FRANK:ATMs are now in position. They’re bringing them forth. Not all are out I know but just curious, do you think they have the lower notes in them right now?
FIREFLY: Mr Sammy wants you to know IHO no lower notes in them yet. But soon.
FRANK: Smile!!!
I am concerned about the budget which I believe has the origin, which I believe has the new exchange rate and I am concerned about the gazette which I believe is hiding the new exchange rate. Everything else waits for the new exchange rate.
The dong? Oh my goodness. I have a feeling next month in May we’re going to be talking about the dong. I hope we’re done talking about the Iraqi dinar pretty soon…But the dong? Oh my word…
The most prominent of which are "thorium and uranium"... Iraq: Our natural resources are estimated at (16) trillion dollars.
The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Friday that Iraq ranks ninth globally among countries rich in natural resources, while pointing to a move to invest in strategic minerals whose revenues rival those of oil .
According to the official agency, the Prime Minister's financial advisor, Mazhar Mohammed Salih, "Iraq ranks ninth among the world's ten richest countries in terms of natural resources, with its wealth in preciousmetals, minerals, and other resources estimated at at least $16trillion, according to preliminary global estimates ."
He pointed out that "Iraq ranks first in the world in terms of the concentration of natural resources per square kilometer of its vast and diverse geography, particularly in the Mesopotamia Basin region, which is rich in underground resources ."
He explained that "investing in strategic minerals such as thorium and uranium could generate returns comparable to those of oil, as thorium is a cleaner and more important alternative for energy generation compared to uranium." He noted that "linking the value of the national currency to investment in these minerals depends on Iraq's ability to enter value-added chains, which contributes to raising the gross domestic product ."
He added that "the discovery of large quantities of thorium and uranium in southern Iraq represents 'strategic news' that will have a significant impact on diversifying the national economy if exploited optimally, especially if linked to the investment policies associated with the Development Road Project ."
Saleh emphasized that "advancing the exploration and manufacturing processes for these two resources will pave the way for the development of non-oil resources, enhancing Iraq's global geo-economic position. Furthermore, this development will chart the outlines of a new industrial map linked to the path of development, establish a sustainable future, attract major global mining companies with advanced technological capabilities, and provide quality job opportunities within the Iraqi market ."
He pointed out that "this boom in mineral investment will have a positive impact on fiscal and monetary policy, by enhancing monetary stability and increasing national income, which will contribute to improving citizens' well-being ."
He continued, "The importance of thorium and uranium minerals in the global energy market, and the presence of major economic partners such as India, China, and the United States, make Iraq a pivotal player in the field of unconventional fuel resources and an influential center in facilitating international security and energy paths link
Al-Karawi: Failure to send budget tables is a constitutional violation.
Member of the Parliamentary Finance Committee, MP Mustafa Al-Karawi, confirmed on Friday that the government's delay in sending the budget tables constitutes a clear violation of the provisions of Article (77/Second) of the Budget Law, calling on the House of Representatives to take its role in holding the government accountable for this legal violation.
Al-Karawi told Al-Maalouma, “The government was legally obligated to submit budget schedules before the end of the previous fiscal year, but four months have passed without it complying with this, which constitutes a clear violation of the law and a failure to fulfill its constitutional duties.”
He added, “The delay in the 2024 and 2025 budget schedules is a serious indicator of administrative and oversight shortcomings within the relevant projects government institutions, which negatively impacts and implementation plans.”
Al-Karawi pointed out that “90% of the budget depends on oil revenues, at a time when the global market is experiencing sharp fluctuations, which makes basing a three-year budget on an unstable resource an ill-considered move.”
He pointed out that "the 2024 budget arrived late, was sealed by prior political agreement, and was not subject to a genuine review within Parliament. Despite containing fundamental problems, the results of which have begun to become apparent through the suspension of projects and the delay in referral and implementation."
Al-Karawi stressed that “Parliament is required to exercise its oversight role and hold the government accountable for this negligence, which could cause significant harm to the national economy and development plans.” link