DINAR REVALUATION

Thursday, January 30, 2025

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

Chairman of the Finance Committee: Charting a new path to manage the financial situation in Iraq, 30 JAN

Chairman of the Finance Committee: Charting a new path to manage the financial situation in Iraq

Mawazine News – Baghdad

The head of the Finance Committee in the House of Representatives, Atwan Al-Atwani, confirmed on Wednesday that the committee has made its top priority to chart a new path to manage the financial situation in the country, by enhancing non-oil revenues.

A statement from the Finance Committee, received by Mawazin News, stated that Al-Atwani, accompanied by the delegation currently visiting the United Kingdom, met with the Lord Baroness of De Souse and the Director of the Oversight Unit in the British House of Commons, separately, in the presence of specialists from the International Partners Foundation.

The statement pointed out that the meetings dealt with the prospects of cooperation between the Finance Committee in the Iraqi Council of Representatives and the competent committees in the British House of Commons, with the aim of exchanging experiences in legislative and regulatory work to serve common interests.

Al-Attani, after being briefed on the structure of the British House of Commons and the House of Lords, explained that the Iraqi Council of Representatives needs to develop permanent specialized formations of experts to chart the course of legislative work, and complete the requirements of passing laws in a way that achieves the supreme interests of the country and is in line with development plans.

He stressed that strengthening the legislative authority with specialized formations will contribute to the maturation of laws and determining the actual need for legislation, away from personal jurisprudence.

Al-Atwani also stressed the need to reduce dependence on oil as a major source of revenue, pointing out that Iraq has other financial resources that can form basic pillars of the budget, such as customs, taxes, investment of state assets, the telecommunications sector, and other government services.

https://www.mawazin.net/Details.aspx?jimare=259157

TIDBIT FROM WALKINGSTICK, 30 JAN

Walkingstick

President Trump put the world on notice that the American dollar will be the reserve currency of the world with or without you.

Trump protects the United States dollar and the IQD. Our military forces have poured into Iraq from one area to refortify what we have.

Why?

To protect the reforms, to protect the currency. Trump was saying I'll take your oil but I'm going to drill baby,

therefore I'll take a new exchange rate for the IQD that I have in my reserves and deal, deal, deal or no deal...

FIREFLY: They are celebrating along with the US Treasury delegation here on a visit

PUK Supports Federal Budget Amendment to Enhance Oil Sector Transparency, 30 JAN

PUK Supports Federal Budget Amendment to Enhance Oil Sector Transparency

Harem Kamal Agha, Leader of PUK bloc in Iraqi parliament.

Iraqi parliament PUK oil and gas

The Iraqi parliament is set to vote on an amendment to the federal budget law, marking a significant step towards establishing a legal framework for cooperation between the federal government and the Kurdistan Regional Government (KRG) in the management of oil resources.

Support for Budget Amendment

Harem Kamal Agha, the Leader of the Patriotic Union of Kurdistan (PUK) bloc in the Iraqi parliament, told PUKMEDIA: “The PUK supports the amendment of the 2025 federal budget as per the bill provided by the federal government to the parliament.”

He continued, “This amendment will help implement the budget law, enhance transparency in the oil sector, and increase state revenues. We are keen to see this amendment legislated in the Iraqi parliament, rather than alternative bills.”

Oil File Gains Legitimacy

Harem Kamal Agha further said: “We support the legislation of the government’s proposal regarding Article 12 of the budget law, which outlines the estimated dues for extracting oil from the Kurdistan Region.”

He added, “The amendment specifies that the cost of oil production from the Kurdistan Region will be set at 16 dollars per barrel, with the final amount to be determined within 60 days. This amendment will resolve ongoing discussions about the oil file, as it will gain legitimacy once the oil is exported by the State Organization for Marketing of Oil (SOMO).”

Finance Committee Approves Amendment

The parliamentary Finance Committee recently voted in favour of a proposal to amend the section of the federal general budget law related to the resumption of oil exports from the Kurdistan Region.

Dr. Narmin Marouf, a member of the PUK bloc in the Parliamentary Finance Committee, told PUKMEDIA: “The Finance Committee has voted during its meetings to amend Article (12/Second/C) of the Federal General Budget Law, which pertains to the resumption of oil exports from the Kurdistan Region. According to the amendment we voted on, the actual cost of producing and transporting oil from the Kurdistan Region is set at 16 dollars per barrel. This amount will be paid as an advance to the Kurdistan Region until the actual value of oil production and transportation from each field is determined separately by the relevant advisory bodies, within 60 days of the implementation of the Federal General Budget Law.”

On November 5, 2024, the Council of Ministers approved the proposal to amend Article (12/Second/C) of the Triennial Budget Law No. (13 of 2023), setting the average actual cost of production and transportation of oil from the Kurdistan Region at 16 dollars per barrel.

PUKMEDIA

https://www.pukmedia.com/AR/Home

TIDBIT FROM CLARE. 30 JAN

Clare

Article: “Our relationship with America will become stronger with an initiative that Al-Sudani will announce soon.. Expectations of his advisor"

Quote: "Al-Din, the Prime Minister’s advisor for foreign affairs...expected Prime Minister Mohammed Shia Al-Sudani to announce a pioneering financial initiative that he said could change the business landscape in Iraq and strengthen its relationship with the United States."