Frank26
We are waiting for this amendment to be completed for article 12...Parliament will have to deal with the budget line by line which will require an exchange rate. 1310 mathematically will not work with all the major projects and contracts they have.
We are very close to this budget exposing its guts...Every day we seem to be getting closer and closer to the reality of a new exchange rate with lower notes to match.
Dollar Prices Close High In Baghdad And Erbil At The Beginning Of The Week
Economy | 01/25/2025 Mawazine News – Baghdad The dollar prices rose in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, on Saturday, with the closing of the stock exchange at the beginning of the week.
The dollar prices also rose with the closing of the Al-Kifah and Al-Harithiya stock exchanges, recording 150.850 Iraqi dinars for every 100 dollars, while the prices were 150.700 dinars for every 100 dollars this morning. Our correspondent indicated that the selling prices in the exchange shops in the local markets in Baghdad stabilized, as the selling price reached 151.750 Iraqi dinars for every 100 dollars, while the purchase price reached 149.750 dinars for every 100 dollars.
In Erbil, the dollar also recorded a rise, as the selling price reached 150.700 dinars for every 100 dollars, and the purchase price reached 150.600 dinars for every 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=259001
DINAR INVESTORS CC HIGHLIGHTS NOTES
In this detailed video, the host of “Patreon Dinar Investor” discusses significant developments in Iraq’s economic landscape following the country’s participation in the World Economic Forum in Davos.
The video emphasizes the importance of remaining grounded during this critical investment period as vital information continues to emerge. The host provides an overview of various economic initiatives scheduled for February,
indicating that a currency rate change appears to be imminent. Key highlights include the launch of a new international portal for mortgages, the Baghdad International Fair, an upcoming Innovation Conference with the UK, and Iraq’s strengthening political stability that positions it as a promising investment destination.
Discussions about the upcoming visit of Iraqi officials to Washington further suggest that Iraq is on the cusp of revaluing its currency and cementing its role in the global economy. The host urges viewers not to be misled by the timeline of events, indicating that preparations for economic partnerships and investment agreements are already in place and that the anticipated rate change may occur sooner than expected.
🔍 Investment Focus: The Baghdad International Fair is not just a trade event; it’s strategically designed to attract international investors. The enhanced preparations and diversified participation signal Iraq’s serious commitment to establishing itself as a significant player in the global economy. The fair emphasizes an investment-friendly environment and is likely to foster partnerships that can lead to substantial economic growth.
💼 Economic Reforms and Banking Modernization: Iraq’s move towards electronic banking, while distinct from digital currencies, signifies a major step in banking reform. This modernization is essential as it aligns with global banking standards and enhances efficiency, thereby making Iraq’s banking sector more attractive to foreign investors.
🏗️ Infrastructure Development: The agreements worth approximately $15 billion drafted during the recent UK delegation trip underline Iraq’s commitment to extensive infrastructure upgrades. This focus on modernization is crucial for attracting foreign direct investment, as robust infrastructure is a foundational requirement for economic development.
🌐 Political Stability as a Foundation for Growth: The assertion that Iraq’s domestic political stability has transformed it into an international hub for investment is significant. Political stability is a prerequisite for economic growth and attracting foreign investments. The current government’s role in mediating regional conflicts and fostering diplomatic relations enhances Iraq’s stature on the world stage.
🤔 Timing of the Rate Change: The host suggests that the timing of the currency rate change may not align with the upcoming economic discussions in March and April. Instead, they imply that the groundwork for these discussions is already in place and that the rate change could occur sooner than anticipated, potentially before the scheduled meetings.
🚀 Future Economic Partnerships: The planned discussions with the American Chamber of Commerce and other US entities during the delegation’s visit imply that Iraq is not merely seeking to establish new agreements but is poised to implement existing ones. This proactive approach indicates Iraq’s readiness to engage in substantial economic activities following the anticipated rate change.
📊 Budgetary Challenges and Resolutions: The ongoing tensions between the federal government and the Kurdistan Regional Government over budget amendments indicate that internal political dynamics could affect Iraq’s economic stability. However, the Prime Minister’s office has acknowledged the need for constitutional adherence in budget amendments, suggesting a willingness to resolve these disputes collaboratively to ensure economic progress.
In conclusion, the video provides a comprehensive overview of Iraq’s evolving economic landscape, highlighting critical initiatives and the interplay of political stability and investment opportunities. As the country navigates this pivotal period, the focus on international partnerships, infrastructure development, and banking reforms positions it for significant growth in the near future. The insights presented emphasize the importance of monitoring these developments closely, as they may indicate a transformative shift in Iraq’s economic trajectory.
Governor of the Central Bank of Iraq meets an official delegation from the United States
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received Mr. Steve Lutes, Vice President of the US Chamber of Commerce and Chairman of the US-Iraq Business Council, and his accompanying delegation in Baghdad.
During the meeting, they discussed banking and economic relations between the two countries and the upcoming visit of the Central Bank of Iraq delegation to Washington and their meeting with the US Chamber of Commerce and American companies next April.
The meeting discussed the desire of American companies to invest in the energy, infrastructure and modern technology sectors and to invest in the security stability witnessed by Iraq.
His Excellency the Governor stressed during the meeting that the Central Bank of Iraq supports the economic growth process in Iraq and provides the necessary support to international companies wishing to invest in Iraq, including American companies and banks, noting the importance of diversification in investment sectors.
The two parties also discussed the mechanisms of international trade and the process of Iraq's transition to fully operating in foreign transfers through correspondent banks. The Director General of the Investment Department and the Director General of the Banking Control Department attended from the Central Bank, in addition to His Excellency the Governor.
Central Bank of Iraq
Media Office
January 26, 2025 link
Mon. 27 Jan. 2025 Wolverine
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