MELANIE HINDS CC NOTES HIGHLIGHTS, 8 SEPT

 MELANIE HINDS CC NOTES HIGHLIGHTS

Summary

SHE discusses recent developments regarding the Iraqi dinar, including market updates, military cooperation with Turkey, and the Central Bank’s progress in currency reforms.

Highlights

• 🔥 Forex closed at 5 PM, leading to a 24-48 hour pause in trading. ⏳
• 🌍 Turkey may open new border crossings with Iraq, enhancing security cooperation. 🚧
• 💡 Iraq’s North Gas Company is diversifying income streams, boosting liquid gas and sulfur production. 💧
• 📊 The dollar remains at a low due to uncertainties surrounding the Federal Reserve’s decisions. 📉
• 🤝 Significant progress in security talks between Iraq and the US Federal Reserve has been achieved. 🇺🇸
• 🎉 The Central Bank of Iraq is nearing completion of its electronic transfer processes. 🔌
• 🙏 A reminder to stay positive and focused on the big picture amidst ongoing developments. ✨

Key Insights

• 📈 Forex Market Dynamics: The Forex closure indicates a strategic pause, allowing traders to reassess market conditions and expectations. This can create volatility but also opportunities once trading resumes. ⚖️
• 🤝 Turkey-Iraq Relations: Strengthened border cooperation reflects significant diplomatic progress and could lead to increased economic ties, enhancing regional stability. 🌍
• 🌱 Economic Diversification: Iraq’s North Gas Company’s initiatives signal a move towards sustainable economic practices, crucial for long-term resilience against market fluctuations. 🌿
• 📉 US Dollar Uncertainty: The dollar’s low value amidst Federal Reserve speculation shows the interconnectedness of global currencies and the importance of monitoring US economic data closely. 🔍
• 🔒 Security Cooperation: Enhanced military collaboration between Iraq and the US signals a commitment to combatting terrorism and improving regional security, which is vital for economic stability. 🛡️
• ⏳ Progress in Currency Reform: The nearing completion of the electronic transfer process indicates that Iraq is on track with its financial reforms, which may positively impact the dinar’s value. 🚀
• 🌟 Positive Outlook: Encouragement to remain hopeful and focus on the broader economic landscape, reminding viewers that patience is key in investment strategies. 💖

Pentagon: No Timeline for Iraq Troop Withdrawal Yet

DINAR REVALUATION REPORT: Pentagon: No Timeline for Troop Withdrawal from Iraq Yet, 8 SEPT

 Pentagon: No Timeline for Troop Withdrawal from Iraq Yet

As of September 7, 2024, the Pentagon has not provided a definitive timeline for the withdrawal of U.S. troops from Iraq. 1 Despite ongoing negotiations and discussions regarding the future of the U.S. military presence in the country, no specific dates have been announced. 6

Current Military Presence

Approximately 2,500 U.S. troops are currently deployed in Iraq as part of the international coalition formed in 2014 to support the Iraqi government in defeating the Islamic State (ISIL). 3 The coalition's main objective was to assist Iraqi security and military forces in their fight against ISIL.

Bilateral Talks

In recent months, the U.S. and Iraq have engaged in bilateral talks to address the future of the U.S. military presence in the country.  2 These discussions have included the formation of a joint commission to oversee the winding down of the coalition's military mission in Iraq. 3

Regional Instability and Public Calls

The urgency of the talks has been heightened by regional instability and public calls from the Iraqi government for the withdrawal of U.S. troops. 4 These calls have been in response to U.S. airstrikes targeting Iran-backed militants who have been attacking U.S. personnel in Iraq.  5

Advisory Role

Discussions are also underway to establish a new advisory role that could involve a smaller number of U.S. troops remaining in Iraq after the main drawdown. 6This advisory capacity would focus on supporting Iraq's security forces and ensuring that ISIL cannot resurge. 4

Pentagon: No timeline to withdraw troops from Iraq yet, 8 SEPT

 Shafaq News/ A Pentagon official confirmed, on Friday, that the United States is aware of media reports regarding possible plans to withdraw US troops from Iraq but has not set any specific timelines.

The US government is “not ready yet to announce any dates,” the official stated in a press briefing.

Earlier, Reuters reported that the United States and Iraq have reached a preliminary agreement on the withdrawal of US-led Global Coalition forces from Iraq, quoting sources familiar with ongoing negotiations.

Sources said that the plan, which has been broadly agreed but awaits final approval and a formal announcement, would see several hundred troops depart by September 2025, with the remaining forces set to leave by the end of 2026.

“We have an agreement. It is now just a question of when to announce it,” a senior US official said.

Discussions are also underway to establish a new advisory role that could see a smaller number of US troops remain in Iraq following the drawdown, sources added.

An official announcement was initially expected weeks ago but was delayed due to regional tensions stemming from Israel’s war in Gaza and remaining logistical details, according to sources, including five US officials, two Coalition representatives, and three Iraqi officials, all speaking on condition of anonymity.

Technical negotiations between Baghdad and Washington, initiated by Iraqi Prime Minister Mohammed Shia Al-Sudani in January, have concluded. Farhad Alaaldin, the prime minister’s foreign affairs adviser, said the talks marked a shift in the US-Iraq relationship, emphasizing future bilateral cooperation in military, security, economic, and cultural sectors. Alaaldin did not comment on the specifics of the plan.

The agreement follows months of rising tensions, including attacks by Iran-backed Iraqi factions on US forces, which have killed three American troops and injured dozens more. US forces have retaliated with airstrikes, complicating efforts to stabilize Iraq after years of conflict.

The US currently has 2,500 troops in Iraq and 900 in neighboring Syria, part of a Coalition formed in 2014 to combat ISIS. While ISIS has been territorially defeated in Iraq since 2017, Us forces remain to support operations against the group in Syria.

Under the terms of the deal, Coalition forces will leave the Ain al-Asad airbase in al-Anbar governorate and scale back operations in Baghdad by September 2025.

Some US and Coalition forces are expected to remain in Erbil until the end of 2026 to support ongoing operations in Syria.

Prime Minister Al-Sudani has emphasized that US troops, while helpful, have become a target for instability, with attacks on their bases prompting uncoordinated retaliatory strikes. For the US, the two-year timeline allows flexibility for adjustments should the regional security situation evolve, a US official said.

Shafaq.com

LATEST FROM TNT, 8 SEPT

TNT 

• Fri. 6 Sept. 2024 TNT Update
•  The rates are still live. All kinds of meetings yesterday . Everyone says it’s going to happen by Monday. Some believe this evening.
• -

Fri. 30 Aug. 2024 TNT Tony

 “As of today, Iraqi banks can do international transfers with the dinar. The lower denomination dinars are supposed to be available in all regions of the country by tonight.

 All the 3-letter agencies and the banks say that there is nothing left to do except wait. Tony was told he should be getting the 800 number in the next few hours. We should have appointments to exchange this weekend. 

The banks have a set time to start the exchanges.

 It’s supposed to be between now and Sunday, according to the 3-letter agencies. The banks were told that we should start by Sunday. So after 5 pm Eastern today to Sunday is the window.

 Tony thinks it’ll start on Sunday. The basic rate for the dinar at the exchange centers is supposed to be $7-8, and the basic rate for the dong is $2-3. … 

Tony says all of his sources are still saying the same thing…it’s all DONE. He said Alaq came to the U.S. on Monday. SO this just came out and now 13 Iraq banks are now approved to interact in International banking…. to use any currency they want to include theirs….what does that mean… RV. He said he was told right before the call that our 800 numbers are coming out later today (after 5PM). 

He heard the window is going to be WIDE OPEN after 5PM to Sunday.  The banks told him they were told they would start BY SUNDAY. He is getting texts as the call continues and his bankers are saying they plan on working all weekend through the holiday.”

https://dinarevaluation.blogspot.com/2024/08/another-prediction-of-rv-of-tnt-31.html

IRAQ'S BOLD MOVE: 6 YEAR ANTI CORRUPTION STRATEGY TO COMBAT CORRUPTION

DINAR REVALUATION REPORT: Iraq's Six-Year Strategy to Combat Corruption: An Update for 2024, 7 SEPT

 Iraq's Six-Year Strategy to Combat Corruption: An Update for 2024

In an effort to tackle the pervasive issue of corruption, the Federal Commission of Integrity in Iraq has announced its determination to draw up a six-year strategy aimed at addressing this critical problem[^1^].1 This ambitious plan comes at a time when Iraq is grappling with the aftermath of decades of armed conflict, seeking to stabilize and reform its governance systems[^2^].2

Background on Corruption in Iraq

Corruption has long been a major concern in Iraq, affecting various sectors and undermining public trust in the government. The most recent scandal, dubbed "the theft of the century," involved the embezzlement of $2.5 billion from an idle government account[^2^].2 This incident, among others, has highlighted the extent to which corruption is embedded within the state apparatus, implicating high-ranking officials and compromising accountability mechanisms[^2^].2

The Role of the Federal Commission of Integrity

The Federal Commission of Integrity, established as Iraq's foremost anti-corruption body, shoulders the strategic responsibility for monitoring and ensuring national compliance with the provisions of the UN Convention Against Corruption (UNCAC)[^3^].<a target="_blank" rel="noopener noreferrer" class="w-full h-full flex items-center justify-center no-underline" href="https://ina.iq/eng/33055-commissioner-hanoun-using-digitization-as-a-foundation-we-plan-to-create-a-six-year-national-strategy-against-corruption.html[^4^] This commission is at the forefront of national efforts to reduce the risk of corruption, serving as the strategic mechanism for the formulation, implementation, and governance of anti-corruption strategies[^4^].4

The New Strategy: Key Objectives and Approach

The proposed six-year strategy aims to mobilize ministries, institutions, and other key stakeholders through a comprehensive policy and regulatory framework designed to assist Iraqi institutions in reducing systemic corruption[^4^].4 This includes the use of digitization as a foundational tool to enhance transparency and efficiency in governance[^3^]

International Support and Collaboration

The European Union Advisory Mission (EUAM) Iraq has been actively engaged in supporting the national anti-corruption agenda through its partnership with the Federal Commission of Integrity, key stakeholders, and international organizations such as the UNDP[^4^].4 Such collaboration is crucial in addressing the complex phenomenon of corruption, which poses a significant risk to Iraq's stability, national security, and economic development[^4^].4

Conclusion

As of September 7, 2024, the Federal Commission of Integrity's commitment to combat corruption through a strategic, multi-year approach is a significant step in the right direction. By leveraging international support and prioritizing digitization, Iraq is positioning itself to tackle corruption more effectively and promote good governance.