DINAR REVALUATION

Monday, March 25, 2024

Jon Dowling News Of The Week Iraq & More

The Upcoming Meeting Between Baghdad And Washington... Hopes For Quick Solutions To Save The Banking Sector From Collapse, 25 MARCH

The Upcoming Meeting Between Baghdad And Washington... Hopes For Quick Solutions To Save The Banking Sector From Collapse

Samir Al-Nusairi Economy News – Baghdad The White House announced that the anticipated and important visit of Prime Minister Muhammad Shiaa Al-Sudani to the United States of America and the meeting with the American administration has been set for next April 15.

Makes it very important, in this critical and complex stage that Iraq is going through, that the agenda include meetings and negotiations with the leaders of the American administration, the Treasury Department, and the Federal Reserve, to determine the next and clear paths for bilateral economic relations between the two friendly countries, which have broad relations in all fields and the topics of the visit?

We believe that one of the important files that will be included in the discussions and negotiations, with the participation of the Central Bank and the Association of Iraqi Private Banks, is the issue of financial and banking reform, protecting the Iraqi banking sector from collapse after the issuance of sanctions and restrictions by depriving 50% of the total private banking sector from dealing in the US dollar, which is the main foreign currency for banking and commercial transactions.

In Iraq and international banking relations for a long time, they must be informed by the American administration and the Ministry of A that continuing to deal with the Iraqi banking system in this exclusionary manner and without explaining the real reasons for the sanctions, which date back to activities of previous years, and that the American officials who issued the sanctions on 28 Iraqi private banks praise the safety of transfers. Foreign Affairs for the purposes of covering private sector imports in 2023 since the implementation of the electronic platform.

This means that the government and the Central Bank are proceeding in coordination and in great cooperation with the US Treasury and the global financial system in accordance with the banking and financial reform strategy adopted by the government in the governmental curriculum and with high discipline in accordance with international standards for combating money laundering and terrorist financing.

These efforts have actually borne fruit in achieving fruitful economic results after the agreements with the American Bank, the US Federal Reserve and some reputable international banks in 2023 and their approval as correspondent banks for some of our banks, and more than 40 accounts were opened for them in these banks.

Therefore, we believe that the inputs and outputs of this important visit must convince the American side to reconsider the sanctions imposed, especially since all the sanctioned banks are currently subject to audit by K2 International, and this confirms the good faith of the banks that the reasons for the deprivation of dealing in the US dollar were not serious errors and can be overcome if they exist. With joint cooperation between the two parties.

The importance of restoring activity and protecting the private banking system and ensuring the results of its work through the electronic platform for the year 2023, which has confirmed its safety and transparency, and I believe that not reaching quick solutions to this issue will lead to confusion in the commercial and banking market and will affect ration card supplies, which are the primary food source for a large segment of the population.

The Iraqi people, the weakening of the plans and procedures of the Central Bank and the government in financial and banking reform, the lack of control over the stability of the exchange rate of the Iraqi dinar, and the damage to the national economy, which World Bank reports confirm that the economy moved during the Sudanese government from fragility to recovery.

The continued sponsorship and support of the United States of America for Iraq as a friendly country requires it to protect the Iraqi economy and the banking sector from collapse in these difficult circumstances that Iraq, the regional countries and the world are going through. We hope that the discussions on the banking file in Washington will result in its return to practicing all its local and international banking activities.

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"IMPORTANT IRAQ NEWS: SUDANESE MEETS WITH THE MINISTER OF FINANCE AND THE GOVERNOR OF THE CENTRAL BANK AND TAKES 3 DECISIONS " BY MNT GOAT, 25 MARCH

SUDANESE MEETS WITH THE MINISTER OF FINANCE AND THE GOVERNOR OF THE CENTRAL BANK AND TAKES 3 DECISIONS

March 14 22:30

Information / Baghdad

On Thursday, Prime Minister Muhammad Shiaa Al-Sudani met with the Minister of Finance and the Governor of the Central Bank and subsequently took 3 decisions related to loans and debts.

The Prime Minister’s Media Office stated in a statement received by Al-Maalouma, that “Prime Minister Muhammad Shia Al-Sudani chaired a meeting that included the Minister of Finance, the Governor of the Central Bank of Iraq, and a number of relevant advisors, in the presence of the Director General of the Trade Bank of Iraq.”

He added, “The meeting discussed a number of issues related to the government banking sector, related to government debts and non-performing private sector loans, and took a number of decisions regarding them, which were the following:

1-The Ministry of Finance begins paying government debts to the Trade Bank of Iraq.

2- Preparing a plan to be presented to the Council of Ministers regarding the repayment of troubled loans owed by the private sector to government banks, including the Trade Bank of Iraq.

3- Forming a joint committee to study expired credits; In order to return its funds to the public treasury.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

Jon Dowling & Rod Steel Discuss Iraq & The RV Is Ready To Go Around Ramadan

Before Sudanese's Visit To Washington, The Factions Are Silent, The Framework Is Waiting, And Parliament Is Waiting For The Implementation Of Its Decision, 25 MARCH

Before Sudanese's Visit To Washington, The Factions Are Silent, The Framework Is Waiting, And Parliament Is Waiting For The Implementation Of Its Decision

Reports | 01:45 - 03/24/2024 Mawazine News – Baghdad The Iraqi armed factions remained silent regarding the visit of Iraqi Prime Minister Muhammad Shiaa Al-Sudani to Washington, which was scheduled for mid-April, amid doubts about the possibility of resolving the issue of ending the role of the international coalition in Iraq during the visit, while Iraqi sources confirmed that Al-Sudani stressed He stressed the priority of this file during his upcoming visit.

Yesterday, Friday, the White House announced that US President Joe Biden will meet with Sudanese at the White House, next April 15, and that they will reaffirm their commitment to the Strategic Framework Agreement, and will work to deepen their common vision for a safe, sovereign, prosperous Iraq that is fully integrated into the broader region, while Al-Sudani's office confirmed that the visit would discuss the post-international coalition phase, without further clarification.

The visit’s program did not appear to be identical, according to the two official statements regarding the international coalition file, which reinforces the factions’ doubts about Washington’s seriousness in ending the coalition’s role in Iraq, especially since American officials had previously confirmed that Baghdad did not request ending the coalition’s role.

The Iraqi government reassured those factions that the issue of ending the coalition’s presence would be among the topics of the visit, and the advisor to the Iraqi Prime Minister, Hussein Allawi, said in a press statement yesterday, Saturday, that “in addition to the data of the dialogues of the Supreme Military Committee, the expected meeting of the Iraqi Prime Minister with the President "A timetable will be determined on the basis of which the American coalition forces will withdraw."

He added, "The strategic partnership between the Iraqi government and the United States proceeds within the framework of the Strategic Framework Agreement that Parliament voted on during the past years," stressing that "Al-Sudani took a decision to end the tasks of the international coalition, and this decision made the Iraqi-American Supreme Military Committee conduct a dialogue between Iraq and representatives The international coalition countries, to set a timetable,

and these dialogues are continuing by the committee and go in the direction of assessing the threat of ISIS and the capabilities of the Iraqi armed forces, and in return, they will set a timetable based on these data on the one hand, and on the basis of the meeting between the Prime Minister and Biden.

"IMPORTANT IRAQ NEWS: AFTER HOSTING THE GOVERNOR. PARLIAMENTARY FINANCE: WE LOOK FORWARD TO RAISING THE VALUE OF THE DINAR" BY MNT GOAT, 25 MARCH

AFTER HOSTING THE GOVERNOR. PARLIAMENTARY FINANCE: WE LOOK FORWARD TO RAISING THE VALUE OF THE DINAR

Baghdad/Iraq Observer

The parliamentary finance committee on Thursday expressed its aspiration to coordinate with the Central Bank to increase the value of the dinar and control the market.

A statement said that “the Finance Committee met under the chairmanship of Atwan Al-Atwani and in the presence of its members with the Governor of the Central Bank Ali Al-Alaq, to discuss monetary policy and the banking system in the country and ways to increase the value of the Iraqi dinar.”

At the beginning of the hosting, which was held at the headquarters of the committee, the chairman of the committee stressed “the importance of following up 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 “its aspiration to coordinate with the Central Bank in order to increase the value of the Iraqi dinar, control the market in order to alleviate the burdens of citizens, and address the deficit.”

For his part, the Governor of the Central Bank reviewed “the economic and monetary aspect, pointing to “the development of basic rules in order to monitor the process of remittances and analyze monetary operations, praising “the role played by the Finance Committee in following up the financial and economic movement of the country.”

The committee discussed with the Governor of the Central Bank the approved international standards, future plans to improve the reality of banks, the possibility of expanding relations with international banks, drawing the structure of banks, and moving towards the electronic payment process, in addition to the possibility of amending the Central Bank Law.