The news...could not get any better. 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. 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.
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.
I asked [my CBI contact] what rate the CBI wants to bring the parallel rate of the dollar down to?
I was told at least around the “official” CBI rate. They are driving to have them match very closely. In consultation with the IMF this is what they are now mandating and is in the plan. When this is reached and stable, the committee will be notified to begin the process of deleting the zeros and move ahead with it.
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Wednesday evening RV’ers!!!
MZ: Some interesting news from Sudani and the US National Security advisor in a sideline meeting at Davos today. If you follow the fundamentals you can’t help but be encouraged.
MZ: “Al Sudani discusses with the US National Security advisor in Davos the formulation of a timetable for ending the International coalition’s mission in Iraq” They had a meeting today on the sidelines in Davos….They are working on a solid timetable for the coalition to leave Iraq. …
MZ: I wonder if this made Al Sudani mad?: :” The US deploys 1,500 soldiers to Iraq, Syria amid rising tensions in the region” The deployment from the New Jersey National guard is the largest since 2008.
Member: WELL WELL they say peace will break out when the RV kicks off, so let’s get it done, ENGAGE THE RV
Member: I wonder if this increased US presence is continuing to hold us back?
Member: Something is delaying things….This is obvious.
Member: Any news on the bond people. update?
MZ: Sources are saying they are expecting some bond movement on the 19th with the release of some bond money….then more being released-all the way out to Feb 10th. So a percentage now and the balance released after the reset. . But remember- Noone knows the exact timing.
MZ: Other bond folks think it could start as early as tomorrow for a small percentage. Lots of rumors out there. Its encouraging to hear there are once again target dates.
MZ: A number of groups are expecting notifications between the 21st and 24th of this month. Will that happen? We do not know.
Member: I think Nader put out 4 or 5 videos in the last 24 hours
Member: Charlie Ward keeps talking about J P Morgan in the process of declaring bankruptcy on the fiat currency side of their business. Any idea what this means?
Member: Sure sounds like we are close…..Keep the faith people and never give up.
Member: Thank you Mark and all Mods for all your hard work and time you spend in here for us all, I am grateful
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Prime Minister Mohamed Shiaa Al-Sudani met in Davos with a delegation from the International Finance Corporation/IFC, headed by Executive Vice President, Mr. Mokhtar Diop.
A government statement said, “The meeting witnessed a review of the prospects for cooperation between Iraq and the international institution, a member of the World Bank Group, in light of the Iraqi government moving forward with economic reforms and implementing major strategic and investment projects.”
Al-Sudani reiterated his assurances, “The government’s readiness to develop the scope of cooperation and partnership with the international institution, especially after the signing of a contract between the Civil Aviation Authority and the international institution to prepare an investment portfolio regarding the Baghdad International Airport development project, to be on par with international airports, and compatible with international standards in a comprehensive manner.”
The IFC delegation expressed its desire to expand its work in Iraq as an attractive region for investment, as well as to participate in the Strategic Development Road project and the major projects attached to it.
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.
There are several plans afoot... Iraq recently held a two day event looking for foreign investment to develop their mineral resources.
During the event, Minister of Industry and Minerals Kahlid Battal Najam offered investors long-term partnership opportunities in a long list of state-linked phosphate, nitrogen, Sulphur, fertilizer and glass production projects. No, Iraq is not short of means of diversification. These examples just scratch the surface.
Al-Maliki’s coalition: Resolving the issue of the Speaker of Parliament is linked to two issues
Information / Baghdad.. The leader of the State of Law coalition, Jassim Muhammad Jaafar, confirmed on Wednesday that resolving the issue of electing the Speaker of the House of Representatives has become a matter of two issues, not a third.
Jaafar said in a statement to Al-Maalouma, “The political forces are awaiting what the Federal Court will decide regarding whether or not to cancel the session to elect the Speaker of the House of Representatives.”
He added, “If the last session for electing the Speaker of the House of Representatives is cancelled, the door for nominations will be opened again, and the Taqaddum Alliance will put forward an alternative candidate for its candidate, Shaalan Al-Karim, who has become a thing of the past and faces an unenviable situation, since his membership is threatened with being dropped due to the presence of conclusive evidence that does not… Accept suspicion regarding his glorification of the banned Baath Party.”
Jaafar pointed out, “The competition will be limited to the sovereignty candidate, MP Salem Al-Issawi, and the Azm Alliance candidate, MP Mahmoud Al-Mashhadani.”
A member of the State of Law coalition pointed out that “the Federal Supreme Court will decide on the case within a period not exceeding the next three days.”
Disagreements escalated between the Sunni political forces over the position of Speaker of the House of Representatives, after they presented more than one candidate, which prompted some political parties to pay huge sums of money in exchange for buying the votes of some representatives, according to sources.