JEFF: The CBI would have to post and say, 'hey we're going to be ending the currency auctions #iqd

 

Economic Advisor: Our country is ranked ninth in the world in natural resources, 31 DEC

  Economic Advisor: Our country is ranked ninth in the world in natural resources

The economic advisor to the Prime Minister, Mazhar Mohammed Salih, said, “What the economic policy in our country aspires to is thinking outside the box and providing sustainability in the current account surplus of the Iraqi balance of payments.”

He added, “This comes through investment expansion in natural resources, manufacturing them, and preparing them for export, which provides returns that help establish a sovereign wealth fund. ”

Saleh pointed out in a press statement followed by (Al-Masry - Today, Sunday), that "the most appropriate model is to generate a sovereign wealth fund {directing its investments towards internal opportunities} and according to a different vision; because our country is ninth in the world in terms of the diversity of its natural resources in the earth's interior and first in the world in terms of the concentration of wealth in one square kilometer."  link

TIDBIT FROM JEFF,, 30 DEC

 Jeff 

 Iraq's been saying through the course of this year that they're going to by the end of this year end the use of the dollar ...Iraq is stating they're going to end the currency auctions starting January 2nd.

..If we don't see more than one outlet stating something, it doesn't hold a lot of credibility...

The Central Bank would have to post and say, 'hey we're going to be ending the currency auctions.'  That isn't posted anywhere on the Central Bank's website. 

 So far just one news outlet stating it's going to end and will be done as of January 2nd in print.  Only one.  That make the credibility of that news very questionable especially with the Central Bank not posting it.

JULIAN ASSANGE: Global Currency Reset: Zimbabwe Dollar, Iraqi Dinar, and Vietnamese Dong

 

Sudanese advisor reveals government’s philosophy for future of national economy, 31 DEC

 Sudanese advisor reveals government’s philosophy for future of national economy

 The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the government’s philosophy for the future of the national economy, represented by the idea of ​​establishing a sovereign wealth fund.

Saleh told {Euphrates News} that: “The initiation of the idea of ​​a sovereign wealth fund is essential and is consistent with the renaissance of natural resources and undoubtedly comes in parallel with the development path strategy and its outcomes in generating a leading industrial renaissance in the national economy. This is Iraq’s outline in building the future of its economy for the twenty-first century and in two directions {the export-oriented development model and the other, and the development model directed towards maximizing the input-output tables and replacing imports within the national economy}.

He added, “Therefore, the sovereign wealth fund will adopt a vision that expresses the strength and basis of the interconnections between the outputs of national wealth from natural resources and the inputs of the production function in the national economy, which requires another model in managing sovereign wealth funds directed towards the interior.”
Saleh explained that “the sovereign fund will work to accelerate the diversification of the three basic sectors, which are the manufacturing industry, agriculture and services, in an advanced digital age. This is what the government program aspires to in its philosophy for the future of the national economy, which did not neglect the idea of ​​partnership between state activity and market activity in sustainable development.”

TIDBIT FROM FRANK26, 31 DEC

  Frank26   

What is Article 12 of the IMF? 

   The rate.  That's exactly what it is...The IMF demands a country has a currency that can move in and out of the country.  The IMF demands all currencies around the world have the ability to go into this country and also exit. 

 That's article VIII.  Article VIII is the freedom of that nation's currency to move in and out and other foreign currencies that are in there as well too.  Article VIII removes all restrictions...We're way past Article VIII.  We're at Article 14...Implementation of the new exchange rate.

500 Billion Dinars For Capital Projects By 2025, 30 DEC

 500 Billion Dinars For Capital Projects By 2025

Iraq  12/30/2024   Baghdad Provincial Council has prepared a plan for projects worth 500 billion dinars to be implemented during the coming year. While the Capital Municipality pledged a qualitative shift in services during the first four months of 2025, the Parliamentary Services Committee revealed that the focus will be on infrastructure and completing ongoing and stalled projects.

Ali Al-Hamidawi, a member of the Parliamentary Services Committee, told Al-Sabah: Baghdad Governorate’s plan for next year will be limited to ongoing and stalled projects and infrastructure.

He pointed out that the most important of these projects are the entrances to Baghdad-Hillah and Abu Ghraib, as they are part of the government program, as well as sewage projects, most notably Al-Mahmoudiyah, whose implementation this year has witnessed a significant delay, in addition to the implementation of infrastructure, including paving, sidewalks, health centers, and water stations, especially in the areas of Kuweirish and Al-Hussainiya.

Al-Hamidawi pointed out the impossibility of launching new strategic projects due to the allocated financial allocations amounting to nearly 400 billion dinars.

He explained that the ongoing projects, which number about 500, need large financial allocations, noting that Parliament seeks to overcome the legislative obstacles facing the capital next year, in order to implement the projects in the best possible way.

For his part, Baghdad Provincial Council member Mohammed Al-Shaalan told Al-Sabah: The governorate has prepared its plan for next year at a financial cost of about 500 billion dinars.

He added that the aforementioned plan includes projects in various sectors, including water, sewage, roads linking districts and sub-districts to the centre, and infrastructure in outlying areas.

He noted that the focus will be on deprived areas that have not been included in the service effort and are not included in the plans, indicating that 50 percent of the 2023 budget has been allocated to road and bridge projects and investment and strategic projects, in addition to the fact that the budget is distributed between the Baghdad Municipality and the governorate, and a small share of it goes to the outskirts.

In turn, the Director of the Projects Department in the Baghdad Municipality, Engineer Yaqzan Al-Waili, told Al-Sabah: The municipality has begun implementing 84 diverse service projects, the most prominent of which is developing all traffic intersections and decorating the streets with lighting and green areas, in addition to covering the sidewalks with Muqarnas.

He added that the first four months of next year will witness a qualitative shift in terms of services, after the completion of infrastructure works and cladding projects, noting that three municipal departments, namely Al-Kadhimiya, Al-Adhamiya and Al-Karkh Center, are close to completing the cladding works within their sector by 100 percent.

Al-Waili explained that the works currently being implemented in various areas of the capital include renewing water, sewage and rainwater networks, in addition to replacing side molds and paving streets with muqarnas, in addition to paving and covering streets and main roads, explaining that these projects aim to improve the service reality of the capital in conjunction with its selection as the Arab Tourism Capital for the year 2025.    https://alsabaah.iq/107912-.html