IMF world bank Iraq BY NADER FROM MID EAST

After two decades of neglect... Iraq adopts a strategy to invest in phosphate, 23 APRIL

 After two decades of neglect... Iraq adopts a strategy to invest in phosphate

 Oil is not the only thing that Iraq owns, but due to the political and security conditions that the country has witnessed over the past years, successive governments have not succeeded in investing in mineral resources other than oil, which has made Iraq a hostage to oil export operations, which constitute the main source of the country’s budget with more than 95%.

With Iraq possessing a huge reserve of phosphate, amounting to 9 percent of the global reserve, Representative Mudar Al-Karawi revealed the adoption of a strategy to invest in phosphate and operate its factories.

It is noteworthy that phosphate, fertilizer, brick, paste and pharmaceutical factories are all stopped or almost stopped, although they are intertwined with the agricultural and industrial sectors.

Al-Karawi said in a press statement, “Iraq possesses huge reserves of phosphate, which is used in various industries, including fertilizers of various kinds, and which constitutes an economic sector whose financial ceilings worldwide reach tens of billions of dollars annually.”

He added, "Despite the huge reserves of phosphate, Iraq imports 60-70% of its needs from abroad at double prices," pointing out that "the government has actually begun to adopt a strategy for investing in phosphate, operating its factories, and pumping its production, especially since phosphate represents the third largest natural wealth in the country." The country after oil and gas.

He pointed out that "the documented reserves in several regions of Iraq, especially the western one, indicate that they are sufficient for production for many decades, meaning that we are facing a wealth that will not be depleted in the short term, in light of the presence of dozens of markets to receive it in order to revive agriculture."

The specialized international economic website Statista published a report on the natural resources possessed by the countries of the world, where Iraq ranked ninth in the world, as it possesses 15.9 trillion dollars in natural resources, and its desert terrain contains oil, natural gas, phosphate and sulfur, according to the website.

Crude oil constitutes about 90 percent of state budget revenues, while other imports are marginal in the form of taxes and customs revenues, and some revenues from the transportation and communications sector, among others.

Iraq has a reserve amounting to 9 percent of the global reserve of phosphate, but this huge reserve has remained buried underground since 2003 and has not been invested or exported, at a time when the country depends on importing this material, which is used in many industries.

The annual export rate of phosphate products from Iraq abroad, especially to East Asian countries, before the Gulf War in 1991, amounted to half a million tons annually, with almost constant revenues that were included within the country’s non-oil resources.

Most of the phosphate reserves are located in the Al-Qaim region, and the area extending over 80 kilometers is known as “phosphate mines.”

Phosphate plants in Anbar have turned into rubble since 2003, despite the dependence of many industries on this material, in addition to its previously supplying the state treasury with 22 percent of its revenues during the previous regime.

The industrial sector in Iraq in general has been facing a major deterioration since the year 2003 until now, with most factories stopping and turning to imports. The Federation of Iraqi Industries estimated years ago the percentage of stalled projects at 40 thousand projects, and successive government programs always include a theme of revitalizing the local economy and industry. However, without achieving any promise, the wheel of trade exchange with the countries of the region continues while neglecting the local industry.  link

"RV UPDATE" BY TEXAS SNAKE, 23 APRIL

TEXAS SNAKE 

Yes he uses a CBI Debit card to purchase items in Beeville and he discovered the exchange rate on a recent purchase equaled $3.90 US for his Dinar value up substantially from before the in country RV.

---

This may be a little longer post than usual as the powers that be do not wish to get anyone''s hopes up only to be disappointed when the RV does not come in. 

Well I spent 40 years in the investment banking and financial planning industry which allows for a slight advantage in researching certain areas of the acknowledged resources regarding money and securities. 

Those areas being the IMF, FOREX, WTO, etc, etc.  

The Prime Minister returned to his country on this past Monday, he turned over to the head of the CBI to announce the pending revaluation of his nations currency. 

The CBI provided the new rate to the IMF who in turn provided this rate to the FOREX which by policy has 72 hours from receipt to post for universal recognition which will be sometime between now and Wednesday 4/24/2024 by 7:00 PM.  

Since both the Gazette and the IMF rate schedules are published on Wednesday each week we can assume should there be a revaluation we should receive that news during this window. 

Don't get excited or make any serious decisions but please stay calm and watch the next few days as we seem to be this close.  GOD Bless

https://dinarevaluation.blogspot.com/2024/04/pm-returned-to-his-country-to-announce.html

Iraqi Dinar update for 04/22/24 - why Iraq and other countries want to a...BY PIMPY

Parliamentary Foreign Ministry: The quadripartite agreement of the development road project will contribute to stimulating economic growth and enhancing regional and international cooperation, 23 APRIL

  Parliamentary Foreign Ministry: The quadripartite agreement of the development road project will contribute to stimulating economic growth and enhancing regional and international cooperation

 Baghdad / Nina / The Parliamentary Foreign Relations Committee affirmed its support for the government's efforts and positive steps to build integrated strategic relations regionally and internationally, and pointed out the need for these steps to be a real turning point in Iraq's foreign policy.

The committee said, in a press statement, that "the quadripartite agreement between Iraq, Turkey, Qatar and the Emirates on the development road project, will contribute to stimulating economic growth and strengthening regional and international cooperation relations, by achieving economic integration and striving towards a sustainable economy between East and West."

The committee appreciated the efforts of Prime Minister Muhammad Shia Al-Sudani related to developing bilateral relations and building real long-term strategic partnerships between Iraq and Turkey, which culminated in the visit of Turkish President Recep Tayyip Erdogan and discussing the files of water, security, energy and economy, and the signing of important agreements and memoranda of understanding between the two countries

Including the signing of the strategic framework agreement between Iraq and Turkey, and the framework agreement for cooperation in the field of water, which includes mechanisms and radical treatments for the entire water system and achieves an effective partnership. aims to ensure the provision of water, water and food security to Iraq./Ends5

ISO 20022 UPGRADE OF SWIFT MESSAGES FOR MONEY SETTLEMENT ANNOUNCEMENT BY GOLDILOCKS, 23 APRIL

 Goldilocks and Seeds of Wisdom

ISO 20022 UPGRADE OF SWIFT MESSAGES FOR MONEY SETTLEMENT ANNOUNCEMENT:

“To act in concert with the global standard of adopting ISO 20022 in SWIFT and Hong Kong RTGS for payment-related SWIFT messages, OTC Clear has planned to migrate money settlement messages from existing SWIFT MT messages to ISO 20022 XML-based message (“MX messages”) on 22 April 2024.”

On April 22nd, 2024, the Society for Worldwide Interbank Financial Telecommunications and Real Time Gross Settlements is upgrading to the ISO20022 messaging system.

The Hong Kong Interbank Clearing Limited and the Hong Kong Securities Clearing Company Limited will soon after do a market-wide testing to make sure the clearing systems of the East and West are synchronized.

Once this interface is complete and tested, the new settlement messaging system for tokenized assets through Stablecoins, already tested and regulated, in Hong Kong will be able to move digital money in cross-border International trades.   This will enable foreign currency exchanges to take place on this new Digital Financial Settlement System.

HKEX | Adenza

© Goldilocks

The Iraqi Prime Minister is Talking in Code #iqd Rate BY SANDY INGRAM