FRANK26: "AND... WITHOUT PARLIAMENT INTERFERING!!!".....F26
The Council of Ministers holds an extraordinary session to discuss the budget schedules
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5/19/2024
The Council of Ministers held an extraordinary session headed by Prime Minister Muhammad Shiaa Al-Sudani to discuss the schedules of the federal general budget for the year 2024.
A member of the Finance Committee, Moeen Al-Kadhimi, said in a press statement that “the Council of Ministers will vote today on the budget schedules, and then they will be sent to Parliament within a week,” expecting that “Parliament will take a month to pass the 2024 budget schedules.”
He stressed that "bonuses and promotions will be added, and this matter has nothing to do with the budget tables, and the Ministry of Finance must add these bonuses."
Article: "Specialists: Economic integration and job opportunities await development" Integration with the global economy, diversifying resources is the only way for Iraq to move forward. Finally we're beginning to see such steps.
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.
FRANK26: "THE CENTRAL BANK TEACHES THE MONETARY REFORM TO THE IRAQI CITIZENS."....F26
The Central Bank of Iraq strengthens the banking sector with specialized courses
May 19, 2024
The Center for Banking Studies at the Central Bank of Iraq, in cooperation with the German Organization for International Cooperation (GIZ) and the project to strengthen public financial management and financial markets in Iraq (FFM), held a celebration on the occasion of the launch of the specialized certificate program accredited by the University of Frankfurt and funded by the European Union and the German government. The program, which targets banking sector employees to develop their practical capabilities, includes several certificates, including a certified credit analyst and a risk management expert.
The Director of the Center for Banking Studies at the Central Bank of Iraq, Dr. Haider Hussein Ahmed, on the sidelines of the celebration, said that the bank, in partnership with the relevant authorities, seeks to provide the best training programs for banking sector employees to raise and develop their practical capabilities and keep pace with technological and cognitive progress. It is noteworthy that the training program for specialized certificates will begin in June 2024 and end in October of the same year.
Central Bank of Iraq Information Office May 19, 2024
Folks just remember I am telling you that Iraq already has a value to the dinar way above the 1/6 of a penny. They do not have to develop the private sector to raise the dinar, the economy or...export more products...
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Yes, we all want to know what is the holdup of the RV and I say there is no holdup, only time...The process must just play out. The plan of Dr Shabibi must be executed and there are many stumbling blocks and deviations along the way. But Iraq must and does, always come back to the 2011 Dr Shabibi plan... I know through the past articles and my CBI contact that the reinstatement will happen and has to happen if Iraq is to regain their national sovereignty.
Article: "THE DOLLAR IS REELING FROM A FATAL BLOW AND THERE ARE FEARS OF A COLLAPSE OF THE DINAR" ...let me say with 1000% certainty the dinar is NOT going to collapse...
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!
FRANK26: "THE CBI MONITORS THE BACKBONE OF THE NEW NATIONAL CURRENCY"........F26
A government directive on the need to expedite the completion of requirements for opening gold testing units
5/17/2024
Baghdad
Deputy Prime Minister and Minister of Planning, Muhammad Ali Tamim, directed today, Thursday, the need to expedite the completion of the requirements for opening gold inspection units.
A statement from the Ministry of Planning, received by Al-Eqtisad News, stated that “Deputy Prime Minister - Minister of Planning, Muhammad Ali Tamim, chaired a meeting that included the two undersecretaries of the ministry, the heads of the Statistics Authority, the Central Agency for Standardization and Quality Control, and a number of general directors in the ministry, during which the measures taken by Before the Central Organization for Standardization and Quality Control to complete the requirements for opening units to examine gold and precious jewelry at Iraqi airports.
He continued, "The meeting also witnessed a discussion of the Ministry of Planning's procedures for establishing the unified electronic platform for announcing tenders for all government agencies, in accordance with the Iraqi Investment Law."
The Minister directed “the necessity of expediting the completion of these requirements and starting the examination units with their work as soon as possible, due to the strength that gold represents for the national economy.”
For his part, the head of the Central Agency for Standardization and Quality Control, Hussein Ali Daoud, reviewed “the measures taken in this field,” indicating that “an invitation was sent to a number of specialized international companies to provide the latest inspection devices, pointing out that the procedures are witnessing progress in their course.”
