Frank26 and KTFA “News and Views” Sunday 6-2-2024
KTFA:
Frank26: "THAT'S THE GOAL OF THE MONETARY REFORM!!!"............F26
Experts expect the dollar exchange rate to fall and reach parity with the official price
5/26/2024
Financial experts expected the parallel dollar exchange rate to fall and reach parity with the official price.
The economic advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that the dollar exchange rate in the parallel market was close to matching the official price, in conjunction with the increased ability of banks to meet the requirements of the Central Bank and its compliance with the rules of external transfer
While experts indicated in Financial Affairs indicated that, in accordance with government procedures and reforms through the application of the electronic currency transfer platform and the establishment of correspondent relations between Iraqi and foreign banks, its results may be reflected positively in controlling the parallel exchange rate and the black market. LINK
KTFA:
Frank26: "THAT'S THE GOAL OF THE MONETARY REFORM!!!"............F26
Experts expect the dollar exchange rate to fall and reach parity with the official price
5/26/2024
Financial experts expected the parallel dollar exchange rate to fall and reach parity with the official price.
The economic advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that the dollar exchange rate in the parallel market was close to matching the official price, in conjunction with the increased ability of banks to meet the requirements of the Central Bank and its compliance with the rules of external transfer
While experts indicated in Financial Affairs indicated that, in accordance with government procedures and reforms through the application of the electronic currency transfer platform and the establishment of correspondent relations between Iraqi and foreign banks, its results may be reflected positively in controlling the parallel exchange rate and the black market. LINK
Frank26: "EDDIE TOLD ME, THE WORLD BANK IS ON IRAQIYA TV NEWS DISCUSSING THE CHANGES OF THE IQD EXCHANGE RATE!!!"............F26
Professor Frank Gunter launches a new white paper on de dollarisation of Iraqi economy.
29th May 2024
‘Two Cheers for Iraq: The Dinar – Dollar Exchange Rate Challenges’
Professor Frank Gunter publishes a new paper commissioned as part of a series by IBBC’s advisory council on the challenges of de-dollarisation for Iraq. The Advisory Council members and IBBC members have actively contributed to the paper in the past 4 months. It will be presented online on the 18th June in a webinar and in person at the Spring Conference on 2nd July. The Arabic translation will be published soon.
Professor Gunter provides an analysis of the drivers of impact on the dinar exchange rate and examines how best to deal with the parallel market of dinars to dollars. He outlines the practical policy initiatives that should reduce the gap between the official and parallel exchange rates in the medium-term.
In particular he lauds the Government of Iraq on its commitment to tackle corruption and to modernise the banking system in one fell swoop but warns of the pressure on the dinar exchange rate as budgets are overstretched and the new banking recipients (state banks) receive the liquidity to enable the economy to perform.
He writes ‘All three of these forces – the anti-corruption effort, the banking liberalization, and the lavish 2023-2025 budget – will create challenges for the management of the dinar exchange rate. One could argue that over the last two decades the Government of Iraq (GoI) had little control over its exchange rate; that exchange rate policy was determined by other sectors of the political economy in Iraq. But even if this is true, the level of the exchange rate and changes in that level are believed by many Iraqis and foreigners as providing valuable insight into the quality of economic management in Iraq.
This importance is exemplified by the current efforts to de-dollarize the Iraqi economy while there is excess demand for dollars. This excess demand is shown by a parallel exchange rate of roughly 1500 dinars per dollar compared to the official exchange rate of 1310 dinars per dollar.
An important cause of this exchange rate gap is that the GoI, with the strong encouragement of the U.S. Federal Reserve, is attempting to reduce the use of the U.S. dollar in both Iraq’s internal economy and its external transactions. Since 2003, the U.S. dollar has facilitated economic growth in Iraq by providing a widely accepted medium of exchange for purchases as well as a reliable store of value for savings. In the long run, whether de-dollarization will have a significant adverse impact on the Iraq economy will depend on how rapidly the GoI can increase both the efficiency of alternative mediums of exchange and the perceived security of alternative stores of value.’
The report is available here to download.
https://iraqbritainbusiness.or.....qi-economy
Together we build Iraq
The Iraq Britain Business Council brings together business, trade and investment from the UK and International companies, for the benefit of the Republic of Iraq and its members. Committed to a free, prosperous and diverse Iraq, IBBC creates strong relationships with Iraq, from Government to private companies, to benefit business, industry and the people of Iraq.
IBBC
************
Frank26: "VERY IMPORTANT TOOL FOR THE MONETARY REFORM".............F26
Visa unveils new digital products
5/29/2024
Today as part of the annual Visa Payments Forum in the Central and Eastern Europe, Middle East and Africa region, Visa unveiled a package of new products and services that drive a radical transformation in card services and meet the future needs of its customers, consumers, merchants and financial institutions throughout the region.
As payment methods have changed over the past five years from what they were previously, these new innovations will provide unique payment experiences to create a qualitative shift in commercial and financial activity, including e-commerce, in-store shopping, and money transfers.
“The dramatic acceleration in the growth of digital payments across the Central and Eastern Europe, Middle East and Africa (CEMEA) region has significantly transformed the way we pay and collect money online and in stores,” said Andrew Torrey, Visa’s Regional President for CEE, Middle East and Africa. “
As we continue our mission In shaping the future of commerce, we are pleased to support our customers, partners, consumers and merchants with the next generation of pioneering digital payment experiences and today we unveil new card features and digital innovations that will provide consumers and merchants with more personalized, convenient, secure and comprehensive solutions.”
Visa offers a range of innovative solutions that support digital identity, seamless payment experiences, flexible payments, accepting digital payments for microbusinesses, and protecting the security of account-to-account payments. Additionally, Visa announced the launch of its new payments-as-a-service platform, Visa Pay, which provides world-class mobile experiences for digital payments and intra-remittance transfers across the Central and Eastern Europe and Middle East Africa regions. This platform includes a comprehensive set of payment capabilities, and allows banks to deploy innovative and rapid solutions including digital card issuance requests, payment initiation order management, click-through payment, fraud and risk management, digital wallet platforms, and many more.
The new products and services Visa unveiled today, which will begin rolling out later this year, include:
Flexible Visa credentials
The provision of flexible credentials from Visa will allow customers to switch between different payment methods using a single card, providing greater choice for customers who can now set specific payment criteria or choose one of the payment methods that include debit cards, credit cards, or pay in four instalments. , redeem reward points, or even pay in another currency. This service is scheduled to be available in the Central and Eastern Europe, Middle East and Africa regions in the coming months.
Accepting payments from micro business owners
With an estimated 120 million formal and informal small and micro business merchants unable to accept digital payments in the CEE region, Visa is developing new ways to enable digital payments using virtual cards and credentials. In this context, the company this year will provide new methods of payment via mobile devices to all merchants, including:
* USSD Push Payments: Allows digital payments via any mobile phone that supports this feature.
* Small Business Owner Acceptance: This allows money to be transferred from consumer to merchant through smartphone devices.
* Mobile tap: Any device can now become a point of sale (POS) by simply tapping a card or digital credential.
Visa Payment Passkey Service
Identifying people in the digital world has become very complex; This has naturally led to a significant increase in fraud, with online payment fraud today being seven times higher than in-person payments.
Based on the latest Fast Verification of Identity Online (FIDO) standards, the Payment Passkey service can confirm a consumer's identity and enable online payment through a quick scan of their biometrics such as their facial features or fingerprint. Visa passkeys replace one-time passwords or codes when shopping online, allowing for more seamless and secure transactions. This service also confirms the consumer's identity without interrupting the payment process, as well as enhancing security levels and reducing friction when paying digitally - through any device or website - globally.
Click to pay
Visa has launched Click to Pay to provide a more seamless and secure payment experience on a broader scale, where consumers only need their email, phone number or Visa payment passkey to complete online payments. Additionally, Visa will collaborate with card issuers in several markets around the world to enable Click to Pay and Visa Payment Passkey services on new Visa cards, reducing manual entry of card details and passwords from the moment you start using the card. The Click to Pay service is available today in the Central and Eastern Europe, Middle East and Africa regions.
Visa Protection for Account-to-Account (A2A) Payments
Visa processes more than 200 billion transactions annually and analyzes 500 data elements in each transaction to detect and stop fraud in real time. By collaborating with real-time payments (RTP) networks around the world and leveraging decades of experience, Visa is working to use artificial intelligence to reduce fraudulent attempts in account-to-account payments across these networks. Visa's P2P protection service has already identified 60% of fraud across real-time payments channels, which financial institutions in the UK and Latin America had not previously detected. This service is scheduled to be available in the Central and Eastern Europe, Middle East and Africa regions in the coming months.
Visa Pay platform
Visa Pay is a payments-as-a-service platform that allows banks to quickly launch a range of new digital services for consumers and sellers through their mobile banking apps to stay ahead of consumers' digital preferences. This platform enables digital card issuance applications, payment initiation order management, pay-per-click, risk and fraud management, tokenization, digital wallet platforms, and issuer processing through a partner.
This platform allows banks to enhance their applications on mobile phones, as consumers will enjoy world-class user experiences via mobile phone to complete digital payments and financial transfers, as well as enhance security levels and reduce fraud attempts. The Visa Pay platform is scheduled to be launched in the Central and Eastern Europe, Middle East and Africa regions in the coming months. INK
Frank26: "I BELIEVE IN MONDAY JUNE 3rd FOR THE BUDGET"..........F26
In the document.. The House of Representatives will vote next Monday on the budget schedules
5/31/2024
Representative Mustafa Sanad announced that the House of Representatives intends to vote on the financial budget tables for the year 2024.
Sanad published a copy of the session’s agenda and limited it to voting on the budget schedules, indicating that it will be held at three o’clock in the afternoon.
Sanad said, "The Finance Committee has not voted on the schedules and has not prepared its report" yet
TRANSLATION:
Republic of Iraq House of Representatives
The fifth electoral session, the third legislative year, the first legislative term
In the name of God, the most gracious, the most merciful
Agenda for session No. (27), Monday, June 3, 2024
Republic of Iraq House of Representatives
Reading verses from the Holy Quran
- Voting on the amended schedules of the Federal General Budget Law No. (13) 2024
Attached are tables (A/B/C/D/E/F). (Finance Committee).
The session begins at three in the afternoon LINK
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Frank26: "ONCE AGAIN... I BELIEVE IN JUNE 3rd FOR MANY THINGS TO COME TOGETHER."........F26
Parliamentary Finance confirms the readiness of the budget tables for voting in Monday’s session
5/31/2024
The Parliamentary Finance Committee announced its readiness to present the federal financial budget schedules for the year 2024 in the Parliament session next Monday.
The head of the committee, Atwan Al-Atwani, said in a statement, a copy of which {Al-Furat News} received, “For days, the committee has continued to study and review the 2024 budget schedules, in detail, in order to complete them in the optimal manner, and to ensure the necessary financial allocations for all sectors,” adding, “After a series of meetings Intensive, during which we hosted the relevant ministers, today we are about to complete the task of discussing and reviewing the details of these schedules, in accordance with the Federal General Budget Law for the years (2023-2024).”
Al-Atwani continued, “The Finance Committee confirms its readiness to present its final report to the House of Representatives in next Monday’s session dedicated to approving the budget schedules and its annexes,” reiterating “the great keenness to enable the federal government to implement its service and development plans and programs in a manner consistent with its government program that the House of Representatives voted on.”
We also affirm our full support for local governments, by increasing their financial allocations and ensuring the continuity of funding for projects with the aim of improving the reality of services in all governorates.” LINK
Friday “Iraq News” Posted by Clare at KTFA 5-31-2024
KTFA:
Clare: Heavy security deployment near the Green Zone in Baghdad
5/31/2024
An Iraqi security source reported, on Tuesday, that security forces were deployed heavily in the vicinity of the “Green Zone” in the center of the capital, Baghdad.
The source told "Mawazine News", "Forces from the Special Division deployed near Al-Khadraa, Al-Jardiya, and Al-Dora, without knowing the reasons."
He pointed out that "the authorities have closed the gates of the Green Zone to the public, and only those holding badges (special cards for residents or workers in the area) are allowed to enter." LINK
KTFA:
Clare: Heavy security deployment near the Green Zone in Baghdad
5/31/2024
An Iraqi security source reported, on Tuesday, that security forces were deployed heavily in the vicinity of the “Green Zone” in the center of the capital, Baghdad.
The source told "Mawazine News", "Forces from the Special Division deployed near Al-Khadraa, Al-Jardiya, and Al-Dora, without knowing the reasons."
He pointed out that "the authorities have closed the gates of the Green Zone to the public, and only those holding badges (special cards for residents or workers in the area) are allowed to enter." LINK
Clare: It will be approved in a “special” session.. Parliamentary Finance: There is no intention to return the budget schedules to the government
5/30/2024
The Parliamentary Finance Committee said on Thursday that it or the House of Representatives has no intention of returning the budget schedules for 2024 to the federal government.
Committee member Hussein Moanis explained to Shafaq News Agency, “Last Monday, the Parliamentary Finance Committee hosted the Ministers of Finance and Planning to discuss many topics related to the budget schedules, including answering the questions of the committee members regarding increasing the financial allocation to the ministries and reducing the funds allocated to the governorates.”
He added, "The two ministers answered the questions that were directed to them during their hosting in the committee," noting that "the increase in financial allocation to the ministries came due to the presence of retained funds for the ministries from last year."
Mu'nis stressed that "the project funds allocated to the governorates can be disposed of this year." He pointed out that "the Parliamentary Finance Committee will work to make financial transfers from the ministries to the governorates, in addition to reducing the percentage of the deficit present in the budget tables."
A member of the Finance Committee confirmed that “there is no intention to return the budget schedules to the government, and that the House of Representatives will discuss the budget law schedules and then they will be approved in a special session.”
The day before yesterday, Tuesday, the coordination framework stressed, during a meeting attended by Prime Minister Muhammad Shiaa Al-Sudani, the necessity of approving the budget schedules to achieve the interests of citizens and support the economic situation.
The 2024 budget, according to what Prime Minister Muhammad Shiaa Al-Sudani announced yesterday, Sunday, amounts to 211 trillion dinars, and employee salaries for the year 2024 amount to 62 trillion dinars, while the 2023 budget amounted to 199 trillion dinars and employee salaries amounted to 59 trillion dinars.
According to Al-Sudani, the revenues of the 2024 budget are estimated at “144 trillion and 336 billion dinars, while expenditures amount to 210 trillion and 936 billion dinars, while the deficit is 63 trillion and 599 billion dinars.” LINK
************
Clare: Parliamentary Finance confirms the readiness of the budget tables for voting in Monday’s session
5/31/2024
The Parliamentary Finance Committee announced its readiness to present the federal financial budget schedules for the year 2024 in the Parliament session next Monday.
The head of the committee, Atwan Al-Atwani, said in a statement, a copy of which {Al-Furat News} received, “For days, the committee has continued to study and review the 2024 budget schedules, in detail, in order to complete them in the optimal manner, and to ensure the necessary financial allocations for all sectors,” adding, “After a series of meetings Intensive, during which we hosted the relevant ministers, today we are about to complete the task of discussing and reviewing the details of these schedules, in accordance with the Federal General Budget Law for the years (2023-2024).”
Al-Atwani continued, “The Finance Committee confirms its readiness to present its final report to the House of Representatives in next Monday’s session dedicated to approving the budget schedules and its annexes,” reiterating “the great keenness to enable the federal government to implement its service and development plans and programs in a manner consistent with its government program that the House of Representatives voted on.” We also affirm our full support for local governments, by increasing their financial allocations and ensuring the continuity of funding for projects with the aim of improving the reality of services in all governorates.” LINK
Clare: Al-Sudani: The path of development will restore Iraq's historical role in global trade
5/31/2024
Prime Minister, Muhammad Shiaa Al-Sudani, confirmed that the development road project means, according to current market equations and international trade movement, a link between the East and Europe through Iraqi and Turkish lands together.
Al-Sudani, during an interview conducted by Anatolia Agency, said: In the beginning, we must look historically at Iraq’s role in trade between the East and the West over many centuries, and I am not exaggerating if I say that since prehistoric times, Mesopotamia has been an easy trade corridor whose paths trade caravans prefer to follow. And standing and trading with its metropolises, cities and urban centres.”
He stressed that the path of development is essentially to restore this historical role, and the link between the port of Al-Faw and the Turkish border, according to the current market equations and the international trade movement, means a link between the East and Europe through Iraqi and Turkish lands together.”
The Prime Minister of Iraq explained that the region is witnessing conflicts and tensions that recede at times and escalate at other times, and this prompts us to focus efforts on projects that overlap in interests and overlap in benefits.
He added: The Development Road will provide an opportunity for the emergence of industrial cities on both sides of it, which will complement the trade passing through it. Later this year, we will inaugurate the first berths at Al-Faw Port, and the flow of goods through the Development Road route will begin initially.”
He continued, saying: All indicators, economic readings and feasibility studies, say that this corridor is the least expensive and fastest among the rest of the corridors. We do not say that it is an alternative, but rather regional and international trade really needs a path of development, as it is a linking project that promotes overlap in interests and causes of economic sustainability.
Following President Erdogan's visit to Iraq, Turkish Minister of Transport and Infrastructure Abdulkadir Oraloglu said that with the operation of the development road, the volume of trade with Iraq will increase from $20 billion to $30-40 billion.
Regarding the future volume of bilateral trade between Turkey and Iraq, which is currently estimated at about 20 billion dollars, the Prime Minister of Iraq said: The increase in the volume of bilateral trade with Turkey can be expanded vertically, but we are seeking vertical expansion as well. In short, this is the role of the Development Road Project and the projects attached to it. “.
He added: Experience and history have proven that the progress of a country alone and in isolation from its neighbourhood, is something that carries an unknown future despite all possibilities and conflicts. Therefore, we focus on increasing the capacity of exchange and actual partnership (with Turkey) is the guarantor of stability and deep, long-term relations.
He continued: In our relationship with our Turkish brothers, we also focused on one of the most promising sectors in investment and cooperation, which is the agricultural sector, and soon we will witness practical steps in this aspect, and the participation of Turkish companies.”
Regarding investments in Iraqi gas fields, the Prime Minister of Iraq said, in his interview with Anadolu: “Gas investment is a strategic test for Iraq, and our national wealth must be optimally employed in serving our people and development plans.”
He added: It is not possible to continue burning gas, firstly due to the waste of this wealth that can be benefited from, and secondly due to the environmental effects. We announced a special round of licenses to invest in gas fields.
He continued, saying: We plan for Iraq to be self-sufficient in domestic gas production within 3 years, and Iraq is moving confidently to be an important element in the gas market within 5 years, and we will achieve self-sufficiency in this material at the expense of electricity production.
The Prime Minister of Iraq said: Specialists know that the existence of a technological base for gas investment is at the same time a base for the broadest petrochemical industries, and this is what we seek.”
Regarding potential partnerships in these investments, the Prime Minister of Iraq indicated that the doors are open to every reputable and specialized company that wishes to participate in this sector, and we also welcome regional companies because they will expand the base of cooperation in other areas.
He added: It is important to understand that gas investment means providing additional resources for development in Iraq, which are resources that can be invested in various promising economic rights, and these areas will be open to the participation of Turkish companies and companies of other friendly countries.
Iraq's current production of natural gas is about 2.7 billion cubic feet, and according to previous estimates, Iraq has a reserve of 132 trillion cubic feet of gas, of which 700 billion cubic feet were burned, as a result of the weak ability to exploit it.
Regarding the flow of Iraqi oil, the Iraqi Prime Minister explained that stopping the pumping of Iraqi oil extracted from the fields of the Kurdistan region of Iraq is undoubtedly a loss for Iraq, and at least it is the loss of an expected benefit that can support development plans in the provinces of the region and strengthen the Iraqi economy as a whole.
He added: He added: We took the initiative to find acceptable settlements and legal solutions and solutions after a thorough legal study, but the matter is surrounded by a legal obligation, because the Federal General Budget Law requires calculating the cost of producing one barrel of oil in all fields to be within the national average of the cost of production, which is around $8 per barrel, according to what was announced. Federal Ministry of Oil.
He continued: But the Ministry of Natural Resources in the Kurdistan Regional Government, and within the contracts signed with the oil company operating there, the cost of production is calculated at around $26 per barrel, and we suggested to Imam that the budget law be amended, or that the agreements and contracts with these companies be amended.”
The Prime Minister of Iraq continued, saying: From this standpoint, companies stopped production, as the ban did not come from the federal government, and we are waiting for a solution to be found. The companies refused to amend the contracts, while the regional government agreed.
He explained that for these reasons, more work is required to find a legal solution that first ensures the rights of Iraq and its people to its wealth.
He added: As for transporting Basra oil through Turkish ports, the matter is subject to study and determining the economic feasibility first of all.
Currently, Iraq’s oil production is approximately 4 million barrels per day, according to data from the Ministry of Oil and the Organization of the Petroleum Exporting Countries (OPEC), while it imports about 25 million liters of gas oil, gasoline, and white oil daily, in addition to natural gas.
According to previous statements by Al-Sudani, Iraq intends to be self-sufficient in oil derivatives, stop imports, and save $3.2 billion. LINK
KTFA Thurs.Night CC: “FRANK26….5-30-24…..M R BREAKDOWN”
KTFA
Thursday Night Conference Call
FRANK26….5-30-24…..M R BREAKDOWN
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#
KTFA
Thursday Night Conference Call
FRANK26….5-30-24…..M R BREAKDOWN
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#
Some “Iraq News” Posted by Clare at KTFA 5-30-2024
KTFA:
Clare: Professor Frank Gunter launches a new white paper on de dollarisation of Iraqi economy.
29th May 2024
‘Two Cheers for Iraq: The Dinar – Dollar Exchange Rate Challenges’
Professor Frank Gunter publishes a new paper commissioned as part of a series by IBBC’s advisory council on the challenges of de-dollarisation for Iraq.
The Advisory Council members and IBBC members have actively contributed to the paper in the past 4 months. It will be presented online on the 18th June in a webinar and in person at the Spring Conference on 2nd July. The Arabic translation will be published soon.
Professor Gunter provides an analysis of the drivers of impact on the dinar exchange rate and examines how best to deal with the parallel market of dinars to dollars. He outlines the practical policy initiatives that should reduce the gap between the official and parallel exchange rates in the medium-term.
KTFA:
Clare: Professor Frank Gunter launches a new white paper on de dollarisation of Iraqi economy.
29th May 2024
‘Two Cheers for Iraq: The Dinar – Dollar Exchange Rate Challenges’
Professor Frank Gunter publishes a new paper commissioned as part of a series by IBBC’s advisory council on the challenges of de-dollarisation for Iraq.
The Advisory Council members and IBBC members have actively contributed to the paper in the past 4 months. It will be presented online on the 18th June in a webinar and in person at the Spring Conference on 2nd July. The Arabic translation will be published soon.
Professor Gunter provides an analysis of the drivers of impact on the dinar exchange rate and examines how best to deal with the parallel market of dinars to dollars. He outlines the practical policy initiatives that should reduce the gap between the official and parallel exchange rates in the medium-term.
In particular he lauds the Government of Iraq on its commitment to tackle corruption and to modernise the banking system in one fell swoop but warns of the pressure on the dinar exchange rate as budgets are overstretched and the new banking recipients (state banks) receive the liquidity to enable the economy to perform.
He writes ‘All three of these forces – the anti-corruption effort, the banking liberalization, and the lavish 2023-2025 budget – will create challenges for the management of the dinar exchange rate. One could argue that over the last two decades the Government of Iraq (GoI) had little control over its exchange rate; that exchange rate policy was determined by other sectors of the political economy in Iraq. But even if this is true, the level of the exchange rate and changes in that level are believed by many Iraqis and foreigners as providing valuable insight into the quality of economic management in Iraq.
This importance is exemplified by the current efforts to de-dollarize the Iraqi economy while there is excess demand for dollars. This excess demand is shown by a parallel exchange rate of roughly 1500 dinars per dollar compared to the official exchange rate of 1310 dinars per dollar.
An important cause of this exchange rate gap is that the GoI, with the strong encouragement of the U.S. Federal Reserve, is attempting to reduce the use of the U.S. dollar in both Iraq’s internal economy and its external transactions.
Since 2003, the U.S. dollar has facilitated economic growth in Iraq by providing a widely accepted medium of exchange for purchases as well as a reliable store of value for savings. In the long run, whether de-dollarization will have a significant adverse impact on the Iraq economy will depend on how rapidly the GoI can increase both the efficiency of alternative mediums of exchange and the perceived security of alternative stores of value.’
The report is available here to download.
https://iraqbritainbusiness.or.....qi-economy
Together we build Iraq
The Iraq Britain Business Council brings together business, trade and investment from the UK and International companies, for the benefit of the Republic of Iraq and its members.
Committed to a free, prosperous and diverse Iraq, IBBC creates strong relationships with Iraq, from Government to private companies, to benefit business, industry and the people of Iraq.
IBBC
************
Clare: Al-Sudani announces the opening of 48 electrical power transmission stations throughout Iraq
5/30/2024
Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani announced the opening and operation of 200 electrical stations throughout Iraq’s regions and cities.
Al-Sudani’s media office stated in a statement that the latter opened and operated “48 electrical power transmission stations for ultra-high and high pressure, and 152 electricity distribution stations throughout all governorates of Iraq, within the first phase of a package of projects to resolve bottlenecks in electricity transmission and distribution networks in Baghdad and a number of governorates.” LINK
Clare: Hisham Al-Rikabi confirms the government's interest in restoring Iraq's status on the Arab and international levels
5/30/2024
Member of the Board of Commissioners of the Media and Communications Commission, Hisham Al-Rikabi, confirmed today, Thursday, the government’s interest in restoring Iraq’s status on the Arab and international levels.
Al-Rikabi said in a blog post on the “X” platform: “The decision to choose Iraq to head the Council of Arab Information Ministers and to host Baghdad for its fifty-fifth session came as a result of the government’s interest in restoring Iraq’s position on the Arab and international levels and the keenness of the Media and Communications Commission to develop this sector and continue consolidating the foundations of freedom of opinion and expression.” In the country." LINK
***********
Clare: Sudani: Receiving international events reflects the state of stability in Iraq
5/30/2024
Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani expressed his appreciation for the distinguished results of Iraq in the West Asian Athletics Championships held in Basra, stressing that the reception of international events reflects the state of stability in the country.
Al-Sudani said in a tweet on his website on the “X” platform: “Greetings to the athletics champions as they reap distinguished results in the West Asian Championship for women and men, which is hosted by Basra Governorate with the participation of several Arab and Asian countries.”
He added, "Hosting Arab and international sports events, in Baghdad, Basra, and our beloved governorates, reflects the state of stability that our country is witnessing in various fields, and enhances government support for the plans and programs that we have directed to advance the sports sector in general." LINK
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Clare: Iraq executes 8 terrorists
5/30/2024
A security source led by the Dhi Qar Governorate Police said today, Thursday, that the Ministry of Justice carried out the death sentence against 8 terrorists in Nasiriyah Central Prison, known as “Al-Hout” Prison.
The source stated, "Today, a team from the Ministry of Justice supervised the execution of the death sentence against 8 ISIS terrorists in Nasiriyah Central Prison (Al-Hout)," pointing out that "among those carrying out the death sentence was a terrorist nicknamed (Al-Sumaidaie)."
The source stated, "The implementation of the death sentence against the terrorists came after their rulings became final and were approved by the President of the Republic." LINK
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Clare: Customs explains the importance of implementing the single window system
5/30/2024 Baghdad - IA - Hassan Al-Fawaz
The General Authority of Customs confirmed today, Thursday, that work is underway to implement the single window system, while indicating that the system simplifies procedures for the importer and exporter, and contributes to facilitating the movement of legitimate trade.
The head of the authority, Hassan Al-Ugaili, told the Iraqi News Agency (INA): “The authority works with two systems, the developed electronic declaration system that is applied in 6 centers, and the Asycoda system, which will replace the electronic declaration system.”
Al-Ugaili explained, “The Authority has begun implementing the ASYCUDA system, which is an international system, more reliable and more robust, and therefore it will replace the electronic declarations system in all those centers, but it will be implemented successively.”
He added, "The authority is working on a single window system, which is linking all state institutions concerned with customs work in one window, so the work will be completed faster and more accurately."
He stated that "the system will simplify procedures for the importer and exporter, and will contribute to facilitating the movement of legitimate trade," adding, "This is one of the stages of the ASYCUDA system, which is access to the single window for trade." LINK
KTFA Tues. Night CC: “FRANK26…5-28-24…….FX”
KTFA
Tuesday Night Conference Call
FRANK26…5-28-24…….FX
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#
KTFA
Tuesday Night Conference Call
FRANK26…5-28-24…….FX
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#
KTFA Sun. Night CC: “FRANK26….5-26-24….DID YOU MISS ME?!”
KTFA
Sunday Night Conference Call
FRANK26….5-26-24….DID YOU MISS ME?!
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#
KTFA
Sunday Night Conference Call
FRANK26….5-26-24….DID YOU MISS ME?!
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#
Some “Iraq News” Posted by Clare at KTFA
KTFA:
Clare: The government sees clear indicators: the parallel dollar will be equal to the official one
5/26/2024 Baghdad
Today, Saturday (May 25, 2024), Mazhar Muhammad Saleh, the economic advisor to the Prime Minister, confirmed that the dollar exchange rate in the parallel market is close to matching the official price, in conjunction with the increased capacity of banks to meet requirements.
Saleh said in a press statement followed by “Baghdad Today” that “the price of the dollar will be 1320 dinars in the coming days,” noting that “the important factors that work to reduce the value of the US dollar against the Iraqi dinar in the parallel exchange market will remain centered on two important variables, the first of which is the rise Abilities of operating banks to comply with external transfer rules.
KTFA:
Clare: The government sees clear indicators: the parallel dollar will be equal to the official one
5/26/2024 Baghdad
Today, Saturday (May 25, 2024), Mazhar Muhammad Saleh, the economic advisor to the Prime Minister, confirmed that the dollar exchange rate in the parallel market is close to matching the official price, in conjunction with the increased capacity of banks to meet requirements.
Saleh said in a press statement followed by “Baghdad Today” that “the price of the dollar will be 1320 dinars in the coming days,” noting that “the important factors that work to reduce the value of the US dollar against the Iraqi dinar in the parallel exchange market will remain centered on two important variables, the first of which is the rise Abilities of operating banks to comply with external transfer rules.
He explained that "the indicators are witnessing a cumulative rise, according to which the percentage of requested and executed requests in foreign currency for the benefit of financing foreign trade for the private sector through official transfer ports has increased, which has increased to more than 85%."
For more than two months, the exchange rates of the dollar against the Iraqi dinar have stabilized around 145 thousand dinars per 100 dollars, after it was between 155 and 160 thousand dinars per 100 dollars, while the decline in the exchange rate coincided with an increase in the amount of the Central Bank’s sales of dollars. LINK
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Clare: Al-Haims announces joint cooperation to list government bonds on the Iraq Stock Exchange
5/26/2024
Baghdad - IA - Wissam Al-Mulla
Today, Sunday, Chairman of the Securities Commission, Faisal Al-Haims, announced joint cooperation with the Central Bank and the Ministry of Finance to list government bonds on the Iraq Stock Exchange.
Al-Haimas told the Iraqi News Agency (INA): “The authority is independent and affiliated with the Council of Ministers. Its work is to monitor the trading of bank shares to complete their requirements and list them in the Iraq Stock Exchange, by submitting financial statements according to the required timelines.”
He pointed out, "There has been great cooperation during the recent period with the Central Bank and the Ministry of Finance to list government bonds in the Iraq Stock Exchange." LINK
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Clare: Iraq and Iran are discussing ways to strengthen relations in the oil and energy sector
5/26/2024
The Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayyan Abdul Ghani, met on Sunday with the Ambassador of the Islamic Republic of Iran to Iraq, Muhammad Kazem Al-Sadiq.
The Ministry of Oil stated in a statement, “During the meeting, they discussed bilateral relations between the two countries in the oil and energy sector, and ways to enhance them in service of common interests.” LINK
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5/26/2024 Baghdad
Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Sunday, the government’s aspiration towards consolidating joint cooperation with Oman.
A statement issued by the Prime Minister’s Media Office, received by the Iraqi News Agency (INA), stated that “Prime Minister Muhammad Shia’ al-Sudani received today the Ambassador of the Sultanate of Oman to Iraq, Hamid bin Ahmed Aidaroos, on the occasion of the end of his work duties.”
According to the statement, Al-Sudani appreciated “the efforts made by the Omani ambassador during his tenure in Iraq,” expressing his “wishes for success in his future duties.”
He stressed "the importance of bilateral relations between the two countries, and the government's aspiration towards consolidating and developing joint cooperation at various levels," noting "the importance of coordinating efforts to confront the challenges in the region as a result of the continued aggression against Gaza and the expansion of the conflict, which has been reflected in the security and stability of the region."
For his part, Aidaroos expressed his "appreciation for the extent of the cooperation he received during his work in Iraq," stressing "his country's government's keenness to strengthen bilateral relations and raise the level of cooperation in several fields, in order to achieve the interests of the two countries and the prosperity of their people." LINK
Clare: Nechirvan Barzani: The environment is suitable for Qatari investment in Iraq and the region
5//26/2024
The President of the Kurdistan Region, Nechirvan Barzani, received today, Sunday, the Secretary-General of the Qatari Ministry of Foreign Affairs, Ahmed bin Hassan Al-Hammadi.
The Presidency of the Region said, in a statement received by Shafaq News Agency, that the meeting was attended by the Ambassador of Qatar to Iraq and the Consul General of the State of Qatar in Erbil, indicating that the two sides stressed the development of Qatar’s relations with Iraq and the Kurdistan Region, and they also talked about Qatari investment opportunities in Iraq and the Region.
The Qatari delegation affirmed its confidence in Iraq and the Kurdistan Region, and its desire to develop relations in the economic and commercial fields that Qatar is opening in Erbil.
The delegation also expressed its willingness to invest in the fields of energy, tourism, agriculture, education, health and many other fields.
Barzani congratulated the Qatari delegation on the opening of the Consulate General in the Kurdistan Region, and stressed that the environment is suitable for Qatari investment in Iraq and the Kurdistan Region, especially in infrastructure projects.
He also expressed his gratitude for the support of the State of Qatar and its assistance to Iraq and the Kurdistan Region, noting that Iraq and the Kurdistan Region have many partnerships with Qatar.
During the meeting, the situation in the region and a number of issues of common interest were also discussed. LINK
KTFA Thurs. Night CC: “FRANK26…5-23-24….SOUP’S ON”
KTFA
Thursday Night Conference Call
FRANK26…5-23-24….SOUP’S ON
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#
KTFA
Thursday Night Conference Call
FRANK26…5-23-24….SOUP’S ON
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#
KTFA Wed. Night CC: “FRANK26….5-22-24……..IT’S GUARANTEED”
KTFA
Wednesday Night Conference Call
FRANK26….5-22-24……..IT’S GUARANTEED
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#
KTFA
Wednesday Night Conference Call
FRANK26….5-22-24……..IT’S GUARANTEED
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#
KTFA Tues. Night CC: “FRANK26….5-21-24……..BOOK…KEEPING”
KTFA
Tuesday Night Conference Call
FRANK26….5-21-24……..BOOK…KEEPING
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#
KTFA
Tuesday Night Conference Call
FRANK26….5-21-24……..BOOK…KEEPING
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#
KTFA Sunday CC: “!FRANK26…..5-19-24….PRAY FOR IRAN”
KTFA
Sunday Conference Call
!FRANK26…..5-19-24….PRAY FOR IRAN
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#
KTFA
Sunday Conference Call
!FRANK26…..5-19-24….PRAY FOR IRAN
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#
Clare: Watch...the first shots of rescue teams heading to the site of the Iranian president's helicopter crash
5/19/2024
Iranian TV: Bad weather conditions in the west of the country hinder relief teams from reaching the Iranian president's helicopter
Iranian TV: The helicopter carrying the country's president has not yet been found and there is no detailed information about the accident
Iranian Emergency Authority: Sending Red Crescent rescue teams and marches to the site of the accident
Iranian Emergency Authority: We have not yet received any reports of the Iranian President’s helicopter crashing
Iranian Interior Minister: Rescue teams have not yet arrived at the scene of the accident, due to bad weather and fog. The president’s plane made a difficult landing.
Iranian Minister of Interior: We do not yet have information about the condition of the Iranian President due to weather conditions and the difficulty of reaching him.
The government IRNA agency: The Iranian president’s plane crashed in the “Dezmar Forest” in the general area between Farazgan and Julfa in East Azerbaijan province.
-It is not possible to communicate with the helicopter crew due to bad weather conditions.
Iranian Red Crescent: We sent a helicopter and rescue teams from 4 provinces, namely West Azerbaijan, East Azerbaijan, Zanjan, and Adrebil, to the difficult landing site of the helicopter that was carrying the president and his accompanying delegation.
IRNA: About an hour after the news of the accident involving the Iranian president’s helicopter was announced, rescue teams arrived at the announced location and began search operations.
IRNA: 20 rescue teams and drones were sent to the area, but due to the inability to cross the area and its mountainous and forested conditions, as well as unfavorable weather conditions, especially dense fog, the search and rescue operation will take time.
Fars Agency calls on Iranians to pray for President Raisi following reports of the crash of the helicopter in which he was traveling. LINK
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Clare: Iraq offers assistance to Iran to search for the missing president
5/19/2024 Baghdad –
Today, Sunday, Prime Minister Muhammad Shiaa Al-Sudani directed the Ministry of Interior, the Iraqi Red Crescent, and other competent authorities to present the capabilities available on the Iranian side to assist in the search for the Iranian president’s missing plane.
A statement from the media office, a copy of which was received by 964 Network , stated :
Prime Minister Muhammad Shiaa Al-Sudani directs the Ministry of Interior, the Iraqi Red Crescent, and other competent authorities to present the capabilities available to the Islamic Republic of Iran to assist in the search for the Iranian president’s plane that went missing in northern Iran.
Rescue teams are still searching for the Iranian president’s helicopter, which disappeared from radars. The authorities in Iran do not provide much information about what happened, but Iranian Interior Minister Ahmed Vahidi used the phrase “hard landing” to describe what happened to the president’s helicopter.
The Iranian Red Crescent said that the last appearance of the president’s helicopter, according to monitoring devices, was near a copper mine located in the “Dizmar” forest area between the villages of “Uzi and Pir Daoud” in East Azerbaijan province, while an Iranian official told Reuters, “We still have hope of finding the president, but “The information from the accident site is very disturbing.”
Rescue teams say that they were forced to stop aerial search operations, due to the intensity of fog in the area, and that they will continue operations by land, in rugged areas and within forests.
At the shrine of Imam Ali Ibn Musa al-Rida, in the city of Mashhad, northeast of the country, worshipers raised their hands to pray for the safety of their president, as well as at the shrine of Lady Masoumeh in the city of Qom in the center of the country. LINK