Monday, May 6, 2024
"CAN'T WE JUST GET ALONG... LET'S TRY." BY FRANK26, 6 MAY
KTFA
FRANK26: "CAN'T WE JUST GET ALONG... LET'S TRY.".................F26
Iraq and Iran specify 23 negotiating documents that include energy, trade, and transportation
5/5/2024
The head of the Organization for Investment, Economic and Technical Aid in Iran, Ali Fikri, announced on Sunday the identification of 23 documents in the fields of energy, transportation, trade, provision of technical and engineering services, investments, finance, and banking for negotiation with Iraq in the joint committee between the two countries.
The Iranian Tasnim news agency quoted Fikri as confirming the start of the sixth official meeting of the Joint Coordination Committee for Economic Cooperation between Iran and Iraq, adding: “At the beginning of the work of this committee, the subcommittees will study the initial initiatives so that the two parties can, during the next two days, formulate draft memorandums.” The understanding and documents that are signed during the official visit of high-ranking officials from the two countries.”
He added, "The ceremonies of the negotiation session between the two parties will take place in the afternoon at the public meeting of the joint committee between the Iranian Minister of Economy and the Iraqi Minister of Commerce," noting that "the committees consist of five committees, including energy, transportation, trade, provision of technical and engineering services, investments, finance, and banks." .
Fikri continued: “In addition to these documents, there are some special projects such as developing industrial zones, balancing economic relations between the two countries, joint investments between the two parties, and removing trade obstacles, whether in the financial and banking field or in the field of laws and legislation. We will present them at this meeting to reach agreements that enhance Relations between the two countries."
On Sunday morning, the meetings of the sixth session of the Iraqi-Iranian Joint Committee began in the capital, Tehran, which is headed by the Iraqi Minister of Commerce, Atheer Al-Ghurairi, to discuss strengthening economic and trade relations and understanding the ten joint memorandums of understanding that the two sides intend to sign in various fields and in a way that serves their common interests.
According to an Iraqi Ministry of Commerce statement, the work of the committee will continue over the fifth and sixth days of this month of May, as today the discussions of the specialized committees will take place in the presence of members of the delegations of both sides to reach the final joint report at the headquarters of the Iranian Ministry of Economy and Finance.
LINK
"ABOUT IRAQ SEEKING MORE INVESTOR AND THINKING TO FLOAT THE IRAQI DINAR" BY GOLDILOCKS, 6 MAY
GOLDILOCKS
Iraq seeks more investors for mega rail project
https://www.zawya.com/en/projects/construction/iraq-seeks-more-investors-for-mega-rail-project-ep54ndjw
--
"...of floating to achieve a homogeneous equilibrium exchange rate..."
This article talks about utilizing supply and demand to create a higher exchange rate to meet the demands for their currency currently taking place.
The global standard for raising a currencies' price is 3 months. Iraq has reached a higher level of money velocity for the last 16 months.
This is putting price pressures on their currency. Currently they are seeking more bilateral contracts to secure a position that would allow them to change their monetary policy.
Currently, "The General Directorate for Industrial Development (GDID), part of the Iraqi Ministry of Industry and Minerals, has granted 219 preliminary licences for new industrial projects."
An industrial project is an investment to create, expand, and develop facilities that will increase the production of goods and services in a country.
© Goldilocks
https://mawazin.net/Details.aspx?jimare=247171
https://www.iraq-businessnews.com/2024/05/02/gdid-grants-219-licenses-for-new-projects-in-iraq/
To reach an agreement on 10 memorandums...the start of the meetings of the sixth session of the Iraqi-Iranian committee in Tehran, 6 MAY
To reach an agreement on 10 memorandums...the start of the meetings of the sixth session of the Iraqi-Iranian committee in Tehran
Today, Sunday (May 5, 2024), the Ministry of Commerce announced the start of the meetings of the sixth session of the Iraqi-Iranian Committee in Tehran.
The ministry’s media stated in a statement received by “Baghdad Today” that “the meetings of the sixth session of the joint Iraqi-Iranian committee began in the Iranian capital, Tehran, which is headed by the Iraqi side, Minister of Commerce Atheer Daoud Al-Ghurairi, to discuss strengthening economic and trade relations and understanding the ten joint memorandums of understanding that the two sides intend to sign.” in various fields and in a manner that serves their common interests.”
He explained, "The committee's work will continue over the fifth and sixth days of this month of May, as today the discussions of the specialized committees will take place, in the presence of members of the delegations of both sides, to reach the final joint report, at the headquarters of the Iranian Ministry of Economy and Finance."
The statement indicated that "the specialized committees included the Commercial, Industrial, Agricultural, Standardization and Quality Control Committee, the Energy Committee, the Financial, Banking, Investment and Insurance Committee, the Shipping, Transport and Customs Committee, and the Scientific and Educational Consulate Committee, Tourism, Health and Sports". link
"RV UPDATE" BY ARIEL, 6 MAY
ARIEL
To Float Or Not To Float
If Iraq decides to come out with a fixed exchange rate of 3.00 (assuming you mean 3.00 Iraqi Dinars per 1 US Dollar), it would mean that the central bank commits to maintaining this exchange rate by actively buying or selling its currency in the forex market. This can provide stability and predictability for international trade and investment, but it also requires the central bank to have sufficient foreign currency reserves to defend the fixed rate. This is exciting. Because if they come out with a fixed rate we do not have to wait for them to gradually increase the value where we would initially have to go to the bank and exchange a little of our Dinar just to pay bills while we sit on the rest of it waiting for it to get to 3 dollars. So if they stick to this plan you all will wake up with a strong rate where you can exchange all of your IQD at the fixed price.The Forex Market, Ariel
- The Zim 2008-2009 printed Trillions [and Billion] Series aren’t FIAT money, they’re “Promissory Notes”.
- Each and every note says “Promise to pay the bearer on demand” [as seen above]. Therefore it is illegal in every country per UCC Law [Uniform Commercial Code] not to honor.”
- This means once Zimbabwe reinstate their new currency on the Forex Market, you will be able to redeem them at the new value.
- Same for Iraqi Dinar.
- Same for Vietnamese Dong.
- You cannot do anything with either currency until they are officially on the Forex.
- What country just announced they are ready to intervene into the Forex? Vietnam.
- What country also announced they are preparing to reintegration back on the Forex Market? Zimbabwe.
- This is where the rubber meets the road for all of us. So please understand this basic point of this entire process. Any demonitized paper currency in their country is to pave the way for new redesigned currency with better security features and a new modern application for new value added for the citizens in that particular country.
- Participating in the global forex market would allow for increased liquidity of the Zimbabwean dollar, making it easier for individuals and businesses to buy and sell the currency.
- A gold-backed currency could help stabilize the value of the Zimbabwean dollar, especially if the country maintains sufficient gold reserves and manages its monetary policy effectively. This stability could be further enhanced by participation in the forex market.
- A more stable and globally traded currency could make Zimbabwe a more attractive destination for foreign investment, which could help stimulate economic growth and development.
- Rejoining the forex market would make it easier for Zimbabwean businesses to engage in international trade, as they would have access to a more widely accepted currency for transactions.
- Participating in the global forex market would require Zimbabwe to adhere to international standards and best practices, which could help improve transparency and accountability in the country’s financial system.
- By having a presence in the forex market, Zimbabwe could potentially gain better access to global financial markets, making it easier to borrow funds and access other financial resources.
- This goes for all countries rejoining the foreign exchange markets with new gold backed currency. https://twitter.com/prolotario1/status/1785684677979775130?s=5
MILITIAMAN CC HIGHLIGHTS NOTES, 23 NOV
MILITIAMAN CC HIGHLIGHTS NOTES Summary Militia Man discusses recent developments in Iraq’s economy, including expectations for exchange rat...
-
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...
-
Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
-
Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...