More News, Rumors and Opinions Thursday PM 4-18-2024
TNT:
CandyKisses: Minister of Planning of the World Bank: Our government's directions to reduce external borrowing and schedule it
{Economic: Euphrates News} Deputy Prime Minister and Minister of Planning, Muhammad Ali Tamim, met at his residence in Washington, D.C., on Wednesday evening, a delegation from the World Bank.
According to a statement of the ministry received {Euphrates News} a copy of it that "during the meeting, which was attended by Kazem al-Hasani, adviser to the Prime Minister, and a number of stakeholders, discussed the mechanisms of scheduling Iraq's foreign loans, in cooperation with the World Bank."
Minister Tamim stressed that "the directions of the Iraqi government are to reduce external borrowing, and to have urgent necessities, provided that these loans are directed to the development aspects and financing important strategic projects."
For its part, the World Bank delegation expressed its readiness to provide possible support to the efforts of the Iraqi government in the field of loan scheduling, and joint work to enhance the development areas of loans
Tishwash: American immunity over Iraqi funds... How did it begin and what does it mean?
On May 22, 2003, former US President George W. Bush issued an executive order to protect the Development Fund for Iraq, in which the proceeds of oil sales were deposited, with the aim of protecting it from any legal prosecution.
After more than two decades, successive US administrations are still renewing this presidential executive order and other orders related to Iraq and aiming to protect its funds.
The current US President, Joe Biden, signed the decree extending the state of national emergency related to the situation in Iraq for another year, which stated: “There are still obstacles to the orderly reconstruction of Iraq, restoring and maintaining peace and security in the country, and developing political, administrative, and economic institutions in Iraq.” .
The statement added that these obstacles "pose an extraordinary threat to the national security and foreign policy of Iraq and the United States of America as well. Therefore, (Joe Biden) has decided that it is necessary to continue the state of national emergency declared under Executive Order 13303 regarding the stability of Iraq."
What is Executive Order 13303?
The Executive Order is intended to protect the Development Fund for Iraq and certain other properties in which Iraq has an interest.
According to what was stated in the text of the executive order, then US President George W. Bush saw that there was a threat to seize or take other judicial measures against the Development Fund for Iraq and Iraqi oil and petroleum products and the revenues arising from them.
The executive order also stated that this situation “poses an extraordinary threat to the national security and foreign policy of the United States, and therefore a national emergency has been declared to address this threat.”
The order states that any seizure, judgment, decree or other judicial proceeding against the Development Fund for Iraq or Iraqi oil and petroleum products and the proceeds and obligations relating to their sale or marketing shall be null and void.
The Executive Order prohibits all US citizens and residents of the United States, as well as any entity organized under US laws, from filing lawsuits against Iraqi funds.
According to the US National Emergency Law, failure to renew the executive order within a period of 90 days from the date of the previous renewal means that it will become invalid.
Development Fund for Iraq
The Development Fund for Iraq was established after 2003, and before that, money from Iraqi oil sales was placed in an account managed by the United Nations within what is known as the Oil-for-Food Program.
In the mid-nineties of the last century, the UN Security Council resolution related to oil for food was issued and stipulated the sale of a portion of Iraqi oil in exchange for the purchase of medicines and food during the era of Saddam Hussein’s regime, which suffered international sanctions as a result of its invasion of Kuwait in 1990.
This situation continued until 2003, when a new Security Council resolution was issued under which most of the economic sanctions were abolished, provided that issues related to the invasion of Kuwait were resolved, such as compensation, prisoners, and others. link
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Rod Steele [via PDK] Sudani has been in the US since Saturday and he met with Biden for an hour on Monday. Everything is now formally agreed too…Iraq is telling the people it is done and coming. The ABC agencies are saying to look for it between now and the rest of the week. The banks are hoping it will be tonight [Wednesday] or in the morning. I think they are a little bit ahead of the game though. Logically and realistically I think it will be next week because all the key Iraqi ministers and officers are here in the US. I think they will wait until they are back on Iraqi soil...I hear they are putting up big screen TV’s all over Baghdad and other parts of Iraq for some big announcement when they get back. We don’t know what that announcement is…but, I can guess.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Sudani...is meeting with Iraqi business owners in the United States of America ...They're talking about visits that will bring more stability. They're saying they are going to return the dinar to its price and how the dollar will drop dramatically and not be used in Iraq. A lot is being said about the strength of our currency of the dinar and the meeting is over 100 of these companies.
Vietnam Stock Market Sharp Drop IQD Rate Flux Haiti's Progress Gold Prices
Edu Matrix: 4-18-2024
Vietnam's Stock Market drops sharply on Monday after the Iran-Israel incident. Gold prices are going through the roof. Haiti's currency was stable, and the council was created to ensure a stable government.