“News and Views” Posted by Frank26 and Clare at KTFA
KTFA:
Frank26” "AGAIN GOALS OF THE MONETARY REFORM SECURITY & STABILITY"......F26
Opening of a dollar exchange outlet at Kirkuk International Airport
12/22/2024 Kirkuk/
The Executive Director of Kirkuk International Airport, Abdul Samad Al-Kubaisi, opened an outlet to sell foreign currency (dollars) to travelers at the airport, at the official rate of 132 thousand dinars per 100 dollars.
Al-Kubaisi stressed: "The step of opening a new outlet at the airport will have positive effects, especially since it takes a short time for the traveler to get his need for dollars," noting: "The work of exchange companies at the airport will be monitored by the Central Bank of Iraq." LINK
Frank26: "BECAUSE OF A NEW EXCHANGE RATE, NOT BECAUSE OF A PROGRAM RATE".........F26
Governor of the Central Bank of Iraq receives a delegation from the International Finance Corporation
December 11, 2024
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the International Finance Corporation, which included the Director of the Financial Sector of the Corporation in the region, Mr. Yousef Habash, and Mr. Bilal Al-Zughair, the Resident Representative in Iraq, the Financial Investment Officer, and the Head of the Advisory Department.
During the meeting, they discussed strengthening bilateral relations between the Central Bank of Iraq and the International Finance Corporation, the importance of cooperation between local banks and correspondent banks with technical support from the Corporation, and the development of Islamic banks operating in Iraq, in addition to the banking reforms carried out by the Bank in cooperation with the relevant authorities, especially the restructuring of government banks, and the role of international companies operating in this field (Ernst & Young and Oliver Wyman).
His Excellency the Governor discussed the proposal to establish a leasing company with local and foreign contributions, which is one of the financial systems used to provide financing for projects and individuals without the need to directly purchase assets such as machinery and industrial equipment, vehicles, offices, and warehouses. This proposal supports emerging projects and small and medium-sized companies looking for easy and flexible financing.
The meeting discussed the importance of launching Riyada Bank next year, which will support projects with small and medium-sized loans, in line with the government’s vision to support graduates and entrepreneurs and develop labor markets.
Central Bank of Iraq
Media Office
December 11, 2024
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Clare: Ministry of Transport announces that the completion rate of the development road project designs has increased to 63 percent
12/14/2024 Baghdad - WAA
The Ministry of Transport announced, today, Saturday, the completion rates of the strategic development road project, which is scheduled to open in 2029.
The Ministry's media office said in a statement received by the Iraqi News Agency (INA), "Accurate topographic survey operations have begun, extending from Al-Faw to the southeast of the Najaf Ashraf station, where an accurate topographic survey was conducted for the areas associated with passenger stations, container stations, storage stations, and ferries, including streams and rivers," noting that "the topographic survey is carried out using aerial photographs and surveying devices connected to satellites to ensure high accuracy."
He added that "the area ranges from 5 mm to 10 mm, and the survey includes all details related to the site to ensure proper planning for each part of the project, and that the topographic survey operations are scheduled to be completed to the Turkish border within the established timetables."
The media office confirmed that "the completion rates for the detailed designs phase of the railway line reached 64% and the land route 60%, while the cumulative completion rates for the detailed designs of the project reached 63%."
The statement indicated that "the development road, according to the designs, is at a distance that allows opportunities to connect the governorates to the project stations and benefit from both sides of the road, and the passage between the railway and land lines, while the Faw Port, which will be operated in 2025, will be used as a first phase, as it is an economic marine station for the project in addition to the presence of the industrial city, which will be the largest in the Middle East."
It indicated that "the Minister of Transport, Razzaq Muhaibis Al-Saadawi, directed the need to follow up on the work of the development road project, the first phase, which is known as the rehabilitation and re-operation phase of the current railway lines and preparing them to work in conjunction with the operation of the Grand Faw Port in 2025, and that the Italian company BTP provides consulting services regarding the first phase of the development road project (specific to rehabilitating the current railways), to be a strategic line ready for the safe transport of incoming cargo via railway lines, from the Grand Faw Port, which the ministry intends to operate in its first phase during the coming year."
It is noteworthy that the Ministry of Transport has developed integrated strategic plans for the transport sector with the development road project by land, rail, sea and air by linking airports to the development road project and benefiting from them by achieving integration that includes a number of operating and effective airports for the governorates located on the project, such as Basra Airport, Najaf Airport and Baghdad Airport, in addition to other airports that will be completed and opened in 2025, which are the airports of (Nasiriyah, Karbala, Mosul). LINK
Clare: Blinken: I was amazed when I arrived in Baghdad by the construction in Iraq and the vitality of the capital
12/14/2024 Baghdad - WAA
US Secretary of State Anthony Blinken expressed his astonishment today, Saturday, after his recent visit to Baghdad, at the construction in Iraq and the vitality in the capital, while indicating that the Iraqi people deserve this development.
"I was amazed when I arrived in Baghdad by the construction and vitality of the capital," Blinken said in a speech to reporters after leaving Baghdad, as followed by the Iraqi News Agency (INA), indicating that "important work has been accomplished to ensure that Iraqis receive the necessary services to build a better life."
He pointed out that "it is impressive that these changes are happening, and the Iraqi people deserve this development."
Yesterday evening, Prime Minister Mohammed Shia received US Secretary of State Anthony Blinken and discussed with him bilateral relations between the two countries, ways to enhance joint cooperation, as well as discussing the situation in the region, developments in the current events in Syria, and the regional and international efforts required to enhance security in Syria and the stability of the entire region. LINK
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Clare: Al-Sudani: There are suspicions of corruption in all loan transactions in Iraq
12/14/2024
Prime Minister Mohammed Shia al-Sudani acknowledged, on Saturday, that there were suspicions of corruption in financial loan transactions issued by Iraqi government banks.
In a speech he gave during the opening ceremony of the first Riyada Initiative Conference and Exhibition in the capital, Baghdad, Al-Sudani praised the role of banks in the process of lending to the youth participants in that initiative, adding that “let us admit that there are suspicions of corruption in all loan transactions, which we have reached in our previous experiences.”
He added, "We are facing a new reality and a new era for Iraq in which all its capabilities and natural resources that were not properly invested are invested, and these small projects will be the nucleus for other medium and large projects," noting that "most advanced industrial countries started with small projects and ended with large companies that sponsor a full spectrum of small companies."
Al-Sudani continued by saying: We are working on developing various sectors, and in partnership with foreign companies, the local product must be present, noting that “parts of the automobile industry can be manufactured in local workshops, and government banks will be present in supporting (Riyada) initiatives.”
The Prime Minister concluded his speech by saying: We have an integrated vision that starts with the youth to cover the needs of the local market for goods. LINK
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Clare: Iraq on the map of change" .. Expert: Expected international decisions will be taken before Trump's arrival
12/13/2024 Baghdad
Political affairs researcher Muhammad Ali Al-Hakim commented on Friday (December 13, 2024) on the call of the United Nations representative in Iraq to take new decisions that serve the current situation to avoid crises in Iraq.
Al-Hakim said in an interview with "Baghdad Today" that "the call of the UN representative after meeting the religious authority in Najaf to take new decisions that serve the situation in Iraq to avoid crises carries a clear message that Iraq is heading towards changes," noting that "there are important decisions that will be taken in the near future related to the changes taking place in the region, especially with Trump's imminent assumption of the presidency in the United States of America."
He added, "The unannounced visit of the US Secretary of State is to complete the upcoming changes in Iraq. There is international and UN movement towards Iraq, and for this reason the new phase will witness major changes on the internal level, as Iraq is part of the change in the map of the new Middle East."
Yesterday, Mohammad Redha, son of the supreme religious authority, Ali al-Sistani, received the representative of the Secretary-General of the United Nations, Mohammad al-Hassan, and his accompanying delegation, to discuss ways for Iraq to avoid any conflicts that would harm it.
This comes as US Secretary of State Anthony Blinken made a secret visit to Baghdad, where he met with Prime Minister Mohammed Shia al-Sudani, to discuss the situation in the region and developments in Syria, stressing the commitment of the members of the international coalition to the security, sovereignty and stability of Iraq. LINK