AL-SUDANI: THE DEVELOPMENT ROAD PROJECT WILL ENHANCE IRAQ’S POWER IN THE REGION
Prime Minister Mohammed Shia al-Sudani confirmed today, Sunday, that the development road project will enhance Iraq’s strength in the region, politically and economically.
During his reception of the Director of the Iraqi Institute for Dialogue, Abbas Radhi Al-Amiri, according to a statement from his office received by “Al-Eqtisad News”, Al-Sudani was briefed on the work of the organizing committee for the Seventh Baghdad International Dialogue, whose activities will start on February 22-23, 2025 under the slogan “The Path to Iraqi Development… Alliance of Interests and Geopolitical Stakes”, noting that choosing this topic falls within the great Iraqi interest in the project, which gives the country a pivotal role in the regional system as an important point of communication between the East and the West.
According to the statement, Al-Sudani expressed his “sponsorship of this annual international gathering hosted by the capital, Baghdad, which hosts an elite group of the most important decision-makers in the region and the world.”
1. Tony said he is 99.9% sure the RV will happen within two days.
2. The RV should have happened last week.
3. There is a meeting going on right now discussing when to release the authorization codes.
4. Today at 2:00 pm the window opened.
5. They were making sure there was no problem with certifying the election for the President of the US.
6. Tony was told that Tuesday or Wednesday the RV will start for us.
7. Nothing else has changed.
8. Tony was told over the weekend that it was our turn. That is "we are next in line."
9. The window is open...
10. The RV will be on FourX this Friday for the general public.
11. Question: Do we need a trust now. Answer: No
12. There was a long discussion on the Bolivar. The final word was $0.38 to $0.83 depending on the amount you have and your negotiating skills.
13. All Bolivar dated 2018 plus are good.
14. Question: People in Kurdistan are being paid now. We were told that when Kurdistan gets paid we were to be paid at that time. Answer: That's still true.
15. All countries have stated they want the RV before January 20, 2025. Before trump takes the office of the President of the United States.
16. Question: is this a done deal? Answer: Tony said he is 99.9% sure it is. He will only be 100% sure when he gets the Code.
17. All banks work the same way. When you deposit a large check you can get a small amount of money at the time of said deposit. The exchange will work the same way. You can get 10% of your deposited amount immediately and 90% within 72 hours.
The media office of the Speaker of the House of Representatives stated in a statement received by “Kalima News”: “During the meeting, the general situation in Iraq was discussed, and ways to enhance cooperation and existing partnership between the two countries, with emphasis on the United States’ support for Iraq in various fields, in a way that enhances stability and development.”
According to the statement, the meeting also discussed “a number of topics of common interest, including developments in the regional situation and their effects on the Iraqi arena.”
Dr. Al-Mashhadani stressed the importance of strengthening relations between Iraq and the United States within the framework of common interests, stressing the need to continue dialogue and cooperation to support Iraq’s stability and continue efforts to confront political and economic challenges.
(Let’s hope the Trump administration is much more responsive than the past Biden four years.)
I will be calling on Wednesday and relaying the info of my call to you on Thursday. I will ask about this Oil and Gas Law again.
Remember too that I need to unwind the mystery of what the hell is holding up the Project to Delete the Zeros and move ahead. Could simply be the Oil and Gas Law?
The CBI seems to be at a standstill now.
It is my understanding, as told to me by my CBI contact, that they are monitoring the parallel market very closely at this point.
They are monitoring the economy for inflation as a result of this latest move of removing the currency auctions.
So far, the dollar has not changed all that much. The enormous spike in the dollar rate everyone expected did not occur, as the CBI said it would not.
IRAQ’S OIL WEALTH: A STARK CONTRADICTION BETWEEN POTENTIAL AND SOCIAL REALITY
Although Iraq is one of the most prominent oil producing and exporting countries in the world, the social and economic reality in the country shows a stark contradiction between the enormous potential and the increasing levels of poverty.
(Yet, it is documented that trillions of dollars not dinars, has been stolen from the Iraqi people since the 2003 invasion. The goose with the golden eggs era is over! )
This contradiction raises questions about the shortcomings in resource management and the mechanisms that prevent oil revenues from being translated into tangible welfare for citizens.
Multidimensional poverty: more than just numbers
Poverty is no longer measured by individual income; the severity of deprivation in daily living requirements is a more accurate measure. This deprivation includes sectors such as education, health, and living services.
In Iraq, the percentage of poor people is 23.4% of the population according to last year’s statistics, compared to 22% in 2000, which means that the number of poor people has doubled from five million to ten million people over the past two decades.
But these figures do not reflect the full picture. In southern areas such as Muthanna and Diwaniyah, the poverty rate exceeds 50%, while it drops to only 5% in Sulaymaniyah. This gap highlights regional disparities in the distribution of resources and services, which exacerbates the feeling of deprivation in some governorates.
Causes of worsening poverty: financial corruption and structural crises
Iraq used to suffer from poverty due to the economic blockade and weak economic activities. Now, financial and administrative corruption is the main reason, as oil revenues are wasted on ineffective projects or leaked into the pockets of the corrupt. Although oil revenues have increased fivefold since 2000, the rentier economic system and the lack of economic diversification have increased the state and society’s dependence on oil, without developing other sectors such as industry and agriculture.
In the education sector, 3.2 million Iraqi school-age children are out of school, due to financial distress and lack of infrastructure. In the health sector, while some suffer from malnutrition, food waste rates are high due to consumption habits. This paradox reflects weak planning and poor control of resources.
Electricity services are a chronic crisis in a country with the world’s fifth-largest oil reserves. Despite state subsidies for energy prices, citizens are forced to rely on expensive private sources due to frequent outages. This gap between government supply and actual demand burdens poor families.
To reduce poverty, Iraq relies on tools such as the Social Fund for Development, social welfare, and food rations.
But these tools face major challenges, such as poor funding, corruption, and the inability to reach all those who deserve it.
Iraq can benefit from successful international experiences, such as the Chinese experience, which focused on creating job opportunities by exploiting economic growth, or the experience of other countries that relied on improving basic services.