I did hear from 3 or 4 military sources and Reno and the Treasury…rumors that are all over the place, some saying it’s happening right now, to no – its tomorrow…to Its already started, to all kinds of timing rumors in an concerted effort to cloud timing. …I think it’s a good things to see them in panic mode trying to cloud timing.
I am getting inundated with bank contacts telling me to expect that things have already started …but coming to fruition in banks after the 4th of July. With a rollout in the days immediately following. I believe the 4th is on a Thursday this year... so I was told the roll out around the 6th and 7th. That is the rumor. But remember we don’t know the timing…but, I am sure getting a heck of a lot from the banking side that things are now moving quickly and that is what they are preparing them for..
Finally, “Carrefour” will open in Baghdad.. The international chain has ended its hesitation
It may not be a passing commercial event in Baghdad.. The international shopping chain “Carrefour” - which has been reluctant for years to enter the Iraqi market - has made up its mind and is actually preparing to open two branches in the capital.
The first will be in the Jadriya area within the “Jadriya Mall,” and the second within the Bismayah Mall complex. According to information obtained by the 964 network from various sources, the opening of the chain of markets in Al-Harithiya Mall has been withdrawn, because “Carrefour” needs a very large space that “Al-Harithiya” did not provide.
He already got what he wanted, as he acquired the largest part of the area of Al-Jadriya Mall, which will also include a group of branches of international agencies, while the chain’s branch in Bismaya will also obtain a large area within the mall of the residential complex, and Al-Jadriya Mall was scheduled to open.
It was strange that the local authorities in Baghdad agreed to open “Carrefour” in Jadriya...the most crowded area of Baghdad. Usually, the authorities oblige the “Carrefour” chain to open its branches in areas far from city centers, to contribute to the revitalization of remote areas and eliminate traffic congestion, especially since the crowding “Carrefour” is a certainty due to the easy and unique shopping experience it provides, the competitive offers and prices, the way products are presented, and the quality standards supervised by teams of international experts.
Carrefour is a French international supermarket chain with five branches in the Kurdistan region of Iraq (5 branches in Erbil, a branch in Sulaymaniyah, and another in Dohuk), and provides a wide range of home, food and other shopping options to the consumer.
Carrefour was scheduled to open a branch in Baghdad Mall in the Al-Harithiya area in the center of the capital, but the lack of suitable spaces prevented this, which prompted those responsible for the chain’s affairs in Iraq to search for alternative locations, indicating the possibility that the chain may have a third branch and perhaps A fourth in Baghdad soon. ink
Article Quote: "Member of the Parliamentary Legal Committee, Raed Al-Maliki, (not to be confused with Nuri Al-Maliki) reviewed...the laws that will be read after the end of the legislative recess of the House of Representatives. Al-Maliki pointed out, 'The Oil and Gas Law and the Federal Supreme Court Law are basic laws and at the same time they are controversial laws, so I do not think they will be advanced during the second legislative term unless the government completes them.”
The HCL is not on the front burner...The excitement/speculation about the HCL being at the front of the line just isn't true.
[Response to the IBBC debate video 6-23-2024 below]
The exchange between Dr. Tabaqchali and Professor Gunter was very enlightening...Iraq is suffering from the same ailment as the United States...over-regulation and hostility towards the private sector...Bureaucratic strangulation...[In] Iraq, it is from the fact they were Internationally punished for something they didn't do and over punished by extending the punishment far too long...By over punishing, you breed a class/population of super criminals who become more savvy and more bold, accomplished by the crooked government being the bulk of employment opportunity.
...They must downsize the government by 1/2 and reduce regulations. The more important step is to revalue the currency using a hybrid model where they substantially raise the value of the Dinar and by backing half of that increase with gold and oil...By removing the bureaucratic barriers, business could start quicker and for less capital...
As it has been demonstrated in the United States under Reagan and Trump, tax reduction and deregulation cause fast and substantial economic growth...It is also my opinion that Iraq is working up to such a dynamic albeit they are acting too slowly and could miss the window of opportunity.
DOZENS OF IRAQI COMPANIES PARTICIPATE IN AN INVESTMENT SUMMIT IN AMERICA
The US Ambassador to Baghdad, Alina Romanowski, announced on Sunday that more than 30 Iraqi companies will participate in a summit related to investment projects in the United States available to foreign companies.
Today, Romanowski wrote in a blog on the “X-Twitter” platform, “Best wishes to the 33 Iraqi companies heading to the SelectUSA Investment Summit in Washington, D.C., next week.”
She added, “The investment process is through linking Iraqi companies with American companies and resources to help them develop their businesses.”
(Mnt Goat – Remember when in the past years I said – What is the US waiting for? Why have they not yet invested the US companies in Iraq? There is billions to make over there. – Well the spigot had to be opened first and now its opened. The spigot analogy means that the sanctions are over, war reparations paid and now they can do business easily with the rest of the world. But as you know with Iraq nothing happens overnight and so it took a year and a half to open the spigot but now it’s opened up wide.)
Based on this information from my Saturday call to Iraq, I will summarize it for you. We are still waiting for the US to give assurances. The project to delete the zeros was scheduled for June and we will still have a week remaining in June. This is all I know and can tell everyone at this point. But don’t go off too excited and forget all the other information my contact just told us either. You must put everything into its proper perspective.
Will this be held up until January 2025?
I can’t say and how should I know for certain. This is not a fair question as I do not control the process. You might also be thinking if we have to wait until the end of 2026 as their new phase, the 3rd phase of their strategic plan of reforms is now kicking in. You can go read the full article too in the Articles Section of today’s Newsletter. But I will tell you that I was told last month that for us to see the RV, there was only two phases and that they were completing the 2
nd phase in June. So go figure… What would you now think? Do I have to spell it all out for you again?
What else is in the news?
So, let’s talk about this strategic plan of the CBI for the economic and financial reform. In the recent news, and I quote from the article – “Samir Al-Nusairi, advisor to the Iraqi Private Banks Association, confirmed that the Central Bank’s third strategy has drawn up a road map and programs with clear goals and initiatives for a period of three years in a special, complex, and risk-filled economic and financial situation”
This Central Bank’s third strategy is for the years (2024-2026), which began in June. They say thisnew part of the overall strategy has drawn up a road map and programs with clear objectives and initiatives for a period of three years (but really it's’ only two and half years). I am almost certain the CBI will come out with a further explanation and details of the phase 3 in the coming days. Stay tuned.
