Faction leaders set a "deadline" for Americans: either withdraw or resume fighting, 26 FEB

 Faction leaders set a "deadline" for Americans: either withdraw or resume fighting

Today, Sunday (February 25, 2024), a number of leaders of armed factions in Iraq set a deadline for the United States to withdraw its forces from Iraq completely, while choosing between withdrawing or resuming attacks against US forces.

The US National Radio Network (NPR) quoted statements from the leaders translated by "Baghdad Today", where the spokesman for the Sayyid al-Shuhada Brigades, Kazem al-Fartousi, said that "the factions will resume attacks against US forces again if they do not withdraw by the next US elections in November next year."

Unlike the battles fought by Iraq against Iran and Kuwait, which were imposed on it by Saddam Hussein's regime, this battle against US forces was chosen by the Iraqi people, not only to remove the forces' occupation, but also in support of the brothers in occupied Palestine," al-Fartousi said.

In turn, Kataib Hezbollah spokesman Mohammed Mohi, according to the network, said that "the US administration will pay a heavy price for the assassinations carried out against leaders in the Popular Mobilization Forces during the past month, most notably Baqir al-Saadi," stressing that "Kataib Hezbollah will confront the US forces and expel them not only from Iraq but from the entire region."

The network indicated that "the assassination of Baqir al-Saadi and the air strikes carried out by US forces last month against targets inside Iraq prompted the continuous efforts to remove US forces to escalate," wondering about "the reasons that call for the administration of US President Joe Biden to keep US forces in Iraq despite the lack of need."

The network pointed out in its report and interviews with faction leaders, that "Iraq has witnessed great security stability during the past period, the presence of US forces has become directly threatened by the tension between the factions and those forces," calling for "reconsidering their presence during the coming period to preserve the security gains achieved inside Iraq." 

"RV UPDATE" BY FRANK26, 26 FEB

  Frank26 

 Article: "Trade: Forming a committee to price foodstuffs, limit their rise, and exploit crises" 

 THIS IS WHAT WE TOLD YOU TO LOOK FOR NEXT...Alaq has formed with his cabinet a committee in order to do the repricing because it will be required with a new exchange rate.  What is the conclusion of all this?  I'm excited.  I told you, you should be too.

 Question:  "Is it good to hold some of our currency and hope the exchange rate will increase years from now?"  

That's your decision.  I can't answer that for you.  But it's a logical thing if it's in the float.  Let's say you got 2 million, exchange 1 million and check out the float.  Maybe you can get it for 2 to 1, 3 to 1, 4 to 1.  Yeah, that's proper stewardship.  But based on the amount of time they give you is how you determine whether you hold them or fold them.

 Question: "I appreciate you saying Chase and JP Morgan but is there a problem with Bank of America or Merrill Lynch?"  Who said there was? 

 You want to go to BOA and see if they can hook you up with Merrill Lynch?  Go for it...I told you there would be many banks.  If you don't like this one go to another bank.  There will be many places you can go and exchange to.  

🔥 Iraqi Dinar 🔥 Today's the Day: Bankers and Group Leaders Predict Curre...

Iraq's Oil Revenue Dominance Persists Despite Diversification Efforts, 26 FEB

Iraq's Oil Revenue Dominance Persists Despite Diversification Efforts

Amidst the sprawling landscapes and ancient cities, Iraq finds itself at a crossroads, economically speaking. The Iraqi Ministry of Finance recently disclosed figures that paint a vivid picture of a nation still heavily shackled to its vast oil reserves. Over the last 12 months, the federal budget's coffers swelled to over 135 trillion dinars, of which a staggering 93% was sourced from oil revenues. This slight dip from the previous year's 96% might seem promising at first glance, but it underscores a deeper, more persistent reliance on crude oil, aligning with Iraq's commitment to OPEC's production cuts aimed at stabilizing global oil prices.

The Crux of the Matter: Oil's Overbearing Influence

Despite the global push towards renewable energy and economic diversification, Iraq's economy remains steadfast in its dependence on oil. This reliance is not without its risks, as fluctuations in global oil prices can drastically affect the nation's budget and, by extension, its ability to fund public services and development projects. Economic experts and high-ranking officials, including the Iraqi President and the Prime Minister's Adviser on Energy Affairs, have voiced their concerns, emphasizing the urgent need for Iraq to diversify its economy. Their statements, echoed at conferences and symposiums, highlight the vulnerability of Iraq's economy to external shocks and the critical importance of finding sustainable income sources beyond oil.

A Glimmer of Hope: Efforts Towards Economic Diversification

Despite the challenges, Iraq is not standing still. The country is making concerted efforts to pivot away from its oil-dependent economy. The approval of a record-breaking budget, totaling 198.9 trillion Iraqi dinars for the years 2023 to 2025, is a testament to Iraq's commitment to sustainable growth and improved living standards. This budget, as reported by The Frontier Post, earmarks substantial funds for critical infrastructure projects, public sector expansion, and job creation. Moreover, Iraq's anti-corruption measures, aimed at enhancing transparency and accountability, seek to attract foreign investments. Initiatives like the Development Road project are designed to reduce reliance on oil revenue, enhance global trade connectivity, and diversify the economy through international partnerships. These steps, while in their infancy, signal Iraq's dedication to a more stable and diversified economic future.

The Road Ahead: Challenges and Opportunities

While the path to economic diversification is fraught with challenges, the potential rewards are significant. Diversifying income sources can provide Iraq with a more stable economic foundation, less susceptible to the whims of the global oil market. Moreover, it can spur job creation in new sectors, reduce poverty, and improve the overall quality of life for its citizens. However, the transition requires strategic planning, substantial investment, and, most importantly, time. The international community's role in supporting Iraq through this transition cannot be overstated, offering expertise, investment, and market access to help steer Iraq towards a more prosperous and sustainable future.

The journey of economic diversification is a marathon, not a sprint. As Iraq takes its first steps towards reducing its reliance on oil, the road ahead is long and uncertain. But with strategic vision, international support, and a commitment to sustainable development, Iraq can transform its economy, ensuring a brighter future for its people.

https://bnnbreaking.com/world/iraq/iraqs-oil-revenue-dominance-persists-despite-diversification-efforts

"RV UPDATE" BY MILITIAMAN, 26 FEB

 Militia Man 

 Article quote:  "...the prime minister's...advisors do not have any information regarding the amount of the read and expected deficit in the 2024 budget.  This mater is completely closed until the moment exclusively with the Ministry of Finance."  

 Parts of the government do not know yet what is coming.  

Why? 

 Because they don't have a need to know... 

Article quote:  "...no one know what they include... numbers and details. "  

No one knows until the last moment.  

Why?

  Because they need to keep it tight to the chest.  

 Iraq's natural resources to stimulate growth is off the charts.  They're right there underneath just a few countries... United States, Saudi Arabia...When it comes to valuation they're going to have to value the currency at some point in time to a Real Effective Exchange Rate (REER)...

Iraqi Dinar Latest Exchange Rate Update-Iraqi Dinar News Today 2024-Dina...

Iraqi PM: Iraq adopts balanced approach, steers clear of alliances and axes, 25 FEB

Iraqi PM: Iraq adopts balanced approach, steers clear of alliances and axes

Shafaq News/ On Sunday, Iraqi Prime Minister Mohammed Shia Al-Sudani affirmed that Iraq follows a "balanced approach and avoids alliances and axes" in its foreign relations. 

Speaking during a symposium held by the Baghdad Institute for Dialogue, under the slogan (Regional Communication... The Centrality of Iraq), Al-Sudani said that the government has set a primary goal of "building trust with the Iraqi street, which is the criterion for determining priorities in work." 

On the security file, the Prime Minister affirmed that "ISIS today represents a defeated organization, as recent operations by our armed forces have proven its inability to even exist in remote areas. The achievement of stability and the development of our forces' capabilities bolster the conviction in the possibility of ending the presence of the Global Coalition and moving towards bilateral relations." 

Notably, Iraq declared victory over ISIS in 2017. Still the Global Coalition forces led by the United States are in Iraq at the request of the Iraqi government only for training and advisory issues. 

But, after the last US attacks on the Popular Mobilization Forces, killing members of Harakat Al-Nujabaa and others, Iraqi officials stressed the necessity to end this presence under the Iraqi Parliament non-binding resolution submitted in January 2020. 

Regarding Iraq's foreign relations, Al-Sudani clarified that Iraq adopts a" balanced approach, steering clear of alliances and axes, and is open to advanced ties with everyone." He highlighted Iraq's "ability to communicate with others and its distinguished relations with the United States and Iran." 

Notably, Iraq relies on Iran in many economic fields, including Power supply, and on the US in providing oil revenues; therefore, the country is trying to be a bridge to enhance the relations for its own benefit. 

During the Symposium, Al-Sudani reiterated Baghdad's rejection of being used as a "battleground for others' conflicts," emphasizing the importance of intertwining regional interests and shifting focus from politics to economy. 

Concerning the economic progress in the country, Al-Sudani stated that "major strategic projects, such as the Development Road project, will attract partnership and economic integration, enhancing Iraq's idea of proposing an economic bloc, as previously suggested at the Arab Summit to fuel development and reinforce integration among Arab countries." 

The Development Road Project is a $17 billion infrastructure initiative in Iraq. Its core objective is to establish a seamless motorway and rail network connecting the southern port city of Basra to the Turkish border. This ambitious project will also integrate with existing road and rail networks, ultimately establishing a crucial link between Asia and Europe.

https://shafaq.com/en/Iraq-News/Iraqi-PM-Iraq-adopts-balanced-approach-steers-clear-of-alliances-and-axes