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).
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.
Prime Minister Muhammad Shia al-Sudani announced today, Tuesday, that Baghdad had received an official letter from the American embassy approving its request regarding scheduling the end of the missions of the international coalition forces in Iraq.
Al-Sudani said in a press conference following a regular session of the Council of Ministers: “We received an official letter from the American embassy approving the outcomes of the meeting held in Washington in implementing the agreement regarding scheduling the end of the tasks of the international coalition.”
Regarding his recent visit to the Netherlands, the Prime Minister stressed that it “came within the framework of developing bilateral relations and within the context of building companies,” adding, “We have renewed and are renewing our position that rejects Iraq being an arena for conflict or the exchange of messages, and Iraq’s interest is the most important.”
Regarding internal affairs, he said, “The coming months will witness the opening of most of the projects to relieve traffic congestion in Baghdad within the first package, which is a challenge for the government, and the second package of these projects will be approved after arranging their financial situation.”
The problem for people in the United States is no bank in the US will do any transactions using the Iraqi dinar. Until this changes we have to find other ways to pull our profit out of Iraq. We can do this. I found one way and will discuss it in a an upcoming [post]...
There is an organized effort in Iraq to never revalue or increase the value of the currency abasing the US dollar or to provide profits for people in the west...Between the different factions within Iraq, revaluing their currency, even when they can afford it, may not be on their agenda...
Iraq is getting closer to a currency reset...Iraq's rail plans have investors worldwide watching carefully...The rail connection in Iraq from the Gulf to Europe will change Iraq's economy. This same method of increasing the GDP was recently used by Mexico when they built a connecting rail system...Mexico's exchange rate increased against the US dollar and now Americans are spending more money to live in Mexico...This is one of the major paths that can lead to a higher GDP and a higher value in the currency. The project is set to start in early 2025.
The International Monetary Fund has consistently recommended Iraq develop additional streams of income outside of the oil industry. Iraq holds a significant amount of the world's history within its borders...What is needed is security and safety for travelers. Once safety issues are address and the Euphrates and Tigris Rivers are flowing again there will be substantial annual revenue to help boost Iraq's GDP.
" Iraq's central bank revokes Iran's Bank Melli operating license" This article tells us the US is serious about not allowing Iran to have access to US dollars. It also tells us Iraq is serious about aligning with the US Treasury Department to maintain access to over one hundred billion US dollar of its money in the Federal Reserve.
Vietnam is making major financial news. Vietnam factory activity returns to growth status after the pandemic, tourist arrivals increased by 73.6% in January and retail sales are still growing for the 26th straight month. The inflation rate is at a five month low of 3.7%. Overall Vietnam has green lights on all growth patterns...Vietnam knows precisely what to do to bring the value of its currency back into the line of profit...
Shafaq News/ Federal Prime Minister Muhammad Shiaa Al-Sudani confirmed, on Tuesday, the continuity of funding the salaries of Kurdistan Region employees, while indicating that the budget’s financial deficit reached 60 trillion dinars.
Al-Sudani said in response to a question from a Shafaq News Agency correspondent, during a press conference held this evening, that “the budget for three years included the cost of oil production according to the national price,” pointing out that “the cost of oil companies to extract oil in the Kurdistan Region is more than the national price.” “And the oil companies in the region have stopped producing oil.”
He explained that “financing the salaries of the Kurdistan Region continues, and the last one was in February in accordance with the budget law.”
He pointed out that “the general budget law obliges the government to send the tables to the House of Representatives,” revealing that “the financial deficit reached 60 trillion dinars in the 2023 budget law.”
At the end of last month, the Kurdistan Region Council of Ministers called on the Federal Council of Ministers to approve the amendment to the budget law in the “agreed upon form” and send it to the House of Representatives for approval. It also urged the Federal Ministry of Finance to implement the recent decision of the Federal Council of Ministers as soon as possible.
Prime Minister Muhammad Shiaa Al-Sudani in a press conference: ▫️ We took up to 40 decisions during four Cabinet sessions regarding various service projects that have been lagging for years ▫️ In light of these decisions, most of the reasons due to which the projects were stopped have been resolved ▫️ A priority for services is to complete the lagging projects ▫️ Approval of a system Electronic payment is one of the most important reform steps of this government . ▫️ Our visit to the Netherlands comes within the framework of the transformation of Iraq’s relations from the international coalition relationship to bilateral relations. ▫️ The European Union is one of the important destinations for Iraq in establishing relations. ▫️ Our government has begun signing a bilateral strategic partnership with the European Union countries . ▫️ We agreed. With Italy to solve a problem that was hindering any economic cooperation between the two countries, which is a problem from the year 1985 and which relates to one of the previous decades ▫️The European Union countries have many qualifications in the economic aspect ▫️We sensed in the Netherlands a serious desire to expand bilateral relations ▫️We focused at the Munich conference on the transition file In relation to the international coalition and bilateral relations
