Sunday, February 16, 2025

MNT GOAT : We have a VER Y good chance of moving to the Project to Delete the Zeros" #iqd

LAUNCHING THE IMPLEMENTATION OF THE {FURSAN} RESIDENTIAL CITY.. AND AL-SUDANI: IRAQ IS FACING A NEW INDUSTRIAL RENAISSANCE WITH COMMENTS OF MNT GOAT, 16 FEB

LAUNCHING THE IMPLEMENTATION OF THE {FURSAN} RESIDENTIAL CITY.. AND AL-SUDANI: IRAQ IS FACING A NEW INDUSTRIAL RENAISSANCE

Prime Minister Mohammed Shia Al-Sudani launched, today, Wednesday, the executive works for the development project of the Al-Fursan residential city in the Al-Nahrawan area in Baghdad, on an area of approximately (24,197) dunums, which includes the allocation of serviced residential lands distributed to members of the Ministry of Defense.

Al-Sudani handed over land ownership deeds to a number of families of martyrs from the armed forces.

Al-Sudani appreciated the efforts of the Ministry of Defense and other ministries supporting the launch of this project, stressing the work to provide serviced residential plots in the rest of the governorates, and directing the generalization of this experience to members of the rest of the other security agencies, indicating that the Knights City project will be implemented by the real estate developer and planned and implemented by the Ministry of Defense, with the support of the Ministry of Construction, Housing, Municipalities and Public Works, with the developer company obligated to implement with full specifications, and construct part of the basic services such as schools, health centers and service departments.

He explained that the project is one of the government’s paths to address the housing crisis, and a model in the governorates to include all members, officers and leaders of the Ministry of Defense, stressing that the government left the issue of distributing residential lands without infrastructure services, or designs that are appropriate for modern cities and various requirements.

Al-Sudani referred to the residential cities that will be implemented for the members of the armed forces, including the Al-Ghazlani City project in Mosul, and another city in Basra, in addition to laying the foundation stone for the 6th of November City in Taji, to cover the needs of housing units for citizens and members of the security services.

The following are the most important points made by the Prime Minister:

– The Ministry of Defense personnel defended the greater homeland, and we must provide them with a small homeland represented by a residential plot of land and decent services. We have a new city, “City of Roses,” at the level of a new governorate. It was referred to the investor, and we completed the contracts and its design, and implementation began.

– More than 110,000 housing units will be completed in “City of Roses”, which is 3 km away from the “City of Knights” residential project.

There is a 17 km road under construction, linking central Baghdad to the new residential cities and reaching the city of roses.

– Within the Baghdad Metro plan, new residential cities have been linked, and we are in the process of negotiating with international companies to implement this vital project.

The government has taken into consideration the advance planning for the next 30 years regarding the provision of services, means of transportation and a road network.

I renew the call to the private sector and businessmen to proceed with the implementation of housing projects and real estate development in Baghdad and the governorates, and the government will provide all facilities.

We call on the private sector to establish construction materials factories in light of the great urban renaissance in the country, as what is available does not cover the actual need. The number of housing units in projects signed by the government has exceeded one million units.

The sovereign guarantees provided to the private sector confirm that Iraq is facing a new industrial renaissance for the emergence of national factories that cover the needs of the market. The government is obligated to provide basic services such as sewage networks, drinking water, electricity, communications, and roads.

(After 20 years the grid is still not fully functional. How is the government providing for electricity then? All talk…. How many times do we have to hear this before they actually do it?)

EXCERPTS FROM MNT GOAT : "Once this move settles down..we have a VER Y good chance of moving to the next stage which will be the Project to Delete the Zeros" , 16 FEB

EXCERPTS FROM MNT GOAT

I was reminded yesterday on my call to my contact int the CBI to remember that the reinstatement plan always calls for monitoring for inflation at each stage of the process.

I was told they are moving in to, yet another stage and they are going to take some time to watch for inflation and see how the market reacts to this move. How long we don’t know but what we do know it can’t be that long of a period as Iraq will need currency for trade.

I was told the dollars are not going away but CASH dollars in physical form are no longer be allowed in Iraq.

Once this move settles down and “if and only if” the money laundering ends (Rafidian Bank), we have a VER Y good chance of moving to the next stage which will be the Project to Delete the Zeros.

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.

DINAR REVALUATION