Iraq and Jordan discuss work stages in joint border economic city
Prime Minister Mohammed Shia Al-Sudani received today, Monday, the Minister of Industry, Trade and Supply in the Hashemite Kingdom of Jordan, Yarub Al-Qudah, who confirmed the Jordanian government's support for Iraq's efforts to host the Arab Summit in Baghdad, scheduled for this year.
During the meeting, according to a statement by the Prime Minister's Office, a copy of which was received by {Euphrates News}, "the bilateral relations between the two countries were discussed, and ways to strengthen them in various economic and commercial fields, in addition to discussing mechanisms for developing industrial and commercial cooperation between Iraq and Jordan, in light of the work of the Iraqi-Jordanian Joint Trade Committee, as well as confirming cooperation between the Jordanian and Iraqi private sectors.
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The meeting touched on the stages of work in the joint border economic city between Iraq and Jordan, which aims to enhance economic integration, stimulate investments and activate partnership, and the returns and benefits it will achieve for the two countries, especially with the continuation of work on the development road project, with its strategic axes and projects. link
In the latest update regarding the Iraqi dinar and the country’s economic developments, significant progress has been reported.
On Monday, the Iraqi Parliament approved an amendment to the budget law, which is expected to adequately support the government’s financial needs for 2025, despite anticipated declines in oil prices.
The Kurdistan region has begun delivering oil to the Federal Ministry of Oil, with plans to export approximately 300,000 barrels daily via the Iraqi-Turkish pipeline. Additionally, an agreement has been reached between the Kurdistan region and Baghdad concerning the payment of salaries for 2025.
The current exchange rate of the Iraqi dinar against the US dollar is 1,153.00 IQD to 100 USD. Furthermore, former President Trump signed an executive order to establish a sovereign wealth fund, which could benefit various sectors, including investments in technology and aid for Americans.
🇮🇶 Iraqi Budget Law Amendment Approved: The Iraqi Parliament has approved an amendment to the budget law, aimed at supporting the country’s financial needs for 2025.
⛽ Kurdistan Oil Deliveries Begin: Kurdistan has started delivering oil to the Federal Ministry of Oil, which will be exported through the Iraqi-Turkish pipeline.
💰 Salary Agreement Reached: An agreement has been finalized between the Kurdistan region and Baghdad regarding the payment of salaries for 2025.
📉 Oil Price Concerns Acknowledged: The government is aware of potential declines in oil prices and is strategizing accordingly.
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Sovereign Wealth Fund Initiative: Former President Trump signs an executive order to create a sovereign wealth fund to aid American citizens and stimulate the economy.
💼 Financial Aid for Self-Employed Workers: Information is provided about the Sick and Family Leave Credit available for self-employed individuals impacted by the pandemic.
📈 Continued Support for Viewers: The video emphasizes the host’s commitment to providing valuable financial information and opportunities for viewers.
Key Insights
📊 Stable Economic Measures: The approval of the budget law amendment is a proactive step by the Iraqi government to ensure financial stability and operational capacity for the coming years, especially in light of potential economic fluctuations due to declining oil prices. This shows a shift towards more sustainable budgeting practices.
🛢️ Strengthening Oil Exports: The delivery of oil from Kurdistan to the Federal Ministry of Oil represents a significant development in Iraq’s oil strategy. This not only promises to increase revenue but also facilitates the ongoing negotiation dynamics between the Kurdish region and the central government in Baghdad. The 300,000 barrels per day figure reflects a robust output that could enhance Iraq’s position in the global oil market.
🏦 Implications of a Sovereign Wealth Fund: The establishment of a sovereign wealth fund, as proposed by Trump, could have far-reaching implications for economic management in Iraq and globally. Such funds are typically used to manage national savings, stabilize the economy during downturns, and invest in infrastructure and development projects. For Iraq, this could mean better financial management of oil revenues and improved public services, provided that the fund is managed transparently and effectively.
💵 Impact of Salary Agreements: The agreement on salary payments between the Kurdistan region and Baghdad is crucial for economic stability in the region. Ensuring that salaries are paid on time can help to maintain public morale and support, which is especially important in a region that has faced economic hardship due to political and economic instability.
📉 Exchange Rate Stability: The current exchange rate of the Iraqi dinar against the US dollar reflects a level of stability amid ongoing discussions about economic reforms and oil revenues. Monitoring fluctuations in this rate will be essential for both local and foreign investors as they assess the viability of economic investments in Iraq.
🧑🤝🧑 Support for Self-Employed Individuals: The Sick and Family Leave Credit provides critical financial support to self-employed individuals who have been impacted by the pandemic. This initiative reflects a broader recognition of the challenges faced by gig economy workers and the importance of providing financial safety nets during crises.
📺 Engagement with Viewers: The host’s effort to keep viewers informed about financial opportunities and government programs illustrates a commitment to community engagement and empowerment. By sharing information about available credits and assistance programs, the host is fostering a sense of trust and reliability within his audience, which is essential for building a loyal viewer base.
To discuss military and strategic files.. A "high-ranking" American official will visit Baghdad soon
An Iraqi government official reported on Monday that a high-ranking American official is about to visit Baghdad soon, and that preparations are underway for the visit, noting that the official will discuss the American presence in Iraq and the structuring of the relationship between the two countries.
The official told Shafaq News Agency, "Special preparations are now underway for a visit by a high-ranking American official to Baghdad in the coming period."
The official pointed out that "the file of the American presence in Iraq will be discussed in parallel with adjusting the rhythms of the region, in line with the recent changes in Syria, Lebanon and Gaza."
He said, "The American official will discuss the mechanism for restructuring the relationship between the United States of America, in addition to understandings in the areas of security and defense, along with files related to the US Federal Reserve."
It is noteworthy that Baghdad and Washington announced months ago an agreement stipulating the withdrawal of the US-led international coalition forces by September 2025.
The Washington Post quoted an Iraqi official as saying that he expected Iraq to request an extension of the stay of US forces, in light of the recent developments in the region following the fall of the Assad regime in Syria.
Since mid-October 2023, armed factions began targeting American bases in Iraq, coinciding with the Gaza War, as the factions announced that their targeting of American forces was in response to American support for Israel.
The previous escalation between the armed factions and America witnessed military responses from Washington, the latest of which was the bombing of the city of Al-Qaim, adjacent to the Syrian border. The US Central Command confirmed at the time that its forces launched air strikes in Iraq and Syria targeting sites of the Quds Force of the Iranian Revolutionary Guard Corps and its affiliated faction groups.
The command said that the US military forces struck more than 85 targets with many aircraft, including long-range bombers, launched from the United States.
The American responses to the targeting of the armed factions also included assassinations of leaders of those factions in the center of the capital, Baghdad, using guided and accurate missiles. link
WOW! It’s our first Newsletter of February 2025 already. Well, it appears no RV as of yet and January is long gone. But it’s not over until the fat lady sings….I was reading more of the recent comments on the blog. I
have to once again reinforce to everyone that the issuance of the visually impaired three zero notes is not an issue.
As an investor, this is not something you should worry about. Please go back and re-read my Newsletter in the Archives for the Newsletter dated January 21, 2025.
The title of the article is “IRAQ ISSUES NEW BANKNOTES WITH INNOVATIVE SECURITY FEATURES FOR THE VISUALLY IMPAIRED.. PHOTOS”. What did I tell you then about these new notes?
Please stop making up stories or speculating as to what they are and why these articles now. Just relax.
At that time weeks ago, I clearly stated what this article is all about. Yes, it is actually a good thing for our investment not a negative impact. Get it? Oh… but many of you don’t get it yet. But this brings me to yet another issue.
Do you trust even what I tell you? Why do you desire to find ways to deny the facts? Are you listening to some of these so-called self-proclaimed intel guru idiots? I really don’t understand all the negativity in this regard.
Why am I here on this blog if only a few want to listen to me? Again, please go back and read this Newsletter in the Archives. I will not repeat myself in these situations anymore. If you are too lazy to read the Newsletter that is not my fault.
Everyone must learn to inform yourself and get educated. Then you have to remember what you know.
Iraq: What will change under the Trump Administration?
The fact that Trump is a businessman before being a politician gives him the advantage to see the great potential for American investment in Iraq. He is not in this for the kickbacks and corruption money, as in the Obama/Biden administrations. Just let the new Trump policies towards Iraq play out. The 2025 budget is not yet even opened and being played out.
Many seem to forget what I told you in the past. I said that the CBI told us that the month of January is the most opportune time to make a major revaluation of the currency.
What does this mean? But most important is why did they tell us this?
They told us this because it is the beginning of their fiscal year. But the CBI did not tell us this is the only time.
Also, we can see that the 2025 budget is not yet opened and the spending began. So, if they needed a new rate the budget is “flexible” and can be adjusted.
Get it? Oh… didn’t they tell us this too in an article, an article that I showed you in the past.
Did you forget? Are you even reading the articles? Why not? Why do I post them if nobody reads them? Folks, I am not making this stuff up but you have to listen to me and stop all this guessing, hype and discourse. It does nothing for you. It is not going to change the situation.
Are you listening to the prophets? There is a
“shifting” going on and things will not be the same in the near future.
Can you feel it too?
Iraq will finally get its independence again;
I can assure you of this. But change is hard and as we know it is even harder when in the last 20 years the citizens have gotten used to the all the corruption as a way of life. Yes, trillions of dollars have been lost already due to the corruption.
This is their words, not mine. But now it is ending in Iraq just as it is being cleaned up in the US too. Everyone needs to remember that if the corruption in the US is not cleaned up all this money will not be yours. The state will try to take if from you or prevent you from living the kind of life you want.
Banking reforms constituted an important pillar of the economic reform adopted in the government program, and in order to complete the important steps initiated by the government in this context since it started its work, and in order to achieve the package of development targets that requires a banking development,
the government, in cooperation with the Central Bank of Iraq, embarked on a comprehensive initiative that includes an integrated strategic banking reforms process, which constitutes a landmark moment in the history of economic development in Iraq, and is commensurate with the extent of commitment to raising the level of banking standards, enhancing financial flexibility, and supporting the competitiveness of the financial system.
These comprehensive reforms aim to keep pace with developments in the countries of the region and the world, contribute to opening partnerships, and the prospects of communicating with the outside world widely in modern banking and financial transactions, as the Central Bank works in an effort to implement and develop regulatory and regulatory frameworks with international partners, contributing to achieving sustainable growth and development of the banking sector, just as the government is working to support the reforms and efforts of the Central Bank of Iraq in developing the state of the banking sector.
These reform efforts have been based on the following main areas:
Strengthening ownership structures and governance frameworks, by promoting transparency and accountability, including through the creation of diverse ownership structures and ensuring independent oversight of boards of directors over processes and committees.
Raising the level and standards of service, by increasing access to basic financial services for all members of the Iraqi people, by enhancing efficiency, increasing the supply of products and modernizing the infrastructure of the banking sector.
Harmonization and compliance with international standards, by enforcing compliance with recognized frameworks and practices in the fields of anti-money laundering and countering the financing of terrorism, as well as commitment to financial transparency in order to ensure the smoothness of banking services and support business and the needs of citizens.
Enhancing financial resilience, by enhancing the financial integrity of Iraqi banks and setting strong capital and cash requirements, to protect customer deposits and protect the economy in the face of domestic and international challenges.
This initiative comes within the framework of a broader strategy aimed at modernizing the banking sector, which the Central Bank of Iraq is currently developing in partnership with Oliver Wyman, a leading international company in the field of management consulting. The ongoing reforms being implemented with government banks enhance the integration of that strategy, representing a turning point in the future of the Iraqi financial system.
Operational details of these reforms will be presented later. From this point of view, the government and the Central Bank confirm the adoption of a joint reformist vision, which is to establish a modern, transparent and comprehensive banking system that supports the aspirations of the dynamic economy of the Iraqi state.