ECONOMIC REFORMS 2024-2025 OF IRAQ BY DINAR REVALUATION, 13 AUGUST

 As of 2024, Iraq is undergoing several significant economic reforms aimed at stabilizing and diversifying its economy. Here’s an overview of the key areas of focus:

1. Diversification Away from Oil Dependency

• Economic Diversification: Iraq is working on reducing its reliance on oil revenue by investing in other sectors such as agriculture, manufacturing, and tourism. The government is encouraging private sector growth and seeking foreign investment to support these industries.
• Infrastructure Development: Investments in infrastructure are planned to support non-oil sectors, including improvements in transportation, logistics, and utilities to enhance business operations.

2. Anti-Corruption Measures

• Institutional Reforms: Efforts are being made to enhance transparency and accountability within government institutions. This includes reforms to reduce corruption and improve public sector efficiency.
• Judicial Reforms: Strengthening the judicial system to address corruption and enforce laws effectively is a priority.

3. Fiscal Reforms

• Budget Rebalancing : Iraq is working on balancing its budget through better revenue management and expenditure control. This includes reforming subsidy systems and improving tax collection mechanisms.
• Debt Management: Addressing national debt through more efficient debt management strategies and seeking international financial assistance and debt relief where possible.

4. Economic and Financial Policies

• Monetary Policy: The Central Bank of Iraq is focusing on stabilizing the currency and controlling inflation. This involves monetary policies that support economic stability.
• Banking Sector Reform: Efforts are being made to strengthen the banking sector, including improving regulations, increasing financial inclusion, and enhancing banking services.

5. Investment Climate Improvement

• Regulatory Reforms: Simplifying regulations and procedures for starting and operating businesses to attract both domestic and foreign investors.
• Incentives for Investment: Offering incentives such as tax breaks and investment guarantees to encourage investment in various sectors.

6. Social and Human Development

• Education and Workforce Development: Investing in education and vocational training to improve the skills of the workforce and support economic growth.
• Healthcare and Social Services: Improving healthcare services and social support systems to enhance quality of life and economic productivity.

7. Regional Development

• Addressing Regional Disparities: Implementing development programs aimed at reducing economic disparities between different regions of Iraq, particularly in areas affected by conflict.

These reforms are designed to address Iraq’s economic challenges and create a more stable and prosperous economic environment. However, the success of these reforms will depend on effective implementation, political stability, and external factors such as global oil prices and geopolitical developments.

BY DINAR REVALUATION

LATEST FROM NADER FROM MID EAST, 13 AUGUST

 Nader From The Mid East 

 You heard them talking about corruption.  They're going to clean it up but it's going to  always be there.  It's everywhere.  It's in America.  It's everywhere in the world.  It's in Europe.  It's here.  Corruption is  corruption, the biggest corrupt people you cannot clean them cuz they have powers...You can't do anything against them. 

 What's going on in Iraq is really really good.  Last month you see me talking about this month, about July.  I said from now to July 8th you'll get some good news and that's exactly what happened.  You see every proof of possibility to revalue or reinstate.  I think it's reinstatement more than revaluation.

 Lots of things happening... I see good news coming up this week so stay tuned...What's happening now it's good.  I can say we are very close.   

Nader From The Mid East 

 Things have been moving a little bit from here to the 8th of July.  I hope we have an answer cuz that's what they shooting for.  I don't know if it's going to be good or bad...It's more good than bad but I don't want to say anything about that cuz if anything happen you're going to say, 'Hey, but you said this.  You said that.'

SUMMARY OF RV UPDATES OF NADER FROM MID EAST, 21 JUNE

I know they working on the exchange rate from here to the 8th of July.  We will have some  good news I hope.  

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Article:   "Iraq Bulks Up Gold Reserves, Inch Up World  Rankings"  Quote:  "Their holdings have grown to 145.7 tons, a bump of over 3 tons compared to 142.6 tons the previous month.  This increase...is enough to nudge Iraq one spot higher in the WGC's global ranking, landing them 31st place out of 100 countries."

Last week...I said Iraq government start a new white paper, it's all about the currency.  From here to the 8th of July we should have an answer.  What they going to do - Are they going to change the exchange rate or not?  That's what I said exactly.  They're working on it.  I know they created a white paper on that.   The CBI... government of Iraq, the reserve and the IMF are all working on the same page on those white papers.  I don't know if it's going to change or not...

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The UN agreement, 2003 when they invaded the country, now they said the last day is next year 2025.  They been talking about the end of the war and this is one of them.  That is very good news. 

 We talk about sovereignty, that's one of them.  It's good for Iraq.  It's going to make Iraq stronger and happier...Sudani what he's talking about the coalition gonna leave in 2025...it's official.

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'Nader you said it was going to happen in June.'  No I didn't say in June happen. 

 I said June they're a possibility for them to work on the dinar because each time they worked on him it's between June and August...They created a new white paper.  They're going to start working on the exchange rate and I think from here to the 8th of July.  We'll see what's going to happen.

Iraq wanted to de-dollarize.  They start de-dollarizing in January but it didn't work for them too much. 

 The government didn't expect that to happen even by telling them that the dinar are stronger...use the dinar instead of the dollar for the benefits of the country.  They tried everything.  Now, they said that plan didn't work so they come out to the new white paper...They realized they cannot do nothing without changing the exchange rate.

They're going to have to go down in the exchange rate for the de-dollarization...They're going to have to change their exchange rate...Between now and 8th of July we should have an answer...

 what they going to do?  Are they going to change the exchange rate...keep it the same...go up...go down? 

 I think they're going to have to go down on the exchange rate a lot for them to take off the dollar from the street.

https://dinarevaluation.blogspot.com/2024/06/rv-update-by-nader-from-mid-east-1-june.html

Evening News with MarkZ. 08/12/2024

"I SUGGESTED TO PAY ATTENTION TO THE ISX... SO DOES EGYPT. BY FRANK26, 13 AUGUST

 KTFA

FRANK26:"I SUGGESTED TO PAY ATTENTION TO THE ISX... SO DOES EGYPT.".............F26

Signing a cooperation protocol between the Iraqi and Egyptian stock exchanges...aims at this matter

8/12/2024

 

Baghdad
 

Today, Monday, the Chairman of the Board of Governors of the Iraq Stock Exchange, Thaer Adnan Hashem, signed a cooperation protocol to enhance joint work with the Egyptian Stock Exchange management.

The media office of the Iraq Stock Exchange stated in a statement received by "Al-Eqtisad News" that "the Chairman of the Board of Directors of the Egyptian Stock Exchange, Ahmed Al-Sheikh, signed a cooperation protocol between the stock exchanges of the two countries with Thaer Adnan Hashem, Chairman of the Board of Governors of the Iraq Stock Exchange (Iraqi Stock Exchange), in the presence of Faisal Al-Haimus, Chairman of the Iraqi Securities Commission, and Hiba Al-Sayrafi, Vice Chairman of the Egyptian Stock Exchange."

He added that "the protocol aims to strengthen cooperation ties and raise the level of coordination between the two parties, increase prospects for joint work and exchange of expertise and information in all aspects of investment and develop existing legislative procedures for both parties, in addition to working to increase investment awareness and attract mutual investments between the two countries and direct savings towards investment in securities, as well as support the transition to the digital economy to increase the competitive capabilities of both stock exchanges."

In turn, the Chairman of the Egyptian Stock Exchange, Ahmed El Sheikh, confirmed that "the protocol aims to develop joint cooperation between the two parties and exchange expertise and information regarding updating legislation, regulations, procedures, work programs and methodologies related to trading in securities, as well as exchanging periodic and annual bulletins issued by both stock exchanges, as well as exchanging periodic information related to companies registered and traded in the two markets."

He added: "We are working to provide the basic information that investors in both countries need to increase mutual investments in the two stock markets."

He pointed out that "the two parties will discuss mechanisms to support and diversify the financial products available to investors and increase liquidity in both markets," stressing that "the two parties will work to encourage capacity building and training between brokerage firms and companies listed on the two stock exchanges in a way that serves the achievement of the goals of spreading awareness and exchanging expertise."

He explained that "signing this protocol comes within the framework of implementing Article (58) of the Egyptian Stock Exchange's development strategy, which falls under the sixth axis related to "promoting and spreading financial culture, training and international relations." 

In this context, Faisal Al-Haimus, Chairman of the Iraqi Securities Commission, stressed that “signing this protocol represents a vital step towards deepening cooperation between the stock markets in Iraq and Egypt, which reflects our common keenness to strengthen economic relations between the two countries,” noting that “this agreement does not only aim to exchange expertise and information, but also seeks to develop the infrastructure of the financial markets in both countries by adopting the latest technologies and applying the best international practices.”

Al-Haimas added: “We realize that financial markets represent the cornerstone of developing the national economy, and therefore strengthening the partnership between the two markets will directly contribute to achieving sustainable economic growth and attracting foreign investments. We also believe that this protocol will open new horizons for cooperation in various fields, such as financial innovation and the development of new financial products, which will help enhance the competitiveness of both markets.”

Al-Haimas stressed the “commitment of the Securities Commission to provide full support for the success of this cooperation, noting that the Commission will work to provide the appropriate regulatory environment to implement the provisions of the protocol effectively,” expressing his “confidence that this cooperation will enhance the efficiency of the two markets, and increase levels of transparency and disclosure, which will enhance investor confidence and contribute to achieving the goals of joint economic development.”

For his part, Thaer Adnan Hashim, Chairman of the Board of Governors of the Iraq Stock Exchange (Iraqi Stock Exchange), stated: “The signing of this protocol, which was sponsored by the Chairman of the Securities Commission / Faisal Al-Haims, is an important step towards enhancing joint cooperation between Iraq and Egypt in the field of securities markets, as this agreement aims to exchange expertise and information between the two markets, especially with regard to updating the legislation, regulations and procedures related to securities trading.”

He explained that "this protocol is an opportunity to develop the infrastructure of financial markets, increase investment awareness, and attract mutual investments between the two countries. We will also work to support the transition to the digital economy, enhance the competitive capabilities of both stock exchanges, and encourage capacity building and training between brokerage firms and listed companies."

LINK

LATEST FROM JEFF, 13 AUGUST

 Jeff 

 The Supreme Judicial Council has decided it's time for the current central bank governor to retire.  Remember this is his second term.  During his first term back in the year of 2018 that's when he printed the new lower smaller category denominations notes with his signature on them.  The only reason they put him back in for a second term was to commission the rate change.  Now they're saying he's going to be forced into retirement.  No retirement date has been provided.

Jeff 

 The news is now really starting to ramp up.  Critical steps are coming forward...They're going to fall into place like clockwork.  August through September is going to be the most critical period in this investment that we've ever witnessed. 

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Jeff

  Iraq just competed their 5 year development plan...That's basically the reform plan... They completed the reform plan, that's a required step for their accession to the World Trade.

Jeff   

They haven't implement their budget yet because they're waiting for the rate to change.  Everything in Iraq...the budget, the laws, the overturning the budget, everything out there is being stalled and delayed to be timed with the rate change.

 Article: "Four counties meet in Baghdad to support the development road project" 

...You have to look at their timing.  They finished the 5-year development plan around the end of July walking into the beginning of August.  Why? Timing.  They're about to revalue.  Their actions strongly suggest to me personally IMO I really feel they're going to be revaluing in August.

 https://dinarevaluation.blogspot.com/2024/08/rv-update-by-jeff-2-august.html

 

Revolutionizing Iraq's Economy: 2024 Reforms Unveiled

"JOBS ARE ABOUT TO EXPLODE IN IRAQ FOR THEIR CITIZENS!!!" BY FRANK26, 13 AUGUST

 KTFA

FRANK26: "JOBS ARE ABOUT TO EXPLODE IN IRAQ FOR THEIR CITIZENS!!!"...........F26

It will provide 5 thousand job opportunities.. 3 central markets will soon open in Baghdad

8/12/2024

 

Baghdad
 

The Ministry of Trade announced today, Monday, the imminent opening of 3 central markets in the capital, Baghdad, after their rehabilitation work reached advanced completion rates, confirming the provision of no less than 5,000 job opportunities in each central market. 

The Director General of the Central Markets Company at the Ministry, Zahra Al-Kilani, said that “the construction, electrical and mechanical works in the central Al-Amel Market and Al-Salihiya Market are nearing completion, and we are awaiting the arrival of the goods that will be displayed in these markets, followed by the opening of the central Al-Shaab Market,” stressing that “work in the central markets has reached advanced stages.”

 She added, "The company focused on rehabilitating the central markets in Baghdad Governorate as the capital, after which it will move to the governorates, including Nineveh, Kirkuk, Najaf, Diwaniyah, Maysan and Basra."

She explained that "the Iraqi constitution urged the open market, as well as the federal budget laws that were issued after that, which urged participation with the private sector, which is a global system, so the company concluded partnership contracts with companies specialized in the field of central market activity."

She pointed out that "the statistical studies and economic tables prepared by the company in cooperation with accredited consulting offices indicate that each market will accommodate no less than 5,000 job opportunities for young people, distributed among workers, administrators, and accountants, in addition to other jobs."

She pointed out that "there are marketing exhibitions in the governorates of Diyala, Muthanna and Karbala to sell electrical and electronic devices, and the payment method is in cash or in installments."

She noted that "the company's branch building in Babylon Governorate has been transformed into a free market, and is awaiting the issuance of a customs decision from the General Authority of Customs, so that the market can begin its work and enter commercial operation."

LINK