Iraq gets $11 billion from Japan – urgent, 24 DEC

 Iraq gets $11 billion from Japan – urgent

Fourth – Baghdad

The United Nations Development Programme (UNDP) and the Japan International Cooperation Agency (JICA) office in Iraq have renewed their long-term partnership to promote social and economic development in Iraq through funding from the Government of Japan and JICA.

This partnership, which has spanned more than fifteen years of cooperation with the Government of Iraq, reflects the strong commitment of the United Nations Development Programme (UNDP) and the Government of Japan/JICA to meeting Iraq’s need for efficient, stable and reliable basic services and economic infrastructure.

Together, they have contributed significantly to Iraq’s human and economic growth, in line with Iraq’s national development plans and programs that focus on economic diversification, modernizing infrastructure and improving social services…

https://www.faceiraq.org/article/224432/العراق-يحصل-على-11-مليار-دولار-من-اليابان-عاجل

MELANIA HINDS CC HIGHLIGHTS NOTES, 24 DEC

 MELANIA HINDS CC HIGHLIGHTS NOTES

Summary

Melanie Hines reports significant news regarding the Iraqi dinar, including a rise in purchasing power and an 11-day holiday in Kurdistan.

Highlights

• 🚀 Significant increase in purchasing power to 10 cents.
• 🎉 Kurdistan announces an 11-day holiday affecting all regional institutions.
• 📈 New digital systems in place to monitor inflation.
• 🌍 Iraq is seen as a model by the World Bank and IMF.
• 🔄 Reports of a potential new exchange rate adjustment.
• 💼 Banks are actively engaging with dinar holders for wealth management.
• 🤝 Contractors are seeing improvements in exchange rates.

Key Insights

• 💰 The rise in purchasing power is a crucial indicator of economic progress, potentially signaling a stable dinar valuation.
• 🎊 The holiday in Kurdistan may serve to stimulate consumer spending and provide data on inflation trends, critical for future rate decisions.
• 🔒 The implementation of digital banking systems is expected to enhance security and efficiency in transactions, positioning Iraq favorably in the global market.
• 🌐 The approval from major international organizations indicates confidence in Iraq’s economic reforms, which could attract foreign investments.
• ⚖️ The potential adjustment of the exchange rate raises concerns but also opportunities for contractors and investors in the region.
• 📈 Increased interest from banks in dinar holders suggests a shift in perception, viewing the dinar as a viable asset rather than a speculative gamble.
• 🔍 Ongoing discussions about rate changes highlight the dynamic nature of Iraq’s economic landscape, necessitating close monitoring by investors.

YADA: " THE AMENDMENT FRO THE RATE CHANGES WAS DONE LAST WEEKEND" @DINARREVALUATION #iraqidinar

 

The Sudanese stresses the need for Iraq to diversify the sources of armament to raise the efficiency and resiness of the security forces, 24 DEC

 The Sudanese stresses the need for Iraq to diversify the sources of armament to raise the efficiency and resiness of the security forces

Mawazine News Baghdad

Prime Minister Mohammed Shia Al-Sudani stressed Iraq’s need to diversify sources of armaments, to raise the efficiency and readiness of the security forces.
Al-Sudani said, during his reception on Monday, representatives of the Korean company (Kai) for Air and Space Industries: “The government is keen to cooperate with the company, and benefit from its expertise and capabilities to develop and strengthen air defense capabilities, which come within the targets of the government program in achieving security reform and developing security services.”

The Prime Minister, according to a statement from his media office, pointed to Iraq’s need to diversify sources of armament, which the government has worked on as part of a comprehensive plan to raise the efficiency and readiness of the security forces, and to enhance the country’s capacity in the face of various internal and external challenges.

For their part, representatives of the Korean company reviewed its capabilities in the field of aviation and the manufacture of drones, and concluded contracts with the Ministries of Interior and Defense, related to the preparation of aircraft and contributing to the completion of the Essaouira air base scheduled to be opened next year.

https://www.mawazin.net/Details.aspx?jimare=257780

TIDBIT FROM CLARE, 24 DEC

 Clare

  Article:  “The dollar market is on “one leg”.. A ​​new mechanism and the exchange rate is threatened!" 

 Quote: "The Central Bank of Iraq is preparing to stop dealing with the electronic platform for dollar transfers abroad, at a time when experts have warned against raising the exchange rate to a higher level in light of the news circulating about this...

News has been raised about a move towards a new adjustment to the exchange rate, which has raised economists’ concerns about the potential impact of this move on the economic process in general."

BROTHERS TECHNOLOGY: THE BANKS ARE READY TO GO!! , OIL REFORM IS COMPLETE AND GET READY!!#iraqidinar

 

Parliamentary committee: Iraq is about to be a great investment and economic prosperity, 24 DEC

 Parliamentary committee: Iraq is about to be a great investment and economic prosperity

Baghdad Today – Baghdad

The Parliamentary Investment and Development Committee confirmed on Monday, December 23, 2024, that Iraq is about to have a great investment and economic prosperity during the next phase.

Committee member Mohamed Radi told Baghdad Today that “the stability achieved at the political, security as well as governmental levels will push to important and great investment opportunities during the next phase and this will generate great prosperity at the economic level, and this will work on an important reconstruction leap on various infrastructures.”

Radi added that “the Iraqi government has achieved successes in the investment file and strengthening the economic and financial conditions, and these successes have reflected positively on the file of services, reconstruction and development, and the next stage will show these successes more through the investment and economic prosperity at various levels.”

The International Monetary Fund had predicted in April 2024 that the Iraqi economy would grow 1.4% in 2024 and 5.3% in 2025, and urged structural reforms and debt stabilization.

The Iraqi government also announced a decrease in unemployment from (16.5%) to (14.4%), a reduction in poverty from (23%) to (17%), a decrease in inflation from (6.1%) in 2021, to (2.5%), and a rise in non-oil revenues to (14%), after accounting for (7%) of the budget.

https://baghdadtoday.news/264508-لجنة-برلمانية-العراق-مقبل-على-ازدهار-استثماري-واقتصادي-كبير.html