"ABOUT REDEMPTION CENTER PROCESS" PART.3, BY TEXAS SNAKE, 8 APRIL

TEXAS SNAKE

 While all Tier 1 and 2 banks have foreign currency exchange counters, while not every branch may process exchanges in most all the larger city branches provide this service.  Anyone, whether a bank customer or not can enter and exchange acceptable foreign currency that is traded on the FOREX.  The banker looks up on their screen what the Bid and the Asked prices for said currency and if you are purchasing you pay the Bid and if you are selling you receiver the Asked, the difference being the what is considered the commission.  

   How the Exchange Center concept was created was to offer the additional cash associated with our exchanging currency so we could participate in the Chinese Elders offer of a rate above the FOREX published rates in order for us to be the bridge to improving humanity for those less fortunate.  We would also personally benefit by offsetting some of the costs associated in gifting to others outside of our immedate family.  Establishing Trusts and Foundations, etc.

Texas Snake, [03/16/2024, 1:34:29 p. m.]:

If you were not required to provide an email address or a phone number upon purchasing currency, or if you have not subscribed to a foreign currency internet service providing your email address to receive daily currency updates chances are pretty good you will not be notified when the currency revalues.                                                                                                   The exchange centers were set up in conjunction with the major Tier 1 banks to assist the public in exchanging their currency as well as to offer wealth management services to the new rich.  You may elect to accept their offer or seek other investment management services.

You receive an email or phone call to contact by using an 800 number to discuss exchanging currency you have purchased.  You will be asked to identify you hold, and a city in which you would like to exchange in, as well as the Tier 1 bank you would like to conduct your business through.  You just need to identify the particular currencies you hold not the amounts of each.  Once you have provided this you will be given a second number to contact the bank you wish to use in the city of your choice.  This second number is who you will establish your appointment to exchange with by date and time and will be given instruction of all you need to bring along fo ID purposes.

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Awadi announces external debt drop to about $9 billion this year, 8 APRIL

Awadi announces external debt drop to about $9 billion this year

Economy News – Baghdad

The spokesman for the Iraqi government, the name of Al-Awadi, announced on Monday that it has reduced the external debt and decreased to approximately $8.9 billion during the current year 2024.

Al-Awadi said in a statement, seen by “Economy News”, that “as an affirmation by the government of transparency in economic work, and to inform national and international public opinion and media about Iraqi economic performance, and in light of the approval by the Council of Ministers of the recommendations of the Diwan Order Committee 23942, related to the regulation of external borrowing of Iraqi public foreign debt, the government has taken a series of executive measures, and adopted a package of financial decisions, which ended in reducing external public debt by more than 50%, to reduce the debt from $1 19.729 billion in late 2022, to $15.976 billion in 2023, to nearly $8.9 billion this year.”

Al-Awadi explained that “these financial steps, (which included stopping a number of borrowing operations due to their relaxity and non-productivity, regulating, managing and auditing debts, and restructuring some debts and directing them to create strategic projects), aim not to mortgage the Iraqi economy to commitments that may affect, in the future, the political decision, or the path of national development, and they coincide with an urban renaissance, and reconstruction in infrastructure, which opens the way for a promising future and a refreshing economy, in which our current and future generations perform the best performance, and receive the greatest opportunities.”

He pointed out that “the government organized the process of financing cooperation with the international community in specific contexts, including direct and productive borrowing, providing sovereign guarantees to ensure the production of projects carried out by the private sector for the benefit of the government, and the sovereign guarantees provided by the government for the benefit of institutions that finance the Iraqi private sector importing production lines in order to build factories inside Iraq.”

He stressed that “these steps pave the way for the further integration of our country into the international economic cycle, and that the government adopts the principle of productive borrowing only, which effectively leads to an increase in GDP, and the financing of service and productive national projects with economic returns, in order to ensure their completion and not delay.”

Al-Awadi continued, “With these steady steps, the government renews its determination to continue to make a qualitative leap in the Iraqi economy, in parallel with a tangible development in the services, infrastructure and social welfare sectors, which are all the pillars required to meet the aspirations of our people throughout Iraq, and implement the government program with its priorities and objectives.”

https://economy-news.net/content.php?id=42316

Evening News with MarkZ. 04/08/2024

"SUDANI IS PAYING MANY BILLS" by FRANK26, 8 APRIL

ktfa

frank26: "SUDANI IS PAYING MANY 

BILLS"...........F26

 

Baghdad releases 430 billion dinars in funding for the Kurdistan Region’s salaries

4/7/2024

 

The Ministry of Finance of the Kurdistan Region announced the deposit of 430 billion dinars in salaries from Baghdad into the ministry’s bank account.

According to a statement by the Ministry of Finance of Kurdistan, “Recently, an amount of 430 billion and 109 million dinars was deposited by the Ministry of Finance of the Iraqi government on the bank account of the Ministry of Finance and Economy in the Kurdistan Region in the Erbil branch of the Central Bank of Iraq.”

The money, as stated in the statement, is part of the monthly salary of employees in the Kurdistan region.

Yesterday, the Federal Ministry of Finance announced the launch of funding for the salaries of Kurdistan Region employees for the month of March, “because the mechanism for completing the localization of their salaries requires an additional period of time.”

LINK

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"EID STARTS TUESDAY" BY FRANK26, 8 APRIL

 KTFA

FRANK26:"EID STARTS TUESDAY".........F26

The Council of Ministers holds its regular session today instead of Tuesday due to the Eid al-Fitr holiday

4/7/2024

Baghdad – 

Today, Sunday, the Council of Ministers held its regular session under the chairmanship of Prime Minister Muhammad Shiaa Al-Sudani. The session was postponed from its scheduled date every Tuesday due to the Eid al-Fitr holiday.

A statement from Al-Sudani’s office, a copy of which was received by 964 Network:

The Council of Ministers holds its regular session under the chairmanship of the Prime Minister, Mr. Muhammad Shiaa Al-Sudani, which was postponed to its scheduled date due to the Eid Al-Fitr holiday.

LINK

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The Iraqi market suspends its activity for 6 days

4/8/2024

The Iraq Stock Exchange announced, on Monday, the suspension of its activity for a period of six days.

The market stated, in a statement received by Shafaq News Agency: “Based on the Council of Ministers’ decision to declare a six-year official holiday for Eid al-Fitr, the market’s activities and trading sessions will stop for six days.”

He explained, "The holiday will be starting Tuesday, April 9, and trading sessions will resume on Sunday, April 14."

It is noteworthy that the Iraq Stock Exchange organizes five trading sessions weekly from Sunday to Thursday, and 103 Iraqi joint stock companies are listed, representing the sectors of banking, communications, industry, agriculture, insurance, financial investment, tourism, hotels and services.

LINK