Iraq signs $290 million loan agreement with Austrian bank, 19 SEPT

Alsumaria News – Economy

The Minister of Finance, Taif Sami, signed with the Austrian Ambassador to Baghdad a loan financing agreement from the Austrian Erste Group Bank to support the center pivot irrigation systems project for the Ministry of Agriculture, with a value of (262,155,298) euros, and implemented by the Austrian Power Company .

And she said

Ministry of FinanceIn a statement received by Sumaria News, “The agreement is consistent with the strategy

NationalFor Iraq to strengthen infrastructure and public services, and aims to revive the agricultural sector, alleviate water scarcity, stimulate economic growth, and create jobs, the loan is part of a broader approach for Iraq to obtain external financing for investment projects with economic benefits, as outlined in the 2023-2025 budget and the decision

councilMinisters No. 24630 of 2024.The Minister stressed the “importance of this agreement in enhancing economic cooperation between

IraqAustria, looking forward to more joint projects in the future, will provide

a company(Power) provides technical and advisory support to the Iraqi Ministry of Agriculture throughout the project life cycle, including design, implementation, operation, and maintenance.She pointed out that “the project represents a vital step towards modernizing the agricultural sector in Iraq, especially in light of the challenges of water scarcity and climate change, and is expected to achieve long-term economic benefits by increasing agricultural production and reducing dependence on imports.”

https://www.alsumaria.tv/news/economy/500566/%d8%a7%d9%84%d8%b9%d8%b1%d8%a7%d9%82-%d9%8a%d9%88%d9%82%d8%b9-%d8%a7%d8%aa%d9%81%d8%a7%d9%82%d9%8a%d8%a9-%d9%82%d8%b1%d8%b6-%d8%a8%d9%82%d9%8a%d9%85%d8%a9-290-%d9%85%d9%84%d9%8a%d9%88%d9%86-%d8%af%d9%88%d9%84%d8%a7%d8%b1-%d9%85%d8%b9-%d8%a8%d9%86%d9%83-%d9%86%d9%85%d8%b3%d8%a7%d9%88%d9%8a?src=rss&utm_source=thewall360&utm_medium=rss-articles&utm_campaign=rss&utm_term=Rss#google_vignette

SANDY INGRAM CC NOTES HIGHLIGHTS: "THE IRAQI DINAR HAS A COMPLEX HISTORY" , 19 SEPT

Summary

The Iraqi Dinar has a complex history, marked by inflation, economic sanctions, and recent efforts for stabilization and growth.

Highlights

• 📉 Economic Turmoil: The Dinar faced severe devaluation post-2003 due to conflicts.
• 💰 Oil Dependency: Iraq’s economy heavily relies on oil exports, influencing Dinar value.
• 📈 Recent Reforms: Efforts are underway to stabilize and strengthen the currency.
• 🌍 International Relations: Sanctions impacted the Dinar’s global standing.
• 🏦 Central Bank Role: The Central Bank of Iraq plays a crucial role in monetary policy.
• 📊 Investment Opportunities: Growing interest in investing in Iraq post-conflict.
• 🔮 Future Prospects: Analysts are cautiously optimistic about the Dinar’s potential.

Key Insights

• 📉 Historical Context: The Dinar’s value plummeted after the 2003 invasion, illustrating how geopolitical events shape currency stability.
• 💰 Oil Price Impact: Fluctuations in global oil prices directly affect Iraq’s economy, underscoring the need for diversification.
• 📈 Economic Reforms: Recent monetary policies aim to curb inflation and stabilize the Dinar, crucial for economic recovery.
• 🌍 Global Influence: International sanctions significantly hindered the Dinar’s growth, reflecting the importance of diplomatic relations.
• 🏦 Central Bank Strategies: The Central Bank’s interventions are vital for maintaining currency stability amidst economic challenges.
• 📊 Investment Climate: The post-conflict era presents new investment opportunities, attracting foreign interest in Iraq’s economy.
• 🔮 Long-term Outlook: While challenges remain, optimistic forecasts suggest potential for the Dinar if reforms continue effectively.

FRANK26…..9-18-24…..LIFEVANTAGE PROTANDIM / UPDATE

Central banks of the world begin the journey of “monetary easing”.. What does it mean?, 19 SEPT

 Baghdad-Mil  

The “monetary easing” journey began in most central banks around the world, after the US Federal Reserve lowered the federal funds interest rate, and many banks followed suit, including the Gulf countries .

On Wednesday, the US Federal Reserve cut federal funds rates by 50 basis points to a range of 4.75% – 5%, in the first cut since March 2020 .

Immediately, the central banks in the Arab Gulf states announced a reduction in interest rates by varying percentages, following the US Federal Reserve in reducing them, amid expectations of further monetary easing in the coming months .

US and global markets feared that cuts of less than 50 basis points would stoke fears of a further slowdown in the already sluggish US labour market .

The Central Bank of the UAE decided to reduce the “base rate” on overnight deposit facilities by 50 basis points to 4.90 percent, while the Saudi Central Bank announced a reduction in the repurchase agreement (repo) rate by 50 basis points to 5.50 percent, and a reduction in the reverse repurchase agreement (reverse repo) rate by 50 basis points to 5 percent .

Qatar Central Bank also decided to reduce interest rates by 55 basis points on deposits, lending rates and repurchase (repo) rates to 5.20 percent, 5.70 percent and 5.45 percent respectively .

The Central Bank of Bahrain announced a reduction in the interest rate on overnight deposits by 50 basis points from 6.00 percent to 5.50 percent  .

Meanwhile, the Central Bank of Kuwait decided to reduce the discount interest rate by 25 basis points from 4.25 percent to 4 percent .

What does the decision mean?

The decision to lower interest rates means that the markets will witness more money being pumped into the US and global markets alike, especially since the dollar is a global payment, trade and investment currency .

With the reduction of interest rates on the dollar, central banks whose currencies are pegged to the dollar, and even those that are not pegged to it, will follow the same direction as the Federal Reserve, to keep the attractiveness of their currencies strong against the dollar by moving in one direction with the movement of interest rates on the dollar .

In this case, several factors will occur that will stimulate markets and investment, most notably that the world will witness more borrowing due to the decline in interest rates, after nearly two and a half years of high interest rates .

More borrowing means that cash will go either towards investment or consumption, or both, and ultimately contribute to increased production, consumption and employment  .

Another issue is that a mass of money that was deposited in banks by individuals and companies and on which they were receiving monthly or annual returns will leave the banks, either to be invested directly, or to buy shares or gold .

This applies to most global markets, which have seen negative expectations from the International Monetary Fund regarding a slowdown in their economic growth this year, due to the negative economic mood and geopolitical tensions .

The third thing is that lowering interest rates under the current conditions of the US economy will be positive for investors, and since the US economy is the largest in the world and constitutes about 24 percent of the global gross domestic product, the health of the economy will be reflected in global markets. 

https://miliq.news/economy/35831–.html

TNT UPDATE, 19 SEPT

 TNT

• Wed. 18 Sept. 2024 TNT Update
•  “Banks got memos yesterday Tues. 17 Sept. telling them to get ready and be there this morning because it was scheduled between now and Fri. 20 Sept. The RV announcement should be by tomorrow Thurs. 19 Sept. There is a scheduled time but no one wanted to put it out. We are now waiting for the big announcement on the Fed rate. The Market will change with the Fed announcement. They want things to settle down and then will let the RV go. The rates are out. The Banks are ready. This should be our final call.”

---

TNT UPDATE 

GOOD MORNING TNT. TODAY IS WEDNESDAY SEPTEMBER THE 18TH 2024

I WAS THINKING WE WOULD DO THIS A LITTLE BIT DIFFERENT; BUT I DIDN'T TELL RAY

HERE IS THE GOOD NEWS.............THE TECHNICAL SITUATION HAS BEEN RESOLVED.Sep 18

 BANKS GOT MEMOS YESTERDAY- THEY WERE SUPPOSED TO GET READY AND BE THERE -THIS MORNING, THE MESSAGE WAS GET READY BECAUSE IT WAS SCHEDULED FOR THIS MORNING 

 BETWEEN NOW AND FRIDAY - WE ARE NOW WAITING FOR THIS BIG ANNOUNCEMENT ON THE FED RATE AND WHAT IT WILL DO FOR THE ECONOMY

IT COULD GO WHILE WE ARE ON THIS CALL OR RIGHT AFTER - BUT THE RV ANNOUNCEMENT SHOULD BE TOMORROW MORNING; NOT FRIDAY

THERE IS A SCHEDULED TIME BUT NO ONE WANTED TO PUT IT OUT THERE

THE MARKETS SHOULD CHANGE IMMEDIATELY AFTER THE RATE CHANGE WHICH IT NORMALLY DOES Sep 18

MARKET WILL CHANGE WITH THE FED ANNOUNCEMENT. THEY WANT THINGS TO SETTLE DOWN AND THEN LET THE RV GO

 WE WILL SEE AND WE ARE LIVE. THINGS GOING MINUTE BY MINUTE - I'VE GIVEN YOU ALL THE INFORMATION. THE RATES ARE OUT, THE BANKS ARE READY. HOPEFULLY, YOU ARE ALL READY

THE TEXTS AND THE EMAILS WILL GO OUT; YOU SHOULD BE PREPARED 

I WAS TOLD WE WILL BE THE FIRST ONES TO GET THE INFORMATION FROM THE BANKING SIDE SOMEONE ELSE WILL ALSO GET IT - ANOTHER GURU. 

SO THIS SHOULD BE OUR FINAL CALL

https://dinarevaluation.blogspot.com/2024/09/tnt-update-18-sept.html

DINAR REVALUATION. HIGHLIGHTS!, 19 SEPT

 

https://youtube.com/shorts/Xu9uIapcy9U?si=z-xONpMdriy3Iqmo

Leader in the Framework: Washington moved to abort the amendments to the Personal Status Law, 19 SEPT

 Issam Al-Kriti, who is in charge of the Coordination Framework, said on Wednesday that Washington tried three times to stop the changes to the Personal Status Law in Iraq.

Al-Kriti said in a meeting with , “Washington is experiencing a social and moral emergency and it sees that any regulations that build up values in any nation are a wellspring of risk to the strategy of supporting homosexuality.”

He added, “Washington moved multiple times to cut short the individual status regulation in Iraq through pressures by means of consulates and endeavors to shake things up under the affection of common liberties, however it at last fizzled.”

“The US embassy’s interference in Iraq’s affairs is not the first, and it is condemned and represents a violation of the country’s sovereignty,” he said.

It is essential that the Place of Agents finished yesterday the second perusing of the draft alterations to the Individual Status Regulation.