MAJEED: " $1 IRAQI DINAR PER $13 USD" ‪@DINARREVALUATION‬

 

THE EUROPEAN UNION ORGANIZES A WORKSHOP IN BASRA ON CENTRAL ADMINISTRATION AND THE WEALTH DISTRIBUTION SYSTEM, 28 NOV

 THE EUROPEAN UNION ORGANIZES A WORKSHOP IN BASRA ON CENTRAL ADMINISTRATION AND THE WEALTH DISTRIBUTION SYSTEM

The European Union organized a workshop in Basra on central administration and the wealth distribution system.

Basra Governor Asaad Al-Eidani stressed during the workshop that the distribution of wealth has limitations for the poorest areas as well as areas with high population density, in addition to areas that were damaged by the wars that Iraq witnessed.

He added that Basra has three resources for distributing wealth in the budget, which are: regional development, border crossing revenues, and petrodollars. Basra may not be given its full revenues, which are according to the constitution, due to the financial situation and challenges facing the country. He pointed out that during the past two years there are debts owed to the governorate that must be given those entitlements.

Al-Eidani explained that “the infrastructure projects being implemented in the province have contributed significantly to improving the economic situation in various housing units, noting that house prices in the province have witnessed a noticeable doubling during the past few years, reaching ten times their previous value.

Al-Eidani pointed out that these improvements reflect the impact of development projects on improving the standard of living and enhancing the value of real estate assets in Basra.”

TIDBIT FROM MILITIAMAN, 28 NOV

 Militia Man

  Article quote: "The objectives of banking reforming Iraq will end with a high integration that achieves competitiveness, homogeneity, compliance and governance within the Iraqi banking market and achieves the integration of the national banking market with the global market." 

 They haven't ever done that with an exchange rate of 1180, 1166, 1182, 1310, 1450...Never happened. 

 Then why would they just all of a sudden say, 'Now it's okay'?  

...Integrating Iraq's national banking market system with the global market system in my view will require a real effective exchange rate...

DINARLAND UPDATE: THE BUDGET & HCL LAW HAVE BEEN PASSED!! ‪@DINARREVALUATION‬

 

Iraqi parliament gives first reading to bill seeking restart of Kurdish oil, 28 NOV

 Iraqi parliament gives first reading to bill seeking restart of Kurdish oil

ERBIL, Kurdistan Region – Iraq’s parliament on Tuesday finished the first reading of an amendment to the country’s budget law in a bid to resume Kurdistan Region’s oil exports which have been halted for nearly 20 months.

The parliament convened to discuss a range of issues, including a bill recently submitted by the federal government to increase the rate for the production and transportation of a barrel of oil from the Kurdistan Region by nearly $10. The aim of the move is to pave the way for a deal between Baghdad, Erbil and international oil companies operating in the Region to restart the exports of the Kurdish oil via Turkey. 

The parliament said in a statement that it finished the first reading of the bill. Following the second reading, it will be put to a vote. 

Earlier this month, the Iraqi government approved a proposal to amend articles from the federal budget to authorize compensation to companies operating in the Kurdistan Region for oil production and transportation costs, setting the rate at $16 per barrel.   

Iraq’s three-year federal budget bill, passed in June 2023, had set the rate for one barrel of oil at $6.90 and international oil companies (IOCs) have requested three times that amount.

Oil exports from the Kurdistan Region through the Iraq-Turkey pipeline have been suspended since March 2023 after a ruling by a Paris-based arbitration court ruled in favor of Baghdad over Ankara, saying the latter had breached a 1973 pipeline agreement by allowing Erbil to export oil independently since 2014. 

Before the halt, Erbil exported around 400,000 barrels per day through the pipeline, in addition to some 75,000 barrels of Kirkuk’s oil.

Kurdistan Region Prime Minister Masrour Barzani said on Saturday that the halt has cost them $20 billion. 

Fuad Hussein, Iraq’s foreign minister, told Rudaw on November 14 that the exportation of the Kurdish oil could resume in weeks. 

https://www.rudaw.net/english/middleeast/iraq/261120241

MNT GOAT: HOW IRAQ WILL PAY FOR THE EXCHANGE OF CURRENCY ON REVALUATION, 27 NOV

 Mnt Goat 

 ...post RV Iraq will...be on the hook to sell oil to the US at a fixed, low price for the next 30 years (oil credits from our exchanges).

 This is in part how Iraq is going to pay for the exchange of currency on revaluation...

DINARLAND UPDATES! MORE NEAR OF OUR RV!! ‪@DINARREVALUATION‬