DINARRECAPS8 5/6/24 DINARRECAPS8 5/6/24

Goldilocks' Comments and Global Economic News Monday Evening 5-6-24

Good Evening Dinar Recaps,

"When gold is set free, so are we."

Let's take a close look at why that is. There is a strong belief that gold is no longer determined by economic prices on the market. A shift is occurring and China is in the middle of it.

Much of the gold prices as of late have been driven by the China Market buying up this particular precious metal. It is one of the requirements of the BRICS Nations in joining this alliance to trade goods and services with the backing of gold.

In other words, we have new price discoveries taking place attempting to reset the price of gold. The higher the price of gold goes, it has the ability to determine the price of the dollar going forward. When gold is the standard over the dollar, price discoveries on foreign currencies begin to shift.

Gold and the Dollar have a correlated relationship that is currently breaking down because of inflation, de-dollarization, and the purchase of gold by countries overseas.

Goldilocks' Comments and Global Economic News Monday Evening 5-6-24

Good Evening Dinar Recaps,

"When gold is set free, so are we."

Let's take a close look at why that is. There is a strong belief that gold is no longer determined by economic prices on the market. A shift is occurring and China is in the middle of it.

Much of the gold prices as of late have been driven by the China Market buying up this particular precious metal. It is one of the requirements of the BRICS Nations in joining this alliance to trade goods and services with the backing of gold.

In other words, we have new price discoveries taking place attempting to reset the price of gold. The higher the price of gold goes, it has the ability to determine the price of the dollar going forward. When gold is the standard over the dollar, price discoveries on foreign currencies begin to shift.

Gold and the Dollar have a correlated relationship that is currently breaking down because of inflation, de-dollarization, and the purchase of gold by countries overseas.

When the price pressures on gold becomes so great, it will require new formulations of values and a reset in gold will occur. All of our tokenized assets backed by gold, our stablecoins that represents a country's currencies backed by gold, and gold itself will be free to move into a real value.

These new values will be determined by supply and demand, and not, a predetermined price set to parallel a particular World Reserve Asset. This is when we have a reset.

Here is what the final moments look like...

Paper trades in gold and silver on the COMEX Market are stopped.

When trades in paper gold and paper silver in the Futures Market come to a halt, this will enable them to adjust spot prices on physical gold and physical silver.

A slight movement upward (manually done) occurs to encourage trade. This is done over and over again until the market recognizes the new determinations and price correlations.

This is where you see chart gaps happen in the market, and they have to be filled.

Once these gaps are filled and new movement forward on gold and silver are secured, we have a reset. This will reset everything. CME Group NY Times
Everything.

© Goldilocks

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New Bank merger guidelines

Pdf READ HERE

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Are Real-Time Payments Near an Inflection Point? BofA Thinks So | Payments

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Banking Intel:

Commercial Lenders (Relationship Managers) are currently receiving electronic messages to sign up for Foreign Currency Training. Street Directory Learn Study

© Goldilocks

👆 By the way, Commercial Lenders are having to report for foreign currency exchange training. It is not an option. It is a requirement.

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Building a User-Friendly Interface for Central Bank Digital Currency Applications: A Case Study | HackerNoon

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If Ripple is not a security, it is a commodity. A precious metal. And, you can currently get it for just over 50 cents.

Many of you have stated that you cannot afford precious metals. Well, you don't have an excuse now. Why would you wait for it to go up?

The case is expected to be finished in September 2024. What are you waiting for? This is not advice, but it is probably one you wished a year from now someone had given to you. Youtube

© Goldilocks

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Dinar Recaps 20 5/6/24 Dinar Recaps 20 5/6/24

“Tidbits From TNT” Monday 5-6-2024

TNT:

Tishwash: Signing a memorandum of understanding between the Trade Bank of Iraq and the Japanese International Development Agency

Today, Monday, the Ministry of Planning announced the signing of a memorandum of understanding between the Trade Bank of Iraq and the Japanese International Development Agency.

The ministry said in a statement received by the Iraqi News Agency (INA): “On behalf of the Prime Minister, Muhammad Shia al-Sudani, the Minister of Planning, Muhammad Ali Tamim, today sponsored the signing ceremony of a memorandum of understanding between the Iraqi Trade Bank and the Japanese Development Agency (JICA).”

The statement added, "The signing ceremony was attended by the Prime Minister's Advisor, Muhammad al-Daraji, the President of the Trade Bank of Iraq, and a number of officials in the Ministries of Foreign Affairs and Finance, while on the Japanese side it was attended by representatives of the Japanese Embassy in Iraq and the JICA Agency." link

TNT:

Tishwash: Signing a memorandum of understanding between the Trade Bank of Iraq and the Japanese International Development Agency

Today, Monday, the Ministry of Planning announced the signing of a memorandum of understanding between the Trade Bank of Iraq and the Japanese International Development Agency.

The ministry said in a statement received by the Iraqi News Agency (INA): “On behalf of the Prime Minister, Muhammad Shia al-Sudani, the Minister of Planning, Muhammad Ali Tamim, today sponsored the signing ceremony of a memorandum of understanding between the Iraqi Trade Bank and the Japanese Development Agency (JICA).”

The statement added, "The signing ceremony was attended by the Prime Minister's Advisor, Muhammad al-Daraji, the President of the Trade Bank of Iraq, and a number of officials in the Ministries of Foreign Affairs and Finance, while on the Japanese side it was attended by representatives of the Japanese Embassy in Iraq and the JICA Agency." link

CandyKisses: Sudani to visit Italy next week

BAGHDAD (NINA) - Political adviser to the Prime Minister Sebhan Mullah Jiyad has revealed a visit by Prime Minister Mohammed Shia al-Sudani to Italy next week.

Mullah Jiyad said in a statement to the official newspaper: "The Prime Minister will go to the Italian capital Rome on a two-day visit starting on the tenth of May," explaining that "this visit comes within the Iraqi diplomatic openness led by the Sudanese government, and linking it to the economic dimension."

He pointed out that "Iraq and Italy have many commonalities at the political and diplomatic levels, as well as interrelated interests at the economic level, as there are many Italian companies that have dealt and are dealing with Iraq, especially in industries related to the energy sectors, in addition to Italy's participation in the international coalition in the war against (ISIS) and its support for Iraq."

He stressed that "this visit comes within the direction to arrange the bilateral relationship between Iraq and the countries of the international coalition in preparation for scheduling its withdrawal from Iraq."

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CandyKisses: The launch of the conference of the Union of Arab Banks in Baghdad

Monday 06, May 2024

Baghdad / Nina / The activities of the Union of Arab Banks Conference, sponsored by the Central Bank of Iraq, were launched in the capital, Baghdad, under the title "Challenges facing Arab banks in complying with international laws and legislation and meeting the requirements of correspondent banks."

The two-day conference, which was held at the Babylon Hotel, was attended by Central Bank Governor Ali Al-Alaq, government and parliamentary figures, and a number of Arab banking and economic officials.

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Tishwash: Arab banks: Iraq supports the transition from dependence on oil revenues to a diversified economy

The Union of Arab Banks confirmed on Monday that the Iraqi government supports the country's transition from dependence on oil revenues to a successful diversified economy, while putting forward four proposals to enhance the compliance environment for Iraqi banks.

The Secretary-General of the Union of Arab Banks, Wissam Hassan, said during the conference “The Challenges Facing Arab Banks in Complying with International Laws and Legislation and Meeting the Requirements of Correspondent Banks,” held in Baghdad in the presence of a large number of Arab banking and economic officials, and attended by the correspondent of the Iraqi News Agency (INA): "Enhancing international confidence in Iraqi banks requires additional effort on multiple fronts, to enhance the compliance environment for Iraqi banks."

He pointed out, “There are four proposals to enhance the compliance environment in Iraqi banks. First, Iraqi banks must invest in a strong compliance infrastructure, and the second proposal is to adopt advanced technology, which leads to changing the rules of the game in the field of compliance, as there are many programs, including It relies on artificial intelligence, which helps in the compliance process and data analysis.”

He added, "The third proposal is to adopt the principle of transparency in banking operations and the preparation of financial reports, in order to build sustainable trust with the international community. The last and most important proposal, in our opinion, is to prepare a comprehensive national plan for capacity development, training and qualification, especially in the field of affiliation."

He continued, "Here the Union of Arab Banks proposes that a committee be established under the name of the National Capacity Development, Training and Qualification Committee, in cooperation between the Union of Arab Banks and the Association of Iraqi Private Banks and under the supervision of the Central Bank of Iraq, and its tasks will be training and qualifying Iraqi cadres and building capabilities in the subject of compliance and combating money laundering and terrorist financing." And combating corruption, to become what is called a certified director for combating financial crimes.”

He went on to say: "The committee's mission is also to provide consultation and technical support to develop and choose the special compliance program for each bank, in addition to forming an influence and communication force to develop Iraqi banks' relations with international banking and regulatory authorities, especially American ones, in addition to documenting policies, procedures and internal controls related to compliance for each bank." .

In turn, member of the Board of Directors of the Union of Arab Banks, Ziad Khalaf, said during the conference: “Compliance with international laws and legislation is not just a legal necessity, and not just an obligation, but rather an investment in confidence and economic stability, an investment that reflects our commitment to transparency and integrity, and our responsibility to ensure the protection of interests.” Finance, which is, in short, the basis of success and sustainability in mid-range businesses.”

He added, “If the Arab world wants to achieve integration and economic renaissance in the region, economists must recognize the historical moment in Iraq, which is the fourth largest economy in the Middle East and North Africa,” expressing his regret that “our Arab region is one of the least integrated regions in the world, as there is no Two-way trade represents only 18 percent of total trade, as well as of total exports.

He explained, "The Iraqi government today supports the country's transition from dependence on oil revenues to a diversified economy, as a single economy is fraught with risks, while a diversified economy is guaranteed success."

He pointed out that "activating the banking sector requires expanding electronic payment services and ensuring the granting of credit formations and loans by developing work mechanisms, including control and oversight, and enhancing their flexibility while adopting digital solutions, in addition to enhancing information security, combating fraud operations, and ensuring compliance with financial and banking legislation and laws," calling for "Enhancing cooperation in order to build strong foundations for sustainable growth in our Arab region link

Mot: .... Starting to Understand - I Is!!!

Mot: The RV plan (From Recaps Archives)

DINARRECAPS8 5/6/24 DINARRECAPS8 5/6/24

Iraq Economic News and Points to Ponder Sunday Evening 5-5-24

Revealing The Latest Developments In Changing The Exchange Rate And The Barrel Of Oil In The 2024 Budget

Economy| 02/05/2024 Mawazine News - Baghdad, Deputy Chairman of the Parliamentary Planning Committee, Muhammad Karim, confirmed today, Thursday, that the current year’s budget will proceed after completing the changes in its schedules for allocations for governorate and ministries projects only. Karim told Mawazine News,

“The exchange rate of the dollar, the barrel of oil, and the quantity exported will remain the same according to what was proven in last year’s budget.”

He pointed out that "the tripartite budget approved by the Sudanese government and approved by the House of Representatives allowed the government to make changes and amendments imposed by the impact after the parliament's vote."

He pointed out that "the changes to the schedules will include projects of ministries and governorates in accordance with the requirements of the government program." https://www.mawazin.net/Details.aspx?jimare=247191

Iraq Economic News and Points to Ponder Sunday Evening 5-5-24

Revealing The Latest Developments In Changing The Exchange Rate And The Barrel Of Oil In The 2024 Budget

“The exchange rate of the dollar, the barrel of oil, and the quantity exported will remain the same according to what was proven in last year’s budget.”

Savings And Financial Inclusion

Economical 05/06/2024 Muhammad Sharif Abu Maysam There is a close relationship between saving and financial inclusion, as

economies with good levels of saving are usually more

comprehensive,

stable, and

consistent in financial trades and exchanges,

growth rates, and the

ability to withstand shocks.

It seems that this relationship was an impetus for adopting the slogan

“Towards encouraging saving to enhance... Financial Inclusion” on the occasion of the Arab Financial Inclusion Day, which falls on April 27th every year.

Financial inclusion means providing financial services to all societal groups and encouraging them to open bank accounts, by

opening more bank branches in places far from city centers, and

introducing more payment systems and technologies that contribute to

reducing episodes of slackness in performance and

resoring confidence between the public and the banking sector.

This establishes the withdrawal of the cash mass stored in homes and other places of hoarding, and thus recycling it in credit operations and economic projects in order to support the business environment and address the problem of unemployment in the labor market and thus achieve sustainable development.

The banking sector in our country participates in financial inclusion activities that promote and open up to the public in public places, universities, and commercial centers, with the aim of encouraging the public to deal with the banking sector and increasing the proportion of transactions and transactions in the banking arena, thus achieving the highest levels of savings.

Such productive activities may have a degree of impact depending on the regions in which they are held, and complement what the relevant authorities are working for in the context of adopting electronic payment systems and protecting the public.

However, there are obstacles that need to be contemplated and reconsidered if we want to achieve positive results in the file.

Encouraging savings, and achieving the complementary relationship between financial inclusion and withdrawing the public’s accumulated cash mass, which the relevant authorities estimate at approximately 70 percent of the issued cash.

The first of these problems that need study and contemplation is the problem of the difference in the currency exchange rate, which prompts the public to buy foreign currencies as a safe haven. From exchange rate fluctuations,

solving this problem contributes significantly to creating trust between the public and banks, in addition to the possibility of raising the interest rate in light of the increase in government spending on service projects, which may result in an increase in inflation rates, and we believe that providing banking privileges to savers is the way.

It is appropriate to encourage saving, such as guaranteeing access to housing units for savers, especially children and young women, at half the price after ten or fifteen years of saving at certain rates, or offering a free marriage grant if these age groups continue saving for about a number of years. https://alsabaah.iq/96119-.html

To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/

Provoking Thoughts and Points to Ponder on Wealth

I have enough money to get by. I'm not independently wealthy, just independently lazy, I suppose. - Montgomery Clift

I have no complex about wealth. I have worked hard for my money, producing things people need. I believe that the able industrial leader who creates wealth and employment is more worthy of historical notice than politicians or soldiers. - Paul Getty

I was born into it and there was nothing I could do about it. It was there, like air or food, or any other element. The only question with wealth is what you do with it. - John D. Rockefeller

I wish to become rich, so that I can instruct the people and glorify honest poverty a little, like those kind-hearted, fat, benevolent people do. - Mark Twain

In big houses in which things are done properly, there is always the religious element. The diurnal cycle is observed with more feeling when there are servants to do the work. - Elizabeth Bowen

http://famousquotesandauthors.com/topics/wealth_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

DINARRECAPS8 5/5/24 DINARRECAPS8 5/5/24

Comments and Global Economic News Sunday Evening 5-5-24

Good Evening Dinar Recaps,

"Exchange gain of an individual from the disposition of foreign currency in a personal transaction is not taxable, provided that the gain realized does not exceed $200."

There you have it. So long as you do not profit more than $200 from your foreign currency exchange as an individual you do not have to pay taxes.

If you gain more than $200 on your transaction in a foreign currency exchange, you are expected to pay taxes on an individual level.

Below, you will see new regulations on Corporate gains and losses of foreign currency exchange that have been proposed and went into effect in February 2024 of this year.

This is not tax advice. It is merely education, as always, with anything said in this room for you to check out later with your CPA. PWC Answer Connect 1 Answer Connect 2 Answer Connect 3 RSM US Answer Connect 4 © Goldilocks

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Comments and Global Economic News Sunday Evening 5-5-24

Good Evening Dinar Recaps,

"Exchange gain of an individual from the disposition of foreign currency in a personal transaction is not taxable, provided that the gain realized does not exceed $200."

There you have it. So long as you do not profit more than $200 from your foreign currency exchange as an individual you do not have to pay taxes.

If you gain more than $200 on your transaction in a foreign currency exchange, you are expected to pay taxes on an individual level.

Below, you will see new regulations on Corporate gains and losses of foreign currency exchange that have been proposed and went into effect in February 2024 of this year.

This is not tax advice. It is merely education, as always, with anything said in this room for you to check out later with your CPA. PWC Answer Connect 1 Answer Connect 2 Answer Connect 3 RSM US Answer Connect 4

© Goldilocks

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Biden Administration Surrenders to China on Final EV Regulations, Weakens America’s Trade Policies - House Committee on Ways and Means

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Proposed Foreign Currency Regulations

READ HERE:

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How Forex Trades Are Taxed | Investopedia

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"If finalized, the regulations would generally be effective for taxpayers with tax years beginning on or after Jan. 1, 2025, which would end a decades-long administrative delay in the implementation of new rules. Affected taxpayers should assess their existing Section 987 methods and the potential impact of adopting the proposed regulations early."

Bottom line, please check with your CPA when you receive your money for the new laws that have been applied to foreign currency exchanges for individuals just this year.

It's better to be safe than sorry. New laws are coming into the books late last year and this year in foreign currency exchanges, and I just simply want you to not be penalized for something so many of us have waited so many years to receive.

And, if you are under a contract for this Exchange, you do not want to take the chance of having your funds clawed back. This is our only chance at this in this lifetime. Opportunities do not come like this very often.

These new regulations for foreign currency exchange could very well have been set for January 1, 2026, but it wasn't.

Are we hearing the need for foreign currency exchange regulations to be done and implemented by the first of the year in case there is a need to do something with them between now and then? Grant Thornton

© Goldilocks

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"The international group could create an alternative currency based on their national legal tenders, according to Alexey Mozhin FILE PHOTO. © Iliya Pitalev; Ria Novosti

The BRICS group of nations could offer an alternative currency in the event of a collapse of the dollar and the international monetary system, according to Russia’s executive director at the International Monetary Fund, Alexey Mozhin."

Do you ever wonder why the Dollar Act (HR 556) is currently in the legislative books just in case the above does happen? See the link below.

© Goldilocks

BRICS should be ready for dollar collapse | AZERBAYCAN24 Congress

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Hong Kong: Introducing Spot Crypto Trading | Global Finance Magazine
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Iraq seeks more investors for mega rail project | Zawya

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DINARRECAPS8 5/5/24 DINARRECAPS8 5/5/24

Iraq Economic News and Points to Ponder Sunday Afternoon 5-5-24

A New Decline In The Exchange Rate.. The Dinar Slaps The Dollar

Economy | 05/05/2024 Mawazine News – Baghdad The prices of the US dollar closed lower against the Iraqi dinar, today, Sunday, in Baghdad.

Dollar prices recorded a decline with the closure of the main Kifah and Harthiya stock exchanges in Baghdad, recording 145,250 Iraqi dinars per 100 dollars, while dollar prices this morning recorded 145,650 Iraqi dinars per 100 dollars.

Selling prices in the field of banking in the local markets in Baghdad decreased, as the selling price reached 146,250 Iraqi dinars per 100 dollars, while the purchase price reached 144,250 Iraqi dinars per 100 dollars.

Al-Hakim To Plasschaert: The Current State Of Stability In Iraq Must Be Exploited

Political | - 05/05/2024 Mawazine News – Baghdad The head of the Al-Hikma Movement, Ammar Al-Hakim, stressed today, Sunday, the necessity of investing in the current state of stability in Iraq, while noting that the country is proposing development projects throughout the region and seeks to engage common interests.

Iraq Economic News and Points to Ponder Sunday Afternoon 5-5-24

A New Decline In The Exchange Rate.. The Dinar Slaps The Dollar

Economy | 05/05/2024 Mawazine News – Baghdad The prices of the US dollar closed lower against the Iraqi dinar, today, Sunday, in Baghdad.

Al-Hakim To Plasschaert: The Current State Of Stability In Iraq Must Be Exploited

Al-Hakim said in a statement received by Mawazine News, “Today we received the representative of the Secretary-General of the United Nations in Iraq, Jeanine Plasschaert, near the end of her mission in Baghdad, where we praised the efforts of the United Nations organization in the past stage, and made clear that the current state of stability that the country is witnessing must be invested in a manner that "It enhances the interests of Iraq and the interests of its partners in the region."

He added, "The world has begun to change in its approach to the Iraqi issue, and we said that the previous reading was disturbing stability in the region, while the current reading is that the security of the region is the security of Iraq," calling for "reading history and standing at its decisive points."

He stressed, "Iraq proposes development projects for the entire region and seeks to intertwine interests and transform conflict into networking, cooperation and collaboration," pointing out that "the path of development is the best witness to Iraq's development vision for itself and for the region." https://www.mawazin.net/Details.aspx?jimare=247352

World Bank: Reliance On Oil Will Expose Iraq To Macroeconomic Fluctuations

Economy Saturday, May 4, 2024 9:21 AM Follow-up/National News Center

The Iraqi economy is expected to return to growth in 2024 at a rate of 1.4%, compared to a contraction of 2.2% in 2023, with the growth rate next year jumping to 5.3%, according to data from the latest IMF report on global economic prospects issued this month.

The contraction in Iraq's GDP last year comes despite a strong return to growth in the non-oil sector, recording 6%, with inflation receding, according to Fund estimates.

According to the statement of the IMF mission to conduct Article IV consultations, last March, the Fund expects that overall growth will rise again in 2024, with the momentum of non-oil growth continuing during the year, while risks tend towards an increase amid increasing uncertainty.

This comes while the Fund expects, in the medium term, that non-oil growth will stabilize at around 2.5% due to the obstacles that limit the development of the private sector.

Iraq is one of the countries most dependent on oil in the world, and oil revenues accounted for more than 99% of its exports, 85% of its government budget, and 42% of its gross domestic product over the past decade, according to World Bank data.

The World Bank believes that this excessive dependence on oil exposes the country to macroeconomic fluctuations, while budgetary rigidities restrict the available spending space in public finances, and limit any opportunity to develop policies to counter cyclical fluctuations.

The balance of public finances went from a surplus of 10.8% of GDP in 2022, to a deficit of 1.3% in 2023.

This is due to a decrease in oil revenues and an increase in spending by 8% of GDP, which contributed to the increase in salaries. Contractual pensions are 5%, according to the IMF.

The Fund expects the public finance deficit to reach 7.6% of GDP in 2024, in the absence of new policy measures, and to expand further after that with the expected gradual decline in oil prices in the medium term.

The increase in the public finance deficit will result in a nearly doubling of public debt from 44% of GDP in 2023 to 86% of GDP by 2029, according to Fund estimates.

Expectations that the current account will turn into a deficit

The IMF estimates the current account surplus at 2.6% of GDP at the end of last year, expecting it to turn into a deficit by 3.6% during 2024, and for this deficit to expand to 5.1%.

Indicators have improved:

Overall inflation declined from 7.5% in January 2023 to 4% by the end of last year, according to IMF estimates, which reflected the decline in food and energy prices at the international level, and the impact of the currency revaluation process. Iraq in February 2023.

The International Monetary Fund expects the inflation rate to stabilize at 4%, whether as an average for the year or as a level by the end of the year during the years 2024 and 2025.

The Fund also estimates that international reserves will rise to 112 billion US dollars by the end of 2023, compared to about 97 billion dollars at the end of 2022.

The Iraqi government reduced external debt from 19.729 billion dollars in 2022 to 15.976 billion dollars in 2023, according to what was reported by the official Iraqi News Agency. According to Iraqi government spokesman Bassem Al-Awadi, this April.

Al-Awadi said that the government took a series of executive measures and adopted a package of financial decisions, which resulted in reducing the external public debt by more than 50%, bringing the debt down from $19.729 billion at the end of 2022, to $15.976 billion in 2023, reaching $19.729 billion in late 2022. Approximately $8.9 billion this year.

Other steps for a greater role for the non-oil sector

The IMF believes that reducing the level of dependence on oil, and ensuring financial sustainability, while at the same time working to protect the very important social and investment spending, will require a major adjustment to public financial conditions, based on controlling the public finance bill. Public sector wages and increased non-oil revenues.

In parallel, the situation will require achieving high economic growth to absorb the rapidly growing workforce, boost non-oil exports, and expand the tax base.

The IMF believes that there is a need to implement an ambitious adjustment to public financial conditions, to help stabilize debt in the medium term, and rebuild protective safety margins for public finances, while maintaining necessary capital spending.

Most aspects of controlling public finances come from reducing current spending, especially controlling the wage bill by reducing mandatory appointments, and from working to gradually implement the rule of natural attrition for workers in the public sector.

The Fund indicated the need to increase non-oil revenues by expanding the income tax base on individuals, making it more progressive, reviewing the customs tariff structure, and considering imposing new taxes on luxury items.

The Fund also believes that there is a need to undertake broad structural reforms to enhance private sector development and economic diversification.

He explained that Iraq needs to raise growth rates in the non-oil sector in a sustainable manner to accommodate the rapidly increasing workforce, and to increase non-oil exports and government revenues, in addition to reducing the economy’s exposure to oil price shocks.

The Iraqi Prime Minister, Muhammad Shiaa Al-Sudani, said last January that his country had set a goal in a three-year budget to reduce dependence on oil revenues from 95% to 80%, in a discussion session at the World Economic Forum in Davos. https://nnciraq.com/254947/

The Central Bank Sold More Than A Quarter Of A Billion Dollars In The Currency Auction Today

Sunday 05, May 2024 15:54 | Economical Number of readings: 108 Baghdad / NINA / The Central Bank of Iraq’s dollar sales amounted to more than 276 million dollars on Sunday at the currency auction.

A statement from him explained that the bank sold in its auction today 276 million and 568 thousand and 264 dollars, which it covered at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar in cash.

He added that most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 264 million 748 thousand and 264 dollars, an increase of 94% over cash sales amounting to 11 million and 820 thousand dollars.

He explained that the number of banks that purchased cash dollars reached 4 banks, while the number of banks that responded to requests to enhance balances abroad reached 17 banks, and the total number of exchange and brokerage companies participating in the auction was 30 companies./ https://ninanews.com/Website/News/Details?key=1124791

Within A Week...More Than One Billion Dollars In Sales From The Central Bank Of Iraq

Economy | 04/05/2024 Mawazine News – Baghdad The Central Bank of Iraq's total sales of hard currency for the US dollar amounted to more than one billion dollars during the period in which the auction was opened last week.

During the past week and for the week-day period in which the auction was opened, the Central Bank sold 1 billion 348 million 235 thousand 509 dollars, at a daily rate of 276 million 847 million 19 dollars, lower than what it recorded last week, which amounted to 1 billion 354 million 297 thousand 9 dollars.

The highest dollar sales were on Wednesday, when sales amounted to 282 million, 624 thousand and 465 dollars, while the lowest sales were on Sunday, when sales amounted to 270 million, 897 thousand and 422 dollars.

It is noteworthy that sales of foreign remittances during the past week amounted to 1 billion, 317 million and 475 thousand dollars, an increase of 95% compared to cash sales, which amounted to 66 million and 760 thousand dollars.

The sales went in the form of cash and transfers abroad to finance foreign trade, while the selling price of documentary credits and international settlements for electronic cards reached 1,305 dinars per dollar, while the selling price of transfers abroad and the cash selling price reached 1,310 dinars per dollar. https://www.mawazin.net/Details.aspx?jimare=247277

To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/

Provoking Thoughts and Points to Ponder on Wealth

Australia is so kind that, just tickle her with a hoe, and she laughs with a harvest. - Douglas Jerrold

It is better to live rich than to die rich. - Samuel Johnson

We can have democracy in this country or we can have great wealth concentrated in the hands of a few, but we can't have both. - Louis D. Brandeis

I am opposed to millionaires, but it would be dangerous to offer me the position. - Mark Twain

Sleep, riches and health to be truly enjoyed must be interrupted. - Jean Paul Richter

The wealth of a nation consists not in its mass of material things, but in its system. The natural resources of South America are not inferior to those of the United States, but the wealth of the two regions is vastly different. The land of India is far richer than that of Japan, but the comparative wealth of the two nations is reversed. - George Brockway

http://famousquotesandauthors.com/topics/wealth_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Dinar Recaps 20 5/5/24 Dinar Recaps 20 5/5/24

“Tidbits From TNT” Sunday 5-5-2024

TNT:

Tishwash: Al-Rafidain Bank announces the implementation of the comprehensive banking system in its branches in Karbala and Mosul

Al-Rafidain Bank announced, this evening, Saturday, the implementation of the comprehensive banking system in its Hindiya branches in Holy Karbala and Ashur in Mosul.

A statement from the bank, a copy of which {Al-Furat News} received, stated: “To join the branches that have activated the comprehensive system in Baghdad and the governorates, in addition to the branches of the border crossings (Zurbatiyah - Safwan - Arar - Trebil) in an important step to leave the paper work and move completely towards... Electronic transformation. The bank confirmed, “The plan for digital transformation and adoption of the comprehensive banking system is proceeding according to the set timings to include all branches of the bank in implementing the system, especially since one of the priorities and adoptions of the government program is electronic transformation in financial transactions, reducing episodes of red tape for citizens, and reducing time and effort in completing citizens’ transactions.” link

TNT:

Tishwash: Al-Rafidain Bank announces the implementation of the comprehensive banking system in its branches in Karbala and Mosul

Al-Rafidain Bank announced, this evening, Saturday, the implementation of the comprehensive banking system in its Hindiya branches in Holy Karbala and Ashur in Mosul.

A statement from the bank, a copy of which {Al-Furat News} received, stated: “To join the branches that have activated the comprehensive system in Baghdad and the governorates, in addition to the branches of the border crossings (Zurbatiyah - Safwan - Arar - Trebil) in an important step to leave the paper work and move completely towards... Electronic transformation.

The bank confirmed, “The plan for digital transformation and adoption of the comprehensive banking system is proceeding according to the set timings to include all branches of the bank in implementing the system, especially since one of the priorities and adoptions of the government program is electronic transformation in financial transactions, reducing episodes of red tape for citizens, and reducing time and effort in completing citizens’ transactions.” link

Tishwash: Advisor to the Prime Minister: Iraq is a fertile environment for projects, and there is an expansion of investor desires

INA Advisor to the Prime Minister for Investment Affairs and Head of the Iraq Fund for Development, Muhammad Al-Najjar, confirmed today, Saturday, that Iraq is a fertile environment for projects and there is an expansion of investors’ desires to enter it.

Al-Najjar told the Iraqi News Agency (INA): “The government has taken an approach that has intensified efforts to invite many countries and companies to invest in Iraq, and Prime Minister Muhammad Shiaa Al-Sudani is taking advantage of his foreign tours, the most recent of which is his participation in the World Economic Forum in Saudi Arabia, with great work and activity to support investment in Iraq by inviting companies.” To enter Iraq.

He added, "The economic forum in Riyadh, which was held recently, was attended by a large number of decision-makers from companies and countries that will have a clear role in entering Iraq," noting, "Iraq in the forum focused on 3 main topics, which are energy, agriculture, and information technology." .

He pointed out that "the Prime Minister's visit during his participation in the forum held in Riyadh included political meetings and many economic files were raised," noting that "Iraq has begun to compete with many countries of the world by inviting investors to come to the country."

He pointed out that "Iraq It has large investment opportunities amounting to $450 billion allocated to projects that need marketing in order to attract capital.
He stated, “There is a strong desire from Saudi investors to enter and expand their work in Iraq,” explaining, “The large Iraqi market is full of opportunities, especially in the field of industry, and Arab and international companies can establish factories in the country.”

He continued, "Iraq is a country fertile with investment opportunities and has begun to gradually rise on the economic map among countries in light of the current government's continuous work to improve the economic and investment situation." . link

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Tishwash: To reach an agreement on 10 memorandums...the start of the meetings of the sixth session of the Iraqi-Iranian committee in Tehran

Today, Sunday (May 5, 2024), the Ministry of Commerce announced the start of the meetings of the sixth session of the Iraqi-Iranian Committee in Tehran.

The ministry’s media stated in a statement received by “Baghdad Today” that “the meetings of the sixth session of the joint Iraqi-Iranian committee began in the Iranian capital, Tehran, which is headed by the Iraqi side, Minister of Commerce Atheer Daoud Al-Ghurairi, to discuss strengthening economic and trade relations and understanding the ten joint memorandums of understanding that the two sides intend to sign.” in various fields and in a manner that serves their common interests.”

He explained, "The committee's work will continue over the fifth and sixth days of this month of May, as today the discussions of the specialized committees will take place, in the presence of members of the delegations of both sides, to reach the final joint report, at the headquarters of the Iranian Ministry of Economy and Finance."

The statement indicated that "the specialized committees included the Commercial, Industrial, Agricultural, Standardization and Quality Control Committee, the Energy Committee, the Financial, Banking, Investment and Insurance Committee, the Shipping, Transport and Customs Committee, and the Scientific and Educational Consulate Committee, Tourism, Health and Sports". link

Mot: .. Boat fer Sail! - Recently reupholstered

Mot: Whats cookin…..

Dinar Recaps 20 5/5/24 Dinar Recaps 20 5/5/24

MilitiaMan: Iraq Dinar- IQD Update - No Float of Exchange Rate - Budget -2024 - Schedules - Salary Pay - In Days

Iraq Dinar- IQD Update - No Float of Exchange Rate - Budget -2024 - Schedules - Salary Pay - In Days

MilitiaMan and Crew: 5-4-2024

The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

Iraq Dinar- IQD Update - No Float of Exchange Rate - Budget -2024 - Schedules - Salary Pay - In Days

MilitiaMan and Crew: 5-4-2024

The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=TzdxjPbRe5c

DINARRECAPS8 5/4/24 DINARRECAPS8 5/4/24

Goldilocks' Comments and Global Economic News Saturday Evening 5-4-24

Goldilocks' Comments and Global Economic News Saturday Evening 5-4-24 Good Evening Dinar Recaps,

"The International Organization of Securities Commissions has also laid out its 18 recommendations for global rules on managing crypto and digital assets.

The World Economic Forum’s Pathways to the Regulation of Crypto-Assets details key regulatory developments over the past few years.

The Forum is actively working on the Digital Assets Regulatory (DAR) initiative, which analyzes outcomes of different national approaches to digital asset regulation." Let's take this one step at a time my friends.

I know so many have been hyped up by leaders pushing agendas that do not exist. When we look at the reality of what is taking place and slow down, we realize that nothing can stop what's happening because movement backward at this point is no longer an option.

Once our cryptocurrencies are fully regulated and become law, we still have Credit Valuation Adjustments that have to take place on the markets. You cannot pull these CVAs out of thin air.

Goldilocks' Comments and Global Economic News Saturday Evening 5-4-24

Good Evening Dinar Recaps,

"The International Organization of Securities Commissions has also laid out its 18 recommendations for global rules on managing crypto and digital assets.

The World Economic Forum’s Pathways to the Regulation of Crypto-Assets details key regulatory developments over the past few years.

The Forum is actively working on the Digital Assets Regulatory (DAR) initiative, which analyzes outcomes of different national approaches to digital asset regulation."

Let's take this one step at a time my friends. I know so many have been hyped up by leaders pushing agendas that do not exist. When we look at the reality of what is taking place and slow down, we realize that nothing can stop what's happening because movement backward at this point is no longer an option.

Once our cryptocurrencies are fully regulated and become law, we still have Credit Valuation Adjustments that have to take place on the markets. You cannot pull these CVAs out of thin air.

These numbers come from live experiences formulating new correlations on the market based upon real demands and real supply numbers that have actual predetermined and defined actions that can be moved on the QFS.

Real World Assets based on real values in the new digital economy that are placed on Banking and Market protocols will give us standardized procedures giving us the same result Time after Time after Time.

This will eliminate room for error that has often been the place where currency manipulations have been abused. When the QFS is finished, those games are over.

Remember, the adoption of the new digital economy and their new pricing mechanisms will emerge first, I will try to update you as much as I can on these new shifts in our economy, but I am telling you they are coming fast.

We will go over the basics and overall picture in this room without going into details that oftentimes confuse many people. Let's leave the details to the technicians, and let us pray a word of gratitude for the work they are doing to change our world.

From what I can see, it is a change for the better in so many ways. We are living through a world in transition, and you may find yourself changing with it in ways you do not always notice.

If you are living in this day and age, you were meant to do so. Please take the time to understand the world you are living in going forward. It will keep you from being lost in a world that was meant and designed to provide you with a huge blessing.

Please be open to change, and even, changing your own preconceived ideas based upon previous knowledge that has either been changed or designed to misinform you. European Sting

(https://www.weforum.org/publications/pathways-to-crypto-asset-regulation-a-global-approach/)

Just know, that the road ahead was never promised to be an easy one, but it was meant to be worth it.

© Goldilocks

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URGENT NEWS Old News Yet Urgent CBI Meeting | Youtube

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Iraqi Ministry of Oil exports first shipment of Propane gas - Shafaq News

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Central Banks Buy Record Gold Bullion Tonnage Q1 2024 | Youtube

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Which Industries Lost Jobs, Which Gained Jobs: Longer-Term Employment Trends in Charts | Wolf Street

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The Institutions Are Coming: The Dawn Of A New Era At This Year’s MicroStrategy World — Bitcoin For Corporations Conference - Bitcoin Magazine

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A floating rate is determined by the open market through supply and demand on global currency markets.

"Leveling the playing field" in all currencies does not mean they will all be the same price.

Therefore, if the demand for the currency is high, the value will increase. If demand is low, this will drive that currency price lower. Investopedia

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Top 5 Precious Metals Companies of 2024 | GoldiraHoldings
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TONIGHT on Saturday Night Live Call, Freedom Fighter and Jester will break down Goldilocks Posts from this past week.

9 pm EDT / 8 pm CDT / 6 pm PDT

JOIN the call HERE

Ask Questions to be answered on the call HERE starting at 8 pm ET.

~~~~~~~~~

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Thank you Dinar Recaps

DINARRECAPS8 5/4/24 DINARRECAPS8 5/4/24

Iraqi News Highlights and Points to Ponder Saturday AM 5-4-24

Economic: The Fixed Dollar Exchange Rate Depletes Iraq's Foreign Currency Reserves

Manar Al-Obaidi Money and business Economist Manar Al-Obaidi confirmed that the fixed dollar exchange rate adopted by Iraq depletes the country's foreign currency reserves.

Al-Obaidi said, “The only thing that is completely under the control of the Iraqi state is the exchange rate, which forcefully drains all foreign reserves to maintain an imaginary fixed price that traders benefit from to increase their profit margin.”

He added, "I never called for following a free-float policy. Rather, I called for a start to follow a compensation policy managed with a small volatility factor and gradually work to increase it until complete liberalization is reached."

He continued, “The alternative to maintaining the fixed exchange rate is to continue depleting the reserves until they run out and the oil market is exposed to very expected future fluctuations. Then, will we be forced, not given the choice, to an absolute floatation of the currency or a shocking reduction in the exchange rate, as happened in 2020, and then the risks will be greater and greater?”

Iraqi News Highlights and Points to Ponder Saturday AM 5-4-24

Economic: The Fixed Dollar Exchange Rate Depletes Iraq's Foreign Currency Reserves

Manar Al-Obaidi Money and business Economist Manar Al-Obaidi confirmed that the fixed dollar exchange rate adopted by Iraq depletes the country's foreign currency reserves.

Views 26 05/03/2024 https://hathalyoum.net/

World Bank: Dependence On Oil Will Expose Iraq To Macroeconomic Fluctuations

Economy 2024-05-04 Today's News – Baghdad The Iraqi economy is expected to return to growth in 2024 at a rate of 1.4%, compared to a contraction of 2.2% during the year 2023, with the growth rate next year jumping to 5.3%, according to data from the latest IMF report on global economic prospects issued this month. .

The contraction in Iraq's GDP last year comes despite a strong return to growth in the non-oil sector, recording 6%, with inflation receding, according to Fund estimates.

This comes while the Fund expects, in the medium term, that non-oil growth will stabilize at around 2.5% due to the obstacles that limit the development of the private sector.

The World Bank believes that this excessive dependence on oil exposes the country to macroeconomic fluctuations, while budgetary rigidities restrict the available spending space in public finances and limit any opportunity to develop policies to counter cyclical fluctuations.

The public finance balance shifted from a surplus of 10.8% of GDP in 2022, to a deficit of 1.3% in 2023.

This is due to a decrease in oil revenues and an increase in spending by 8% of GDP, to which contractual salaries and pensions contributed. By 5%, according to the IMF.

The increase in the public finance deficit will result in a nearly doubling of public debt from 44% of GDP in 2023 to 86% of GDP by 2029, according to Fund estimates.

Expectations that the current account will turn into a deficit.

The IMF estimates the current account surplus at 2.6% of GDP at the end of last year, expecting it to turn into a deficit by 3.6% during 2024, and for this deficit to expand to 5.1%.

Indicators have improved:

Overall inflation declined from the level of 7.5% in January 2023, to 4% by the end of last year, according to IMF estimates, which reflected the decline in food and energy prices at the international level, and the impact that the process of revaluing the price of the Iraqi currency had on February 2023.

The International Monetary Fund expects the inflation rate to stabilize at 4%, whether as an average for the year or as a level by the end of the year during the years 2024 and 2025.

The Fund also estimates that international reserves will rise to 112 billion US dollars by the end of 2023, compared to about 97 billion dollars at the end of 2022.

The Iraqi government reduced external debt from $19.729 billion in 2022 to $15.976 billion in 2023, according to what the official Iraqi News Agency reported from Iraqi government spokesman Bassem Al-Awadi, this April.

Other steps for a greater role for the non-oil sector.

The IMF believes that reducing the level of dependence on oil, and ensuring financial sustainability, while at the same time working to protect the very important social and investment spending, will require a major adjustment to public financial conditions, centered on controlling the sector’s wage bill. Overall, increasing non-oil revenues.

In parallel, the situation will require high economic growth to accommodate the rapidly growing workforce, boost non-oil exports, and expand the tax base.

Most aspects of consolidating public finances come from reducing current spending, especially controlling the wage bill by reducing mandatory appointments, and from working to gradually implement the rule of natural attrition for workers in the public sector.

The Fund also believes that there is a need to undertake broad structural reforms to enhance private sector development and economic diversification.

Expert Al-Tamimi: Preparing And Amending The Tripartite Budget Must Be Done With The Approval Of The House Of Representatives

May 4, 2024 Baghdad/Al-Masala Al-Hadath: Legal expert Ali Al-Tamimi explained on Saturday that preparing a medium-term budget for a period of 3 years is presented once and with the approval of the House of Representatives.

Al-Tamimi said: The annual budget begins on 1/1 and ends on 12/31 of the same year, and the Federal Ministry of Finance has the right to prepare a medium-term budget for a period of three years that is presented once and legislated, and the first year is obligatory, and the Council of Ministers has the right, based on a proposal from the Ministries of Planning and Finance, to amend it. For the second and third years, with the approval of the House of Representatives.” https://almasalah.com/archives/90236

Al-Sudani: Iraq Is Moving Today To The Stage Of Revitalizing The Economy And Consolidating Sovereignty

Policy 2024-05-03 Today's News – Baghdad Prime Minister Muhammad Shiaa Al-Sudani confirmed, on Friday, that Iraq is moving today to the stage of production, moving the economy, creating job opportunities, facing challenges, and consolidating sovereignty, indicating that everyone bears the task of enforcing the law and building the edifice of justice, equality, and institutional stability.

Al-Sudani's office stated in a statement received by Al-Youm Al-Akhbariya, that "Prime Minister Muhammad Shia' Al-Sudani attended, this Friday morning, the celebration held in the capital, Baghdad, on the occasion of the anniversary of the founding of the Asaib Ahl al-Haq movement."

In a speech he delivered during the ceremony, Al-Sudani praised the anniversary of the founding of the movement, its path in national jihad work, and the constellation it presented of the struggling group of martyrs who valiantly fought terrorism.

Al-Sudani said, "The Asa'ib movement is contributing today to supporting the state's path after it confronted the terrorist ISIS gangs yesterday," stressing that "the entire world has witnessed the Iraqis' sacrifices of their armed forces in all their names, including the Popular Mobilization Forces and their mujahideen."

He added: "The government, supported by broad parliamentary and popular will, is moving towards achieving sustainable development."

He continued: “Our country is moving today to the stage of production, building infrastructure, stimulating the economy, creating job opportunities, confronting challenges, and consolidating sovereignty,” adding: “We all bear the task of enforcing the law, and building the edifice of justice, equality, and institutional stability.”

He pointed out that "there is no alternative to upholding the state's word and protecting the constitution, and our success is best in fulfillment of the blood of the martyrs," stressing that "those who have tasted the scourge of persecution and suffered from the fire of dictatorship are more deserving of national action to consolidate sovereignty and preserve their constitutional governmental institutions." https://today-agency.net/Details/9323#hathalyoum

Provoking Thoughts and Points to Ponder on Wealth

He that maketh haste to be rich shall not be innocent. - Bible

I glory more in the coming purchase of my wealth than in the glad possession.- Ben Jonson

I'll fares the land, to hastening ills of prey Where wealth accumulates, and men decay. - Oliver Goldsmith

It is the wretchedness of being rich that you have to live with rich people. - Logan Pearsall Smith

One cannot both feast and become rich. - Ashanti proverb

Poor men seek meat for their stomach, rich men stomach for their meat. - Old saying

Riches serve a wise man but command a fool. - Old saying

The first wealth is health. - Ralph Waldo Emerson

The smell of profit is clean and sweet, whatever the source. - Juvenal

There are few sorrows, however poignant, in which a good income is of no avail. - Logan Pearsall Smith

The human race has had long experience and a fine tradition in surviving adversity. But we now face a task for which we have little experience, the task of surviving prosperity. - Alan Gregg

Riches enlarge, rather than satisfy appetites.- Thomas Fuller

http://famousquotesandauthors.com/topics/wealth_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Dinar Recaps 20 5/4/24 Dinar Recaps 20 5/4/24

“Tidbits From TNT” Saturday 5-4-2024

TNT:

Tishwash: American newspaper: The United Nations is “collapsing” and three countries lead a move to form a “new world order”

The American newspaper The Cradle revealed, in an analysis published today, Friday (May 3, 2024), the existence of what it described as “major movements” being undertaken by three countries to “secure the future of the world” with the imminent expected collapse of the United Nations system as a result of the influence exercised by the United States. On the United Nations and the subsequent “destruction” that befell the world.

The newspaper said, according to what “Baghdad Today” translated, that China, Iran and Russia are now making actual and unprecedented moves to create a “new world order” based on the BRICS economic system, as an alternative to the American-Western SWIFT system, with the aim of securing the world from the possible collapse of the economic system as a result of... “Corruption” of the United Nations and the influence of the United States on its decisions.

TNT:

Tishwash: American newspaper: The United Nations is “collapsing” and three countries lead a move to form a “new world order”

The American newspaper The Cradle revealed, in an analysis published today, Friday (May 3, 2024), the existence of what it described as “major movements” being undertaken by three countries to “secure the future of the world” with the imminent expected collapse of the United Nations system as a result of the influence exercised by the United States. On the United Nations and the subsequent “destruction” that befell the world.

The newspaper said, according to what “Baghdad Today” translated, that China, Iran and Russia are now making actual and unprecedented moves to create a “new world order” based on the BRICS economic system, as an alternative to the American-Western SWIFT system, with the aim of securing the world from the possible collapse of the economic system as a result of... “Corruption” of the United Nations and the influence of the United States on its decisions.

She continued, "Russia hosted UNRWA and provided it with economic support to continue funding humanitarian efforts in Palestine after attempts by Israel and America to stop its funding. China and Iran also followed Russia's steps by hosting Palestinian parties in ongoing efforts to unify them towards establishing an official Palestinian state."

The newspaper confirmed that the old world order is now “collapsing” under “the weight of the corruption of the United Nations and the United States’ complete control over its decisions without concern for the rest of the world’s countries, including the continued support and protection of the Israeli regime, which prompted the three countries to move to establish a new system that protects the world from regimes and leaders.” Genocide and their control,” according to her description.

The United States, according to the newspaper’s description, is “now losing” its influence to China, which is now “questioning the United States and its ability publicly through the international level, such as questioning it regarding its insistence on preventing the establishment of a Palestinian state and its silence regarding the genocide committed publicly by Israel, in addition to the terrorist attack on Nord Stream transmission line in Europe.

The American Cradle announced that the BRICS system will soon become the “new United Nations” in the world, which will make the United States and its Western allies lose control over the current international system that relies on the United Nations, explaining, “What is also happening is that China, after officially condemning the Israeli attack on the Iranian embassy in... Damascus has become close to Tehran following the rapprochement that took place last year with Moscow, as the three countries apparently agreed on an alliance formula based on providing mutual benefit by providing each other’s needs to secure the future of the world away from the United Nations and its corruption.

The American newspaper also announced an expected visit by Russian President Vladimir Putin to the Chinese capital, Beijing, next month, where an agreement will be made to activate “the new world order on which the idea of the BRICS economic system was based,” where the two parties will agree with Iran on a “unified position” on establishing... “A new global security order is based on the position towards the Palestinian issue and the genocide committed by Israel, which for the West, which supports Israel in any case, is still something far from being described as genocide,” she said.

The newspaper also pointed out that the United States, which had previously issued “threats of a tsunami wave of sanctions” against China if it implemented its idea to establish a new global security system based on the BRICS economic system as an alternative to the United Nations, is now facing a union between the three major countries and their “civilizations.”

The ancient countries and their enormous economic and industrial capabilities,” and the countries of Asia and the Global South, something that realistically threatens, as Washington realizes, its “hegemony” at the international level through the entirely Western-oriented United Nations.

The analysis issued by the newspaper expected that the three countries would succeed in establishing their new world order with the imminent collapse of the SWIFT economic system and the loss of the United Nations’ credibility before the countries of the world after its “complete submission” to the desires of the Americans and Israel and the decisions of the “genocidal regimes,” in reference to the major Western countries and their continued support. For Israel, it is expected that by the end of this year the world will witness the emergence of a “new United Nations” whose center of power will be in the East and South of the world, instead of in the West. link

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Tishwash: Al-Sudani: We are working to create job opportunities

Prime Minister, Muhammad Shiaa Al-Sudani, said that Iraq has begun to move to the stage of production and infrastructure construction.

Al-Sudani added that the government is working to stimulate the economy, create job opportunities, confront challenges, and consolidate sovereignty link

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CandyKisses: Among them is Iraq. US oil imports from 5 Arab countries exceed $ 3.6 billion

Economy News - Follow-up

U.S. oil imports declined slightly in the first quarter of 2024, with five Arab countries, led by Saudi Arabia and Iraq, accounting for a share of nearly 8% of the world's largest oil consumer imports.

US crude oil imports amounted to about 572.29 million barrels (6.28 million barrels per day) during the first quarter of 2024, compared to 574.25 million barrels (6.38 million barrels per day) during the same period in 2023, according to recent data seen by the Energy Research Unit (based in Washington).

While the volume of US oil imports from Saudi Arabia, Iraq, Libya, Kuwait and the UAE reached about 45.2 million barrels during the first quarter of 2024, representing 7.9% of the total US imports during the first 3 months of this year.

The value of US imports from the 5 Arab countries reached about $ 3.68 billion during the first quarter of 2024, according to data collected and analyzed by the Energy Research Unit.

U.S. Oil Imports from Arab Countries

Saudi Arabia, as usual, came in first place in the list of the largest Arab oil exporters to the United States, with the volume of its exports reaching 25.43 million barrels during the first quarter of 2024, with a total value of $ 2.13 billion.

Iraq also ranked second with an export volume of 13.37 million barrels, or the equivalent of $ 1.02 billion, and Libya ranked third with exports reaching 3.67 million barrels, with a total value of $ 318.4 million.

The value of US oil imports from 5 Arab countries in the first quarter of 2024

On the other hand, Kuwait ranked fourth on the list, with exports to the United States amounting to about 1.74 million barrels during the first quarter of 2024, with a value equivalent to $ 126.5 million.

The UAE came in fifth place with exports of 0.99 million barrels during the first quarter, or about $81 million, according to the latest data from the U.S. Census Bureau.

The exports of the 5 Arab countries to the United States recorded 235 million barrels, or the equivalent of $ 19 billion, during 2023, equivalent to 10.1% of America's total imports of crude oil, according to annual data collected published by the Energy Research Unit on February 8.

Arab Oil Exports in March 2024

US oil imports from Saudi Arabia, Kuwait, the United Arab Emirates and Libya increased during March 2024, compared to the previous month (February), while imports from Iraq decreased.

The volume of Saudi oil exports to the United States rose to 9.82 million barrels in March 2024, compared to about 6.56 million barrels in February.

Libyan oil exports also rose to 2.06 million barrels during March 2024, compared to about 0.91 million barrels during the previous month.

The following graph - prepared by the Energy Research Unit - shows the volume of US oil imports from 5 Arab countries in the first quarter of 2024:

The volume of US oil imports from 5 Arab countries in the first quarter of 2024

Kuwait's exports to the United States also increased to 0.96 million barrels in March, after its absence from exports during the previous month, which was repeated in the case of the UAE, whose exports in March amounted to about 0.99 million barrels compared to zero in February 2024.

As for Iraq's exports, they fell to 4.06 million barrels during March 2024, compared to about 4.4 million barrels during the previous month, according to detailed data monitored by the Energy Research Unit from the US Census Bureau.

U.S. Oil Imports in March 2024

The volume of US oil imports increased by 2.7% month-on-month to 185.21 million barrels (5.97 million barrels per day) in March 2024, compared to 180.21 million barrels (6.21 million barrels per day) during the previous February.

While another side of the comparative data showed a decrease in US oil imports during March 2024 by 7% year-on-year compared to the same month (199.25 million barrels) of 2023.

The value of imports in March 2024 also decreased to $ 12.85 billion, despite the increase in the average price to $ 69.39 per barrel, compared to about $ 13.42 billion during the same month of 2023, when the average was $ 67.38 per barrel.

On the other hand, the volume of US crude oil exports decreased by 11.2% to 132.91 million barrels (4.28 million barrels per day) in March 2024, compared to 149.68 million barrels (4.82 million barrels per day) during the same month of 2023, according to another aspect of the data analyzed by the Energy Research Unit.

Mot: ...... Powerful Day!!!! May the fourth be with you

Mot: ... cast of the original Star Wars Trilogy

Some of the cast of the original Star Wars Trilogy.

Only two still with us.

Harrison Ford, (Hans Solo), Dave Prowse ( Darth Vader) , Peter Mayhew ( Chewbacca), Carrie Fisher ( Princess Leia) , Mark Hamill ( Luke Skywalker)and Kenny Baker (R2D2)

DINARRECAPS8 5/3/24 DINARRECAPS8 5/3/24

Iraq Economic News and Points to Ponder Late Friday Evening 5-3-24

Specialist: Floating The Dinar Is Economic Suicide

Money and business Economy News – Baghdad Economist Muhammad Hashem Helou confirmed that the central bank cannot float the dinar exchange rate.

Helu said, "The Central Bank of Iraq cannot think about floating the exchange rate because it will abandon its only influential tool in light of the weakness and disruption of other economic tools."

He added that the exchange rate is the nominal stabilizer of monetary policy in Iraq, and thinking about abandoning it is economic suicide and the bank cannot even think about that.

He continued, adding that floating the exchange rate in the presence of a parallel market and large speculators, and the presence of people who own billions of dinars and others who own billions of dollars, will lead to a sharp decline in the value of the currency, high levels of inflation, and rising prices..

Iraq Economic News and Points to Ponder Late Friday Evening 5-3-24

Specialist: Floating The Dinar Is Economic Suicide

Money and business Economy News – Baghdad Economist Muhammad Hashem Helou confirmed that the central bank cannot float the dinar exchange rate.

Helu said, "The Central Bank of Iraq cannot think about floating the exchange rate because it will abandon its only influential tool in light of the weakness and disruption of other economic tools."

He added that the exchange rate is the nominal stabilizer of monetary policy in Iraq, and thinking about abandoning it is economic suicide and the bank cannot even think about that.

Economic: The Fixed Dollar Exchange Rate Depletes Iraq's Foreign Currency Reserves

Manar Al-Obaidi Money and business Economist Manar Al-Obaidi confirmed that the fixed dollar exchange rate adopted by Iraq depletes the country's foreign currency reserves.

New Government Talk About The Oil Pipeline From Basra To Jordan

Energy The Prime Minister's Advisor for Energy Affairs, Falah Al-Amiri, announced that the project to extend the oil pipeline from Basra to Jordan is not currently on the table.

Al-Amiri said, “The project to extend the oil pipeline from Basra to Jordan is not on the table, and the focus is on the Basra port and the Turkish port of Ceyhan,” noting that talk about Jordan having an opponent is incorrect.

He added that this project has great complications and is not easily passed by the government.

142 views 05/03/2024 - https://economy-news.net/content.php?id=43108

In Financial Inclusion Week, Al-Rafidain Encourages The Use Of Electronic Payment In Citizens’ Transactions

Time: 05/03/2024 10:11:20 Read: 949 times {Economic: Al-Furat News} Rafidain Bank participated in the activities of the Financial Inclusion Week, in the presence of a wide range of financial and banking institutions.

During the participation of its special pavilion in commercial centers, gatherings and other places, the bank reviewed its services and products, including opening bank accounts, adopting electronic payment and collection, encouraging the use of electronic cards to reduce cash transactions, and introducing the importance of citizens saving their money in the bank instead of hoarding it at home.

In addition to the presence of a specialized team to answer citizens’ inquiries about other services.

Participation aims to educate the public about the importance of financial inclusion and the spread of banking culture to the furthest reaches of the country to include all segments of society. LINK

A Slight Rise In Oil Prices Amid OPEC+ Efforts To Extend Production Cuts

Economy Friday, May 3, 2024 9:23 AM Follow-up / National News Center Oil prices witnessed a slight rise on Friday as OPEC Plus considers extending production cuts. However, the general trend for the week indicates a decline amid concerns about the US economy and the impact of rising interest rates on growth.

Brent crude futures prices for July delivery rose by 16 cents to reach $83.83 per barrel, while US West Texas Intermediate crude for June delivery rose by 19 cents to reach $79.14 per barrel.

Despite this rise, both oil benchmarks were poised to suffer weekly losses, with Brent crude heading for a decline of 6.3% and US West Texas Intermediate crude falling by 5.6%. https://nnciraq.com/254871/

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Provoking Thoughts and Points to Ponder on Wealth

He that maketh haste to be rich shall not be innocent. - Bible

I glory more in the coming purchase of my wealth than in the glad possession.- Ben Jonson

I'll fares the land, to hastening ills of prey Where wealth accumulates, and men decay. - Oliver Goldsmith

It is the wretchedness of being rich that you have to live with rich people. - Logan Pearsall Smith

One cannot both feast and become rich. - Ashanti proverb

Poor men seek meat for their stomach, rich men stomach for their meat. - Old saying

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