LATEST BY CLARE, 20 AUGUST

  Clare 

  Article: "Government advisor explains the possibility of using the dinar instead of the dollar in oil sales"  Quote: "Will it be a fixed exchange system supported by foreign reserves or will it be a flexible exchange system in which the (petrodinar) changes with the change in oil prices? These are paths that have no answers on the ground and are really very ambiguous"

Clare 

 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."

RECENT REPORTS OF CLARE: 

"RV UPDATE" BY CLARE, 9 AUGUST

https://dinarevaluation.blogspot.com/2024/08/rv-update-by-clare-9-august.html 

LATEST FROM CLARE, 6 AUGUST

https://dinarevaluation.blogspot.com/2024/08/latest-from-clare-6-august.html 

RV UPDATE BY CLARE, 4 AUGUST

https://dinarevaluation.blogspot.com/2024/08/rv-update-by-clare-4-august.html

Iraq Stays Clear of Grey List: Central Bank Update

THE IMPORTANCE OF THE MEETING OF JUDGE FAIQ ZEIDAN AND THE US EMBASSY BY DINAR REVALUATION, 20 AUGUST

Judge Faiq Zeidan and the US Embassy Judicial Attaché Meeting in August 2024

Judge Faiq Zeidan, a prominent figure in Iraq's legal system, met with the judicial attaché at the US embassy in August 2024 to discuss a series of joint legal files. 1 The meeting underscored the ongoing collaboration between the Iraqi judiciary and the US legal system, highlighting efforts to strengthen bilateral ties and address mutual legal concerns.

Importance of the Meeting

The discussion between Judge Faiq Zeidan and the US embassy's judicial attaché centered on various joint legal files that are crucial for both nations. These files typically encompass a range of issues, including extradition requests, mutual legal assistance in criminal matters, and the handling of cases with cross-border implications.

Strengthening Legal Cooperation

The meeting was part of broader efforts to enhance legal cooperation between Iraq and the United States. By addressing joint legal files, both parties aimed to streamline judicial processes, improve the sharing of information, and ensure that their legal systems remain compatible and responsive to each other's needs.

Impact on Iraq's Legal Landscape

Judge Faiq Zeidan's engagement with the US embassy's judicial attaché also reflected Iraq's commitment to modernizing its legal framework. The Iraqi judiciary has been working to align its practices with international standards, and such meetings are key to achieving these goals.

Challenges and Opportunities

While the meeting underscores the progress made in legal cooperation, it also highlights ongoing challenges. Issues such as the sovereignty of national legal systems, the complexity of international law, and the need for effective communication remain critical to the success of such collaborations.

Conclusion

The August 2024 meeting between Judge Faiq Zeidan and the US embassy's judicial attaché marked a significant step in the ongoing legal dialogue between Iraq and the United States. Through continued engagement and cooperation, both nations aim to address joint legal files effectively, fostering a stronger, more integrated legal relationship.

Judge Faiq Zeidan receives the judicial attaché at the US embassy and discusses with it a number of joint legal files, 20 AUGUST

 Mawazine News – BaghdadThe President of the Supreme Judicial Council discussed, on Sunday, with the American judicial attaché Ellen Andrezi, the joint legal files between the two countries.

The Media Center of the Judicial Council, received by Mawazine News, stated that “the Chairman of the Supreme Judicial Council, Judge Faiq Zidan, received today, Sunday, the judicial annex to the US Embassy in Baghdad, Ms. Ellen Andrezi.”
“Judge Zidane discussed with her a number of common legal files,” he added.

https://www.mawazin.net/Details.aspx?jimare=253517

LATEST FROM NADER FROM MID EAST, 19 AUGUST

 Nader From The Mid East

  The U.S. is not a hold up.  You guys can call it like that but the US is not a hold up.  They want to really help the economy in Iraq.  Because they destroy it, now they want to build it again.  They're waiting for the right moment to put it back normal.

 Nader From The Mid East 

 1310...1160...1400 never worked.  They just come out with number and give it to us and sometime you wake up and they take 1310 and sometime you can wake up and they tell you 1160 and sometime 1400...Don't tell me it worked because I know in my heart it's not 1310.  It never worked for 21 years.  It made the people poor.  It made the economy bad.  If it's going to stay like that the next couple of years it's going to make the economy worse.  They're going to have to change it.

[Iraq former government/UN employee friend Imad from Basra update]  

Question:  "Have they come out with the new notes in Iraq?" 

  No.  They working on it.

 [Iraq former government/UN employee friend Imad from Basra update]   

Question:  "The Untied States, do they have anything to do with the Iraq currency?"  

Of course, yes, they control it.  They have some interest between the two countries. 

https://dinarevaluation.blogspot.com/2024/08/latest-from-nader-from-mid-east-17.html

FRANK26….8-19-24….TEN YEARS

Urgent In numbers.. The Central Bank buys dollars from the Ministry of Finance in an unprecedented move since 2003, 19 AUGUST

 Urgent In numbers.. The Central Bank buys dollars from the Ministry of Finance in an unprecedented move since 2003

An economic expert revealed an “unprecedented” figure for the value of the dollars purchased by the Central Bank of Iraq from the Ministry of Finance during the month of July.

The Central Bank of Iraq purchased $9.6 billion from the Ministry of Finance in July 2024, the highest value since the bank began purchasing dollars from the ministry in 2003," Manar Al-Obaidi said in a statement received by {Euphrates News}.
He added, "The purchases did not exceed this value during the past ten years except once in October of last year, at $10 billion."

Al-Obaidi explained, "Thus, the rate of dollar purchases from the Central Bank for the year 2024 has reached $5.9 billion per month, the highest over the past ten years, with an annual growth rate of 10%. The growth rate had previously risen in 2023 to 20%."

He attributed "this increase in purchases to the Ministry of Finance's need for local currency to cover its increasing expenses over the past years, especially with the increase in operating spending and raising the level of spending in the 2023, 2024 and 2025 budgets."

Al-Obaidi expected that "this rate will rise in the coming months with the Central Bank's inability to meet the need for Iraqi dinars, which may force it to increase the issued monetary mass to meet the ministry's expenditure needs."  link