The Iraqi Ministry of Communications, under the direct supervision of Minister Dr. Hayam Al-Yasiri, announced the signing of a contract for the deployment of the 2Africa Pearls undersea cable.
The agreement, signed with Gulf Submarine Cables Company owned by Saudi Arabia's STC, aims to route internet capacities from around the world through the Arabian Gulf and Iraq to Europe.
Minister Al-Yasiri highlighted that 2Africa's
Pearls cable, which spans 47 global and regional landing stations, will strengthen Iraq's position as a secure transit corridor for international internet and telecommunications.
According to a press release from Iraq's Ministry of Communications, the project involves partnerships with major global companies including STC Saudi Arabia, Vodafone, MTN, Facebook, and China Mobile. 2Africa's website says the consortium includes eight members, namely, CMI, Meta, MTN GlobalConnect, Orange, stc (center3), Telecom Egypt, Vodafone, and WIOCC [West Indian Ocean Cable Company]
.
Al-Yasiri also announced the fulfillment of promises to enhance Iraq's geographic significance and revenue. The transit internet capacity through Iraq has surpassed one terabit via the Civilizations Pathway project, a significant achievement within just six months.
A Government Source Announces The Size Of The Debts Collected For The Trade Bank Of Iraq
Economy Yesterday, 20:59 Baghdad – IA A government source announced today, Thursday, the volume of debts collected for the Trade Bank of Iraq.
Speaking to the Iraqi News Agency (INA), the source said, “Within the framework of the effort made by the government in the field of financial and administrative reform of the government banking sector, and based on the directives and continuous follow-up of the Prime Minister to restructure the due debts (government and private sector), which benefits the Iraqi Bank.”
For TBI Trade, the following results were achieved during the last period of the government’s life:
1. The total debts collected and owed by the government sector, including the balances of the Kurdistan region, and paid to the Iraqi Trade Bank until 6/30/2024 amounted to approximately one trillion and 630 billion Iraqi dinars. He added,
"2. The total debts collected and owed by the private sector and paid to the Iraqi Trade Bank until 6/30/2024 amounted to approximately three hundred and forty-eight billion Iraqi dinars,
3. The total amounts collected to the Ministry of Finance IRAQ2 account, which represent expired and canceled credit balances, It amounted to approximately fifty-three million dollars. He continued,
"Work is continuing to settle other debts in this area, in coordination with the entities issuing those credits." https://www.ina.iq/212001--630-.html
Goldilocks - QFS Conversations (Official Page), [07/05/2024, 8:22:52 a. m. (07/05/2024, 8:27:00 a. m.)]:]
The Central Bank of Iraq announces the opening of recruitment on a contract basis to fill the position of (examiner) of cash, and applicants for these positions must be in accordance with the conditions stated below, with the offer that the application will be exclusively through the electronic link."
The main responsibilities of a bank examiner are bank operations. It is their duty to see that the performance of their banking system is legal and financially stable.
An examiner reviews and audits internal controls over cash operations. This verifies that controls are in place to monitor cash accounts including accurate recordings of transactions.
This fulfills one of Iraq's economic reforms that is required indicate a stable economy.
July 4, 2024 Baghdad/Iraq Observer Economic expert Ziad Al-Hashemi warned, today, Thursday, of the collapse of the Iraqi dinar against the US dollar in light of the presence of rising factors.
Al-Hashemi said in a blog post on the (x) platform, followed by “Iraq Observer,” that
“(dollar exchange rates) are on the threshold of 1,500 dinars and are likely to rise further, after the US Federal Reserve banned Iraqi remittances in Chinese yuan, due to suspicions of smuggling, money laundering, and financial fraud.”
He added: “It is expected that this ban will cause an increase in demand for the cash dollar within the parallel markets, and this may push the Iraqi Central Bank to return to implementing more stringent measures that will increase the state of anxiety and turmoil in the markets.” Al-Hashemi continued:
“During this week, we witnessed the cessation of selling the dollar to travelers through approved banking companies and restricting it to sales outlets inside the airport only.
This measure will cause more rapid demand for the dollar from the parallel market, especially with the start of the travel season.” He continued: “As I mentioned in previous attached tweets, the Iraqi Central Bank has not been able, more than 18 months after the exchange rate crisis, to dismantle and solve the exchange rate problem, as the factors of rising exchange rates are still effective and influential.”
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Coffee with MarkZ and Mr. Cottrell. 07/05/2024
Member: Good Morning Mark, Mods and fellow RV’ers!!
Member: Hope everyone enjoyed your 4th of July……
Member: If you drink a 5th on the 4th you may not go forth on the 5th…lol
Member: Can we All hope that there is some great news today
MZ: There is a lot of chatter as of yesterday over the HCL in Iraq.
MZ: “Parliamentary committee for “Economy News” The Oil and Gas law is almost complete-this is what we hope from Barzani’s visit to Baghdad” They want you to know they are almost done with HCL. From day one I was told to look for HCL being completed and then BAM you are headed to the bank!
Member: Frank26 says the same thing…….
Member: HCL is possibly cover for starting the RV without announcing it until BRICS has their announcement of The Unit
Member: I was told if IRAQ says anything is almost done. It’s already done!....
MZ: Also in Iraq they are working with the Saudi’s directly to complete undersea cable agreement for internet connectivity. Iraq is becoming a central hub for communications in the middle east. Big news for Iraq. If you are going to be a regional leader- Iraq is going to need some higher valued dinar…imo
MZ: “Unfolding structural economic transformation in Iraq” This article popped yesterday. This is talking about Iraq’s successes – especially in the digital banking world ….and them coming up to speed “tech wise” with the rest of the world. They have made great strides digitizing their economy to be more efficient and faster. We are seeing the economic changes we need for them to change the rate. .
MZ: The news coming out from bonds, banks and groups remains extremely optimistic. They say we are in the process. We will soon find out as more money moves…..
Member: Still waiting for the fines and penalties.. unfortunately
Member: I’m noticing less currency for sale out there…. Anybody else see that? Couldn’t find the good ones I was checking on this morning. Seems sold out or clawed back.
Member: That's a great sign that the currency sites are running low of product.. The door to selling is gonna slam shut at trigger pull.
Member: Japan got new currency on July 3rd
Member: How will we get notifications if the phones and internet is taken down?
MZ: I think this is one of the worst rumors on the planet. No part of me is thinking, TV’s , radio, , power or internet will be turned off. I am told the alleged 10 days of darkness is not 10 days of darkness but them taking control of the Main stream media in order to get the actual truth out there.
Member: Shouldn’t it really be called “Ten Days of Light” ?
Member: 10 days of Darkness = when everyone is glued to their TV while we exchange our currencies in private?? I hope
Member: Come on RV….In the spirit of Independence Day. I would also like to be independent of my bills.
Member: See everyone tonight…hopefully some bond people will get paid today??? Fingers crossed
Michael Cottrell and CBD Gurus join the stream today. Please listen to the replay for their information and opinions.
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THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary, medical opinions or many guests on this stream……just RV/currency related topics.