Friday, January 31, 2025
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)
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.
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