IMPORTANT IRAQ NEWS: SUDANESE: MEMORANDUMS OF UNDERSTANDING SIGNED DURING WASHINGTON’S VISIT ARE BEING IMPLEMENTED ON THE GROUND BY MNT GOAT, 18 MAY

SUDANESE: MEMORANDUMS OF UNDERSTANDING SIGNED DURING WASHINGTON’S VISIT ARE BEING IMPLEMENTED ON THE GROUND

DURING A MEETING WITH BLINKEN’S ASSISTANT

Baghdad –  

Prime Minister Mohamed Shia al-Sudani said on Wednesday that the memorandums of understanding signed with the United States during his visit to Washington last month are being implemented on the ground, during a meeting with US State Department Assistant for Energy Jeffrey Payte.

Prime Minister Mohamed Shia Al-Sudani received, on Wednesday, US Assistant Secretary of State for Energy Resources, Jeffrey Payte, in the presence of the US Ambassador to Iraq, where they reviewed the most prominent files of cooperation in the field of energy, in all its forms, and ways to develop it, in a way that contributes to achieving common interests.

During the meeting, His Excellency stressed the government’s keenness to implement its executive approach within the axis of achieving energy self-sufficiency, in the fields of exploiting natural and associated gas produced locally, generating electricity, providing oil derivatives, and producing chemical fertilizers and petrochemicals, referring to the memorandums of understanding signed during his visit to the United States of America last April, which are being implemented on the ground.

Mr. Al-Sudani referred to the government’s efforts and steps in the field of economic and financial reform, especially in the fields of tax, customs and the banking sector, and completing the elements of the ideal investment environment, calling on American companies to work and invest in Iraq.

For his part, Mr. Byte praised the efforts of the Iraqi government in developing the energy sector, and referred to the joint statement of the Prime Minister and US President Joseph Biden, which represents a roadmap and framework for work and fruitful cooperation, stressing the desire of American companies to invest and expand their activities inside Iraq.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

"RV UPDATE" BY CLARE, 18 MAY

 Clare 

 Article: "IMF Executive Board Concludes 2024 Article IV Consultation with Iraq"

 Article: "Iraq increases its possession of gold by more than three tons, bringing the total to 145,661"  Quote "Iraq's gold reserves witnessed a noticeable increase during the month of February 2024 , as International Monetary Fund data showed that Iraq has increased its possession of the precious metal by 3,079 tons, bringing the total to 145,661 tons."

Article Quote:  "The Central Bank of Iraq's cancellation of the currency {auction} window at the end of 2024"  

WE KNOW THIS ... SUDANI & ALAQ HAVE ALREADY AGREED WITH DC ON THIS!  IT IS TRUE... THEY (ARE) AND WILL BE ASSET BACKED...WILL FLOAT AND THERE WILL BE A MANAGED CAP...

Iraqi Dinar | Iraq's IQD Must Return to FOREX for True Progress - Insigh...

"IMPORTANT IRAQ NEWS: AFTER IMPLEMENTING ELECTRONIC SYSTEMS, CUSTOMS ANNOUNCES A “HISTORIC” INCREASE IN ITS REVENUES" BY MNT GOAT, 17 MAY

AFTER IMPLEMENTING ELECTRONIC SYSTEMS, CUSTOMS ANNOUNCES A “HISTORIC” INCREASE IN ITS REVENUES

The General Authority of Customs announced today, Tuesday, achieving what it described as a historic increase in its revenue rate during the first quarter of this year, while it expected a doubling of revenues once the automation project is completed.

The head of the General Authority for Customs, Hassan Al-Ugaili, told the Iraqi News Agency (INA): “During the years 2022 and 2023, the General Authority for Customs achieved an increase in the percentage of its revenues, and last year it reached 28%.”

He added, “In the first quarter of this year, the Authority achieved an increase of 120% over the first quarter of last year, as the first quarter of this year is the highest revenue since the founding of the Customs.”

He continued, “The increase came as a result of a set of measures by the authority through simplifying procedures, in addition to monitoring and implementing some electronic systems,” pointing out that “the authority is in the process of generalizing the application of electronic systems in all ports of the Iraqi state, and we hope in the middle of next year to end automation in all Customs centers. 

He pointed out that “the authority is looking forward to achieving an increase in revenues this year to more than 100% over the previous year,” expecting that “if automation is completed and fully disseminated, the increase may reach three times.”

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

"RV UPDATE" BY KAPERONI, 18 MAY

  Kaperoni   

Article:   "IMF Executive Board Concludes 2024 Article IV Consultation with Iraq" 

 My preliminary review are the Article IV Consultation clearly emphasizes the urgency to diversify their economy in raising non-oil revenue...There's also significant discussion encouraging Iraq to continue to develop their banking system and remove excess liquidity . 

 These comments from the IMF are obviously meant to encourage them that the opportunity is now to develop and accelerate economic growth...as well as to take significant steps forward with their banking system engaging with banks outside of Iraq. 

 From these documents, it is very clear that Iraq still has a lot of work to do. And I do not see in the near future any change in monetary policy until progress is made.  Again, creating the conditions for economic  growth appears to be the focus.  

Iraqi Dinar Breaking News - Iraq's PM Reveals Silver and Gold Coins - Mo...

"IRAQ: ARTICLE IV 2024 CONSULTATION : STAFF REPORT" BY GODILOCKS, 18 MAY

 GOLDILOCKS

Iraq: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iraq  

Domestic stability has improved since the new government took office in October 2022. This has facilitated the passage of Iraq’s first three-year budget, which entailed a large fiscal expansion starting in 2023. The non-oil economy has rebounded strongly in 2023 after stalling in 2022 and was largely unaffected by the ongoing conflict in the region.

Nonetheless, Iraq remains highly vulnerable to oil price fluctuations, and private sector activity is hindered by the large state footprint—including as an employer of first resort—corruption, red tape, underdeveloped infrastructure, and poor access to credit.    IMF

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DTCC explores posting fund NAV data on blockchain with JPM, BNY Mellon, Chainlink - Ledger Insights

The Depository Trust and Clearing Corporation  DTCC just made public the result of a proof of concept (PoC) test exploring the posting of tokenized funds by setting net asset values (NAV) data onto a blockchain.

In order to reach a real value on an asset, the value of an asset is reached by deducting the asset's  liabilities from the market value of all of its shares. Then, you divide that number by the number of issued shares.

This is what happens in a reset when values across the board on the market have been inflated beyond their actual worth.

Until these calculations are completed across the board of the markets, it's hard to say we are going to have a crash or a rise in values of these new assets that are being tokenized and supported by gold and other commodities.

Forex will go into these equations as well finding representations of a real value for currencies giving them a Level Playing Field in the purchasing power of Global currencies around the world. This will give us a Global Currency Reset.

These correlated calculations will link themselves to the banking system causing the reformation of new values inside our new digital asset-based trading system.

This is the credit valuation adjustment we spoke of about a month ago that was going to start taking place. We are in the testing phase, but these assets will soon be interfaced onto the QFS reflecting new values in the new Financial System.

"The ten participants in the Smart NAV trial were American Century Investments, BNY Mellon, Edward Jones, Franklin Templeton, Invesco, JP Morgan, MFS Investment Management, Mid Atlantic Trust d/b/a American Trust Custody, State Street and U.S. Bank."      Ledger Insights
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