Frank26:"EVEN THOSE THAT WERE AGAINST THE MONETARY REFORM ARE NOW FORCED TO TELL THE TRUTH!!!"..........F26
After hosting the Governor... Parliamentary Finance: We look forward to raising the value of the dinar
March 14, 2024 Baghdad
Today, Thursday, the Parliamentary Finance Committee expressed its aspiration to coordinate with the Central Bank to increase the value of the dinar and control the market.
A statement stated, “The Finance Committee met under the chairmanship of Atwan Al-Atwani, in the presence of its members, with the Governor of the Central Bank, Ali Al-Alaq, to discuss monetarypolicy, the banking system in the country, and ways to increase thevalue of the Iraqi dinar.”
At the beginning of the hosting, which was held at the committee’s headquarters, the Chairman of the Committee stressed “the importance of following up on the economic file and monetary policy, based on the supervisory side, and finding appropriate solutions to the obstacles facing the work of the Central Bank.”
The Finance Committee expressed “itsaspiration to coordinate with the Central Bank in order to increase the value of the Iraqi dinar, and to control the market in order toalleviate the burdens of citizens, and address the deficit.”
For his part, the Governor of the Central Bank reviewed “the economic and monetary aspect, pointing out” the establishment of basic rules in order to monitor the remittance process and analyze monetary operations, praising “the role played by the Finance Committee in following up on the country’s financial and economic movement.”
The committee discussed with the Governor of the Central Bank the approved international standards, future plans to improve the status of banks, the possibility of expanding relations with international banks, drawing up the structure of banks, and moving towards the electronic payment process, in addition to the possibility of amending the Central Bank law.
Frnk26\ FAMILY... ALAQ IS ALSO TALKING ABOUT 1.32 & THE LOWER NOTES -F26) LINK
Iraqi housing woes: government acts with 52 new cities
Shafaq News/ Iraq needs to build 3 to 3.5 million housing units to tackle the rapidly growing population, which increases by approximately 2-3% annually. The government is working on creating 52 new residential cities in central and southern governorates, offering various housing loans. These efforts are seen as crucial steps to address the challenges millions nationwide face. For about five years, authorities have been striving to solve the housing crisis by launching plans tailored to Iraq's population of over 43 million. They're also making accessing loans with affordable interest rates for citizens. The initiative targets the poor and middle class, who struggle to purchase houses due to sky-high prices caused by years of poor planning and widespread corruption.
Further, the struggle to afford homes for the population has almost doubled since 2003, forcing millions tо settle down іn slums. According tо the Ministry оf Planning іn 2021, 3 million citizens live іn 4,000 slums and irregular settlements, with over 1,000 slums only іn the capital, Baghdad. Skyrocketing Prices Abu Hussein, 55, a renter in Babil governorate, highlights the struggle of most citizens who cannot buy houses. "Most citizens can't afford to buy homes, whether it's land plots, which have skyrocketed unnaturally, or residential complexes, whose prices have also inflated disproportionately," he told Shafaq News Agency.
"Those with limited incomes, including the middle class, cannot purchase homes because of the inflated prices and unreasonable down payments, which can exceed 50 million dinars," Abu Hussein added. The Iraqi Ministry of Construction and Housing has announced plans to establish 52 new residential cities nationwide to address the housing crisis and high property prices. The ministry spokesperson, Istabraq Sabah, emphasizes that while the housing crisis won't be resolved quickly, the government's focus on new residential cities is a crucial step forward. 52 New Housing Developments "We've started with the Al-Jawahiri City project in Baghdad, laying its foundation stone on December 27, 2023. It's a sustainable city with over 30,000 housing units and comprehensive services, including education, industry, and healthcare. Prices will be somewhat subsidized, and the government won't tolerate speculation," Sabah told Shafaq News.
"We've also begun the Ali al-Wardi City project. However, This isn't just in Baghdad, in Nineveh governorate, we've initiated the Al-Ghazlani Residential City project, aiming for 28,000 units," he added. "Similar projects are underway in Babil, Karbala, Najaf, Amarah, Al-Anbar, and Saladin, totaling around 52 new developments under the Ministry of Construction," revealed Sabah. Free Housing Quotas for the Poor "For the Al-Jawahiri City project (with 7,121 dunams,) the government has decided to provide 10,000 serviced residential plots of land to be distributed to citizens of different categories," explained Sabah. In the Al-Ghazlani project, the government has mandated that 15% of the 28,000 housing units be provided free. This means the investor or contractor will give 4,200 housing units for free, which will then be distributed to people experiencing poverty either at low cost or for free.
"Similar agreements have been made for other residential cities, with negotiations for a percentage of free quotas. These could be land plots or different types of housing units," clarified Sabah. Discussing the impact of these initiatives, Sabah said, "These efforts will significantly reduce the housing crisis, with around 190,000 housing units planned in just a few cities." Apart from residential cities, the Housing Department also constructs housing complexes, with thousands of loans the Real Estate the Housing Fund disbursed monthly under the Ministry of Finance to purchase housing units.
"These loans, along with the Housing Fund and complexes constructed by the Housing Department, are practical solutions that will help close Iraq's housing gap estimated at around 3 to 3.5 million units," according to the spokesperson. "Addressing this need for over 3 million housing units will take time, but the current government is taking tangible actions within its means," emphasized Sabah. Trading in Housing Market Economic expert Karim Al-Helou stresses the importance of "preventing people who already own a home from buying more properties just to trade them. This speculation only worsens the crisis."
Speaking to Shafaq News Agency, Al-Helou explained that there are different ways to address the housing crisis. "For instance, in Germany, social housing assistance is designed to help households that would otherwise struggle to secure suitable accommodation in the housing market. It is affordable and can be rented or purchased through installments," he said. The German project includes, in particular, low-income households and families and other households with children, lone parents, pregnant women, the elderly, the disabled, the homeless and others in need. Al-Helou also suggested that lands for housing projects are often given free to investors.
"Housing units should be allocated to those who don't own a home, and flipping them should be stopped to prevent price hikes due to speculation," he warned. Government Task Force for Housing Solutions In a routine session on March 7, 2023, the Iraqi Cabinet decided to form a high-level task force to tackle the country's housing crisis, focusing on assisting the poor and those with limited incomes. Led by the Minister of Construction, Housing, Municipalities, and Public Works, Bengen Rikani, the team also includes the Minister of Environment, the President of the Advisory Board, the Chairman of the National Investment Commission, the Mayor of Baghdad,
the Governor of the relevant governorate, the Head of Legal Affairs at the Cabinet Secretariat, and the Director General of the Regional Development Department at the Ministry of Planning. According to a statement from the government's media office, the team's responsibilities include planning and overseeing the establishment of new cities, ensuring a balance between supporting housing projects for low-income groups, encouraging private sector involvement, and improving government services. "The team is also tasked with developing economic systems and quality standards suitable for the local context, regulating land distribution and investment, facilitating investment processes, proposing financing models, and enhancing governance for these cities," the official statement explained. Empowered by the Cabinet, the team can approve urban development plans, negotiate with developers and investors, and explore innovative partnerships with the private sector. Additionally,
it will review project standards, assess investment requests, and form technical teams to oversee the development of new cities. New Government Departments for New Cities Iraqi Prime Minister Mohammed Shia al-Sudani's media office announced on April 13, 2023, the formation of new government departments dedicated to overseeing new cities. "These departments include municipal offices in Ali al-Wardi (Baghdad), Al-Salam (Najaf), Al-Mutanabi (Wasit), and New Diwaniyah (Diwaniyah)," a statement said. The Prime Minister stressed the importance of establishing fully equipped new cities with proper infrastructure and economic models, emphasizing the need to avoid distributing land without services, which could lead to flawed urban development.
Do not purchase any currency with Saddam's face on it unless you purchase it as a collector.Purchase currency that is now in circulation in Iraq.
OPEC+ members agreed to extend voluntary production cuts by 2.2 million barrels per day in the second quarter of the year...
Iraq is losing anywhere from $2 to $3 billion a month in OPEC's volunteer program to cut oil production.
IMF's report on Iraq's economy. This is a critical report dealing with Iraq's...financial future...
Iraq could easily be on the path to a higher exchange rate depending on how the country responds to the IMF recommendations...
Iraq's non-oil economy is expected to continue to its growth in 2024 after expanding by 6% in 2023. The IMF also reported Iraq's economy is projected to rebound in 2024...
Iraq needs more sustainable non-oil growth according to...the IMF mission.
Iraq's Counter-Terrorism Forces Nab Two ISIS Operatives in Kirkuk
Iraq's Counter-Terrorism agency made a significant breakthrough in the fight against the Islamic State (IS), capturing two of its members in Kirkuk, a strategic city that has seen its fair share of turmoil and violence. This operation, executed with precision and based on exceptional intelligence and surveillance, underscores Iraq's ongoing commitment to dismantling terrorist networks within its borders.
Strategic Arrests in the Heart of Kirkuk
The capture of these two operatives is not just a routine security operation; it represents a considerable victory for Iraq's Counter-Terrorism forces. One of the individuals arrested played a crucial role as a logistics officer, orchestrating the movement and supply of resources for IS factions that once dominated large areas of Iraq and Syria. His counterpart, a transporter, facilitated the mobility of IS members and equipment, proving instrumental to the group's operations in Kirkuk. The culmination of this operation showcases the intricate and robust intelligence framework Iraq has developed to track and dismantle terrorist cells.
From Dominance to Decline: The ISIS Story
IS's rapid ascent in 2014, marked by the capture of significant territories in Iraq and Syria, posed a formidable challenge to regional stability and security. However, the group's dominance was short-lived, thanks to the concerted efforts of international coalitions and local forces. By 2017, IS had lost most of its controlled areas, but remnants of the group continue to operate in shadows, necessitating vigilant counter-terrorism measures. The arrests in Kirkuk underscore the persistent threat IS poses and the continuous efforts by Iraqi forces to secure the nation against terrorism.
Implications for Regional Security and Counter-Terrorism Efforts
The success of this operation has far-reaching implications, not only for Iraq but for the broader Middle East's security landscape. It sends a strong message to remaining IS cells and other terrorist organizations that Iraq is bolstering its intelligence and counter-terrorism capabilities. Moreover, it highlights the importance of regional cooperation, as evidenced by the coordination between Iraq's Counter-Terrorism Service and the security forces of the Kurdistan Region during the operation. Such collaborative efforts are crucial in the ongoing battle against terrorism, suggesting a promising path toward lasting peace and stability in the region.
As Iraq continues to grapple with the remnants of IS, the arrest of these two operatives in Kirkuk serves as a testament to the resilience and dedication of its counter-terrorism forces. While challenges remain, this operation exemplifies the progress being made in the fight against terrorism, offering a glimmer of hope for a nation striving to rebuild and secure a peaceful future.
We know Sudani came out, it's no longer a secret...We know the monetary reform is coming. We know they are suggesting 1.32. I suggested higher, but who knows. All of a sudden... parliament came out and said, 'Oh...we look forward to our currency to have value, put on to it...we're passing the laws.' That was interesting.
Those that for decades have stopped the possibility of a new exchange rate to come out for the currency of Iraq are now finally saying, Uncle...! Even those that were against the Monetary Reform are now forced to tell the truth!
I made a mistake...$0.76 was correct. I apologized...It's 1.32 to $1 which comes out to the $0.76.
Article: "Among them concerns the dinar... the outcomes of Parliament’s finance meeting with the Central Bank"
ALL THEY TALK ABOUT IS THE 1.32 & THE INTRODUCTION OF THE LOWER NOTES!!! FINALLY...
THE SOUND HEARD AROUND THE WORLD! This is actually happening. This is a reality. The monetary reform to add value to the currency and then to float internationally is a reality...because it's in print.
There was an announcement made by the Prime Minister Sudani...He told the Iraqi citizens, I'm going to add value to your currency. He used a solemn oath that swears upon Allah their God.
You don't go around breaking that promise. It was exciting to realize the Prime Minister told the people, I assure you, I give you a solemn holy oath were going to add value to the currency...Sudani told the citizens we're going to raise it to $1.32...He explained if we lift the 3-zeros from the exchange rate we'll be able to give you $1.32 in country. That's good purchasing power.
