Remarkable progress in two years. Iraq moves from recovery to development (details), 20 FEB

  Remarkable progress in two years. Iraq moves from recovery to development (details)

Baghdad Today - Baghdad

Today, Tuesday (February 20, 2024), the Parliamentary Economy and Industry Committee commented on Iraq's transition from the recovery stage to the development stage during the current and future period.

Ruqaya al-Nouri, a member of the committee, told Baghdad Today that "Iraq over the past years was going through a recovery phase due to the difficult security conditions it went through, especially during the period of occupation of the terrorist organization ISIS and after the liberation operations, and the advancement of the country's reality needed efforts and a long time."

Al-Nouri added that "Iraq is currently past the recovery stage and has entered the stage of development at various levels, especially with regard to the service and urban aspect and many others," stressing that "there is great government interest in developing all banking and service sectors, and Iraq during the next two years will witness a remarkable and significant development in various aspects."

Since taking office in October 2022, Iraqi Prime Minister Mohammed Shia al-Sudani has achieved a record number of policy achievements. The "service government," which he heads, has completed a range of projects including the construction of roads, highways and hospitals, the signing of multibillion-dollar agreements to ensure energy independence, the completion of a deal with Tehran to swap gas for oil So that Iraqis can withstand the sweltering heat in summer when temperatures reach 50 degrees Celsius, and work with the government to pass the federal budget for three years.

"RV UPDATE" BY MNT GOAT, 20 FEB

 Mnt Goat 

 I will tell everyone who has been in this speculative investment for a long time, this couldn’t be a worst time to sell your dinar. I compare it to a severe storm. You must have the guts to weather the storm... when the storm finally does really end, it’s over and done and then you move on to a better life knowing you weathered the storm and received the blessings that come afterwards. The rewards are great.

Question:   We all have like 25000 dinar notes after the 2 extra zeros are gone and we can go to FOREX will we have any problems cashing them in at the new FOREX rate after the month is over? 

 Mnt Goat:  So, there is no time period set for exchanging our dinars outside of Iraq. However, having said this, we must refer back to Dr Shabibi’s media news interview years ago when he said in about 10 years after the reinstatement the CBI would null and void these 3 zero (not 2 zero) notes that we hold... 

Jon Dowling & SG Anon Discuss The End Of The USD & The Politics Behind T...

Iraq and Egypt discuss ways to strengthen relations between the two countries in the oil and energy sector, 20 FEB

  Iraq and Egypt discuss ways to strengthen relations between the two countries in the oil and energy sector

Baghdad / Nina / Deputy Prime Minister for Energy Affairs and Minister of Oil Hayyan Abdul Ghani discussed with the Minister of Petroleum and Mineral Resources of the Arab Republic of Egypt Tariq Al-Mulla ways to strengthen relations between the two brotherly countries in the oil and energy sector.

According to a statement by the Ministry of Oil, Abdel Ghani met the Egyptian minister during an official visit to participate in the work of the Egypt International Energy Conference and Exhibition.

The Egyptian minister stressed the importance of the existing cooperation between the two brotherly countries and Egypt's keenness to strengthen this cooperation across various fields, especially oil, energy and petrochemical industries, pointing to the existing partnership and cooperation with the Egyptian General Petroleum Corporation and Enppi and Petrojet, stressing the importance of expanding the areas of cooperation to serve the common interests of the two countries.

For his part, Deputy Prime Minister for Energy Affairs and Minister of Oil affirmed Iraq's support for bilateral cooperation with Egypt and its aspiration to expand the volume of participation of Egyptian companies in the investment projects announced by the ministry, expressing his interest in participating in the Egypt International Energy Conference and Exhibition as an important economic event.

Deputy Prime Minister for Energy Affairs and Minister of Oil Hayyan Abdel Ghani arrived in Cairo to participate in the work of the Egypt International Energy Conference and Exhibition "EGYPES2024".

"JUST BE PATIENT" BY MNT GOAT, 20 FEB

ABOUT THIS NEWSLETTER:

1 John 3:17

If anyone has material possessions and sees a brother or sister in need but has no pity on them, how can the love of God be in that person?

The saga about the Iraqi dinar RV continues. It is what you don’t know that can cause you some stress and anxiety. Even I sometimes want to rush the RV process and I have to step back and relax. I have to ask myself if the CBI is following the 2011 Dr Shabibi and IMF plan. As long as they are following it, I am very happy and so should you. As we all know Iraq is NOT working on our timetable as their newly formed government is sometimes very slow to act (remember Speedy Gonzales).

So, just today another article came out from the CBI telling us about yet more steps in the RV/Reinstatement process are about to be implemented. The news could not get any better, aside from having the reinstatement itself. 

I want to fully explain it in detail to you and why I feel excited today and what we should look forward to soon.

I wanted to continue with the list below and add each month if anything changes. So, in February as part of the Banking Reforms we find we have added a couple new items. These new developments along with the others listed, push us even closer to the RV/Reinstatement. So today we chalk up yet more major events are about to occur.  

• We know they are completely out of Chapter VII sanctions since December 2022, and so why not treat them as such?

• We know they want the Iraq funds (nearly USD 115+ billion) released from the NY banks and put in their custody to do what they want with it. They are tired of being bullied by the U.S. with their own money.

• 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 with Iran, China, Turkey, Kuwait, Emirates, and many EU countries 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. Get it? 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

• The Central Bank of Iraq is heading to cancel the electronic platform and the currency auction soon.

• Banks will be responsible for financing foreign trade directly through the dollars they own and not from the CBI reserves.

• Banks will be fully responsible for auditing invoices and transfers, which is the practice globally.

Please just be patient! The reinstatement is coming and I firmly believe from what we now already know and are about to witness is a major part of the Banking Reforms that everything else was geared up to support over the past 10 years. Iraq is about to get out of the sanctioned mindset altogether and return to common global banking practices of how they will be doing business with the rest of the world going forward.

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

How will foreign trade be financed after the cancellation of the electronic platform? The Iraqi Central Bank answers,20 feb

 How will foreign trade be financed after the cancellation of the electronic platform? The Iraqi Central Bank answers

Today, Tuesday, the Central Bank of Iraq revealed the mechanism for financing foreign trade after canceling the electronic platform and currency auction that the Central Bank intends to implement soon.

The Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said in an interview followed by Al-Iqtisad News, “The Central Bank of Iraq is heading to cancel the electronic platform and the currency auction soon.”

He explained that "the banks will be responsible for financing foreign trade directly through the dollars they own, and they will be fully responsible for auditing invoices and transfers, which is the practice globally."

With this step, the Central Bank of Iraq intends to “withdraw itself” from the process of financing foreign trade and make the process limited to banks inside Iraq.

Among the American correspondent banks, which will be responsible for financing the requests of these banks among themselves after reviewing the private documents, and the Central Bank of Iraq not entering as a party in this case  link

"RV UPDATE" BY MNT GOAT, 20 FEB

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