...quiet on the RV front...All we have is rumors of the HCL is in the Kurdish regions where they made a couple changes and sent it back to the parliament…so it is now with them. We heard parliament has agreed on it and now we are waiting for them to say Boom – it’s done.So in Iraq they seem excited that Alaq is going to gone and the pending public
approval of the HCL. I am still hearing there is an opportunity for HCL to pass before the weekend is out.
My contacts on the ground in Iraq say...they expect to see sudden movement and HCL..
.I am hearing is they expect to announce completion and ratification of the HCL this week...I hope they are correct.
My contacts are saying how excited they are about Alaq stepping down. There are many confirmations now that Alak has resigned. I have a contact in the finance ministry who says there is a lot of excitement in Iraq because they believe he was one of the last roadblocks they needed to remove. We do know that Sudani has made it very clear that the revaluation or change in rates lies in the CBI’s hands. So I am going to take this as good news.
The financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, denied the existence of a problem with the cash liquidity in the Iraqi currency.
Saleh said in a press statement, "There is no problem with liquidity at all because it is covered by foreign currency," indicating that "the mechanism for obtaining cash liquidity is that oil sales are converted into US dollars, and when the government needs the dinar for internal exchange, it exchanges oil sales for dollars and goes to the cash issuing bank, which is the central bank, to give it the currency."
He pointed out that "the Central Bank, in order to maintain market stability, sells foreign currency to the market through a currency sale window and auction, to withdraw liquidity again and then repeat it again to achieve natural growth in the issued currency."
Regarding the size of the monetary mass, Saleh explained that “there was an increase in liquidity during the year, as the issued currency became around 100 trillion dinars, after it was 80 trillion dinars,” stressing that “these booms do not have an impact as long as they are covered by foreign currency.”
The Prime Minister's financial advisor believes that economic circles around the world were surprised by the sharp fluctuations and declines in the US stock market amid a wave of panic over fears of a possible recession in the world's largest economy, and that "these declines were based on a combination of local and global economic factors that led to a weakening of investor confidence in the performance of the US economy. If the situation continues for six consecutive months, the recession will turn into a major depression that will hit all economies around the world."
Saleh pointed out that “the US Energy Information Administration had previously announced that it expected average prices to reach about $89 per barrel for the rest of 2024, but there is a gradual decline in global oil prices, which has begun to coincide with the decline in the value of financial assets in the US markets, especially the decline in the benchmark oil (Brent crude), which ranges around $76 per barrel for futures contracts after reaching nearly $88 per barrel last June, which requires more caution and economic precaution.”
link
Article: ”Central Bank Governor's Resignation: Admission of Failure or Escape from the Repercussions of the Financial Crisis?"
Quote: "Tuesday, that Al-Alaq decided to submit his resignation after facing multiple problems in the financial sector, in addition to his inability to fulfill his promises to control the exchange rate. This request comes at a sensitive time for the Iraqi economy, which suffers from severe fluctuations in exchange rates and direct impacts on the local economy."
Article: "The Iraqi Stock Exchange achieves “positive results” in light of the major and accelerating collapse of global stock exchanges!"
Quote: "the Iraqi Stock Exchange, unlike the world, achieved positive results for this day, unlike the data of Arab and international stock exchanges, indicating that the stock exchange in Iraq operates in a business environment that is almost separate from international markets."
State of Law coalition member Saad al-Quraishi confirmed that political and economic interests are behind the continued presence of American forces inside Iraq.
Al-Quraishi told Al-Maalouma, “Political and economic interests may be an excuse used by some parties to keep American forces inside Iraq and not take a decisive decision to leave the country.”
He added, "Iraq cannot currently remove American forces from its territory due to the lack of political will." He stated that "Iraq will not benefit at all from the presence of American forces on its territory, as Washington is the first party to benefit from the presence of its forces inside Iraq to ensure its dominance over the region."
He pointed out that “the American presence in Iraq was imposed by Washington and not at an Iraqi request.” link
Alaq, all kinds of crap coming out about him...Seems to me they were hip to what was going on damn near a year ago and this would explain whey there's so many restrictions taking place with the Iraqi Bank as well as other banks in Iraq and why it is that the United States felt like they had to take up a whole entire floor inside the Central Bank of Iraq...
The Central Bank of Iraq was forced to allocate an entire floor to the US Treasury department to monitor money transfer operations and prevent any illegal activities. Talk about a very clear violation of Iraq's sovereignty. This is how bad things have gotten...
The United States has now taken up permanent residents within Iraq's central bank...
Article: "The Governor of the Central Bank of Iraq resigns" He's pressured out. There's all kinds of crap happening...he was behind some shady things and it looks like now he is resigning. They are going to say it had to do with his retirement