MARKZ: Banks received a notice about currency revaluation!! @DINARREVALUATION #iraqidinarinvestor

 

Al-Sudani: We are a cornerstone in the stability of energy markets.. This is how we are viewed, 30 JAN

 Al-Sudani: We are a cornerstone in the stability of energy markets.. This is how we are viewed

Prime Minister Mohammed Shia al-Sudani said on Tuesday that Iraq has become a cornerstone in the stability of global energy markets, and is on the path to becoming a regional center for energy industries, indicating that countries have begun to view it in this way, and its position has begun to acquire a brighter image, during his speech at the Iraq Energy Conference.

Al-Sudani's office said in a statement:

Prime Minister Mohammed Shia Al-Sudani inaugurated today, Tuesday, the Iraq Energy 2025 Conference, which was held by the Iraq Development Platform in the capital, Baghdad, under the slogan (Together for a Promising Energy Future).

His Excellency stressed, in his speech, that the conference is an opportunity to learn about the state’s policies and programs in the energy sector, which occupies a pivotal position in all the government’s development plans and its commitment to modernizing and developing it, in parallel with the goal of diversifying the economy, in a way that positively reflects on other sectors.

The Prime Minister explained that a tangible digital achievement has been made since the government assumed its responsibility, through a set of commitments, most notably stopping gas flaring by 70%, benefiting from oil wealth, investing in natural gas, and expanding the production of petroleum derivatives, stressing the approach to full self-sufficiency in fuels and moving towards exporting gas oil, within a vision that aims to convert 40% of oil production into transformation industries by 2030.

Mr. Al-Sudani added that the government has proposed integrated energy projects to expand the benefit from oil production in one location, the most important of which is the Artawi field in Basra Governorate, and the accompanying project to desalinate seawater, generate solar energy, in addition to investing in gas, indicating that maximizing the non-oil economy is accompanied by maximizing returns from oil wealth, through expanding refining operations and petrochemical industries.

The following are the highlights of the Prime Minister’s speech during the conference:

The government has moved towards diversifying sources of income horizontally to solve the problems of unemployment and the single economy, towards creating real job opportunities.

Partnership with the private sector was the first window for development, and one opportunity to work with it leads to the creation of many other opportunities.

The government has relied on strategic projects that support all sectors of development and the economy, the most important of which is the “Development Road.”

We have included in the design of the development road lines lines for transporting oil and gas, in addition to communications to achieve the connection between Asia and Europe, and to provide investment opportunities.

We have developed a plan to invest in human capital and develop capabilities and skills to keep pace with technology and techniques, especially with the expansion of artificial intelligence applications.

The electricity sector has become an important developmental and economic nerve, and it can be transformed into a basic gateway to development in Iraq.

Developing the energy transmission and distribution network, and adopting modern and smart technologies, will reduce waste, lower harmful emissions, and enhance sustainable development.

The Ministry of Electricity announced the new economic model for thermal power plants that aims to produce an additional 15,000 megawatts.

The large and important package of energy production projects for gas stations will be announced according to the new model.

Partnership with the private sector is important to save time and effort in confronting climate change and addressing water scarcity in Iraq.

We sought to introduce renewable, clean and alternative energy elements, and we started actual implementation in the field of solar energy.

We have renewable and clean energy projects that will have a production capacity of 4,875 megawatts upon completion.

Purchase of home solar energy systems as part of the Central Bank’s support for the (1 trillion dinars) initiative of loans.

We are proceeding with the electrical connection with the Gulf countries and Turkey, reaching the European Union electricity grid, to achieve diversity and integration in the energy field.

Iraq's global standing is gaining a brighter image in economic growth, reforms and increased levels of cooperation in all energy forums.

Iraq has become a cornerstone of global oil market stability and is on its way to becoming a regional energy hub.

Iraq contributes to the stability of the global oil market by relying on a strong and solid economy.  link

TIDBIT FROM MARKZ, 30 JAN

 MarkZ   

[via PDK]  

“The region demands more dollars-and the center and the south rise up and refuse to pass the budget” 

  We had seen articles like this in Kuwait just before they released their RV. The same back and forth in articles….and Kuwait said they were not going to increase the rate for 6 months the same exact day they released it…. 

China and Germany did the same thing...

 I was told that there is so much pressure and Iraq has agreed to settle in the next 3 days…

also they have a team already in Baghdad from the Kurdish region with great hope to settle this debate on the budget tables...

WALKINGSTICK: I'll take a new exchange rate for the IQD that I have in my reserves and deaL!!#iqd

 

Central Bank Governor announces imminent launch of major initiative to finance industrial projects, 30 JAN

  Central Bank Governor announces imminent launch of major initiative to finance industrial projects

The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Tuesday, the imminent launch of an initiative to finance industrial projects, while pointing out that financial stability is no less important than political and security stability.

The Governor of the Central Bank, Ali Al-Alaq, said in a dialogue session during the Iraq Energy Conference, which was followed by "Al-Eqtisad News", that "the initiatives undertaken by the Central Bank represent tools to move the wheel of development and enhance economic stimulus, and they are unconventional policies aimed at supporting the overall economy.

" He added that "the Central Bank is one of the global banking institutions that adopt unconventional monetary policies," noting that "the size of the accumulations in the aspects of backwardness in the infrastructure is a major challenge."
He explained that "the Central Bank is concerned with achieving economic stability, especially since energy factors are directly linked to the economic situation by supporting factories, companies, and others."

He pointed out that "the Central Bank intervenes in supporting and financing various projects, including renewable energy projects, whether through direct or indirect support."
He pointed to "the importance of monetary and financial stability," indicating that "it is no less important than political and security stability."

He continued that "the Central Bank has launched multiple initiatives to finance real estate and small and medium-sized projects, as projects worth 13 trillion dinars have been financed since 2016 until now, which has contributed to the sustainability of the economy, in addition to allocating 1 trillion dinars to encourage citizens and companies to purchase solar energy units."

He added that "there are ongoing arrangements to finance industrial projects in coordination with the Trade Bank of Iraq and the Industrial Bank," indicating that "the liquidity available at the Trade Bank of Iraq will be used to support these projects, in addition to the funds of the Industrial Bank, with the aim of launching a major initiative to finance industrial projects, which is expected to see the light soon."

He stressed that "the Council of Ministers has agreed to enhance cooperation between government banks with a financial surplus to finance industrial projects through the Industrial Bank, as it is the competent authority in this field," stressing "the imminent launch of this major initiative  link

TIDBIT FROM MNT GOAT, 30 JAN

 Mnt Goat  

Article:  “IRAQ BOOSTS FINANCIAL STABILITY WITH HUGE DOLLAR AND GOLD RESERVES IN US, EUROPE”.  

 ...Boy, oh boy they are teasing us dinar investors once again. They are flaunting their wealth once again but the IQD is still at 1/6 of a penny and NOT traded on FOREX? 

 Meanwhile Iraq has 43% more oil reserves than Kuwait...and just founded two more major wells besides....

Kuwait is at 1 KWD = 3.25 USD on FOREX...

If we pay attention we can see the writing is on the wall and their economists see it now too.

MNT GOAT: Making the value of one dinar equal to one dollar ...!! @DINARREVALUATION #iraqidinar.