Friday, April 19, 2024
Association of Iraqi Private Banks praises Sudanese visit to Washington, 19 APRIL
Association of Iraqi Private Banks praises Sudanese visit to Washington
Economy News – Baghdad
The adviser to the Association of Iraqi Private Banks, Samir Al-Nusairi, stressed on Wednesday the importance of the visit currently being conducted by Prime Minister Mohammed Shiaa Al-Sudani to Washington regarding financial and banking talks.
Al-Nusairi said in a televised interview followed by “Economy News” that “Sudan Prime Minister Mohammed Shia and his accompanying delegation held an important meeting in Washington with the US Undersecretary of the US Treasury to discuss areas of cooperation in financial and banking aspects.”
He added that “the meeting came out with an official statement that explained that there are measures that will be taken in the light of what happened in these negotiations,” noting that “there is great government interest to achieve the financial and economic reform process and there is American acclaim in this reform process.”
He revealed that “21 private Iraqi banks have opened 40 accounts in correspondent banks during the last period,” explaining that “these private banks are dealing directly with correspondent banks with regard to foreign transfers, which means that the electronic platform will be gradually canceled and left at the end of 2024, and this is what was agreed upon during the current visit of the Prime Minister to Washington and is in line with the strategy of the Central Bank of Iraq.”
Al-Nusairi pointed out that “the Iraqi banking sector hopes that this visit will achieve its objectives with regard to the rehabilitation process that the Central Bank of Iraq began since 2023 in compliance with international standards.”
He added that “next month, three Iraqi banks will be added to those that have opened an account in the United Arab Emirates, as well as those that have correspondent banks in some countries of the world and practice foreign trade financing operations in the dollar currency and other foreign currencies.”
"RV UPDATE" BY PIMPY, 19 APRIL
Pimpy
Really great news came through today... Article "After 21 years of dollar actuation Iraq is approaching the window closed amid reassurances and warnings" Iran was using Iraq's currency auction to funnel the dinar into Iraq for the US dollar...The goal is to have the currency auction ended by the end of this year.
Community Comment "When Donald Trump was president he had an interview on national television with Laura Ingram and he said to the nation just how much dinar currency the United States owns." Did he? Is that what he really said?
Trump interview quote "We have a lot of their money. We have $35 billion of their money right now sitting in an account..."
He wasn't talking about they were holding Iraqi dinar. We were holding Iraq's money period. We had their DFI account as well as all their foreign reserve currencies. That's the money he was talking about...
World Bank Minister of Planning: Our government’s trends to reduce and schedule external borrowing, 19 APRIL
World Bank Minister of Planning: Our government’s trends to reduce and schedule external borrowing
Deputy Prime Minister and Minister of Planning, Mohamed Ali Tamim, met at his residence in Washington, D.C., yesterday evening, Wednesday, with a delegation from the World Bank.
A ministry statement that received a copy of it was {Euphrat News} said that “during the meeting, which was attended by Kazem Al-Hassani, an advisor to the Prime Minister, and a number of those concerned, the mechanisms of scheduling Iraq’s foreign loans were discussed, in cooperation with the World Bank.”
Minister Tamim stressed that “the directions of the Iraqi government are to reduce external borrowing, and have urgent necessities, provided that those loans are directed to development aspects and finance important strategic projects.”
For its part, the World Bank delegation expressed its readiness to provide possible support for the efforts of the Iraqi government in the field of loan scheduling, and joint work to enhance the development areas of loans.
"RV UPDATE" BY FRANK26, 19 APRIL
Frank26
Article: "After 21 years of the dollar auction... Iraq is close to closing the window amid reassurances and warnings" This is so powerful. The closing of the auction windows is the end of those that were stopping the monetary reform..
IMO just before Sudani left on his trip with his delegation to Washington DC to visit the United States Treasury he gave orders to the government of Iraq to start setting up the big screens because he wants to make an announcement once the delegation returns from Washington DC...
IMO the government of Iraq is going to give the citizens what they promised them, purchasing power of their currency. He will keep his promise that he swore upon Allah, introduce the lower notes with the new exchange rate...It is Sudani's intention to make an announcement and we believe it will be done through these screens.
MNT GOAT: HOW IRAQ WILL PAY FOR THE EXCHANGE OF CURRENCY ON REVALUATION, 27 NOV
Mnt Goat ...post RV Iraq will...be on the hook to sell oil to the US at a fixed, low price for the next 30 years (oil credits from our ...
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...