DINAR IRAQ AND DONG VIETNAM
Al-Sudani: We are open to all forms of cooperation with international companies, 17 JAN
Economy News – Baghdad
Prime Minister, Muhammad Shiaa Al-Sudani, confirmed on Tuesday that Iraq is open to all forms of cooperation with international companies to develop the oil sector and expand gas investment.
The Prime Minister’s media office stated, in a statement seen by Al-Iqtisad News, that “Al-Sudani received, on the sidelines of his participation in the Davos Economic Forum, the head of the HKN Energy oil company, Ross Perot Jr.”
The statement added, “The meeting witnessed discussion of all oil projects and the opportunities available for partnership and development in this field, as the Prime Minister reviewed the government’s plans to develop the oil sector, expand gas investment, and the upcoming licensing rounds.”
Al-Sudani pointed out, according to the statement, “Iraq’s openness to all forms of cooperation with international companies that possess modern technology,” stressing “the determination to continue working to develop the Iraqi investment environment.”
Yesterday, Monday, Prime Minister Muhammad Shiaa Al-Sudani arrived in Switzerland to participate in the 54th edition of the Davos Economic Forum.
The Davos Forum will be held this year under the slogan “Rebuilding Confidence,” and will discuss several political issues, most notably the war on Gaza, and economic, climate, and health issues that constitute major challenges facing the world today.
Why is the WTO important for our investment in the dinar?
It is important because Iraq will need an international currency in order to trade with the international markets. Please don’t tell me again that the dinar is already “international” it is not until it is reinstated on the currency exchanges and traded internationally. Get it? There is no way around this. So, let’s stop all this bullshit and nonsensical lies, all you intel gurus!
News such as this today is all of what we should expect at this time. Iraq is progressing nicely with their new monetary policies. They are having some quirks along the way and they are working through them. Prime minister Al-Sudani attendance at the World Economic Forum (WEF) is a very good sign but an unnecessary event for us. You know I much a dislike this WEF as it is the elitist trying to mold our sovereign nations to their liking and not the peoples.
The WEF is full of lies and grad sounding ideals. But nice for who, the elite so they can control us and our countries resources? So, Al-Sudani was invited to this meeting and so he attends. Much of the agenda could impact Iraq and so it is a good idea to attend these meetings. They are NOT discussing the RV, trust me. The annual meeting of the WEF is NOT all about the Iraq currency and RV. To be a member of the WTO and a global player Iraq must attend and participate in these meetings. That is all the significance of this event and so don’t read into it.
Remember I told everyone that when we hear of the official announcement of Iraq joining the World Trade Organization (WTO) they really should have an international currency at about that time or coming very, very soon. I did not say that Iraq MUST have an international currency. Did I say that – NO! It is NOT mandatory to join the WTO. Any county however, must have a currency and so Iraq already does. Get it? But we know the long-term plan is to re-peg the IQD and float it on FOREX. This is really what they need out of necessity not some WTO mandate.
Why wouldn’t the WTO also want this and want it when they bring them back to the WTO? So, let’s just stick to the FACTS and not go off half-cocked with suppositions and rumors to suit our intel. However don’t be shocked either if they do the formal announcement of the full accession of Iraq and yet they are still not yet on FOREX. Don’t let all these ignorant intel gurus out there fill you head with their gobbley goop 😊.
So, today there is an article that came out teasing us about Iraq’s accession to the WTO in the coming period. WOW! WOW! WOW! news. But NOT yet! I did not say this was the final announcement. So don’t put words in my mouth.
I quote from the article – “ Iraq is preparing for a major change in the trade file with the countries of the world and is preparing to exceed the limits set for Iraqi goods, with its return to the World Trade Organization 14 years after it was expelled” .
As you may know the Kingdom of Saudi Arabia’s mission to the World Trade Organizationis responsible for the file of Iraq’s accession. Saqr al-Muqbel, the Saudi representative, visited Iraq on Monday, yesterday and delivered a speech in which he reviewed the importance of joining the World Trade Organization. To me this is a shot over the bow- a get ready shot! 😊 A get ready announcement.
Al-Muqbil said in a press conference followed by Al-Iqtisad News and I quote – “I find Iraq’s accession to be a serious message from Iraq to the whole world, that Iraq is continuing its path of engagement with the whole world,” He pointed out that “these achievements depend on Iraq’s signals to join and accelerate its pace to find Iraq in its usual position and as one of the largest economies in the Arab region and the Middle East.”
For his part, the Iraqi Minister of Commerce, Atheer Al-Ghurairi, said and I quote again – “Iraq is taking steps to return as a strong economic player by opening relations with Arab countries and all countries of the world, (“all countries of the world” – WOW!) ” noting that “today, within a year, we were able to finalize three files and submit them to the committee related to Iraq’s accession to the World Trade Organization.” global trade in goods and services and we accomplished in one year the equivalent of more than 15 years’ work.”
He stated and I quote – “opening the doors to Iraqi goods and trade exchange through global controls will protect Iraq from entering the global market with its weight in the event that it fulfills its requirements and that our production is international and not local,” noting that currently “Iraqi goods are now not allowed to go outside certain borders, and joining the WTO is possible to reach the farthest country in the world.”
Al-Muqbil said in a press conference followed by Al-Iqtisad News, “I find Iraq’s accession to be a serious message from Iraq to the whole world, that Iraq is continuing its path of engagement with the whole world,”
So, here is my main point to the WTO announcement. They just told us they are now aggressively pushing to get Iraq into the WTO. Why now after 20 years since 2003? They told us they did the work in 1 year that would take and I quote – “global trade in goods and services and we accomplished in one year the equivalent of more than 15 years’ work”. Folks I don’t know about you but I can clearly see something is up with the currency and there is about to be a major breakthrough for us investors. How can you deny now what is about to happen. Just be patient and let it all come to us, as it won’t be long now.
Then on Tuesday, today, in another article we learn the accession committee discussed with the Saudi delegation the requirements for Iraq’s accession to the World Trade Organization, most notably the approval of the intellectual property law, which is one of the conditions for joining the organization. So we need to pay attention to parliament to take up this law and discuss it and pass it.
The Chairman of the Parliamentary Committee, Representative Ahmed Salim Al-Kanani, confirmed that Iraq has been striving hard since 2006 to join the World Trade Organization in order to raise the level of the economy in the country and make it within international standards, pointing out that Iraq has completed all the requirements for joining the World Trade Organization in 2023, and only legislation remains.
Sudanese advisor on the bombing of Erbil: Some security officials in Iran are misleading their leaders
Shafaq News/ The Prime Minister’s advisor, Khaled Al-Yaqoubi, described the Iranian bombing of Erbil as a “major violation” of Iraqi sovereignty and a violation of the principles of good neighbourliness. While he indicated that the Iranian security leaders are misleading their subordinates to cover up their failure in the Kerman attack, he stressed that the bombing will change the nature of the relationship between Baghdad and Tehran.
The Sudanese security advisor, Khaled Al-Yaqoubi, said in a statement to Al Jazeera, followed by Shafaq News Agency: “The Iranian bombing of Erbil is strongly rejected, and represents a major violation of Iraqi sovereignty and a violation of the principles of good neighborliness.”
He added, “Some security leaders in Iran are misleading the Iranian leadership, in order to cover up their failure to prevent the Kerman attack.”
Al-Yaqoubi continued, “Even if the Iranian allegations are true, this does not give it the right to violate Iraqi sovereignty, bomb Erbil, and target innocent civilians.”
He stated, “We will take all possible measures to preserve Iraqi sovereignty, and the recent Iranian bombing will greatly change the nature of the relationship between Baghdad and Tehran, in various fields,” pointing out that “the Iranian attacks on Erbil are rejected, condemned, and denounced, and all the justifications issued by Iran are unconvincing for the Iraqi government.”
Iraqi National Security Advisor Qasim Al-Araji confirmed earlier on Tuesday that Iran’s claims of targeting a Mossad headquarters in Erbil Governorate were baseless, as he described them.
Al-Araji said in a tweet on the X website, followed by Shafaq News Agency, that “We were briefed on the ground, along with members of the investigative committee, at the home of the targeted businessman last night in Erbil, and it turned out that the allegations that talk about targeting a Mossad headquarters are baseless. We continue meetings with “The security services in the region, and we will submit the report to the respected Commander-in-Chief.”
The Minister of the Interior of the Kurdistan Region, Reber Ahmed, and the National Security Advisor, Qasim Al-Araji, who heads a high-level security delegation, were briefed on the sites of the bombing launched by the Iranian Revolutionary Guard on areas in the city of Erbil, which resulted in casualties and injuries among civilians.
On Monday night into Tuesday, the Iranian Revolutionary Guard launched a violent bombardment with ballistic missiles targeting civilian areas in the city of Erbil, which led to 10 civilians being killed or wounded.
The Revolutionary Guard claimed responsibility for the strikes that targeted Erbil, and said in a statement that they came “in response to the crimes of the Zionist regime against the Islamic Republic, the most recent of which was the killing of a number of Guard leaders by Zionist fire. A major spy headquarters for the Mossad in the Kurdistan region of Iraq was targeted and destroyed with ballistic missiles.” “.
At dawn today, the Kurdistan Region Security Council considered the missile bombardment launched by the Iranian Revolutionary Guard, which targeted civilian areas in the city of Erbil, a “flagrant violation of the sovereignty” of the region and all of Iraq.
shafaq.com
STATUS OF THE RV
Oh… gag orders we are so close? Or can’t get any more intel from sources? Or we are so close! Or green light given. Or Sudani needs RV for Davos meeting or RV turned over to IMF. Or rate blinking on bank screens. Are you sick and tired of such bullshit? Folks it’s all just such BULLSHIT! Let’s get to some real and factual news today…okay?
NO, the RV did not yet happen! But we all should know the process is in motion. How can anyone deny it when we look at all the progress made in 2023 on currency reform. The dinar and dollar crisis filled the headlines every day.
The news in today’s Newsletter could not get any better. Once again, I don’t have to lie to you and give out sensationalized bullshit. I know we all await news of the accession of Iraq to the WTO. Many have asked if Iraq has already completed the accession process. I will tell you they have completed it and we are waiting for the announcement of full accession but there is some legislation requirements that must be met first. I will explain this to you from today’s articles.
Why is the WTO important for our investment in the dinar?
It is important because Iraq will need an international currency in order to trade with the international markets. Please don’t tell me again that the dinar is already “international” it is not until it is reinstated on the currency exchanges and traded internationally. Get it? There is no way around this. So, let’s stop all this bullshit and nonsensical lies, all you intel gurus!
News such as this today is all of what we should expect at this time. Iraq is progressing nicely with their new monetary policies. They are having some quirks along the way and they are working through them. Prime minister Al-Sudani attendance at the World Economic Forum (WEF) is a very good sign but an unnecessary event for us. You know I much a dislike this WEF as it is the elitist trying to mold our sovereign nations to their liking and not the peoples. The WEF is full of lies and grad sounding ideals. But nice for who, the elite so they can control us and our countries resources? So, Al-Sudani was invited to this meeting and so he attends. Much of the agenda could impact Iraq and so it is a good idea to attend these meetings. They are NOT discussing the RV, trust me. The annual meeting of the WEF is NOT all about the Iraq currency and RV. To be a member of the WTO and a global player Iraq must attend and participate in these meetings. That is all the significance of this event and so don’t read into it.
Remember I told everyone that when we hear of the official announcement of Iraq joining the World Trade Organization (WTO) they really should have an international currency at about that time or coming very, very soon. I did not say that Iraq MUST have an international currency. Did I say that – NO! It is NOT mandatory to join the WTO. Any county however, must have a currency and so Iraq already does. Get it? But we know the long-term plan is to re-peg the IQD and float it on FOREX. This is really what they need out of necessity not some WTO mandate. Why wouldn’t the WTO also want this and want it when they bring them back to the WTO? So, let’s just stick to the FACTS and not go off half-cocked with suppositions and rumors to suit our intel. However don’t be shocked either if they do the formal announcement of the full accession of Iraq and yet they are still not yet on FOREX. Don’t let all these ignorant intel gurus out there fill you head with their gobbley goop 😊.
So, today there is an article that came out teasing us about Iraq’s accession to the WTO in the coming period. WOW! WOW! WOW! news. But NOT yet! I did not say this was the final announcement. So don’t put words in my mouth.
I quote from the article – “ Iraq is preparing for a major change in the trade file with the countries of the world and is preparing to exceed the limits set for Iraqi goods, with its return to the World Trade Organization 14 years after it was expelled” .
As you may know the Kingdom of Saudi Arabia’s mission to the World Trade Organizationis responsible for the file of Iraq’s accession. Saqr al-Muqbel, the Saudi representative, visited Iraq on Monday, yesterday and delivered a speech in which he reviewed the importance of joining the World Trade Organization. To me this is a shot over the bow- a get ready shot! 😊 A get ready announcement.
Al-Muqbil said in a press conference followed by Al-Iqtisad News and I quote – “I find Iraq’s accession to be a serious message from Iraq to the whole world, that Iraq is continuing its path of engagement with the whole world,” He pointed out that “these achievements depend on Iraq’s signals to join and accelerate its pace to find Iraq in its usual position and as one of the largest economies in the Arab region and the Middle East.”
For his part, the Iraqi Minister of Commerce, Atheer Al-Ghurairi, said and I quote again – “Iraq is taking steps to return as a strong economic player by opening relations with Arab countries and all countries of the world, (“all countries of the world” – WOW!) ” noting that “today, within a year, we were able to finalize three files and submit them to the committee related to Iraq’s accession to the World Trade Organization.” global trade in goods and services and we accomplished in one year the equivalent of more than 15 years’ work.”
He stated and I quote – “opening the doors to Iraqi goods and trade exchange through global controls will protect Iraq from entering the global market with its weight in the event that it fulfills its requirements and that our production is international and not local,” noting that currently “Iraqi goods are now not allowed to go outside certain borders, and joining the WTO is possible to reach the farthest country in the world.”
Al-Muqbil said in a press conference followed by Al-Iqtisad News, “I find Iraq’s accession to be a serious message from Iraq to the whole world, that Iraq is continuing its path of engagement with the whole world,”
So, here is my main point to the WTO announcement. They just told us they are now aggressively pushing to get Iraq into the WTO. Why now after 20 years since 2003? They told us they did the work in 1 year that would take and I quote – “global trade in goods and services and we accomplished in one year the equivalent of more than 15 years’ work”. Folks I don’t know about you but I can clearly see something is up with the currency and there is about to be a major breakthrough for us investors. How can you deny now what is about to happen. Just be patient and let it all come to us, as it won’t be long now.
Then on Tuesday, today, in another article we learn the accession committee discussed with the Saudi delegation the requirements for Iraq’s accession to the World Trade Organization, most notably the approval of the intellectual property law, which is one of the conditions for joining the organization. So we need to pay attention to parliament to take up this law and discuss it and pass it.
The Chairman of the Parliamentary Committee, Representative Ahmed Salim Al-Kanani, confirmed that Iraq has been striving hard since 2006 to join the World Trade Organization in order to raise the level of the economy in the country and make it within international standards, pointing out that Iraq has completed all the requirements for joining the World Trade Organization in 2023, and only legislation remains.
You can read both of these the full articles the Articles Section of today’s Newsletter.
So once again, if all this good news about the WTO didn’t get you excited, I have more WOW news today for you. In another article the Parliamentary Integrity Committee Sarwa Abdul Wahid, on Friday, reported a loss of more than $ 21 billion annually due to the currency difference, stressing, that Parliament will host all responsible parties to put an end to this theft.” Oh this part is not good but the response to it will put pressure to do something about these currency auctions, which are now on the “electronic platform”.
But where does this theft come from? How is it allowed?
Abdul Wahid said in a tweet on the site (X), followed by Mawazine News, ” the government and central bank are unable to control on the parallel market, or they don’t want to.” She also pointed out and I quote from the article – “Iraq’s oil is sold in dollars, The government and the central bank calculate every 100 dollars at 132 thousand dinars, in the currency difference to sell Iraq loses more than 21 billion dollars, and there are similar amounts in currency differences, The only beneficiaries are parties, companies and banks affiliated with influential figures.”
She then also pointed out and I quote – that “Parliament is in its new legislative term must put an end to all these public thefts, and we will work to host all parties. Let’s come up with radical solutions.”
What can be the future solutions?
The head of the New Generation Parliamentary Bloc, Sarwa Abdel Wahed also pointed out and I quote from the second of today’s articles on this subject matter– “that there are parliamentary demands to stop these obvious thefts that come in the context of its new legislative term, as Parliament must put an end to these practices and work to host all responsible parties to take radical solutions to this financial crisis.”
Remember these thefts come from the spread between the CBI official rate and the parallel black market rate. My main point today in bringing this WOW article news to you is to point out that we are now seeing pressure from all sides to fix this theft of billions from this former sanction process of using the dollar for doing business of trade. Yet we know Iraq is now fully out of sanctions. Does this seem weird to you? It does for many PMs.
So, because Iraq took so long in getting out of sanctions there is a stigma now to let go of the dollar. Too many backroom deals being made and its big money to keep going on the dollar. Is it really out of necessity or greed? The only way out is TRULY to MAKE THE DINAR MORE VALUABLE THAN THE DOLLAR. This is not hard to do since we know the history of the dinar and we know the rate is now “artificially being suppressed”.
The use of dollar had become an integral part of their economy since 2003. But they must let go, at least to the point of using other currencies too and get off the sole use of the dollar. We witnessed many measures to do so in 2023 and all of this effort fits into the 2011 CBI plan to de-dollarize as one of the first steps necessary to conduct the project to delete the zeros and then to reinstate the dinar back on FOREX.
As we know the Iraqi dinar has been off the sole de-facto peg to the US dollar (program rate) for about a year now. So, there are all the right reasons to reinstate the dinar and do it soon. This thievery can’t go on much longer there is too much money at stake.
BUDGET DEFICIT? REALLY?
Remember how the GOI always talks about budget deficits and how they don’t want to have to borrow money to fill a budget gap. Well Iraq….here is $21 billion annually going down the toilet. Could they use this money to fill the gap? Is this thievery causing them a deficit in the first place?
