"MONETARY REFORM... TOTAL SUCCESS!!!" BY FRANK26, 17 MAY

 KTFA

FRANK26:"MONETARY REFORM... TOTAL SUCCESS!!!"............F26

The Minister of Oil announces via “Baghdad Today”: Total has arrived in Iraq and we will stop burning gas urgently (video)

 

 5/15/2024

Baghdad

 Today, Wednesday (May 15, 2024), the Minister of Oil, Hayan Abdul-Ghani Al-Sawad, confirmed the ministry’s intention to implement strategic oil projects, while noting that the integrated southern Iraq project is environmental par excellence as it will end gas burning in five oil fields.

Al-Sawad said in an interview with “Baghdad Today” that “the French company Total has arrived in Iraq,” noting that “there is an expedited project for the company to urgently stop burning gas in current facilities.”

He added, "The agreement with (Total) stipulates the implementation of an accelerated project for gas investment within a period not exceeding one year," pointing out that "the Total project or the Iraq Integrated Project is an environmental project par excellence as it stops Gas burning in five oil fields with a capacity of 600 million cubic feet." and using it to generate electrical energy.” 

He continued, “There are two important projects, one of which is establishing an electrical station using solar energy with a capacity of 100 megawatts, which is considered one of the large stations in the region.”

He explained, “There is another project, which is the use of seawater, filtering it, and treating it to be used in the process of injecting oil reservoirs.”

It is noteworthy that the Iraqi Ministry of Oil signed, on July 10, 2023, a deferred agreement that includes four contracts with the French company Total, with a total value of $27 billion, to develop oil and gas projects in the country, including investment in associated gas with a capacity of 600 million standard cubic feet per day, which is within government projects to convert gas into electrical energy.

 

LINK

 

"RV UPDATE" BY PIMPY, 17 MAY

 Pimpy  

I said it a million times.  I'm saying the deletion of the zeros is a possibility.  I want the same thing you do.  I own Iraqi dinar.  I'd rather they keep the zeros on and change the exchange rate to $3.  I would love that.  Or even 1 to 1.  I want the same thing you do.  What I'm saying to you is you guys should understand that there's another possibility that's likely to happen.  That's all I'm saying...

Question: "Why are you investing in the Iraqi dinar?" 

 Because I think it's going to change in value and I can benefit from it.

 Let's hope it [ascension to full WTO member] happens quickly but it's not going to be done by [the end of] 2024.

There are a ton of reforms especially in the banking sector.  They're getting there but they're not 100% there yet as far as confidence in the currency.  Nobody has confidence in it besides those who are invested in it.  It's not that they have confidence in Iraqi dinar, they're hoping there's a big difference..

.There's years and years of history shows you Iraq constantly screws up and ends up back on square one.  You can't blame people for being negative. IMO Iraq has taken all the steps necessary to get there but they're not there yet.  Give it time...

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-pimpy-12-may.html

"IRAQI DINAR EXCHANGE RATE ECONOMIC STABILITY WITH REVALUATION/iraqi din...

"YES!!!... YES!!!... YES!!!... THE MONETARY REFORM SUCCESS STARTED WITH THE CBI & COMES TO THE GOI OF SUDANI!!!" BY FRANK26, 17 MAY

 KTFA

FRANK26: "YES!!!... YES!!!... YES!!!... THE MONETARY REFORM SUCCESS STARTED WITH THE CBI & COMES TO THE GOI OF SUDANI!!!"...........F26

The reform process will begin with the government banking sector, which represents 85% - Sudanese Advisor

5/15/2024

Baghdad –

Mazhar Saleh, advisor to the Prime Minister for Financial Affairs, said today, Wednesday, that the government banking sector represents 85% of banking work in Iraq, and there is a reform process that will begin from it, indicating that the sanctions that affected the banks are an opportunity for reform.

Saleh confirmed in a statement to the official agency, followed by the 964 Network , that “Prime Minister Muhammad Shiaa Al-Sudani is keen to protect national capital, in addition to the fact that banking institutions need reform,” indicating that “what happened in depriving some banks of foreign currency is an opportunity to restore Structuring and organizing it.”

He added, “There is a program to reform the banking sector by starting with the government sector because the government banking sector dominates 85 percent of banking work and the rest of the small emerging markets, although their capital constitutes 78 percent of the banking system’s capital, but they need to be reorganized and restructured to transform into Correct market institutions integrate with the global economic system and have a role in finance and economic development.”

He pointed out that “there is a reform process in Iraq that begins with the government banking sector and then the private sector,” pointing out that “the injustice that happened to the banks is an opportunity for reform.”

LINK

"RV UPDATE" BY FRANK26, 17 MAY

 Frank26 

 Community Comment:  "I Remember you stated a long time ago that the float will be quick." 

 Yeah, IMO the hunger for the Iraqi dinar is great and the investors are almost endless.  I believe when it floats it'll be like getting gunpowder on fire.  It'll move fast...Within 3 months you're going to see a significant change.  Within 6 months it may be done.  I hope that within a year they'll cap it...IMO $3.86 to $4.25.

   The CBI desperately wants these three zero notes back...If you exchange your dinars at an American  bank those dinars go to our federal reserves and boy we will capitalize on it because it'll be a different rate but if we go to a  private [Iraqi] bank those dinars go to the CBI. That's what the CBI wants so badly.  Wait till you find out how many banks they  got!  They're smart.  They're covering all their bases.

"CBI ANNOUNCED THE HIGH DENOMINATION NOTES WITH NEW EXCHANGE RATE"/iraqi...

"SUDANI'S GOV REVIEWS THE BUDGET, NOT PARLIAMENT HA HA HA!!!" BY FRANK26, 17 MAY

 KTFA

FRANK26: "SUDANI'S GOV REVIEWS THE BUDGET, NOT PARLIAMENT HA HA HA!!!"...........F26

A government meeting to review the 2024 budget schedules

5/15/2024

Baghdad
 

Today, Wednesday, the Minister of Planning, Muhammad Ali Tamim, chaired a ministerial meeting to review the schedules of the federal general budget for the year 2024.

A statement from the ministry received by “Al-Iqtisad News” stated, “Today, the Minister of Planning, Muhammad Ali Tamim, chaired a meeting of the committee concerned with reviewing the schedules of the federal general budget for the year 2024, in the presence of the Minister of Oil, Hayan Abdul-Ghani, the Minister of Construction, Housing, and Municipalities, Benkin Rikani, the Minister of Electricity, Ziad Ali Fadel, and the Prime Minister.” The Office of Financial Supervision, Ammar Sobhi, the Prime Minister’s advisors for legal, economic and strategic affairs, the head of the legal department in the General Secretariat of the Council of Ministers, and also a delegation from the Kurdistan Regional Government, which included the Minister of Finance, the head of the Office of the Regional Council, the Secretariat of the Council of Ministers and the head of the Coordination and Follow-up Department.” .

He added, "During the meeting, a number of files were discussed on the agenda, including a discussion of the transfer mechanism for the Kurdistan Regional Government's allocations within the budget tables, especially with regard to employee compensation, social care, and regional government revenues, and the mechanism for handing them over to the federal government according to what was stated in the Federal Court's decision and the law." Financial management, and the state’s general budget law.” 

He continued, "The meeting also discussed the discussion of maximizing revenues to reduce the percentage of the deficit contained in the general budget by creating legal texts to include electricity sales and local oil sales as revenues in the budget tables."

LINK