Thursday, January 18, 2024
The World Bank announces its support for the government’s measures in the field of modernizing and developing the banking sector, 18 JAN
The World Bank announces its support for the government’s measures in the field of modernizing and developing the banking sector
The World Bank announced its support for the government’s measures in the field of modernizing and developing the banking sector, especially with regard to implementing the electronic payment system.
The media office of Prime Minister Muhammad Shiaa Al-Sudani stated in a statement, a copy of which was received by NRT Arabic, today, Wednesday, that “Al-Sudani, on the sidelines of his participation in the Davos Economic Forum, met with the President of the World Bank Group, Ajay Banga, and they discussed cooperation relations between Iraq and the World Bank, in Various economic fields, which contribute to supporting the government’s efforts and strategic plans towards more investment and development opportunities in Iraq.”
The statement added, “The meeting also witnessed a review of the measures and steps taken by the government and the Central Bank of Iraq, in terms of financial and banking reform. The projects financed by the International Finance Corporation (IFC) were also discussed, most notably the project to rehabilitate and develop Baghdad International Airport.”
The statement explained, “The Prime Minister stressed the importance of World Bank reports reflecting, realistically, the new government’s policies implemented in the economic and banking sectors and supporting the private sector, which aim to diversify the economy, increase its growth, and achieve financial stability, in light of the challenges facing the region and the world.” .
For his part, Banga praised the government’s measures in the field of modernizing and developing the banking sector, stressing his support for those measures, especially with regard to the implementation of the electronic payment system.
nrttv.com
"RESPONSE TO PIMPY'S POST". BY FNU LNU, 18 JAN
Fnu Lnu
[Response to Pimpy's 1-15-2024 post below]
Iraq has more oil than Kuwait. They also have a huge, top of the ground, gold deposit...Iraq has a very large gas supply which would add nearly 3 billion cubic feet a day (bcf/d) – around 517,000 barrels of oil equivalent per day. This will fuel gas powered electricity production. This will eliminate Iran from the equation and they would lose their grip on Iraq.
[Response to Pimpy's Post 1-12-2024 below]
...Iraq is an "IMPORT COUNTRY" with, at this time, little to export except oil. To rebuild the country, they will have to IMPORT almost everything they need so they WANT a very STRONG currency so they get much more for their Dinar...If they were an export country they would want a very cheap Dinar as is the case with Vietnam who profits from a vigorous export business due to cheap DONG.
https://dinarevaluation.blogspot.com/2024/01/response-to-pimpys-post-1-12-2024-by.html
Iraq goes to Davos with five axes, and the challenge of restoring confidence imposes itself during the discussions - urgent, 18 JAN
Iraq goes to Davos with five axes, and the challenge of restoring confidence imposes itself during the discussions - urgent
Prime Minister Muhammad Shiaa Al-Sudani is participating in the fifty-fourth session of the World Economic Forum in Davos, which is being held for the period from 15 to 19 January, and he carries with him a number of files, the most important of which are the economic and banking reforms that the government has pursued and the resolution of the presence file. Foreigners inside Iraqi territory, especially after the voices calling for their exit rose as a result of the state of tension that accompanied the targeting of the headquarters of the Popular Mobilization Forces and a number of factions, and the targeting of the international coalition bases in Baghdad and Erbil.
An Iraqi vision
Iraqi government spokesman Bassem Al-Awadi explained five priorities for Iraq's participation in the Davos Forum.
Al-Awadi said in press statements that the 54th annual meeting of the Davos Economic Forum is being held against the backdrop of the Gaza and Ukraine wars, the artificial intelligence revolution, the cost of living crisis and the issue of climate change, in an event that lasts five days, pointing out that “it was agreed that the topic of the meeting should be This year for global political and business leaders, celebrities and prominent social activists is about rebuilding trust.
Iraq reforms
Al-Sudani, during his participation in the Global Forum, on Wednesday (January 17, 2024), met with the President of the World Bank Group, Ajay Banga, where he reviewed Iraq’s steps towards financial and banking reform.
According to a statement by Al-Sudani’s office, the meeting discussed cooperation relations between Iraq and the World Bank, in various economic fields, which contribute to supporting the government’s efforts and strategic plans, towards more investment and development opportunities in Iraq, in addition to reviewing the measures and steps taken by the government and the Central Bank of Iraq, on At the level of financial and banking reform, projects financed by the International Finance Corporation ( IFC ) were also discussed, particularly the rehabilitation and development project of Baghdad International Airport.
Foreign presence
In light of Iraq's new position on the presence of international coalition forces in Iraq, and the increasing pace of escalation through the bombing of international coalition headquarters and the American response to faction headquarters in several areas, the Prime Minister's statements came to indicate the importance of agreeing on a time frame (for withdrawal) and for it to be quick so that We will not prolong the presence and the attacks will continue. What he indicated is that the only way to avoid a regional escalation is to stop the war in Gaza. According to this principle, the issue of the presence of these forces was present in the Sudanese meetings as part of his participation in the Davos Forum, where he met the Sudanese on Tuesday (16 January 2024), with US National Security Advisor Jake Sullivan, where the meeting witnessed confirmation of the start of the work of the bilateral committee to review the presence of the international coalition in Iraq, which was agreed upon during the visit of the Minister of Defense to the United States of America in August of last year, and to discuss In formulating a timetable to end the coalition mission and move to comprehensive bilateral relations with the coalition countries.”
In the same context, on the sidelines of his participation in the conference, on Tuesday (January 16, 2024), Al-Sudani reviewed the government’s economic and development plans in a working meeting in which heads and representatives of 57 international companies specialized in the fields of energy, oil and gas, and various economic fields participated.
The Prime Minister presented "the government's plans in the field of development and economic reform, which have come a long way, and the great investment opportunities, industrial city projects, the large Al-Faw port, the vital development road project, and integrated oil field projects."
The climate issue and its challenges will not be absent from the Iraqi discussions during the meetings that the Prime Minister will hold, especially after the Prime Minister directed, on Sunday (December 24, 2023), to appoint an official spokesman to spread environmental and health culture. link
Wednesday, January 17, 2024
"RV UPDATE" BY MARKZ, 18 JAN
MarkZ
[via PDK] Article: “Al Sudani arrives in Davos to push the “Development and Road Agenda” He is pushing to be international in world trade.
Article: “Liberation of the dinar from the official rate: Obstacles and Solutions” They are again talking about the need to increase the value and adjust all the mechanisms to do so. They talk about killing the black market because the markets will determine the new rate.
There is a lot of news out of Iraq. According to the Iraqi press they are working hard on a change of value and deleting of the zeros. Deleting the zeros does not mean just take the zeros off…it means the dinar gains so much strength that you cannot use the bills with the 3 zeros on it… This is good news for us.
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...