IRAQI ECONOMY STATUS UPDATE, 16 FEB

 IRAQI ECONOMY STATUS UPDATE

Highlights

• 📈 Iraq’s Economic Reforms: The Iraqi government is advancing financial reforms to restore the Dinar’s value.
• 🔍 Transparency Improvements: Iraq improved its ranking in Transparency International’s corruption perceptions report, indicating progress in governance.
• 💰 Rising Gold Reserves: Iraq has climbed the global ranks in gold reserves, now 28th among 100 nations.
• 💸 Dramatic Currency Fluctuations: The IQD recently saw a spike, with 1 million IQD suddenly valued at $14,000, indicating potential economic turnaround.
• 📊 Investment Opportunities: The recent fluctuations suggest a growing interest among investors in the IQD, potentially leading to economic growth.
• 🔄 Currency Simplification: The concept of deleting zeros from the currency is discussed as a means to stabilize the economy and improve purchasing power.

Key Insights

• 📉 Economic Reform Impact: The Iraqi government’s commitment to financial reforms is crucial for restoring confidence in the Dinar. This effort is seen in the approval of controversial laws that are now expected to facilitate economic growth. The focus on lifting purchasing power reflects a strategy to increase consumer spending and investment.

• 💼 Investment Climate Shifts: The sudden spike in the IQD’s value has created a buzz in the investment community. If this upward trend continues, it may attract foreign investments, which could lead to job creation and infrastructure development. The potential for the IQD to appreciate dramatically offers a unique opportunity for early investors.

• 🏆 Transparency as a Growth Factor: Iraq’s improved ranking in the corruption perceptions report is significant. Transparency in governance can lead to better financial practices, reducing corruption, and fostering an environment conducive to investment. This progress is essential for long-term economic stability.

• ⚖️ Gold Reserves Significance: Iraq’s increased position in global gold reserves reflects a strengthening of its economic fundamentals. Gold is often viewed as a safe-haven asset, and an increase in reserves can bolster investor confidence in the Dinar and the overall economy.

• 📉 Fluctuations in Currency Value: The fluctuations in the IQD’s value, particularly the dramatic increase, indicate a potential shift in the financial landscape of Iraq. These changes can serve as precursors to more stable and predictable currency movements, which can encourage both local and international investment.

• 💵 Purchasing Power Restoration: The transition to a more stable currency system by deleting zeros can significantly enhance purchasing power for everyday Iraqis. By simplifying the currency, the government aims to reintegrate cash into the banking system, which can stimulate economic activity and consumer spending.

MZ: I think it’s the calm before the storm! @DINARREVALUATION #iraqidinarinvestor #iraqidinar

 

Green Oil ... A Basic Pillar For Achieving Food Security, 16 FEB

 Green Oil ... A Basic Pillar For Achieving Food Security

 
Economic 2025/02/13   Baghdad: Imad of the emirate  It is dependent on the achievement of food security by
 
     improving the performance of the agricultural sector and the
     stimulation of industries, especially those that depend on agricultural and animal products, such as the
     manufacture of tomato paste, jams and dairy, and the production of meat, lumbar and woolen textiles, and leather industry, in a way that achieves the principle of integration between the sectors (industry and agriculture) as the most important sectors in increasing national income And his permanence.

In order to reach this goal, the  government encourages the private sector to  establish agricultural / industrial complexes or what is called "green oil".  

The former Undersecretary of the Ministry of Agriculture, Dr. Mahdi Al -Qaisi, said:
 
Food manufacturing includes a group of industries that all depend on plant and animal agricultural products and marine and fish products, usually
 
food manufacturing is that it is one of the most prominent pillars of food security.
 
Al -Qaisi added, in an interview with "Al-Sabah", that the
 
increase in plant agricultural production and livestock in quantity and quality contribute to the advancement of food manufacturing outputs by
 
providing the initial material necessary for this industry and
upgrading various preservation and manufacturing operations such as canning, drying, freezing, fermentation, etc., indicating that the
 
food industry aims to obtain On a product that meets the consumer's desires and ensures its health and nutritional quality.
 
Absorbing the Surplus
 
Regarding the goals of preserving and manufacturing food, Al -Qaisi explained that it is the
 
conservation as much as possible for its natural characteristics
     away from pollution and
     changes that occur in their quality during storage and circulation, and to
     absorb the surplus of crops and agricultural products and
     manufacture them to find a balance between supply and demand and price stability, which
 
encourages farmers to produce more and at a continuous pace. He pointed out that
 
Food Manufacturing
 
     maintains agricultural  crops from damage and
     prolonging their treasury life, and
     contributes to absorbing unemployment and
     creating many and varied areas of work.

Al -Qaisi pointed out that lunch
 
manufacturing is the optimal investment of agricultural raw materials and obtaining secondary products from manufacturing operations that constitute an added economic value, noting that
 
this reflects the change of the consumer food pattern, which reflects on
     reducing waste and losing food and
     achieving economic feasibility
 
to face accelerated population increases and the increasing rise in food prices Globally.
 
Manufacturing Activities
 
And on the process of upgrading food industries in Iraq, between the agricultural expert: that the food industries sector in Iraq is exposed to a relatively long long period of time to stop in a number of factories and manufacturing activities for several reasons, the most prominent of which is commodity dumping, so it requires serious consideration in the issue of supporting and upgrading national food industries
 
To take its true position in food and economic security.
 
Industrial Crops
 
For his part, economic affairs specialist, Dr. Ahmed Al -Rawi, stated that
 
Iraq is one of the agricultural countries that are characterized by the production of crops that can be manufactured such as dates, diabetic beets, sesame and vegetables, again the
 
call for a number of industries that depend on these crops, which encourages farmers to demand the cultivation of industrial crops It helps its development. Al-Rawi told Al -Sabah:
 
The entry of agricultural products in manufacturing leads to the withdrawal of the surplus of agricultural crops at the time of the peak of its productive season, which maintains their prices from landing, usually  food security for any country as part of its national security, and that
 
one of the procedures for supporting food security is is The establishment of advanced food industries helps to provide the individual-made foods, especially in times of environmental disasters, wars and crises.  https://alsabaah.iq/110110-.html 

TIDBIT FROM MNT GOAT, 16 FEB

 Mnt Goat  

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.

CRYPTO TRADER: Iraq implemented the system ASYCUDA and last week joined the TIR system #iraqidinar

 

Prime Minister: The Government Has Taken A Series Of Measures To Facilitate Companies’ Work In The Field Of Digital Transformation, 16 FEB

 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

CHELLA IRAQ NEWS CC HIGHLIGHTS NOTES, 16 FEB

 CHELLA IRAQ NEWS CC HIGHLIGHTS NOTES

Highlights

Summary

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.
• 📈  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.