AL-FATH: AMERICAN COMPANIES HAVE FAILED IN SEVEN VITAL SECTORS IN IRAQ, 15 MARCH

AL-FATH: AMERICAN COMPANIES HAVE FAILED IN SEVEN VITAL SECTORS IN IRAQ

A leader in the Fatah Alliance, Uday Abdul Hadi, confirmed on Wednesday that American companies have failed in seven vital sectors in Iraq, most notably the electricity sector.

Abdul Hadi told Al-Maalouma, “American companies have enjoyed numerous exemptions to operate in most sectors within Iraq for many years, including seven vital sectors, including electricity. Despite the central government spending tens of billions to finance these companies’ projects, they have clearly failed and have not succeeded in delivering any vital projects for Iraq, especially in the field of electricity.”

He added, “All strategic projects in Iraq are being implemented by multinational companies, while American companies have not provided any real, reliable achievements.” He explained that “this failure reflects the lack of a genuine agenda that seeks to build and improve the reality of basic services.”

Abdul Hadi pointed out “the necessity of Iraq opening up to international companies to achieve its own interests, and not submitting to American pressure, which has not provided anything tangible for the national economy, but has contributed to delaying the development of many sectors, including electricity, through its pressures to prevent the entry of international companies, especially German companies.”

It is noteworthy that American companies have obtained a large number of contracts in several vital sectors within Iraq during the past years, but they have not provided any noteworthy achievements, and have been late in implementing many of the projects assigned to them.

MILITIAMAN: Iraq Dinar News-Central Bank-Impact of Changes Global Economy-Digital Dinar-Global Implications, 15 MARCH

 MILITIAMAN: Iraq Dinar News-Central Bank-Impact of Changes Global Economy-Digital Dinar-Global Implications

Highlights

Summary

In this video, the speaker discusses the current economic developments in Iraq, emphasizing the country’s readiness to enter the international arena. The presenter highlights various positive trends, such as the absence of US sanctions against the Al Rafidan Bank, planned mega projects to attract tourism, and significant investments in different sectors including gas and agriculture. 

The discourse reflects on the ongoing governmental efforts to stabilize and diversify Iraq’s economy through tax reform and potential privatization initiatives.

 Additionally, the speaker presents insights into the Central Bank of Iraq’s strategies focused on digital currency, emphasizing its potential impact on the economy and financial inclusion. The video encourages viewers to remain attentive to these developments as they are indicative of a transformative period for Iraq.

• 🌍 Iraq’s International Confidence: A sustained positive outlook for international integration marked by the absence of sanctions and governmental reforms.
• 🏨 Tourism Boost Initiatives: Plans to attract one million tourists per year with infrastructure projects like the construction of 1,300 new hotels.
• 🚀 Mega Economic Projects: Ambitious projects in various sectors, particularly in gas and tourism, poised to create job opportunities.
• 💡 Tax Reforms and Privatization: The push for privatization aimed at enhancing tax collection efficiency and minimizing governmental financial burdens.
• 📊 Digital Dinar and Cashless Economy: The Central Bank of Iraq’s plans to introduce a digital dinar, reflecting a shift towards modern monetary practices and financial inclusion.
• 📈 Investment in Infrastructure: Initiatives for developing industrial zones and port projects to enhance economic diversification and local job creation.
• ⚖️ International Standards Compliance: The Central Bank’s initiatives to adhere to international banking standards, indicating readiness for global integration.

Key Insights

• 🌟 International Standing Importance: Iraq’s readiness to shed its pariah status in the international community hinges on stabilizing internal financial structures and improving governance. The US Treasury’s confirmation about the absence of sanctions on the Al Rafidan Bank signifies a green light for international dealings, indicating a shift towards a more open economic environment that could drive foreign investment.

• 🚀 Tourism and Economic Sustainability: The projected increase in tourists through infrastructure investment signifies a move towards diverse revenue streams. By capitalizing on its rich cultural heritage and religious tourism, Iraq aims to enhance its economic base while also creating local jobs in hospitality and related services.

• 📜 Taxation and Reform Innovations: The discussion on privatization as a means to improve tax collection demonstrates a strategic shift in governance. Reducing the direct burdens on the government and allowing the private sector to handle taxation represents a move towards efficiency and transparency, which could bolster government revenues significantly.

• 💻 Future of the Digital Dinar: The Central Bank’s intention to introduce a digital dinar indicates a transformative approach to currency management in response to modern trends. Such a move could instill confidence in local currency and encourage financial activities among previously underserved populations, assisting in the broader economic revitalization.

• 🔍 Diversification of Investment: With mega projects planned in oil, gas, and agriculture, Iraq is positioning itself to emerge as a multifaceted economy. Investments in these sectors are essential for economic resilience, allowing for a lesser reliance on oil revenues, which are often volatile.

• 📉 Low Inflation as a Stabilizing Force: Current inflation rates hovering around 2.5% in Iraq are historically low for the region, with the Central Bank indicating sound monetary policy management. This stability, combined with substantial foreign exchange reserves, provides a solid foundation for potential currency revaluation and investment opportunities.

• 🔏 Adherence to International Standards: The Central Bank’s commitment to international accounting standards paves the way for better practices in auditing and a greater influx of foreign investors. By enhancing operational transparency and compliance, Iraq can attract international partners, leading to stronger economic ties and further developments.

This comprehensive analysis of the discussed topics in the video illustrates the potential transformative journey Iraq is undertaking. With government initiatives aligning closely with international financial standards and the adoption of a digital currency, the prospects for a robust and inclusive economic future appear promising. The focus on tourism, infrastructure development, and diversified revenue streams is crucial for establishing a sustainable economy capable of navigating modern demands. As the situation evolves, stakeholders and citizens alike will be looking for positive changes in the economic landscape of Iraq.

MNT GOAT: Will we have to wait for this digital currency to RV? @DINARREVALUATION #iraqidinar

 

Iraq Agrees to 80% Debt Reduction for Mozambique, 15 MARCH

 Iraq Agrees to 80% Debt Reduction for Mozambique

By John Lee.

Iraq has agreed to forgive 80% of Mozambique's bilateral debt, with the remaining 20% restructured over 15 years, following a four-year grace period (2029-2043).

The original debt of $60.26 million was incurred in 1979-1980 for oil supply agreements but had grown in the meantime to $320.16 million. Under the agreement, $256.13 million has been forgiven.

Negotiations took place from 2-6 February 2025 in Abu Dhabi, involving senior officials from Iraq's Ministry of Finance, Foreign Ministry, and Central Bank, alongside representatives from Mozambique's Ministry of Finance and its Economic and Commercial Advisor in Portugal and Spain.

(Source: Mozambique Ministry of Finance)

DINAR REVALUATION REPORT: It is possible that Iraq will revalue its dinar in 2025, 15 MARCH

DINAR REVALUATION REPORT: It is possible that Iraq will revalue its dinar in 2025

Whether Iraq will revalue its dinar in 2025 depends on several factors, although it is not possible to predict with certainty whether this will occur. However, here are some key aspects that could influence a possible revaluation:

Political and economic stability: Iraq still faces significant challenges in terms of political, economic and security stability. For a revaluation of the dinar to be successful, it is essential that there be a stable and predictable economic policy. If Iraq manages to improve its governance and internal stability, this could build confidence in its currency.

Oil prices: The Iraqi economy is highly dependent on oil exports. If crude oil prices remain high or stabilize at levels favorable to Iraq, this could improve the country's foreign exchange reserves and potentially allow for a revaluation of the dinar. However, the volatility of oil prices remains a source of uncertainty.

Foreign exchange reserves and monetary policy: To carry out a revaluation, the Central Bank of Iraq would need to have sufficient foreign currency reserves. Monetary authorities would also have to carefully manage monetary policy, adjusting interest rates and taking measures to control inflation.

Internal and external confidence: The confidence of investors and the population in the stability of the Iraqi dinar is also crucial. If Iraq can improve its economic environment and demonstrate a commitment to economic reforms, revaluation could be more feasible.

International conditions: External factors, such as the relationship with international institutions such as the International Monetary Fund (IMF) and other countries, could influence the decision to revalue the currency. Financial support or reforms recommended by international organizations can be key to generating the stability necessary for revaluation.

Although there are signs that Iraq has been considering various economic reforms, including eliminating zeros from its currency, revaluation in 2025 is uncertain due to the internal and external challenges the country continues to face.

MARKZ: Are there still 23 currencies in the first basket? @DINARREVALUATION #iraqidinarinvestor

 

GOVERNMENT ADVISOR: WE HAVE A LARGE FINANCIAL SURPLUS ENOUGH FOR IRAQ TO COVER TWO YEARS OF IMPORTS, 15 MARCH

 GOVERNMENT ADVISOR: WE HAVE A LARGE FINANCIAL SURPLUS ENOUGH FOR IRAQ TO COVER TWO YEARS OF IMPORTS

Mohammed Al-Najjar, the Prime Minister’s Advisor for Investment Affairs, confirmed that the Central Bank has a large financial surplus sufficient for Iraq to cover two years of imports.

Al-Najjar said in the program “Under Two Lines,” broadcast on Al-Iraqiya News, followed by the Iraqi News Agency (INA), that “the US administration is dealing positively with Iraq, contrary to what is being circulated in the media,” noting that “there is a moderate discourse from the United States because the energy market cannot bear it.”

He added, “The Central Bank has a large financial surplus sufficient for Iraq to cover two years of imports,” stressing that “there are mechanisms that the Central Bank is working with the US Federal Reserve to structure.”

He pointed out that “the government is currently implementing the banking reforms agreed upon between Washington and Baghdad,” explaining that “everyone is trying to protect Iraq because it is not in their interest for Iraq to be exposed to any crisis.”

He continued, “The cost of reconstruction and bridges in the country does not exceed 12 trillion dinars.”