Trade announces the conclusion of the activities of the Baghdad exhibition and touches on its results, 20 JAN

Trade announces the conclusion of the activities of the Baghdad exhibition and touches on its results

Economy News – Baghdad

The Ministry of Commerce announced today, Saturday, the conclusion of the activities of the Baghdad International Fair in its 47th session, while touching on its advantages.

The Minister of Commerce, Atheer Al-Ghurair, said in a statement received by “Economy News: “The activities of the session were distinguished compared to previous sessions in terms of organization, qualification, diversity and size of participations of countries and companies, as well as the achievement of many partnership contracts between the Iraqi sectors and sectors of countries and companies participating in the international session.”

He pointed out that “the Baghdad International Fair is a message to the world that Iraq is coming strongly as an important economic player capable of containing and interacting with the largest international gatherings in a way that serves the aspirations of our people for a free and dignified life, as well as that the exhibition was a message from the participating countries for their desire to build bridges of cooperation with Iraq.”

For his part, the company’s general manager Mustafa Al-Ani confirmed “the conclusion of the activities of the Baghdad International Fair as another year in his pioneering career that accompanied its launch in the 1960s,” and said that “this session was characterized by the participation of 22 countries and 850 local, Arab and international companies, which is the highest participation compared to previous sessions, where the participation of the Kingdom of Arabia was the largest participation.”

He added that “the conclusion of this session gives other aspects to the new Iraq in its economic developments, which can give it the opportunity to enter international investments, as the exhibition witnessed commercial shows of various international and local goods and goods in addition to the projects and achievements of local and international companies from various sectors as well as projects related to infrastructure, agricultural, industrial, technological and other fields.”

https://economy-news.net/content.php?id=39630

"RV UPDATE" BY MNT GOAT, 20 JAN

 Mnt Goat  

 So, how long will us investors in the IQD have to wait before Iraq is allowed to liberate its own currency? 

Why do I say “now is the time”?  We know they are completely out of Chapter VII sanctions since December 2022...We know they want the Iraq funds (nearly USD 115+ billion) released from the NY banks and put in their custody...We know they have plans for yet more Sovereign Funds to invest their reserves. 

 We know they are making agreements now for “currency swaps” for trade...as Iraq will no longer be using any US dollars in Iraq as of January 1st 2024. We know that the IMF is now working on the final stages of pulling together agreements to build a new basket of six (6) currencies to re-peg the IQD.  More pressure from Iraqi economics advisors to the government to use a “basket” of currencies for the new dinar peg. This is the IMF plan of 2011 all along. 

 We know since January they have undertaken a massive “de-dollarization” program and told it should have taken 6 years but they decided to do it in 1 year (2023). 

 Why such a hurry? 

We know the value of the IQD right now does exceed even pre-1991 era but still at 1/6 of a penny for a rate? 

The value won’t go up, its already there ... 

Why is it being suppressed?

 Iraq needs to see a rate reflecting the TRUE VALUE. 

What is holding it back? 

We know Iraq now pumps 2/3 more oil than in pre-1991 era. Iraq also has announced 132+ tons of GOLD reserves. We know they are pushing this year alone, more than any other year since 2005, for the passing of Oil and Gas law. 

 Why? 

We know for a FACT that it is the U.S. through the Treasury Dept. direction that will NOT give sign-off to allow the reinstatement. 

Why?

Finally, the CBI has told us many times already that January is the most opportune time to reinstate for accounting purposes, since it begins their new FISCAL year (for accounting purposes).  Imminent World Trade Organization full accession.  

Just be patient, the reinstatement is coming and I firmly believe from what we now know there is a very strong likelihood we NOT are going to be at the banks in early 2024 but there is still strong hope for early part of the new year.

 There is no guarantees and so no one really knows a date when the event will occur. Let’s just follow the FACTS and see where they lead us…okay? Iraq is full of surprises and so anything is possible.  

Exclusive Insights Iraq's Dual Dinar Rates Revealed! International vs. I...

Minister: Baghdad International Fair achieved many partnership contracts with Iraqi and international sectors, 20 JAN

Minister: Baghdad International Fair achieved many partnership contracts with Iraqi and international sectors

Shafaq News/ The Minister of Commerce, Atheer Al-Ghurairi, announced on Saturday the conclusion of the activities of the 47th Baghdad International Fair after achieving “a great success” amid a huge official and public outpouring, whose activities began on the 10th until the 19th of this month of January.

In a statement today, the Minister stressed that “the course’s activities were distinguished compared to previous sessions in terms of organization, qualification, diversity and size of participation by countries and companies, as well as the achievement of many partnership contracts between Iraqi sectors and sectors of countries and companies participating in the international session.”

He pointed out that “the Baghdad International Fair is a message to the world that Iraq is coming strong as an important economic player capable of containing the largest international gatherings and interacting with them in a way that serves the aspirations of our people for a free and dignified life. In addition, the exhibition was a message from the participating countries of their desire to extend bridges of cooperation.” With Iraq.”

For his part, the company’s general manager, Mustafa Al-Ani, confirmed, “The conclusion of the activities of the Baghdad International Fair, bidding farewell to another year in its pioneering journey that accompanied its launch in the sixties of the last century.” He said, “This session was distinguished by the participation of 22 countries and 850 local, Arab, and international companies, which is the highest participation compared to the sessions.” Previously, the participation of the Kingdom of Saudi Arabia was the largest.

He added, “The conclusion of this session gives other aspects to the new Iraq in its economic developments, which could give it the opportunity to enter international investments, as the exhibition witnessed commercial displays of various international and local commodities and merchandise, in addition to the projects and achievements of local and international companies from various sectors, as well as projects related to infrastructure.” agricultural, industrial, technological and other sectors.”

shafaq.com

"RV UPDATE" FROM WOVERINE VIA TRUTHWARRIORS, 20 JAN

 Forwarded from Wolverine:

Gem Finch, [19/01/2024 2:41 PM]

IT’S GOING TO BE ONE OF THE BIGGEST BLESSINGS TO NEVER EVER AGAIN HAVE TO WORRY ABOUT WHERE THE NEXT SOURCE OF FUNDS IS COMING FROM TO PAY THOSE MOUNTING BILLS  – THE  FAMILY OFFICE FOR INSTANCE HOPEFULLY WILL TAKE ON THAT HORRIBLE TASK FOR US  – (BEING EXCEEDINGLY WELL PAID TO DO SO  – OF COURSE)  – AND YOU CAN’T TELL ME OH SO MANY OF US – ARE FINALLY GOING TO GET TO GO ON A DREAM HOLIDAY  – LIKE ME YOU PROBABLY DON’T EVEN REMEMBER THE LAST HOLIDAY YOU HAD  IT WAS SO SO SO LONG AGO.   

A NEW HOME FOR MANY IS A PRIORITY, I KNOW IT IS FOR MY SON AND I  – CAN’T WAIT TO GET OUT OF THIS CONCRETE JUNGLE – NEVER AGAIN – AT LEAST IT’S CEMENTED IN MY MIND WHAT I DON’T WANT AND A VERY CLEAR AND BEAUTIFUL PICTURE OF WHAT I DO WANT  – AND FOR ME PEACE OF MIND, AND PEACE AND QUIET ARE PARAMOUNT – ALONG WITH SPACE TO BREATH  – A BEAUTIFUL VIEW AND HOPEFULLY NO CLOSE NEIGHBOURS, NOT THAT I DON’T LIKE PEOPLE, I DO  – BUT LIVING AS WE HAVE THESE PAST 10+ YEARS, HASN’T BEEN FUN AND FOR SURE NOT SOMETHING YOU’D WANT TO REPEAT ANYTIME SOON. 

  FOR THOSE OF YOU THAT ALREADY HAVE A LOVELY HOME AWESOME  – FOR ALL OF US SOON TO HAVE A LOVELY NEW HOME – THAT’S AWESOME TOO – THEY KEEP SAYING  DO WHAT BRINGS YOU JOY AND HAPPINESS.  THOSE LONG HEART HELD PROJECTS WILL OF COURSE ULTIMATELY BRING THE MOST JOY TO OUR WHOLE BEING – HEARTS – MINDS AND SOULS – COMPLETELY FULFILLED BY HELPING OTHERS WITH NOT EVEN A THOUGHT AS TO THE COST – NOW THAT’S FINANCIAL FREEDOM.  

 WE I KNOW WILL HAVE ALL THE HELP AND GUIDANCE WE COULD EVER POSSIBLY NEED – ALL WE HAVE TO DO IS ASK AND OUR MENTORS AND ANGELS AND LOVED ONES I KNOW WILL ALWAYS BE WILLING TO OFFER THEIR LOVE AND GENTLE KIND NUDGES TO KEEP US ON TRACK.   IT’S GOING TO BE HARD ISN’T IT – EVEN FINDING WORDS TO BEGIN TO EXPRESS OUR DEEPEST GRATITUDE AND THANKS TO OUR FATHER AND JESUS AND THOSE WONDERFUL GUIDING ANGELS BUT BECAUSE LOVE IS ALL THERE IS  – WE’LL FIND A WAY  – LETS SEE WHAT IS IN GOD’S WORDS TO TELL US ABOUT  – LOVE BEING IS ALL THERE IS – 

Love is mentioned 168 times in the English Standard Version of the Book of Psalms.

Many of the Psalms were written by King David, a man after God’s own heart, and from whose line Jesus descended. 

King David recognised God was sovereign over all the decisions and actions on earth.  God is always moving, beyond what we can see. 

PSALMS 70 : 21-22

LOVE GIVES US HOPE

“You who have made me see many troubles and calamities will revive me again;
from the depths of the earth you will bring me up again.
You will increase my greatness and comfort me again.”

Bruce just said at the opening of the call that from what he’s hearing  – seeing as Bob’s last song was “Celebrate”  – that we too might just be about ready to be in Celebration Mode.

INTEL ONLY

*WHERE ARE WE NOW*

Iraq – we heard from our source – in Iraq that not only do we have an Intl and In-country rate but we also have Iraq trading that rate internationally about when markets close tomorrow Friday about 5  – 6 pm and we should see it in the US  – if you are able to see the bank screens for trading and we know it’s still really strong and way above the Intl and In-Country and that’s just a benefit we have at the RC – so that is really cool.

Bond Holders they have been waiting just like us and they should receive something Saturday should receive access to funds  – so in about 48 hours time so Bond Holders can see what is in their accounts and they’ll be able to get access to 10% so that’s great news for them.

And today from 11am to 2:15 a final CC all the information and protocols that the RC needed to have a call that answered questions  from Treasury and WF to RC around the US  – so we have over 11,000/12,000 around the US they are everywhere and they said it was the last email and last CC to have and that’s positive.   That’s a long call  – last minutes updates today.

https://t.me/TruthWarriorsUnited/170255

https://dinarchronicles.com/2024/01/19/all-documents-signed-rv-gcr-updates-from-wolverine-via-truth-warriors-1-18-24/

Vietnam Dong update for 01/19/24 - WOW several politicians arrested for ...BY PIMPY

The role and challenges of Iraqi banks in economic development, 20 JAN

 The role and challenges of Iraqi banks in economic development, 20 JAN

The Iraqi banking sector plays a crucial role in shaping the country’s economic landscape. Institutions such as the International Development Bank, the National Bank of Iraq, the Bank of Baghdad, the Rafidain Bank, Al-Rasheed Bank, and the Commercial Bank of Iraq constitute essential components of the financial infrastructure in Iraq. Although they contribute significantly to financialintermediation, investment and development financing, challenges remain, hindering their full potential.

The banking sector in Iraq is diverse, and includes private entities such as the International Development Bank and the Bank of Baghdad, along with state-owned giants such as the National Bank of Iraq, Al-Rafidain, Al-Rasheed, and the Commercial Bank of Iraq. Each institution plays a unique role in the economic ecosystem, contributing to financial stability, growth and development, and despite their critical role, Iraqi banks face enormous challenges that limit their effectiveness. Sectarian and partisan quotas within the banking system, in addition to administrative and financial corruption, have restricted these institutions. The Commercial Bank of Iraq, which was established in 2003 under coalition authority, faces restrictions primarily related to lending to the government.

In addition to the obstacles to financial facilitation, although the Trade Bank of Iraq is able to open credits, it imposes strict requirements on commercial banks, which hinders their ability to facilitate trade. High guarantees of up to 110% create obstacles for local companies and limit their participation in international transactions. Transparency issues and the demand for specialized staff increase the complexity of the process, creating disparities in the treatment of local and international clients.

As for the World Bank and local loans, despite the efforts made to strengthen local financing, the World Bank’s success in obtaining less than 5% of small projects through Iraqi local loans raises questions. The high efficiency required by Iraqi banks, especially in investment projects, conflicts with international standards, which may hinder economic development in the country.

The challenges faced by Iraqi banks extend to the public, affecting citizens’ confidence in the banking system. Memories of looting and theft during the 2003 invasion still linger, causing reluctance to deposit money in banks. World Bank figures reveal that only 23% of Iraqi families have accounts in financial institutions, reflecting a broader lack of confidence in the banking sector.

This sector suffers from the dilemma of dollarization, and according to economists, the contradiction between official rhetoric and reality is very clear, and while the state encourages depositing savings in banks, legal reforms and basic services are still absent. Ghanem points out that Iraqi banks do not allow deposits in dollars for savings, which leads to large losses in hard currency. Many Iraqis prefer to store their savings in dollars at home, which erodes confidence in local currencies.

To address these challenges, a comprehensive approach is necessary. Reforms aimed at reducing corruption, improving transparency, and simplifying banking operations could enhance the efficiency of Iraqi banks. Encouraging financial education and digital payment methods can also contribute to rebuilding public confidence. Striking a balance between regulatory measures and facilitating economic growth will be necessary for the Iraqi banking sector to play a stronger role in the country’s economic development.

Economic Studies Unit, North American Office,
Rawabet Center for Research and Strategic Studies

rawabetcenter.com