Al-Sudani Directs To Reconsider Some Economic Decisions

 Al-Sudani Directs To Reconsider Some Economic Decisions

Economy | 08/07/2024  Baghdad - Mawazine News  Prime Minister Mohammed Shia Al-Sudani confirmed today, Monday, that the government has provided the private sector with great supportive opportunities and worked to empower it, while directing a review of some unproductive economic decisions and policies. Al-

Sudani chaired the periodic meeting of the Ministerial Council for the Economy, in which the decisions related to the economic reality and the implementation of the reform aspects included in the government program were followed up, according to a statement received by Mawazine News Agency.

At the beginning of the session, Al-Sudani pointed out "the importance of reviewing the economic decisions and policies that were taken in previous stages, and that the time has come to stand up to a number of unproductive work contexts and practices, and that reform requires strong and correct decisions."

The Prime Minister explained that "the government has provided the private sector with great supportive opportunities, and worked to empower it and launch its projects, and it is closely following up on everything required to continue the pace of growth, and its supportive decisions will not be directed towards the benefit of groups that live on specific outlets, without providing a contribution or returns to the country."

The statement added that "the Council discussed the report of the Diwani Order Committee (24573), headed by the Deputy Prime Minister and Minister of Planning, to follow up on the volume of support directed to petroleum products and fuel supplied to factories and plants and to the Ministry of Electricity."

The statement explained that "the Council also followed up on the issue of taxes due on companies and ways to organize them, and approved the adoption of a clear mechanism for the tax, in addition to approving the work to separate the real operating factories from the fictitious factories and audit the numbers and tables presented in the report and adopt an economic vision that supports the export of factory products and expansion of production."

The statement continued that "on the organizational side, the Council approved the formation of a technical committee from the sectoral bodies in the Ministries of Oil and Trade, in addition to the Council of Ministers' advisors; in order to control roles and resolve loose ends," and directed "to set the next meeting within a week to make final decisions."  https://www.mawazin.net/Details.aspx?jimare=250986

Evening News with MarkZ. 07/08/2024

Monday Evening News with MarkZ

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

Member: Good Evening to one and all……

Member: Every day I wake up and think “I wonder what new and exciting thing will be revealed today?”!

Member: The word on the streets is the process should be completed by the 20th.

MZ: That is similar to what I heard. My contact in Iraq works in a government position. He has made the comment that they have a new rate…..and will activate it soon. That comes directly from Iraq.

Member: (From Dinar Guru) Frank26   What do you get when you have the HCL?  Nano seconds later the new exchange rate…The events you’re seeing, the things that are happening right now, the alignment of many stars, of many events are only pointing in one direction, that there will be an announcement of a new exchange rate very soon to the Iraqi citizens.

MZ: I will agree with that. And it certainly matches with some of the news I got from Iraq today. I was told from day one that when we see the HCL…within hours- we will see the new rate.

Member:  Japan Has a new banknote. Does this coincide with the new financial system we all should be moving into?

MZ: I think it very much coincides with what we should see released this month.  

MZ: On the bond side…I only heard from one of them …and they say they are still hearing they are on track for spendable money at some point during the day tomorrow…..…….Another contact has a meeting this evening.

MZ: I have my fingers crossed and am hoping its accurate and this will be a real party. .

​​Member: Mark do you think Iraq will increase the Dinar to 1000 to 1 this year so that when they drop the zeros itll be 1 to 1?

Member I heard on a call today that the US is still holding up the RV

MZ: I don’t believe the US can hold up things much longer…The world will roll over them

Member: (From Dinar Guru) Mnt Goat  …everything is set to move ahead with the process of currency reform. We are just waiting. We know that the next step must be taken to move ahead and that is to revalue in-country only first just slightly over a dollar, then conduct the Project to Delete the Zeros as the currency swap out takes place. The CBI told us then they plan to monitor for a short time for inflation and then move to reinstate the dinar back to FOREX and when doing so the IMF plans to place the dinar in a new peg as in a basket of currencies and float it.   …this should have already been accomplished in June and is late. It is failure on the part of the US because the US is still stalling it.

Member: its wild that growing up I always thought the US was the good guys. Now it appears we are the biggest villian in a world full of villians. Breaks my heart.

Member: Thanks Mark and Mods….everyone enjoy the rest of your evening.

CBD Gurus join the stream tonight. Please listen to replay for their information.

“THE CONTENT IN THIS PODCAST IS FOR GENERAL& EDUCATIONAL PURPOSES & NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY”

Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz

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.

Coffee with MarkZ. 07/09/2024

Mazhar Muhammad Saleh: Our Cash Reserves Are The Highest And There Are No Fears Of The Dollar Rising

 Mazhar Muhammad Saleh: Our Cash Reserves Are The Highest And There Are No Fears Of The Dollar Rising

Economical 07/09/2024   Baghdad: Al-Sabah   Yesterday, Monday, the financial and economic advisor to the Prime Minister, Mazhar Muhammad Saleh, commented on the return of the rise in the exchange rates of the US dollar against the Iraqi dinar in local markets.

 Saleh explained,   “The fixed exchange rate system in Iraq is based on international reserves, which are the highest in the history of Iraq and its monetary policy, as the foreign currency covers a percentage of more than 100% of the total currency currently exported.”

He added,  "In view of the strength of the official central exchange market, the exchange rate of the dollar to the dinar in the parallel market today in the country does not constitute any relative importance in influencing the stability of the general price level, as

 that general price level has become stable in its components and trends as a result of the influence of the official exchange rate factor."

Currently, the dominant factor in financing foreign (import) trade, amounting to 1,320 dinars per dollar, is a stable trend in the exchange rate and revolves around the stable external value of the dinar,

which is embodied by the state of stability in the relative prices of goods and services to a large extent, as annual inflation in the country does not exceed only 3%. According to Saleh,

based on the above, and in light of the strength of the foreign reserves supporting the Iraqi dinar, whose value as liquid foreign assets exceeds $100 billion, the official exchange market, as a general trend, will remain dominant in containing any colored noise or ambiguous information that is affected by the parallel exchange market in periods.

Short periods due to urgent international or regional political events here and there or in adapting some instructions regulating the monetary market.

 The Sudanese advisor for financial affairs said that after the disappearance of the phenomenon of dollarization in internal transactions, especially in contracts, obligations and payments inside the country since last year and its legal ban, the parallel exchange market has begun to have its general effects today only on a narrow economic scope of prohibited transactions practiced by informal markets. At a rate of 10% of the total supply and demand transactions for the currency.  Saleh stressed that

“the stability of the exchange rate of the dinar to the dollar that the country is witnessing, even in the secondary markets mentioned above, is a real and established stability.

Rather, it is derived from the strength of the influence of the price and quantitative factors of the monetary and financial policies and their integration in imposing overall price stability in the country and containing the inflationary expectations that were caused by the forces of The parallel exchange market during the past years.  The financial advisor concluded his speech by pointing out that

 “the secondary (irregular) market, due to the freedom of external transfer, is under the influence of the official exchange market rate, whose operations are constantly expanding in the interest of dealing with the fixed official exchange rate.”   https://alsabaah.iq/99176-.html    

JUDY NOTES, 9 JULY

 Judy Note: What we think we know as of Tues. 9 July 2024:

There will be an Internet Blackout.

• The White Hat Military is in control of the redemption process, which has released funds across the World for the Global Currency Reset.

• All banks have signed Non Disclosure Agreements.

• The GCR funds come directly from the US Treasury Department of Defense Operations – that go out to Treasury Departments in other countries.

• Japan has revalued their currency.

• Bond Holders have begun to be paid in Brazil.

• Notifications have gone out to Tier 4a, a small group of Tier4b and some Bond Holders.

• Sat. 6 July 2024 Wolverine.  “It has started. It is a process hopefully completed by the 20th. I’m hoping to get the Green Light in a few days.”

• Sat. 6 July 2024 MarkZ: “More and more sources are telling me that serious money movement and us moving towards the banks somewhere around the weekend of Fri. – Mon.  12th-15th. No one knows the exact timing but they are certainly preparing lots of bank contacts for that time period, so I think it may speak well to where we may be on that.”

• Fri. 5 July 2024 Texas Snake: “Well folks it’s not like we haven’t heard this before but, I just got off a call from Hong Kong, London, NYC, Reno, and me. They are indicating that certain bond holder groups are having funds disbursed to paymasters over this weekend and that we as currency holders should remain vigilante for notifications this coming week.  An FYI only as banker has not suggested same.

• Sun. 7 July 2024: NESARA & QFS Plan: The Process of RV Redemption Started, Actual Signature Forms like NDA and Post-Redemption Plan Documents – Trust the Plan! – American Media Group (amg-news.com)

MILITIAMAN: Iraq Dinar-IQD Update-Key Global Factor-PM Al-Sudani-Monetary Reforms-St...

Excessive Issuance Of New Currency: Will It Push The Iraqi Economy Towards The Abyss?

 Excessive Issuance Of New Currency: Will It Push The Iraqi Economy Towards The Abyss?

July 8, 2024 Last updated: July 8, 2024  Hussein Al-Falluji*    In light of the economic challenges facing Iraq, the importance of issuing new currency appears as an important tool of monetary policy that can be used to achieve economic growth and financial stability.

Unfortunately, these funds have been ineffectively directed over the past twenty years towards consumer sectors instead of productivity, in addition to using this tool to fill the budget deficit to cover salaries and the operational budget.

This ill-advised directive, coupled with the dominance of the public sector and neglect of the private sector, led to increased inflation and depletion of the hard currency balance.

 Hence, there is a need to reconsider the use of this important tool and adopt a new strategy that focuses on directing funds towards productive sectors that generate income in hard currencies and supporting the private sector.

 The economic situation in Iraq

 According to available statistics, the volume of cash issued at the end of 2017 amounted to more than 44 trillion Iraqi dinars, while the volume of the monetary mass exceeded 103 trillion Iraqi dinars at the end of 2023.

 All of this money was directed towards the salaries and subsidies sector instead of being directed towards productive sectors.

 If this money had been dealt with wisely and scientifically and pumped into the industrial, agricultural, tourism and mining sectors, the economic situation in Iraq would have been much better than it is now.

Focusing on productive sectors such as tourism, industry, and agriculture can contribute significantly to increasing GDP and improving living standards.

For example, investing in tourism infrastructure development and tourism promotion can attract foreign tourists and increase hard currency revenues.

 Likewise, supporting industry and agriculture to meet the needs of the local market contributes to increasing the gross domestic product and preventing the exit of hard currencies by adopting modern technologies and improving the quality of products, which enhances competitiveness in global markets.

 Reconsidering and scientifically dealing with the new monetary issuance instrument could help in restructuring the national economy effectively and sustainably.

This strategy can contribute to improving the balance of payments by increasing exports and reducing dependence on imports.

 Supporting the agricultural sector to meet the needs of the local market and exporting the surplus using advanced technology and developing storage and transportation facilities can improve the quality of crops and increase the volume of exports.

 In addition, the development of local industries reduces the need to import goods, which preserves hard currency within the country.

 Directing funds towards productive rather than consumer sectors also helps reduce inflation resulting from increased demand without a corresponding increase in production.

 Increasing the flow of hard currencies into the economy enhances the stability of the local currency and reduces exchange rate fluctuations.

 In this way, sustainable economic stability can be achieved that strengthens the national economy and achieves tangible improvements in the standard of living.

 Implementation and monitoring

To ensure the success of this strategy, it is necessary to develop a comprehensive plan and economic feasibility studies to determine priorities and target projects.

 There must be a monitoring and evaluation system to ensure that funds are used effectively and that desired objectives are achieved.

 Cooperation with international financial institutions and strategic partnerships with the private sector can enhance the effectiveness of implementation.

 On this occasion, we demand stopping the issuance of cash for the purposes of filling the deficit in the operating budget, and emphasizing strict commitment to directing any new funds issued towards the productive sectors instead of pumping them into the consumer sectors.

 This wise channeling of funds will contribute to achieving sustainable economic development and improving the economic situation in Iraq.

 *Independent politician    

https://mustaqila.com/الإفراط-في-إصدار-النقد-الجديد-هل-سيدفع/