Some "Thursday Iraq News" Posted by Clare at KTFA 2-29-2024

KTFA:

Clare:  Iraq signs a memorandum of understanding with the Japanese company Toyota

2/29/2024- Baghdad

The Minister of Electricity, Ziyad Ali Fadel, sponsored today, Thursday, the signing of a memorandum of understanding with the Japanese company Toyota. To develop the networks and capabilities of the electrical system.

A statement from the ministry, received by Mawazine News, said: “The memorandum was signed in the presence of the Japanese ambassador and stipulates that the Japanese company will finance and implement a number of special projects in the production, transportation and distribution sectors, and joint committees will be formed between the two parties to determine the list of projects proposed for implementation and their priorities.”

The statement continued, “After concluding the memorandum of understanding, the Minister of Electricity expressed his great appreciation for Japan’s role in supporting Iraq and the contribution of Japanese companies to its reconstruction operations, especially in the energy sector,” reiterating his “call on foreign companies to seize the available investment opportunities and implement various projects in the electricity sector.”   LINK

Clare:  The launch of the Erbil International Motor Show with the participation of 120 international companies (photos)

2/29/2024

Today, Thursday, the city of Erbil witnessed the opening of the ninth edition of the Erbil International Motor Show, while 120 companies participated, half of them Chinese and eight international companies, most notably Mercedes-Benz, Ford and BMW.

Shafaq News Agency correspondent said, today, the ninth Erbil International Exhibition for cars, spare parts and accessories was opened with the participation of 120 car companies, and it specializes in spare parts and includes 200 brands.

He added that 60 companies from China and eight major international companies such as Ford and Mercedes-Benz are participating, consisting of 13 brands, and the event will continue until the 3rd of next month.

The reporter added that the exhibition opens daily from 11-7 p.m., and provides the possibility of buying and selling cars, spare parts, and registering commercial car agencies.  LINK

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Clare:  The International Monetary Fund promises to support digital transformation in Iraq

2/29/2024

Today, Thursday, the Iraqi delegation, headed by Finance Minister Taif Sami, concluded its discussions with the Article IV mission of International Monetary Fund experts in Amman.

The Ministry of Finance said in a press statement, “During the discussions, the implementation of the economic reform program and the improvements achieved by the Iraqi government in the field of development infrastructure, financial sustainability, and maximizing non-oil revenues were reviewed.”

The Iraqi delegation confirmed, according to the statement, that “the Fund promised to support development programs to advance public financial management, digital transformation, banking, retirement, and customs sectors, and to enhance private sector participation efforts through investment incentives, infrastructure, and reconstruction,” indicating “its intention to continue discussions and consultations during the Fund’s periodic annual meetings.” ".

The Fund’s mission praised “the achievement of good progress in many financial and monetary aspects and in the areas of transparency, control, provision of financial statements and rationalization of expenditures, in addition to the strong return of growth in the non-oil sector during 2023 with a noticeable decline in inflation rates, and this is reflected in the decline in food and energy prices.” .

The mission noted “the positive developments in the return of trade financing operations to their normal path and the stability of the foreign exchange market following the implementation of anti-money laundering and counter-terrorism financing controls on cross-border payments,” welcoming “government plans aimed at strengthening public financial management, including welcoming “With the steps taken by the government towards establishing a unified treasury account, improving cash flow management and increasing the tax base, as well as reviewing the customs tariff structure and achieving more targeting in social support and care.”

The mission also expressed its optimism about “the level of understanding and progress achieved with the Iraqi government and the coordination steps and joint consultations that will be completed in the near term that will contribute to addressing the financial problems imposed by the circumstances of international conflicts and their accompanying economic impacts,” explaining that “purposeful structural reforms are continuing to stimulate economic diversification.” “Creating job opportunities led by the private sector is a pivotal factor in achieving sustainable and inclusive growth.”

According to the statement, priorities at this level include creating equal opportunities for the private sector by implementing reforms in banking and the electricity sector, reducing distortions in the labor market, and continuing to make efforts to strengthen governance and limit the spread of corruption.

It is noteworthy that Article IV consultations are bilateral meetings held annually between the International Monetary Fund and member states, after which a team of Fund experts meets the member country and conducts formal consultations with its officials.   LINK

Clare:  Al-Sudani: The investment environment in Iraq has become promising, welcoming and open

2/29/2024

On Thursday, Prime Minister Muhammad Shiaa Al-Sudani described Iraq’s investment environment as “promising, welcoming and open after the financial, administrative and banking reforms carried out by the government he heads.”

This came during his reception of a delegation from the Turkish company Limak, which specializes in transportation and construction projects, headed by the company’s founder Nihat Ozdemir, according to a statement issued by the Presidency of the Council of Ministers.

At the beginning of the meeting, Al-Sudani pointed out the investment and development opportunities that the company can contribute to in Iraq, especially in the areas of infrastructure and transportation projects, and what is related to the development road projects and the Grand Al-Faw Port, as well as road, bridge and industrial city projects in various governorates.

The Iraqi Prime Minister reiterated the government's welcome of companies with high technical and operational experience, explaining that the investment environment in Iraq has become a promising, welcoming and open environment, especially after the financial, administrative and banking reforms took their course, and the private sector was qualified to conclude fruitful partnerships with international companies.     LINK

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Clare:  The International Monetary Fund indicates a decline in inflation rates and the stability of the foreign exchange market in Iraq

2/29/2024

The International Monetary Fund indicated a “significant decline” in inflation rates, which was reflected in the decline in food and energy prices, in addition to the stability of the foreign exchange market in Iraq, as announced by the Ministry of Finance.

The ministry stated in a statement that an Iraqi delegation headed by Finance Minister Taif Sami concluded today, Thursday, its discussions with the Article IV mission of International Monetary Fund experts in Amman, during which the implementation of the economic reform program and the improvements achieved by the Iraqi government in the field of development infrastructure, financial sustainability, and maximizing... Non-oil revenues.

The statement quoted the delegation as confirming that the Fund promised to support development programs to advance public financial management, digital transformation, banking, retirement, and customs sectors, and to enhance private sector participation efforts through investment incentives, infrastructure, and reconstruction, indicating its intention to continue discussions and consultations during the Fund’s periodic annual meetings.

The statement added that the Fund's mission praised "the strong return of growth in the non-oil sector during 2023, with a noticeable decline in inflation rates, and this is reflected in the decline in food and energy prices."

According to the statement, the mission “noted the positive developments in the return of trade financing operations to their normal course and the stability of the foreign exchange market following the implementation of anti-money laundering and anti-terrorist financing controls on cross-border payments.”

It is noteworthy that the International Monetary Fund’s Article IV consultations are bilateral meetings held annually between the International Monetary Fund and member states, after which a team of Fund experts meets with the member country and conducts formal consultations with its officials.   LINK

KTFA Wed. Night CC: " FRANK26….2-28-24……PEOPLE GET READY….."

KTFA

Wednesday Night Conference Call

FRANK26….2-28-24……PEOPLE GET READY…..

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=a3DNpeAh6x0

Some International Iraq News Posted by Clare at KTFA Tuesday 2-27-2024

KTFA:

Clare:  The Territory Commercial Bank announces financing Iraq's trade with India in rupees

2/27/2024  Baghdad

The Territory Commercial Bank announced financing trade between Iraq and India in the rupee currency.

The bank said in a press statement, “We announce the launch of a pioneering initiative to enhance trade exchange between Iraq and India, where trading partners can now conduct their financial transactions in the Indian rupee. This step aims to facilitate and accelerate commercial operations between the two countries by providing simplified and effective financial solutions.”

He added, "Within the framework of this initiative, the Territory Commercial Bank opened an account in Indian rupees with DBS Bank in New Delhi, which allows cross-border financial transactions to be carried out more easily and efficiently. This transformation aims to eliminate the challenges related to currency exchange and reduce transaction costs and the time required to complete them." “This will reflect positively on the efficiency of trade between Iraq and India.”

The bank indicated that we assure our customers that all transactions in the Indian rupee will be conducted in accordance with the laws and directives set by the Central Bank of Iraq, to ​​ensure complete safety and transparency in all operations.

The bank called on companies operating in the field of trade between Iraq and India to benefit from this service, which provides them with the opportunity to improve efficiency and reduce costs.   LINK

Frank26:   "THERE IT IS AGAIN & AGAIN!!!".........F26

 Al-Atwani calls on the International Monetary Fund and the World Bank to provide the necessary support to Iraq

2/26/2024  Baghdad – 

Chairman of the Finance Committee, Representative Atwan Al-Atwani, called on the International Monetary Fund and the World Bank to provide the necessary support to Iraq in the areas of exchanging experiences and training national cadres.

 The media office of the Chairman of the Finance Committee stated in a statement received by the Iraqi News Agency (INA), that “The Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, participated this evening, Monday, via closed-circuit television, in the deliberative meeting of the International Monetary Fund regarding the financial and economic situation in Iraq.”  

He added, "Al-Atwani provided a complete briefing on the financial and economic situation and the provisions and programs included in the tripartite budget law for the years (2023-2025) that are consistent with the government program to advance various sectors, activate the private sector, encourage investment, and support investors, in order to achieve sustainable development." 

Al-Atwani stressed, according to the statement, that “approving the tripartite budget gave the government great comfort in terms of contracting, implementing projects, and attracting foreign companies to implement major projects,” pointing out that “the Finance Committee, through monitoring spending and financing and implementing plans and programs, seeks integration between the legislative and executive authorities.” Because we want this government to succeed, especially since it is taking steady steps towards achieving the aspirations of the people.” 

Al-Atwani pointed out that “the National Service Government is serious about moving the wheel of the economy and development and has ambitious programs to advance various productive sectors and maximize non-oil revenues, to leave the state of excessive dependence on oil in forming the general budget.” 

Al-Atwani concluded his participation by calling on the International Monetary Fund and the World Bank to provide the necessary support. For Iraq in the areas of exchanging experiences and training national cadres, to develop our banking system, especially as we are moving towards activating the digital financial dealing system and automating taxes, customs and other service sectors that generate financial revenues for the state.  LINK

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Clare:  The World Trade Organization approves new rules to facilitate the exchange of services

2/27/2024

On Tuesday, the World Trade Organization approved new rules to facilitate the exchange of services between more than 70 of its member countries, despite initial objection from India and South Africa.

 The European Union said in a statement that the agreement will contribute, by facilitating administrative mechanisms and technical rules, to reducing the costs of global trade in services by more than $119 billion every year, according to Agence France-Presse.

 In turn, European Trade Commissioner Valdis Dombrovskis explained, during the thirteenth Ministerial Conference of the World Trade Organization held in Abu Dhabi, that “reaching this result and integrating it into the World Trade Organization was not an easy matter.”

He added, "We faced opposition from two members of the organization, but the 'spirit of compromise' removed the obstacles in the end," without naming the two countries.

For her part, the Director-General of the Nigerian organization, Ngozi Okonjo-Iweala, thanked “India and South Africa for finding a way forward.”

The value of global services exports is estimated at more than $6.5 trillion, representing 23% of total global trade, according to the European Union.

The new WTO agreement applies to the 71 member states that have signed it – representing 92% of global trade in services – but businesses from other member states can benefit from it too.

China, the United States, and the European Union are among the signatories to the agreement, while India and South Africa have not signed it.

Costa Rican Foreign Trade Minister Manuel Tover, whose country led the negotiations on the agreement, considered it an “important stage” for the member states of the organization.

"This is the first result achieved by the WTO in the field of services in more than 25 years. It is a real success story for this organization," he said.  LINK

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Clare:  The Minister of Commerce discusses with the Director of the International Trade Center the formula for joint action and support for Iraq to obtain membership in the WTO

2/26/2024

Today, Monday, in Abu Dhabi, the Minister of Commerce, Atheer Daoud Al-Ghurairi, discussed with Pamela Cook-Hamilton, Executive Director of the International Trade Center ITC in Geneva, the formula for joint action, supporting Iraq’s accession to the World Trade Organization, and strengthening the capabilities of the administrative staff on the economic and commercial tracks.

During the meeting, the Minister stressed the Iraqi government's desire to integrate into the global multilateral trading system to stimulate and revitalize the role of the Iraqi economy by supporting reforms and legislation to be consistent with the market system and enhancing the country's economic capabilities.

Minister Al-Ghurairi pointed out that we in Iraq need to focus support in intensifying training and capacity building to create models from a generation of trained employees who are aware of the vision of the principles and concepts of the market economy to be qualified to lead the next stage in light of the government’s approach to this aspect.

Al-Ghurairi continued by saying: We are happy to work with your team and the support provided to complete the files required for Iraq’s accession to the World Trade Organization, stressing the desire to benefit from the capabilities of the center and its training institute to train and create a diplomatic, commercial generation.

For her part, the Director of the Trade Center expressed readiness to provide more support to Iraq to fulfill the requirements of the next stage in building and strengthening the capabilities of the new generation in accordance with market standards to achieve sustainable development goals and develop the institutional capabilities of the relevant ministries, in addition to strengthening the capabilities of the private sector and small and medium enterprises and supporting youth projects.

And increase their skills, stressing the center’s commitment to Iraq in providing all the support and technical assistance it needs, along with the continuity of joint cooperation, in a way that serves the directions of the Ministry of Commerce in strengthening its work in formulating economic and trade policy. LINK

Clare:  The Minister of Commerce stresses the necessity of activating the joint committee between Iraq and Malta

2/27/2024   Baghdad

On Tuesday, Minister of Commerce Atheer Daoud Al-Ghurairi stressed the Iraqi government’s directions to expand and develop economic and trade relations at all levels with all countries of the world, while indicating the necessity of working to activate the joint committee emerging from the agreement signed between Iraq and Malta in 1985.  LINK

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Clare:  The Minister of Commerce discusses in Abu Dhabi with the World Trade Organization the completion of procedures for Iraq to join the organization

2/27/2024

The Minister of Commerce, Atheer Al-Ghurairi, met in Abu Dhabi with Assistant Director-General of the World Trade Organization, Zunk Shank Shank, and discussed with him the completion of Iraq’s procedures to complete the required files, support reforms and legislation to be consistent with the market system, and strengthen the country’s economic capabilities to complete the requirements of the next stage of the accession process.

The Minister stressed in a statement, “the keenness of the working group on accession to continue by strengthening cooperation with the organization’s accession department and the head of the working group, Saudi Ambassador Saqr al-Muqbel, whose recent visit to Iraq provided great support for the efforts and steps taken by the national committee concerned with accession, which he chaired, to complete all requirements in a way that achieves Iraq's integration into the multilateral trading system.

During the meeting, the minister stressed "the hope that the efforts of the organization's working group will focus on supporting the accession of important countries, including Iraq."

Al-Ghurairi continued, "The Iraqi government, within its government program and the measures it took to raise the level of draft laws and support the role of the private sector, recorded international signals of its endeavor and eagerness to return to the economic system due to its geographical and economic importance in the region."

For his part, the Assistant Director General of the organization confirmed, “The organization is looking forward to and following the steps for Iraq’s accession carefully, given that Iraq is one of the important and powerful economies that is still outside the organization, and that Iraq’s presence within the organization’s membership will be a great added value to the organization and to the global economy.”

He praised the advanced stages accomplished by the Ministry of Commerce in terms of completing and submitting the technical files on goods and services in trade, which will speed up the holding of the third round of negotiations, wishing for the continuity and continuity of momentum and work to complete the requirements for accession, amend the required laws and legislation, and complete the technical files within their specified timing, as the team will present We support him to complete his journey to join and we celebrate him in the next ministerial meeting of the organization.”   LINK

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Clare:  Parliamentary agreement with the European Union mission: European financial and banking institutions are preparing to invest in Iraq

2/27/2024

The Parliamentary Investment and Development Committee agreed, with the European Union mission in Iraq, on a number of economic files, while the European mission revealed new financial and banking projects to work in Iraq.

The head of the committee, Representative Hassan Al-Khafaji, said in a joint press conference today, Tuesday, “We hosted the European Union ambassador to discuss a number of files related to new legislation. We also agreed to cooperate to combat corruption, and to work together to allow European companies to enter the Iraqi local market, exchange economic and commercial experiences, and open new European factories.” In Iraq and refining the capabilities of Iraqi competencies in various fields.

He added, "We asked the European side to open a permanent office and headquarters inside Iraq because they currently have no headquarters except inside the British Embassy. We also asked to open banking branches in Iraq that finance industrial and investment projects, with full support provided by the government and the House of Representatives in matters of reconstruction, investment, and loans." He pointed out that there are currently joint projects in Baghdad, Babylon, and Karbala, where the European Union is interested in infrastructure. He

continued to say, “We requested funding for many projects, especially with Iraq’s accession to the International Arbitration Organization and the vote on the partnership law between the private and public sectors, which allows foreign companies to enter.” And to work in Iraq and participate with the private sector for reconstruction and building the new Iraq. We also agreed on unified action to bring in reputable companies similar to companies operating in the Middle East and international companies that contributed to building Iraq’s factories during the era of the eighties and seventies.

In turn, Ambassador Thomas Seller said, “We met with Parliamentary Investment and Development Committee: As a European Union mission, we concluded that the European Union must make more efforts for European companies to invest in Iraq, and we must work together to provide the conditions that enable Europe to invest more in Iraq.”

He added, "We discussed the legislative necessities in order to achieve economic stability in Iraq, as well as investment stability, and these are steps that must be taken by the Iraqi parliament, and there are many laws that support this, including the investment law, the partnership law between the public sector and the private sector, and others, and all of this is part of the trend." The government aims to combat corruption and support investment and the economy.”

He added, "We discussed many issues and details, and all of these are part of Europe's interest in the stability of Iraq, because we see that Iraq can play an important central role in the region politically and economically, and in order to achieve this we must talk about developing the European Union's investment programs, especially the financial and banking institutions, which are The European Bank for Reconstruction and Development, which we expect will soon come to work in Iraq, as well as the European Investment Bank, which is concerned with providing loans and expertise to support infrastructure projects.”

He explained, "This matter requires a lot of continuous work, but we have committed ourselves to working in this aspect for the benefit of the Iraqi citizen, and we will cooperate with the local authorities to achieve this." LINK

KTFA Monday Night CC: " FRANK26….2-26-24……THERE IT IS AGAIN"

KTFA

Monday Night Conference Call

FRANK26….2-26-24……THERE IT IS AGAIN

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=osvPrxhzv44

KTFA Sunday Night CC: "FRANK26……2-25-24……THIS IS IT"

KTFA

Sunday Night Conference Call

FRANK26……2-25-24……THIS IS IT

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

https://www.youtube.com/watch?v=bTJy_6Jx5Eg

Is it time to delete zeros from the Iraqi dinar ?

KTFA:

Clare:  Ziad Al-Hashemi, a researcher in international economy (Cambridge/UK) writes to Iraq Observer: Is it time to delete ?zeros from the Iraqi dinar

February 24, 2024 Opinions / Iraq Observer

The dinar and its three zeros - is it time to symak the dinar and return to the dinar 1980 Since the beginning of 2010, the talk within the Iraqi economic community has expanded about the zeros that burdened the dinar for nearly two decades, and the need to deal with them, and to rid the dinar and free it of the burden of heavy zeros.

The goal is (return to the value of 1980 dinar), like the issues and topics discussed and interacted by Iraqis, opinions have varied and differed between an enthusiastic supporter of deleting zeros and a hesitant and rejecter, and the .state of disparity continues to this day

The process of deleting zeros is related to replacing the old currency with multiple zeros with a new currency free of zeros.

In the case of the Iraqi dinar, for example, the prevailing proposal is to replace every thousand dinars of the current currency with one dinar of the new currency, and as is traded among economists in general and cashians in particular, the deleting zeros can achieve many benefits, the most important of which is getting rid of high inflation pressures on the economy and restoring confidence in the national currency and the monetary system as a whole, facilitating accounting processes and cash exchange between citizens, and reducing the cost of managing and maintaining the monetary block by reducing its .volume under circulation

These and other benefits have encouraged some countries to adopt the process of deleting zeros from their zero-sweaden currencies, in an attempt to get rid of the burdens of inflation, or to start a new economic page, going beyond the mistakes of the past.

According to some statistics, dozens of countries have tended to delete zeros, including countries in South America, Iran, Turkey and other countries in Africa and East Asia, and in total, we have 70 deletions of currency .zeros since 1960 until today Returning to the Iraqi situation, the huge accumulations over the past decades were the main and direct reason for the loss of the dinar of its value that it enjoyed during the seventies and eighties of the last century.

Some statistics indicate that the Iraqi dinar lost by 400,000% of its value between the years 1990- 2007, meaning that the commodity that the citizen bought for 100 dinars in 1990 became buying it for 400 thousand dinars in 2007, and this is a huge huge increase, which cast a shadow on the Iraqi markets and the Iraqi commercial movement, increased the pressure on public money, and ate from the value of the citizens' cash savings, or in other words, greatly weakened the purchasing power of consumers

Accompanied by this Continuing to print the currency and increasing the cash mass in circulation, which until 1980 did not exceed 25 billion dinars, to rise in the 1990s to 40 billion, then the huge jump came in 2003 to reach the cash mass to 6 trillion dinars and exceed 27 trillion dinars in 2010 until we reached the level of more than 100 trillion dinars, and the number is able to increase, and the 25 dinars note was the largest banknote in 1990

But today we have the categories of .25,000 and 50,000 dinars Because of the achievement of a kind of security and economic stability in Iraq supported by a strong financial position due to the large oil revenues that generated huge reserves of hard currency, a group of financial and economic experts believe that it is time to start to scalate the dinar and delete its three zeros, where the process (in their opinion) will achieve a lot of positives that the Iraqi economy needs, the first of which is the return of the dinar as a store of value, restore confidence in the monetary system, reduce the demand for hard currency and get rid of the phenomenon of dollarization that has caused the economy and squandered huge financial wealth.

With the process of of flining the dinar, the issued cash mass can be reduced from 100 trillion to 100 billion and this is a number that can be managed more Efficient and .less expensive Despite the validity and opponence of this opinion in many aspects, there are some issues that must be taken into account before making such a decision.

The process of deleting zeros will not provide a magic solution alone through which the Iraqi monetary system can get rid of inflation and cover behind a young currency without zeros. Experience has shown that many countries have not benefited sufficiently from the process of deleting zeros, as the value of currencies have deteriorated in some cases, and the new currencies have returned to accumulate zeros again, in an undoubted confirmation that the fight against inflation requires other more effective solutions that are applied in parallel with the process of deleting zeros

And from those experiences, the experience of Brazil Which has been deleting zeros seven times since 1930 and with a total of 18 zeros, and this country succeeded only in the attempt in 1993, when the process of deleting zeros was associated with an economic reform process targeting the roots and .causes of inflation

 With a quick look, we find that the Iraqi economy still suffers from serious structural and structural problems, including the issue of high rent, the fragility of the non-oil sectors and the deterioration of their domestic product, and the lack of sufficient discipline in monetary and financial policies and the ambiguous relationship between the two policies, not to mention the obsolescence of administrative and banking systems and the penetration of corruption all joints and sectors of the economy, and other negatives, and until the process of deleting zeros is achieved,

it is important to precede the implementation of an effective economic reform program that re-engineers and structures economic sectors, accompanied by a review and evaluation of both monetary and financial policies and adjusting the relationship between them, and developing appropriate plans to manage the transitional smoothly from an old currency burdened with zeros.

To a nascent currency that needs care and good management, so that the country can actually achieve the maximum benefit from the process of .deleting zeros and sinarg In addition, carefully choosing the appropriate timing for the implementation of the process of deleting zeros is one of the most important success factors that must not be absent from the monetary decision-maker.

 The wrong timing in implementation may negatively affect the behavior of consumers, confusing the markets (including financial markets), hitting the reputation of the new dinar, returning to the state of dollarization, fleeing capital, providing new ways and paths for money laundering operations, supporting irregular and illegal operations.

This may lead to further rises in prices and inflation rates, and this means complete failure of the dinar flighting process. This process is considered a double-edged weapon that requires a high level of carefulness, planning and good execution, away from speed In the implementation to search for rapid economic or political gains

So I say in conclusion, that Iraq still needs more time, effort and work to study this process in a deep and extensive manner and prepare the necessary conditions and tools that the country needs to reach the stage of the ability to implement the process of faltering the dinar effectively and successfully, and then reap its fruits and benefit from it according to the plans set, then we can say with reassuringly that Iraq has become a strong dinar that maintains its value, comparable to other strong currencies around the world, and may be even stronger .than the 1980 dinar

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Henig:  The goal is (return to the value of 1980 dinar), like the issues and topics discussed and interacted by Iraqis, opinions have varied and differed between an enthusiastic supporter of deleting zeros and a hesitant and rejecter, and the .state of disparity continues to this day The process of deleting zeros is related to replacing the old currency with multiple zeros with a new currency free of zeros.

In the case of the Iraqi dinar, for example, the prevailing proposal is to replace every thousand dinars of the current currency with one dinar of the new currency, and as is traded among economists in general and cashians in particular, the deleting zeros can achieve many benefits, the most important of which is getting rid of high inflation pressures on the economy and restoring confidence in the national currency and the monetary system as a whole, facilitating accounting processes and cash exchange between citizens, and reducing the cost of managing and maintaining the monetary block by reducing its .volume under circulation

Henig:  THAT'S what I'm talkin' about!!!!   Outstanding find, Miss Clare!!! Well done!!!

DallasDude:  And furthermore the Iraqi Dinar in 1980,
1,980 dinars = $1.51 USD..IMO   Good stuff Claire..

KTFA Saturday Night CC: " FRANK26….2-24-2024….IQD UPDATE….LOOK FOR IT "

KTFA

Saturday Night Conference Call

FRANK26….2-24-2024….IQD UPDATE….LOOK FOR IT

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

https://www.youtube.com/watch?v=qGyTln-OAjk

ARAB PERSPECTIVES ON WTO ACCESSIONS AND THE MULTILATERAL TRADING SYSTEM

KTFA:

ACCESSIONS

12th China Round Table on WTO Accessions

ARAB PERSPECTIVES ON WTO ACCESSIONS AND THE MULTILATERAL TRADING SYSTEM

 Abu Dhabi National Exhibition Centre, Hall 10, Room B - In-Person

23 FEB 2024  24 FEB 2024

The 12th China Round Table (CRT-12) will take place on 24-25 February 2024 in Abu Dhabi, United Arab Emirates (UAE), on the margins of the 13th WTO Ministerial Conference (MC13). This is the first Round Table organized in the Arab region. The focus of this Round Table will be Arab Perspectives on WTO Accessions and the Multilateral Trading System.

The Arab region is one of the most under-represented in the WTO. Of the 22 members of the Arab League, only 13 are WTO Members and nine are observers of different types. Out of the 13 Members, the Hashemite Kingdom of Jordan, the Sultanate of Oman, the Kingdom of Saudi Arabia and Yemen joined the WTO through the accession process pursuant to Article XII of the Agreement Establishing the WTO (the Marrakesh Agreement) between 2000 and 2014.

Today, Algeria, Comoros, Iraq, Lebanese Republic, Libya, Somalia, Sudan and the Syrian Arab Republic are in the process of Article XII accession, while Palestine has had an ad hoc observer status in the WTO Ministerial Conferences since 2005

 The eight Arab acceding governments have been pursuing accession, on average, for approximately 20 years, with some of the accession processes being inactive for a long time. Together with Timor‑Leste, Comoros is a candidate to join the WTO at MC13. 

WTO Director-General Ngozi Okonjo-Iweala highlighted during the 2nd High-Level Regional Dialogue on WTO Accessions for the Arab Region: "With several Arab acceding governments expected to step up engagement at the WTO this year, especially in the case of Comoros, we should step up our joint efforts to support them. 

One potentially useful point of action could be to put together a study detailing the accession and post-accession experiences of Article XII members from the region.

This could serve as a guide for Arab countries working to revive their accession negotiations and would yield insights for how best the international community could support Arab accessions or Arab countries' participation in the WTO more generally." Commenting on the Trade for Peace programme, the Director-General noted that "The Trade for Peace agenda has brought to light how reforms associated with the WTO accession process can help Arab countries build resilience and foster prosperity, peace and stability."

OPENING

Opening Ceremony
09:30-10:00

 Abu Dhabi

Moderator

Ms. Maika Oshikawa

Director, Accessions Division, World Trade Organization

Opening remarks

H.E. Mr. Juma Al Kait

Assistant Undersecretary for International Trade Affairs, Ministry of Economy, United Arab Emirates

Opening remarks

H.E. Ambassador LI Chenggang

Permanent Representative, Permanent Mission of the People's Republic of China to the World Trade Organization

Opening remarks

Mr. ZHANG Xiangchen

Deputy Director-General, World Trade Organization

SESSION 1: Best Practices in WTO Accessions for Arab Region: Lessons from Past and On-going accessions in the region
10:30-12:30

 Abu Dhabi

"Best Practices in WTO Accessions for Arab Countries: Lessons from Past and On-going Accessions" is a joint study with the collaboration of four partner organizations (WTO, the Arab Monetary Fund, the Islamic Development Bank and the Islamic Center for Development of Trade). The study aims at providing factual accounts of past and on-going Arab accessions, as well as the post-accession performance of Article XII Arab Members, including their participation in the WTO. This session will present the main findings and recommendations of the Joint Arab Study for WTO Accessions. This will be followed by an open discussion among participants.

Moderator

Dr. Mena Hassan

Economic Affairs Officer, Accessions Division, World Trade Organization

Speaker

Representatives from Arab acceding governments: Algeria, Comoros, Iraq, Lebanon, Libya, Somalia, Sudan, Syria and MC13 Observer:Palestine

Speaker

Representatives from Arab Article XII Members: Jordan, Saudi Arabia, Yemen

Speaker

Dr. Linda F. Kassem

International Trade Lawyer & Public Policy Consultant

Speaker

Mr. Stephen Karingi

Director, Regional Integration and Trade Division, Economic Commission for Africa (UNECA)

DAY 2

High-Level Session: Arab Perspectives on WTO Accessions and the Multilateral Trading System

09:30-11:00

 Abu Dhabi

This high-level session will draw from the experiences of original WTO and Article XII Arab Members to discuss the benefits of WTO membership and help better equip Arab acceding governments to navigate the accession process. The session will also highlight the importance of trade in Arab economies including how to best utilize WTO membership to ensure economic policy coherence.

Moderator

Dr. Mena Hassan

Economic Affairs Officer, Accessions Division, World Trade Organization

Speaker

H.E. Mr. Mohammed A.M. Haweg

Minister of Economy and Trade, State of Libya

Speaker

H.E. Mr. Amin Salam

Minister of Economy, Lebanese Republic

Speaker

H.E. Mr. Atheer Al-Ghurairi

Minister of Trade, Republic of Iraq (TBC)

Speaker

H.E. Mr. Ryad Mezzour

Minister of Industry and Trade, Kingdom of Morocco (TBC)

Speaker

H.E. Mr. Mohamed Mohamed AL-Ashwal

Minister of Industry and Trade, Republic of Yemen

Speaker

Mr. Azizbek Urunov

Special Representative of the President on WTO Issues, Chief Negotiator, Republic of Uzbekistan

Speaker

H.E. Mr. Tomislav Momirović

Minister of Internal and Foreign Trade, Republic of Serbia

Speaker

H.E. Mr. Ramesh Rizal

Minister for Industry, Commerce and Supplies, F.D.R. of Nepal

https://www.wto.org/english/th.....2409_e.htm

RMF: Iraq, is in the process of Article XII accession ! Back in the old days the scuttlebutt was that shortly after getting out of Article 8 and into Article 7 we would soon see what we were looking for.  This is very exciting IMO.   

Clare:  WTO ANALYTICAL INDEX WTO Agreement – Article XII (Practice)

https://www.wto.org/english/re.....12_oth.pdf

KTFA Wednesday Night CC: "FRANK26…..2-21-24……BE IN CONTROL"

KTFA

Wednesday Night Conference Call

FRANK26…..2-21-24……BE IN CONTROL

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE… ORANGE= IMPLEMENTATION

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

KTFA Monday Night CC : " FRANK26….2-19-24…..DETERMINED !!!"

KTFA

Monday Night Conference Call

FRANK26….2-19-24…..DETERMINED !!!

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=y432gcAYOGE

KTFA Saturday Night CC: "FRANK26……2-17-24……IQD Q&A"

KTFA

FRANK26……2-17-24……IQD Q&A

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=Wo034bf247U