Some “Iraq News” Posted by Clare at KTFA 2-11-2025

KTFA:

Clare:  Federal Court Decides to Cancel State Order to Stop 'Controversial' Laws

2/11/2025

Federal Court: The Constitution defines the system of government and guarantees freedoms and rights in Iraq

Chief Justice of the Federal Supreme Court: No law may be enacted that conflicts with the Constitution

 Federal Supreme Court rejects appeal against general amnesty, personal status and property return laws

The Federal Supreme Court decides to cancel the state order to suspend the implementation of the general amnesty, personal status and real estate return laws  LINK

Clare:  MP calls for enacting oil and gas law to solve salary crisis

2/11/2025

Information / Baghdad .. 

Member of the Oil, Gas and Wealth Committee in Parliament, Nazim Al-Shabli, called on the federal government today, Tuesday, to expedite sending the draft oil and gas law.  

Al-Shabli told / Al-Maalouma / agency, “The legislation of the oil and gas law is sufficient to solve the crisis of salaries of the region’s employees, indicating that the law contributes greatly to stopping oil smuggling in addition to addressing the salary crisis.”

He added that "the salary crisis is ongoing until now and there is hope and a beginning to solve it after the legislation of the oil and gas law in the Council of Representatives," noting that "the region continues to smuggle oil."

He stressed "the need to expedite sending the oil and gas law to solve the giant problems between Baghdad and Erbil." LINK

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Clare:  Iraq and Kuwait announce the imminent start of the meetings of the joint technical committees

2/11/2025

Prime Minister Mohammed Shia Al-Sudani received today, Tuesday, the envoy of the Emir of the State of Kuwait, Mohammed Abdullah Abu Al-Hassan, in the presence of the Kuwaiti ambassador to Iraq.

A statement from the Prime Minister's Office, a copy of which was received by {Al Furat News}, stated that "during the meeting, bilateral relations between the two countries were discussed, and ways to enhance and develop them, as the Kuwaiti envoy conveyed the greetings of the Emir of the State of Kuwait, Mishal Al-Ahmad Al-Jaber Al-Sabah, to the Prime Minister, and his country's satisfaction with the approach taken by the Iraqi government to resolve the common issues with his country."

The statement added that "the meeting witnessed an emphasis on the continuation of dialogue between the two brotherly countries, as it is the best way to settle the remaining files, as they will be discussed during the meetings of the joint technical committees that will start soon, and that the next stage will witness more bilateral dialogues and discussions."   LINK

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Clare:  Finance Minister stresses importance of regional and international cooperation to address growing economic challenges

2/11/2025 Baghdad

Finance Minister Taif Sami stressed, on Tuesday, the importance of regional and international cooperation to confront the growing economic challenges.

During her participation in the 9th Arab Public Finance Forum, organized by the UAE Ministry of Finance in cooperation with the Arab Monetary Fund and the International Monetary Fund, as part of the preliminary day of the World Government Summit 2025, with the participation of Arab finance ministers, economic experts and officials from international and regional financial institutions, according to a statement received by "Al-Eqtisad News",

The Minister of Finance stated, "The importance of adopting flexible financial policies to confront the growing economic challenges and achieve a balance between the requirements of development, financial sustainability and climate action has become an urgent necessity in light of the uncertainty witnessed by the global economy."

She touched on "the importance of structural reforms in enhancing financial stability and achieving sustainability of public spending," stressing "the need to develop financial policy tools to improve spending efficiency and enhance financial transparency."

She stressed "the importance of regional and international cooperation to support the efforts of Arab countries to confront economic challenges and achieve sustainable development."

The statement added that "the forum, held under the title (Public Finance Resilience in an Uncertain World), discussed ways to achieve this balance, through four sessions that discuss the most prominent economic challenges, including the effects of the macroeconomy on public finance, debt pressures, financial policies to adapt to climate change, and developing tax systems to keep pace with economic transformations."

Participants in the forum discussed mechanisms for financing sustainable development, the role of regional and international financial institutions in supporting Arab countries to achieve their economic goals, in addition to discussing the opportunities and challenges associated with adopting modern financial technologies to enhance digital transformation in the financial sector.

The forum concludes with a ministerial roundtable that brings together Arab finance ministers and officials from the International Monetary Fund and the Arab Monetary Fund to discuss mechanisms for regional financial cooperation and priorities for the next stage in economic and financial policies.LINK

Clare:  15 years of false promises... “Our money was lost between the Central Bank and Warka Bank”

2/11/2025 News - Local

Dozens of citizens demonstrated today, Tuesday, in front of the Central Bank in the center of Baghdad To claim their money deposited in Warka Bank for 15 years.

The correspondent said Sumerian News: “Dozens of citizens demonstrated this morning in front of the Central Bank gate.Iraqi in street Al-Rasheed, central Baghdad, to demand the bank's intervention to put an end to their ongoing suffering, as Al-Warka Bank, despite promises, refuses to pay depositors' money, the value of which has fallen by more than half in more than 15 years.

The reporter added, "The demonstrators appealed to all...Governments The previous and current Parliament to no avail, after their failure to appeal to the Central Bank and make false promises to pay their money,” noting that they “described what is happening as a stain on the brow of the banking system.”Iraqi In general and the Central Bank in particular.

 He said, "The demonstrators confirmed that their last resort is to appeal to the religious authority to intervene to put an end to their suffering."

 It is noteworthy that the Central Bank Iraqi He took previous measures against Al-Warka Bank, but to no avail, after his failure to provide solutions to the depositors.   LINK

Some “Iraq News” Posted by Clare at KTFA 2-10-2025

KTFA:

Clare:  Iraq's revenues exceed 135 trillion dinars in 11 months

2/10/2025  Baghdad

The Ministry of Finance revealed, on Monday, that the volume of revenues in the federal budget during 11 months exceeded 135 trillion dinars.

Al-Eqtisad News followed the data and tables issued by the Ministry of Finance in February 2025 for the accounts from January to November 2024 for the past fiscal year, which showed that revenues from oil stabilized at about 88%, but it still constitutes the main resource for the general budget, indicating that the rentier economy is the basis of the country's general budget.

The financial tables showed that the total revenues for the eleven months of last year amounted to 135 trillion, 322 billion, 716 million, 694 thousand, and 603 dinars, indicating that the total advances amounted to 17 trillion, 352 billion, 387 million, 556 thousand, and 226 dinars. 

According to the financial tables, oil revenues amounted to 119 trillion, 33 billion, 253 million, and 845 thousand dinars, which constitutes 88% of the general budget, while non-oil revenues amounted to 16 trillion, 289 billion, 462 million, and 848 thousand dinars, which constitutes 12% of Iraq’s general budget.  LINK

Clare:  Parliamentary Finance Committee reassures employees and retirees: Delay in budget schedules does not affect salaries

2/10/25

The Parliamentary Finance Committee reassured employees and retirees that the delay in the arrival of the 2025 budget schedules does not affect the distribution of salaries.

Committee member Jamal Kojer explained in a press statement that "the date of the budget schedules reaching parliament is still unknown."

He added that "despite this, salaries are secured as amounts and liquidity, and there is no delay in their distribution so far."   LINK

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Clare:  Trump: US debt may be less than reported due to fraud

2/10/2025   Economy News - 

US President Donald Trump said on Sunday that his administration is reviewing US Treasury debt payments to uncover any potential fraud, suggesting that the total national debt of $36 trillion may be less than the announced figure.

Speaking to reporters aboard Air Force One, Trump said his administration was scrutinizing government spending records to detect unnecessary spending, and had recently begun focusing on debt payments, which are a key part of the global financial system.

Trump added that his administration is reviewing US Treasury bonds, indicating that there may be problems with them. He added: "There may be a problem, you've been reading about it, and it may be interesting."

"It's possible that a lot of these things are not being accounted for, in other words, we may discover that some of these transactions are very fraudulent, which means that the total debt may be less than we thought," Trump continued.

It was not clear whether Trump was referring to debt service payments or any other government payments made by the Treasury Department.

US debt value

The U.S. national debt currently stands at $36.2 trillion, according to the U.S. Treasury Department, or more than 120% of gross domestic product. Because the U.S. government is spending more than it takes in, President Donald Trump and Republicans, who control Congress, will have to approve more borrowing this year to avoid a default, a scenario that could be disastrous for the economy.

Independent budget monitors have warned that Trump's proposed tax cuts could add trillions of dollars to the national debt, further straining the country's finances.

US President Donald Trump has tasked businessman Elon Musk with a sweeping overhaul of the federal government, sparking protests on the streets of Washington amid accusations that the administration is breaking laws.

Musk's Department of Government Efficiency has disrupted the work of several federal agencies and raised privacy and security concerns because of his access to sensitive records related to government salaries and spending.

In a legal development, a federal judge issued a temporary injunction Saturday blocking Musk's team from accessing government systems that process trillions of dollars in payments, citing potential risks of unlawful disclosure of sensitive information.

After the court ruling, Elon Musk called for the “do not pay” list of entities that should not receive government payments to be updated at least weekly, if not daily.

For his part, US Treasury Secretary Scott Bessent, a Trump appointee, confirmed last week that Musk's team has "read-only" access to the payments system, meaning he cannot make any changes.

Meanwhile, while courts have blocked Trump’s attempt to freeze broad domestic aid, project managers across the country say billions of dollars remain stuck, affecting clean energy and transportation projects.   LINK

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Clare:  In light of the liquidity crisis... Why doesn't Iraq resort to printing more currency?

Sami Al-Salehi Journalist   Published in Saturday 8 February 2025

Iraq is facing increasing challenges due to the scarcity of cash liquidity, which negatively affects the markets and daily financial transactions. While some are looking for quick solutions to overcome this crisis, the option of printing more local currency remains controversial, given the serious economic repercussions that may result from it.

The Iraqi government faces challenges in managing cash liquidity in dinars, as it suffers from a chronic shortage of this currency, which affects its ability to meet its financial obligations to pay employee salaries, repay debts, and finance projects.

Since the 1990s, and specifically during the period of the economic blockade, Iraq has witnessed hyperinflation in its national currency (the dinar). This situation prompted the ruling regime at the time to take the decision to print the currency locally.

After 2003, the previously circulating currency was disposed of, new denominations with updated designs were issued, and the exchange rate of the Iraqi dinar was fixed against the US dollar based on a decision by the then civil governor of Iraq, Paul Bremer, who in turn announced the details of the new currency and its official exchange rate.

Iraq currently has a range of paper denominations that cater to various daily transactions, starting from small denominations such as 250, 500 and 1,000 dinars, all the way to larger denominations such as 5,000, 10,000, 25,000 and even 50,000 dinars that are used in major transactions.

Where is the Iraqi currency printed?

On January 19, 2025, the Central Bank of Iraq revealed new security features on circulating banknotes, with the aim of reducing counterfeiting and protecting the national currency.

According to economic observers, the Central Bank has included these signs in the new banknotes to raise awareness among the public, companies and banks alike.

A source in the Central Bank of Iraq spoke about details related to the process of printing Iraqi banknotes, indicating that “the currency was previously printed in Switzerland, but the printing is currently done at the British Institute in London,” which is considered one of the most prominent institutions specialized in printing currencies globally. 

In an interview with Al-Jabal platform, the source explained that “Iraqi banknotes are manufactured according to high-quality specifications, aiming to prevent their rapid damage and ensure their ability to withstand daily use for long periods, through the use of modern materials and technologies that increase their lifespan.”

According to the same source, “the cost of printing one banknote ranges between 4 and 5 US cents, a cost that includes the use of the latest security technologies to prevent counterfeiting, such as watermarks, optically variable inks, and security threads.

In contrast, the Central Bank confirms that currency printing operations are subject to strict standards to ensure their quality and durability. The design of banknotes is also updated from time to time according to technical and security needs, to ensure the currency is protected from counterfeiting and improve its technological properties.

An option on the government's table

In addition, Mazhar Mohammed Saleh, the economic advisor to the Iraqi Prime Minister, says, “Financing the deficit in the general budget through the issuance of cash is a cautious approach, but it remains a possible option in light of the availability of high foreign reserves, capable of covering the money supply of the national currency by no less than 75%.”

Saleh added, during his interview with the “Al-Jabal” platform, that “resorting to this method is temporary and periodic, as 40% to 50% of the issued cash is directed towards internal transactions, not just external transactions, which makes it an available option when needed, provided that the coverage rate remains high according to the mentioned standards.”

Saleh continues his talk by saying: “The monetary policy in Iraq is proceeding according to balanced standards with the fiscal policy, and is consistent with the cycle of oil assets. In the event that oil prices fall to low levels, it is possible to resort to financing the deficit by borrowing from banks and deducting the borrowings from the monetary issuance authority, provided that the coverage equation is maintained until the end of the cycle of falling prices.”

Saleh points out that "the decline in oil prices to below their real value in energy markets is not unusual, and it happens sometimes, which requires dealing with it through balanced monetary and financial mechanisms to ensure the stability of the national economy."

It is noteworthy that the Central Bank of Iraq issued, in 2018, a second edition of banknotes in denominations (25,000, 10,000, 1,000, 500, 250).

The Central Bank also previously added some technical and technological updates to the 2003 issue for all types of local currency, except for the (50) dinar category, which was withdrawn from circulation in 2015, while at the end of 2015 it issued the (50,000) dinar category to complete the current series in circulation.

Pros and cons of printing

In this regard, financial expert Jalil Al-Lami said, during his interview with Al-Jabal platform, that “the issue of printing local currency is one of the most sensitive economic policies, given its direct impact on the financial and economic stability in the country.”

Iraq, according to Lami, sometimes faces cash liquidity crises due to economic and political challenges. Technically, it can resort to printing currency to cover the deficit, but this does not depend only on technical capacity, but is subject to complex economic determinants such as the level of foreign exchange reserves, the monetary policy of the Central Bank of Iraq, and general economic stability.

Al-Lami added that "the Central Bank of Iraq, as the only body authorized to issue the currency, adheres to strict standards to ensure that it does not harm the national economy," warning against "unstudied monetary expansion, which could lead to dire economic consequences."

Regarding the positives of printing currency, Al-Lami reviewed some of the potential positives of printing currency, including providing quick cash liquidity, which helps finance salaries and projects and pay urgent obligations, in addition to supporting the economy in crises such as wars or epidemics, in addition to stimulating local demand by increasing the money supply.

Regarding the negatives of printing currency, Al-Lami believes that it may lead to hyperinflation, as when currency is issued without real economic cover, it leads to an uncontrolled rise in prices, in addition to a loss of confidence in the national currency, in addition to the deterioration of the exchange rate as a result of the increase in the money supply without sufficient economic support, and the gap between wages and prices may widen.

Al-Lami suggested a number of sustainable solutions that could help Iraq confront liquidity crises without resorting to printing currency, including “reforming the tax system by improving tax collection and reducing tax evasion to increase government revenues and diversify sources of income, in addition to internal and external borrowing and reducing unnecessary expenses.”

Other proposals, according to Al-Lami, include “enhancing foreign investment and reforming the financial and banking sector.”

The former governor of the Central Bank, Mustafa Makhif, announced in 2022 that "the bank is working on completing a new denomination worth 20,000 dinars based on a study and comparative research with neighboring countries, and is working on completing the shape of the note and it will be announced in the coming days."

At the time, he also spoke about the “issue of deleting zeros from the local currency,” and stressed that “the process of deleting zeros from the currency requires enacting a law and making some amendments.”

Numbers and statistics

The Iraqi government decided to change the exchange rate of the Iraqi dinar against the US dollar in 2020, as the price was adjusted from 1,182 dinars per dollar to 1,450 dinars per dollar.

This decision sparked widespread popular discontent, especially after the prices of food and all commodities in the markets witnessed a significant increase, and this change was confirmed in the federal budget approved by the Iraqi Council of Representatives on March 31, 2021.

Data from economist Nabil Al-Tamimi indicate that printing any currency clearly contributes to increasing inflation, as the increase in the volume of cash in circulation leads to an increase in prices. Therefore, countries are keen to avoid printing money to cover the deficit in their budgets except in limited and studied proportions, through which they try to achieve a balance between the volume of cash circulation and economic activity, i.e. the gross domestic product, which is known as natural inflation.

Al-Tamimi continued, in his interview with Al-Jabal platform, saying: “In some cases, monetary authorities may resort to withdrawing part of the cash and drying up the markets to control inflation, despite the economic slowdown that may result from that.”

According to Al-Tamimi, “Increasing the volume of printing leads to an increase in demand for hard currency, especially in countries that depend on importing goods and services, such as Iraq. The more local currency in circulation in dinars, the higher consumer spending, and most of this spending goes to imported goods and services that are paid for in foreign currency, which leads to an increase in demand for the dollar.”

In a free market, Tamimi said, “this could lead to fluctuations in the exchange rate, but if the central bank intervenes through a currency auction, the daily sales volume will increase to maintain monetary stability.” Data indicates that the Iraqi central bank’s dollar sales have reached about $300 million a day, compared with about $180 million a day in previous years.

He added, "The Central Bank of Iraq relies on its foreign currency reserves on government revenues from oil sales, which change according to the fluctuations of the oil market, as the reserve ranges between 50 and 100 billion dollars. To ensure monetary stability, the Central Bank's accounts must be based on the minimum reserve, i.e. 50 billion dollars, to cover imports and control local demand for hard currency at approximately this level."

Al-Tamimi concluded his speech by saying, “The period from 2003 to 2019 witnessed a relatively balanced monetary policy regarding printing currency, as the total issued currency during this period amounted to about 55 trillion dinars. However, the monetary policy during 2020 and 2021 led to clear inflation, with the volume of issued currency doubling to more than 100 trillion dinars. This was reflected in a significant increase in prices, as the inflation rate reached about 15%.”

Many years ago, the Director of Issuance at the Central Bank, Ihsan Al-Yasiri, said, “The Central Bank of Iraq prints a thousand 25,000-dinar notes in the most reliable international companies at a cost of less than $60,” noting that “the bank will not spend a large amount of cash to print the new banknotes, because their cost is low.”  LINK

Clare:  "From Cradle to Ruin"...an exhibition that embodies Iraq's journey in Jerusalem

2/9/2025

In  exceptional event, the Museum of Islamic Art in Jerusalem hosts an exhibition entitled “From Cradle to Ruin,” which tells the story of Iraq through contemporary artworks by Iraqi artists .

The Israeli newspaper, "The Jerusalem Post", reported in a report translated by Shafaq News Agency, that "an American officer contributed to purchasing these artworks to sell them to artists in the United States. After that, an Israeli-American artist of Iraqi origin intervened to purchase the works and facilitate their display in Israel."

He pointed out that "the exhibition is about Iraqi art and that part of the credit for organizing it goes to the efforts of the Israeli-American artist of Iraqi origin, Oded Halhami, who is 86 years old and resides in New York City."

The report explained that "Oded runs his own gallery in New York, specifically in the Soho neighborhood, and devotes much of his effort to his art gallery, including providing a space for Iraqi artists to display their work and introduce the world to another side of Iraq that is not associated with the violence and death that appears in the news."

The report quoted the museum's director general, Gilad Levin, as saying, "Iraqis are very proud of their culture. Iraq is the cradle of human culture and history, and that is why we chose this title," explaining that "this is the place where the oldest cultures in human history began."

Levian added, "Iraq has witnessed ups and downs throughout its history, but he stressed that heritage exists within the people regardless of the ruling regime."

The report referred to Oded's passion and keen interest in this exhibition, as there is a text on the opening wall near the entrance to the exhibition hall, quoting his words in which he says, "It seems that I left Iraq, but Iraq never left me."

The report also quoted Levian as saying, “Oded lives his Iraqi identity, and lives this culture through the books he writes, the art he creates, and the clothes he wears,” indicating that “Oded surprised me… We had never met before, but we had talked on the phone for years, and he makes his own clothes, clothes in the traditional Iraqi style.”

He explained that "the title of the exhibition refers to the hardships and disasters that Iraq has gone through over the centuries, especially in the last fifty years, following the rise of Saddam Hussein's regime to power in the late seventies."

The report pointed out “a wonderful dramatic story related to the exhibition, which is the story of an American soldier who loved art while serving on a military mission in Iraq, where he obtained permission from his commander to follow local artists and transfer some of their works to the United States, then arrange for the sale and delivery of the financial proceeds to the artists who were struggling in difficult circumstances. When Oded heard about this initiative, he included this idea in his charitable works.”

While Levian said that Oded "told them that he would display the works in his gallery, and that he would buy any artworks that were not sold," hence the opening of the exhibition of Iraqi works at the Islamic Museum in Jerusalem .

The report continued, "Oded also owns a collection of artworks that reflect the depth of anxiety in Iraqi society at the present time, in addition to the cultural richness of Iraq that extends back thousands of years."

"Oded, in his octogenarian years, calls two of his exhibits Mercy for Baghdad, and they reflect the Iraqi national tricolour flag, whose design has been modified several times since the 1960s, and refer to a pre-Gulf War version of the flag with three stars, and the version introduced by Saddam Hussein that includes the phrase 'God is Great' instead of stars," he added.

The exhibition includes works that reflect Iraq's long and winding road and attempts to heal the rift and wounds, while Levian says that "when Iraq is damaged, it is on a large scale. But it always recovers."

The report indicated that the exhibition may be surprising to many who know Iraq only through the prevailing media images of it, and perhaps visitors will be able to learn about aspects of Iraqi culture through the memories they heard from elderly people who immigrated from Iraq in the early fifties and their children .

The report continued, "There is a painting representing three men embodying an atmosphere of close friendship and mutual respect in a café on the banks of the Tigris River, where people, especially men, would gather to smoke a hookah, drink coffee or tea, and play backgammon."

He said, “There is a miniature image of that atmosphere in the exhibition through a painting by the artist Fadhel Abbas,” pointing out “an amazing painting that reflects the artwork of the Mexican artist Frida Kahlo, a painting by the artist Naziha Rashid that depicts a woman with dark, strong eyes that reflect a feeling of inner strength.”

The exhibition also includes a collection of miniature oil paintings by artist Amal Alwan that convey a sense of daily life, including a scene of a riverside café .

The idea of ​​destruction in the work “Night of Fire” by artist Mohammed Al-Hamdani shows what the American army did when it bombed Baghdad during the Second Gulf War in 2003 .

The report concluded by saying, "The Iraqi exhibition at the Museum of Islamic Art in Jerusalem represents a wonderful and rare opportunity to understand the spirit of the current era in Iraq." LINK

FRANK26…..2-7-25……BANKS PREPARED

KTFA

Friday Night Conference Call

FRANK26…..2-7-25……BANKS PREPARED

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

Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.  

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

https://www.youtube.com/watch?v=9h5176TVPCI

FRANK26….2-6-25 DON’T BE GREEDY

KTFA

Thursday Night Conference Call

FRANK26….2-6-25 DON’T BE GREEDY

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

Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.  

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

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

https://www.youtube.com/watch?v=xPiTW-O1-7E

Some “Iraq News” Posted by Clare at KTFA 2-5-2025

KTFA:

Clare:  Prime Minister Approves New Date for Iraq Investment Forum

2/3/2025  Baghdad – 

Prime Minister Mohammed Shia Al-Sudani has approved a new date for the Iraq Investment Forum, scheduled to take place from April 12-13, 2025.
 
According to a letter from the Prime Minister's office, received by The Iraq News Agency-INA , "The Prime Minister's approval has been granted to hold the Iraq Investment Forum on April 12-13, 2025, for the necessary arrangements in light of the Prime Minister's approval."  LINK

Clare: Iraq is heading to implement the first historical transfer operation through the international (TIR) system

2/5/2025  Baghdad-

The International Road Transport Union (IRU) announced during its visit last week that Iraq is heading towards implementing the first historic transport operation through the international road transport system (TIR).

The union stated in a statement, followed by the Iraqi News Agency (INA), that "a delegation from the International Road Transport Union (IRU) visited Iraq last week to lay the foundation for the first cross-border transport movement in the country within the international road transport system (TIR).

It explained that "Iraq is close to achieving a historic achievement in cross-border trade, as the first transport operation under the umbrella of the international road transport system is expected to take place soon, as this event represents a turning point for the country and a major step towards full integration into the recognized international system for customs transit."

It added that "during the past week, the International Road Transport Union (IRU) held key discussions with stakeholders in the public and private sectors, reinforcing Iraq's commitment to modernizing the trade sector and adopting international best practices."

It pointed out that "a specialized workshop was organized during the visit, focusing on the importance of international agreements of the United Nations, such as the TIR Convention and the European Convention on the International Carriage of Dangerous Goods by Road. Experts highlighted the vital role of these agreements in simplifying cross-border trade, enhancing trade security, and reducing road accidents. Discussions also addressed the importance of professional excellence in the land transport sector and developing strong regulatory frameworks to support it."

The statement continued that "cooperation between the public and private sectors was one of the main themes of the meetings, as its essential role in achieving these goals was emphasized," noting that "effective coordination between government authorities and the private sector is a crucial factor in ensuring the smooth implementation of the TIR Convention and the European Convention on the International Carriage of Dangerous Goods by Road, which enhances Iraq's position in regional and global trade."

It concluded that "as Iraq prepares for this achievement, it stands on the threshold of a new era in the field of transport and international trade, as it adopts global best practices to enhance efficiency, security, and economic growth."  LINK

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Clare: Confirming Shafaq News news.. Al-Sudani calls on the State Administration Coalition to hold a meeting in Baghdad

2/5/2025

Prime Minister Mohammed Shia al-Sudani called on Wednesday for members of the State Administration Coalition to hold a meeting at the government palace next Saturday, February 8, 2025.

A statement issued by Al-Sudani's office explained that the latter's call for holding the meeting aims to "discuss the general situation in the country and examine a number of files at the national level."

The State Administration Coalition called for an emergency meeting next Saturday at the government palace in the capital, Baghdad, to discuss a group of "important" issues.

An informed source told Shafaq News Agency that the most important of these issues is the recent escalation against the Federal Court after it issued the federal order to stop the implementation of the three controversial laws.

The Iraqi political arena has witnessed rapid development since yesterday, Tuesday, after the Federal Court issued a judicial order to stop the implementation of the general amnesty laws, amend the Personal Status Law, and return the properties to their owners in Kirkuk.

This decision prompted the Sunni forces to escalate their stance against the court, as official work was suspended in three Sunni provinces in protest against the decision, amid hints of other escalatory steps such as withdrawing from parliament and the government, and organizing protest demonstrations, the beginnings of which began in the city of Mosul today.

In contrast, the Coordination Framework announced its support for the court’s procedures, stressing its constitutional right to monitor the laws.

It is noteworthy that this decision came after a number of representatives filed an appeal regarding the parliament’s collective voting on the laws, while observers are awaiting a final decision from the court in the coming weeks.

Earlier today, the Iraqi Supreme Judicial Council issued a fatwa that it is not permissible to suspend the implementation of laws enacted by the House of Representatives before they are published in the Official Gazette, while it considered that the law amending the Personal Status Law and returning properties to their owners requires delaying the issuance of any decision related to them. It stressed that the courts in the country are obligated to implement the general amnesty law.

The "State Administration" coalition includes the Shiite parties (the Coordination Framework), the Sunni blocs (the Progress and Sovereignty Alliance), and the Kurdish parties (the Kurdistan Democratic Party, the Patriotic Union of Kurdistan), and since its formation it has aimed to support a consensus government to ensure the stability of the political process and implement agreements between the political blocs.  LINK

Clare:  The Ministry of Commerce directed to expedite the completion of financial statements for budgets of previous years.

2/5/2025  Baghdad /

 Minister of Trade Athir Dawood Al-Ghariri directed, today, Wednesday, the financial and budget departments to complete the financial data for the budgets of previous years and send them to the Financial Supervision Bureau for the purpose of approval and submission of comments, no later than the tenth of next May.

The ministry said in a statement that "Al-Ghariri stressed during an expanded meeting held in the presence of the general administrations of the grain trading and manufacturing companies, the administrations of the relevant departments, and a number of assistants to the general managers, the need to assume responsibility for preserving public money.

He pointed out that the approval of these budgets is an achievement that contributes to the return of entitlements as revenues to the general budget, in addition to limiting the companies' shares of their profits and the ministry's revenues.

The minister confirmed that the ministry has achieved a remarkable achievement by obtaining second place among government agencies in the file of combating corruption and integrity with a rate of 99.35%, which was not achieved in previous years, pointing to the adoption of the principle of reward and punishment in evaluating performance and not being lenient with the lazy who do not adhere to performance and implementation plans.   LINK

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Clare:  Trump Restores Tough Line on Iran—Includes Watch on Iraqi Banks, Gulf States Transshipment of Prohibited Goods

NSPM-2 directs the Secretary of State to “take immediate steps” to ensure Iran does not use Iraqi banks to evade sanctions or Gulf ports to transship prohibited goods.

WASHINGTON DC, United States (Kurdistan24) On Tuesday, U.S. President Donald Trump revived the tough line toward Iran that he pursued during his first term in office.This was laid out most clearly in two documents released by the White House: “National Security Presidential Memorandum/NSPM-2” and “Fact Sheet: President Donald J. Trump Restores Maximum Pressure on Iran.”NSPM-2 is addressed to 17 senior officials at 16 U.S. government agencies, including the State Department.

It contains four directions to the Secretary of State. One aims to prevent Iran from using the facilities of regional states to circumvent the renewed U.S. sanctions.

That direction has two parts. One part is to maintain a watchful eye on Iraq’s banking system, which Iran has used in the past to evade sanctions. The second part is to prevent Gulf countries from acting as transshipment routes for Iran’s import of prohibited goods.

Thus, NSPM-2 directs the Secretary of State to “take immediate steps in coordination with the Secretary of the Treasury and other relevant agencies to ensure that the Iraqi financial system is not utilized by Iran for sanctions evasion or circumvention and that Gulf countries are not used as sanctions evasion transshipment points.”

Iran as Major State Sponsor of Terrorism

The view of Iran, as expressed in NSPM-2, is the reverse of that held by the Biden administration, when it took office in January 2021. It believed then that U.S. pressure on Iran, which had been Trump’s policy, was a major source of regional instability. So, it adopted an accommodating position toward Tehran.

But that policy failed. There was no reduction in tensions, rather they increased, particularly after Hamas’s brutal Oct. 7, 2023, cross-border assault into Israel.

Eventually the Biden administration came around to the view that Iran was, indeed, an aggressive power. It posed a threat to the region and had to be contained, as President Joe Biden told Congress in his March 2024 State of the Union speech.  LINK

Sunday “News and Views” Posted by KTFA Members 2-2-2025

KTFA:

Clare: Shafaq News publishes the first amendment to the budget law for the years 2023-2025

2/2/2025

 Shafaq News Agency publishes the text of the first amendment to the Iraqi state general budget law for the years 2023-2025, which was voted on by the Council of Representatives in today's session, Sunday.

The Iraqi Council of Representatives held its fourth session of the first legislative term of the fourth legislative year this evening, Sunday, headed by the First Deputy Speaker of the Council, Mohsen Al-Mandalawi, with the attendance of 176 representatives, and the boycott of about 50 representatives.

AMENDMENT TO THE BUDGET LAW     LINK

Another_Mailman:  I believe that today was the last big hurdle that needed to be settled! Imo, the budget was already "read" the necessary amount of times and should be passed within a week. Superbowl Sunday would be great, IMO!

Clare:  THIS IS A MAJOR BREAKTHROUGH IMO. IT IS WHAT SUDANI WANTED AND HE MADE SURE IT HAPPENED TODAY! (THAT'S WHY HE HAD THOSE MEETINGS FRIDAY NIGHT.) IMO THIS IS GOOD FOR US!

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Clare:  Iraqi Parliament Approves First Amendment to General Budget Law for 2023-2025

2/2/2025

The Iraqi Parliament voted, on Sunday, on the draft law of the first amendment to the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023.

For his part, independent MP Ahmed Majeed announced in a statement to Shafaq News Agency that members of the House of Representatives from the central and southern governorates boycotted the parliament session held today, considering that voting on the budget is "a violation of the law and the internal regulations of the council due to the lack of a legal quorum."

Majeed explained that "the number of representatives present does not exceed 140 representatives, which means that the quorum is not achieved," stressing that they doubt the legitimacy of the session.

He added: "We will file an appeal with the Federal Court against the House of Representatives for violating the law and proceeding with the vote on amending the budget law."

The Iraqi Council of Representatives held its fourth session of the first legislative term of the fourth legislative year a short while ago, headed by the First Deputy Speaker of the Council, Mohsen Al-Mandalawi, with the attendance of 176 representatives, and the boycott of about 50 representatives.

A parliamentary source told Shafaq News Agency, "The representatives of the Central and Southern Front boycotted the session in protest against the amendment of the budget law. The number of representatives of the Front is about 50 representatives, most of whom are independents."

The representative of the Central and Southern Front, Raed Al-Maliki, said during a press conference held in the parliament building with the participation of the representatives and attended by a Shafaq News Agency correspondent, "We are a group of representatives from the central and southern governorates who boycotted the parliament session on Sunday because of the paragraph amending the budget law."

Al-Maliki added, "We requested that there be a joint administration with the regional government, and that companies be obligated to review contracts, and that other articles be reviewed, including Article 14 of the budget law, in addition to other articles and the deficit in the budget law."

He stressed, "Our demands relate to implementing the rights of the central and southern governorates and financing the government contracting expenses of companies contracting with local governments."

Parliament Speaker Mahmoud Al-Mashhadani, who is currently visiting the Iranian capital Tehran, announced before his departure that Parliament will approve today, Sunday, amending the general budget in accordance with the text sent by the Council of Ministers.

Earlier today, the Coordination Framework, which brings together Shiite political forces, revealed the existence of a political agreement to pass the amendment to the budget law during the session of the Iraqi parliament scheduled to be held today.

The representative of the framework, Mohammed Radhi, told Shafaq News Agency, "There is a political agreement to pass the amendment to the budget law during today's session, as the text of the amendment was mentioned by the Iraqi government. There is a political and parliamentary will and desire to support the government's steps to resolve the differences with the region."

Radi added, "The agreement to pass the amendment to the budget law came in order to push the government to expedite sending the 2025 budget schedules, as no one wants to disrupt this budget, to prevent obstructing the construction and reconstruction process, and launching many strategic and important projects during this year."

The Finance Committee of the Iraqi Council of Representatives announced yesterday, Saturday, that the Council of Representatives will vote in today’s session, Sunday, on the government’s proposal to amend Article 12 of the General Budget Law.

The draft amendment to Article 12 of the Budget Law includes two paragraphs, the first of which relates to the costs of producing and transporting the Kurdistan Region’s oil after determining the actual estimated costs through the advisory body.”

As for the second paragraph, it stipulates that if the federal and regional governments do not agree on the costs of production and transportation, the Ministry of Oil shall choose a party to determine those costs, and as a result the cost of extracting oil from the oil fields in the region shall be calculated.

In June 2023, the Iraqi Parliament voted on the draft general budget law for the fiscal years (2023, 2024, 2025).   LINK

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Clare:  After approving the budget amendment, Shakhwan Abdullah announces containing the problem of Kurdistan oil and employees’ salaries

2/2/2025

The Deputy Speaker of the Iraqi Parliament, Shakhwan Abdullah, announced on Sunday that the problems facing the export of oil from the Kurdistan Region have been contained, after passing the amendment to the federal budget law.

Abdullah said in an interview with a number of journalists, including a Shafaq News Agency correspondent, that the budget amendment came after everyone reached this conclusion, and now there are no problems facing oil exports.

He added, "Accordingly, oil will be exported from the Kurdistan Region in the future, and our goal is to contain the problem of employees' salaries."

Abdullah expressed his thanks to all the blocs, with their various names, that voted in favor of the budget bill to resume the export of oil from the Kurdistan Region, considering it "an important step to reconnect the region to global markets."

Abdullah also said, "The decision to sell oil through SOMO removed all excuses for the federal government not to send the budget." 

He added: "Despite some problems occurring during the session, everyone eventually reached a conviction to pass this project, because any amendment would have taken us back to square one, especially since this project involves three parties: the regional government, the federal government, and the oil companies."

Abdullah stressed that "there is no longer any obstacle to resuming oil exports," explaining that the project addresses issues related to oil revenues and the return of benefits to the Iraqi government and the Kurdistan Region, and also contributes to resolving disputes related to the region's salaries and oil delivery.

The agreement came after a series of meetings between the Kurdistan delegation and the Iraqi government, the last of which was last Friday.

The issue of salaries of Kurdistan employees tops the list of disputes between Baghdad and the region, especially after the decision of the Iraqi Federal Court last year obligating both the Prime Minister of the Federal Council and the President of the Kurdistan Regional Government to localize the salaries of employees and workers in the public sector in federal banks.

Baghdad confirmed its commitment to the decision, but stipulated the submission of lists of employees’ names, while the regional Ministry of Finance considered that “ambiguity surrounds how to deal with the list.”

The Kurdistan Region has been witnessing a financial crisis and a liquidity shortage since losing its most important financial resources due to the halt of oil exports to Turkey via the Ceyhan Port pipeline after Ankara's decision to stop the flow of crude following an international arbitration ruling requiring it to pay compensation to Baghdad for the damages it suffered.

In turn, the federal government faces the challenge of securing employees’ salaries due to the budget deficit rising to more than 64 trillion Iraqi dinars, while the size of the domestic debt reaches about 14.5 percent of the gross domestic product, according to official data.   LINK

Clare: The Prime Minister sponsors the ceremony of handing over the key to Baghdad, the Arab Tourism Capital 2025

2/2/2025

Prime Minister Mohammed Shia Al-Sudani sponsored the ceremony of handing over the key to Baghdad, the Arab Tourism Capital 2025.

Last December, the Arab Tourism Organization chose Baghdad as the Arab Tourism Capital for the year 2025.   LINK

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Clare:  Rafidain Bank announces the start of distributing retirees’ salaries for the month of February

2/2/2025

Rafidain Bank announced today, Sunday, the start of distributing retirees’ salaries for the current month of February through electronic payment tools.

 The bank's media office said in a statement received by {Euphrates News}, a copy of which said, "The distribution of salaries for civilian and military retirees has begun."

He pointed out that "retirees who receive text messages can go to receive their salaries from wherever they are."   LINK

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Clare: Italy invites Sudani to sign economic agreements

2/2/2025

Prime Minister Mohammed Shia Al-Sudani received today, Sunday, the Italian Ambassador to Iraq, Nicolo Fontana, where His Excellency congratulated him on assuming his new duties, wishing him success in his work.

During the meeting, they discussed bilateral relations between the two countries and support for joint cooperation in various fields and sectors. The meeting also addressed developments in the region, especially the events in Syria and the ceasefire file in both Gaza and Lebanon.

The Italian Ambassador renewed the invitation to the Prime Minister to visit Italy and work on signing a strategic agreement between the two countries, similar to the two agreements signed by Iraq with France and the United Kingdom.   LINK

FRANK26….1-31-25…….SUDANI’S MEETING....WITHOUT CHANGE !!!

KTFA

Friday Night Conference Call

FRANK26….1-31-25…….SUDANI’S MEETING....WITHOUT CHANGE !!!

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

Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.  

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

https://www.youtube.com/watch?v=eghNKDw4QcE

FRANK26….1-29-25….TRILLIONS TO BILLIONS…END OF STORY

KTFA

Wednesday Night Conference Call

FRANK26….1-29-25….TRILLIONS TO BILLIONS…END OF STORY

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

Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.  

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

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

https://www.youtube.com/watch?v=BznfiRRSyY4

Some “Iraq News” Posted by Clare at KTFA 1-29-2025

KTFA:

Clare:  Our relationship with America will become stronger with an initiative that Al-Sudani will announce soon.. Expectations of his advisor

1/29/2025

Farhad Alaa Al-Din, the Prime Minister’s advisor for foreign affairs, confirmed in an article published in the English-language Emirati newspaper “The National” that Iraq offers great opportunities for American companies in the energy sector, confirming that there are discussions with several companies, including Exxon Mobil and Chevron.

He also said that the projects allocated to American companies in the coming years are estimated at tens of billions of dollars, while he expected Prime Minister Mohammed Shia Al-Sudani to announce a pioneering financial initiative that he said could change the business landscape in Iraq and strengthen its relationship with the United States.

The advisor stated that according to Trading Economics, US exports to Iraq in 2023 amounted to $2.26 billion, an increase of 230% over 2022 and 280% over 2021, while total agricultural exports alone amounted to $357 million, which is more than double the 2022 figures and three times the 2021 figures.

Article by Farhad Alaeddin, in The National, translated by 964 Network :

With the change of administration in Washington, many observers expected uncertainty regarding US policy in the Middle East, especially towards Iraq. US President Donald Trump’s priorities clearly focused on domestic issues such as immigration, economic reform, and corporate repatriation. However, his appointment of strong leaders to key foreign policy positions indicated a continued focus on maintaining US influence abroad in general, and in the Middle East in particular.

Mr. Trump and his team have demonstrated their commitment to de-escalation, and their role in helping to broker a ceasefire in Gaza was essential even before the president took office. Mr. Trump has long been engaged in the fight against ISIS, and one of his main campaign promises was the total defeat of the terrorist group.

In a March 2024 interview, he proudly noted his leadership role in the fall of ISIS, saying he “got rid of it.” While the group has been largely physically eliminated in Iraq, where it once held vast territory, it remains a threat in remote areas and now poses a risk of resurgence in Syria, particularly after the collapse of the Assad regime. Clearly, a complete and lasting defeat of ISIS, beyond any chance of recovery, will require, and indeed will be essential, strong cooperation between Iraq and the United States.

Iraq and the United States can share many security, political, and economic issues for mutual benefit. Regionally, Iraq stands out as an anchor of stability and an important player in diplomacy. Under Prime Minister Mohammed Shia al-Sudani’s “Iraq First” policy, the country has adopted a moderate and inclusive approach that prioritizes shared interests. This position enhances the country’s influence in the region and underscores its importance as a partner for the United States in maintaining stability.

The strong and thriving U.S.-Iraq relationship promotes stability and prosperity in the region, but the U.S.-Iraq relationship extends beyond military and security cooperation, encompassing sectors as diverse as energy, agriculture, education, and economic development. Al-Sudani is currently leading Iraq through an ambitious reconstruction effort, with funding exceeding any allocation in the past two decades.

Iraq offers significant opportunities for U.S. companies in the energy sector, with discussions underway with major companies such as ExxonMobil and Chevron, along with initiatives involving General Electric, Baker Hughes, KBR, and Halliburton. Overall, projects for U.S. companies could be worth tens of billions of dollars over the next few years.

 Financial institutions, including the Export-Import Bank and the International Monetary Fund, have expressed interest in supporting these efforts.

 Notably, the prime minister is expected to announce a major financial initiative that could change the business landscape in Iraq and further strengthen its relationship with the United States.

American companies are increasingly drawn to Iraq, as evidenced by the growing activities of the US-Iraq Business Council, while the events of the American Chamber of Commerce in Iraq now attract more American companies than ever before.

According to Trading Economics, a data and forecasting firm, U.S. exports to Iraq reached $2.26 billion in 2023—a significant 230 percent increase from 2022 and 280 percent higher than 2021. Agricultural exports alone totaled $357 million, more than double the 2022 figures and three times the 2021 figures. These figures are expected to rise significantly in 2024 and 2025, and U.S. farmers, in particular, will benefit from this burgeoning trade relationship.

In addition, the Iraqi government has approved a program to send 5,000 students abroad for master’s and doctoral studies, with approximately 3,000 students to study in the United States. American universities will benefit greatly from this initiative, along with collaboration with institutions such as the American universities in Baghdad, Duhok, and Sulaymaniyah.

Al-Sudani described relations with the United States as “strategic” and “institutional,” emphasizing the depth of this partnership in his recent media appearances, and in particular, in an interview with Elaph in London, hours before Mr. Trump’s inauguration on January 20, the prime minister said that Iraq “is ready to cooperate with the new administration.” He stressed that this relationship is based on the joint strategic framework agreement between the two countries, “as well as our partnership in the international coalition to fight ISIS.”

A strong and prosperous relationship between the United States and Iraq promotes stability and prosperity in the region, benefiting the interests of both countries and their people. Through strategic cooperation in security, economics, and diplomacy, this partnership has the potential to shape a more stable and prosperous Middle East.   LINK

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Clare:  In the presence of the Kurdistan Interior Ministry.. Baghdad hosts a meeting to implement the security agreement with Iran

1/29/2025

The Iraqi National Security Advisory hosted, on Wednesday, a meeting of the Supreme Committee for Implementing the Security Agreement between the Republic of Iraq and the Islamic Republic of Iran.

An official Iraqi statement received by Shafaq News Agency stated that the National Security Advisor, Qasim Al-Araji, headed the Iraqi delegation, in the presence of the Minister of Interior of the Kurdistan Region, Reber Ahmed, and representatives of the region, while the Iranian delegation was headed by Abdul-Reza Maskarian.

The meeting witnessed a review of the measures taken by the two countries to implement the terms of the agreement, in addition to discussing the current obstacles and challenges, and the necessary measures to expedite the implementation of the agreement.

During the meeting, Al-Araji stressed the Iraqi government's keenness not to use Iraqi territory as a launching pad for attacks on neighboring countries, while it was agreed to hold a subsequent meeting in the Kurdistan Region to complete the discussions.  LINK

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Clare:  Chairman of the Finance Committee: Charting a new path to manage the financial situation in Iraq

1/29/2025  Baghdad 

The head of the Finance Committee in the House of Representatives, Atwan Al-Atwani, confirmed today, Wednesday, that the committee has placed at the top of its priorities charting a new path for managing the financial situation in the country, by enhancing non-oil revenues.  

A statement by the Finance Committee, received by "Mawazine News", stated that Al-Atwani, accompanied by the delegation currently visiting the United Kingdom, met separately with Baroness Baroness de Sousa and Director of the Oversight Unit in the British House of Commons Alex Knight, in the presence of specialists from the International Partners Foundation.  

The statement indicated that the meetings addressed the prospects for cooperation between the Finance Committee in the Iraqi Council of Representatives and the relevant committees in the British House of Commons, with the aim of exchanging experiences in legislative and oversight work in a way that serves common interests.  

Al-Atwani explained, after reviewing the structure of the British House of Commons and the House of Lords, that the Iraqi Council of Representatives needs to create permanent specialized formations of experts to chart the path of legislative work, and complete the requirements for enacting laws in a way that achieves the country's supreme interests and is consistent with development plans.  

He stressed that strengthening the legislative authority with specialized formations will contribute to maturing laws and determining the actual need for legislation, away from personal interpretations.  

Al-Atwani also stressed the need to reduce dependence on oil as a primary source of revenue, noting that Iraq has other financial resources that can form basic pillars of the budget, such as customs, taxes, investment of state assets, the communications sector, and other government services.  LINK

Clare:  The Council of Ministers issues a series of decisions to develop airports and support parliamentary elections with about 400 billion dinars

1/28/2025

Prime Minister Mohammed Shia Al-Sudani chaired the fourth regular cabinet session of the current year today, Tuesday, during which the general conditions in the country were discussed, important files and priorities of the government program were discussed, in addition to discussing the topics on the agenda and taking the necessary decisions regarding them.

 The Council of Ministers followed up on the energy file, as it approved the inclusion of the Majnoon oil field in social benefit projects, equal to what is in effect in other licensing contracts, and enabling the Ministry of Oil/Basra Oil Company to implement service projects in accordance with the mechanism set out in Cabinet Resolution (24318 of 2024) regarding the implementation of social benefit projects for licensing round contracts, as well as the Ministry of Finance allocating an amount of (10) million dollars annually from the Majnoon oil field account, to implement the projects under discussion within the planning budget of the company operating the field/Basra Oil Company.

In order to develop and organize the work of airports, the following was approved:

1. The Ministry of Transport shall contract with the specialized international consultant (International Finance Corporation IFC) to prepare the investment booklet for the management, operation and development of airports (Basra, Mosul, Dhi Qar and Najaf), in partnership with the private sector (PPP) according to a specific timetable in cooperation and coordination with the Civil Aviation Authority, and the cost of the consulting study shall be borne by the winning bidder and a portion by the relevant governorate.

2. The Ministry of Transport or the governorate (in which the airport is established) shall be responsible for contracting with the party with which the partnership is required (the winning bidder), in coordination between the aforementioned ministry and the governorate in which the airport is established.

3. The Ministry of Transport shall supervise and monitor the airports, including the revenues generated from the airport and employment in it, in coordination with the governorate in which the airport is established, which shall be the liaison with the federal government in facilitating all relevant government procedures.

4. The management of passports, customs, health, security, airport security, air traffic control, standardization and quality control at airports shall be the exclusive responsibility of the federal government.

5. Baghdad International Airport is excluded from the aforementioned paragraph (2), and the Ministry of Transport remains the contracting party with the investor.

In the same context, the Council of Ministers approved the following:

1. The Ministry of Transport/Iraqi Airways shall pay the fees due after signing the investment or partnership contract in accordance with the civil airports wage system (No. 6 of 2018).

2. The Ministry of Transport shall negotiate with investors or participants in airport management to determine the minimum amount of airport revenues that must be guaranteed by the Iraqi side, and the negotiation minutes shall be submitted to the Council of Ministers to enable the Ministry of Finance to provide the required guarantees.

3. The Ministry of Transport shall agree with the investor or participant in airport management to include a clause in the contract that includes determining the amount of compensation to be paid, in the event that the airport management or any government agency with jurisdiction terminates the investment or partnership contract by its sole will before the end of the contract term.

4. The Ministry of Transport, the Civil Aviation Authority and the Advisory Board shall prepare a draft amendment to the airports wage system No. (6 of 2018), ensuring that the issue of fees collected is addressed in accordance with the aforementioned system, in a manner consistent with the nature of contracts and the economics of the air transport market.

As part of the financial reform measures, the Council approved the preparation of a draft law stipulating that the work of the Insurance Bureau be linked to the Central Bank of Iraq, as the Bureau is one of the non-banking financial institutions that works to regulate and supervise the insurance sector, in a way that ensures its development and secures an open, transparent and financially secure market.

In the field of tax cooperation, it was agreed to authorize the Director General of the General Tax Authority at the Ministry of Finance to negotiate and initial the draft agreement to avoid double taxation and prevent evasion of taxes imposed on income and capital between the Government of the Republic of Iraq and the Government of the Sultanate of Oman, based on the provisions of the Constitution. The Ministry of Foreign Affairs shall prepare the necessary authorization document in the name of the Government of the Republic of Iraq for the Director General of the Authority, and submit it to the General Secretariat of the Council of Ministers in order to obtain the signature of the Prime Minister.

With the aim of developing trade and simplifying procedures, the Council of Ministers approved the draft (E-commerce Regulation System in Iraq).

The Council also approved the draft law amending the first law of the Sunni Endowment Diwan (56 of 2012), which was reviewed by the State Council and referred to the House of Representatives, based on the provisions of the Constitution, taking into account the observations of the Legal Department in the General Secretariat of the Council of Ministers.

As part of the government’s efforts to develop Baghdad’s heritage areas, the Council of Ministers approved the exemption of the rehabilitation project of the heritage Qishla building (Al-Aqsa Post Office) from the instructions for implementing government contracts (2 of 2014) and the controls attached thereto, and contracting with the company nominated by the Ministry of Culture, Tourism and Antiquities.

As part of the government’s efforts to resume work on stalled and suspended projects, the Council of Ministers approved the following:

1. Establishing a component (equipping medical devices, medical and office furniture with medical supplies) within the components of the (Mosul Hospital Rehabilitation) project included in the Ministry of Health's investment budget tables for the year 2023, with a new contract according to the controls, and increasing the total cost of the project.

2. Increasing the reserve amount and the total cost of the (Residential Complex in Diyala Governorate/Al-Ghalibiya) project, and increasing the amount of supervision and monitoring.

3. Increasing the reserve amount and the total cost of the (Residential Complex in Wasit Governorate/Zurbatiya) project.

4. Increasing the reserve amount for the (Construction of Classrooms) component included within the components of the (Design and Implementation of Engineering Complex Buildings) project at the University of Babylon, and increasing the amount of supervision and monitoring, and establishing a component called (the amount of increase in unpaid dues for the Classroom Construction Component), and increasing the total cost of the main project.

As part of the government's efforts to provide support for the parliamentary elections, the Council of Ministers approved the inclusion of the difference amounting to (294.370) billion dinars, within the tables of estimates of the federal general budget for the year 2025, based on the provisions of the Federal General Budget Law (13 of 2023), so that the amount becomes (398.600) billion dinars, for the purpose of covering the costs of implementing the 2025 House of Representatives elections, as an exception to the instructions for implementing government contracts (2 of 2014), and the instructions for facilitating the implementation of the budget law (1 of 2023), and amending the text of the budget law for the years (2023, 2024, and 2025) sovereign expenditures, including the House of Representatives elections.   LINK

FRANK26….1-28-25….BANK STORIES

KTFA

Tuesday Night Conference Call

FRANK26….1-28-25….BANK STORIES

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

Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.  

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

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

More “Iraq News” posted by Clare at KTFA 1-27-2025

KTFA:

Clare:  Iraq boosts financial stability with huge dollar and gold reserves in US, Europe

1/27/2025

A country that has huge reserves of hard currency is considered an economically stable country that can intervene at any time to address imbalances in the balance of payments structure. It also provides an important element in establishing the country's creditworthiness, enhances the country's credit rating in international transactions, and provides cover for its local currency.

The country that has reserves takes into account their diversification (securities, deposits, gold and bonds...) in addition to geographical distribution to reduce exposure to risks and provide returns that ensure the sustainability of these reserves.

Diversified financial assets 

In this regard, the Prime Minister's Advisor, Mazhar Mohammed Salih, explained to Shafak News Agency, "Countries seek to diversify their reserves to include different currencies and various financial assets to achieve greater stability, and the US dollar is the main reserve in the reserves of these countries, because it is the most accepted and used global currency in international transactions and the most flexible."

He added, "Most countries prefer to hold assets that provide them with a fixed and stable income, such as US or European treasury bonds that can generate annual interest, while gold does not generate fixed returns like government bonds."

Saleh pointed out that "it is difficult to deal with gold in times of crisis, as it is difficult to convert gold into liquidity quickly compared to other financial assets such as foreign currencies and bonds."

The foreign exchange reserve is the country's reserve of foreign currencies, and is called the foreign exchange reserve. The purpose of the reserve is to protect itself and maneuver with it in times of economic recession or war.

The Central Bank of Iraq announced in 2024 that Iraq has a foreign currency reserve exceeding $100 billion.

Bond investment

For his part, the economic expert and professor of economics at the University of Iraq, Abdul Rahman Al-Mashhadani, stated that “the existing reserves of hard currencies are the reserves of countries, not governments,” indicating that “Iraq possesses a group of them amounting to approximately 106 billion dollars, of which 16 billion dollars is the value of gold in these reserves, and the rest is foreign currencies.” 

Al-Mashhadani explained, during his talk to the agency, that "gold as a reserve cannot be invested except by buying and selling. Iraq sells when the price of gold rises and buys when the price falls, and thus achieves profits in this field," adding, "Its storage in international banks is subject to fees."

He pointed out that "the currency reserve is divided into more than one section, some of which are invested in US Treasury bonds in the range of 31 to 34 billion dollars, and the rest are used for debts," noting that "Iraq does not have sovereign funds like Saudi Arabia and others for surplus currencies, which are invested in various fields."

Iraq has 152.6 tons of gold reserves, which makes it 29th in the world out of 100 countries listed in the reserves table, and third in the Arab world after Saudi Arabia and Lebanon.

Foreign investment

In contrast, the financial expert and former general manager of the Central Bank, Mahmoud Dagher, pointed out that “Iraq has more than 100 billion dollars distributed among the world’s banks and central banks, especially the US Federal Reserve, the European Bank, the Bank of England in Britain, the Basel Bank in Switzerland, the Emirates, and Saudi Arabia.”

Dagher told Shafaq News Agency, "These reserves contain foreign currencies, bonds, and gold, and are managed by the Central Bank and achieve good financial returns. This is what is called foreign investment."

Coin cover

In addition, Jamal Kojer, a member of the Parliamentary Finance Committee, told the agency, "Iraq's large reserves of hard currency, including gold, provide cover for the local currency and give it stability."

Koger added, "Many bet on the fall and demise of the currency, and therefore these reserves make the central bank intervene in the event of any imbalance facing financial policy."  

Variable reserves

But the economic expert, Hilal Al-Taan, saw that “all countries of the world boast about the amount of hard currency they have as a reserve, and this currency consists of the currencies of countries such as the dollar, the euro, and the franc, as well as gold.”

Al-Taan concluded, during his interview with Shafaq News Agency, that "Iraq is among the countries that were able, after 2003, to increase their currency balance to more than 110 billion dollars, and also to increase their gold balance to more than 150 tons."

He concluded his speech by saying, "These reserves are constantly changing in terms of the returns that Iraq obtains, through investing these currencies as interest in banks and as bonds."  LINK

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Clare:  CMC and U.S. Chamber of Commerce discuss supporting the Iraqi private sector in the United States

1/27/2025  Baghdad

The Commission of Media and Communications CMC and the U.S. Chamber of Commerce discussed on Monday the support of the Iraqi private sector and its presence in the United States, stressing the importance of strengthening the presence of American technology major companies in Iraq.  

CMC stated in a statement obtained by the Iraqi News Agency (INA), that "the Chairman of CMC, Ali Al-Moayyad, received at the Commission's headquarters in Baghdad, the Chairman of the US-Iraqi Business Council and Vice President of the American Chamber of Commerce, Steve Lotus." 

 CMC added that "during the meeting, they reviewed the major transformations taking place in Iraq, including the urban revolution and the noticeable developments in infrastructure, as well as the Iraqi media experience, which is a model to be followed in the region, and the great achievements witnessed by the media sector after 2003, including the remarkable expansion in the number of media institutions."

CMC added that "the meeting discussed the importance of the communications and technology sector in supporting the Iraqi economy, as it represents the second source of state resources after the oil sector," pointing out that "during the meeting, the significant growth in the authority's resources, which tripled during the last two years, was addressed." 

 CMC pointed to "emphasizing the importance of strengthening the presence of American technology major companies in Iraq, as this represents an added value to the national economy, the transfer of modern technologies and the development of technological infrastructure," noting that "the meeting also discussed the necessary facilities to support Iraqi private sector investments and strengthen its presence in the United States, ensuring a high level of economic and technological cooperation between the two countries." 

CMC pointed out that "the meeting also reviewed opportunities for cooperation with American companies to develop the digital economy in Iraq, strengthen technological infrastructure, in addition to providing support in developing regulations and legislation that serve the private sector, and the fields of digitization and communications that are witnessing rapid developments."  LINK

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Clare:  Al-Sudani sponsors a memorandum of understanding between the Iraqi Securities and the Abu Dhabi Market

1/27/2025

On Monday, the Prime Minister of the Federal Council, Mohammed Shia Al-Sudani, sponsored the signing ceremony of a memorandum of understanding between the Iraqi Securities Commission and the Abu Dhabi Securities Market.  

His media office said in a statement received by Shafak News Agency that Al-Sudani received today the CEO of the Abu Dhabi Securities Market, Abdullah Salem Al-Nuaimi, and discussed ways of joint cooperation in the field of exchanging expertise and developing mechanisms for expanding the activities of the private sector to achieve economic growth.

The statement added that Al-Sudani sponsored the signing ceremony of a memorandum of understanding between the Securities and Exchange Commission and the Abu Dhabi Securities Market, where Faisal Wissam Al-Haimus, Chairman of the Securities and Exchange Commission, signed on the Iraqi side, and Abdullah Al-Naimi signed on the Emirati side.

The MoU includes axes of cooperation in several areas, the most important of which are enhancing and developing the monitoring of daily trading in the market, and brokerage firms, cooperation in the field of dual listing conditions and mechanisms, and in developing and using technological applications and applications and mechanisms for subscriptions and initial listings, as well as in the field of cases of suspending trading on shares and timings for re-trading, and the requirements for licensing REIT funds.

The memorandum also included the exchange of expertise in the field of training, especially the activities of supervision and information technology, trading and clearing, digital transformation and financial analysis, depositing, managing funds and portfolios and supervising them, cooperation in the field of Islamic bonds and sukuk, depositing, settlement and independent financial services, and the requirements and mechanism for opening accounts for foreign investors from outside the country.

In light of the memorandum, Emirati investments will be encouraged in establishing Iraqi companies with Emirati-Iraqi capital, and their trading in both markets will be explored, according to the statement.LINK

Clare: Baghdad and Erbil agreed.. Parliamentary consensus to pass the budget law amendment soon

1/27/2025  Baghdad

Today, Monday (January 27, 2025), the representative of the Al-Fatah Alliance, Mukhtar Al-Moussawi, confirmed that there is a parliamentary consensus to pass the amendment to the budget law during the upcoming legislative sessions.

Al-Moussawi told Baghdad Today that "there is a parliamentary agreement to pass the budget law during the upcoming sessions," noting that "there are political agreements as well as an agreement between Baghdad and Erbil on this amendment, and that the parliamentary finance committee's Meetings are continuing to agree on the final amendment formula.”

He explained that "the House of Representatives supports any agreement between Baghdad and Erbil, and we do not want the House to be a reason for obstructing negotiations and solutions."

On Thursday, January 23, 2025, the federal government denied what the Kurdistan Regional Government spokesman announced regarding submitting a proposal that differs from the Council of Ministers' amendment to the financial budget law to the House of Representatives.

Government spokesman Bassem Al-Awadi said in a statement received by Baghdad Today: “Based on the government's keenness on transparency and disclosure to citizens of the progress of its executive work, especially with regard to the budget issue, which is a fundamental pillar for implementation the obligations contained in the government program, we affirm the government's commitment to the amendments sent to the House of Representatives regarding the budget law, which takes into account the supreme national interest, and we stress that the government's representative in the House of Representatives “He stressed the necessity of not making any other amendments to the budget law that contradict the texts submitted by the Council of Ministers.”

He added, "At the same time, we deny what was stated in the statement of the spokesman for the Kurdistan Regional Government of Iraq, and we are surprised by what was stated in it regarding the claim that the representative of the federal government in the House of Representatives obstructed the amendment of the article related to the procedures for resuming oil exports from the region.”

Al-Awadi stressed "the importance of the Kurdistan Regional Government's commitment to the provisions of the Federal General Budget Law, including the delivery of financial revenues, whether oil or non-oil, to the federal government, in accordance with what is stipulated in the law and the decision of the Federal Court.”

He explained that "adherence to these procedures is a necessary step to resolve the problems related to this file and enhance cooperation between the two sides, and the federal government hopes that the House of Representatives will expedite the approval of the amendment in accordance with the text Approved by the Council of Ministers, for the benefit of Iraq, all of Iraq.”

The spokesman for the Kurdistan Regional Government said in a statement earlier today that “after a series of meetings and persistent efforts aimed at amending the federal general budget law by the Council of Representatives with the aim of resuming the export of the region’s oil, and after Completing the first and second readings, unfortunately, the draft law was not approved in the agreed-upon form at the last minute.”

He pointed out that, “What increased our surprise was that the representative of the federal government in the House of Representatives submitted a different proposal to the Council unilaterally, without prior consultation with the Kurdistan Regional Government, and without submitting it to the Federal Council of Ministers for a vote, which contradicts the previous decision of the Council of Ministers regarding the approval of the draft law amendment for the purpose of resuming the export of oil from the Kurdistan Region.”

The Kurdistan Regional Government spokesman stressed that "such attempts only serve to harm Iraq, and contribute to deepening crises instead of finding effective solutions to them. Accordingly, we declare our complete rejection of these measures and proposals, and we emphasize the necessity of presenting the agreed-upon draft law and its approval by the Federal Council of Ministers and voting on it.”LINK

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Clare: Coming from Erbil... A convoy of American military vehicles arrives at Ain al-Assad base in Anbar

1/26/2025

Information/Anbar... 
A security source in Anbar province reported on Sunday that a convoy carrying American vehicles and equipment arrived at Ain al-Assad base, coming from Erbil province.

The source told Al-Maalouma that "a large American convoy carrying American military equipment and vehicles arrived at the Ain al-Assad air base in the Al-Baghdadi area in the Hit district, west of Anbar, coming from Erbil Governorate without knowing the real Reasons behind the arrival of military reinforcements to the base building."

He added, "The convoy's movement from Erbil Governorate to Ain al-Assad base was accompanied by American aircraft flying over the areas where the convoy was located to protect it until it reached its settlement."

He explained that "American security companies are carrying out the task of delivering this equipment, while the soldiers are transported by warplanes to the Ain al-Assad air base and from there to the areas where American forces are present," stressing that "the movements of American forces' convoys have decreased significantly during the past period."  LINK