Sunday, April 20, 2025

GOLDILOCKS: Iraq and Vietnam are already set up their already "in place" digital platforms!! #iqd

Al-Nusairi confirms the Central Bank’s methodology for banking reform and development that contributes to accelerating Iraq’s accession to the World Trade Organization, 20 APRIL

Al-Nusairi confirms the Central Bank’s methodology for banking reform and development that contributes to accelerating Iraq’s accession to the World Trade Organization

Economy News – Baghdad

During his participation in the specialized workshop held by the Ministry of Commerce to discuss Iraq’s accession to the World Trade Organization, Samir Al-Nusairi, stressed the role of the banking sector in contributing to accelerating the organization and the important role of the financial and banking sector in it.

He referred to the verification in 2023 and 2024 of the procedures carried out by the Central Bank in cooperation with the government with regard to the organization of foreign trade financing and the electronic platform and work directly between banks and international correspondent banks based on the approved reform and development methodology,

official data and monetary policy indicators for 2024 and the planned for 2025 and 2026 in cooperation with international consulting companies specialized in this field. Compliance with financial globalization and international standards adopted in the member states of the World Trade Organization.

Al-Nusairi explained the most prominent axes of the banking reform project launched by the Central Bank this month in the presence and participation of the Prime Minister.

He pointed to the war of customs tariffs launched by the US administration and its effects in the medium and long term on the principles of the unification of tariffs.

Customs for the member states of the organization, and what are the means of confrontation that will be adopted by the World Trade Organization and the CAT organization concerned with regulating customs duties at the international level.

The workshop was held in the presence of members of the National Governmental Committee concerned with the Organization, in which Iraq currently holds observer status with 21 other countries with 166 countries with full membership. In addition to the presence of representatives of the concerned ministries, the private sector and trade unions.

https://economy-news.net/content.php?id=54595

TIDBIT FROM FRANK26, 20 APRIL

Frank26

I believe this is a reinstatement, an RI because the RV...that was done a long time ago, about 5 to 7 years ago...IMO the new exchange rate, whatever it is...they've been using it for quite a while now.

'Oh, sure Frank, Oh sure! Oh sure!' You don't believe it? Don't believe it. It's my opinion.

You know why it's my opinion? It's the only way everything makes sense that we're seeing...We're missing variables...It's called the new exchange rate...

TEXAS SNAKE: " The bond releases is directly related to our RV" @DINARREVALUATION #iraqidinar

Postponement of the meeting of the Kurdistan Region’s oil resumption talks, 20 APRIL

Postponement of the meeting of the Kurdistan Region’s oil resumption talks

A meeting was scheduled to be held on Saturday in Baghdad between the Federal Ministry of Oil and oil companies and the Ministry of Natural Resources of the Kurdistan Region, but the meeting was postponed indefinitely.

“No meeting will be held today between the Federal Ministry of Oil, oil companies and the Ministry of Natural Resources of the Kurdistan Region on the resumption of oil exports,” Ministry of Oil spokesman Abdul Sahib Bazon said in a press statement.

This comes at a time when the Minister of Oil announced on Wednesday (April 16, 2025) that “a delegation from the Ministry of Natural Resources of the Kurdistan Region will visit Baghdad on Saturday, April 19, to start negotiations again on the resumption of oil exports.”

On February 2, 2025, the parliament approved the first amendment to the Iraqi budget law for three years, with the aim of resuming the export of the Kurdistan Region’s oil, which has been suspended since 2023.

According to the amendment, $16 per barrel was set to cover the costs of production and transportation of the Kurdistan Region’s oil until an international consultant sets an estimated price within 60 days, but the companies and the Ministry of Oil have not yet agreed on previous debts, as well as on ensuring the disbursement of those financial dues.

https://alforatnews.iq/news/تأجيل-اجتماع-مباحثات-استئناف-تصدير-نفط-اقليم-كردستان

MILITIAMAN: MM&C Iraqi News - Port of Faw: Development of gateway, heart of region, 20 APRIL

MILITIAMAN: MM&C Iraqi News - Port of Faw: Development of gateway, heart of region

Highlights

Summary

In the recent discussions within the Militia Man and Crew community, critical developments regarding Iraq’s economic landscape and geopolitics have emerged. There are significant advancements in Iraq’s infrastructure, particularly the Grand FA Port, which is seen as a gateway to regional economic development,

according to the Omani Minister of Transport. Iraq is positioning itself as a central trade corridor, responding to shifting dynamics in the Middle East, especially after diminishing Iranian influence in Syria and Lebanon.

The upcoming Arab summit in Baghdad illustrates Iraq’s efforts to strengthen regional ties. Meanwhile, discussions surrounding the country’s rich natural resources—particularly thorium and uranium—highlight its potential to diversify its economy and enhance its global economic standing.

This transition towards leveraging mineral wealth aims to stabilize the national currency, create jobs, and attract international investments, reflecting a broader strategy to integrate into the global financial system and foster long-term economic sustainability.

🌍 Gateway to Development: Iraq’s Grand FA Port is recognized as a pivotal development project for regional trade.
🇮🇶 Shifting Regional Dynamics: Iraq emerges as a key player amid Iran’s declining influence, attempting to strengthen ties with neighboring Arab countries.
💵 Potential Economic Powerhouse: Iraq’s wealth in natural resources could elevate its status as an economic power in the region.
💥 Strategic Minerals: Discoveries of thorium and uranium could diversify Iraq’s economy beyond oil dependency.
💡 Job Creation and Economic Stimuli: Development projects are expected to create numerous job opportunities, enhancing the lives of citizens.
🏛️ International Partnerships: Iraq’s relationships with major economies like India and China position it strategically in the global market.
⚖️ Monetary Stability Goals: The development of non-oil resources aims to stabilize Iraq’s currency and improve overall economic policies.

Key Insights

📈 The Grand FA Port’s Significance:
The Grand FA Port is posed as more than just an infrastructure upgrade; it represents Iraq’s strategic intent to realign its economic capabilities and regional positioning. By enhancing logistical capacities, Iraq can cement its status as a trade corridor between key regions, ultimately influencing economic rejuvenation and attracting investments.
🌅 Rebalancing Regional Relations:
With Iraq engaging actively with its Arab neighbors and creating a more integrated Arab bloc, it signifies a potential shift in geopolitical relations. Iraq’s invitation to Syria’s leadership for the upcoming Arab summit emphasizes the country’s endeavor to restore relationships and ameliorate regional tensions.
🌟 Natural Resource Wealth as a Catalyst:
Iraq’s substantial natural resources, estimated at $16 trillion, suggest a remarkable economic opportunity. Focusing on strategic minerals such as thorium—which promises cleaner energy—could potentially yield economic returns comparable to oil, thereby diversifying Iraq’s economic framework and reducing dependency on oil revenues.
👷 Job Creation Potential:
The development road project and investments into natural resources hint at significant employment opportunities. Job creation often generates even more ancillary positions, indicating potential for widespread economic benefits and community wellbeing.
🌐 Global Market Integration:
Iraq aims for an integrated global financial presence, which necessitates a structured approach to diversifying its economy. By emphasizing its rich mineral deposits, Iraq can attract foreign direct investment and present itself as a viable destination for international business ventures.
🕊️ Regional Stability and Economic Growth:
As the ongoing negotiations between the U.S. and Iran unfold amidst concerns of regional security, Iraq is habitually positioned to benefit from positive outcomes. This interplay directly correlates with the prospect of economic growth, as a stable environment is key to attracting investment and fostering trade partnerships.
💰 Monetary Policy Implications:
The focus on diversifying into non-oil resources has pivotal implications for Iraq’s monetary policy. A successful linkage of the national currency’s value to emerging industries can advance economic stability, encourage fiscal responsibility, and enhance citizens’ standard of living.

Iraq stands at a critical juncture, poised to redefine its economic landscape while gaining a reinforced foothold as a vital player in the Middle Eastern geopolitics and trade. Engaging strategically with its abundant natural resources, the country aims not only for immediate growth but also sustainable economic practices that promise longevity and prosperity for its citizens.

DINAR REVALUATION