Iraq Has The Tenth Worst Economic Growth In The Last 5 Years
May 10, 2024 Follow-up/National News Center Iraq ranked highly globally among the countries with the least economic growth during the last 5 years, while poor economic growth was concentrated in the countries of Africa and the Middle East due to Corona and then the conflicts that have existed so far.
Iraq ranked 10th globally out of 190 countries around the world, as the tenth worst country in terms of economic growth during the years between 2020 and 2024.
Iraq's economic growth during these last five years
reached negative 0.8,
ranking it tenth globally, and the
third worst Arab economic growth after Sudan and Yemen.
Sudan came in first place as the worst country in terms of economic growth between 2020 and 2024, reaching negative 5.6%.
On the contrary, Albania ranked last on the list of countries with poor economic growth, which makes it first in the world in terms of economic growth during 2020 to 2024, with a growth rate of 3.3%, according to “Seaworld.” https://nnciraq.com/255477/
What Bruce said about the speech about the speech he doesn’t know – so intel a bit disconcerting at the rally there was an attempt made from a BH Secret Service agent posing – luckily the real SS were able to get him and take him off – this recinded the green light from the military temporarily so now we are back resetting and was supposed to happen late this afternoon or tonight and it might have had to do with the presentation – so we don’t know why that speech hasn’t happened yet.
So otherwise we were set to go today before lunch and didn’t happen - so what is the plan and the latest thing is from the US Space Force and his or her contacts indicated that our window for notifications would be between midnight and tomorrow - on the 15th.
- So maybe tomorrow or CW’s Thursday – but Bruce just keeps mentioning it and it could do but of course we need those numbers to come in via email and those three green GO Lights and then we can move forward again.
I think that’s really what you all want to know and this came in from Iraq who saw that there was a rate of over 8 and was an in country rate and the Dong is just below rate in country in Iraq and we know the Dinar was not traded on Forex on Sunday - we found that it didn’t go on Forex but it did go on the CBI platform and showed up there
- Sunday President Sudani made two of three announcements and then the third one Monday – now we are waiting on President Trump and might be about the USN and have an asset backed currency. And yesterday the QFS is now fully connected and not just mirrored. As of yesterday ALL our accounts are Live with the QFS and it’s very much of interest to us and we are all lined up and we were meant to get notified today and didn’t happen and also was thought that the trigger might have been Trumps speech tonight
- but the channels Bruce was given he’s not been able to see what has happened to President Trump. Will we have another call Thursday – we will have to wait and see – we know we are super close and banks all trained down to the tellers and now they just need to throw the switch so that we can make our appointments and hopefully we see this between tonight and tomorrow now- So let’s see what transpires tomorrow. Bruce praying out the call
– please pray with him and keep your own heartfelt and sincere prayers being said until this Heavenly Blessings is fully manifest into ALL our Lives and the Whole of Humanity. My Love to Each and Every single one of you – pay close attention to tomorrow and pray that is our day. Lots of Love Gem.
Arab Banks Sweep The Dollar Platform.. Washington Sanctions Freeze The Iraqi Government And The Central Bank Is Content With Silence
May 14 20:03 Information/Private..
The false and twisted policy of the United States of America towards Iraq is being exposed day after day in many cases, including the dollar crisis that Washington created to impose dictates and blackmail the government publicly after punishing Iraqi banks in two installments and imposing strict measures in exchange for obtaining the dollar from the electronic platform.
This made the opportunity available for Arab banks to invade the platform and dominate the sale of the dollar with clear laxity and in violation of the law from the Central Bank, which abandoned the matter of lifting sanctions on Iraqi banks and continued to grant licenses to Jordanian, Emirati, Gulf and foreign banks, which undermined the work of the local.
*Central violations
Speaking about this file, Al-Fath Alliance member Ali Al-Zubaidi criticizes the Central Bank’s controls for granting licenses to foreign and Arab banks to operate in the Iraqi banking sector, while he stressed that continuing to grant the dollar at reduced prices to these banks amounts to wasting the country’s share of the dollar.
Al-Zubaidi said in an interview with the Maalouma Agency, “Granting licenses to these banks should be in the field of investment, construction, loans, and initiatives, and not working on the electronic platform,” noting that
“these banks have undermined the work of Iraqi banks to a very large extent.”
He continues, "The entry of Jordanian, Emirati, and Gulf Arab banks into the dollar selling platform will make them compete directly with Iraqi banks," calling on "the Central Bank to reconsider these licenses or limit the points they offer in general." Al-Zubaidi continues his speech:
“These banks’ possession of the dollar must be ended by buying the dollar at reduced prices and selling it at a higher price,” pointing out that
“there is a clear error in the Central Bank’s controls in granting licenses to foreign and Arab banks to work in the Iraqi banking sector.”
*US sanctions
In addition, economic expert Nabil Al-Marsoumi confirms that the US Federal Reserve’s sanctions revealed the falsity of the strict US administration on Iraqi banks only, while he stressed that
the current central bank law has made Arab banks dominate Iraqi banks.
Al-Marsoumi said in an interview with the Maalouma Agency,
“The American ambassador contradicts the statements by talking about the development of the Iraqi banking system at a time when the Federal Reserve continues to issue sanctions,” noting that
“the recent sanctions reduced the number of Iraqi banks to only five banks on the electronic platform.” He continues,
"Arab capital opened banks with Iraqi names and management in order to enter the currency auction and the electronic platform," adding that
"the issue of granting licenses requires reconsideration of Arab and foreign investments within the country." Al-Marsoumi continues his speech:
“The basic law stipulates that the percentage of Arab banks is not allowed to increase by more than 49%,
but the current Central Bank law allows Arab banks a percentage of up to more than 80%,” adding that
“the current Central Bank law has made Arab banks dominate the Iraqi banks.
*Bank profits
For its part, an informed source reveals that Jordanian, Kuwaiti, and Qatari banks operating in Iraq achieved profits estimated at 200 billion dinars in just three months, while he confirmed that the
Kuwaiti-owned Bank of Baghdad recorded profits worth 88.3 billion dinars, while the
National Bank (of Jordan) recorded profits worth 88.3 billion dinars. Its profits amounted to 84.4 billion dinars.
The source, who preferred to remain anonymous, said in an interview with the Maalouma Agency,
“During the same period, Al-Mansour Bank, which belongs to Qatar, achieved profits amounting to 27 billion dinars,” indicating that
“the error began with granting licenses to Arab banks to work in... Iraqi Financial Market. He added,
"The Central Bank's policy will contribute to losing control over the banking system, which will remain in the hands of the United States and Jordanian banks," warning against "exploiting this file politically in the future."
Many political and popular parties criticized the courtesy shown by the Iraqi governments towards the Jordanian, Emirati and Gulf banks and granting them privileges, facilities and illegal licenses, in light of their hostile policy towards the country on many issues, as well as their support for the usurping Zionist entity against the Palestinian people who have reached... Use of airports, equipment and military aircraft. Ended 25/J
💢Q & A - Redemption Centers - To Go or Not To Go - that is the question.
💢 Member: Ginger, I heard on the recent SOW call it seemed they were not recommending redemption centers to exchange! Putting out fear! Why would they do this? Plus this goes against Texas Snake too. 😔😞😕
💢Ginger: That's a sheer disappointment - what we've observed over there. Sad falling out. My sympathies to the team.
In my opinion, it's a completely ridiculous idea to avoid the redemption center experience if you hold Zim Bond Notes. This has got to be making the dwindling, remaining Black Hats laugh their tails off. Why? ⬇️
Because They really would love to neuter and wreck the hopes and dreams of God's Humanitarians!!
Remember, some top tier banks will also be upgraded AS contracted with the official US Treasury and they will be official redemption centers! I've taught this all along! So rhetorical question -- what the heck is the big deal then? (Directed but to the 'fear mongers' - bc that's nothing more than they are acting like. Ill-advised ill-informed, misguided fear mongering goofballs. There. I said it.)
I've just got to throw this out there for context because it's a perfect example and makes a valid point to illustrate. Once upon a time, Frank used to beat the same drum, insisting "just go to your bank the RC idea is a bad idea" - until months back one of these in the know persons involved AT a superior bank level explained to him verbatim,
that basic "regular banks" might not be able to accommodate this type of exchange scenario. But there will be certain ones - some top tier banks - which will be more equipped. (Our folks here in GLL know this means there will be adequate currency verification capability on site with De La Rue machine etc and they'll be trained to handle larger exchanges and redemptions including bond notes!)
Well Frank came on one day as if he invented the idea and as if he was first to bring it to the RV community. With great theatrics and self adulation, he said, "We, in our community, will be best helped at an official Exchange Center which works with the US Treasury ".
Upon hearing him, I literally laughed and said out loud, "Duh, Frank. That's exactly what a Redemption Center is! That's exactly what I've heard you poo pooing for years." 🙄🤪😆😂 I'm not bashing anyone - just relaying facts. Giving you my observation. Folks here know I appreciate Frank very much - as I do all RV helpers. But face it - He is a perfect example, you see, of someone who didn't believe in the "Redemption Center Concept" until, well, HE DID! You'll notice,
he just cleverly changed the name, emphasizing "official Exchange Centers" (because his wheelhouse is only Iraq IQD). We can't "exchange" any Zim. We must Redeem a bond note. THIS is why we call them Redemption Centers because they can handle it all - foreign currency exchange AND bond redemptions together at one appointment. The point is, Frank thought he delivered such an innovative, novel idea, and there's some of us who've been saying this very thing all along - for many years. 🤦😑
I hope this helps. I went into greater detail bc I know we have really new folks following here, too, who need more information to build their solid foundation. And that's what our group is kinda known for.
Happy Campers, do not be derailed or discouraged by what's going on over in the other camp. I personally want to Thank TS for his dedicated service to the community for years. And Frank, for that matter. He's helped a lot of people and we all have our own blind spots -
not one of us is perfect. This is the entire reason I explain why it's so super important to Observe but don't ABSORB. Take what good you can from this person/group and discard the rest. Ask God for guidance to learn and know the TRUTH and get that settled in your heart - know what YOU believe to be the Truth and why you believe it - then you'll recognize misinformation for what it is when it surfaces.
The Association Of Private Banks Praises The Iraqi Central Bank’s Approach To Establishing Digital Banks
Expenses Economy News – Baghdad The Executive Director of the Iraqi Private Banks Association, Ali Tariq, praised the Central Bank’s approach to establishing digital banks to keep pace with the great development in the global banking sector.
Tariq said in an interview with Al-Iqtisad News,
“The world is moving towards the digitization of banking services, and
Iraq has begun its first steps in establishing digital banks, as
until now there is a digital bank licensed inside Iraq, and
it provides its services normally to the public.” He pointed out that "the
Central Bank of Iraq issued instructions to license banks, which
set their number at a rate not exceeding 10% of the total banks operating inside the country, with
a capital of 100 billion dinars, with traditional banks participating at a rate of 30%."
He added, "Digital banks are similar to traditional banks, but
they differ in that they do not have branches, and
most of their services are via mobile phones," noting that the
size of central banks in the world has increased significantly and has reached more than 500 digital banks. Tariq noted that
they are keeping pace with the development taking place in the banking sector.”