KTFA:

Clare:  Prime Minister: We are working to support investments that aim to diversify the economy away from oil

9/22/2024

Prime Minister Mohammed Shia Al-Sudani said that we are working to support investments that aim to diversify the economy away from oil, while focusing on the role of the private sector in providing job opportunities.

The Prime Minister stressed in his speech at the Future Summit on Confronting Future Challenges, which is being held on the sidelines of the 79th session of the United Nations General Assembly in New York: The need to give Iraq priority in climate financing as it is one of the most affected countries, and we have begun implementing our commitments stipulated in the National Contributions Document.

KTFA:

Clare:  Central Bank of Iraq: We are studying removing zeros from the dinar and there are no restrictions on our balances in America

9/22/2024

The Central Bank of Iraq reduced, on Sunday, its reliance on the US dollar in commercial transactions, adding that the project to remove zeros in Iraq is under continuous review and study.

Countries remove zeros from their currency to revalue their national currency and simplify financial transactions. This is done by removing a specific number of zeros from the nominal value of the currency, making it appear less inflationary and more stable.

KTFA

Clare:  Al-Sudani leaves for New York early next week to participate in the UN General Assembly meetings

9/19/2024

Government sources announced that Prime Minister Mohammed Shia al-Sudani will leave for New York early next week to participate in the meetings of the United Nations General Assembly.

The sources stated that al-Sudani will head a high-level government delegation to New York
and will deliver Iraq's speech before the United Nations General Assembly.

Al-Sudani will also meet with world leaders on the sidelines of the United Nations General Assembly meeting.   LINK

KTFA:

Clare:  Baghdad to host tomorrow the conference "Electronic Payment towards Financial Stability in Iraq"

9/13/2024

The activities of the "Electronic Payment towards Financial Stability in Iraq" conference will start tomorrow, Saturday, in the capital, Baghdad, under the patronage of Prime Minister Mohammed Shia Al-Sudani, and jointly organized by the Prime Minister's Office, the Association of Private Banks and the Central Bank of Iraq, at the Rashid Hotel and in the presence of Arab and international banking figures. LINK

KTFA:

Clare:  Citizen and exchange rate

9/9/2024  Bashir Khazal

 In economics, the external value of a currency lies in the presence of a balance or surplus in the current account of the balance of payments relative to the gross domestic product, which should indicate a stable state at a minimum, not less than 4 percent annually.

 To achieve this goal, it is necessary to rely on a sustainable increase in the annual growth rate of the gross domestic product, provided that exports exceed imports, within the country’s trade balance.

KTFA:

Clare:  Opportunities in Iraq” after overcoming “years of turmoil” at an international conference in Washington

9/7/2024

The American Atlantic Council Institute announced that it will organize a conference on Iraq in Washington on October 15, with the participation of current and former politicians and experts from the United States and Iraq, where it will address opportunities and challenges in relations, overcoming years of turmoil, with a focus on the energy sector, and diversifying the Iraqi economy. 

KTFA

Clare:  Five Oil and Gas Laws in Parliament

9/5/2024 Baghdad

The subcommittee on legislation and laws in the oil and gas sector within the parliamentary oil committee continues its efforts to update the laws related to this important sector, with the aim of improving the investment environment in Iraq. 

Member of the Oil and Gas Committee and head of the subcommittee, Ali Shaddad Al-Fares, said in an interview with “Al-Sabah” followed by “Al-Eqtisad News”, that “the committee has five laws and legislations related to the oil and gas sector, including the refineries or liquidation law, regarding which more than one meeting was held.” 

KTFA:

Clare:  The Central Bank announces the participation of Iraqi banks in external transfers in multiple currencies

August 30, 2024

 The delegation of the Central Bank of Iraq in New York announced the start of the new phase of foreign transfer operations with the participation of (13) Iraqi banks, in an important step aimed at enhancing the diversity of currencies and facilitating international transfer operations.

 This announcement came after reaching an agreement on the mechanisms for regulating these operations, as it will include dealing in the euro, Chinese yuan, Indian rupee, and UAE dirham.

KTFA:

Frank26:  "BIT'S & PIECES OF THE MONETARY REFORM ARE NOT THE TRUTH"...........F26

Clare:  FRANK WILL TALK ABOUT THIS ARTICLE ON FRIDAY'S YOUTUBE.

"Two conditions to achieve it" .. Al-Sudani's advisor rules out removing 3 zeros from the currency

8/29/2024

The Iraqi Prime Minister's advisor for economic affairs, Mazhar Mohammed Salih, ruled out the government removing three zeros from the Iraqi currency at present, noting that achieving this requires two basic conditions.