Thursday, January 18, 2024
"RV UPDATE" BY MNT GOAT, 18 JAN
Mnt Goat
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.
Evening News with MarkZ. 01/17/2024
Al-Sudani meets in Davos with a delegation from the International Finance Corporation (IFC)., 18 JAN
Al-Sudani meets in Davos with a delegation from the International Finance Corporation (IFC)
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.
dijlah.tv
"COMPLETE RESPONSE OF FNU LNU TO PIMPY'S POST", 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.
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.
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