Once again…resubmitting the oil and gas law to the discussion table of Parliament and the government, 21 JAN

Once again…resubmitting the oil and gas law to the discussion table of Parliament and the government

Information / Baghdad..
The representative of the Patriotic Union of Kurdistan bloc, Sarwa Muhammad Rashid, stressed on Saturday the need to expedite sending the draft oil and gas law, while confirming that the law is on the table of government and parliamentary discussions.
Zanganeh said in an interview with the Maalouma Agency, “The discussions of the region and the center during the last period focused on finding a road map through legislation of the oil and gas law, as it ends the outstanding crisis between the federal government and the Kurdistan region.”
She added that “passing the oil and gas law will eliminate all outstanding problems between the federal government and the Kurdistan region,” noting that “after several months passed during the stages of writing the oil and gas law, it was not sent to Parliament for discussion.”
She continued, “Parliament is waiting for the legislation of this law until it finishes the issue of how to export oil or invest gas in the coming stages.”
The former member of the Parliamentary Oil and Energy Committee, Ghaleb Muhammad, confirmed to Al-Maalouma that passing the oil and gas law requires consensus among the large blocs that have a majority within the House of Representatives.

almaalomah.me

"RV UPDATE" BY MILITIAMAN, 21 JAN

 Militia Man  

Sudani...I think he's right when he says 2024 is going to be a year of achievement...We haven't seen the spending of the '23 budget yet nor have we se a pumping of that oil just yet and nor have we seen a full-blown assession to the World Trade Organization yet.  Why is that?  Because we probably have to wait to hear what they have to say when it comes to a Real Effective Exchange Rate.  Hopefully that's what we'll see...in a very very short period of time.

  Article:  "The International Monetary Fund welcomes Iraq's accession to a program that supports economic reforms"

  Quote:  "Thursday...the International Monetary Fund welcomed Iraq’s accession to a non-financing program to support economic reforms"  After decades of involvement...the specificity of many things are likely to be known by the IMF,

exchange rate regimes be sure.  For Iraq to be moving forward with all reforms ...in that there is no financing needed should  be eye opening for everyone. How does non-financing work with the IQD at 1,310 IQD to 1 USD for to pay for projects and commodities? 

It has not ever while with an IQD exchange rate of $.0006 or even $.0007 to the dollar. So why would it be any different now? It clearly wouldn't.

The fun part is we are watching history in the making...Saudi Arabia strongly supports  Iraq's ascension to the World Trade Organization...They've basically said Iraq has completed everything needed to be done.   Everything is just shy of announcing they have WTO ascension.  

https://dinarevaluation.blogspot.com/2024/01/we-are-watching-history-in-making-by.html

Iraq,s Duel Dinar Rates Revealed Big Saturday Surprise 🔥 Iraqi Dinar RV

Politician: Al-Sudani’s statements are messages to Washington to end the presence of its forces in Iraq, 20 JAN

Politician: Al-Sudani’s statements are messages to Washington to end the presence of its forces in Iraq

Information / Baghdad..
Political observer Sabah Al-Ugaili confirmed, on Saturday, that Prime Minister Muhammad Shiaa Al-Sudani’s statements in “Davos” represent direct messages to the American administration to implement the strategic framework agreement, as it includes ending their military presence in Iraq.

Al-Ugaili said in a statement to Al-Maalouma, “The Sudanese government has the seriousness and real desire to end the presence of the international coalition forces led by the United States of America, as they have become a factor influencing national sovereignty.”

He added, “Al-Sudani’s statements during the Davos conference and what preceded it confirm his government’s serious desire that the presence of coalition forces, including American forces, is important. However, this desire needs internal support by the political forces and parliament.”

He pointed out that “the Sudanese affirmation of this desire represents direct messages to the Americans to implement the strategic framework agreement, as it includes ending their military presence in the event that the ISIS threat disappears.”

He pointed out that “the support of the political forces for the government’s approach, as well as the issuance of a new resolution supporting the previous decision of the House of Representatives regarding ending the mission of the presence of international coalition forces, will give the Sudanese a moral boost.”

Al-Ugaili continued, “If the work of the bilateral committee is activated, the government must impose a specific time and period for negotiations with the Americans, as they are the party leading the international coalition, so that there is no procrastination or prolongation of time.”

Prime Minister Muhammad Shiaa Al-Sudani confirmed in statements during the Davos conference that Iraq no longer needs the presence of international coalition forces.

almaalomah.me

"HYPOTHETICAL CONVERSATION WITH THE CBI" BY FRANK26, 20 JAN

  Frank26 

 [Hypothetical conversation with the CBI] 

 The next phase is to put our currency [dinar] in a basket.  

We have control of it do we not?  It's all the way down to 1310/1320 so close to 1200 or 1000.  

We have control of the auctions have we not?  Yes.  

We have control over our reserves have we not?  Yes.  You have it all...

These other currencies don't mind going in a basket with you?   No.  They know by going into that basket supply and demand will be called upon for everyone in the basket...Iraq is the prettiest girl in town.  

 Question:   "Do you think Iraq will depose current currency once revalued?"  Once they revalue of course they're going to get rid of the currency...the 3-zero notes.  They will introduce the lower denominations and the fils to the citizens.  But it needs a different exchange rate that would match it to give it value.  The exchange rate right now is so low there is no value...

 IMO those of you that deal in commodities...you saw 1.68...on the 15th.  Today you saw 3.04 on the commodity trades with the Iraqi dinar and you saw it being done in Iraqi dinars, no other foreign currency ...based on what we are seeing, they are agreeing to the future rate of the Iraqi dinar in commodities in dinars.  These are contracts...to buy or sell a specific quantity of a physical commodity at a specific price on a particular date.  Basically what you saw...IMO are Futures.

Dinar is International!💣In-Country Rate Released?🤔Iraq Dinar RV Updates ...

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