LATEST FROM MILITIAMAN: THE REPONSABILITY OF IRAQ OF HAS A STABLE EXCHANGE RATE, 16 SEPT

  Militia Man  

They're talking about Iraq as going global and to the international financial system. 

 With that has responsibility and that responsibility will be defended by the central bank.  That responsibility is to have a stable exchange rate and to provide commerce throughout the country in and out and across borders, with efficiency and transparency.

   That's what they're going to have and that's what they're doing.  There's looking to be no stopping it.  It's brilliant.

Militia Man

  The IMF Article IV 2024 consultation, one of the most important things was for [Iraq] to accelerate accession to the WTO.

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Summary

Iraq’s Ministerial Council of Economy is advancing economic unity between the federal government and Kurdistan, focusing on financial reforms and salary equivalency.

Highlights

• 🤝 Collaborative Meetings: Recent meetings between the federal government and Kurdistan aim for economic unity.
• 💰 Salary Equivalency: Discussions include ensuring salary parity for regional employees.
• 🔍 Budget Reforms: Emphasis on addressing financial issues like oil, energy, and border revenues.
• 📈 Private Sector Growth: Plans to enhance the private sector’s role in the economy.
• 🌍 Global Attention: Iraq’s economic strategies are gaining international interest.
• 📊 Unified Treasury Accounts: Establishing a unified treasury for better financial management.
• ⚖️  Constitutional Rights: Ensuring all citizens benefit from new economic policies aligned with constitutional rights.

Key Insights

• 🌐 Economic Integration: The meetings signify a critical step towards integrating Kurdistan’s economy with the federal framework, promoting a cohesive financial strategy.
• 💼  Private Sector Engagement: By focusing on private sector involvement, Iraq aims to diversify its economy and reduce dependency on oil revenues, fostering sustainable growth.
• 🔗 Unified Financial Framework: The establishment of a unified treasury account reflects a commitment to transparent financial management and accountability, which is vital for investor confidence.
• 📈 Revenue Streams: The focus on oil, energy, and border revenues indicates a strategic approach to harnessing Iraq’s natural resources for economic stability.
• 🤔 Constitutional Compliance: The emphasis on constitutional rights in financial discussions demonstrates a commitment to equitable governance and fair resource distribution.
• 🏛️ Political Dynamics: The support for Prime Minister Al Sudani highlights the political backing necessary to implement these reforms, ensuring stability during transitions.
• 🚀 Future Prospects: The positive atmosphere in these meetings suggests potential for significant economic progress in Iraq, attracting global attention and investment opportunities.
• https://dinarevaluation.blogspot.com/2024/09/militiaman-cc-notes-highlights-12-sept.html

Winners & Losers: Dollar vs. Dinar in Iraq 2024

Economist: Lower oil prices will not affect dollar exchange rate and salaries in Iraq - Urgent, 16 SEPT

 Economist: Lower oil prices will not affect dollar exchange rate and salaries in Iraq - Urgent

Economic expert Mustafa Akram Hantoush explained today, Saturday (September 14, 2024), that the decline in oil prices will not affect the exchange rate of the dollar and salaries in Iraq.

Hantoush said in an interview with Baghdad Today, "The dollar exchange rates in Iraq will not be affected by the decline in oil prices, as this issue depends on supply and demand in the local market, and has no relation to the oil file and oil revenues."

He explained that "in terms of operating expenses, including salaries, they will not be affected by the crisis, even if oil prices reach $50, as the state is able to pay salaries and governing expenses."

Hantoush added that "the impact of fluctuations in oil prices will greatly affect investment programs, and that oil prices may threaten the state's investment side, as happened in the past years, including 2015, 2016, and 2017, when projects suffered from significant delays in those years."

These financial concerns reflect the challenges facing the global oil market, as oil prices have fallen significantly in recent weeks due to weak global demand, especially from China, which is the world's largest oil importer.

Every now and then, fears are circulated in Iraq about the government’s inability to pay employees’ salaries due to financial liquidity, especially since the country’s oil imports, which constitute more than 90% of the Iraqi economy, are in Iraq’s account at the US Federal Reserve.   link

LATEST FROM WOLVERINE, 16 SEPT

 Wolverine 

 [via Judy Byington]   Like I was told, September is the golden month. …I’m absolutely excited...We were told that this has started...It is my opinion that notifications should be coming out today Sun. 15 Sept, or tomorrow Mon. 16 Sept. at the latest...Have a beautiful day.

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 Sat. 14 Sept. 2024 Wolverine

 “Guys, I’ve just been told that the RV has started as Iraq is officially live on the big screen. By tomorrow Mon. 16 Sept. we should have Tiers starting to receive payment, which is liquid money. Waiting to hear more later on. 

I’m very certain that notification should come  any day now. Like I was told, September is the golden month. …I’m absolutely excited. Some people have been waiting for this for thirty years. 

We were told that this has started. It is liquid money. It is my opinion that notifications should be coming out today Sun. 15 Sept, or tomorrow Mon. 16 Sept. at the latest. 

Take care. Have a beautiful day.” …Wolverine

Later Sat. 14 Sept. 2024 Wolverine

  “All banks have paid the transactions released yesterday in their accounts. Now they just need to send the notifications to those involved. 

You can celebrate because there is no turning back. They have up to 72 hours to finalize the transaction, with the risk of a fine of 20 billion per institution. The Hague Court entered this battle and brought order to this brothel.” https://www.in.gov.br/web/dou/-/resolucao-bcb-n-410-de-11-de-setembro-de-2024-584289886

https://dinarevaluation.blogspot.com/2024/09/the-rv-has-started-by-wolverine-15-sept.html

Prime Minister Al-Sudani's Strategic Washington Visit: Economic and Secu...

DINAR REVALUATION REPORT: Baghdad's New Chapter in U.S.-Iraq Relations, 16 SEPT

Baghdad's New Chapter in U.S.-Iraq Relations

Iraqi Prime Minister Mohamed Shia Sudani, since assuming office in October 2022, has embarked on a pivotal journey to reshape Iraq's political landscape and strengthen diplomatic ties. As of September 15, 2024, Iraq stands at a critical juncture, navigating complex domestic and international challenges while pursuing an ambitious agenda for economic and political reform. 

Sudani's visit to the United States in April 2024 marked a significant milestone in Iraq's foreign policy, aimed at revitalizing and broadening the bilateral relationship beyond military cooperation. 2 The Iraqi delegation, comprising key ministers and business leaders, engaged in discussions on trade, economics, energy, and culture, reflecting Baghdad's desire to foster a comprehensive partnership with Washington. 1

Security and Sanctions

The agenda for Sudani's visit prominently featured discussions on the U.S. military presence in Iraq and U.S. Treasury sanctions. 1 These topics were of paramount concern to the Shia Coordination Framework, a coalition of Shia political and militia groups that has historically opposed U.S. interests in the region. 1 The sanctions were imposed due to the misappropriation of U.S. dollars by Iraqi banks and individuals associated with the Coordination Framework, which had facilitated the circumvention of sanctions against Iran, Syria, and Russia.  1

Economic and Political Agenda

Sudani's administration has prioritized an agenda centered on economic development, investment, and governance reform. His visit to the U.S. was aimed at attracting American business interest and investment in Iraq's economy. 2Additionally, the Iraqi leader sought to engage with the Iraqi diaspora in the U.S., encouraging their participation in Iraq's growth and further strengthening the bilateral relationship. 2

Domestic Challenges and Achievements

Political Environment

Sudani has navigated the complex and often fractious Iraqi political landscape with a pragmatic approach, attempting to balance the demands of various factions while pursuing his policy agenda.  3 Despite the challenges, he has managed to maintain relative stability and support from key stakeholders. 3

Economic and Developmental Agenda

The prime minister's first year in office has seen mixed results in implementing economic reforms and developmental projects. 3 While progress has been hindered by political and budgetary constraints, Sudani's government has made efforts to address corruption and promote transparency. 6

Visualizing Iraq's Economic Progress

To better understand the economic landscape under Sudani's leadership, let's examine a timeline of key economic reforms and developments. 4

Al-Sudani: Iraq today is on the right path, 16 SEPT

 Prime Minister Mohammed Shia Al-Sudani, during a dialogue seminar by the Anki Foundation for Studies and Research on the path to development, in the presence of Mr. Al-Hakim:

Iraq depends on oil as the only source to cover its expenses, which have begun to increase.

The development path needs more study and clarification.

We must think properly to activate sectors that support oil.

- There must be projects that suit Iraq to be a focus of development.

We have started establishing and implementing the development road project, which will transform Iraq into an open country.

We have unnatural materials that have not been exploited in industries and the strategic location of Iraq. 

We are in the planning, design and other studies phase and we have approached the World Bank to begin implementing the development road from Basra to Mosul.

Capital finds opportunity in Iraq amid security and political stability

- Many capitals want to invest in Iraq

Iraq today is on the right track

Iraq is witnessing recovery and stability and everyone needs his return

Iraq will enter the gas market after investing in several fields

Iraq is the best corridor in the communications and optical cable file 

Providing job opportunities is one of the reasons that prompted us to proceed with the development road project.

We concluded the Faw Investment Refinery contract and it was activated.

With these projects, we will recreate the experience of the sixties and seventies to work in the private sector to provide job opportunities.

- The railway designs for the development road project have been fully completed.

- The third meeting of the Ministerial Council on the development path will be held next November.

We have started preparing a study on forming a body to manage the development road project.

- We have made real reforms in the tax and banking system.

There is no spot on Iraqi territory outside the control of our security forces, and we have directed the preparation of a comprehensive plan to secure the path of development.

The development road project needs 5 years to be completed.  link