MAJEED: READY TO GO ON FOREX!! @DINARREVALUATION #iraqidinar #iraqidinarinvestor

 

FRANK26: "NO DUTCH DISEASE FOR THE MONETARY REFORM", 18 JAN

 KTFA

FRANK26: "NO DUTCH DISEASE FOR THE MONETARY REFORM".......F26

Non-oil GDP growth in 2024 will raise national investment in 2025 - Al-Sudani Advisor

1/15/2025

 

Mazhar Saleh, the Prime Minister's Advisor for Financial Affairs, confirmed today, Wednesday, that the growth in the non-oil GDP, which reached 6% in 2024, will positively reflect on the strength of national investment in 2025.

Saleh said, in a statement to the official agency, followed by the 964 network , that “there is a principle in economics called the economic accelerator, which means that the growth in the non-oil GDP, which reached 6% in 2024, will be positively reflected in the strength of national investment in 2025.”

He added, "The Iraqi economy will witness a high investment boom in 2025 thanks to the economic accelerator factor in the investment field, in addition to the high positive growth effects of national income in 2024."

He pointed out that “businesses and investors are influenced by the results of the basic idea behind the economic accelerator, which indicates that any increase in demand for goods and services as a result of national income growth in 2024 could lead to increased investment in capital such as machinery, equipment and labor in 2025.”

He added, “Businesses and companies need to expand their production capacity to meet the growing demand for goods and services, which will lead to a positive accumulation in the national economy’s production capacity in 2025, and this is what can be expected, especially if this is accompanied by a good agricultural season and a wet year in the coming months.”

He added, "Iraq's economic path is moving in the right development direction for the coming years in a remarkable and positive way, thanks to the cooperation of the private and public sectors together."

LINK

 

REINALDO JC : IRAQ UPDATE, 18 JAN

 REINALDO JC

IRAQ The Pressure is mounting & coming from the U.S. The US State Department URGED the Iraqi parliament to expedite the vote & passage of Iraq's federal budget!!! However, In order for Iraq parliament to APPROVE the federal budget, Iraq Central Bank (CBI)-1st have to EXPOSE/CHANGE/INCREASE the Dinar rate!!! Coincidence-CBI also mentioned today switching over to the FOREX market!!! Sir, the balls on your court CBI

Jon Dowling & Russell Brown Discuss The Great Wealth Transfer Jan 2025

FRANK26: "SUDANI SEEKS SECURITY & STABILITY WITH EVERYONE" 18 JAN

 KTFA

FRANK26: "SUDANI SEEKS SECURITY & STABILITY WITH EVERYONE".............F26

Al-Sudani: I will present the British agreement to the Iraqi parliament

 

1/15/2025

 

Prime Minister Mohammed Shia al-Sudani confirmed, on Wednesday, during his meeting with a press delegation, his intention to present the British agreement to the Iraqi parliament upon his return to Baghdad .

The Prime Minister's Office stated in a statement received by Shafaq News Agency that "Al-Sudani received at his residence in the capital, London, a group of senior editors-in-chief of Arab newspapers, opinion writers, and Arab and foreign journalists."

Al-Sudani spoke, according to the statement, about "his official visit to the United Kingdom and his meetings with King Charles III and British Prime Minister Keir Starmer, and the importance and size of the security, economic and development agreements concluded during the visit," stressing that "the bilateral agreement will be presented to the House of Representatives for the purpose of ratification."

Al-Sudani pointed out, "The state of stability and prosperity that Iraq is experiencing despite the political fluctuations witnessed in the region, and the government's success in keeping Iraq out of regional conflicts, while adhering to the principled position regarding the aggression on Gaza and Lebanon."

He pointed out his political vision for the internal Iraqi situation, and his steps to maintain security and stability in Iraq and the region, stressing "Iraq's standing with the Syrian people in facing crises and challenges."

Al-Sudani also touched, according to the statement, on "the government's steps in the field of economic integration," noting "proceeding with electrical interconnection with neighboring countries, and establishing related stations, in addition to cooperation in the fields of real estate development, and building new cities, within a development renaissance planned by the government program and included strategic projects, and creating a transition in the infrastructure on which sustainable development depends."

In his speech, the Prime Minister pointed out "the signing of the contract between Iraq and British Petroleum, which is the largest in the region," stressing "Iraq's move to develop its oil industry, expand the production and export of oil derivatives, invest in Kirkuk fields, and reach full investment in associated gas."

LINK

Chapter Summary: The Dynamics of Dollar Transfers in Iraq Post-Central Bank Suspension, 18 JAN

 Chapter Summary: The Dynamics of Dollar Transfers in Iraq Post-Central Bank Suspension

Introduction

In recent developments within the Iraqi financial system, the suspension of the Central Bank of Iraq’s (CBI) currency auction window has prompted significant changes in the mechanisms for transferring U.S. dollars. 

This chapter explores the implications of this transition, focusing on the dollar transfer mechanisms, the role of foreign banks, and the impact on Iraq’s economy. The discussion highlights critical vocabulary and key concepts such as currency auctions, cash liquidity, import data, and forgery. Understanding these themes is vital as they reflect the complexities of Iraq’s financial landscape and the pressures exerted by international entities like the U.S. Treasury.

The Suspension of Currency Auctions

• Central Bank’s Decision: The CBI has halted its direct currency auctions, which has significantly altered the way dollar transfers are facilitated within Iraq.
• Shift to Banks: Traders are now interacting with local banks that have international connections rather than the CBI, which marks a critical shift in currency handling.
• Positive Outlook: Al Tamimi, a financial analyst, noted that despite the change in method, dollar transfers would continue, indicating resilience in the financial system.

Monopoly Concerns in Dollar Transfers

• Monopoly of Foreign Banks: There is growing concern that dollar transfers have become monopolized by a select number of banks, primarily foreign institutions. This raises issues regarding the accessibility of dollars for local traders.
• Local Banks’ Role: The CBI is under pressure to empower local banks to lead foreign transfer operations, which is essential for maintaining sovereignty over the currency market.

Monitoring and Compliance

• U.S. Treasury’s Oversight: The CBI’s new operations are closely monitored to prevent Iraq from facing further sanctions due to potential illegal transfers. This oversight is especially pertinent given that the U.S. Treasury occupies a prominent position in the new CBI building.
• Importance of Data Accuracy: The accuracy of import data reported by the CBI is critical, as discrepancies could lead to significant financial crises.

Financial Crisis and Dollar Sales

• Crisis Indicators: The rising volume of dollar sales at currency auctions has raised alarms about Iraq’s financial health. Reports indicate that the CBI’s sales have often exceeded the necessary amount for covering imports.
• Import Data Discrepancies: There is a notable difference between the actual dollar sales needed for imports (approximately $50 million) and reported sales that have reached  $300 million. This discrepancy is attributed to fraudulent documentation.

Forgery and Smuggling Issues

• Forged Documentation: Investigations revealed that many import claims were based on forged documents, leading to inflated dollar requests.
• Smuggling Concerns: The excess dollars that surpass legitimate import needs are being funneled into smuggling operations, further complicating the economic situation.

The Shift to Gold as a Safe Haven

• Rising Dinar Value: Amidst the financial uncertainty, there is a noted increase in the value of the Iraqi dinar. This shift is accompanied by a growing trend of individuals investing in gold as a protective measure for their savings.
• Gold as a Stable Investment: Gold is recognized for retaining value over time, making it an attractive option for those looking to safeguard their wealth against currency fluctuations.

Impending Financial Opportunities

• Self-Employment Relief: The speaker emphasizes that self-employed individuals may soon receive substantial financial relief, potentially amounting to $32,000 per person, as part of government support following the pandemic.
• Call to Action: The speaker encourages viewers to stay informed and check their eligibility for these financial benefits, indicating a proactive approach to capitalizing on available resources.

Conclusion

The suspension of the CBI’s currency auction has initiated a complex restructuring of dollar transfer mechanisms in Iraq. While this transition has raised concerns about the monopolization of currency transfers by foreign banks and the implications of potential forgery and smuggling, it also presents an opportunity for local banks to emerge as leaders in foreign currency transactions.

 The ongoing monitoring by the U.S. Treasury reflects the international community’s interest in stabilizing Iraq’s financial system. As the Iraqi dinar gains value and individuals turn to gold for security, the financial landscape remains dynamic and fraught with challenges. The forthcoming financial opportunities for self-employed citizens highlight the potential for recovery and growth amidst adversity.

In summary, understanding these dynamics is crucial for grasping the current state of Iraq’s economy and the strategic moves necessary to navigate this evolving environment.

WALKINGSTICK: IRAQI BANK FRIEND AKI : THEY'RE DE-DOLLARIZING THE WHOME MIDDLE EAST!‪@DINARREVALUATION‬