China: We support the development of Iraq's economy and are confident of securing our companies and individuals working there, 31 MAY

 China: We support the development of Iraq's economy and are confident of securing our companies and individuals working there

On Wednesday, Deputy Prime Minister and Minister of Foreign Affairs, Mr. Fouad Hussein, held discussions with Wang Yi, member of the Political Bureau of the Central Committee of the Communist Party and Minister of Foreign Affairs of the People's Republic of China, on the sidelines of the tenth session of the ministerial meeting of the Arab-Chinese Cooperation Forum currently held in Beijing.

During the meeting, Chinese Foreign Minister Wang Yi renewed his welcome to accept the invitation to visit Iraq, and also welcomed the holding of the joint Iraqi-Chinese committee meeting scheduled to be held in Baghdad.

The meeting discussed many bilateral issues of common interest between the two countries, including political, economic and military issues. China is Iraq's first trading partner and one of the largest importers of Iraqi crude oil, and it has a large number of companies working in various fields to advance the Iraqi economic situation.

Hussein touched on the development project launched by the Iraqi government, which links Iraq from the port of Al-Faw to Turkey and Europe in the north, and the possibility of aligning this strategic project with the Chinese Belt and Road Initiative, which Iraq joined in 2015.

Hussein stressed the Iraqi government's efforts to diversify the sources of the economy in the fields of agriculture and religious tourism, and called on Chinese companies to invest in the field of alternative energy and gas, noting that Iraq will play an important role in investing in associated gas.
They also discussed banking and financial cooperation between the two countries, as well as China’s support for Iraq to obtain financial financing for investment in infrastructure projects from the Asian Infrastructure Investment Bank, especially in development road projects.
The two sides appreciated the diplomatic efforts in opening the Iraqi Consulate General in Guangzhou and the Chinese Consulate in Basra, as well as welcoming the opening of the Beijing-Baghdad line of Iraqi Airlines.

Wang Yi stressed China's continued support for Iraq's efforts to preserve its sovereignty and develop its economy and in the field of combating terrorism and rejecting all foreign interference. He also expressed his confidence that Iraq will provide security guarantees to Chinese institutions, companies and individuals working in Iraq.

For his part, Fouad Hussein stressed the ongoing cooperation between the two countries in the field of mutual support for international positions, pointing to Iraq’s important role in improving relations in the countries of the region, especially in bringing the views between Saudi Arabia and Iran closer. He appreciated the Chinese efforts on all pivotal issues, including the Palestinian issue and its decisions.  link

BANK STORY VIA FREEDOM FIGHTER12 VIA TELEGRAM ROOM, 31 MAY

 @FreedomFighter12  Per your guidance, I'm sharing how my Chase appointment went yesterday 😊...  »

  Hello!  Today (5/28) I had my Chase appointment to open my account and to “establish the relationship”!!!  Never mentioned RV or dinar or foreign currency words.  

No guru breath! 😁 My husband and adult daughter went with me since I use a wheelchair.  We went in and there was no one at the Welcome Desk so the nearest teller asked me if he could help me.  I told him my name and said I had an appointment scheduled with LaToya. 

 We waited for about 10 minutes and a gentlemen approached us.  He said that LaToya was being delayed, he shook our hands and that he could help us.

  He took us into his office in the back and I explained that I wanted to open a savings account.  I asked that my account be made Private and not used for training.  He said my account would only be accessed if I was present or if the bank saw an issue with it.  

(I didn’t go further with it and thought I would address at the exchange.)  We went through all the paper work to open the account.  He had mentioned that all the Chase banks had closed except this one.  We made small talk while he was working on my account. 

 I had mentioned that I’m expecting an inheritance and may be interested in a Private Client Checking Account in the future.  He explained that I would need a minimum of $150k for that account.  He took my money into the front to make the transaction and pick up the paper from the printer.  He came back and put all my papers and receipt in a folder.  He asked if I had any further questions.  I said I did and asked if Chase was “digital”. 

 He was slightly puzzled and asked what I meant.  I told him my existing bank went digital about a year and a half ago and the interface looks different and transactions seem quicker.  He said they have online banking, they conduct business digitally, etc.  I said “Oh yea Chase is a Tier 1 bank”.

  He said yes their regional branch is in Chicago with the main in New York.  I then asked if their wealth management department was in the same building.  He said yes and that I’d need to speak to Chad on the 2nd floor when the time comes.

  I then said “Suppose my family and I want to go to Europe and spend $5000.  Could I get the Euro here?”  He said oh yes we work with foreign currency. 

 He said they would send it out to a 3rd party to get Euro and it would take about 3 days for the transaction.  Before we ended, I said “Oh yea I’ve read where Chase is opening banks in Iraq.” 

 He said “Yes the Iraqi Dinar comes up every year.”  His tone was like he was blowing it off.  I responded with an upbeat “Oh ok”.  

 My husband said at that time he winked at him (I did not see it).  I asked him for a business card.  He reached in his pocket to get one.  My husband asked me if I noticed how he was fumbling getting his card out. 

 Then we stood to leave, he shook our hands and when he shook my husband’s hand, he winked at him again.  We collected our items and left.   

A few interesting notes…

·         Unbeknownst to me, we were working with the Branch Manager/Vice President! 

·         He winked at my husband twice.  When he was winking at my husband, I didn’t see any of it since I was not watching and was at a different height level.

My husband thinks the bank knew “who we were/people with currency” before we came since the Branch Manager helped us vs a teller/banker. 

 I’m not sure.  However, I’m sure our conversation was much different than typical people coming to open an account.  😊

"CBI DENIES ISSUANCE OF NEW 100,000 IQD NOTES FOR ECONOMIC STABILITY"/ir...

Parliament finances talk about the deficit of the budget: we will adopt this mechanism to fill it, 31 MAY

 Parliament finances talk about the deficit of the budget: we will adopt this mechanism to fill it

Economy News - Baghdad

Today, Thursday (May 30, 2024), the Parliamentary Finance Committee revealed the mechanism for bridging the financial deficit in the fiscal budget for the year 2024 sent by the government to the House of Representatives.

Committee member Moeen Al-Kazemi said that "the 2024 budget, according to the schedules sent by the government to the House of Representatives, amounts to (211) trillion dinars, and the government's oil and non-oil revenues amount to (147) trillion dinars, and this means that the deficit will be (64) trillion dinars, and we in the Finance Committee will follow up on this issue and give our perceptions regarding addressing the deficit in the upper limit."

Al-Kazemi indicated that "the government wants to address this deficit by borrowing from the Central Bank of Iraq in the amount of (20) trillion dinars and from other banks with a value of (5) trillion dinars and issuing new national bonds with (5) trillion dinars, and with a rise in oil prices, up to (16) trillion dinars, and for this we will have multiple meetings with the competent government agencies to find out the details of that process and how it is possible to fill the deficit away from borrowing and reduce it."

On Wednesday (May 22, 2024), the Parliamentary Finance Committee began holding its first meeting after receiving the 2024 budget tables, to review the budget tables and start studying them for the purpose of proceeding with their approval.

Later, the Finance Committee confirmed in a statement that it held its first meeting on the Federal Budget Law for the year 2024 with the aim of developing a comprehensive plan to review and analyze the budget tables and items related to them after their arrival from the Prime Minister's Office.

"RV UPDATE" BY RAYREN98, 31 MAY

 RayRen98  

 NOTICE: ALL SYSTEMS ARE "GO" FOR TODAY...LET'S SEE WHAT HAPPENS. TIME WILL TELL...SOME BANKS SAW "PENDING" RATES ON WEDNESDAY.

"US BANK STAFFERS HAVE RECEIVED MEMOS INDICATING TO BE PREPARED AN INFLUX OF CUSTOMERS HAPPENING SOON"

3 LTRS ARE BACK AT IT AGAIN... EXPECTING SOME "IMMEDIATE ACTION" IN 24 HOURS! TIME WILL TELL...I'M EXPECTING THE "REST" OF MY MIRACLE...TUESDAY NITE NOW!

[via Babysmom]

  ...BANKS EXPECTING TO SEE RATES LIVE AFTER FOREX OPENS AT 5:00 P.M. EASTERN...

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PAST POSTS OF RAYREN98

  "ACROSS THE POND" FOLKS ARE CLAIMING WTO ASCENSION & AN INTERNATIONAL CURRENCY.  SOME 3-LTRS ARE STARTING TO CONFIRM AND ACKNOWLEDGE.  TIME WILL TELL

SO, SOME AGREEMENTS WERE MET LAST NIGHT....LET'S SEE WHERE THAT TAKES US FOR LATER TODAY?

 [via Babysmom]  "EAST COAST BANK CONTACTS ARE "VERY EXCITED" AND ANTICIPATE INITIATING EXCHANGES EITHER LATE TONIGHT OR EARLY IN THE MORNING. TIME WILL TELL...

-----

 EVEN THOUGH I DON'T SEE IT YET...THEY ARE TELLING US "IT'S DONE"...THIS HERE "RIDE" IS FINALLY COMING TO AN END...HOPEFULLY TODAY. 

 [via Vinterv]   3 LTR'S [3 LETTER AGENCIES] ARE ON A 24-HOUR WATCH...

♪♫•*¨*•.¸¸❤¸¸.•*¨•*♫♪ I'm so excited, and I just can't hide it. I know, I know, I know I see a RATE CHANGE! A SHO-NUFF "RATE CHANGE" ! ♪♫•*¨*•.¸¸❤¸¸.•*¨•*♫♪  Sooner THAN later ♫♪♫♪♫  I GOT A FEELIN ...TONIGHT'S GONNA BE A GOOD NIGHT ♫♪♫♪♫ times 3...    

GOOD SOURCES INFORM THAT THEY ARE ATTEMPTING TO PUSH IT OUT "BEFORE" THE END OF THE MONTH...

https://dinarevaluation.blogspot.com/2024/03/rv-update-by-rayren98-3-march.html

"IRAQ'S ANNOUNCED THE DINAR NEW CURRENCY WITH NEW EXCHANGE RATE AND DENO...

Al-Sudani discusses with the New Generation bloc steps for economic reform, 31 MAY

 Al-Sudani discusses with the New Generation bloc steps for economic reform

On Wednesday, Prime Minister Muhammad Shiaa Al-Sudani discussed with the New Generation Bloc the government’s steps towards economic reform.

The Prime Minister's media book stated in a statement received by Al-Maalouma, that "Prime Minister Muhammad Shiaa Al-Sudani received members of the House of Representatives from the New Generation Bloc, and during the meeting, they discussed the general conditions in the country, the conditions in the Iraqi Kurdistan region, and discussed the government's steps in Implementing the priorities of its program in economic reform, providing services, and alleviating unemployment and poverty rates, in a way that helps achieve a development renaissance that will be reflected in the economic and social situation in general.”

He added, "The meeting witnessed an emphasis on the importance of coordination and integration of work between the executive and legislative authorities, which is in the best interest of the country, and also stressed the need for political forces to make the required efforts in addressing issues and differences in visions, with the aim of enhancing stability throughout Iraq and preserving the democratic approach." Which supports the state and its institutions.”  link