Sunday, February 16, 2025

FIREFLY: Mr Sammy feels everything has been corrected! @DINARREVALUATION #iraqidinarinvestor

MINISTER OF FINANCE STRESSES IMPORTANCE OF REGIONAL AND INTERNATIONAL COOPERATION TO ADDRESS GROWING ECONOMIC CHALLENGES , 16 FEB

MINISTER OF FINANCE STRESSES IMPORTANCE OF REGIONAL AND INTERNATIONAL COOPERATION TO ADDRESS GROWING ECONOMIC CHALLENGES

Finance Minister Taif Sami stressed, on Tuesday (February 11, 2025), the importance of regional and international cooperation to confront the growing economic challenges.

The Ministry of Finance stated in a statement received by “Baghdad Today” that “the activities of the Ninth Public Finance Forum in Arab Countries, organized by the UAE Ministry of Finance in cooperation with the Arab Monetary Fund and the International Monetary Fund, kicked off on Monday in Jumeirah City in Dubai, as part of the preliminary day for the World Government Summit 2025, with the participation of Arab finance ministers, economic experts and officials from international and regional financial institutions.”

According to the statement, Sami stressed “the importance of adopting flexible financial policies to confront the growing economic challenges,” noting that “achieving a balance between the requirements of development, financial sustainability, and climate action has become an urgent necessity in light of the uncertainty witnessed by the global economy. ”

She touched on the “importance of structural reforms in enhancing financial stability and achieving sustainability of public spending,” stressing the “need to develop financial policy tools to improve spending efficiency and enhance financial transparency.”

She stressed “the importance of regional and international cooperation to support the efforts of Arab countries to confront economic challenges and achieve sustainable development.”

The forum, which is held under the title (Public Finance Resilience in an Uncertain World), will explore ways to achieve this balance through four sessions that discuss the most prominent economic challenges, including the effects of the macroeconomy on public finances, debt pressures, financial policies to adapt to climate change, and developing tax systems to keep pace with economic transformations.

Participants in the forum will discuss mechanisms for financing sustainable development, the role of regional and international financial institutions in supporting Arab countries to achieve their economic goals, in addition to discussing the opportunities and challenges associated with adopting modern financial technologies to enhance digital transformation in the financial sector.

The forum concludes with a ministerial roundtable that brings together Arab finance ministers and officials from the International Monetary Fund and the Arab Monetary Fund, to discuss mechanisms for regional financial cooperation and priorities for the next phase in economic and financial policies.

IRAQ SITUATION HIGHLIGHTS, 16 FEB

IRAQ SITUATION HIGHLIGHTS

Highlights

💵 Central Bank Intervention: The Central Bank of Iraq has injected $500 million into the market to stabilize the economy.
🔼 Increased Banking Fees: The Central Bank is raising fees on services such as MasterCard withdrawals, causing dissatisfaction among the public and businesses.
🇨🇿 International Deals: Iraq is preparing to assist the Czech Republic with crude oil needs and is seeking defense systems in return.
🇮🇷 Geopolitical Tensions: The U.S. is attempting to mitigate the influence of Iran over Iraq, which could have negative implications for the Iraqi economy.
💸 Tax Credit for Workers: A reminder of the sick and family leave tax credit available for gig workers, with claims up to $32,000.
📈 Skepticism Towards Speculation: The host cautions against the common belief in quick wealth through speculative investments in the Iraqi dinar.

Key Insights

💰 Central Bank’s Economic Strategy: The Central Bank’s decision to pump funds into the Iraqi market signals a proactive approach to stabilize the economy amid fluctuating currency values. However, this intervention raises questions about long-term sustainability and dependency on foreign currency. The raised fees could deter individuals from participating in the banking system, contradicting the goal of increasing financial inclusivity.
📊 Public Reaction to Banking Fees: The increase in fees for banking services, particularly those associated with card withdrawals, has led to public discontent. This change may discourage the use of banking services and push individuals towards informal financial channels, which can further complicate the Central Bank’s efforts to regulate the economy.
🌍 Iraq’s International Relations: Iraq’s agreement to support the Czech Republic’s crude oil needs is a noteworthy development in its foreign relations. However, this deal also reflects Iraq’s ongoing struggle to balance its relationships with various countries, particularly in light of U.S. sanctions against Iran and the broader geopolitical context of the Middle East.
⚔️ Impact of U.S. Sanctions on Iraq: The U.S. government’s actions to limit Iraq’s dealings with Iran could have significant repercussions for Iraq’s economy. As the two nations have historically maintained a complex relationship, any changes in policy could lead to economic instability, particularly if Iraq finds it difficult to secure energy supplies.
📉 Historical Context of the Dinar: The video raises important considerations regarding the Iraqi dinar’s historical value and the potential for revaluation. The host points out that if the dinar were to regain its past value, entities like Iran, which holds significant dinar reserves, would be major players in this economic shift, complicating Iraq’s financial landscape.
💼 Awareness of Financial Opportunities: The promotion of the sick and family leave tax credit for gig workers highlights the importance of financial literacy and awareness of government programs that can provide significant relief. Many individuals remain unaware of their eligibility for such credits, indicating a gap in financial education that needs to be addressed.

Walkingstick :they're redoing all contracts in Iraq because there will be a rate change soon!! #iqd

MINISTER OF ELECTRICITY DISCUSSES WITH US CHARGÉ D’AFFAIRES THE DEVELOPMENT OF THE ENERGY SYSTEM IN IRAQ WITH COMMENTS OF MNT GOAT, 16 FEB

MINISTER OF ELECTRICITY DISCUSSES WITH US CHARGÉ D’AFFAIRES THE DEVELOPMENT OF THE ENERGY SYSTEM IN IRAQ

Today, Wednesday, the Minister of Electricity, Ziad Ali Fadhil, discussed with the Chargé d’Affairs of the US Embassy the development of the electricity system in Iraq.

The media office of the Minister of Electricity said in a statement received by “Al-Eqtisad News”, “The Minister of Electricity, Ziad Ali Fadhil, received in his office the Chargé d’Affairs of the US Ambassador to Iraq, Daniel Rubinstein, and a number of joint files in the electric power sector were discussed,” noting that “the Minister reviewed during the meeting the ministry’s strategic plans to develop the electricity system, improve the energy situation in Iraq, and the vital projects that the ministry intends to implement during the next stage.”

He added, “During the meeting, the two sides discussed the investment opportunities available in the Iraqi energy sector, the participation of American companies in electricity infrastructure development projects, and the transfer of modern technologies in the field of production, transmission and distribution of electrical energy.”

(Oh… is Iraq finally going to get serious about getting the entire grid back up and running. Its only been 20 years since the war ended…lol..lol.. Is the Trump pressure working?)

TIDBIT FROM BRUCE, 16 FEB

Bruce

[via WiserNow]

Let's...see where we stand... we've heard from different sources about four or five different sources that came in with very similar information and the overall consensus is that...

it's ready to be started or ready for us to receive notifications...

the next piece of intel that we received from a US, Space Force contact that said that we would be exchanging...according to this source, no later than Saturday...the 15th of the month.

DINAR REVALUATION

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