Buried Riches”: Gas Discovery in Iraq a Ray of Hope for Economic Development, 4 SEPT

  Buried Riches”: Gas Discovery in Iraq a Ray of Hope for Economic Development

 Iraq has recently achieved remarkable progress in the energy sector, especially in the field of natural gas discovery. These discoveries represent an important strategic step towards achieving energy security and strengthening the economy in general, and they also open new horizons for investment and development in this vital sector.

In recent years, oil companies and the Iraqi government have announced new discoveries of gas patches in several areas. Among these discoveries, the Anbar region stands out as a major location where important gas deposits have been discovered.

According to industrial sources, the new discoveries include large quantities of dry gas, a type of natural gas that contains low levels of sulfur and is used in many industrial applications. This type of gas is used in power generation, as an industrial fuel, and in the production of chemicals, making it an important resource for the industrial and energy sectors.

The Iraqi government is working to enhance investment in these discoveries through partnerships with international energy companies. Agreements have been signed with multinational companies to develop the infrastructure necessary to extract and purify gas. It has also been agreed to implement projects to extend gas pipelines and modernize refining stations.

Building infrastructure is an important step, as extracting natural gas and delivering it to markets requires complex facilities including pipelines, refining facilities, and pumping stations.

These projects require huge investments and careful coordination between the various parties concerned, and the government is working to improve the legal environment to attract foreign investment, including improving contracting terms and simplifying bureaucratic procedures.

Despite the optimism that accompanies new gas discoveries, there are a number of challenges facing the exploration and production process. These challenges include the need for modern technology and technical expertise, in addition to the difficult geographical conditions that may affect drilling and transportation operations.

Great economic opportunities

On the other hand, developing the natural gas sector in Iraq opens up great economic opportunities. In addition to improving energy security, this sector can contribute to creating new job opportunities, increasing national revenues, and enhancing economic growth. Exporting gas to international markets can also provide an important source of financial returns.

“The discovery of new gas blocks in Iraq represents an important strategic opportunity for the country as it provides a strong foundation for developing the energy sector and enhancing economic independence,” said retired gas expert Dr. Sami Al-Jubouri, who held positions in major energy companies. “However, it is necessary to focus on improving the infrastructure and applying the latest technologies to ensure efficient and safe gas extraction, through cooperation with international companies, which will enhance Iraq’s ability to optimally exploit these resources.”

“The challenges facing the country include the need to develop local technical capabilities and increase operational efficiency, as well as manage resources sustainably to ensure long-term benefits,” Dr. Al-Jubouri added to the Iraq Observer.  link

Currencies Set to Increase in Value Short Term IQD, VND, MEX, INR How Iraq Could Do the Same BY SANDY INGRAM, 4 AUGUST

 SANDY INGRAM

Currencies Set to Increase in Value Short Term IQD, VND, MEX, INR How Iraq Could Do the Same - 

03/09/2024, 14:37:18

3:13

In this video we will examine currencies that may increase in value in the near future based on Wall Street's perspective versus how everyday people determine profit potential.

The russian ruble has lost 27% this year and the turkish lira is down 52%, according to Reuters.

Only a few asian currencies such as the indian rupee, thai baht and south korean won are expected to recoup the losses by late 2024.

So if you are looking for short term profits, you may want to research Indias currency, the rupee moving across the pond to Latin Americas currencies, the brazilian real and mexican peso gained around 8% and 11% in 2024, respectively.

The mexican peso is expected to lose around 4.5%, while the brazilian real is predicted to lose just over 2% in twelve months.

Now let's talk about another way investors are gaining perspective on potential currency profits.

There is a major shift in Americans, Canadians and european retirees moving to certain destinations around the world.

Sandy, the publisher of this channel, is part of that group and has recently spent time in Mexico, Central America, the Caribbean and Colombia as a retiree.

She is now in Brazil, a country that is a founding member of BRICS.

More on that in an upcoming video.

Sandy recommends taking a look at the colombian pesos for its profit potential.

Because Americans, Europeans and Canadians arrive at the Bogota International Airport and stay in Colombia for 30 to 90 days at a time.

The Internet is fast, the city is clean, the people are accommodating, and it is a positive experience.

When you go to the grocery store.

Plus, a luxury condo overlooking the city or the mountains will set you back no more than $500 to $700.

That includes 24/7 security staff.

Sandy reports that her rent was $525 for one month overlooking the city in downtown Bogota.

These factors draw people to a destination.

When more people arrive, rents go up, the value of the currency increases.

This pattern has been repeated in Mexico, parts of Costa Rica, the Bahamas and other destinations with a high quality of life.

Sandy personally knows ex pats who earned substantial profits from the USD Mex swings.

Of course, if the country does something not in the best interest of the United States or the us citizens living there, that government often finds itself on the US State Department's travel warning list.

And if things are not returned to what they deem normal, the country's currency often decreases in value.

Now, returning to the pages of the Wall Street Journal and famous economists, they will quickly tell you that currency reserve inflation, political stability, interest rates.

Dr. Shabibi's Master Plan: The Untold Story of the Iraqi Dinar

DINAR REVALUATION REPORT: Legal Document Detailing Corruption Files in Previous Iraqi Governments, 4 SEPT

 Legal Document Detailing Corruption Files in Previous Iraqi Governments

In 2024, Iraq's government under Prime Minister Mohammed Shia al-Sudani is grappling with the legacy of corruption that has plagued the country for decades, following years of armed conflict and political instability. 1

Corruption in Iraq: A Historical Perspective

Corruption has been a persistent issue in Iraq, deeply impacting various aspects of governance and public life. The country's complex political landscape, coupled with high oil revenues and weak institutional frameworks, has created an environment where corruption thrives. 4

The Theft of the Century

One of the most notorious cases of corruption in recent years involved a staggering $2.5 billion embezzlement scandal, often referred to as "the theft of the century." This case highlighted the brazenness and scale of corruption in Iraq, involving politicians, Ministry of Finance officials, bank clerks, and businessmen. 4

Systemized Corruption

Corruption in Iraq is not merely a series of isolated incidents but a systemic issue. The political elite have been accused of devising, managing, and protecting corrupt practices, using their positions to divide power and resources among themselves.  4

International Aid and Corruption

The issue of corruption extends to international aid projects, with allegations that UNDP staff involved in post-war reconstruction projects in Iraq have demanded bribes in return for helping businessmen win contracts. 5 This has undermined efforts to rebuild the country's infrastructure and services.

Legal Mechanisms and Accountability

Iraq's judicial system has been criticized for corruption and political interference, presenting high risks for businesses and undermining the rule of law. 6 However, the government has made some efforts to address corruption, appointing new judges and launching investigations into several cases involving high-ranking officials. 6

Special Commercial Courts

Iraq has established special commercial courts in Baghdad, Najaf, and Basrah for disputes involving foreign investors, aiming to improve the efficiency of commercial cases.  6 However, the enforcement of contracts remains problematic due to unclear regulations and corruption. 6

Current Government's Agenda

Prime Minister al-Sudani's government has centered its agenda on combatting corruption as a priority, alongside addressing unemployment, poverty, economic reform, and improving government services. 1 Despite these efforts, significant challenges remain in implementing structural reforms and addressing the grievances of Iraqi citizens. 1

Conclusion

The legal document detailing corruption files in previous Iraqi governments is a testament to the pervasive nature of corruption in the country. As of 2024, the government under Prime Minister Mohammed Shia al-Sudani is working to address this issue, but significant work remains to restore public trust, strengthen institutions, and ensure accountability.

A Legal Document Detailing The Opening Of Corruption Files In Previous Governments, 4 SEPT

 A Legal Document Detailing The Opening Of Corruption Files In Previous Governments

 
September 2, 2024  Baghdad/Iraq Observer  Followers commented on the government’s efforts to fight corruption by saying:
 
“This is credited to the government of Muhammad Shiaa Al-Sudani, which has shown a significant decline in corruption operations and in various official sectors, while they indicated that
 
those who work to distract it from its national approach confirm that it is from the opposite side of some of the parties that were attacked.” Its interests, which have no balance due to it.  They said:
 
“The campaigns aimed at arousing public opinion and obstructing the state’s work in various fields mean that there are those who insist on backwardness and barbarism,” while
 
they commented on the inaccurate information that was provided to divert the investigation from its correct path, and that
 
direct accusation of the government regarding issues that are now subject to judicial review.
 
“It confirms once again that they have been banned and may be involved in corruption cases.”

And you have life in retaliation
 
In turn, legal researcher Ali Al-Tamimi confirmed:  
“The Sudanese President’s opening of an investigation into the raised cases of corruption, eavesdropping, fraud and fraud in previous sessions is a legal procedure in accordance with Article 17 of the State Employees Discipline Law and also Articles 15 and 16 of the Cabinet Regulations 2 of 2019.”

 Al-Tamimi told the  “Iraq Observer” agency that what the committee decides is what is binding either on referring the accused to the judiciary and everyone whose name appears in the investigations or making administrative decisions regarding withdrawal and residency, and
 
this approach is what the Sudanese government clearly confirmed in the ministerial curriculum.  The legal expert explained:
 
“The major campaign launched by the Integrity and Crime Follow-up Commission in accordance with the principle that no one is above the law, including those accused of special degrees, whatever they may be, is an approach that is consistent with the goals of criminal punishment that aim to deter and achieve social justice.
 
It is also consistent with the philosophy of criminal law that It aims to prevent the commission of crimes in the future, according to the principle of cleaning the ladder from top to bottom.  According to Al-Tamimi:
 
 “This campaign needs to be implemented retroactively, especially since these crimes are not subject to statute of limitations or the passage of time, and
 
they relate to public funds in accordance with Article 27 of the Iraqi Constitution, and it follows an internal and external line in terms of recovering the accused and the funds.”
 
The legal expert pointed out that this needs to be accompanied by a media and awareness campaign about the seriousness of these crimes and their harsh punishments according to Iraqi laws. Also,
 
we should not forget the role of clerics and schools and we suggest that these crimes be taught in schools and colleges, to work according to a future strategy.  He stated:
 
 “The Integrity Commission also dared us with another principle, which is money before the accused, and it also helped in recovering the looted money internally and externally.

SALAH TALK ABOUT BRUSHES AND POWER IQD DINAR BY NADER FROM MID EAST, 3 SEPT

 NADER FROM MID EAST 

Salah talk about brushes and power iqd dinar 

03/09/2024, 14:25:14

3:16

Saleh told Euphrates news that the phenomenon of the increase in sales of foreign transfers from foreign exchange is due to the results of the important change that took place in the policy of the central bank of Iraq in dealing with foreign transfer and interfering in the monetary market through the shift in foreign trade financing mechanisms for the private sector from a compliance platform to new mechanisms represented in strengthening the accounts of correspondence of iraqi banks abroad with foreign exchange at deliberate and sufficient levels commensurate with the requirements of financing foreign trade for the private sector of foreign exchange.

He added, after the compliance platform previously refused, during the past months about 85% of external transfer requests, the policy of strengthening the accounts of iraqi banks with their correspondence from sober international banks became as an alternative policy which is easy, easy and flexible, which made the implementation of daily external transfer requests available and achieved through foreign correspondent banks directly without passing through the platform and with a high percentage of 85% of the total demand for those daily external transfers.

Saleh this high change in the flexibility of transfers has reflected positively on the national economy, especially in the stability of the total supply and demand functions within the national economy in two directions, the first of which is supply side, represented by the availability of a wide commodity and service supply in the local market through flexible imports funded at the fixed official exchange rate of 1320 dinars per dollar, he explained.

The other trend is the demand side, which refers to the process of exchanging the iraqi dinar to dollars for the purposes of financing foreign trade through the aforementioned transfers, which means that meeting the demand for the dollar represents a direct meeting of the demand for foreign goods, services and benefits for the benefit of the local market.

He pointed out that meeting the demand for foreign currency is an important pillar of the monetary policy of the central bank of Iraq and achieving its operational objectives in addressing and controlling the excess domestic liquidity levels of the dinar, which constitutes the so called oversaymon.

This control of local liquidity also represents a positive.

Iraq's Corruption Crisis: Political Protection Unveiled