The British Ambassador: We have a desire to strengthen Iraq's friendship and support it in reconstruction
Economy News – Baghdad The British Ambassador to Iraq, Stephen Charles Hutchin, confirmed, on Wednesday, during his meeting with the President of the Republic, Abdul Latif Jamal Rashid, his country’s desire to strengthen cooperation with Iraq and provide support in construction and reconstruction.
The Presidency of the Republic stated in a statement, seen by Al-Iqtisad News, that “President of the Republic, Abdul Latif Gamal Rashid, received, today, Wednesday, at Baghdad Palace, the British Ambassador to Iraq, Stephen Charles Hutchin.”
According to the statement, Rashid stressed "the importance of strengthening bilateral relations between Iraq and the United Kingdom, expanding the horizons of economic, investment and technological cooperation, and joint work to confront climate and environmental changes."
He pointed out that "the security and political stability that the country is witnessing and their positive repercussions on the economic, service and living aspects," stressing Iraq's keenness to establish balanced relations with its regional surroundings in accordance with the principles of good neighborliness and in a way that preserves its security, stability and national sovereignty.
For his part, the British ambassador affirmed his country's "desire to strengthen relations of cooperation and friendship with Iraq and support it in the sectors of economic and social development, construction and reconstruction." Views 87 05/29/2024 - https://economy-news.net/content.php?id=43839
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Wednesday Evening…..the week is half over now.
Member: Anything exciting tonight Mark?
Member: Anything from your bond contacts today?
MZ: One of my two sources that expected money on Tuesday checked in …Their appointments wer punted and now money is expected Thursday
Member: They have to be so frustrated and angry by now at all the lies and delays…..I know we are.
MZ: I know some that had appointments later today and hopefully I will get news from them Once we know that an individual historic bond holder has money – we will know its indeed rolling out .
MZ: Well, MilitiaMan had a good one this afternoon. He talked about their digital transformation and their new cash denominations. This is important. Around minute 12-15 they talk about it….Sudani again makes the comment that the dinar will be more valuable than the dollar. I love that one. Be sure to go watch , like and share his videos.
Member: I wonder -will the iqd be stronger then the Kuwaiti dinar?
MZ: That’s a good question. Sudani and others have mentioned ver the last few years the dinar will be “back to its former glory” as the most valuable currency in the world….So if its going to be the most valuable currency in the world…it would have to be higher than the Kuwaiti dinar.
Member: How much is the Kuwaiti dinar worth right now?
Member: It seems to fluctuate around the mid $3 range.
Member: Friend from Iraq with family there ie uncles, aunts etc; “it’s coming, major rate change” everything Militia Man says is true. And Mtn Goat.
Member: I heard directly from the CE that the fiat dollar will crash around June 15-28!!
MZ: In world news: “Zambia to emerge from debt default as bondholders back $3 Billion restructuring” Emerging economies are suddenly restructuring their debt left and right. And debts are also being forgiven…This is very interesting. I believe much of the world thinks something is about to change.
Member: Everyone have a great night. Suddenly our blessing will come…..and I believe its soon.
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"Thailand will apply to become a member of the BRICS economic bloc, the government of the Southeast Asian country announced on Tuesday."
To give you an idea how important this move is. Vietnam is the largest trading partner with Thailand at the present time. This could shift when they become a market economy in July adding to the ability to trade with the US as well.
It is just simply important to note that the world Trading Map is changing rapidly. As we have discussed before, 80% Plus trades are done across the waters. This is more than enough of a percentage to change exchange rates on a global scale.
This is also why the World Trade Organization is reconfiguring trade exchange rate percentages and plans on presenting them to us the second half of this year.
The Iraqi banking system may soon receive banks of another type called (digital banks). What are these banks and will the citizen, the banking system, and the Iraqi economy benefit from them? Files that the beneficiary of the banking sector services in Iraq is trying to ask.
https://economy-news.net/content.php?id=43770
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International Monetary Fund mission for the current year 2024 for Article Four consultations praised the Iraqi government’s measures, including the monetary policy led by the Central Bank of Iraq.
The report indicated that the Central Bank of Iraq has taken several measures aimed at stabilizing the national currency and controlling monetary inflation.
Adding that the Central Bank raised the interest rate on monetary policy tools from 4% to 7.5% and increased the mandatory reserve requirements for banks from 15% to 18%, and these steps were decisive in reducing the inflationary pressures that Iraq suffered from, and this contributed to creating an economic environment. More stable.
The report emphasized that important reforms in the banking sector, such as the gradual increase in bank capital and mergers between small banks, aim to strengthen the banking sector and increase its efficiency and flexibility in the face of economic shocks.
The report noted that Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions, by launching an electronic platform that imposes the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in accordance with international banking standards, as well as the role of the Central Bank of Iraq in expanding relations. Correspondent banking, to facilitate smoother international trade financing operations.
Shafaq News/ The Ministry of Natural Resources in the Kurdistan Regional Government confirmed, this evening, Wednesday, its readiness to visit the capital, Baghdad, again to solve the problem of resuming the export of the region’s oil, in cooperation with the Federal Ministry of Oil.
The ministry said in a statement received by Shafaq News Agency, “We supported from the beginning resolving the issue as quickly as possible and exporting oil (Kurdistan Region oil) through international ports. For this purpose, we visited Baghdad several times, and in January of this year we met with the head of the committee.” Finance and the Federal Government Committee consisting of the Ministries of Oil, Planning and Finance, and a report was signed in this regard.”
She added, “The committee last met on the 19th and 20th of this month in the presence of representatives of the Ministry of Natural Resources. We are now awaiting the results of the committee meeting, and are ready to visit Baghdad next week to resolve this issue.”
Yesterday, Tuesday, the Federal Ministry of Oil, the Ministry of Natural Resources and companies operating in the Kurdistan Region called for an “emergency” meeting in the capital, Baghdad, for the purpose of accelerating the restoration of production in the region’s fields.
Federal Oil said in a statement received by Shafaq News Agency, that it is keen to restore production in the fields located in the Kurdistan Region and resume exports through the northern system in a way that provides the national interest.
The Ministry called on the Ministry of Natural Resources in the region and the international companies operating the fields located in the region to hold a meeting in Baghdad as soon as possible for the purpose of discussing and discussing the issue and reaching an agreement to accelerate the restart of production and resume the export of oil produced through the Turkish port of Ceyhan and according to the quantities specified in the budget law.