Deputy Prime Minister and Minister of State Fouad Hussein confirmed that the US Treasury Department has positively evaluated the efforts of the Central Bank, while noting that a military delegation will visit Washington for security talks.
“Our visit to Washington was to attend the NATO summit at the invitation of the American side, and on the sidelines of the summit, we held intensive meetings with the leaders of several countries, and we held a meeting with the US Treasury Department to discuss issues related to monetary policy and banking marks,” Hussein said at a press conference held in Washington, D.C.
He added, “The US Treasury Department positively evaluated the efforts of the Central Bank,” noting that “a military delegation will visit Washington for talks on the security agreement concluded between Iraq and the United States.” “We discussed in NATO meetings the future of the international mission with cooperation with the Iraqi Ministry of Defense,” he continued.
Article: "For the first time, the Iraqi state's non-oil revenues record an increase of 11%"
Quote: "...for the first time, the non-oil revenues of the Iraqi state recorded 11% of the total revenues, with oil revenues falling below the 90% barrier."
Community Comment: "I don’t understand how the budget can be sent back to Parliament when the President signed and sent it to the Gazette for publishing
."
Article: "A representative of the framework: The 2024 budget will be returned to the House of Representatives and the reason is revealed”
THE AMENDMENTS NEVER GOT PUBLISHED IN THE GAZETTE YET.
Article: "Customs revenues amount to nearly one trillion dinars in the first half of 2024"
Article: "Foreign Minister arrives in Washington" Quote: "Foreign Minister Fuad Hussein arrived in Washington today, Wednesday, to participate in the 2024 NATO Summit."
Deputy Prime Minister and Secretary of State Fuad Hussein on Friday called for a review of sanctions against Iraqi banks, during a meeting with the US Undersecretary for Terrorism and Money Laundering Affairs.
The State Department said in a statement received by Mill, that “Minister Fuad Hussein met with the US Undersecretary of the Department of the Treasury for Terrorism and Money Laundering, Brian Nelson, in the presence of the two accompanying delegations at the ministry’s headquarters in Washington, D.C., during which they discussed the issues on which the two parties are working in accordance with their previous reform agreements.”
Hussein stressed, according to the statement, “the commitment of the Iraqi government to move forward with its reform and economic measures related to the Iraqi banking system and the energy sector.”
He explained that “the government’s policy seeks to achieve the independence of Iraqi energy through associated gas investment projects, and the development of the mechanism of Iraqi banks in line with international standards to ensure transparency and provide open data, enabling banks to provide the services needed by the Iraqi people, calling on the American side to reconsider the sanctions imposed on about 32 Iraqi banks, as they engaged in the process of structural reform.”
Hussein pointed out that “the stability of the exchange rate of the Iraqi dinar against the US dollar is a fundamental pillar for achieving economic, social and political stability in Iraq, which is what the government seeks to achieve, calling on the concerned US institutions to review and build on it.”
For his part, Nelson praised the steps taken by the Iraqi government to support the Iraqi economy and address the challenges it faces.
Nelson stressed, according to the statement, that “the competent American institutions understand the seriousness of the Iraqi government in modernizing the working mechanisms in the Iraqi institutions, expressing the readiness of the American side to help Iraq in addressing the obstacles to its reforms, which will reflect positively on the Iraqi economy.”
Oh, this is big news right here, look at this, Article "Iraq's non-oil revenues reach 11% for the first time" Been talking about this for the longest time. This has got to increase.
It's usually around 4%...Yah! Pee-pee dance! Finally we're starting to see some movement.
Article: "Nearly one trillion dinars of customs revenues in the first half of 2024"
This article is really good news as we are aware Iraq has to diversify their income right now. They rely way too much on oil sales so they have to find alternatives to that. Customs is one of those alternatives...It is generating a lot of income for Iraq...This is exactly what we want to see Iraq do, work on budding those alternative revenues for Iraq. This is a big help...
The IQD is not officially trading on the Forex right now because it's part of their punishment, but it's listed there because they had a pairing at one time just like the [Venezuela] Bolivar...
Once they've been paired before, even though they're in trouble and they might not be officially trading on the Forex, they're still listed as trading 1 to 1. That doesn't mean that's what's happening, it's like a placeholder. Think of it as a book-marker. They're not officially trading at 1 to 1...A book-marker, that's all it is...When the time comes and they start trading on the Forex again...they're already set up and can start trading right away. That's the same with all currency exchange websites.
Al-Sudani pointed to “the economic approach taken by the government in opening up to productive partnerships, developing the investment environment in Iraq, to suit international companies, attracting investments and strengthening partnership with the Iraqi private sector, and providing supporting sovereign guarantees.”
For his part, the Chinese group delegation expressed “its desire to participate in the infrastructure sector in Iraq, and to contribute to development and economic projects, in order to expand the extent of cooperation with the Iraqi private and public sectors, and within various economic and investment fields.”