Wednesday, April 2, 2025
Video: Iraq's Economy between US, Iran: Perceptions & Realities, 2 APRIL
Video: Iraq's Economy between US, Iran: Perceptions & Realities,
The London School of Economics (LSE)'s Middle East Centre has hosted a talk byAhmed Tabaqchali, exploring the economic and financial interactions of the Iraqi economy with the outside world, particularly the use of the dollar in relation to Iran and the US.
While the US' Iraq policy is still fluid, there have been signs that America's 'maximum pressure campaign' towards Iran will have spillover effects in Iraq, with the Trump administration viewing policy towards Iraq solely through the lens of a perceived threat of Iranian dominance in the country. Iran's economic footprint in Iraq, both perceived and real, will be an issue for Iraq and its relationship with the US and the West.
According to Tabaqchali's data, in 2024 China imported about 95 percent of Iran's 1.55 mbpd of oil exports, worth $36 billion; $3bn of LPG, and $11 billion in other imports, for a total of $50 billion, using an extensive global financial web. In the same period, Iraq imported $3 billion in gas and electricity (which Iran does not receive and which are governed by waivers for humanitarian goods), and $7.7 billion of private sector imports. "So," argues Tabaqchali, "which is the lung here?"
The session, chaired by Toby Dodge, ended by a lively 40 min Q&A session.
Click here to view the full discussion.
(Source: LSE)
EXCERPTS FROM MARKZ, 2 APRIL
EXCERPTS FROM MARKZ
Member: Paymaster, attorneys…..group leaders. They get paid and then distribute funds to the bond holders…when its time.
Member: Could today be the day?
MZ: I don’t think it will be today. Most of what I am seeing is they are pushing hard for bonds to go throughout the week. But nobody knows the timing.
Member: its always next week or within 48 to 72 hours.....lets git 'er done already!!!
Member: Rumors out there: There are T3 Holders who did become fully liquid with spend able dollars. Many on March 25th at 2am EST.
Iraq's Ambitious Tourism Plans: Impossible Dream Come True?, 2 APRIL
Iraq's Ambitious Tourism Plans: Impossible Dream Come True?,
Iraq wants to diversify its economy away from oil and toward tourism. Although Western travelers have made headlines in once-dangerous Iraq of late, it's probably Arab tourists who will boost business.
The central Baghdad square where Iraqi Prime Minister Mohammed Shia al-Sudani is about to give a speech on tourism is surrounded by exactly the kinds of historic buildings tourists will want to see when they visit: Two centuries-old mosques, one of the Arab world's oldest universities, an 800-year-old castle, the oldest church in the city, and the former seat of Baghdad's government during the days of the Ottoman Empire.
But the area around Saray Square also bears the scars of Iraq's more recent history, which has kept tourists away for years. Just down the road from the square is Muttannabi Street. In 2007, a car bomb killed 30 people there and destroyed much of the thoroughfare famous for its booksellers. In 2019, nearby Rasheed Street became a dangerous frontline where demonstrators and security forces battled during anti-government protests.
But things have changed a lot in the last five years, with Iraq experiencing a long period of comparative calm and security. That's why on this evening in late February, Iraqi officials are celebrating the start of Baghdad's year as the Arab Capital of Tourism 2025, a title bestowed annually by the Arab Tourism Organization, part of the Arab League. Rows of white armchairs for foreign dignitaries have been arranged in front of a large screen, floodlights blaze above, drones hum overhead, and later a band seated on stage will play Iraqi folk songs.
"Thanks to the sacrifices of its people, Iraq has reclaimed its rightful position as an influential nation, attracting tourists from around the world to experience its rich civilizations," Iraqi Prime Minister al-Sudani proclaimed as he received a large, symbolic key from dignitaries representing Oman, the 2024 title holder.
Moving away from oil
As with many other oil-producing nations in the region worried about the world moving away from fossil fuels, Iraq is keen to diversify national income and encourage more jobs in the private sector, rather than the oil industry or public sector.
Tourism — mostly the religious kind — already makes a direct contribution of around 3% to Iraq's gross domestic product (GDP). But the Iraqi government says it wants to grow that to 10% by focusing on other things Iraq has to offer.
It's not an implausible ambition. In countries like Egypt, Tunisia, Morocco and the United Arab Emirates, where tourism is already developed, the sector makes up between about 7% and 9% of national income.
And Iraq already gets between 6 and 10 million religious tourists every year — mostly from Iran and Turkey — because it is home to some of the most important Islamic shrines in the world.
However, since the Iraqi government relaxed visa requirements for foreigners in 2021, offering a visa-on-demand for citizens from over 30 countries, that's been changing.
Exact numbers are hard to come by because of the different ways visitor numbers are collected in Iraq but last year tourism authorities said 400,000 internationals had come for cultural or leisure tourism.
Ambitious plans
"It's 100% possible," says Ali al-Makhzomy of Iraq's tourism ambitions. Al-Makhzomy is the founder and chairman of Bil Weekend, a local tour agency that works with both domestic and international tourists. "It could even cover 30% of the Iraqi budget," he enthuses, before adding, "with some conditions, of course."
There is no doubt Iraq has all the ingredients: This includes six UNESCO World Heritage sites, locals with an almost ridiculously generous attitude toward guests, natural attractions and archeological treasures dating back thousands of years.
Western tour groups and travel influencers in Iraq have made international headlines because the country is often still perceived as dangerous to visit. But tourists from Arab countries could well have the biggest, immediate economic impact.
Although an official 2021 visit from Pope Francis made a difference in broader perceptions of Iraq, locals told DW that visitors from Arab countries didn't really start coming to Iraq for cultural tourism until a major football tournament was held in southern Basra in early 2023.
"The Gulf Cup in Basra was when Iraq really opened the door to Arab visitors," explains Diyar Talal, one of the founders of the not- for-profit Iraqi Traveler's Cafe, or ITC, a forum with around 100,000 members on social media. "And we started to see people from Gulf countries... Saudi Arabia, Bahrain, Kuwait, you name it... coming here for tourism, not just religious reasons."
Domestic tourism also booming
Al-Makhzomy actually started his company in 2016 to cater to the domestic market after he noticed locals becoming more interested in their own history, although they didn't always know how to explore it. Not to mention that a lot of the historic sites in Iraq were often closed on the weekend, he adds with a laugh.
Now, al-Makhzomy estimates around 20,000 Iraqis visit places like the site of ancient Babylon every month.
"There are so many opportunities there," he suggests. "From culinary experiences related to the heritage sites to more drivers and tour guides. If you're a young guy living nearby and you start making souvenirs, you're going to do good business."
Opportunities are there because there are still so many gaps in the local market. While vendors on Baghdad's popular Muttannabi Street oversee tables loaded with fridge magnets, statuettes and Iraqi flags, there's not much to purchase at some of the most popular attractions. For example, at the Iraq National Museum in Baghdad, you'll see some of the most incredible antiquities in the world, including a 3,600-year-old sample of the world's first literature. But a dusty postcard in a neglected gift shop is the only thing to spend money on there.
As one local explained — off the record because they didn't want to jeopardize their job — that's the difference between government-run facilities like the museum where, they say, "people don't really care, they get paid anyway," and the private sector, where entrepreneurial locals run their own businesses.
Vision wanted
There are obviously other, bigger stumbling blocks for Iraqi tourism, too. Many Western countries still advise citizens against travelling there and although Gulf states' nationals were granted visa-free travel to attend football games in Basra, citizens of other Arab countries may find it harder to get into Iraq than most Europeans. Other issues include nearby conflicts — such as in Gaza — and climate change, which is making Iraqi summers increasingly unsuitable for travel.
While some of those problems are intractable, there's a lot more that could be done, locals in the sector argue.
"I think our country needs to have a vision for tourism," the ITC's Talal argued. "Look at Saudi Arabia, they have Vision 2030 [which includes tourism objectives]. We don't have that and I don't think we can change without something like that."
"We need a real plan from the government and a lot of investment to move the industry forward," Bil Weekend's al-Makhzomy concluded. "Tourism is not just tour-guiding. It means hospitality as well — hotels, restaurants, everything. It's a whole industry and you need to be able to cover every step."
Tuesday Coffee with MarkZ. 04/01/2025, 2 APRIL
Tuesday Coffee with MarkZ. 04/01/2025
Apr 1
Tuesday Coffee with MarkZ. 04/01/2025
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Happy April Fools Day. If the RV happened today….Noone would believe it…lol
Member: Let's get this party started
Member: Inquiring minds want to know……Do Bond holders have their money yet???
MZ: Well some facilitators do….just not the Bond holders yet.
Member: Facilitators have money , who are they ?
Member: Paymaster, attorneys…..group leaders. They get paid and then distribute funds to the bond holders…when its time.
Member: Could today be the day?
MZ: I don’t think it will be today. Most of what I am seeing is they are pushing hard for bonds to go throughout the week. But nobody knows the timing.
Member: its always next week or within 48 to 72 hours.....lets git 'er done already!!!
Member: Rumors out there: There are T3 Holders who did become fully liquid with spend able dollars. Many on March 25th at 2am EST.
Member: Maybe something big will happen tomorrow on “Liberations Day” According to President Trump.
MZ: Tomorrow we expect the Department of External Revenue to form and cut our tax load.
Member: Trump said something big coming he wanted today but didn't want people to think it was April fools so tomorrow
Member: What is the difference between a redenomination and a revaluation?
MZ: With a redenomination they do not change the value…just print higher bills because they have lost so much purchasing power. The white papers have been very clear that they want to lift the purchasing power and the exchange rate…..so a revaluation. They have been very clear they are not redenominating.
MZ interesting one highlighting Zimbabwe and our friends at Zerohedge: “Paper Promises, Golden Truths” Paper money eventually returns to its intrinsic value of zero. According to Voltaire. This has happened many times throughout history. They go fiat, it loses its value and it crashes. Then metals, assets and commodities become the valuable thing. People realize they do not want fake- they want real.
MZ: Which country’s currencies have we all been chasing? Those that have the most assets whose currencies are undervalued.
MZ: Our unusual fiat era is ending. Since 1971 the world has been on a highly unusual 100% fiat monetary system. Not a single country operates under hard money today. For most of history the world has been on a gold or silver standard . Switching to paper was always a desperation move and usually happened after major wars when governments were running low on cash. They switched to fiat to pay their bills.
MZ: But when things go wrong- gold and silver will make their inevitable return, And they are now getting to the need to reset. They are talking about it everywhere.
Member: Main stream Economists are talking about it constantly. Not just folks in Dinarland
MZ: We are seeing it in the news everywhere and they are preparing us for a RESET.
Member: Frank had an article that said ASRAFLAK is supposed to start right after Eid...and last 2 months
MZ: I do not believe we will be waiting for 2 months.
Member: “Al Sudani: We have contracted with Oliver Wyman to reform the private banking system and will launch after EID (reform plan +ASRAFLAK)
MZ: They are doing exactly what they told us they would. They are stabilizing the system so they can raise the value of the dinar.
Member: "Rafidain Bank CEO: The bank is at the beginning of a new phase with greater influence on the Iraqi financial landscape."
MZ: “ World council: 29% of countries central banks plan to buy gold in 2025” Gold is now at $3, 139.60 today. And silver is hovering at the $34 dollar mark.
MZ: Markets are correcting and gold is going up. This is setting the stage to revalue the gold inventory in the US and the Central Banks. I believe we are watching a methodical and calculated reset right now. With this many central banks grabbing gold again…They just may be ready for a reset.
Member: How does the value of gold going up affect the RV?
Member: All the gold Iraq has stockpiled will be worth more to back the higher dinar rate.
Member: So, Trump is going to Saudi Arabia...Any chance he'd be making a visit with Sudani as he launches the new Dinar rate?
Member: What ever happened to the auditing of the gold in Ft Knox? That seems to have just gone by the wayside!
Member: It not a question of if, just a matter of when
Member: Iraq - Just completed training for Digital Training Iraq Govt payments. Trump Liberation Day April 2nd. Patriot's exciting time to believe alive !
Member: M. Bara has special news update at noon eastern-any clue on what info is??? Bond paying out??? CMKX??? Contacts paid???
Member: So ready to exchange poverty for prosperity!!
Member: Everyone enjoy your day. And remember- The best is yet to come!!!!
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