ECONOMIST: THE COUNTRY’S FINANCIAL SITUATION IS AMONG THE MOST PROSPEROUS YEARS, 31 JAN

 ECONOMIST: THE COUNTRY’S FINANCIAL SITUATION IS AMONG THE MOST PROSPEROUS YEARS

Economic expert Nabil Al-Marsoumi confirmed that “the country has large cash reserves, which are greater than 100 percent of the volume of the issued currency.”

Al-Marsoumi promised in a statement seen by Al-Masry today, Thursday, that the percentage for a country like Iraq that maintains cash reserves equivalent to between 20 and 40 percent of the volume of the issued currency is positive, indicating that the financial situation is reassuring as it has exceeded 100 percent, and thus the cash reserves in the country are very large, pointing out the importance of the matter, as it represents a firewall in the face of crises that may occur, even if they are caused by a decrease in the price of oil.

Al-Marsoumi added, “The Central Bank can provide a major source of protection for the Iraqi government if it needs some financial supplies by deducting remittances from government banks,” explaining that “the financial situation that the country is experiencing is among the most prosperous years in terms of foreign exchange reserves.”

Al-Marsoumi said, “Iraq ranked third in the Arab world in terms of foreign exchange reserves for the year 2024,” adding, “Despite the slight decrease in foreign exchange reserves in the Central Bank of Iraq from (109,153) billion dollars in 2023 to (106.7) billion dollars in 2024 according to data from the Central Bank of Iraq, as a result of the deduction of remittances to the Iraqi government, the financial situation in Iraq is still cohesive, and it occupies the third place after Saudi Arabia and the Emirates, whose reserves amount to (499) billion dollars for Saudi Arabia and (210) billion dollars as reserves for the Emirates.”

REINALDO JC: IRAQ UPDATE, 31 JAN

 REINALDO JC

IRAQ I see A lot of distraction, confusion, dis/misinformation coming from Iraq News Articles, Government on both sides of the isle, Advisors, Economists, Ex Politicians, etc etc. Guys, It’s happening on purpose by design to keep you away from this investment frustrated & to throw in the towel. The U.S. Treasury is there for a reason. The World banks need this liquidity asap. Stay humble, focused & remove yourself emotionally Let’s see what happens this upcoming Sunday with them stating they will be voting/approving the budget. ACTION speaks louder than words.. The Central Bank of Iraq has NO CHOICE but to INCREASE the Dinar Exchange Rate for the 2025 budget!!! (imo)

FIREFLY: Forex would be international and like you want, the float!! @DINARREVALUATION #iraqidinar

 

WORLD BANK PLEDGES TO FINANCE OIL AND ENERGY PROJECTS IN IRAQ, 31 JAN

 WORLD BANK PLEDGES TO FINANCE OIL AND ENERGY PROJECTS IN IRAQ

DURING A MEETING WITH AL-SUDANI

The World Bank announced today, Tuesday, its pledge to finance a number of oil, energy and infrastructure projects in Iraq, during the reception of the Prime Minister, Mohammed Shia Al-Sudani, the Vice President of the World Bank for the Middle East and North Africa region, Othman Dayon, where ways of cooperation between Iraq and the World Bank were discussed, and the progress of development projects in Iraq.

Al-Sudani’s office said in a statement :

Prime Minister Mohammed Shia Al-Sudani received today, Tuesday, the Vice President of the World Bank for the Middle East and North Africa, Mr. Osman Dayon, where they discussed ways of cooperation between Iraq and the World Bank, and the progress of development projects in Iraq.

The Prime Minister pointed out that development projects that aim to maximize the non-oil economy and contribute to job creation are a priority for the government, stressing the continuation of economic reforms that support the private sector, and that the World Bank is called upon to enhance this experience.

His Excellency explained that the government considers the World Bank an important partner in the reform process, and that the Ministerial Council for the Economy has approved the program that was approved by the Ministry of Planning in cooperation with the World Bank, especially since the results of the reform steps in the customs and tax fields have begun to appear in a tangible and positive manner.

The meeting witnessed discussions on financing the old railway rehabilitation project and financing a number of other development projects, as Mr. Dayon pledged the bank’s financing of a number of oil, energy and other infrastructure projects. The International Finance Corporation’s contribution to financing a number of private sector projects was also discussed.

TIDBIT FROM MILITIAMAN, 31 JAN

 Militia Man 

 We are watching Iraq be reborn into a digital age. A new economic renaissance is underway now. 

 The gears of progress being witnessed by all of the world effectively are front and center. There is no stopping Iraq's direction she is taking. It is an awesome thing to watch.

FIREFLY: THEY WILL COEXIST!! @DINARREVALUATION #iraqidinarinvestor #iraqidinar

 

Al-Sudani: The House of Representatives must approve the budget amendment without change, 31 JAN

 Al-Sudani: The House of Representatives must approve the budget amendment without change

Baghdad: Morning

Prime Minister Mohammed Shia Al-Sudani hosted a meeting at the government palace on Wednesday evening that included the heads of parliamentary blocs, in the presence of the Speaker of the House of Representatives Mahmoud Al-Mashhadani, and his deputies Mohsen Ali Al-Mandalawi and Shajan Abdullah.

According to a statement by the Prime Minister’s Media Office received by Al-Sabah, “the meeting witnessed a review of the progress of the implementation of the government program, and the importance of supporting government steps in completing service and economic projects with direct contact with the lives of citizens.”

The recent amendment to the budget law received by the government on the law was also discussed, as the Prime Minister confirmed the commitment to this text, which deals with the issue of the cost of producing a barrel of oil, which was approved by the Council of Ministers, the same text that was voted on within the Parliamentary Finance Committee.

Al-Sudani pointed out the need for the House of Representatives to approve this amendment without change, to complete the development plans, in accordance with the economic interest of Iraq, and the vision adopted by the government program approved by the House of Representatives.

For their part, the Speaker of the House of Representatives, his deputies and the heads of the parliamentary blocs expressed their support for the adoption of the government text sent in the amendment to the Federal Budget Law.

It was also emphasized that the government’s plans and programs were assigned to achieve the best interests of Iraqis everywhere.

https://alsabaah.iq/109341-.html