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China Praises Iraq's Efforts To Combat Corruption And Calls For The Speedy Conclusion Of The Memorandum Of Understanding, 12 DEC

China Praises Iraq's Efforts To Combat Corruption And Calls For The Speedy Conclusion Of The Memorandum Of Understanding

Economy | 12/12/2023   Mawazine News – Baghdad  The Head of the Iraqi Federal Integrity Commission and the Director of the International Cooperation Directorate of the Chinese National Oversight Commission (Cai Wei) discussed mechanisms for exchanging experiences in the field of corruption prevention and efforts to combat it and signed a memorandum of understanding between the two sides in this regard.

Haider Hanoun confirmed, according to a statement from the Commission received by Mawazine News during the meeting that took place on the sidelines of the meeting of the tenth session of the Conference of the States Parties to the United Nations Convention against Corruption, which the United States is hosting in the period from (11-15) of this December, he confirmed, The importance of communication and cooperation with the Directorate of International Cooperation of the Chinese National Supervision Commission,” noting “the necessity of providing a safe environment for foreign companies operating in Iraq, especially Chinese ones.”

He praised what he called "the steadfastness of Chinese companies in the face of corrupt people, one of the reasons for which he attributed to the efforts of the Commission and the increase in the pace of the deterrent aspect through control operations."

For his part, Director of the International Cooperation Directorate of the Chinese National Oversight Commission (Cai Wei) pointed out that “the anti-corruption process requires great efforts and the concerted efforts of everyone in order to build and progress,” noting “the remarkable development in anti-corruption efforts in Iraq, both on the The deterrent level or the level of prevention and prevention of corruption.”

He renewed his country's support for the Republic of Iraq in this regard, and sought bilateral partnership in the areas of supporting anti-corruption efforts, calling on the presidency of the Commission to hold a special workshop in Beijing. To strengthen ties and prepare for the completion of the draft memorandum of understanding.

 It is noteworthy that the United Nations Convention against Corruption and the decisions emerging from the meetings of the States Parties to it recommend that States Parties, when necessary and in a manner consistent with the Convention, conclude bilateral agreements among themselves related to cooperation in the field of preventing and detecting corruption crimes and prosecuting natural or legal persons who have committed them, and to cooperate in Close cooperation between them, in accordance with their internal legal and administrative systems, to enhance the effectiveness of law enforcement measures. Ended / 25   https://www.mawazin.net/Details.aspx?jimare=239211

"RV UPDATE" BY WALKINGSTICK, 12 DEC

 Walkingstick  

 You are going to keep hearing more and more about the monetary reform education until they announce it.  This monetary reform was once a secret but...now they're flat out telling you.  That which was once a secret is no longer needed to be a secret.  The secret is no more. 

Question: "Do you think the tellers [In Iraq] have the lower denoms?"  No.  "...Executive levels?"  Yes.  Samples and specimens and LDs only at executive levels right now...

 [Iraqi bank friend update] 

IRAQI BANK FRIEND: The meetings we have had with the CBI we are learning the next steps.  Also we talked about in the meeting we are seeing many people in Iraq now coming into the banks and asking questions and we have given the banks permission, they are now allowed to explain all about the monetary reform process and where it's at right now to the citizens as they ask...

One of their biggest questions is, 'Is it true we are getting a new currency?  Yes.  Are we going to receive more purchasing power with this new currency?  Yes.  Are we going to see a change in our exchange rate?  Yes.  Is this why we are removing the dollar?  Yes.'  

They keep asking questions over and over again.  Also the question people are asking a lot about, 'When?  And how much?'  But at the meeting we agreed that the banks are not to be given that information just yet, not even the upper echelon.  The banks are saying, "In the very near future."  

These questions are due to the fact that it is no longer a secret...The monetary reform has been successful thus far. 

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-walkingstick-11-dec.html

Parliamentary Finance Expects A Decline In Dollar Prices In Iraq, 12 DEC

 Parliamentary Finance Expects A Decline In Dollar Prices In Iraq

Economy | 12/12/2023  Baghdad - Mawazine News  The Parliamentary Finance Committee revealed that the government has spent only 20% of the current year’s budget, and expected to release the rest of the budget on December 20, indicating that the government’s move towards currencies other than the dollar will reduce the pressure on demand for it and thus reduce its prices.

Committee member Jamal Cougar said that the government has spent only 20% of the current year’s budget, and it is assumed that after December 20, a good portion of the budget will be spent for a period of five days until the accounts are closed, noting that with the beginning of the new year, the year’s budget schedules are sent. Next.

He pointed out that the government's move towards currencies other than the dollar will facilitate the issue of trade, on the one hand, and push traders to deal with the platform more and reduce pressure on the dollar instead of focusing on it, stressing that it will contribute to stabilizing its official price.

https://www.mawazin.net/Details.aspx?jimare=239198

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"RV UPDATE" BY MARKZ, 12 DEC

MarkZ 

 There is nothing negative. Some folks are still thinking it will happen mid-month while others think it will be the first of January. Either way –there is nothing negative right now. In fact everything is very positive. 

Bank story...sent to me…:  A couple of weeks ago I had a team meeting with a VP of a bank. This is a smaller bank. T hey wanted to know which bonds and currencies I had. They needed to know what I had – in order to set up my appointment and see if they could handle my (exchange) apt. there or if they needed to send them to a larger bank. (Like Wells Fargo) or a military base.   So this was a “sit-down” with a high level person at a small bank.

 Banking people are telling us we are in the window between now and the first of the year.