Friday, February 23, 2024
PM calls for ending oil derivatives imports as Iraq eyes self-sufficiency, 24 FEB
PM calls for ending oil derivatives imports as Iraq eyes self-sufficiency
Shafaq News/ Prime Minister Mohammed Shia al-Sudani on Friday criticized Iraq's long-standing practice of importing oil derivatives despite the country's huge daily crude oil production.
He pledged to achieve self-sufficiency in oil derivatives by mid-next year.
Speaking at a ceremony to celebrate the reopening of the Baiji North Refinery, al-Sudani denounced the decades-old policy of importing oil derivatives given Iraq's potential to meet its own needs.
"We have the capability to secure our own oil derivatives," al-Sudani said. "We are nearing the goal of self-sufficiency, with a target set for mid-next year. Our nation's heroes may even surpass this timeline."
Al-Sudani said that redirecting funds from oil derivative imports would bolster other vital sectors and reaffirmed the government's commitment to prioritizing the oil and gas industry, with a focus on efficient resource utilization and maximizing income.
Work at the Baiji refinery, Iraq's largest with a processing capacity of 310,000 barrels per day, was halted after it fell under ISIS control in May 2014.
Following the liberation of the Baiji district in 2015, many equipment were found to be lost from the refinery with fingers pointing toward Iraqi armed factions that participated in the liberation battles. Al-Sudani later announced that the looted equipment was recovered.
"IRAQI BANK FRIEND AKI UPDATE" BY WALKINGSTICK, 24 FEB
WALKINGSTICK
[Iraqi bank friend Aki update]
The training with the specimen sheets is a daily continuing thing...We don't know if it's going to be the DeLaRue machines or a completely different structured machine because the new security features on the new small lower notes are not recognizable on the old DeLaRue machines. Aki is working with new sorting and counting machines [Not the new DeLaRue machines]...These machines [New DeLaRue] will only be used inside of Iraq. Aki has no need for these machines...Chase's JP Morgan who buys and sell currency around the world would also have these new machines.
The CBI was given new DeLaRue machines to use by the United States Treasury. Why? Because the old DeLaRue machines cannot read the new security features on the new lower notes.
The Government of Iraq is soon to receive the funding for everything that is waiting for a new international exchange rate, for everything the world is waiting for, for what you're waiting for, for what the Iraqi citizens are desperately in need of.
"IRAQI BANK FRIEND UPDATE" BY WALKINGSTICK, 7 FEB
[Iraqi Bank Friend Aki update]
Aki [and his boss Number One] went to the meeting on Thursday with everybody else that represents banks in Iraq. The one question we had for them, 'Gentlemen, we've been seeing some articles that are suggesting maybe we're looking at about two more months away...' [they answered] 'NO! Who told you that!'
All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. All the things that Aki [Iraqi bank friend] had to do in order to qualify to exchange the 3-zero notes into American dollars is done. International platforms that were needed in order to do electronic transfers is done...
[Iraqi Bank Friend Aki update]
This is the monetary reform roadmap for the next couple of weeks...January 29th a banking campaign was started to release deeper education about the monetary reform to the Iraqi citizens
...Either Thursday or Friday the Minister of Planning, Minister of Finance, the Governor of the Central Bank of Iraq and the Prime Minister Sudani are all going to be receiving the flow down of information regarding the new currency that is to be released and the new exchange rate for that new currency...Also...the Erbil Stock Exchange (ESX) and The Iraqi Stock Exchange (ISX) have completed their linkup...of international platforms. They are done and going live at any moment.
https://dinarevaluation.blogspot.com/2024/02/rv-update-by-walkingstick-2-feb.html
All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. All the things that Aki [Iraqi bank friend] had to do in order to qualify to exchange the 3-zero notes into American dollars is done. International platforms that were needed in order to do electronic transfers is done...
[Iraqi Bank Friend Aki update]
This is the monetary reform roadmap for the next couple of weeks...January 29th a banking campaign was started to release deeper education about the monetary reform to the Iraqi citizens
...Either Thursday or Friday the Minister of Planning, Minister of Finance, the Governor of the Central Bank of Iraq and the Prime Minister Sudani are all going to be receiving the flow down of information regarding the new currency that is to be released and the new exchange rate for that new currency...Also...the Erbil Stock Exchange (ESX) and The Iraqi Stock Exchange (ISX) have completed their linkup...of international platforms. They are done and going live at any moment.
https://dinarevaluation.blogspot.com/2024/02/rv-update-by-walkingstick-2-feb.html
The Governor Of The Iraqi Central Bank Identifies The Advantages Of “Electronic Collection”: A Very Important Episode, 24 FEB
The Governor Of The Iraqi Central Bank Identifies The Advantages Of “Electronic Collection”: A Very Important Episode
Economy News – Baghdad Today, Thursday, the Governor of the Central Bank of Iraq, Ali Al-Alaq, described the issue of electronic collection as an “important episode,” and while he pointed to the advantages of collection, he stressed the Central Bank’s commitment to supporting this initiative.
Al-Alaq said in a speech during a workshop organized by the Iraqi Private Banks Association, and attended by an “Al-Iqtisad News” correspondent, that “the launch of the electronic collection project comes as a translation of the commitment of the Central Bank and the banks and financial institutions subject to the supervision of the Central Bank to implement its vision and strategic objectives to develop the financial banking sector in Iraq.”
He added, "The project will contribute significantly to enhancing government resources and collecting them in a reliable, secure and transparent environment, relying on the infrastructure in payment systems and electronic payment platforms provided by the Central Bank and providing payment services."
Al-Alaq stated, “This project generally targets all governmental ministries, as well as non-governmental ministries, unions, and associations from which the amounts are collected,” pointing out that “this project will enable the automation of all collection operations, the adoption of electronic payment tools, and the reduction of cash transactions, which in turn will help reduce the burden of burden on citizens by accelerating the completion of transactions.”
The Governor of the Central Bank explained, “Customers can choose the time and place they want to pay bills, and this will save time and effort and provide services to pay citizens through multiple payment channels with a high degree of trust and security.”
He pointed out that “this matter increases collection rates, reduces costs, reduces the risks of cash dealing, raises the efficiency of the service provided to the citizen, and obtains integrated data and reports,” considering that “electronic collection is an important link among the links seeking to reduce the phenomenon of the cash economy, which the Central Bank seeks to achieve.”
"ANALYSIS OF IRAQ NEWS" BY CLARE, 24 FEB
Clare
Article: "Al-Sudani is making an upcoming visit to Washington" Quote "The two sides discussed the files that will be raised during the Prime Minister’s upcoming visit to Washington, and the cooperation mechanism within the strategic framework agreement between Iraq and the United States, and the committees formed in this regard,”
"ANALYSIS OF IRAQ NEWS"Al-Sudani’s Office: The Iraqi speech in Munich was frank about issues of sovereignty, security, and economic partnerships
2/17/2024
Director of the Media Office of the Prime Minister, Rabie Nader, confirmed today, Saturday, that the Iraqi speech in Munich was frank on issues of sovereignty, security, and serious economic partnerships.
Nader said, in a tweet on the {X} platform, that: “More than 22 meetings were held by the Prime Minister in Munich in just two days, and the Iraqi speech was frank on issues of sovereignty, security, and serious economic partnerships.”
He added, “There was great international understanding of Iraq’s desire to move the relationship with the international coalition countries from security to strategic partnerships in various fields, and the messages were clear that Iraq’s security is necessary for the security of the region and a stable Iraq is in everyone’s interest.”
Nard continued, “Iraq is a meeting point and refuses to be an arena for settling scores, and the international community must move quickly to stop the war on Gaza.” LINK
Clare: Al-Sudani discusses with members of the US Congress the end of the international coalition’s mission and the transition to bilateral relations
2/17/2024
Prime Minister Muhammad Shiaa Al-Sudani discussed, with members of the US Congress, today, Saturday, the end of the international coalition’s mission in Iraq.
Al-Sudani’s media office stated in a statement received by {Al-Furat News} that “Prime Minister Muhammad Shia’ al-Sudani received four members of the US Congress, namely: Mike Turner, McKeirl, Joe Wilson, and Gerry Connolly, on the sidelines of his Excellency’s participation in the 2024 Munich Security Conference.” .
The statement added, “During the meeting, bilateral relations between Iraq and the United States were discussed, and ways to enhance constructive cooperation, as well as a number of files and issues of common interest were reviewed.
The meeting also touched on the ongoing dialogue regarding ending the mission of the international coalition in Iraq, after the arrival of the security forces.” Iraq has reached an advanced stage of readiness and high performance, and the transition to broad bilateral relations between Iraq, the United States of America, and the rest of the coalition countries.”
The Prime Minister stressed, “the necessity of developing relations between the two countries at various levels and sectors, without limiting them to the security aspect only,” pointing to “the state of recovery that Iraq is going through, the reforms it is witnessing in various economic and financial sectors, and the progress of concluding integrated economic partnerships with countries in the region.” “And the world, which will contribute to promoting development and achieving stability for the country.”
For their part, members of the US Congress indicated their “interest in the success of the Iraqi government in several aspects,” stressing “the importance of Iraq and its role in enhancing security and stability in the region.” LINK
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...