The Iraqi government submitted, on Sunday, a request to the United Nations Security Council to reduce the mandate of the United Nations Mission in Iraq (UNAMI) with the aim of closing it permanently during May 2024.
The government spokesman for Al-Awadi said in a statement received by {Euphrates News}, “The Iraqi government submitted this request during the month of May 2023, at a request to the Security Council and the Secretary-General of the United Nations, to reduce the mandate of the United Nations Mission (UNAMI) and conduct an objective assessment of its work; in preparation for the end of its mission and closing it permanently, because the absence of the conditions for which this mission was established 21 years ago.”
He added that “as a result of the request of the Iraqi government, the Security Council formed the independent strategic review team, which conducted an independent evaluation of the UNAMI mission, in which it concluded that there is no need to continue its work due to the positive developments and important achievements achieved in Iraq and in various security, political, economic and social fields, and its regional and international relations.”
He continued, “Based on the report of the Independent Strategic Review Team and the conviction of the Government that it has shared with the States of the Security Council and the United Nations since last year, the Government has requested the termination of the work of the UNAMI mission by the end of 2025, which is considered a sufficient time during which the responsible closure can be achieved.”
Al-Awadi pointed out that “the government confirms here that the end of the work of the mission in Iraq came, in addition to the above, as a natural result of the development of the relationship between Iraq and the United Nations, and to deepen cooperation at various other levels.”
He added that “the Iraqi government hopes to issue a Security Council resolution at the end of this month that includes responding to the request of the Iraqi government and the recommendation of the independent UN team, and also organizes the follow-up of some files with an agreed mechanism, to ensure, also, the continuation of the work of international agencies operating in Iraq.”
If you go back and read articles after 7/1/23 you will see that Iraq is still under US/(UK) guardianship (receivership) ...There were calls then for the UN to lift this guardianship but [4/10/2024 Article "Our agency publishes the text of the request of the Prime Minister, Muhammad Shiaa Al-Sudani, to the Secretary-General of the United Nations, Antonio Guterres, to permanently end the work of the United Nations mission in Iraq."] may now be the first "Official" call that I have seen...The corrupt in the US do not want this to change.....The good news is that IMSO, their days are numbered...
Iraq's WTO Accession Package will likely not be submitted for adoption until MC14 which will be held in early 2026... It clearly was not submitted for adoption at MC13...I anticipate that by then we really won't care.
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Community Comment: "Iraq on May 9 ascends to FULL membership in the WTO" I hope you are correct regarding the WTO. However, the documentable facts and articles regarding this issue would say otherwise. Don't misunderstand, the documentable facts and articles are EXTREMELY positive. Iraq, under Sudani appears to be serious about becoming WTO members, opening the country to International trade, moving from a Rentier Economy to a Market Economy and finally implementing the Delete the Zeros Project.
Everyone should be excited even if it takes months more to accomplish.
Article: "Specialist: Floating the dinar is economic suicide"As Saleh was stating but only stronger wording.
Article: "Al-Ardawi: The Sudanese government seeks to liberalize the Iraqi dinar and stabilize the economy
" Quote: "The visit comes in a very heated situation and everyone is awaiting its outcomes, and the Sudanese carries...ideas and projects that move towards consolidating the relationship with the American side and transferring it from the process of guardianship to friendship...In a way that allows Iraq to assume its pivotal role in the region." As I have been stating...Iraq needs the US Guardianship to end!! (UN 1483)
Article quote: "Two Iraqi and American sources said that Prime Minister Muhammad Shiaa Al-Sudani will spend a week in the United States, including discussions with President Joe Biden, and a tour of 3 states." Will one State be Florida????Mar-a-Lago???
IMO UN resolution 1483 will have to be lifted to allow Iraq to be totally sovereign as it established the US and UK as "occupying forces"...This is in essence "Guardianship" or "Receivership"...Absent the lifting, the US has to give Iraq permission to do most anything Internationally including "currency reinstatement"...I am hopeful that internal control of the money structure is exclusively in the hands of the CBI so they can at least move to the RD/RV stage of their monetary reform...If not, the upcoming US visit of Sudani may very well be pivotal... Saleh...recently stated he was unsure of the status of 1483 according to news articles...
This is clearly what the article said... They are weighing changing the rate from 1,320 dinars per dollar to 1.32 dinars per dollar. This is clearly 76 cents to 1 IQD...Currently the rate is 1,320 IQD to 1 USD. Looking it at the other way, this is 0.0007575 USD to 1 IQD. If they drop 1 zero from the exchange rate: 132.0 IQD to 1 USD or 0.007575 USD to 1 IQD. If they drop 2 zeros: 13.2 IQD to 1 USD or 0.07575 USD to 1 IQD. If they drop 3 zeros: 1.32 IQD to 1 USD or .7575 USD to 1 IQD. Therefore, 1.32 IQD to 1 USD is 76 cents to each IQD
...What we want to see posted on the CBI website as to how many IQD are required to purchase 1 USD is 1.00 or less. If they post 3.22 IQD to 1 USD, this would mean 31 cents per 1 IQD.
We want them to post .31 IQD to 1 USD which is then 3.22 USD to 1 IQD. Realize, they post how many IQD it takes to purchase 1 of another currency.
Community Comment: "...The rate doesn't matter but "freedom of movement of capital" is important. That is Article 8 compliance." They cannot be Article 8 compliant if the country is functioning under a MCP. A MCP [Multiple Currency Practices] includes a parallel rate of greater than 2% of the official rate by IMF definition. Saleh said last year that the parallel rate is "REQUIRED" to be 2% or less of the official rate...This 2% or less needs to be maintained for a period of 90 days. The parallel rate is still around 14% difference.
Question: "I thought they met all the requirements [to join the WTO]?" All the articles say they have legislation that needs to be passed and the next meeting is in the "middle of the year.
Question: "When is Iraq supposed to be in the WTO?" Not before they pass needed legislation, eliminate the MCP [Multiple Currency Practices] and are recognized as having accepted IMF Article 8 obligations. Accession Committee next meeting with Iraq is planned for the "middle of the year".
Shafaq News/ Oil Minister Hayan Abdul Ghani said on Saturday that Iraq has made enough voluntary cuts in crude production, and will not agree to any future cuts taken by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, at its next meeting, scheduled to be held. On June 1 of next year.
Reuters reported that Abdul Ghani told reporters on the sidelines of the oil and gas licensing conference in Baghdad, that “Iraq will not agree to any renewals of production cuts at the next OPEC+ meeting.”
Iraq has repeatedly confirmed that it is committed to the voluntary cuts announced by OPEC+ since 2023, but it pumped its production quota by a cumulative amount of 602,000 barrels per day in the first three months of 2024, according to what OPEC+ said in a statement yesterday, Friday
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Iraq is looking forward to increasing its oil reserves to 160 billion barrels, with the launch of the fifth and sixth licenses, amid optimism that the issue of importing gas through its production locally will be resolved in the next five years, according to officials and economic analysts.
Iraq produces more than 4.5 million barrels of oil per day, and the sector’s imports represent more than 94% of the country’s domestic product, at a time when Iraq is the second largest country in burning natural gas in the world after Russia, with losses estimated by the government at about 6 billion dollars annually.
On Saturday morning, Prime Minister Muhammad Shiaa Al-Sudani launched the licenses for the fifth supplementary round and the entire sixth round, which includes a total of 29 projects for oil and gas exploratory fields and patches, distributed among 12 governorates.
It is hoped that these licensing rounds will add two million barrels of oil to national production, according to Iraqi Oil Minister Hayyan Abdul Ghani.
This [these new 1000 dinar fil notes] guarantees there is a change in the Iraq dinar exchange rate because if not there's no reason for these fils whether they be in coin form or paper form. It's illogical. There's not reason for it...These fils paper or coins and the exchange rate are not activated yet. They are all in the background waiting for when Sudani says it's time.
This [new green 1000 fil note] is not a "lower note"...it falls under the category of fils.
What does that mean? ...It takes 1,000 fils to make 1 dinar.What does that mean? It means the monetary reform is successful. It's brilliant! ...it is cheaper to print paper than it is to mint coins...They are not minting coins right now...these are called fils but they're in paper form...
Question "I'm new here...when this blessing comes would you suggest to take all of it at once or just a little bit?"
That's your prerogative. I cannot guide you. Yeah, it's a speculative investment but logic says check it out, see what the rate is, if you like it exchange what you got. If you think it's going to go up in value internationally on a float, exchange a little and hold on to some. You have to make that decision. I cannot tell you on a speculative investment.