"FINANCIAL SITUATION MEANS MONETARY REFORM SUCCESS!!! by FRANK26, 5 OCT

 KTFA 

FRANK26: "FINANCIAL SITUATION MEANS MONETARY REFORM SUCCESS!!! 

Government Advisor: No concerns about Iraq's financial situation and our foreign reserves are diverse

10/2/2024

 

 The financial advisor to the Prime Minister, Mazhar Muhammad Salih, reassured about the financial and economic situation of the country.

 

Saleh told Al Furat News Agency:  "We should not worry about the current fluctuations in either monetary gold or the various foreign currencies that make up the country's foreign reserve portfolio, which varies from major foreign currencies and monetary gold, according to the global standard investment guidelines adopted by the monetary authority in high-level technical cooperation with multilateral international financial organizations, specifically the International Monetary Fund and the World Bank."
He explained, "Usually, the Central Bank of Iraq hedges in managing its sovereign investment portfolio with a studied and highly sensitive diversity and with standard ratios and precise weights for each foreign currency in addition to the monetary gold that makes up the foreign reserves, within the scope of what is called hedging against the risks of fluctuations in exchange rates of currencies and gold, which is a policy that expresses the efficiency of managing the country's investment portfolio and according to diversification in various foreign currencies and gold."

Saleh explained, "The decline in the market value of gold, for example, must be met with an increase in the value of the dollar or other foreign currencies through the management of the components of the foreign reserves portfolio itself, as diversification is an important pillar of the hedging policy in managing investments in foreign assets from fluctuations in foreign exchange rates and gold through diversifying the country's sovereign investment portfolio."

He pointed out that "the sovereign investment portfolio avoids what is called in the literature of accounting policy of central banks (unrealized losses) by immediately realizing (unrealized profits), which are the same unrealized profits that correspond to the unrealized losses resulting from fluctuations in gold or foreign currency prices at the same time."
He pointed out that "the availability of a good diversification policy, in the assets or holdings of the investment portfolio, is sufficient neutrality in maintaining the total market value of the country's foreign assets reserve and the stability of its value at all times."
.
Raghad

 

LINK

RV UPDATE BY MNT GOAT, 5 OCT

 Mnt Goat 

 Prime Minister Mohammed Shia al-Sudani confirmed from New York that the currency sale window will close at the end of this year, while revealing the government’s intention to establish a new bank that adopts the latest technologies. 

WOW! WOW! We have been waiting for this for decades. Now it Is reality. Finally!!

Iraqi Banks Go Global: Multi-Currency Transfers Now Live! #gold #news #...

"TRIPARTITE BUDGET IS READY BECAUSE OF THE MONETARY REFORM SUCCESS." BY FRANK26, 4 OCT

 KTFA

FRANK26: "TRIPARTITE BUDGET IS READY BECAUSE OF THE MONETARY REFORM SUCCESS.".....F26

Salaries are secured.. Finance Committee: Discussing 2025 budget schedules to begin next month

 

 Baghdad

The Parliamentary Finance Committee announced that it will begin discussing the 2025 budget schedules early next November.
Member of the Finance Committee, Mohammed Nouri, said in a statement to the official newspaper, followed by (Mawazine News): "The committee reiterated that employees' salaries are fully secured until the end of the current year, and there is no delay."
He added that "the committee is working through its meetings with financial specialists in the Ministry of Finance and the Central Bank to address the delay in financing governorate allocations and ongoing projects, and to launch project packages in the coming few days.
" Nouri indicated that "the committee will begin discussing the  2025 budget schedules early next November, in order to ensure employees' salaries, project allocations, and other financial obligations."

LINK

RV UPDATE BY JON DOWLING, 4 OCT

 JON DOWLING

Let’s see when Sudani releases the corrupt files in Iraq. 

Once Israel finishes in Lebanon, which looks to be completed soon, Iran is next! 

@JonDowling

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JON DOWLING

Three major takeaways from PM Sudani’s great efforts last week at the UN General Assembly:

1.) He announced the end of the currency auctions this year, not next year,

2.) Israel was waiting for the announcement of the currency auctions. Once they got it, you can see they started striking and are summarily taking out every bad guy in sight. Next up: Iraq/Iran for the grave surrender,

3.) The UN did appoint a new middleman to replace Jeannine, but notice you haven’t seen them at all and you probably won’t, since everything is coming to an end. 

@JonDowling

https://dinarevaluation.blogspot.com/2024/10/rv-update-by-jon-dowling-3-oct.html

HERE IS THE PROCESS OF THE REINSTATEMENT OF THE IRAQI DINAR BY MNT GOAT ...

"NOW YOU UNDERSTAND WHY I TOLD YOU ABOUT COPPER". BY FRANK26, 4 OCT

 KTFA

FRANK26: "NOW YOU UNDERSTAND WHY I TOLD YOU ABOUT COPPER"........F26

Inauguration of first copper and cable factory in Erbil, Kurdistan

10/2/2024

 

On Wednesday, Kurdistan’s Prime Minister Masrour Barzani inaugurated the first copper, wire, and cable manufacturing plant in both the Kurdistan Region and Iraq which comprises six factories and is recognized as

In his address at the inauguration, Prime Minister Masrour Barzani expressed pride in the progress of the industrial sector, stating, "We hope to benefit from our natural resources and treasures in producing the raw materials essential for industry."

He emphasized that developing the industrial sector strengthens the economic infrastructure of the Kurdistan Region, reiterating, "We support the private sector in maintaining local products."

Masrour Barzani also assured support from his government for the company's efforts to export its products abroad, asserting that local products in the Region are of high quality. He stated, "We want the industrial sector to surpass the borders of Kurdistan," stressing the need to harness all resources to advance the Region.

During the inauguration ceremony, the Copper and Cables Erbil company’s representative Sadiq Mohammed stated that "this factory, constructed on an area of 70 dunams, houses several production facilities for wires and cables of various types and sizes."

He emphasized that this facility is “the most advanced and modern in the Region, capable of supplying the entire market of the Kurdistan Region and Iraq with products,” noting successful exports to Turkiye and Greece, and the capability to export to various countries around the world.

Mohammed highlighted that Iraq, including the Kurdistan Region, has previously sent copper waste abroad for recycling and subsequent re-import. “Now, the company will undertake this process domestically.”

“The factory's products will significantly impact the wire and cable market in the Region and Iraq, as the facility utilizes cutting-edge technology. The factory will also provide job opportunities for 700 families.”

About The Project

The "Copper and Cables Erbil" project is a modern and integrated industrial complex for general trade, occupying a vast area of 175,000 square meters with an investment exceeding $80 million. It is a comprehensive industrial complex where all manufacturing processes are conducted, from recycling copper waste to producing copper wires and cables.

It is a strategic project built by local labor and complies with global quality standards, with the purity of the copper used reaching 99.99%.

The company's objectives include providing copper supplies for wires and cables in the Kurdistan Region, Iraq, and other countries in the region, as well as supporting and servicing major industries, contractors, and entrepreneurs in the Kurdistan Region.

LINK