 90 participation opportunities between government companies and the private sector, as these investment opportunities represent wide sectors of various opportunities for companies, indicating that the value of these investments reaches about 10 million dollars.
Anybody that tells you, 'give me your dinars and I will give you more than what the CBI will give you' because, 'I belong to the [whatever] group/organization' They're thieves. They're vipers. They're liars..
.No body is going to give you more than what the CBI can and is willing to give you.
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.
Iran Declares Readiness to Protect Iraq’s Sovereignty: A Step Towards Stronger Defense Cooperation, 3 DEC
Major General Mohammad Baqeri, the Chief of Staff of the Iranian Armed Forces, has declared Iran’s preparedness to counteract any threats to Iraq’s territorial sovereignty. This announcement was made during an official meeting with his Iraqi counterpart, Lieutenant General Abdel Emir Rashid Yarallah, in the capital city of Baghdad.
Strengthening Iran-Iraq Relations
Baqeri highlighted the robust relationship between Iran and Iraq, underlining their shared experiences in the fight against terrorism. He also acknowledged Iran’s significant role in assisting Iraq during the battle against the Daesh terrorist group. The Major General paid tribute to the fallen heroes, Qassem Soleimani and Abu Mahdi al-Muhandis, who lost their lives in a US drone strike in 2020.
Joint Military Drills for Border Security
Emphasizing the importance of joint military exercises for the safety of the shared borders, Baqeri suggested that such collaborative efforts would be mutually beneficial. In response, Yarallah expressed his gratitude towards Iran for its support against Daesh and confirmed the readiness of Iraq’s armed forces to enhance military cooperation with Iran.
Security Agreement in Response to Anti-Iranian Activities
Previously, the two nations had signed a security agreement in response to the surge in activities of anti-Iranian terrorist groups in Iraqi Kurdistan. Following these activities, Iran’s Islamic Revolution Guards Corps (IRGC) conducted strikes against these groups. They issued a warning to the local Kurdish authorities against allowing their territories to be used for activities against Tehran.
This recent meeting and subsequent declarations highlight the strengthening of defense cooperation between the two nations, pointing towards a future of enhanced military relations and joint counterterrorism efforts. Both Iran and Iraq stand firm in their commitment to uphold each other’s sovereignty and maintain the security of their shared borders.
I found the steps Iraq would need to take in order to reinstate its $3.22 rate...Stabilize the economy by addressing issues such as inflation, unemployment and corruption...diversifying the economy beyond oil dependence...
Monetary policy - To reinstate a specific exchange rate the Central Bank of Iraq would need to implement appropriate measures...like interest rates, reserve requirements and open market operations.
Third, Foreign Reserves - Iraq's foreign reserves...The more they get the better it is for them...particularly the US dollar would provide the CBI with the necessary resources to support the desired exchange rate...
Currency Auctions ...Adjusting the auction mechanisms and policies could help control the supply and demand dynamics of the IQD...Fifth, Government of Iraq - Investors...have to feel their investment is secure. Having a stable government and stable economy goes a long way. Political stability...that encourages domestic and foreign investment ...Lastly, International Support...IMF and World Bank...these organization can provide financial aid, technical assistance and guidance on implementing economic reforms...Those are the steps necessary to reinstate the $3.22 rate. I still think it'll go up in increments just so they can make sure there is stability in the economy without bankrupting themselves...
Iraqi dinar is going to go up in increments because as you go up one step at a time you're able to see what kind of shock you're going to have to your economy, if at all. As they keep making a move forward with the value of the Iraqi dinar measured against your economy they're able to determine whether they can keep going forward and make the value of the Iraqi dinar increase or whether they should decrease the value of the Iraqi dinar.
General Bagheri: We have no problems with Iraq in the security realm, 3 DEC
Shafaq News / Iranian Military Chief, General Mohammad Bagheri, stated that his visit to Iraq aims to discuss ways to develop bilateral military relations between the two countries.
Upon his arrival in Baghdad, General Bagheri, speaking to journalists, mentioned, "During this two-day visit to the fraternal and neighboring country of Iraq, we will hold meetings with army leaders and several political officials in this country. Our goal for this visit is to discuss ways to develop military relations between the neighboring countries." \
He added, "We have no problems with Iraq in the security realm; this country, as a friend and neighbor, is continuing the path of military cooperation."
The Chief of Staff of the Iranian Armed Forces emphasized, "At present, there is a large number of university students from the Iraqi army continuing their studies at Iranian military universities, and conversely, there is also the possibility for our military university students to study in Iraq."
He continued, "There will be various operational and educational communications between Iran and Iraq. During this visit, we will discuss and review these areas with the Joint Chiefs of Staff of Iraq and other Iraqi officials. I believe that this visit will lay the groundwork for a proper development of relations."
Furthermore, official ceremonies were held this Sunday morning at the Ministry of Defense headquarters by the Chief of the Iraqi Army Staff for his Iranian counterpart. The latter also met with Iraqi Defense Minister, Thabit al-Abbasi.
Chief of the Iranian Armed Forces, Mohammad Bagheri, along with a high-level military and political delegation from Iran, arrived in Baghdad Saturday evening in response to an invitation from the Chief of the Iraqi Army Staff.
Iraq’s Prime Minister Holds Crucial Meeting with British Ambassador
In an ongoing affirmation of diplomatic ties, Mohammed Shia’ Al Sudani, the Prime Minister of Iraq, held a meeting with the British Ambassador to Iraq. The specifics of their conversation remain undisclosed, an indication of the sensitive and possibly high-stakes nature of their discussion. Such meetings are commonplace in the realm of international diplomacy, serving as avenues to explore bilateral relations, cooperation, and pressing global issues that affect both nations.
Strengthening Bilateral Ties
Their meeting underscores the continuous diplomatic engagement between Iraq and the United Kingdom. In a world increasingly defined by geopolitical shifts and the resulting realignment of alliances, such engagements are key. They provide platforms for dialogue, fostering understanding and cooperation between nations.
Amplifying Diplomatic Engagement
While the details of the discussion are yet to be revealed, the fact that such a meeting took place is significant. It points to the active diplomatic engagement, a testament to the commitment of the two nations to foster a robust relationship. These diplomatic exchanges also serve as a foundation for collaborative efforts, bridging gaps and promoting mutual interests.
Impact on Global Stage
This meeting not only signifies the bilateral relations between Iraq and the United Kingdom but also impacts the global stage. As nations continue to navigate the complexities of global politics, relationships such as these can influence international policies and decisions. The unfolding of these engagements will undoubtedly shape the geopolitical landscape.
