Article: "A specialist details the negatives and positives of removing zeros from the Iraqi currency"
Quote: "Al-Mawsumi said...The process of removing zeros from the currency means replacing a new currency with the old currency with the aim of simplifying the accounting process between consumers,
and it is often resorted to by countries that suffer from high inflation and have become unable to deal with paper currencies of very weak value...Deleting zeros is an imaginary change in the value of the currency and does not change its purchasing power."
FRANK26: "SUDANI TELLS THE WORLD WE ARE OPEN FOR BUSINESS!!!"........F26
Prime Minister stresses Iraq's openness to all forms of constructive economic partnerships
9/25/2024
Baghdad
Prime Minister Mohammed Shia al-Sudani stressed, on Wednesday, Iraq's openness to all forms of constructive economic partnerships.
The Prime Minister's Media Office said in a statement, seen by "Al-Eqtisad News", that "Prime Minister Mohammed Shia Al-Sudani received in New York today, Wednesday, the CEO of Dubai Ports Company, Sultan Ahmed bin Sulayem, which is one of the most prominent companies specialized in managing ports in the world."
He added that "the meeting discussed aspects of cooperation and the possibility of benefiting from the extensive expertise available to Dubai Ports in the field of rapid transportation of goods and re-export, especially its extensive and successful experiences in transporting goods between Asia and Europe, where bin Sulayem expressed the company's desire to cooperate with Iraq in this field, as well as the possibility of forming partnerships with the private sector in various industrial fields."
The Prime Minister stressed - according to the statement - "Iraq's openness to all forms of constructive economic partnerships," referring to "Iraq's efforts to use the available capabilities to implement the Strategic Development Road project, which is among the priorities of the government program; as it represents an important pillar for the non-oil economy and an opportunity to develop infrastructure and provide thousands of jobs and employment opportunities."
“The goal of the census is developmental, economic and Kirkuk second in completing the numbering and inventory process”
So they are doing a full census in November to figure out which money goes where….
I do believe this occurs right after the HCL is wrapped up and the government can then distribute the new funds. I was told to look for a census…and now we are finally getting it.
EXCERPTS FROM MARKZ
MZ: Straight out of Iraq “ Iraq and Indonesia agree to visa exemption. “ Isn’t this kinda funny ? And Iraq recently signed something like this with Vietnam. Now Indonesia- who is a major trading partner-just like Vietnam. . What are the other currencies expected to go with them at the exact same time? It’s almost like they are going lock step and certainly are being good neighbors.
MZ: “ The goal of the census is developmental, economic and Kirkuk second in completing the numbering and inventory process” So they are doing a full census in November to figure out which money goes where ….I do believe this occurs right after the HCL is wrapped up and the government can then distribute the new funds. I was told to look for a census…and now we are finally getting it.
Mark plays a video with Sudani speaking in Arabic with English translation.
MZ: He is talking about Iraq going international ….and being international is a huge deal. I put a retweet of that speech on X.
US Treasury: Supporters of Al-Sudani’s Reform Agenda
9/24/2024
Baghdad
The US Treasury Department confirmed, on Tuesday, its support for Prime Minister Mohammed Shia al-Sudani's reform agenda.
The ministry said in a statement, seen by "Al-Eqtisad News", that "Deputy Secretary of the Treasury, Wali Adeyemo, met with Iraqi Prime Minister Mohammed Shia al-Sudani on the sidelines of the United Nations General Assembly to discuss reforming the Iraqi banking sector, financial relations with the United States, and combating illicit financing."
The statement added, "The Deputy Secretary of the Treasury congratulated Al-Sudani on the great progress Iraq has made in reforming the banking sector, which has led to expanding Iraq's international financial connectivity and increasing financial inclusion."
According to the Treasury statement, Adeyemo affirmed “Treasury’s support for the Central Bank of Iraq and Prime Minister Mohammed Shia al-Sudani’s reform agenda.”
The Deputy Treasury Secretary praised the growth of the non-oil economy in Iraq by 6.0 percent, asking about "the steps the Prime Minister is taking to diversify the Iraqi economy from hydrocarbons," according to the US Treasury statement.
Earlier on Tuesday, Prime Minister Mohammed Shia al-Sudani received US Deputy Treasury Secretary Wally Adeyemo and a number of Treasury officials.
You can see the excitement of what's going on is no longer a secret and it's being advertised and published and talked about and bragged about all over the world from New York, the United States Treasury, all the way back to Iraq.
The whole Middle East is on pins and needles.
They all know. They're excited and they know it's going to affect them as well too...
Frank26
Article: "The government forms a higher committee to adapt Iraq banks to International financial requirements" What does that mean?
It means the Iraq dinar is going to float internationally in international markets.
But it's at a program rate?
No it's not.
But it has sanctions on the country?
No it doesn't. Wells Fargo says it's on the OFAC list,
that it's on the 'bad currency' list?
No it's not...That going international requires a new exchange rate. Yes it does.