Monday, May 27, 2024
Sunday, May 26, 2024
The initiatives of the Iraqi Central Bank for housing lending amount to 11 trillion dinars, 27 MAY
The initiatives of the Iraqi Central Bank for housing lending amount to 11 trillion dinars
Baghdad – Mawazine News
The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced today, Saturday, that the bank’s initiatives for housing lending have reached about 11 trillion dinars.
Al-Alaq said in a statement received by Mawazine News, that “there is an urgent need today to stimulate and diversify the Iraqi economy,” stressing that “the initiatives of the Central Bank of Iraq for housing lending launched through the Real Estate Bank and the Iraqi Housing Fund reached about (11) trillion dinars.”
Al-Alaq stressed the need to expand the base of financial inclusion in Iraqi society, especially the expansion of the activities of small and medium-sized companies, which are the backbone of the economy, pointing out that “the employment of labor is of interest and focus of the Central Bank and the continuation of its initiatives for small and medium enterprises, which will culminate in the launch of the Riyad Bank supported by the Central Bank of Iraq and the contribution of civil banks.”
He pointed out that “the development and implementation of the national lending strategy for the years 2024-2029 requires cooperation between a wide number of relevant and particing interest, to achieve the desired goal.”
"RV UPDATE" BY MARKZ, 27 MAY
MarkZ
[via PDK]
did hear some interesting things from military contacts. One in particular kinda surprised me overnight...don’t panic because they do their best to cloud the timing...He said “Do not worry- it will be before July 4th.” We will have it all before July 4th. Actually a couple military contacts gave me that same time frame. I still have great hopes for sooner...it is interesting they have plans to have it completed by July 4th…For all we know it could happen tomorrow…nobody knows the timing.
Out of Iraq – hearing we are supposed to be getting news on Sunday that has to do with the budget but since they have already passed it- does this mean we are getting a rate? Or which projects were executed or started? I do not know.
I am seeing rates of somewhere between $3.81 to $3.91 from a number of contractors working in Iraq. They are working on infrastructure - everything from hospitals to power grid to roads etc... And I am still thinking it will be $2 something on the dong. I hope I’m wrong and my contacts are right and it’s closer to the $3 mark.
PM discusses timing with Guterres of ending UNAMI mission, 27 MAY
PM discusses timing with Guterres of ending UNAMI mission
Prime Minister Mohamed Shiaa Al-Sudani discussed with the Secretary-General of the United Nations Antonio Guterres on Sunday the timing of ending the work of the UNAMI mission, while the Prime Minister reiterated the need for major powers and international organizations to carry out their humanitarian, moral and legal duty to stop the aggression on Gaza.
The Information Office of the Prime Minister said to the Iraqi News Agency (Waa): “On Sunday, Prime Minister Mohammed Shia Al-Sudani received a phone call from the Secretary-General of the United Nations Antonio Guterres,” noting that “the relationship between Iraq and the international organization was discussed, and aspects of cooperation in various fields and programs, especially those related to facing climate challenges and reducing their effects, and the tasks of promoting and managing water.”
He added that “the communication touched on Iraq’s message regarding the timing of the termination of the work of the United Nations Assistance Mission for Iraq/UNAMI, the timing of reducing the levels of staff in the mission, and ways of bilateral coordination in this track.”
During the call, the Prime Minister expressed “the government’s appreciation for the efforts of the United Nations and its mission in Iraq,” praising “the programs and contributions made by the international organization during various stages, and keeping abreast of the challenges faced by our Iraqi people at various levels, which provided assistance to our people in the path of democratic construction, reconstruction and development, and recovery from the effects of terrorism and dictatorship.”
The telephone call witnessed the discussion of the situation in Gaza, and the results of the continuation of aggression against unarmed civilians facing the crime of genocide, as the Prime Minister of the Secretary-General reiterated “the need for major powers and international organizations to carry out their humanitarian, moral and legal duty to stop the aggression, protect our Palestinian people and guarantee their historical rights. ”
"RV UPDATE" BY MILITIAMAN, 27 MAY
Militia Man
If they change the value of their currency they're going to have more surpluses...The oil price is about $70 in the 2023 budget. That hasn't changed for '24 or '25 because that's a tripartite budget. They got a surplus. Oil is somewhere around $80. It's been as high as $91ish. The expectations of oil is to be somewhere in the neighborhood of $80/$90 and they even talk about $100/barrel...Iraq is going to be sitting pretty good...They have phosphates...sulfur...natural gas...Those non-oil revenue streams...taxes and tariffs are going to come online...Iraq has a good foundation for Alaq to do what he's supposed to do.
Iraq is moving forward. They've got huge reserves...increased their gold, they're going to have the private sector, their stock exchange is going to be one to reckon with. It's an emerging market and a lot of money is going to be start flowing...
If they go on the Forex system it's going to be international. It's going to be fast and furious.
Could they do something within the county prior to that?
Sure, why not, educate the citizens, do what they got to do...
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