Sudani said to his citizens, 'Before the end of Ramadan, before the start of EID it is my desire to make a major announcement.'
Ramadan comes to an end on the 8th of April. On the 9th EID starts. From the 9th to the 11th we have an amazing window to study and to see what happens with our investment because on the 15th Sudani will go to Washington DC to see the president of the Untied States.
Article: "The Central Bank of Iraq clarifies the mechanism for depositing oil revenues abroad"
DFI was part of something called Executive order 13303. President Bush signed executive order 13303...Clinton... Trump...Biden...resigned it. Guess what, executive order 13303...has not been resigned..
We're headed in the right direction...We've been heading in the right direction all along says my teams. But many of you are still anxious for it to happen instantly. That's not how it works...
The Sudanese directs to reject any delay or delay in the development road project.. and an Iraqi delegation visits Europe
Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani chaired the sixth meeting of the Supreme Committee for the Development Road, during which the latest executive steps were followed up and the procedures related to the project continued to be completed, and ways to resolve controls and instructions related to customs, tax and transit tariffs were discussed, within Project management and operation system.
The meeting also witnessed discussion of the tasks of the diplomatic delegation that will visit the European Union countries, in coordination with the Turkish side, within the route of the stations related to the project. The current position of expropriations related to the route of the road was also reviewed, and ensuring the removal of any technical or legal conflicts from all sections.
During the meeting, the Prime Minister stressed the importance of continuous coordination between the relevant authorities, ministries, relevant formations and governorates, on the path of the road, and that these parties as a whole deal with the development road project as a special priority for the Iraqi economy, and that they work to reduce time, overcome routine obstacles and bypass Obstacles.
Al-Sudani also renewed his previous directives to reject any case of delay or delay, given the exceptional importance posed by the path of development, its pivotal position and its connection to all economic development sectors, and the government’s plans to achieve a comprehensive future economic renaissance.
The meeting also reviewed the progress rates achieved in the Al-Faw Grand Port project, its five berths, and the conformity of the work progress with the implementation schedule. link
Executive order 13303 was the protection of the DFI funds of their oil money. All protected by the United States of America...
No one could sue Iraq. Now it's different, this executive order has come to an end...Iraq's new currency exchange rate is under the DFI funds... 13303 was not sighed. This is good. It is fantastic because...as long as the executive order was in place Iraq could not reinstate its currency...
There's nothing like the facts. Everything they're telling the Iraqi citizens is a fact because it's coming from the right sources.
Adviser to the Prime Minister: Iraq is within the safe range countries in terms of paying foreign debts
Today, Thursday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the reasons for reducing annual allocations to pay off foreign debts, while noting that Iraq is among the countries in the safe range in terms of debt repayment.
Saleh said to the Iraqi News Agency (INA): “According to international standards in calculating the ability of the national economy to bear the burden of external debt, Iraq is among the group of countries in the safe range in terms of the global standard for the ratio of the external debt stock,” indicating that “the gross domestic product According to estimates, it does not exceed 20 percent, while the global measure of the debt-to-GDP ratio allows up to 60 percent.
He explained, “Given Iraq’s regularity in repaying its external debts due annually, of which only approximately 20 billion dollars remain, the annual allocations to pay external debts through the federal general budget allocations have begun to show a clear decline and decrease in the amount of external debts due, and this has been reflected.”
This is in the 2024 budget tables regarding allocations for external debt payments, compared to the 2023 budget tables, with a difference of decrease that may exceed a billion dollars.
He added, "Thismatter is reflected in Iraq's high creditworthiness in repaying itsdebts to external creditors and its commitment to repayment since theParis Club Agreement in 2004 until the present. These are annual financial allocation mechanisms whose installments and interest are paid on a regular basis through the annual general budget, and they are decreasing. This means that the external debt gap is heading towards shrinking and then almost disappearing.”
He noted that "theParis Club Agreement in 2004 dropped more than 100 billion dollars ofIraq's pre-1990 debt after Iraq obtained a discount on its debts at thattime, which was 80 percent and more, and only a little of the remnantsof those debts remained after it was removed." The remainder of it has been scheduled and is paid annually according to a precise and regular accounting mechanism on the part of Public Finance and the Central Bank of Iraq, and the continuous decrease in its allocations is demonstrated by the amount of the decrease in the annual allocation of external receivables from the debts that must be paid and their waiver annually link
....Does Iraq need the Oil and Gas law in place prior to the RV? I have to tell you that there is nothing in the 2011 Dr Shabibi plan that tells us it does. Remember back in 2012-2013 he had signoffs from everyone and was moving forward. Did they have the Oil and Gas Law passed. Of course not. So, I believe anything is possible.
So now, we are just waiting for the “giant” leap when the CBI gives them the second rate change. This should bring in much if not all the remaining currency back to the banks that they need desperately for the economy. This second rate change should coincide with the project to delete the zeros. Let’s keep our fingers crossed and PRAY!
Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,