FRANK26: "AND IF YOU THINK THAT MUCH IS FOR 1310... THINK AGAIN"., 19 MARCH

 KTFA

FRANK26: "AND IF YOU THINK THAT MUCH IS FOR 1310... THINK AGAIN".....F26 

Al-Sudani's advisor: Iraq's foreign reserves reach $110 billion

3/16/2025

 

- Baghdad
 

The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Sunday that Iraq's foreign exchange reserves are a safety net against economic fluctuations, noting that they are estimated at approximately $110 billion.

"Iraq's foreign exchange reserves are one of the most important indicators supporting investment, both domestic and foreign, as the country has a stable foreign exchange portfolio estimated at approximately $110 billion, distributed between gold, dollars, and foreign currencies," Saleh said in a statement to the official agency, followed by "Al-Eqtisad News."

He explained that "these reserves contribute to strengthening macroeconomic stability, both domestically and externally, making them a protective factor against global economic fluctuations and shocks. They also provide strong coverage for the monetary base and financial indicators related to trade and international debt maturing soon. "

He added, "The current account of the balance of payments is recording positive rates that enhance the stability of the value of the Iraqi dinar,thus reducing the impact of fluctuations in global oil markets, given the nature of Iraq's rentier economy." He noted that "Iraq, as the fifth largest oil producer in the world, enjoys sustainable foreign financial flows, enabling it to quickly and efficiently support its cash reserves."

He stressed that "these strong reserves provide a stable investment environment, which contributes to accelerating the pace of investment and supporting the country's promising economic growth."

LINK

TIDBIT FROM WOLVERINE, 19 MARCH

 Wolverine  

[via Judy Byingston] 

  “A high, high source ...told me we will be celebrating this week. 

I can’t tell you the date, but it will all be happening this week.”

FIREFLY: IRAQ BUDGET IS GOING FORWARD @DINARREVALUATION #iraqidinarinvestor #iraqidinar

 

FRANK26: "THERE YOU GO PRESIDENT TRUMP."., 19 MARCH

 KTFA

FRANK26: "THERE YOU GO PRESIDENT TRUMP."..........F26

Iraq and Turkey agree to double electricity supply via the interconnection line to 600 megawatts.

3/16/2025

 

Iraqi Minister of Electricity, Ziyad Ali Fadhil, received Turkish Minister of Energy, Alparslan Bayraktar, in Baghdad on Sunday, in the presence of Turkish Ambassador Anil Bora Inan, to discuss prospects for cooperation in the energy sector and strengthening the electrical interconnection between the two countries.

The Iraqi minister confirmed, according to a statement received by Shafaq News Agency, that the Ministry of Electricity has completed all preparations to increase the supply capacity via the Iraqi-Turkish interconnection line to 600 megawatts, proposing the formation of a joint higher technical committee to follow up on the implementation of the agreements.

For his part, the Turkish minister announced that supplies via the joint pipeline will double in the coming months, emphasizing Ankara's keenness to enhance cooperation with Baghdad in the energy sector.

It is noteworthy that the joint electricity interconnection line (Kask-Jazra 400 kV) began operating last July and currently supplies Iraq with 300 megawatts.

Turkish Minister of Energy and Natural Resources Alp Arslan arrived in Baghdad on Sunday, where he was received by Iraqi Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani.

LINK

TIDBIT FROM SANDY INGRAM, 19 MARCH

 Sandy Ingram  

5 reasons why the IQD will increase in value.  This assessment is based on Iraq only accepting payments for shipping services in its own currency.

 1.  Higher demand for IQD - when international companies pay for shipping, railway usage and port service in Iraq dinar, the demand for the currency increases. 

 2. Scarcity formula - As more businesses buy IQD...the supply of available dinar decreased making each unit more valuable. 

 3. Less dependent on the US dollar - if Iraq shifts...to the IQD instead of USD it strengthens the local currency while reducing inflationary pressures. 

 4.  Stronger economy equals stronger currency.  The development road will create jobs, increase exports and boost government revenue leading to economic growth and a more stable IQD. 

 5.  An alternative to the Suez Canal saving billions for companies exporting to Europe.

ARIEL: We Should See Iraq Make their Moves Now @DINARREVALUATION #iraqidinarinvestor #iraqidinar

 

Direct implementation of the ASYCUDA system at Abu Fluos Customs in Basra, 18 MARCH

 Direct implementation of the ASYCUDA system at Abu Fluos Customs in Basra

Director General of the Customs Authority, Thamer Qasim Daoud, announced today, Tuesday, the commencement of work on the ASYCUDA system at the Abu Flus Customs in Basra.

In a statement received by Al-Eqtisad News, Daoud said, "The electronic automation system (ASYCUDA) has been implemented at the Abu Flus Customs in Basra Governorate  link

Tishwash:  Despite the budget amendments being completed a month and a half ago, there's a "possible" reason behind the delay in the schedules.

More than a month and a half has passed since the 2025 budget amendment was passed, but the 2025 schedules have yet to reach Parliament, raising questions about the reasons behind them. 

The initial obstacle to submitting the schedules was the delay in the budget amendment, but it appears the delay stems from the same reason related to Article 12 of the budget, which was amended but did not bear fruit.

Member saysFinance CommitteeParliamentarian, Mustafa Al-Karaawi, told Sumaria News that "the 2025 budget schedules were supposed to arrive before the end of the fiscal year, according to the text of Article 77, secondly, of thelawFinancial managementBut the schedules have not arrived yet, which is considered a violation of this text.

He explained that "there is information that the tables will reachHouse of Representatives"At the end of this month," he said, noting that "the delay in the schedules has disrupted many of the country's economic activities, the launch of operating budgets, and the halting of projects."

He stressed that "there are no appointments or confirmations for specific categories in the current year's budget," noting that "the allocations will be within the previous sections, but with different numbers, so the 2025 budget will be free of appointments."

The delay in sending the schedules for approval was due to the awaited amendment to the budget law, particularly Article 12 related to the Kurdistan Region's oil. After the amendment passed in early February, it was followed by significant tension and disagreements.

Despite about a month and a half having passed since the budget amendment was passed, the schedules have not yet been sent. It appears that the delay in sending the schedules is linked to the delay in resolving the issue of resuming Kurdistan's oil exports due to the ongoing disputes between Baghdad and foreign companies in Kurdistan. The Ministry of Finance and the government are unable to confirm the final expected revenue figures due to the lack of a decision on whether or not oil will be exported from Kurdistan. link'