FIREFLY:Saleh...was talking about...raising the value of the currency. He talked about it for 45 minutes.
FRANK: These are the people we want to listen to. They're the ones that Sudani is sending out to them...Everyday seems to be filled with monetary reform education to you Iraqi citizens. Don't you love it because this is what is supposed to be happening right now. They are preparing you for what they're going to give you, what they promised you. You are so close to receiving everything that they were talking to you about..
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FIREFLY: We see Saleh again on TV. This is the second time he talks to us now about the float. He's saying the float can be adventurous. We intend to have it fixed. Ours will be fixed or managed float. That is what's best at this time for Iraq and our currency. He went and talked about how...we went from 11,000 ATMs to over 55,000...in gas stations alone...
FRANK: Ever since the United States Treasury showed up last week they just cannot stop talking to you every day on the television about the success of the monetary reform...new lower notes...the new exchange rate...Now it's gone way deeper into the float.
Al-Sudani announces readiness to launch the "largest" electricity production project in Iraq
8/15/2024
Prime Minister Mohammed Shia al-Sudani announced on Thursday that his government is ready to launch the "largest" electricity production in Iraq at a rate of 10,000 megawatts.
Al-Sudani said in a speech during the ceremony to launch the executive works of the projects of three power stations in Karbala Governorate, that this project is a strategic project in electrical energy, which will be implemented according to a new economic model and a new vision that will be announced to the private sector, after it has been studied by a team of consultants specializing in electricity.
He stressed that the stability of energy sources is an encouraging factor for investment and development, and pushes for the development of sources of income by activating all other economic sectors, in addition to the ongoing work to improve the transportation and distribution sector, to deliver electricity service in a sustainable manner to the citizen, without it being a burden on the state and its financial budget.
Al-Sudani also pointed out that the combined cycle projects and solar energy projects are part of the government's plans to reform the electricity system, indicating that the launch of the solar energy project in Karbala and Babylon will continue with the rest of the governorates, which is happening for the first time in Iraq.
He stressed the importance of supporting the private sector, which represents a support for the government in facing crises, emphasizing the special nature of Karbala Governorate, which is visited by millions of visitors throughout the year from inside and outside Iraq.
The three projects launched by Al-Sudani in Karbala are: the combined cycle of the Karbala gas station with a capacity of (132 megawatts), the Karbala investment solar energy station with a capacity of (300 megawatts), and the Karbala secondary transformer station, 400 KV, with a capacity of (1500 megawatts).
It is worth noting that the three station projects will achieve an increase in the production of electrical energy, as the combined cycle of the Karbala gas station contributes to adding (132) megawatts to the currently operating station, with a total design capacity of (250) megawatts, while the Karbala solar energy investment station project is one of several important contracts concluded by the government in the field of renewable energy projects with a number of specialized international companies, including signing a contract to implement a solar energy station with a private sector company with a capacity of (300) megawatts.
As for the Karbala Banks Secondary Station 400 KV, with a capacity of (1500) megawatts, it is being implemented within the second phase of the electrical energy transmission projects, under the contract with the German company Siemens, and is the first transformer station of its kind in Karbala, and will contribute to relieving bottlenecks in the network, thus raising the level of stability and meeting the needs of the various sectors in the Middle Euphrates region.
Article: "US Treasury takes control of Iraq's Central Bank to combat money laundering"
They said that on August 3rd. It's confirming the US Treasury Department has taken permanent headquarters in the Central Bank of Iraq building. Why in the world would they do that if there wasn't something important...They're going to put the fire under them...
Quote: "The central bank was forced to allocate..." Those are pretty heavy words. Powerful.
Militia Man
Corruption...At the very last minute you're going to do something that's dramatic and you're going to create value, you're going to want to have all the bad folks under the gun and maybe even notified prior to that we got your number..
What I bring has data behind it. I'm not just making it up or just getting phone calls. I'm actually doing the work. I put it together. It takes a lot of time to put all the work together.
I like doing it because it does help so many people...You're not the only ones that are tired. Everybody in our crews can be tired at times. We all need to support...
Article quote: "Federal Integrity Commissioner...says we discussed the development in the integrity file and the government's efforts to recover funds into the Iraqi state treasury."
There's some people out there that have stolen a lot of money and that money is still floating around the world...If you stole it you're probably going to have a knock on the door...If you're playing by the rules you shouldn't have a problem. Depends on who writes the rules of course...
FRANK26: "THE UST PUTS PARLIAMENT IN ITS PLACE".........F26
Parliamentary Finance Committee to US Delegation: The Triennial Budget Represents an Important Message to Foreign Companies
8/14/2024
Baghdad
The head of the parliamentary finance committee, Atwan Al-Atwani, confirmed to the delegation of the US embassy in Baghdad, on Wednesday, that the three-year budget represents an important message to foreign companies.
The media office of the head of the parliamentary finance committee said in a statement, seen by "Al-Eqtisad News", that "the head of the parliamentary finance committee, Atwan Al-Atwani, received a delegation from the US embassy in Baghdad, headed by the Minister Plenipotentiary for Economic and Commercial Affairs, Julie Jules."
The statement added that "Al-Atwani reviewed - during the meeting - the financial and monetary situation in the country, and the role of the finance committee in monitoring the implementation of the general budget law, especially the paragraphs related to maximizing non-oil revenues or those supporting the private sector and investment."
It pointed out that "Al-Atwani addressed the most important challenges facing financial policy in Iraq, most notably the restrictions and procedures of the US Treasury, which have had a significant impact on the work of the banking sector and caused the continued crisis of fluctuations in the dollar price."
The head of the finance committee - according to the statement - touched on "the importance of the private sector entering as a major partner with the government in implementing and financing projects and providing services," stressing "his committee's determination to approve the law on partnership between the public and private sectors, in addition to amending the tax law in a manner that keeps pace with the development taking place in the work of the tax system, whether in providing services or collection."
The statement added that "the meeting discussed ways to enhance joint bilateral cooperation between Iraq and the United States within the framework of the Strategic Framework Agreement, and to activate its economic contents related to developing capabilities and helping to reform the financial and banking system."
For its part, the US embassy delegation praised "the experience of the three-year budget for its tangible positive repercussions in terms of improving the living conditions of Iraqis and enabling the government to perform its duties," stressing "its readiness to cooperate and work together with the Finance Committee to solve the existing problems between the US Treasury and Iraqi banks."
Al-Atwani stressed - according to the statement - that "the three-year budget represents an important message to foreign countries and companies that Iraq's financial situation is good and there is no obstruction or halt in contracts and implementation," explaining that "Iraq is rich in its wealth and energies and all it needs is wise management of money."
He continued, "We suffer from the problem of unfair US Treasury sanctions against 14 Iraqi banks without prior warning," indicating that "obligating Iraq to cover its foreign transactions through the platform and punishing a large number of its local banks are among the most important reasons for the continuation of the dollar crisis and the creation of the parallel market."
Al-Atwani expressed his "hope that this meeting will be a starting point for a new phase of cooperation, understanding and assistance in addressing the problem of US Treasury restrictions and procedures on the financial and banking sector."
Article: "Trade discusses the mechanism for Iraq's accession to the World Trade Points Federation"
Quote: "The Private Sector Development Department discussed with the Departments of Foreign Economic Relations and Administrative and Financial Affairs at the Ministry of Trade, the mechanism for Iraq's accession to the Federal Union of World
Trade Points, the legal procedures for joining, and the benefits that the Iraqi sectors will obtain."
Clare
Article: "Is “floating the currency” a solution to the crisis of the high dollar in Iraq? A representative explains"
Quote: "There are calls to float the exchange rate in Iraq...Floating the currency is a procedure based on liberalizing the exchange rate, leaving it to market factors (supply and demand), to determine its value without any form of intervention by the economic authority...There are two types of floating: the first is absolute floating, and the second type is managed floating, i.e. the type in which the central bank intervenes to direct the exchange rate up or down, as it sees fit to achieve the interests of the national economy."
Clare
Article: "US Treasury places Khamis Al-Khanjar on sanctions list"
Quote: "The US Treasury Department, through the Office of Foreign Assets Control (OFAC), has placed the head of the Sovereignty Party, Khamis Al-Khanjar, on the sanctions list of known individuals and entities with whom dealings are prohibited."
Article: "Central Bank Governor Participates in a Workshop Specialized in Electronic Payment" Quote: "His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, participated in a specialized workshop on accelerating the transition to electronic payment, sponsored by the Prime Minister, and organized by the Osool Foundation for Economic Development and Sustainable Development."
