Sunday, February 2, 2025

JEFF: THE 'development renaissance' in Iraq" MUST COME FIRST BEFORE THE CHANGE OF RATE!! #iraqidinar

Since morning until now… Federal Finance reveals the details of the meeting of the settlement of the salaries of the Kurds, 2 FEB

Since morning until now… Federal Finance reveals the details of the meeting of the settlement of the salaries of the Kurds

Shafak News / The Federal Ministry of Finance confirmed, on Saturday evening, that work will continue with the Kurdistan Regional delegation since the morning until late at night to find solutions to the issue of the salaries of the region’s employees and retirees.

A statement from the Ministry of Finance and response to Shafak News Agency said that “Minister Taif Sami participated in all the meetings held that witnessed extensive discussions in order to reach fair solutions that guarantee the rights of all citizens, in accordance with the legal and financial controls in force. The minister also attended the meeting with the delegation of the region, headed by Fouad Hussein, and in the presence of the Minister of Finance of the region, his advanced staff and employees, as well as the presence of the advanced staff from the Federal Ministry of Finance.

The statement quoted the minister as stressing after the end of the meeting the need to “hold a meeting at the Ministry of Finance in order to directly audit and confirm the annual and monthly lists and costs and make the required amendment as soon as possible.”

The Ministry of Finance added that “work is underway with the joint committees headed by the minister and the technical committees of both parties from the morning until late this night for the purpose of checking and matching the data of civil retirees’ salaries, contracts and social protection so that we can launch them properly.”

The Ministry of Finance and Economy of the Kurdistan Regional Government said earlier in the day that its technical teams, and the others of the Federal Ministry of Finance, are close to ending their work.

The delegation of the Kurdistan Regional Government with the Federal Ministry of Finance continues their meetings in the capital Baghdad for the second day in a row.

In this regard, the Kurdistan Finance said in today’s statement that the meetings of the technical teams between the two ministries are continuing in order to solve technical problems, and the work is expected to be completed as soon as possible.

A meeting was held on Friday at the house of Foreign Minister Fouad Hussein, where the delegation of the regional government consists of about 20 people headed by the Kurdistan Finance Minister with the participation of many directors general in the ministry, to discuss the salary of December 2024 and the salaries of 2025.

The Minister of Finance and Economy in the Kurdistan Region, Awat Sheikh Janab, confirmed on Friday that the meeting in Baghdad was positive about the salaries of employees, and we hope to resolve the case on Sunday.

Janab said in an interview with journalists, with the participation of Shafaq News Agency, that “the atmosphere of the meeting in Baghdad was very positive and we discussed the issue of employees’ salaries and schedules,” adding that “we hope to end the work and the financing of salaries on Sunday (February 2).”

The roots of the salary crisis in the Kurdistan Region date back to 2014, when the differences between the federal government in Baghdad and the Kurdistan Regional Government escalated regarding the management of the two budget oil files, in addition to the consequences of the war on ISIS and the decline in oil prices and the subsequent corona pandemic in the world.

Baghdad stopped sending the region’s share of the budget, and the regional government responded by exporting oil independently, and this conflict led to disruption in the mechanisms of paying salaries, starting a series of delays and financial accumulations.

Since that time, there have been many attempts to find compromises between the two parties, most notably the financial agreements that provided for the disbursement of the region’s share of the budget in exchange for its commitment to export specific quantities of oil, although these agreements have not been fully implemented due to continued lack of trust and political differences between the two sides.

As the differences continue, citizens in the region bear the greatest burden, as calls have recently increased from political and economic activists for the need to implement the decisions of the Federal Court, which affirmed the right of citizens to receive their salaries without any delay, while the biggest challenge remains to find a final solution that ensures the sustainability of the payment of salaries and the removal of its file from politicization.

https://www.shafaq.com/ar/سیاسة/منذ-الصباح-ولغاية-ال-ن-المالية-الاتحادية-تكشف-تفاصيل-اجتماع-تسوية-رواتب-الكورد

TIDBIT FROM MILITIAMAN, 2 FEB

Militia Man

We find out they had 300 businessmen with expertise yesterday, you have 1000 companies coming in tomorrow, you have the 12-2 C for the general budget on the table for Sunday and you have celebrations with TV screens on the streets, in homes and on news websites.

I don't know if you guys see what I see but I don't think there's any coincidences in all the information...but we're going to watch and see because you never know what happens...

I don't think anybody has ever seen what we're seeing today...I'm pretty excited about it just as you should be!

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

“Iraq is witnessing a diligent movement.” Al-Sudani: Financial transfers take place in compliance with international standards, 2 FEB

“Iraq is witnessing a diligent movement.” Al-Sudani: Financial transfers take place in compliance with international standards

Fourth – Baghdad

Prime Minister Mohammed Shia Al-Sudani confirmed on Saturday that financial transfers are taking place in compliance with international standards, during the opening of the Baghdad International Exhibition in its 48th session.

Al-Sudani said in his speech during the opening of the Baghdad Exhibition followed by (Fourth): “We open today the 48th session of the Baghdad International Exhibition to be a hopeful addition and look forward to productive and promising partnerships and stronger cooperation that enhances facing challenges and maps well-being and confident economic growth.”

The Prime Minister continued: “I welcome the representatives of 1,225 companies and destinations participating in this year’s session that carry communication messages and constructive partnership plans from 22 brotherly and friendly countries.”

https://www.faceiraq.org/article/260320/العراق-يشهد-حركة-دؤوبة-السوداني-التحويلات-المالية-تجري-ضمن-الامتثال-للمعايير-العالمية

IRAQ ECONOMY UPDATE HIGHLIGHTS, 2 FEB

IRAQ ECONOMY UPDATE HIGHLIGHTS

Highlights

💰 Currency Revaluation Anticipation: Analysts suggest a possible revaluation of the Iraqi Dinar is on the horizon, with many expecting significant changes soon.
📈 Strong Economic Indicators: Iraq’s cash reserves exceed 100% of the issued currency, indicating a robust backing for the Dinar.
🤝 International Engagement: The U.S. Treasury’s involvement in Iraq signifies a commitment to fostering economic stability and collaboration.
🔄 Transition to Digital Economy: Iraq is moving towards a digital age, enhancing its economic transparency and efficiency through electronic payments.
🌠 Gold Reserves Contribution: Iraq’s gold reserves, valued at approximately $14 billion, play a crucial role in bolstering national financial stability.
🎉 Exciting Upcoming Changes: Financial gurus predict a pivotal weekend with potential announcements that could impact Iraq’s economic landscape.

Key Insights

🌍 The Importance of Currency Revaluation: The anticipated revaluation of the Iraqi Dinar is a focal point for investors. Financial experts believe that dropping the three zeros from the currency’s exchange rate could significantly enhance purchasing power. This move, often termed as a “redenomination,” is expected to stabilize the currency and improve overall economic confidence in Iraq.
📊 Evolving Financial Landscape: The shift towards electronic payments, as discussed by various gurus, signals a transformative phase in Iraq’s economic infrastructure. The Finance Committee’s promotion of electronic payment systems aims to reduce costs associated with paper currency and enhance transparency, which is essential for attracting foreign investment.
🇺🇸 Strengthening U.S.-Iraq Relations: The recent visit of the U.S. Treasury Secretary to Iraq is viewed as a critical step in solidifying ties between the two nations. This visit is expected to lead to initiatives aimed at supporting economic growth and stability in Iraq, reflecting a broader strategy to enhance U.S. interests in the region.
🏦 Gold Reserves as a Stability Measure: Iraq’s substantial gold reserves are highlighted as a foundational element of its financial strategy. With reserves reaching about 152 tons, equating to approximately $14 billion, these assets provide a safety net against economic fluctuations and enhance confidence in the national currency.
📅 Speculation on Upcoming Economic Announcements: Analysts are keenly watching for announcements from Iraqi officials that could signal imminent changes in the economic landscape. The expectation of significant news, potentially linked to the U.S. administration, has generated excitement among investors, suggesting that a tipping point may be approaching.
🌐 Community Engagement and Investor Education: The channel emphasizes the importance of community interaction, encouraging viewers to participate in discussions and share their thoughts on the potential for currency revaluation. This engagement not only fosters a sense of community but also enhances investor knowledge and awareness.
🔍 Critical Time for Economic Reforms: The overall sentiment among analysts suggests that Iraq is at a pivotal moment in its economic journey. With the convergence of strong cash reserves, international support, and a shift towards modern financial practices, Iraq appears poised for a significant economic transformation that could positively impact the Dinar and its global standing.

DINAR REVALUATION