Money and business Economy News – Baghdad Economist Ziad Al-Hashemi warned on Monday of the possibility of inflation rates rising again globally with the continuation of Houthi attacks on commercial shipping vessels in the Red Sea region.
Al-Hashemi said in a post on the Ax website that there are "fears of inflation rates rising again globally with the continuation of Houthi attacks on commercial shipping vessels in the Red Sea region for the sixth consecutive month, and Iraqi markets are on the list of those affected!"
He added, "The global economy has begun to feel the pressures of rising costs and prices as a result of the continued disruption of transport chains between Asia and Europe, with the Houthi attacks continuing for the sixth month and the diversion of shipping routes away from the Red Sea.
Shipping prices have quadrupled on a monthly basis from $1,890 in the first month of 2024 to more than $8,000 during the seventh month, per FEU container."
He stated that "during the past period, many international economic and financial experts have downplayed the effects of the disruption of maritime transport routes due to Houthi attacks, and their negative repercussions on the prices of goods and services in Western economies, especially the consumer price index (one of the most important indicators for assessing the path of inflation),
but with the continuation of security risks and threats in the Red Sea region, the continued rise in transport prices, and the imminent expiration of many long-term contracts with fixed freight rates, many convictions and analyses have changed."
Al-Hashemi stressed, "We have growing concern that the large increases in shipping prices will lead to significant increases in the prices of goods and products in Western markets, which will put pressure on inflation rates that have gradually begun to decline and reach the targeted levels."
He added, "These price pressures may lead to inflation rates rising again, which means that the efforts and endeavours of central banks to curb inflation in the West have faltered, and this will greatly hinder and delay the start of the process of reducing interest rates, which global markets are eagerly awaiting."
He pointed out that "concerns in the markets continue and are increasing with the continuation of military operations, the disruption of transportation routes, and the rise in transportation prices to significant levels, especially with the absence of light at the end of the tunnel of this crisis, and eyes will focus more on inflation rates, and waiting to see how things will develop."
Regarding the impact on the Iraqi markets, Al-Hashemi confirmed that they are “highly affected by changes in shipping prices coming from Asia, and increases in shipping prices can directly and quickly affect the prices of imported goods, and this may be one of the reasons for the rise in commodity prices in the Iraqi markets during the first half of 2024.”
“It is Tuesday afternoon here, and it is very cold. I am letting you know the Precatorios has started today from 3 o’clock onward and will actually be releasing their opera. They sent a note saying, “Tomorrow we will have a wonderful complete opera concert.”
“They will send me their opera so their people can celebrate. Finally a huge platform is going to be releasing funds to many people with billions of dollars involved. A lot of people will be astronomically blessed.
“Reno and Zurich are moving. Some whales are flying to Zurich, one huge Whale is now purchasing his airline ticket to fly down there.
“We are waiting to hear more news from bond holders. Waiting to get the miracle call this week.
“Nothing for 4B group – this is a letdown. I was told that some 4A groups have received payments, but not liquid money yet. It is a start. Hopefully, those accounts will become liquid this week.
“That is about it. The big news is that the Precatorios have started. I talked to the owner and he said “Wolvie, I am at the bank at the moment.” They have their green light and they will be released by tomorrow.
“I am waiting to receive the call so I can fly out. When that happens Carpathia and Shelby will be looking after the channel. I hope to have better news for all of you tomorrow.
“Story about a couple I just received: This couple was just about to hand over their house as they could not afford the mortgage, and that same day they saw the figures for their mortgage and they had zero balance. Their account has actually been cleared, so maybe Nesara is working and people are getting their accounts cleared. This was the same day they were to lose their home and this miracle occurred.
“I received a call this morning. Funds will be released tomorrow Tues. 23 July (later he changed it to Wed.) They will be liquid. I received an email saying the RV was imminent and about to commence. It’s official. Keep an eye on your emails.”
A Financial Report Reveals And Reality Confirms... Is The Central Bank Leading Iraq Towards An Economic Crisis?
Al-Independent/- Informed sources said that the financial policy of the Central Bank of Iraq faces sharp criticism from financial experts and economic observers, amid a continuous rise in operational costs and a noticeable increase in expenditures.
According to the financial situation tables as of 6/30/2024 published on the Central Bank’s website, the financial statements show that there is a clear imbalance.
The financial report revealed a slight increase in total assets, which reflects an apparent stability in the bank’s financial performance. However, the financial statements showed some points that call for criticism and questioning the
effectiveness of the financial management of the Central Bank of Iraq. The report indicated that gold reservesrose to 14,672,164,921 thousand Iraqi dinars from 14,475,189,559 thousand Iraqi dinars. Although this strengthens the bank's position, the question remains about the
adequacy of these reserves in the face of potential economic crises. As for the bank’s balances with banks outside Iraq, they increased to 2,011,145,122 thousand Iraqi dinars from 1,827,075,442 thousand Iraqi dinars, which reflects a diversification of assets, but the question remains about the risks associated with relying onforeign banks. Foreign currencies witnessed a noticeable increase to 24,688,182,816 thousand Iraqi dinars from 23,838,913,348 thousand Iraqi dinars, which enhancesforeign exchange reserves, but how these reserves are managed effectively must be monitored. In terms of expenses, currency issuance expensesincreased to 10,588,686 thousand Iraqi dinars from 9,897,229 thousand Iraqi dinars, raising questions about the
effectiveness of managing issuance costs. Foreign currency valuation differences also increased significantly to 188,168,707 thousand Iraqi dinars from 151,874,481 thousand Iraqi dinars, which indicates fluctuations in the value of foreign currencies that may negatively affectfinancial stability. Also, general administrative expensesincreased to 52,643,698 thousand Iraqi dinars from 39,692,228 thousand Iraqi dinars, which reflects an increase in operational costs that need to be carefully reviewed to ensure that resources are not wasted. In terms of profits and losses, interest and commission incomeincreased to 2,968,280,621 thousand Iraqi dinars from 2,495,021,601 thousand Iraqi dinars, which reflects a good performance, but the question remains about the sustainability of these revenues in light of the economic challenges.
Total interest expenses increased to 2,684,950,171 thousand Iraqi dinars from 2,271,995,595 thousand Iraqi dinars, which indicates an
increase in interest costs that need better management. As for the final budget, the exported currencyrose to 102,311,666,715 thousand Iraqi dinars from 100,791,930,154 thousand Iraqi dinars, which may indicate inflationary pressures if not properly monitored. Bank depositsincreased to 54,434,578,910 thousand Iraqi dinars from 47,851,676,798 thousand Iraqi dinars, which reflects an increase in deposits, but the stability of these deposits in the long term must be verified. strength point: The report showed an increase in total assets, reflecting the central bank'sapparent financial stability. Gold reserves
and external bank balances also increased, which significantly strengthens the bank's monetary position. In addition, interest and commission income witnessed a significant increase, reflecting a good performance in the bank's financial returns. Weaknesses and doubts: Despite the apparent stability, outstanding outstanding debts amounting to 530,499,124 thousand Iraqi dinars did not change, indicating challenges in debt collection. Administrative expenses also increased to 52,643,698 thousand Iraqi dinars, which may indicate poor management of operational costs. In addition, Central Bank transfersdecreased to 0 from 5,110,240,000 thousand Iraqi dinars, raising questions about theefficiency ofliquidity management. Finally, the balances of government institutionsdecreased to 10,750,719,726 thousand Iraqi dinars from 13,353,688,408 thousand Iraqi dinars, indicating challenges in government financing.
Recommendations:
To improve the financial position of the central bank, it is important to develop effective plans to collect outstanding debts toreduce financial risks.
Operational costs
must also be reviewed and controlled to avoid any unjustified increase in expenses.
It is necessary to establish policies to monitor currency issuance to ensure that unwanted inflation does not occur.
Finally, the reasons behind the decline in the balances of government institutions must be studied and the necessary measures taken to strengthengovernment financing.
Based on this analysis, it is clear that the central bankneeds improvements in several aspects to ensureactual financial stability and effectiveness in resource management.
I didn't watch the entire Republican National Convention yesterday with President Trump. The things that came to light were phenomenal when President Trump accepted the nomination. Bruce said, based on his information, that we would receive notifications after Trump's speech, but nothing has happened yet.
What I can tell you about what is happening right now is that the Pretorious group started and then started in Brazil - about 7 to 8 leaders have received payments, and we will hear about the global startup on Monday. It was going to be Saturday, but now it's set for Monday. There were no delays, it's going very well right now, it's just that it will be Monday.
The Pentecostal group is silent as they have been told to stay quiet and not send audios. They started paying their leaders, but I don't know much because many things go unnoticed and they are told to keep quiet.
Private contractors still get paid. I have seen the documents and certificates. I saw one and there were so many zeros I couldn't count them all. Most of that money goes to humanitarian projects.
We've been told this is the week we're waiting for, and I know we keep saying that and it's absolutely stressful hearing the same thing every week, I don't like saying the same thing every week. Please have faith that it is coming.
I will read you something that arrived a few hours ago: This audio came out: “Pastor, pastor, it is official that the world blackout has been made, and at this moment everything is paralyzed, NESARA and Gesara are already in place. Please watch CNN now…” I don’t watch CNN, but that came out about two hours ago.
Reports received on July 18 are encouraging: 25,000 Dubai debts have begun to be paid 1. 12 activate p__ funds to be paid today or tomorrow. Sellers of 10 to 12 mega __ files will receive contracts in the next few days, Dubai 2 buyers will receive funds in the next few days for their initial and shortlisted files.
New Iraqi Dinar exchange rates will FINALLY be published directly on Forex screens on Sunday evening. NOTE: As always, remember that all of these events are subject to normal setbacks, but there are many positive signs to support these claims. We will see.
A few hours ago something else emerged: in a conference this morning they confirmed the completion of the pilot test and its full payment before the end of this week. This pilot test is a requirement of the purchasing table to begin the entire process that is scheduled for the end of next week. Today they will send us instructions that include the payment process and inspection letter to the warehouses where the material is located.
So that's what's happening right now. I have absolute faith that this will happen. Hopefully we will receive notifications for the Tier4B group any day now. It will come when you least expect it.
With the blackout and things coming from different channels, I was on a Zoom call with my group and everyone said this is the end of the old system and now we will see the new system. We will wait and see.
Stay in the faith. This is definitely coming.
If I have news, I will make a live emergency call.A NOTE FROM CARPATHIA Our new beginning – The end of our long wait is in sight. Now we see ourselves walking along a newly paved road towards a new miraculous destination full of faith and hope. The darkness of our past days is fading, and the path of our happy days is now paved by the twinkling hope of a million stars. Moving forward at this time may still seem like a challenge, but fear not, exciting times and incredible, joyful days await you, waiting to embrace you in the comforting arms of wonderful new joys and exquisite places.
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TRANSLATION IN SPANISH
Chat en vivo de Wolverine, 19 de julio de 2024
Ayer no vi toda la Convención Nacional Republicana con el presidente Trump. Las cosas que salieron a la luz fueron fenomenales cuando el presidente Trump aceptó la nominación. Bruce dijo, según su información, que recibiríamos notificaciones después del discurso de Trump, pero aún no ha sucedido nada.
Lo que puedo decirles sobre lo que está sucediendo en este momento es que el grupo Pretorious comenzó y luego comenzó en Brasil: alrededor de 7 a 8 líderes han recibido pagos, y escucharemos sobre la startup global el lunes. Iba a ser sábado, pero ahora está fijado para el lunes. No hubo retrasos, va muy bien ahora mismo, solo que será lunes.
El grupo pentecostal está en silencio ya que les han dicho que se queden callados y no envíen audios. Comenzaron a pagar a sus líderes, pero no sé mucho porque muchas cosas pasan desapercibidas y les dicen que guarden silencio.
A los contratistas privados todavía se les paga. He visto los documentos y certificados. Vi uno y había tantos ceros que no podía contarlos todos. La mayoría de ese dinero se destina a proyectos humanitarios.
Nos han dicho que esta es la semana que estamos esperando, y sé que seguimos diciendo eso y es absolutamente estresante escuchar lo mismo cada semana, no me gusta decir lo mismo cada semana. Por favor tengan fe que viene.
Les leeré algo que llegó hace unas horas: Salió este audio: “Pastor, pastor, es oficial que se ha hecho el apagón mundial, y en este momento todo está paralizado, Nesara y Gesara ya están entradas. Por favor, vea CNN ahora…” No veo CNN, pero eso salió hace unas dos horas.
Los informes recibidos el 18 de julio son alentadores: se han comenzado a pagar 25.000 deudas de Dubai 1. 12 activan p__ fondos que se pagarán hoy o mañana. Los vendedores de 10 a 12 mega archivos __ recibirán contratos en los próximos días, los compradores de Dubai 2 recibirán fondos en los próximos días para sus archivos iniciales y preseleccionados.
Los tipos de cambio del nuevo dinar iraquí FINALMENTE se publicarán directamente en las pantallas de Forex el domingo por la noche. NOTA: Como siempre, recuerde que todos estos eventos están sujetos a contratiempos normales, pero hay muchas señales positivas que respaldan estas afirmaciones. Veremos.
Hace unas horas trascendió otra cosa: en conferencia esta mañana confirmaron la finalización de la prueba piloto y su pago total antes de finalizar esta semana. Esta prueba piloto es un requisito de la mesa de compras para iniciar todo el proceso que está previsto para finales de la próxima semana. Hoy nos enviarán instrucciones que incluyen el proceso de pago y misiva de inspección a los almacenes donde se encuentra el material.
Entonces eso es lo que está sucediendo en este momento. Tengo fe absoluta en que esto sucederá. Con suerte, recibiremos notificaciones para el grupo Tier4B en cualquier momento. Llegará cuando menos lo esperes.
Con el apagón y cosas provenientes de diferentes canales, estaba en una llamada de Zoom con mi grupo y todos dijeron que este es el fin del sistema anterior y ahora veremos el nuevo sistema. esperaremos y veremos.
Permanezca en la fe. Esto definitivamente viene.
Si tengo noticias, haré una llamada de emergencia en vivo.
********
UNA NOTA DE CARPATHIA Nuestro nuevo comienzo – El final de nuestra larga espera está a la vista. Ahora nos vemos caminando por un camino recién pavimentado hacia un nuevo destino milagroso lleno de fe y esperanza. La oscuridad de nuestros días pasados se está desvaneciendo, y el camino de nuestros días felices ahora está pavimentado por la esperanza titilante de un millón de estrellas. Seguir adelante en este momento todavía puede parecer un desafío, pero no temas, te esperan tiempos emocionantes y días increíbles y alegres, esperando abrazarte entre brazos reconfortantes de nuevas y maravillosas alegrías y lugares exquisitos.
Jordan’s Minister of Energy and Mineral Resources Saleh Al-Kharabsha announced Iraq’s agreement to extend the memorandum of understanding for crude oil processing signed between the two countries until next June 26, 2025, while noting that the price will be less than Brent by $16 due to the quality difference and the cost of transportation.
Minister Al-Kharabsha said that “under the extension of the memorandum of understanding signed on 4/5/2023, the Kingdom will be supplied no more than 15 thousand barrels per day on the basis of the monthly Brent crude oil rate minus $16 per barrel, to cover the quality difference and transportation wages,” noting that this amount constitutes 10 percent of the Kingdom’s needs for crude oil, according to Jordanian media.
He stressed “the importance of the memorandum in strengthening economic cooperation between the two brotherly countries and activating land import and the subsequent rehabilitation of the land line between the two countries and the operation of the tank fleet in Jordan and Iraq, which embodies the economic interests of Jordan and Iraq, enhances energy cooperation between them and contributes to the creation of more job opportunities and the restoration of the vital economic role of the land road between the two countries.”
Jordan imports Iraqi oil from Kirkuk, which is lower-quality oil and price from Iraqi oil in the south as well as lower quality than Brent crude, while Jordan bears the cost of transporting oil at its expense through tanks, which makes the price $16 less than Brent.