FIREFLY: On the economic news an economic specialist is saying Iraq needs to use a basket of currencies to add value to the dinar against the dollar.
FRANK: Sudani sends out another expert in the financial field that you know and trust...Exactly what we've been telling you. This is the next phase IOO...This is the most powerful part of the monetary reform education to you as an Iraqi citizen...The basket of currencies is required in order to add value to the Iraqi dinar.
They will never talk to you about something that needs to be done. They will talk to you about it after it is done. That is what is called the float and that is what is going to take you back to your RI. Your currency rate has to be reinstated back to $3.22 but that's the international side of Iraq...
The goal of the CBI is to reach the Real Effective Exchange Rate. In doing so it adds value to you even thought it's 1 to 1 in country...It will stay at 1 to 1 to the American dollar in Iraq but you will finally have your purchasing power that you have long waited for.
A new reading of ending the foreign presence.. Will the Sudanese government go through with it?
Journalist Halim Salman suggested on Saturday that the government of Muhammad Shiaa Al-Sudani would proceed with pushing the House of Representatives to issue a law to gradually end foreign presence in the country.
Salman said in a statement “Issuing the law (ending the foreign presence) will oblige all parties not to deviate from the circle of obedience to the Commander-in-Chief of the Armed Forces, and the Iraqi government bears full responsibility for protecting and defending all citizens at home and abroad, and does not allow any An international or local body may exercise its arbitrariness and tyranny against Iraqi sovereignty.”
He pointed out that “the Americans, according to the statements of their officials, are serious this time about responding, in the language of killing, to the parties that target their bases or headquarters in Iraq or Syria.
Warnings have been sent through the media and the ambassador about (responding to the factions that are involved in attacking the American presence in the region).”
He continued, "The Iraqi government, despite its condemnation of the recent American strikes that targeted one of the leaders of the Mobilization Forces, and the Prime Minister's call to gradually end the foreign presence in Iraq, is embarrassed by the involvement of some Iraqis in drone strikes on the headquarters of the American presence."
Salman expected that “the Sudanese government will continue to push the House of Representatives to gradually issue a law to end foreign presence. This approach, if serious, will oblige all parties to adhere to and not violate and deviate from the circle of obedience to the Commander-in-Chief of the Armed Forces.” link
Al-Sudani, Central Bank of Iraq, the whole country is going to bring confidence to the International financial system and they also stated the largest banks in the world...who's there [in Davos] is involved, JP Morgan Chase and all the bigger banks.
.0006 or .0007 as far as exchange rates concerned, when they drop the 3 zeros off of that it makes a big difference. Do a little math. Get a calculator and see what the difference is when you have .0007 to the dollar and you drop those 3 zeros and see what the calculation is. You can see there's a big difference...It's phenomenal wonderful stuff.
2024 and “Curse the corrupt”... Investigations into the “outrageous wealth” of 9 Iraqi officials and “important” decisions within weeks
Today, Sunday (January 21, 2024), a parliamentary source revealed the existence of unannounced investigations into the wealth of nine Iraqi officials in several governorates.
The source said in an interview with "Baghdad Today", "A lot of evidence was presented by representatives and figures about the file of the extreme wealth of some officials in Baghdad and the provinces, amid questions to know the source of that money, especially since they are government employees."
The source, who preferred not to reveal his name, added, “Indeed, there are investigations currently underway into the file of 9 officials,” pointing out that “extreme wealth is a real source of concern that has prompted the regulatory authorities to open important files in the past months in order to clarify the sources of that money, which some have tried to do.” It involves purchasing real estate and land.
He pointed out that "2024 will witness a qualitative shift in the fight against corruption, especially in the suspicious wealth of some," expecting "important decisions to be issued in the coming weeks."
The head of the Federal Integrity Commission, Haider Hanoun, called on Saturday (January 20, 2024) to support the regulatory system and cooperate with it in its endeavor to eradicate the scourge of corruption and prosecute its perpetrators.
A statement by the Commission, received by “Baghdad Today”, stated that “Hanoun stressed, in his speech at the First Conference of Legal and Political Sciences, which was held by the College of Law and Political Sciences - Iraqi University, entitled (The Relationship between Democracy and Regimes), the necessity of preserving the foundations of the democratic system in Iraq and protecting its institutions.” Constitutionalism is one of the dangers facing it, the most dangerous of which is corruption,” pointing out that “the Constitution, which is the supreme legal document, went to establish independent federal bodies, the most important of which is the Federal Integrity Commission, in accordance with Article (102) thereof, with the aim of protecting the gains of that democratic system.”
While the Deputy President of the Karkh Court of Appeal and the competent judge of the Supreme Anti-Corruption Committee, Judge Zia Jaafar, explained, on Monday (January 15, 2024), the nature of the decisions and judicial procedures taken in the past period to fight corruption, while pointing to the strategy to combat this scourge link
Baghdad (IraqiNews.com) – "The Iraqi Prime Minister, Mohammed Shia Al-Sudani, met on Thursday with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), who welcomed Baghdad’s accession to a non-financing program to support economic reform in Iraq."
The IMF is expected to move forward with a non-financing program in Iraq beginning next month.
An unfunded debt is a short-term Financial obligation that comes due within a year or less.
It is a short-term contract whereby two entities agree on a non-performance-based payment, and the monies received are on a limited basis.
In other words, Iraq is planning on using a limited support system from the IMF to push their Economic Reforms out in February of 2024.