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Arab League Council to hold extraordinary session at Iraq's request, 23 NOV

 Arab League Council to hold extraordinary session at Iraq's request

Shafaq News/ On Sunday, the Arab League Council will convene an extraordinary session at the level of permanent representatives, chaired by Yemen, based on Iraq's request.

Ambassador Hossam Zaki, Assistant Secretary-General of the Arab League, confirmed that “the meeting will discuss the memorandum from the President of the United Nations Security Council regarding Israeli claims of increased frequency and intensity of attacks originating from Iraqi territory since last September, which aim to drag the region into a wider regional war.”

Zaki added, “The General Secretariat of the Arab League received Iraq's request to hold an extraordinary session and circulated it to member states for consultation. Several member states supported Iraq's request, and it was agreed to hold the session tomorrow at the General Secretariat headquarters.”

Iraq’s Ministry of Foreign Affairs (MoFA) has taken significant diplomatic measures in response to Israeli threats of an attack. On Saturday, Iraq sent official letters to the United Nations Security Council, the UN Secretary-General, the Arab League, and the Organization of Islamic Cooperation.

 These letters emphasized Iraq's commitment to stability and adherence to the principles of the United Nations Charter while denouncing Israel's accusations as part of a systematic policy to expand regional conflict.

The letters requested the Security Council to take action to halt "Israeli aggression in the Gaza Strip and Lebanon" and to compel Israel to stop the ongoing violence and threats.

 The ministry underscored Iraq's restraint in using its airspace for targeting a neighboring country and called for international intervention to prevent aggressive behaviors that violate international law.

MILITIAMAN CC HIGHLIGHTS NOTES, 23 NOV

 MILITIAMAN CC HIGHLIGHTS NOTES

Summary

Militia Man discusses recent developments in Iraq’s economy, including expectations for exchange rate changes, the importance of population census data, and regional trade partnerships.

Highlights

• 📈 High Expectations: Anticipated changes in exchange rates are creating optimism among citizens.
• 📊 Population Census: Accurate census data is essential for effective development and fund allocation.
• 🌍 Regional Trade: Iraq’s trade partnerships with neighboring countries are set to grow significantly.
• 💵 Purchasing Power: Plans to enhance citizens’ purchasing power through monetary reforms are underway.
• 🔍 International Oversight: The IMF emphasizes the need for flexibility in exchange rates to mitigate economic shocks.
• 📅 2024 Budget: The upcoming budget is crucial for funding development projects and achieving economic goals.
• 💻 Crypto Growth: There’s an increasing focus on cryptocurrency as a future financial solution.

Key Insights

• 📈 Economic Reform Expectations: The anticipation of an effective exchange rate reflects a shift towards a more robust economy. As Iraq aligns its currency value with economic realities, it may enhance international trade and investment opportunities.
• 🗂️ Census as a Development Tool: The census data will be instrumental in directing development funds effectively, ensuring that resources are allocated where they are needed most, ultimately fostering economic growth and improving living standards.
• 🌍 Strengthening Trade Relations: By launching joint trade initiatives with Iran and other countries, Iraq is positioning itself as a key player in regional commerce, which could lead to increased economic stability and growth.
• 💵 Enhancing Citizen Purchasing Power: The government’s focus on increasing citizens’ purchasing power is crucial for improving the standard of living and economic resilience, as a stronger currency can lead to lower prices for imported goods.
• 🔍 IMF’s Advisory Role: The IMF’s recommendation for a flexible exchange rate highlights the importance of adaptability in Iraq’s economic strategy, aiming to shield the economy from potential external shocks.
• 📅 Budget Transparency: The anticipated release of the 2024 budget is a critical milestone for Iraq, as it will outline the government’s financial priorities and development plans, influencing investor confidence.
• 💻 Crypto Adoption Potential: The growing interest in cryptocurrency indicates a potential shift in Iraq’s financial landscape, suggesting that digital currencies may play a significant role in future economic transactions and trade efficiency.

MNT GOAT: CBI INTEL TOLD ME HOW THE CBI WILL CONTROL THE SWING ON IQD RATE WHEN RV @DINARREVALUATION

 

The American consul in Erbil speaks of “economic opportunities” that bring great benefits to Iraq and the United States, 23 NOV

The American consul in Erbil speaks of “economic opportunities” that bring great benefits to Iraq and the United States

Shafaq News / The US consul to Erbil, Steve Bitner, spoke on Saturday about “economic opportunities” that will bring great benefits to Iraq and the United States of America.

“The strategic agreement between the two countries includes many aspects, including economic, cultural, health and environmental cooperation, and the consolidation of common relations,” Bitner said during his participation in a dialogue session at the Peace and Security Forum held by the American University of Duhok.

“Over the past 20 years, security and political concerns have dominated relations between the United States and Iraq, but recently attempts have emerged to focus on economic opportunities that will bring significant benefits to both countries,” Bitner said.

On Friday, the activities of the Fifth Forum for Peace and Security in the Middle East, hosted by the American University of Duhok in the Kurdistan Region of Iraq, began in Duhok governorate.

The forum is attended by the Presidents of the Republic, the President of the Kurdistan Region, and a large number of local, Arab and international official figures.

The two-day forum is in charge of the two-day forum that it includes dialogue sessions, seminars and workshops on the situation in the Middle East and the world, and that it aims to build bridges of cooperation between the various participating countries, discuss problems and solutions, and the role of society in the Middle East.

https://www.shafaq.com/ar/سیاسة/القنصل-ال-مريكي-لدى-ربيل-يتحدث-عن-فرص-اقتصادية-تجلب-فوا-د-كبيرة-للعراق-والولايات-المتحدة

NADER FROM MID EAST CC HIGHLIGHTS NOTES, 23 NOV

 NADER FROM MID EAST CC HIGHLIGHTS NOTES

Summary

Iraq’s monetary policy aims to stabilize the dinar against the dollar to reduce exchange rate gaps, curb inflation, and stimulate economic growth.

Highlights

• 📉 Fixed exchange rate: Iraq uses a peg system to stabilize the dinar against the dollar.
• 💰 Inflation control: The policy seeks to curb inflation and support purchasing power.
• 🌍 Oil dependency: The economy heavily relies on oil revenue, impacting exchange rate stability.
• 🔄 Market fluctuations: Dollar supply affects exchange gaps, widening during oil price declines.
• 🏦 Banking issues: Limited credit deposits hinder exporters, forcing reliance on parallel markets.
• 📊 Economic repercussions: Exchange rate gaps lead to broader social stability concerns.
• 👨‍👩‍👧‍👦 Impact on families: Limited-income families suffer from inflation and purchasing power loss.

Key Insights

• 🔒 Exchange Rate Stability: A fixed exchange rate aims to reduce volatility, essential for economic planning and growth. Without stability, investor confidence may wane.
• 📈 Inflationary Pressures: Fluctuations in the exchange rate can lead to increased costs, directly impacting household budgets and savings, especially for lower-income families.
• ⛽ Oil Revenue Dependence: Iraq’s economy’s reliance on oil dollars makes it vulnerable to global market changes, highlighting the need for economic diversification.
• 🔍 Parallel Market Risks: When official dollar supplies dwindle, traders turn to parallel markets, which can exacerbate inflation and inequality among citizens.
• ⚖️ Economic Policy Challenges: Policymakers face significant challenges in bridging exchange gaps, which are critical for maintaining social stability and economic growth.
• 📉 Exporter Struggles: Low flexibility in non-oil exports leads to decreased financial resilience for traders, affecting their ability to sustain operations.
• 🌐 Global Market Sensitivity: The economy’s sensitivity to global oil prices underscores the importance of strategic planning in monetary policy to weather economic downturns.

NADER FROM MID EAST : Iqd tal of Thea exchange rate