Thursday, January 11, 2024

Hussein: Iraq determines the need for the survival of US forces and we do not want chaos in the relationship with Washington, 12 JAN

 Hussein: Iraq determines the need for the survival of US forces and we do not want chaos in the relationship with Washington

Foreign Minister Fuad Hussein said that “Iraq is the one who determines the need for the survival of American forces or not,” stressing that the international coalition forces “exist at the invitation of the Iraqi government.”

“We do not want to create a chaotic situation in relations with Washington,” Hussein added, considering that “the interior must be prepared before negotiations begin for the withdrawal of US forces from Iraq. In light of the results of the negotiations, the necessary decision will be made, whether to withdraw or to schedule withdrawal.”

He continued: “There have been negotiations in the past, and there was a security military delegation in Washington several months ago. The negotiating process with Washington has stalled but the dialogue continues. And soon we will announce the start date of negotiations at what level and in any form.”

He also said that Baghdad assured Washington that the Iraqi government is “committed to calm,” considering that “recent events are unacceptable, as there have been attacks and counter-attacks.”

Attacks targeting military bases should be “addressed by both parties,” he said, adding that the prime minister was constantly working to reach out to all parties to reach calm.

He also considered that “the situation has changed in the region after the war on Gaza, and there is a tanglement in national and regional matters, explaining that “the decision of the war is determined by the Constitution and the law and there is no decision outside the state. The decision to war is a dangerous decision and we are not war advocates as Iraq needs security and stability.”

Hussein stressed that “the violation of the security situation in Iraq is not allowed by any party, whether external or internal.”

On the attacks affecting the Kurdistan region, Hussein said, “The attack on the Kurdistan region is an attack on the federal government. The continuation of drone attacks on the Kurdistan Region will affect the general situation in Iraq where security in Iraq and the security of Kurdistan cannot be divided with the security of Iraq.”

He said that “part of the problems that Iraq suffers from is caused by the American-Iranian conflict. This conflict will be reflected in the Iraqi arena because it is an open arena.”

Hussein also explained that “part of the problems inside Iraq are related to neighboring countries,” adding that Baghdad held intensive meetings in Turkey to reach a security agreement similar to the agreement with Iran.

https://alforatnews.iq/news/حسين-العراق-هو-من-يحدد-الحاجة-لبقاء-القوات-الأمريكية-ولا-نريد-فوضى-للعلاقة-مع-واشنطن

"RV UPDATE" BY MILITIAMAN, 12 JAN

 Militia Man 

 Iraqi stock exchange soars 97%. The other day we talked about what 52% and that was a pretty bold statement for them to say that.  Now they're talking about 97% annual gain as an indication of economic upswing...

The oil & gas law is a very important and is considered to be integral to the citizens needs and the economic development of the country. They stop short of telling us what came of the oil & gas law today.  Why?

 ...One reason would be that there is exchange rate sensitivity with respect to the law...An exchange rate to be one that is stronger than the dollar  (Per Al-Sudani) will help largely in that regard. So, yesterday they were focusing on the importance of this law and with urgency. A very good sign!!!

 Developing the market for the banking sector is huge because lookthe ISX shows that their index has been up about 52% in 2023...Why is that if Iraq is just status quo and it's just blah...?  It's not.


Iraqi Dinar✅Finally Iraq’s Ready For Dinar Revaluation-Iraqi Dinar News ...

Urgent The House of Representatives will hold its session next Saturday to elect its president, 12 JAN

 Urgent The House of Representatives will hold its session next Saturday to elect its president

The House of Representatives will resume its regular sessions next Saturday after the end of its legislative holiday.

The session was allocated according to the agenda of the parliament to elect a president of the council.

https://alforatnews.iq/news/مجلس-النواب-يعقد-جلسته-السبت-المقبل-لانتخاب-رئيسه


"RV UPDATE" BY KAPERONI, 11 JAN

 Kaperoni 

 There is no significant RV of the Iraqi dinar.  And if the dinar does ever go up in value, it will be based on the success and growth of Iraq's own economy.  There are no shortcuts.

  Article:   "Ali Al-Alaq, the current governor of the Central Bank of Iraq confirms that Iraq's money supply exceeds 100 trillion dinar."

 If and when the Central Bank decides to increase the value of the Iraqi dinar more than likely it will be based on some type of gradual float as a result of the success and growth of Iraq's own economy and an increase in GDP.

I hope each and every one of you find success in this investment...It may take time.  It may  be another 1 to 5 years.  I certainly hope not but I believe things could happen quickly over the next 36 to 48 months.  It all depends on Iraq.  

 ...We all know things don't happen fast in Iraq. Iraq has a lot of work to do in order to succeed. The first of which is pass over 100 stalled laws through Parliament to encourage investment in Iraq.  And at the same time the Central Bank of Iraq has to continue reforms to the banking system, digitalization, and apply monetary tools to meet compliance.

 A country's exchange rate is the result of the success and growth of their own economy. When you have a weak economy, you have a weak exchange rate.  Until Iraq passes laws, diversifies their economy and increases their GDP, nothing will happen with the dinar.  When Iraq passed their tripartite  3 year budget a few months back, it created the conditions for them to diversify and privatize their economy over the next three years.   Now Iraq is on the clock to accomplish such.

There's a new article out that many people are translating and confusing. They are not talking about an RV in Iraq, they are talking about the spread being in compliance early next year. 

 Just a reminder the spread is the difference between the official rate and the market rate or street rate and has been way out of whack recently in Iraq. This article simply means they expect the spread to come down closer to the official rate early next year. There is no RV.

    A very important statement was made back in 2020 by the prime minister's economic advisor Mohamed Salah who used to be Deputy Governor of the CBI under Shabibi. He stated that Iraq's entire wealth including all minerals in the ground amounts to only $16 trillion dollars. Knowing that information one can then determine that there is no way a significant RV could ever occur with over 90 trillion dinar in circulation.  It doesn't make sense...

 They...have to have the dinar stabilized within the country and within the 2% rule mandated by the IMF in order to then accept IMF article VIII and begin to float the dinar which would raise its value based on supply and demand.  All of these processes and or steps required time.

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-kaperoni-10-dec_0650267841.html

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-kaperoni-18-dec.html

Iraqi Dinar ERA New Exchange Rate Fixed Finally-Iraqi Dinar News Today-R...

In the document.. The Central Bank addresses banks and announces its readiness to meet the demands of its customers from the dollar, 11 JAN

 In the document.. The Central Bank addresses banks and announces its readiness to meet the demands of its customers from the dollar

 The Central Bank of Iraq addressed, on Thursday, banks’ readiness to meet the requests of their customers from the cash dollar according to the controls it announced previously.

I’m Electronic Blackmail In Iraq. Daily Crimes And A Law Of Its Age Of Decades

https://alforatnews.iq/news/بالوثيقة-البنك-المركزي-يعلن-عن-استعداده-لتلبية-طلبات-زبائنها-من-الدولار-النقدي

"IN 2 WEEKS AUCTIONS DIE!!!" BY FRANK26, 29 NOV

 KTFA FRANK26:  "IN 2 WEEKS AUCTIONS DIE!!!".....F26 Al-Alaq on the platform closure: There is no sudden transition, but rather a ...