"THEY TOLD EDDIE ON THE 29TH OF JANUARY, A CAMPAIGN WAS BEING LAUNCHED TO EDUCATE THE IRAQI CITIZENS ON THEIR MONETARY REFORM... THIS IS ANOTHER EXAMPLE OF IT", by FRANK26, 5 FEB

 Frank26:  "THEY TOLD EDDIE ON THE 29TH OF JANUARY, A CAMPAIGN WAS BEING LAUNCHED TO EDUCATE THE IRAQI CITIZENS ON THEIR MONETARY REFORM... THIS IS ANOTHER EXAMPLE OF IT".................F26

Empowering the Iraqi economy: growth through strategic investments and banking excellence

1/30/2024  Baghdad

 Cihan University - Dohuk held the "Third Annual Economic Forum", in the presence of Zirvan Abdul Mohsen Asaad, President of the University, and a number of experts, economists, bank managers and academic figures.

 The forum was held in the Research Center hall, under the slogan “Empowering the Iraqi Economy: Growth through Strategic Investments and Banking Excellence.”

The first session began at eleven o'clock in the afternoon and lasted for two hours, and was moderated by Ahmed Al-Saffar, an academic and former member of the Iraqi parliament.

 The first speaker was Abdul Hussein Al-Anbaki, head of the economic advisory office of the Iraqi Prime Minister, who began his speech about the challenges facing development in Iraq.

Al-Anbaki stressed "the necessity of addressing structural imbalances in the economy, pointing out the failure to achieve the goals associated with Article (25), which aims to reform the economy by diversifying sources and supporting the private sector."

 Al-Anbaki referred to the history of the Reconstruction Council and the impact of changes in its allocations on its effectiveness, proposing the establishment of an independent Popular Development Fund to finance government and private projects with soft loans.

He concluded with recommendations for administrative reform before economic reform, reconsidering the management of oil revenues, adjusting the exchange rate of the Iraqi dinar, and canceling the auction. currency, and the legislation of the public-private partnership law.”

The second speaker was Haval Siddiq Ismail, representative of the Minister of Investment in the Kurdistan Region, and Director General of the Investment Authority in Dohuk, who “presented a comprehensive analysis of the investment situation in the region. He provided details about investment projects and successful sectors in attracting investment, with a focus on challenges, opportunities, and policies.”

The government encourages investors. Dr. Haval also highlighted the regulatory and bureaucratic obstacles, and provided a realistic assessment of the difficulties and potential opportunities. Finally, he provided details about the potential opportunities and government policies followed by the Kurdistan Regional Government to facilitate a prosperous investment environment.

The second session started at one o'clock in the afternoon and lasted for two hours, and was moderated by Nawar Al-Saadi, Professor of International Economics and Director of the Research Center at Cihan University.

The second session began with a speech by Muhammad Al-Najjar, Advisor to the Iraqi Prime Minister for Investment, and Executive Director of the Iraq Fund for Development.

In his speech, Al-Najjar shed light on the “Iraq Fund for Development, which was newly established as an independent body reporting to the Prime Minister. Al-Najjar spoke about the Fund’s role in promoting change and diversifying the Iraqi economy. The Fund aims to attract local and international investors to participate in the implementation of various projects.”

One prominent example discussed by Al-Najjar is “the ongoing project to build 1,950 schools across Iraq. These projects will be delivered to private sector investors and the Iraqi investor exclusively, with guarantees such as the return of capital after five years. This approach does not encourage local investment.” "Not only does it ensure the effective participation of the private sector in the reconstruction process in Iraq."

The fund's strategy focuses on "different stages of investors, starting from local investors to foreign investors. It emphasizes the involvement of local stakeholders to enhance local ownership in development projects, with an emphasis on handing over projects to the private sector to guarantee a return on capital after a certain period."

Regarding the second speaker, Ahmed Al-Tabqajli, Chief Strategist at the Iraq Fund at the Asian Development Fund,

Al-Tabjali talked about “strategies for attracting investments to the Iraqi Stock Exchange. The market was characterized by strong performance, as the AFC Fund rose by 110.4% in 2023, making it one of the best funds in the world.” (ONLY BECAUSE OF THE MONETARY REFORM & BANKING RESTRUCTURE OF IRAQ -F26)

Al-Tabjali explained this performance “by the development of new procedures by the Central Bank of Iraq, which led to accelerating reliance on banking services and promoting growth in the non-oil economy. The market was also affected by the relative stability of the country, which created a more stable economic environment and attracted the interest of international investors.”

Al-Tabqajli also pointed to the market's role in supporting the development of an efficient economy by providing capital to companies, and believes that the development of the Iraqi Stock Exchange contributes to enhancing the gross domestic product and economic stability in the region.

Then, many interactive questions, discussions, and inputs were posed by the attendees, and in conclusion, the forum came out with a set of proposals and recommendations that will be submitted to the relevant authorities.  LINK

Breaking News💥Iraqi Dinar High Alert Now Globally Today 2024 / Iraq Curr...

In an emergency meeting.. State administration condemns US bombing and considers it a serious attack, 5 FEB

 In an emergency meeting.. State administration condemns US bombing and considers it a serious attack

Shafaq News / The State Administration Coalition held an emergency meeting on Sunday, at the invitation of Prime Minister Mohammed Shia Al-Sudani, and in the presence of President Abdul Latif Rashid, to follow up on the developments of “serious events” in the country, according to a statement issued by the coalition and reported to Shafaq News.

In its statement, the coalition expressed its “strong condemnation of the American aggression that targeted the sites of the Popular Mobilization on the night of February 2/3, and resulted in the martyrdom and injury of dozens of affiliates and civilians, which is a serious attack on an official Iraqi security institution, which represents a violation of Iraq’s sovereignty and security, and a violation of international norms and laws governing relations between countries.”

The coalition renewed its authorization to the government and its support for the dialogue it is conducting with the international coalition to end this presence with understanding and dialogue, in order to ensure the building of bilateral relations between Iraq and the countries of the international coalition, which was confirmed in the recent agreement between Iraq and the United States.

The coalition expressed its rejection of all forms of attacks against Iraqi military bases, as well as the targeting of military advisers, from the countries of the international coalition who work within specific advisory and training tasks.

The coalition stressed the support of the government in not allowing any party to drag Iraq into the arena of conflict in the region, and the supreme national interest of Iraq must be placed above any other interest, and that the responsibility of everyone is to ensure the maintenance of security and stability in the country, which was achieved through great sacrifices made by our people and our armed forces of all kinds.

Early on Saturday morning, the U.S. Army Central Command reported that its forces had launched airstrikes in Iraq and Syria targeting positions of the Islamic Revolutionary Guard Corps’s Quds Force and militia groups.

U.S. military forces hit more than 85 targets with several aircraft housing long-range bombers launched from the United States, the command said in a statement.

According to the statement, the airstrikes used more than 125 precision-guided munitions, noting that the targets included command and control headquarters, intelligence centers, missile, draves, ammunition and logistics supplies belonging to the militias and the Revolutionary Guards.

US President Joe Biden had directed military forces to strike targets in Iraq and Syria used by the Iranian Revolutionary Guards and their affiliated militias to attack US forces, he said, stressing that although the United States does not seek an escalation in the Middle East, it will inevitably respond to those who harm Americans.

White House National Security Council spokesman John Kirby confirmed Saturday that the Iraqi government had already been informed before launching the airstrikes.

In turn, the spokesman for the Iraqi government on behalf of Al-Awadi denied that there was prior coordination between Baghdad and Washington on the strikes by US forces targeting the positions of the security forces in the western province of Anbar, confirming that 16 dead and 25 wounded as a result of that “aggression.”

On Saturday, the Iraqi Foreign Ministry summoned the Chargé d’affaires a.i. at the U.S. Embassy in Baghdad David Berker in protest against the bombing.

https://www.shafaq.com/ar/سیاسة/في-اجتماع-طار-دارة-الدولة-يدين-القصف-ال-مريكي-ويعد-ه-اعتدا-خطيرا

"BECAUSE OF A NEW EXCHANGE RATE!!!" BY FRANK26, 5 FEB

 Frank26:  "BECAUSE OF A NEW EXCHANGE RATE!!!"...........F26

 Planning: The current year will witness an improvement in average per capita income

1/30/2024

Baghdad: The mainstay of the emirate

. The Ministry of Planning confirmed that the average per capita income last year amounted to 7-8 million dinars, and that there is a discrepancy in income rates for many segments of society, noting that oil prices contributed to the rise in the average per capita income, which is calculated after dividing the gross product.

On the population, while it is expected that the average per capita income for the current year 2024 will witness a noticeable improvement, especially after the government’s great direction in supporting the social protection program, the ration card, and providing services to citizens.

In a way that confirms an improvement in the national economy, the Ministry of Planning stated that the actions of the government and the Central Bank of Iraq contributed to the decline and stability of inflation indicators and a decline in their rates during the last two years, as the inflation rate was (6 percent) in the year 2021, and decreased in the year 2022 to ( 5 percent) and then in the year 2023 the inflation rate was 4.4, meaning less than 4 and a half percent. ”

The official spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, said that the average per capita income is extracted and calculated by dividing the volume of revenues or resources that the country obtains by the number of population. Thus, we are talking about a rate or average annual per capita income ranging between 7 to 8 million dinars per capita during the past year 2023, pointing out that this improvement in the level of per capita income came as a result of improved oil sales and increased prices, and thus the country achieved good financial revenues. Al-
Hindawi pointed out that The per capita income, which amounts to 7 to 8 million dinars, does not include the entire population, as the individual does not receive the same income or equally. Rather, there is certainly a discrepancy between one group and another and between one segment and another, according to many factors, and that there are segments whose average annual income may be 3 million or five million dinars.

There are segments whose annual income is 10 million dinars, or perhaps their annual income is 20 million dinars annually, indicating that the discrepancy in these numbers comes as a result of the nature of the work and the academic achievement certificate of the individual, who may also work in more than one job, as a result of which his annual income increases or decreases according to these factors, indicating Until the improvement in income rates also depends on the level of services that the individual receives, including water, electricity, sanitation, transportation methods, and other requirements.   LINK

More bank involved Iqd oraq#RV BY NADER FROM MID EAST

"NO IT'S MUCH MORE THAN THAT!!! THAT'S WHY YOU HAVE A NEW EXCHANGE RATE COMING" BY FRANK26, 4 FEB

 Frank26:  "NO IT'S MUCH MORE THAN THAT!!! THAT'S WHY YOU HAVE A NEW EXCHANGE RATE COMING".........F26

 It may rise to 206 trillion dinars.. The Finance Committee reveals the latest developments in the 2024 budget

2/1/2024  Baghdad

Today, Thursday (February 1, 2024), the Parliamentary Finance Committee revealed the latest developments in the financial budget for the year 2024, while indicating that it will rise to 206 trillion dinars instead of 199 trillion dinars.

Committee member Mustafa Al-Karaawi told the official agency, “Article 77/Second of the Tripartite Federal Budget Law for the years 2023, 2024, and 2025 stipulates that the House of Representatives will be provided with updated tables for the 2024 budget in order to discuss the file of increase or decrease in the file of financial allocations according to expected revenues and according to the price of oil.” Installer". 

He added, "The schedules are still being prepared in the Council of Ministers in preparation for approval, and the House of Representatives will begin discussing the budget after it arrives from the government. We believe that transmission must be accelerated because the delay may restrict the disbursement of operational and investment budgets in the coming days," noting, "Disbursement is now limited to salaries." employees and their benefits directly.”

Al-Karaawi stressed that “the issue of updating the tables depends on the oil market and the quantities exported, on the basis of which the expected revenues will be calculated, and it is based on the size of expenditures and the percentage of the deficit, “pointing out that “there is a point of view that occurred in the 2023 budget according to the quantities that were spent and how to deal with it.” The deficit and revenues achieved, and it is assumed that there will be a growth in expenditures given that there is a growth in the operating budget, and there are contracts concluded in 2023 that have not been disbursed yet and must be added in the next budget “

Regarding the appointments, he explained that they “may include contracts, firsts, holders of advanced degrees, and governorate contracts for the 150,000 degrees that have not been implemented yet and which have been transferred to the 2024 budget.”

He pointed out that "the committee developed a proactive plan by conducting field visits to the ministries that are in direct contact with the citizen, starting with the Ministry of Health and then the Ministry of Construction and Housing to see the percentage of budget completion for each ministry at the operational and investment levels, to know the efficiency of spending.” Actual, given that performance evaluation depends on the extent to which the expected percentage matches the actual achievement.”

A member of Parliamentary Finance stated, “The committee found that there are many items that have not been funded in the Ministry of Construction and Housing, for which more than two trillion and 200 million dinars were supposed to be allocated, but about 60 percent of them are funded. This means that the government has committed itself.” With a budget greater than the possibility of implementing it.”

Al-Karaawi called on the government to “avoid this in the 2024 budget to complete the projects, infrastructure and development projects it has started,” pointing out that “there is relative progress on the issue of performance, but there needs to be a well -thought-out plan to complete what has been started so that it is clear to the public.” "For real."

He stated, “The actual outcome of the 2023 budget is that the total revenues were 134 trillion, excluding the region’s oil imports, at an oil price of $70 per barrel,” expecting that “the same price will be repeated in the 2024 budget, and therefore the revenue estimates may be the same, given that the prices are "The world is approaching last year's numbers."

He pointed out that "the total volume of expenditures achieved is 154 trillion after adding 7 trillion dinars as allocations to the budget, so its total amount will rise from 199 trillion to 206 trillion dinars."

He stressed, “According to an article in the budget, the Council of Ministers has the right to add amounts to the 2024 budget to cover the deficit or needs in the areas of electricity, trade, and others.”   LINK

"RV UPDATE" BY MNT GOAT, 5 FEB

   Mnt Goat 

ONE OF THE REASONS WHY THE REVALUATION CONTINUES TO BE DELAYED

THE CENTRAL BANK EXPECTS DOLLAR PRICES TO DECLINE IN THE MIDDLE OF THIS YEAR

Former official in the Central Bank of Iraq, Faleh Daoud, said that the exchange rate of the US dollar will fall to less than 1,500 Iraqi dinars by next June.

(What? First they told us it would fall by December, then by the new year and now June? It is obvious the CBI can not control the rate of the parallel market unless it took drastic measures and we know what those measures are. So why are they afraid to do it? Are they being blackmailed by the corrupt?)

Faleh Daoud said in a statement followed by Mawazine News, “The dinar’s exchange rate depends on the market and demand, because the currency market plays a role in its price, not the central bank,” noting that “the recent actions of the US Treasury Department and the Federal Reserve regarding transferring the dollar to Iraq caused… In the decline in the value of the currency, which is the reason for the instability of the dinar against the dollar.”

He explained, “Relying on the electronic platform had a positive side effect on the exchange rate against the dollar and created quasi-stability in the dinar’s exchange rate, and it may rise slightly by next June.”

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

https://dinarevaluation.blogspot.com/2024/02/one-of-reasons-why-revaluation.html

  Article:   "THE FINANCE COMMITTEE RESPONDS TO THE US SANCTIONS: LET US SELL OIL IN

CURRENCIES OTHER THAN THE DOLLAR"  Quote:  "Imposing sanctions on Iraqi banks would undermine and obstruct the steps taken by the Central Bank to adjust the stability of the dollar exchange rate and reduce the selling gap between the official and parallel rates."  ...the TRUTH finally comes out. This is what is causing the inability of the CBI to take the necessary steps to adjust the stability of the dollar exchange rate?  ...if they the CBI did this diversification it would adjust the parallel market rate very quickly and then…..

Hang on there is also some good news….

The Central Bank of Iraq decided just recently to restore the mechanism for financing Iraq’s foreign trade, starting next March. This is all part of slowly phasing out the electronic platform as they said they would do as 2024 rolls on. The Central Bank said in a letter addressed to the banks, which Al-Iqtisad News reviewed, that for the purpose of organizing financing operations for requests to enhance external balances, it was decided to implement the new requirements and mechanisms starting from March 1, 2024.

He added that banks wishing to enhance their balance with correspondent banks in all currencies should appoint an external auditor for the purposes of reviewing transfers in advance of the process of sending transfers. Banks wishing to enhance the balance must provide us with information about the names of the companies they wish to contract with within a maximum period of February 29, 2024. So, basically what the CBI wants is to know where the money is going and for the banks to certify it, by auditing.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

https://dinarevaluation.blogspot.com/2024/02/status-of-rv-by-mnt-goat-1-feb.html