Monday, February 26, 2024
Sunday, February 25, 2024
For the first time in 20 years. Iraq participates in the Ministerial Conference of the World Trade Organization, 26 FEB
Economy News – Baghdad
The Ministry of Commerce, Sunday, participated for the first time since 2004 in the WTO Ministerial Conference to be held in the capital Abu Dhabi.
Minister Atheer Al-Ghurairi said in a speech during his participation in the preparatory meeting of Arab trade and economy ministers within the Arab Group for the 13th WTO Ministerial Conference followed by “Economy News”, that “Iraq participates for the first time since 2004 in the WTO Ministerial Conference held in the capital Abu Dhabi,” pointing to “the completion of the requirements of Iraq’s accession to the organization represented in the completion of the two files of trade in goods and trade in services within the timing schedule for accession to the global multilateral trade system.”
The minister pointed out that “the desire and seriousness of the Government of Iraq to establish balanced economic relations with all countries of the world and at various levels and fields by improving the business and investment environment and making real reforms in laws and legislation.”
He thanked “the Kingdom of Saudi Arabia to support the process of Iraq’s accession to the international organization through the visit of its permanent ambassador to the organization, Saqr, next, and his chairmanship of the working team on the accession of Iraq.”
On intra-trade and increasing trade exchange between Arab countries, Minister Al-Ghurairi noted “Iraq’s keenness on the importance of the presence of Arab countries in Iraq to restore its active role in economic organizations.”
The minister extended congratulations to the “Comoros and East Timor on their WTO membership.”
"RV UPDATE" BY PIMPY
Pimpy
There's no doubt this [Development Road Project] is going to turn Iraq into a transit center. There's going to be a lot of traffic going through there. [But] Article quote: "Iraq has postponed the launch of its $7 billion development road project to early 2025..." Hello, remember, don't count your chickens before they hatch. We are talking about Iraq. This happens quite often.
Community Comment: "Thanks for the let down once more that Iraq will never RV." I never said it would never RV. Never. In fact I'm the one that said it's going to go up in increments.
Question: "There have been some references...regarding some Iraqi banks in the US, have you heard about any of thee banks on US soil?" Here you go: You have the Iraq National Bank that's in New York. Rasheed Bank that's in New York. North Bank that's Dearborn Michigan, The Bank of Baghdad is in New York City, TBI Bank which is in Washington DC. These are the Iraqi banks that are currently in the US...Community Comment: "Once the 3 zeros are deleted, establishing IQD's REER, then the rate will go up in increments." That's not what you want. You do not want them to delete the zeros before the rate goes up. If they delete the three zeros off your currency then your 25,000 dinar becomes a 25 dinar and then they raise the rate? That's not going to help you. We'll see what happens.
If you're going to exchange your Iraqi dinar, let's just say for the sake of this particular example...3 to 1, congratulations you now got millions of dollars. So you go and you swap your currency and they're saying, 'Hey, you got $3 million in your account.' Yah! You can't say to them I want $3 million dollars because the bank doesn't carry money like that no more. They might say...we are going to allow you to carry out $5,000 for today cash but we're going to have to set an appointment with you to come pick up the rest of the cash...If they have to order currency for you, they're going to charge you a fee because they have to pay a fee...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?"🚨 POST-EXCHANGE WEALTH MANAGEMENT BLUEPRINT (IQD Scenario Planning Guide)
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