DINAR REVALUATION

Sunday, March 24, 2024

Weekend News with MarkZ. 03/23/2024

Natural resources in Iraq...a huge treasure neglected by an “official decision”!, 25 MARCH

Natural resources in Iraq...a huge treasure neglected by an “official decision”!

3/24/2024

Economic researcher, Ziyad Al-Hashimi, confirmed that (mismanagement of natural resources) is one of the major problems that the Iraqi economy suffers from, as unfair government decisions deprived Iraq of huge billion-dollar revenues and global market shares.

Al-Hashemi said in a blog post on the “X” platform, followed by “ Jarida ”, that “(mismanagement of Iraq’s natural resources) and unfair government decisions have deprived Iraq of huge billion-dollar revenues and global market shares, as Iraq is ranked ninth in the world in terms of size.” It has natural resources within its territory, such as oil, natural gas, phosphate, sulfur, and other minerals.

He added, “Estimations indicate that the value of Iraqi natural resources reaches up to 16 trillion dollars, and this puts Iraq in a distinguished position among the countries of the world rich in natural resources, and despite these enormous wealth, there is official Iraqi negligence to invest in expanding exploration, extraction, production and export.” Many of these resources are natural, as the government’s focus is exclusively on oil.”

He explained, “For example, we find that there is deliberate neglect of the Iraqi phosphate sector (by official decision and for unknown reasons) despite Iraq’s possession of 9% of the global phosphate reserve, and phosphate exports can generate tens of billions of revenues annually for the Iraqi treasury.”

He stressed, “(Mismanagement of natural resources) is one of the major problems that the Iraqi economy suffers from, and it does not appear that there are any official Iraqi efforts to overcome the mistakes that caused billions in losses for this country and its economy, and until the Iraqi government wakes up from its slumber and begins to work diligently and effectively.” Iraq will continue to lose opportunities, shares, and money to other countries, which have greatly benefited from the absence of Iraq and its exports of natural resources from the global market. LINK

"RV UPDATE" BY SANDY INGRAM, 25 MARCH

Sandy Ingram

Article quote: "Salih summarized on Friday the benefits of Iraq's accession to the membership of the European Bank for Reconstruction and Development." It looks like Iraq is doing everything possible to join the international financial platforms. We need to wait and see how this will affect our ability to exchange our Iraqi dinar bank notes for US dollars.

There is absolutely no law against carrying large sums of cash...You can travel with as much money as you want.

However, there is a catch. If you are entering or leaving the Untied States with more than ten thousand dollars in cash or equivalent, you are required to report it to customs and border protection.

This rule applies whether the cash is in U.S. dollars or in a foreign currency...You need to complete a "FinCen 105 form"... What happens if you don't report more than 10 thousand dollars in cash? Failure to report can lead to seizure of the money...You may also face criminal charges...Remember these rules...it's always better to be safe than sorry.]

https://dinarevaluation.blogspot.com/2024/03/rv-update-by-sandy-ingram-21-march.html

Iraq has completed the necessary prerequisites to join the World Trade Organization WTO. This pivotal development reported by Gulf News marks new chapter in Iraq's economic journey...

Joining the WTO is not a mere formality, it necessitates a commitment to aligning with WTO rules by enhancing private sector performance and overhauling trade policies.... Membership in the WTO is a significant milestone for any country.

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.https://dinarevaluation.blogspot.com/2024/03/rv-update-by-sandy-ingram-18-march_01295640786.html

FRANK26…..3-20-24…..A MEETING

Adviser to the Prime Minister: Approving the 2024 budget schedules in the House of Representatives does not hinder their implementation, 24 MARCH

Adviser to the Prime Minister: Approving the 2024 budget schedules in the House of Representatives does not hinder their implementation

{Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that the House of Representatives’ approval of the financial budget schedules for the year 2024 does not hinder their implementation.

Saleh told {Al-Furat News} agency, “The federal tripartite general budget issued pursuant to Law No. 13 of 2023 differs from the annual budgets that are subject to Financial Management Law No. 6 of 2019, amended when the approval of its legislation was delayed, as the Federal Financial Management Law stipulates in one of its paragraphs, that In the event of a delay in approving the general budget law for the new fiscal year, disbursement will be made at a rate of 1/12 of the actual ongoing or current expenditures for the previous year.”

He stated, “The federal tripartite general budget issued pursuant to Law No. 13 of 2023 differs from the annual budgets that are subject to Financial Management Law No. 6 of 2019 amended when the approval of its legislation is delayed, as the Federal Financial Management Law stipulates in one of its paragraphs that in the event of a delay in approving the budget law General expenditure for the new fiscal year shall be made at a rate of 1/12 of the actual ongoing or ongoing expenses for the previous year.

Saleh explained, “Approving the general budget law for three years does not provide legal conditioning for the implementation of the effective administration law as long as the general budget has been enacted according to the law for three years. Therefore, I do not see that the financial tables prepared for approval by the House of Representatives constitute an obstacle to the progress of implementing the plan.”

Finance for the year 2024, in its operational and investment parts, and stopping the wheel of public finance, especially its investment part linked to development and economic prosperity, awaiting the approval of the amended budget schedules approved by the executive authority until it is approved by the House of Representatives, as if the matter requires new legislation that delays the purpose of adopting the three-year budget and the investment in time it entails. ".
At the same time, he noted that “the tripartite budget experiment is a financial experiment taking place for the first time in our country. If its goal was and still is to stabilize the adoption and implementation of national development projects without delay related to the annual budget and its annual legislation, then the disruption of its implementation means a return to the annual budget square.”

Here, the fundamental difference must be made clear between implementing the budget that is enacted on an annual basis and the budget that is enacted on the basis of an average time frame, such as the tripartite general budget issued by Law 13 of 2023.”

"RV UPDATE" BY FREEDOM FIGHTER, 24 MARXH

🇮🇶 Iraq PM to meet with Joe Biden at the White House on April 15th

🟢Talking about US troop removal

🟢Financial reforms

🟢Modernization

🟢Strengthening US/IRAQ relationship

⚠️STAY GROUNDED it’s a process

https://abcnews.go.com/amp/US/wireStory/biden-host-iraqi-leader-talks-underway-winding-coalition-108399491