Friday, March 14, 2025
Kurdistan Region confirms sale of oil via Sumo: Our money will be given to Baghdad, 14 MARCH
Kurdistan Region confirms sale of oil via Sumo: Our money will be given to Baghdad
Economy News – Baghdad
The Kurdistan government confirmed on Wednesday the region’s firm position to implement the amendment of the budget law so that the region’s oil is exported and sold through Sumo and its proceeds are returned to the Federal Ministry of Finance.
A statement from the Presidency of the Council of Ministers of the Kurdistan Region, seen by “Economy News”, said that “the President of the Council, Masroor Barzani, held a meeting in the presence of his deputy Qubad Talabani, where the Prime Minister instructed the Ministry of Finance and Economy to prepare a salary distribution schedule for the employees of the Kurdistan Region for February, after depositing 958 billion dinars in the ministry’s account for this month.
The Council decided to start distributing salaries from tomorrow. All ministries and institutions have also been tasked with preparing salary lists for March urgently, to send them to the Federal Ministry of Finance, with the aim of disbursing them before the blessed Eid al-Fitr holiday.
The statement stressed that “in the first paragraph of the meeting, Kamal Mohammed Saleh, Acting Minister of Natural Resources, reviewed the latest developments in the joint meetings between the Ministry of Natural Resources and the Federal Ministry of Oil in the presence of representatives of oil companies.”
The minister explained, “The efforts made to resume the export of the region’s oil within the framework of the Federal Budget Law, and the Council of Ministers praised the efforts of the Ministry of Natural Resources to accelerate the process of resuming oil exports and working jointly with the Iraqi Ministry of Oil to resolve obstacles related to the process.”
The Council also stressed “the firm position of the regional government to implement the amendment of the budget law so that the region’s oil is exported and sold through Sumo and its proceeds are returned to the Federal Ministry of Finance.”
BEARDED PATRIOTUSA : ☀️RV TIME HAS TO BE NOW ☀️, 14 MARCH
BEARDED PATRIOTUSA
☀️RV TIME HAS TO BE NOW ☀️
The Final PUSH is brewing. We can all feel it!
✅Equity Markets DOWN (close to 10%)
✅USD DOWN (close to 6%)
✅Crude Oil DOWN (17%)
✅Tariff battle going on (DISTRACTION)
✅Possible ceasefire to be signed soon (PEACE)
✅A lot of attention on XRP and crypto regulations (NEW SYSTEM)
Meanwhile Iraq has
🟨Confirmed its Article 12 ammendement (HCL)
🟨Confirmed paying delayed salaries (Money flow)
🟨Negotiating restarting oil flow (More money flow)
🟨Removing Iran from the equation (Required)
🟨Implementing electronic cards (for HCL)
🟨Updating ration cards (for HCL)
🟨Census updated (for HCL)
There is a trigger upcoming that will be the final PUSH for the RV to happen. What is the trigger? We don't know. Will it be Gold to RV? Will it be peace treaty?
It will come out of the blue and the FOREX family will have a different flow of money that we've not seen before. We will have exotic currencies and certain cryptos becoming MAJOR PLAYERS in the market
No looking back! LFG NOW!
IRAQ NEWS : The US Treasury has imposed sanctions on Iran’s Petroleum Minister, 14 MARCH
IRAQ NEWS
The US Treasury has imposed sanctions on Iran’s Petroleum Minister, Mohsen Paknejad, accusing him of overseeing billions in oil exports, including funds directed to Iran’s armed forces.
The move, part of ongoing efforts to curb Iran’s oil trade and shadow fleet under Executive Order 13902, marks the third round of sanctions since President Trump’s February 4 directive to reinstate maximum pressure on Tehran - statement
: IRNA
: IRNA
IRAQ STATUS UPDATE : The introduction of a new exchange rate and lower denominations in Iraq’s currency
IRAQ STATUS UPDATE : The introduction of a new exchange rate and lower denominations in Iraq’s currency
Highlights
🔑 The Real Effective Exchange Rate (REER) is a measure that shows the value of a country’s currency against a basket of other currencies, adjusted for inflation.
🔑 Changes in the REER can significantly impact businesses and consumers, as it affects the cost of imports and the purchasing power of the currency.
🔑 Iraq has introduced a new exchange rate for its currency, the Iraqi dinar, to stabilize the economy and make the currency more valuable and reliable.
🔑 The new lower denominations of the Iraqi dinar are designed to simplify transactions and make the currency more accessible for everyday use.
🔑 The success of Iraq’s monetary reforms depends on factors such as fiscal discipline, international community support, and building trust in the currency.
🔑 A stable currency can lead to more predictable prices, better planning, and greater economic opportunities for both individuals and businesses.
🔑 While challenges exist, the reforms in Iraq have the potential to pave the way for a brighter economic future.
Key Insights
🤔 The REER is a crucial economic indicator that reflects the overall health of a country’s economy. Businesses and consumers must closely monitor changes in the REER to understand the impact on their financial decisions.
💡 The introduction of a new exchange rate and lower denominations in Iraq’s currency is a significant step towards creating a more stable and accessible financial system. This reform could help boost consumer confidence and attract foreign investment.
🧭 Maintaining fiscal discipline and securing international support are essential for the long-term success of Iraq’s monetary reforms. The government must demonstrate a consistent commitment to these policies to build trust in the currency.
📈 A stable currency can have far-reaching positive effects on a country’s economy, including more predictable prices, better planning for individuals and businesses, and increased economic opportunities. This can lead to an improved quality of life for citizens.
�barriers While challenges such as political instability and external market pressures may arise, the groundwork laid by Iraq’s monetary reforms suggests a promising path towards a more stable and prosperous economic future.
🔍 Closely monitoring the implementation and impact of Iraq’s currency reforms can provide valuable insights into the broader dynamics of exchange rate policies and their effects on both individual and national economic well-being.
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