Article: "AMERICA STOPS THE DOLLAR CASH TO IRAQ: WILL THE DOLLAR RISE AGAINST THE DINAR?"
Remember this is the use of CASH dollar. They will still have electronic transfer from the Feds of dollars to Iraq.
But this is a move that I believe is in agreement with the CBI to finally shut down the parallel market for good.
This comes on the heals of the issue with Rafidian bank’s continue smuggling of the cash dollars to Iran. This is an amazing article.
A “WOW!” article...The US is finally doing it. They should have cut off the dollars off years ago. We would be much farther ahead now in the RV process.
But now it is being done. A good sign for us investors.How will this impact the Iraqi economy?Seems to me the US wants the dinar to rise in value and this may be leading us to something VERY IMPORTANT.
Prime Minister: The Government Has Taken A Series Of Measures To Facilitate Companies’ Work In The Field Of Digital Transformation
Money and business Economy News – Baghdad Prime Minister Mohammed Shia Al-Sudani confirmed today, Friday, that the government has taken a series of measures to facilitate the work of companies in the field of digital transformation.
The Prime Minister's Media Office said in a statement received by "Al-Eqtisad News", "Prime Minister Mohammed Shia Al-Sudani received the CEO of the German company (Veridos), Mark Seifert, on the sidelines of his participation in the 61st Munich Security Conference."
The statement added that "the meeting discussed developing cooperation with the global company specialized in printing passports and national cards, through its factory in the capital, Baghdad, which is one of the most prominent links in the economic relationship between Iraq and Germany."
Al-Sudani welcomed - according to the statement - the tasks carried out by the company and reviewed its programs, especially those related to digital transformation in developing government services for citizens, indicating that "the government has taken a series of measures within its program to facilitate the work of companies to achieve tangible progress in this field." https://economy-news.net/content.php?id=52795
In a special Valentine’s Day live stream, Charles Smith delivers a comprehensive update on the current economic and political developments in Iraq. He emphasizes the importance of love and community while navigating through various crucial headlines.
The discussion touches on the meeting between Prime Minister Muhammad Shia Sudani and NATO officials regarding military cooperation, the challenges posed by financial losses in the Kurdistan region, and Iraq’s ongoing efforts to combat corruption.
Smith elaborates on significant legislative actions, budgetary amendments, and Iraq’s evolving economic relations with the U.S. and other nations.
He highlights the implications of new laws and agreements aimed at improving financial stability, addressing salary disputes, and enhancing Iraq’s oil sector. The stream encapsulates Iraq’s journey toward recovery and reform, underlining the nation’s commitment to transparency and economic growth.
🎉 Valentine’s Day Live Stream: Charles Smith hosts a unique live session to share love and updates on Iraq’s developments.
🤝 NATO Cooperation: Prime Minister Sudani’s meeting with NATO officials emphasizes strengthening security and combating terrorism in Iraq.
💰 Economic Challenges: Iraq faces significant financial losses due to halted oil exports from the Kurdistan region, with estimates exceeding $15 billion.
🔍 Corruption Audits: Iraq commits to internal audits to enhance transparency and public trust, crucial for economic reforms.
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Unified Pension Law: An agreement to implement a unified pension law in Iraq and the Kurdistan region marks a step toward financial stability.
💵 Dollar Dilemma: The Iraqi economy grapples with the acceptance of older U.S. dollar bills, reflecting evolving market preferences.
🌍 International Recognition: Iraq achieves a milestone by receiving certification from the International Maritime Organization, enhancing its global standing.
Key Insights
🌟 Valentine’s Day as a Symbol of Community: The live stream begins with a heartfelt message of love, emphasizing the importance of community and support during challenging times. This approach fosters a sense of togetherness among viewers, making the news feel more personal and relevant.
🔗 Strengthening Bilateral Ties with NATO: The meeting between Prime Minister Sudani and NATO’s Joint Force Commander signifies Iraq’s strategic move to enhance its security capabilities through international cooperation. This partnership is crucial for Iraq, as it navigates challenges related to terrorism and internal security.
📊 Impact of Oil Exports on Economy: The financial losses due to the suspension of oil exports from the Kurdistan region highlight Iraq’s vulnerability to geopolitical tensions. The significant shortfall in state revenue underscores the need for a more diversified economy that does not rely heavily on oil.
🛡️ Commitment to Combat Corruption: The government’s focus on internal audits reflects a serious commitment to tackling corruption, which has long plagued Iraq. By prioritizing transparency, the government aims
to restore public trust and attract foreign investments, which are vital for economic recovery.
🏦 Pension Law Agreement: The finalization of the unified pension law represents a crucial step towards ensuring financial security for retirees and strengthening cooperation between the federal government and the Kurdistan region. This agreement could serve as a foundation for resolving other ongoing economic disputes.
💵 Shifting Currency Preferences: The reluctance to accept older U.S. dollar bills indicates a shift in Iraq’s economic landscape, as businesses begin to prioritize security and quality in currency. This development could have broader implications for monetary policy and international trade relations.
🛳️ Maritime Milestone for Iraq: The certification from the International Maritime Organization marks a significant achievement for Iraq’s Ministry of Transport, indicating progress in meeting international standards. This recognition is essential for improving Iraq’s port operations and enhancing its competitiveness on the global stage.
Conclusion
The live stream encapsulates the complexities of Iraq’s current political and economic climate, marked by efforts to combat corruption, enhance international cooperation, and promote financial stability. Charles Smith’s engaging presentation provides viewers with a digestible overview of significant developments while fostering a sense of community and shared hope for a prosperous future. The insights gained from this discussion highlight the importance of strategic reforms and international partnerships in paving the way for a resilient Iraq. Overall, the stream serves as an informative and uplifting reminder of the progress made and the challenges that lie ahead, as Iraq continues to navigate its path toward recovery and development.
15 YEARS OF FALSE PROMISES… “OUR MONEY WAS LOST BETWEEN THE CENTRAL BANK AND WARKA BANK”
Dozens of citizens demonstrated today, Tuesday, in front of the Central Bank in the center of Baghdad To claim their money deposited in Warka Bank for 15 years.
The correspondent said Sumerian News: “Dozens of citizens demonstrated this morning in front of the Central Bank gate. Iraqi in street Al-Rasheed in central Baghdad, to demand the bank’s intervention to put an end to their ongoing suffering,
as Al-Warka Bank,
;despite promises, refuses to pay depositors’ money, the value of which has fallen by more than half in more than 15 years.
The reporter added, “The demonstrators appealed to all…Governments The previous and current and parliament to no avail, after their failure to appeal to the Central Bank and make false promises to pay their money,” noting that they “described what is happening as a stain on the brow of the banking system. “Iraqi In general and the Central Bank in particular.
He said, “The demonstrators confirmed that their last resort is to appeal to the religious authority to intervene to put an end to their suffering.”
It is noteworthy that the Central Bank Iraqi He took previous measures against Al-Warka Bank, but to no avail, after his failure to provide solutions to the depositors.
(Can you see now why the citizens hesitate to trust in the banks in Iraq? Can you blame them? Oh… and that deposits are now down because of this protesting over Warka bank.)
Question From Jack Bowra: Why does America sell dollars to Iraq if they are so worried about them then funnelling through to Iran?
Answer Mnt Goat: Guten Tag Jack.I hope you are having a nice winter and staying warm. Okay, so let’s answer your question. Have you been reading my Newsletters? If you were, you should know the US is not “selling” dollars to Iraq. The dollars are in a DFI fund. When oil is sold from Iraq the buyer MUST pay in US dollars. They call these “petro- dollars”.
These payments go directly into the DFI fund which was set up to protect Iraq from creditors left over from the Saddam Hessian regime. They did this to protect Iraq. When Iraq needs money to pay for imports, they submit their budget to the Federal Reserve, and they would send plane loads of paper cash $100 bills to Iraq to meet their budget. Remember this is Iraq’s money.
The problem is that this system opened Iraq wide open for corruption and the US Federal Reserve that set up this system knew it and used it to scam the oil revenues from Iraq. Folks they are not that dumb that they couldn’t project this would happen.
This became their little slush fund. A little for their pockets, a lot for Iran and nobody would know the difference, they thought. They figured everyone would just think it was all Iranian corruption and smuggling and no one would catch on to their scheme. But the Trump administration is catching on and this all going to come out in the news soon.
Watch for it! So, how do you now stop the corruption is the real question. How do you stop 20 years of corruption? Some people at the highest levels are getting paid off in the US to let all this money go to Iran. This is the real problem. I have been telling everyone this for a long time. The U.S. is the real problem. The relationship of the U.S. with Iraq in this matter had to change and so it is now finally changing. Buy, buy U.S. Dollar, hello Iraqi Dinar.
We find out today that Russian companies were about to complete important projects in Iraq that began before 2003, especially in the energy sector, but the painful security events that occurred in 2004 led to the suspension of these projects back then. What ever happened to Germany’s Seimans and the U.S. GE in Iraq?
I thought billions were allocated in the last couple budgets to complete the electric grid and these contracts were awarded to them? Will Russia instead now move in and finally complete the grid project?