On Sunday, the US Ambassador to Baghdad, Elena Romanowski, praised Baghdad’s efforts to make Iraq an attractive environment for foreign investors.
Romanowski said, in her blog post on the “X” platform: “A fruitful meeting with the economic advisors of Prime Minister Muhammad Shiaa Al-Sudani, to discuss increasing international cooperation in modernizing the Iraqi economy, supported by the efforts made by the Prime Minister’s team to make Iraq an attractive environment for foreign investors.”
She added: “Which leads to providing better job opportunities for all Iraqis.”
...the IQD must be put back on FOREX for Iraq to progress to the desired goals as they themselves proclaim they want to accomplish...know that progress is moving along and much more quickly now...Oh…just wait until Iraq gets back on FOREX…WOW, things are really going to explode.
Can you see just how close Iraq is to fulling Al-Sudani’s promise of making the dinar a proud national currency once again. Also remember too that he did say it “was” valued over a dollar already...
Article: IRAQ TALKS ABOUT PRODUCING ONE MILLION LITERS OF GASOLINE DAILY
Quote: “increase refining capacity production rates and improve production in national refineries to reach self-sufficiency and gradually shift to exporting them to global markets..." Well…well…it's about time that Iraq got these refineries up and running. Lots of articles about this effort over the last ten years. Did I hear of another export product here?
I feel we have been in a critical period of the currency reform program since January of last year 2023.
Now we are in a “vital” period. Like a game of chess, we are now in a waiting mode for the Central Bank to make their next move and rollout the second-rate change in-country to just over a dollar, that we were told is coming.
Since they told us they now control the parallel “black” market, and that negotiations were successful in lifting sanctions on many Iraqi banks.
I feel we have been in a critical period of the currency reform program since January of last year 2023. Now we are in a “vital” period. Like a game of chess, we are now in a waiting mode for the Central Bank to make their next move and rollout the second-rate change in-country to just over a dollar, that we were told is coming. Since they told us they now control the parallel “black” market, and that negotiations were successful in lifting sanctions on many Iraqi banks.
In what they have already accomplished just in the last 16 months, it would be silly to turn back now. Amazing progress in such a short period of time compared to 30 years.
They have come further than ever before. I say this not for hype or for the sake of being overzealous. Instead, I stick to the FACTS of what the news has been telling us recently and what my CBI contact has been telling us...Iraq has kicked the proverbial can down the road long enough and it is time...time to go global...Iraq will not survive unless they do something BIG with their currency soon and I mean very soon!
The Presidency of the House of Representatives decided to hold a session next Saturday to elect the Speaker of Parliament.
It is noteworthy that on January 13, the House of Representatives held an extraordinary session to choose the new Speaker of the House of Representatives, and the first round of voting ended with the victory of the Shaalan Al-Karim Party with 152 votes out of 314 votes, and was succeeded by MP Salem Al-Issawi with 97 votes, MP Mahmoud Al-Mashahani with 48 votes, MP Amer Abdul Jabbar with 6 votes, and MP Talal Al-Zubai with one vote, but word ary aters were insiden the Council Chamber, which forced the Presidency of the Council to adjourn the session until further notice and no further session was held until the preparation of this report.
On April 1, the Federal Supreme Court last dismissed a lawsuit to cancel a session of parliament, which was intended to elect a new president of the council, and it was marred by much controversy. On the 17th of last month, Shaalan Al-Qarim announced his withdrawal from the nomination for the presidency of parliament and his independence from all blocs and political parties under the dome of the council, including his alliance. The deadline for the coordination framework of the Sunni political blocs to resolve their candidate for the post expired on Monday and if they do not agree, he will proceed with a session to elect the president.
Forgive me that I jumped the gun and told you, hey this represent the lower denoms [fils] in paper form [it was a 5000 note]...The colors were wrong...The color is what threw us off. I apologize...What we taught was 100% true [though]...The CBI is teaching the Iraqi citizens about lower notes...coins...They're also teaching about fils, the coins, in paper form.
Question: "Do you think the rate will be on Forex
?" Yeah! The Forex will be one of the very first to receive it.
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.
Shafaq News / Member of the Parliamentary Oil and Gas Committee, Alaa Al-Huidari, revealed on Tuesday the date of final ending the gas import file in Iraq.
Al-Haidari told Shafaq News that “the sixth round of licenses announced by the Ministry of Oil are fields and exploratory patters that will contribute to increasing the quantities of natural gas extraction and self-sufficiency in the coming years, as Iraq imports gas to operate the electric stations, which causes the budget to be overward by about $5 billion dollars in gas imports annually.”
He explained that “the licensing rounds announced include all gas fields from the south to northern Iraq, and therefore Iraq will reach the stage of self-sufficiency of gas extracted from local rights by 2027 and complete the import file.”
Iraq is seeking billions of dollars in investments to develop the oil and gas sector as it looks to increase domestic production of petrochemicals and stop gas imports from neighboring Iran that are currently key to energy production.
More than 20 companies qualified for the licensing round, including European, Chinese, Arab and Iraqi groups.
Chinese companies won contracts to excavate five Iraqi oil and gas fields last Saturday in a licensing round aimed primarily at increasing gas production for domestic use.
The gas expected to be obtained from the current licensing round is equivalent to 200% of the amount of gas imported by Iraq from Iran, which reaches 1700 million cubic meters per day, and the quantities of gas expected to be produced from this round will be about 800 million mion standard cubic meters per day.