FIREFLY: Everybody waits for the new exchange rate! WE ARE CLOSE!! ‪@DINARREVALUATION‬ #iraqidinar

 

The Iraqi government approves the Popular Mobilization Bill and refers it to Parliament, 26 FEB

The Iraqi government approves the Popular Mobilization Bill and refers it to Parliament

Shafaq News / The Council of Ministers voted on Tuesday on the new draft of the Popular Mobilization Commission law, while referring it to the House of Representatives for a vote.

A brief statement from the Prime Minister’s Media Office, which was received by Shafaq News Agency, said that “the Council of Ministers approved during today’s session, the new draft of the Popular Mobilization Commission law, and referred it to the House of Representatives for a vote on it.”

 The Presidency of the Iraqi House of Representatives decided, in the middle of this month, to withdraw the agenda of the session, which included voting on the Popular Mobilization Law, following political differences over its passage, while the regular session was postponed at the time.

Earlier, the deputy of the Sadiqoun parliamentary bloc, Rafik Al-Salhi, revealed to Shafaq News Agency, the agreement of the political blocs to resolve the service and retirement law for the popular mobilization in the next sessions of parliament.

An informed source reported last week that the forces of the coordination framework agreed to pass the service and retirement law to the popular crowd, provided that an amendment to one of its controversial paragraphs is added

https://www.shafaq.com/ar/سیاسة/الحكومة-العراقية-توافق-على-مشروع-قانون-الحشد-الشعبي-وتحيله-للبرلمان

 

IRAQ STATUS UPDATE, 26 FEB

IRAQ STATUS UPDATE

Highlights

• 🌍 Economic Resilience: Iraq holds over $100 billion in reserves and seeks to maintain access to its oil revenues amidst U.S. sanctions.
• ⛽ Oil Export Resumption: An agreement has been reached to resume oil exports from the Kurdistan region, signaling a potential economic revival.
• 🔄 Currency Dynamics: Discussions on the Iraqi dinar’s value highlight the need for a real effective exchange rate and compliance with international monetary standards.
• 🛢️ Oil Infrastructure Revival: The Kurdistan oil export pipeline is set to be operational again, marking a significant milestone for the region’s economy.
• 📈 Diversification Efforts: Iraq is actively working on diversifying its economic map beyond oil, including developing precious metal resources.
• 📜  Geopolitical Context: The U.S. maximum pressure policy on Iran presents challenges for Iraq, which must navigate its relations to sustain its economy.
• 💡 Future Outlook: Analysts predict that a significant change in Iraq’s financial landscape may occur, potentially impacting the dinar’s valuation.

Key Insights

• 📊 Economic Dependence on Oil: Iraq’s economy heavily relies on oil revenues, and any disruption caused by geopolitical tensions, particularly U.S. sanctions against Iran, directly affects its financial stability. The $100 billion in reserves acts as a cushion, but long-term sustainability will require diversifying income sources. This dependence highlights the vulnerability of Iraq’s economy to external pressures.

• 🇮🇷 Impact of U.S. Sanctions on Iran: The renewed U.S. maximum pressure policy against Iran poses a dual challenge for Iraq. On one hand, it restricts Iran’s economic activities, which could lead to increased instability in the region. On the other hand, Iraq must navigate its relationship with Iran, given that Iran serves as an economic partner and a conduit for hard currency. This complex relationship necessitates careful diplomatic maneuvering.

• 🛢️ Resumption of Oil Exports: The confirmation of resumed oil exports from the Kurdistan region is a critical development. It not only signifies a return to normalcy after disruptions but also indicates the importance of Turkey’s approval in this process. The successful resumption could lead to increased revenue for Iraq, bolstering its economic position.

• 💱 Future of the Iraqi Dinar: The discussions surrounding the Iraqi dinar suggest a potential shift in its valuation, dependent on establishing a real effective exchange rate. Analysts argue that without an exchange rate, circulating bonds will face skepticism. This uncertainty must be resolved for the dinar to regain value, which is crucial for restoring public confidence in the currency.

• 🌱 Diversification Beyond Oil: The move towards developing Iraq’s non-oil sectors is a promising sign of economic modernization. With abundant resources in gold, silver, and phosphate, Iraq has the potential to tap into a broader economic base. This diversification is essential for reducing reliance on oil, which has historically made the economy susceptible to global price fluctuations.

• 🔧 Infrastructure Development: The revival of the Kurdistan oil export pipeline indicates a significant commitment to improving Iraq’s oil infrastructure. This is not merely about immediate oil sales but signifies a longer-term strategy to enhance operational capacity and reliability in exports. A robust infrastructure is vital for future investments and economic growth.

• 🌍 Geopolitical and Economic Intersection: The intersection of geopolitics and economic strategy in Iraq is becoming increasingly pronounced. With U.S. policies affecting regional dynamics, Iraq must carve out a path that balances external pressures with its national interests. This balancing act will be crucial for Iraq’s economic stability and growth in the coming years.

Strong Economy, Strong Dinar: Insights from Economist Al-Badrani

After a “diffict struggle”.. 2025 budget tables find their way finally to the Council of Ministers, 26 FEB

 After a “diffict struggle”.. 2025 budget tables find their way finally to the Council of Ministers

Shafaq News / An official source in the Iraqi Ministry of Finance said on Monday that the delay in sending federal budget tables to the Council of Ministers is related to the amendments of Article 12 of the Budget Law.

The Iraqi parliament recently approved an amendment to the general budget related to Article 12, which settles a dispute between the Kurdistan Region and the federal government over the receipt of the region’s oil.

In general, the Iraqi parliament voted in June 2023 on the draft general budget law for the fiscal years (2023, 2024, 2025), provided that it approves budget schedules for those years, which will be sent by the Iraqi government to the parliament for a vote.

The government source told Shafaq News Agency that “the Ministry of Finance has been working for a while on preparing the general budget tables for 2025, in order to send them to the Council of Ministers for approval.”

He pointed out that “the Ministry of Finance will finish preparing the tables and sending them to the Council of Ministers for voting on them in the middle of next month,” noting that “the Council of Ministers will vote on the tables without delay and then send them to the House of Representatives to vote on them.”

The Federal Ministry of Oil announced on Sunday the completion of the necessary procedures to meet the export of oil produced in the Kurdistan Region through the Turkish port of Ceyhan, stressing that this step comes in accordance with the mechanisms specified in the budget law and its amendment, and within the production ceiling set for Iraq in OPEC.

The Kurdish Regional Government’s negotiating delegation responded to the announcement of the Ministry of Oil by calling on the federal government to implement its obligations before proceeding with the oil export process.

The delegation explained that despite the regional government’s confirmation of its commitment to implement the First Amendment Law of the Federal Budget Law, regarding the re-export of oil produced from the fields of the region to the Turkish port of Ceyhan through the company “Sumo”, the implementation of the law requires agreeing on several basic points, including determining the quantities allocated for local consumption in the region, commensurate with the actual needs, similar to the rest of Iraq, and establishing a clear and specific mechanism to pay the dues of production and transport companies to the regional government, in accordance with the law.

https://www.shafaq.com/ar/سیاسة/بعد-مخاض-عسير-جداول-موازنة-2025-تجد-طريقها-خيرا-لمجلس-الوزرا

TIDBIT FROM MILITIAMAN, 26 FEB

 Militia Man  

They haven't turned that [Kurdistan] oil on at 1310 because there's a whole new ballgame coming to Iraq.  

It's a digital world and Iraq's real effective value of their assets that they have...

They don't have much debt...non-oil revenues, taxation...gas...it's going to be amazing, the development road project, all the industrial cities they're going to build along that path.  The private sector is going to go crazy!

ARIEL : From Patriot Dave: Why The XRP Ruling Is Important FOR OUR RV!!! ‪@DINARREVALUATION‬