Prime Minister Mohammed Shia Al-Sudani received, today, Wednesday, the Ambassador of the United States of America to Iraq, Alina Romanowski.
During the meeting, according to a statement by the Prime Minister’s Office, a copy of which {Euphrates News} received, “the dialogue conducted by the Supreme Military Committee, on ending the alliance’s mission, and ways to resolve this dialogue to reach agreement on a timetable for implementation.”
The meeting also witnessed “the discussion of developments of the regional and international situation, the course of events in Gaza, the suffering of our Palestinian people as a result of the continuation of aggression, the dangers of the expansion and spread of the conflict in the region, and the responsibility of major countries, international organizations and international organizations to stop the tragedy of civilians throughout the Palestinian territories.”
Question: "Why haven't we had a new exchange rate?"
It's always the same answer, it's the corruption from Iran that steals from the auctions from the CBI...government through the political people that they have.
You can stop asking question about the budget. It's all there. Concerning the tripartite budget, everything...all the projects...cities, new exchange rate, lower notes, ATM machines, contracts, everything, it is all there...It is a fact...The GOI has the budget and they have the new exchange rate from the CBI.
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The Iraqi citizens are being given their education, not our education. They are telling the Iraqi citizens what they need to hear at this moment in the monetary reform process...
$4.9 billion for a pipeline in the budget...Didn't you say it was 6.5 billion dinars
?
'Yeah.' And you're saying it equals $4.9 billion? 'Yeah.'...
They told the world...6.5 billion IQDs is equivalent to $4.9 billion...6.5 divided by 4.9 it comes out to 1.32 or $0.76...You don't have to think anymore after this...That's billions to billions not trillions to millions. That's a rate change...You're telling the world this.
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[Iraqi bank friend]
Aki in Dearborn...he's got one [new ATM machine like the ones delivered in Iraq].
They put these ATM machines out in order to put out the lower notes...These ATM machines will teach the citizens about the lower denoms and it will teach the bank employees about this as well too...There's going to be a stampede of people that will be rushing into the Iraqi dinars...These ATM machines are now being impregnated...
When they load or if they have loaded them up [new ATMs], the note count has already been determined. The note count for each individual machine has already been accounted for...
These machines will be the state of the art...State of the art has nothing to do with a program rate. If it was they would have had the state-or-the-art with the program rate for the last 20 years...The CBI is desperately trying to put out the least amount of currency at the onset before they release the new exchange rate. Because once they do this, if needed, they will be able to add to this note count as the value is needed.
These ATM machines have the capability to recognize the lower denoms that are soon to be passed out to the citizens in order to add value to their currency and to go hand in hand with a new exchange rate of the lower notes...These ATM machines have the software for the lower notes.
But does it have the lower notes in these ATM machines?
Shafaq News/ Iraqi Prime Minister Muhammad Shiaa Al-Sudani stressed on Wednesday the importance of networking between border ports and continuing to complete the automation system for customs.
His media office said in a statement received by Shafak News Agency that Al-Sudani chaired a meeting today to follow up on the implementation of the network connection between border crossings, and to complete the implementation of the customs automation system (ASYCUDA).
During the meeting, several topics were discussed, including the summary of the implementation of the second phase of the ASYCUDA system, the first phase of the border ports management system and the completion of network connectivity, in addition to the system for monitoring trucks and their weights on the roads without stopping them.
Al-Sudani stressed the importance of this file in various economic, administrative, supervisory and technological aspects, and its implications for maximizing non-oil treasury revenues, activating sectors and simplifying procedures, all of which represent an essential part of the economic reform priorities contained within the government program.
The meeting witnessed the approval of next September as a date to stop dealing with the paper system and work with the electronic system at customs, in addition to directing the Prime Minister to hold a workshop to follow up and draft the customs law, as well as follow up on the link between the Central Bank of Iraq and private banks, and support the networking system and management of border crossings.
The meeting also decided to strengthen the work of the General Authority of Customs with expertise through specialists and technicians from the Ministry of Higher Education and Scientific Research, in the field of computers and e-government.
The float is to get to the cap. If I'm Sabibi I got a quagmire here. I'm in a catch 22, damned if I do, damned if I don't. If I allow the Iraqi dinar to float freely, it's going to gain in value and everybody outside is going to make some money with my money but I don't know if I want it to float for a long time. But then again I have a lot of favors, a lot of contracts, a lot of people out there, there's a lot of reserves with a lot of our currency in there. I've got to be careful, they're counting on it...I don't know what he's going to do...
I strongly believe the rate is contained in "a" budget not "the" budget, but "a" budget because you got three of them that we're dealing with.
My teams and I are looking for more...for the budget, anything about it. I'm looking for the HCL...speaker of the house to be selected...pictures and videos to be released. I'm looking for more than the soldiers/CBI representatives at the ATM machines with more explanation about them and what's in them. I'm looking for the lower notes...new exchange rate. That's what we're looking for...and I hope you are too.
Iraqi Cabinet Approves Measures to Enhance Electricity Supply
In its most recent meeting, the Iraqi Bureau has endorsed a few measures to address the power needs during top summer periods and to foster the nation’s power framework.
The most important choices are:
Agreement with Mass Holdings Corporation:
Contracting with Mass Holding Company to supply electricity specifically to the northern region and the national grid has been granted to the Ministry of Electricity. Due to the need for a steady supply of electricity and the peak summer demand, this contract is crucial. Depending on financial viability, the contract will last for three months.
Contract with Kar Gathering:
Additionally, approval has been granted for the Ministry of Electricity to enter into a contract with Kar Company for the supply of Turkish electricity. This agreement is three months long and adheres to a reduced price formula that has been approved by the Ministry of Electricity. It also addresses the ministry’s financial capabilities and the peak summer demand.
Developmental and Financial Approvals:
Authority for the Loan Contract: The Minister of Finance or an authorized delegate has been given permission by the Cabinet to sign the loan agreement that will fund the project to supply and install five 132 KV substations. The Ministry of Electricity will gain from these substations, which will be situated in South Khalidiya, Al-Suwaira, Al-Rumaitha, North Kirkuk, and Al-Rifai. The Federal Budget Law for the fiscal years 2023-2025 is in line with this approval.
Endorsement of Supporting Terms: The financing conditions outlined in the Ministry of Finance’s letter dated June 23, 2024 have received Cabinet approval.
These measures, as stated in a press release issued by the Prime Minister’s office, are a part of the overall strategy implemented by the government to advance the country’s electrical infrastructure and guarantee a consistent supply of power, particularly during times of high demand.
