Wednesday, November 20, 2024
Foreign Minister And US Ambassador Stress Need To Continue Cooperation And Strengthen Partnership, 20 nov
Foreign Minister And US Ambassador Stress Need To Continue Cooperation And Strengthen Partnership
Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein and US Ambassador Alina Romansky stressed the need to continue cooperation and strengthen partnership to serve common interests.
A statement from the Ministry of Foreign Affairs stated that "Deputy Prime Minister Fuad Hussein received the US Ambassador to Iraq Alina Romansky."
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The statement added that "the meeting discussed the results of the US elections and the expected new administration in Washington, in addition to reviewing the results of the Arab-Islamic Summit and the Climate Summit. The two sides also touched on the tense situation in the regional environment and current challenges."
It continued, "The two parties discussed the course of bilateral relations between the two countries during the current administration, and future expectations for these relations, while stressing the need to continue good cooperation between the two countries and strengthen the partnership to serve common interests." https://www.radionawa.com/all-detail.aspx?jimare=40311
Evening News with MarkZ. 11/19/2024
The Future Of International Trade Transactions In US Dollars In Iraq, 20 nov
The Future Of International Trade Transactions In US Dollars In Iraq
Samir Al-Nusairi The US dollar is the first global currency for foreign trade transactions between countries of the world. It constitutes 80% of the volume of international financial transactions and represents about 60% of international reserve currencies.
The dollar is the only currency that accommodates large financial transactions in the oil and energy sector and global oil trades amounting to 100 million barrels in addition to other commodities. Other currencies constitute about (20%-25%).
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The dollar plays a fundamental role in the control of the American economy over the global economy in various fields, and many countries tried to get rid of the dominance of the US dollar in previous periods, but they could not.
Therefore, the BRICS group was established, and its member states, namely China, Brazil, India and South Africa, are trying to limit the dominance of the dollar in international commercial and banking transactions, and the number of countries in it has now become about 9 countries.
After several countries joined, including Arab countries such as Egypt, the Kingdom of Saudi Arabia, and the United Arab Emirates, in addition to Ethiopia and Iran in 2024, and its main goals are to limit the dominance of the dollar in global trade, cooperation between the tax and customs authorities of the group’s countries, and to reach the creation of a new currency for use among the group’s countries.
Iraq, with the aim of reorganizing foreign trade financing, began concluding agreements with central banks with which Iraq has extensive trade exchange, in agreement with solid correspondent banks in China, India, the Emirates and Turkey, to deal in Chinese yuan, Indian rupee, Emirati dirham and Turkish lira, to achieve two goals:
the first is to enable our banks to agree with correspondent banks in these countries and other countries to deal directly with them after canceling the electronic platform, and
the second is to introduce new foreign currencies for commercial and banking transactions other than the US dollar, to enable banks that do not have US correspondent banks to continue their foreign transfers with those alternative countries according to special agreements with their central banks.
This can help control the reduction in the widespread local demand for the US dollar, create a state of balance in the money market, and maintain the purchasing power of the local currency, the Iraqi dinar. This method is now in effect, in addition to the existence of dealings in the US dollar as well. https://economy-news.net/content.php?id=50000
TIDBITS FROM MARKZ, 20 NOV
MarkZ
[via PDK]
“Kurdistan Prepares for curfew on census days and reveals those excluded from it”
there are a lot of people telling us the census had to be done before they pull the trigger.
Well, they are doing the census so we can check that box off.
They are about to close everything down for 2 days. And everyone is staying home to get counted...
Lots of expectations and possibilities for this week…. Stay calm. We are seeing an overwhelming amount of evidence this week.
Expectations of an "elite" Iranian delegation arriving in Baghdad.. 3 files on the table, 23 NOV
Expectations of an "elite" Iranian delegation arriving in Baghdad.. 3 files on the table An informed source expected, today, ...
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...