Monday, October 28, 2024
"THE FUTURE OF IRAQ IS NOT A PROGRAM RATE AND ADAM KNOWS THIS" BY FRANK26, 28 OCT
KTFA
FRANK26: "THE FUTURE OF IRAQ IS NOT A PROGRAM RATE AND ADAM KNOWS THIS".....F26
Adam Smith International assists with Iraq Budget Prep
23rd October 2024
The Iraqi government has started discussions on the structure of the 2025 budget, with expectations for its submission to Parliament early next year, according to Atwan Al-Atwani, head of the Parliamentary Finance Committee.
State-run Iraqi News Agency (INA) says Al-Atwani hosted a delegation from Adam Smith International to discuss public financial management reforms, including tax, customs, public debt, and development fund sectors. Key financial challenges, particularly the oil revenue dependency, were highlighted, as well as ongoing efforts to boost non-oil revenues through legal reforms.
A major issue remains the oil dispute with the Kurdistan region, which the committee is actively working to resolve through dialogue. Al-Atwani also indicated that reforms are underway, including amendments to the General Authority for Monitoring Federal Revenue Allocations Law and new proposals related to Islamic bonds and financial market regulations.
TIDBIT FROM NADER FROM MID EAST, 28 OCT
Nader From The Mid East
Now we can pay with the Iraqi dinar anywhere in the world.
From Iraq I can pay people over here [United States]...For now it's 1310 but I can send you $500.
I'm talking about business, I'm not talking about person to person. I'm talking about business. Before we're not allowed to do that...
Sudan and Al-Suwad discuss the government’s past plans to grow the oil and gas sectors, 28 OCT
Sudan and Al-Suwad discuss the government’s past plans to grow the oil and gas sectors
Economy News – Baghdad
Prime Minister Mohammed Shia Al-Sudani discussed on Sunday with Oil Minister Hayan Abdul Ghani Al-Sawad the government’s past plans in the growth of the oil and gas sectors.
The Prime Minister’s Media Office said in a statement received by “Economy News” that “the Sudanese received, today, the Minister of Oil Hayan Abdul Ghani Al-Swad, in the presence of the Undersecretary of the Ministry of Oil for Distribution Affairs.”
He added that “Al-Sudani referred, during the meeting, to the government’s past plans in the growth of the oil and gas sectors, and the development of their projects within the government program, through licensing rounds in which the investment of many oil and gas fields were contracted, in addition to investing in associated gas projects, and oil derivatives production projects.”
With regard to cooperation with the OPEC Plus Group, during the meeting, they stressed “the importance of partnership with oil-producing countries, with the aim of maintaining the stability and balance of global oil markets, and Iraq’s commitment to what was agreed within the framework of the group, including voluntary reductions and compensation for the increase in production, according to the updated table provided by the Ministry of Oil to OPEC.”
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Added 2024/10/27 – 2:32 PM
TIDBIT FROM CLARE, 28 OCT
Clare
Article: " 'Hybrid Monetary Policy'.. Al-Sudani's Advisor Reveals the Central Bank's New Step"
Quote: "The Central Bank began...on October 24, to reduce the monetary policy interest rate...by about 200 percentage points, by lowering the interest at which the Central Bank deals with banks from 7.5% to 5.5%, which means...an expansionary policy in targeting the money supply...
Despite the above... new policy did not neglect the importance of continuing to control local liquidity levels and carrying out high sterilization operations,
by offering debt instruments called Islamic certificates of deposit...which are considered sovereign debts that can be mortgaged or discounted in the secondary market and are excellent debts...
with a return of 4% for a period of 14 days and a return of 5.5% for a period of 182 days."
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