Iraqi Dinar Guru News Highlights (6/28/24)

Investment: Iraq Has Become An Important Economic Destination In The Region, 1 JULY

 Investment: Iraq Has Become An Important Economic Destination In The Region

 Information/Baghdad..   The National Investment Commission confirmed today, Saturday, that Iraq has become an important investment destination in the region and the world.

 The Authority’s media said in a statement to the “Al-Ma’louma” Agency,  “The improvement in the investment climate inside Iraq reflects the government efforts made to strengthen the economic and investment sector.”

He added,  "The National Investment Commission monitors its investment and strategic projects in order to continue the rates of achievement and record the nature of the challenges that must be addressed to ensure the progress of work in Baghdad and the provinces."   He pointed out that  "there are major movements to create a safe climate to attract investments that achieve sustainable development in Iraq.”  https://almaalomah.me/news/68835/economy/الاستثمار:-العراق-بات-وجهة-اقتصادية-مهمة-بالمنطقة    

"RV UPDATE" BY BUCKEYETREE, HOLLY & SUZIE, 1 JULY

 BuckeyeTree 

 We are at the end of June, and Sunday, June 30, is mid year, an opportune time. Almost daily there is a cascade of news in articles from Iraq...IMO, June may end with great news, and, if not with what we seek, but maybe news that brings us yet closer to what we seek...Now ATMs are out and official WTO full member status as of July 18.IMO, the window seems to be getting smaller and startup of those idle ATMs dispensing and working maybe closer!  IMO.

Holly 

  ...based on Iraq’s progress things are definitely on track to being done...I see a culmination of this sometime this summer and it could go now or it could be later, no one and I mean no one will know when...We are definitely in the end time of all of this.

Suzie 

 WTO Article:  "FORMAL WORKING PARTY MEETINGS 2024 18 July 2024 - THU 18 JUL  10:00 Working Party on the Accession of Iraq"   This is good news for Iraq on their accession to the WTO. Hopefully they will have or shown us by that time a new rate for the dinar.  While international trade and economics are the important criteria for membership, having an international tradable currency is not a "cast in stone" issue but I certainly would think Iraq WOULD want that for credibility purposes if nothing else...

New Timeline for RV or New Rate🚩Massive Celebration in Iraq Soon🤔Dinar R...

The Iraqi Parliament responds to the US Congress: Its project against Judge Zidane is a dangerous precedent, 1 JULY

The Iraqi Parliament responds to the US Congress: Its project against Judge Zidane is a dangerous precedent

Fourth – Baghdad

Today, Saturday, Deputy Speaker of Parliament Mohsen Al-Mandalawi considered the US Congress’ draft against the head of the judiciary, Judge Faiq Zaidan, a dangerous precedent and a violation of Iraq’s sovereignty.

Al-Mandalawi’s office stated in a statement received by Al-Rabaa, “The latter considered what was reported by American media regarding Republican Congressman (Mike Waltz) submitting a draft law amendment and including a clause affecting the head of the Supreme Judicial Council, Faiq Zaidan, as a dangerous precedent to be added to the record of actions of the Biden government, which supported In public, it is the most horrific mass massacre committed by Zionist gangs against the people of Gaza, and today they threaten to attack the sovereignty of states and their symbols without a legal justification that allows them to do so.”

According to the statement, Al-Mandalawi called on the Ministry of Foreign Affairs to “move through its diplomatic means and deliver a direct message that Iraq, with all its authorities, rejects such offensive interventions, which came from the American Congressman, describing them as tools of influence for other countries,” stressing that “Iraq is a sovereign country, and its relations with… “All countries are built on the foundation of mutual respect.”

He stressed that “the bill that is to be submitted to Congress by the Republican representative, if approved, will constitute a dangerous turning point that will affect, in one way or another, the nature of bilateral relations between the two countries.”

Al-Mandlawi stressed the full support of the House of Representatives for the “Chief of the Judicial Authority, and its absolute rejection of any abuse of his authority and that of all authorities,” noting “the keenness of the Presidency of the Council to follow up on these illegal actions and take all necessary measures to reject them.”

https://alrabiaa.tv/article/91151/91151-%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%8A%D8%B1%D8%AF-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D9%83%D9%88%D9%86%D8%BA%D8%B1%D8%B3-%D8%A7%D9%84%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A:-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D9%87-%D8%A8%D8%AD%D9%82-%D8%A7%D9%84%D9%82%D8%A7%D8%B6%D9%8A-%D8%B2%D9%8A%D8%AF%D8%A7%D9%86-%D8%B3%D8%A7%D8%A8%D9%82%D8%A9-%D8%AE%D8%B7%D9%8A%D8%B1%D8%A9–%D8%B9%D8%A7%D8%AC%D9%84

"RV UPDATE" BY SANDY INGRAM, 1 JULY

Sandy Ingram

  The four factors that have or can affect the Iraqi dinar currency...The first...is the '24 budget...presents a significant issue for Iraq.  The World Bank's assessment that Iraq needs an oil price of $90/barrel to meet budget requirements is a stark contrast to the current oil price of around $80...This ongoing issue boils down to how the World Bank reviews financial data and how Iraq view the same data.   The second factor...until 2014 Iraq almost always created jobs for college graduates...In the eyes of Iraq, a government career is part of the benefits of being an oil rich county...One reason the budget is so large is that Iraq is budgeting for over 700,000 new government jobs.

The third factor...there are two exchange rates in Iraq...The official rate is round 1310 to $1.00.  The market rate...fluctuates higher around, 1450 to $1.00 and cause issues, even protests.  The market rate is the rate at which people live day-to-day... Because Iran and Syria need and want US dollars the US Federal Reserve has encouraged Iraq to rely more on the Iraqi dinar than the US dollar.  This effort keeps Iraq out of trouble with the US Federal Reserve and the Department of Treasury...The issue of the two exchange rates is expected to be resolved over time.  As of January 1, 2024 all transactions are mandated to be conducted in Iraqi dinars and the gap between the official exchange rate and the market value is anticipated to decrease, offering a sense of stability

...This is the most concerning issue that is brewing.  All oil revenue paid to OPEC is in US dollars...Iraq's oil revenue is received by the US Federal Reserve first and then allocated to Iraq...The fact there are backroom talks over the position of OPEC going forward leaves [us] concerned for Iraq's Financial safety especially if the country wants to receive oil revenues in the dinar currency.  However this would be one of the best steps to strengthen Iraq's currency...OPECs power is being threatened from within and this could lead to an uncomfortable situation for Iraq. 

FRANK26…..6-30-24…….WHERE’s THE BUDGET