International Finance: Economic Reform In Iraq Is Witnessing An Increasing Pace And We Have Invested About Two Billion Dollars, 19 JUNE

 International Finance: Economic Reform In Iraq Is Witnessing An Increasing Pace And We Have Invested About Two Billion Dollars

Money  and business  Economy News _ Baghdad  The representative of the International Finance Corporation in Iraq, Bilal Zaghir, confirmed today, Tuesday, that the institution’s investment in Iraq has reached nearly two billion dollars since 2005, while indicating that economic reform is witnessing an increasing pace.

Zaghir said in an interview with the Iraqi News Agency, followed by “Al-Iqtisad News,” that “the work of the International Finance Corporation dates back to the year 2005, and over the years we have been able to invest nearly two billion dollars in a wide range of sectors,” indicating that “our work in Iraq will extend out of our belief in future prospects.”  

"For Iraq, the pace of economic reform will accelerate, and this will reflect positively in creating other investment opportunities in all sectors, whether industrial, infrastructure, or in the financial and banking sector."

He added, “The International Finance Corporation is the arm of the World Bank that is concerned with developing the private sector by providing the necessary financing for private sector projects in addition to providing advisory services.

Therefore, the framework of the institution’s work expands to include a wide range of financial services to all companies operating in Iraq in addition to providing consulting services".

Zaghir continued, “The IFC’s thinking relates to a group of sectors whose importance we believe and whose importance we share with the Iraqi government, whether investing in the Iraqi industrial sectors, where they are productive and an alternative to imports, and the second part relates to the financial sector, both its banking and non-banking parts, in addition to the importance of investing in infrastructure and improving the services provided.

” For Iraqis throughout the country,” pointing out that “the main point is our work and encouraging the private sector and working with it.” Views 172  06/18/2024 - https://economy-news.net/content.php?id=44398

THE BIG CALL HIGHLIGHTS, 19 JUNE

 Tues. 18 June 2024 Bruce, The Big Call The Big Call Universe (ibize.com)  667-770-1866, pin123456#:

• “Wed. 19 June 2024 is Juneteenth Freedom Day and unless there’s a False Flag Event that day, Tier4b could get notification and start exchanges.
• “Some Redemption Center people have a job to enter the GCR codes. For the last several days the codes weren’t taken and sent back. Today one code was received. Two were sent back – one on Iraq and the other on the Rupia.
• “The Iraqi Dinar rate will be published in the Gazette on Wed. 19 June.
• “The Afghanistan Rupia code and the other two codes will be entered on Wed. 19 June.”
• Tues. 18 June 2024 MarkZ: “Sources close to the US Treasury seem to be clouding the timing, telling different groups different things. …I’m getting information on some really weird things that are going on. People with good credit and good incomes are having their loans not approved. I got from many sources in Reno that Sat. 15 June 2024 evening they released 1% to Bond Holders. That should kick off a cascade event.”
• Mon. 17 June 2024 TNT: “Over the weekend the old ATM’s in Iraq were emptied out by the CBI, replaced with new machines, and loaded with the new, lower Dinar denominations. On Mon. 17 June 2024 Sudani announced on Iraqi TV that before the end of the holiday, which was Wed. 19 June, that the Iraqi citizens will have their new exchange rate and access to the new ATM’s and the lower denominations.”

Coffee with MarkZ. and Andy Schectman. 06/19/2024

"RV UPDATE" BY WOLVERINE, 19 JUNE

 Tues. 18 June 2024 Wolverine

• “I got some news – things have started. It is getting really emotional. I received a telephone call and will not mention names, but right now, the caller is at the bank about to receive his blessings. Things are happening. It is someone I know, close to me. We will hear more of this coming through.  
• “We received an audio from the Pentecostal group, he is ready. They have liquid money and they have received funds to distribute funds to members. The Pentecostal group has about 3 million people so one person is not in charge of distributing. They have different leaders assigned to different platforms. He sent an audio saying all is ready to go. It was very exciting news for their people. I am not in that particular platform, but in another one of their platforms in that group. He came out with a text message saying it will be this week, but for their whole organization it will take them into August to pay all their members.
• “Yesterday Mon. 17 June I was supposed to get a message from Reno that the Tier 4A group was supposed to go first. Unfortunately, I don’t know if anything has happened yet.  I did not receive a message from that source. Hopefully I will get some messages coming in from Reno. 
• “I received a message from Zurich that it started a while ago. That is all I know. I do have European contacts, but none of said anything.
• “Again, it is a process. Probably some people are getting paid, but for others it is not their turn yet.
• “For us in Tier 4B we are to get it this week.
• “It is stressful, maybe Bruce may know more about this than I do. But today or tomorrow notifications for 4B should be released.  IF the bonds are getting paid, then surely the currencies will be coming out.
• “It will be emotional, and I was emotional when the person called me that WAS at the bank. I am really happy for anyone receiving their blessings.
• “I am not to talk about Mauricio, but they are getting close, but right now I need to stay quiet about his platform.
• “I am sure this is going to happen soon, and then we will have Three things: 1) Live emergency call – 2) You tube video by friend of mine – a member with the Trumpets of freedom and then 3) The Opera. I will then un-mute the room so we all can celebrate!   Take care, Wolverine”

https://dinarchronicles.com/2024/06/19/restored-republic-via-a-gcr-update-as-of-june-19-2024/

Malaysian Currency Now On RV Path in BRICS Gold-Backed Alliance, 19 JUNE

Malaysian Currency Now On RV Path in BRICS Gold-Backed Alliance

Prime Minister Declares Strategic Intention to Join BRICS Alliance which would lead to a significant RV of the Malaysian Ringgit (MYR).

In This Article

• Malaysia’s Formal Bid to Join BRICS
• The Anticipated Revaluation of the Malaysian Ringgit
• BRICS Gold-Backed Trade Currency and Its Implications
• Malaysia’s Strong Economic Contributions to BRICS
• 
  

Malaysia’s strategic decision to join the BRICS economic bloc has sparked significant discussions regarding the future of the Malaysian Ringgit (MYR).

Prime Minister Anwar Ibrahim’s announcement highlights Malaysia’s intent to align with BRICS, potentially leading to the revaluation (RV) of the Ringgit through the bloc’s gold-backed common trade currency which will be composed of 40% gold-backing.

Malaysia’s Formal Bid to Join BRICS

Prime Minister Anwar Ibrahim’s recent declaration signifies a pivotal moment for Malaysia’s economic and diplomatic strategy. In an interview with Chinese news outlet Guancha, aired ahead of Chinese Premier Li Qiang’s visit, Anwar confirmed Malaysia’s intention to join BRICS, marking a crucial step towards diversifying its strategic relationships.

“We have indicated, as a policy, that we are joining,” said Datuk Seri Anwar. “We have made a decision. We are placing the formal procedures soon.” This move aligns Malaysia with a group of nations collectively challenging the Western-dominated global order, potentially reshaping the economic landscape.

The Anticipated Revaluation of the Malaysian Ringgit

One of the most significant implications of Malaysia joining BRICS is the potential revaluation of the Malaysian Ringgit.

The BRICS bloc plans to implement a gold-backed common trade currency. Inclusion of the Ringgit in this currency basket could significantly enhance its purchasing power and exchange rate, especially against fiat currencies like the US Dollar.

The revaluation of the MYR would not only strengthen Malaysia’s financial stability but also boost its attractiveness for foreign investments. This economic shift is expected to elevate Malaysia’s status in the global market, offering new opportunities for growth and development.

BRICS Gold-Backed Trade Currency and Its Implications

The BRICS bloc’s move towards a gold-backed trade currency is a strategic effort to reduce dependency on the US Dollar and foster economic sovereignty among member nations. For Malaysia, participating in this initiative means aligning the Ringgit with a stable and valuable currency system, enhancing its global economic influence .

This new currency system aims to facilitate smoother and more secure trade among BRICS nations, providing a robust alternative to the existing fiat currency system.

The anticipated revaluation of the Ringgit under this gold-backed regime is poised to offer Malaysia greater economic leverage and improved terms of trade.

Malaysia’s Strong Economic Contributions to BRICS

Malaysia’s decision to join BRICS is underpinned by its strong economic indicators and potential contributions to the bloc.

In 2024, Malaysia’s GDP is estimated to reach $445 billion USD, with substantial exports in key sectors such as digital/electronic devices, electrical machinery, mineral fuels, and industrial machinery. These economic strengths position Malaysia as a valuable member of the BRICS alliance.

Malaysia’s top export destinations in 2023 included major economies such as Singapore, China, and the USA, highlighting its significant role in global trade.

The nation’s diverse export portfolio, comprising electrical machinery, mineral oils, and animal or vegetable fats, among others, showcases its capacity to contribute effectively to a diverse BRICS economic bloc.

Experts, such as Datuk Prof Dr. Mohd Faiz Abdullah of Malaysia’s Institute of Strategic and International Studies (ISIS), emphasize the importance of Malaysia’s participation in BRICS. “Building our ties with these key countries will make our economy more resilient,” he noted, underscoring the strategic benefits of Malaysia’s move.

The Bottom Line

Malaysia’s formal intention to join BRICS represents a strategic maneuver with far-reaching economic implications.

The potential revaluation of the Malaysian Ringgit, driven by the adoption of a BRICS gold-backed common trade currency, positions Malaysia for enhanced financial stability and global economic influence.

Coupled with Malaysia’s robust economic contributions, this move promises to solidify the nation’s standing within the BRICS alliance, fostering new opportunities for growth and collaboration in the evolving global landscape.

Contributing articles:

• https://www.straitstimes.com/asia/malaysia-preparing-to-join-brics-economic-group-media-report-says
• https://www.sinardaily.my/article/218946/focus/national/joining-brics-will-diversify-malaysias-strategic-relationships-and-strengthen-its-economy
• https://trendeconomy.com/data/h2/Malaysia/TOTAL
• https://www.statista.com/statistics/319024/gross-domestic-product-gdp-in-malaysia/

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Oil Clarifies The Details Of The Memorandum Of Understanding Signed With The American Honeywell, 19 JUNE

 Oil Clarifies The Details Of The Memorandum Of Understanding Signed With The American Honeywell

Posted On06-18-2024 By Sotaliraq  The Ministry of Oil explained the details of the memorandum of understanding signed with the American company Honeywell to develop refineries, and while it indicated the Prime Minister’s directive to prepare a study to establish a pipeline network adjacent to the development road, it revealed projects that will enter service soon related to raising refining capacity.

Deputy Minister of Oil for Refining Affairs, Hamid Al-Zobaie, said, “There is a memorandum of understanding signed by the Minister of Oil under the auspices of the Prime Minister with Honeywell, which is one of the large specialized companies with extensive work in all activities,” noting that “a workshop was held with the company.” Concerning refinery activity.”

Al-Zobaie explained, “The memorandum that was signed aims to develop projects for developing refineries and to meet what was directed by the Prime Minister regarding the refinery capacity reaching 40 percent of the crude oil production capacity,” noting that “raising the refinery capacity to 40 percent will add value to the crude oil produced and lead to To raise financial returns and thus support the national economy.”

He pointed out that “7 projects were discussed regarding refineries, with a capacity of 70 thousand barrels for each project, in the governorates of Maysan, Dhi Qar, Muthanna, and Najaf Al-Ashraf, in addition to the third unit in the Doura, Haditha, and Qayyarah refineries.”

He pointed out that “the ministry’s plan was presented and discussed extensively with Honeywell during the workshop held, and it is hoped that a complete vision will be presented by the company regarding the process of developing the refineries with the proposed capabilities during the next two weeks.”

He added, “Honeywell is known for its technical and technological expertise and capabilities, which is important for gaining and transferring expertise to national cadres and developing facilities,” stressing that “after completing the preparation of the projects, the implementation mechanism and time periods for their completion will be determined.”

He noted that “the Prime Minister paid great attention to the refinery sector through development and raising the capabilities of refineries due to its great economic importance,” indicating that “great achievements have occurred in the refinery sector during the past short period, represented by the completion of the fourth unit in the South Refinery, which added 70,000 barrels of refining capacity,

in addition to About the Al-Azmra unit in the same southern refineries, which will be opened very soon, as it added about 1,200 cubic meters of high-octane gasoline, as well as the completion of the Al-Azmra unit in the Doura refinery and the rehabilitation of the North refinery in record time, which added refining capacity of up to 150,000 barrels.

He continued: “During the next few days, the CCR unit in the North Refinery will enter service and will add approximately 3,000,000 liters of high-octane gasoline. The Izmora unit in the North Refinery has also been operated,” stressing that “all of these projects were completed in very short periods.”

He continued, “The upcoming projects, which will enter service soon, will be a contributing factor in raising refining capacities and filling the local consumer need for some products, including the FCC unit in the southern refineries, as it is hoped to be completed in the first half of next year, as it will add gasoline production.”

High octane by 4,000 cubic meters to 4,000,000 cubic liters, and we also have projects for refining capacity additions in the Haditha refinery, during the current quarter of the current year, adding 20,000 barrels.”

He pointed out, “The Prime Minister directed the Ministry of Oil to prepare a study that includes establishing a pipeline network adjacent to the development road that meets all the future strategic plans of the Ministry of Oil, from the fields to the transportation process, in order to facilitate the process of transporting crude oil and gas between the north and the south, as well as export ports.” LINK