FRANK26: "NOW SUDANI MUST FUFILL HIS OBLIGATION"

KTFA

FRANK26: "NOW SUDANI MUST FUFILL HIS OBLIGATION"........F26

Erbil calls on Baghdad to end the "policy of depriving" the region's citizens of salaries: We have fulfilled our obligations.

7/2/2025

 

The Kurdistan Regional Government's Council of Ministers affirmed on Wednesday the implementation of all obligations imposed by the federal government regarding the region's oil exports through SOMO, and the transfer of sales proceeds to the federal Ministry of Finance. The Council called on Baghdad to end the "policy of depriving" Kurdistan citizens of their salaries. 

The media office of the Kurdistan Regional Government said in a statement received by Shafaq News Agency,  "The Kurdistan Regional Government Council of Ministers held a meeting today, chaired by Prime Minister Masrour Barzani. The meeting mainly focused on discussing the results of the recent meetings between delegations from the Kurdistan Regional Government and the federal government, which took place in Erbil and Baghdad in the presence of representatives of oil companies. The meetings focused on starting the export of the region's oil through SOMO, and following up on the disbursement of salaries to the region's employees for the months of May and June."

The Council of Ministers affirmed, according to the statement, that "the Kurdistan Region has fulfilled all of the obligations imposed on it and more, and has shown all the necessary flexibility to begin exporting the region's oil through SOMO and transferring the proceeds from its sale to the federal Ministry of Finance."

He continued, "The region and its oil companies have also demonstrated their full willingness to cooperate with the federal government to remove all pretexts and justifications used by Baghdad to withhold salaries from Kurdistan citizens."

The meeting emphasized that "all parties are now awaiting the federal government's decision to ratify this joint understanding reached in recent days in the presence of oil company representatives. Under this understanding, the federal Ministry of Finance will no longer have any justification for not disbursing financial dues to the region." 

He pointed out that "all issues related to payrolls, job numbers, monthly joint audit mechanisms, coordination between the Federal and Regional Financial Supervision Bureaus, the mechanism for paying salaries through banks, and the Region's share of the federal treasury have been fully implemented, and the Regional Government continues to adhere to them."

The Council continued, "Baghdad must end its policy of depriving Kurdistan citizens of their salaries, as salaries are a constitutional, legal, and humanitarian right for the region's employees, and this right cannot be violated under any pretext or justification."

He added, "In the second part of the meeting, Minister of Labor and Social Affairs, Kwestan Mohammed, presented a report on unemployment and social insurance for workers in the Kurdistan Region."

The report includes "a number of statistics, information, recommendations, and proposals aimed at protecting the rights of workers and employees in private sector institutions by registering them with the Social Security Fund, providing them with retirement rights, and regulating the mechanism for employers' contributions to paying social security dues. This will ensure, in the future, the provision of services to eligible workers and employees entitled to retirement and insurance, including retirement salaries and other services stipulated in the Retirement and Social Security Law."

The Kurdistan Region's employee salary crisis is one of the most contentious issues between Baghdad and Erbil, amid ongoing debate over oil exports, constitutional obligations, and fiscal policies. This makes the upcoming meetings between the two sides pivotal in breaking the current political and financial deadlock.

LINK

 

GINGER: TNT UPDATE: There is an announcement to be made in the next 4 hours that will CHANGE THE RATE TO 3.47!!

 GINGER

💢 Happy Camper Event news. Latest from TNT - sharing because I have Gintel Compliant Details ✅ 6.30.25 

TONY TNT - GOOD NEWS!   Supposedly Trump wanted to announce this with the Big Beautiful Bill, anyway, Sudani said, "at least give us 48 hours" to Trump.  

So the date that Sudani is briefing on TV and telling all he can tell is that "Iraq will have new purchasing power on July 1, 2025"  Today, was supposed to be the date..But Sudani asked Pres Trump for extra time... 

So, here we are.. It looks good. It looks great.. Tony has been getting information all morning that it is done, that they have released it. 

That we will see it tomorrow. Then, Tony got info that it was "in the system right now, and they are ready to push the button as it is propagating.  It is live, right now, on Bloomberg, for the FIRST TIME IN TWENTY YEARS at 1310" Bloomberg and FX.  

Supposedly, there is an announcement to be made in the next 4 hours that will CHANGE THE RATE TO 3.47...

Then, there will be a live rate tomorrow for all of us to go to the bank. 

Tony says we should  be jumping up and down celebrating. We now know who held it up, why it was held up.  But none of that matter because Tony says "We are now there, and that is what matter. We are there!"  

The rates are going to start at 3.45 because they want you to go down, and then "shoot up from there." Tony says it has nothing to do with our higher rates.

 He says none of the process has changed that he has been made aware of. Tony hopes that in the next 4 hours  TO GET 800 NUMBERS, and he hopes TO DO ANOTHER CALL So you can START SCHEDULING APPTS FOR TOMORROW. Tony says this is how it should work. 

 Now that the banks are assured it is on Forex, (because it is), where the banks can see it, We may not see it right now, but it only takes two minutes to propagate around the world. 

 Forex has to go through its protocols giving everyone that "pending" two hour window, give then time to adjust, shut down their systems, do what they need to do, and then rates pop  up.  Even though we may see it on Forex they do not want us going to the bank until tomorrow, soooo, that means we should get the 800 numbers TONIGHT. 

This is what Tony told "them", "If you don't get me the 800 numbers I will just do my next call and tell everyone to go to the bank, as it is a live rate and will have to be live sometime!"

  "He said he hopes that they send the 800 numbers so this can be done in an organized fashion and everyone can go and get their money."  I did not want to do this call right now, but so much info going back and forth very fast, and so many people excited, he wanted to go over the procedures with us.

 We still have to wait for the actual event, BUT Sudani started it yesterday, on Television, telling his people in the next Two days, but now today, Sudani is telling his people "tomorrow." 

 We know now he has flipped the switch as it is propagating,  For people who pay on Bloomberg, you can see it.  Rate of 1310, first time in twenty years, and this is what the banks wanted to see, and in the next 4 hours they will make the decision to change the rate to 3.47.

  You can go can go and get  your champagne and jump up and down and start going through your lists!

H/T to Carpathia for transcription

FIREFLY: DELETING ZEROS FROM THE DINAR WAS EXPLAINED ON TV @DINARREVALUA...

Net Foreign Investment In Iraq Declines In 2024 And The First Quarter Of 2025

 Net Foreign Investment In Iraq Declines In 2024 And The First Quarter Of 2025

Money and Business  Economy News – Baghdad  Data released by the Central Bank of Iraq showed that net foreign investment in Iraq recorded a deficit of $8 billion in 2024, due to net foreign investment outflows of $7.6 billion, in addition to Iraqi investments abroad amounting to $400 million.

For the first quarter of 2025, data indicates a continued negative trend, with net outward foreign investment from Iraq exceeding $1.1 billion. This figure is broken down into:

- Net outward foreign investment of $1 billion.
- Iraqi outward investments of $133 million, registering a 21% increase compared to the last quarter of 2024.

Despite a 36% decline in net outward foreign investment, the index remains in negative territory, according to Al-Abidi. This means that investments continue to leave Iraq rather than flow into it, reflecting the ongoing challenges facing the local investment environment.

Foreign direct investment—both inward and outward—plays a vital role in Iraq's balance of payments. Along with oil sales, it represents one of the primary sources of foreign currency. The higher the investment flows, the less pressure there will be on the local market's demand for dollars and other foreign currencies.

It's worth noting that the Iraqi government had previously announced attracting $63 billion in foreign investment over the past two years, but these figures were not actually reflected in the balance of payments data. 

This is likely because these projects have not yet been completed or have not entered into actual financial implementation, meaning their monetary impact on the banking and financial system has been absent.  441 views  https://economy-news.net/content.php?id=56899

TIDBIT FROM SANDY INGRAM

  Sandy Ingram 

...On June 26th, reports emerged of a large-scale dollar smuggling operation involving billions of dollars allegedly let by Iranian networks. 

 This illicit flow of US currency is affecting the official IQD/USD exchange rate and potentially putting pressure on the Central Bank of Iraq. 

 In June the World bank approved a $930 million loan for the Iraq railways extension and modernization project connecting Umm Qasr in the South and Mosul in the north. 

 This investment will boost domestic trade, create jobs and reduce reliance on oil exports which is necessary for a revalue of the IQD.

MAJEED: IRAQ IS ADJUSTING SALARIES WITH THE NEW RATE & STABILIZING THE I...

The Association Of Private Banks To Nina: Iraq Has Made Significant Progress In Promoting Financial Inclusion...And These Are The Requirements For The Success Of International Standards.

 The Association Of Private Banks To Nina: Iraq Has Made Significant Progress In Promoting Financial Inclusion...And These Are The Requirements For The Success Of International Standards.

Wednesday, July 2, 2025, | Economic Number of reads: 109  Baghdad / NINA / The Iraqi Private Banks Association confirmed: "Iraq has achieved significant progress in financial inclusion thanks to the Central Bank's commitment to implementing international standards."

The head of the association, Wadih Al-Handhal, said in a statement to the National Iraqi News Agency ( NINA ), that "the Central Bank of Iraq is moving forward in implementing compliance standards and enhancing financial inclusion in the banking sector, and the Banks Association also supports raising awareness of financial inclusion."

He explained that "the success of the basic requirements for implementing these standards and achieving advanced levels in combating money laundering depend on training specialized and qualified staff to use information and databases, based on the principle of knowing the customer and the sources of his funds."

He added: "The Middle East and North Africa Financial Action Task Force (MENAFATF) has transformed Iraq from a gray zone to a monitoring area, and this is true evidence that Iraq has achieved significant progress in enhancing financial inclusion and combating money laundering and terrorist financing," noting that "the need for legal legislation still exists, and we must move forward in training human cadres to keep pace with the rapid digital and technological transformation in the world."

Regarding the financial inclusion rates achieved by Iraq, Al-Handhal explained that, “according to international standards, the current financial inclusion rate in Iraq has exceeded 46% compared to previous years, which is a very significant progress with which we seek to achieve a rate of 90-95% in cooperation with the Central Bank in the near future. 

The Arab Monetary Fund is also very satisfied with this rate and is following the growth of the banking sector. It considers Iraq to be implementing financial inclusion through a sound mechanism that has contributed to Iraq’s progress in ranking ahead of other countries.”/End   https://ninanews.com/Website/News/Details?key=1238746