Awake-In-3D: The Global Financial System is Being Restructured to Create a New Asset-Backed Currency System

Awake-In-3D:

The Global Financial System is Being Restructured to Create a New Asset-Backed Currency System

On June 27, 2023 By Awake-In-3D

The evidence is all around us. We are witnessing a real-time transition towards an orchestrated global currency reset (GCR) as the world’s financial system is being restructured to create a new asset-backed currency system. But is this Our GCR or the final phase of total Elitist control? In the later scenario, resistance is never futile!

New Monetary and Currency Activities on a Global Scale

The United Nations Conference on Trade and Development advocated abandoning the U.S. dollar as the primary reserve currency, and the International Monetary Fund (IMF) and Bank for International Settlements (BIS) is now working on a platform for central bank digital currencies to enable instant, 24/7 transactions between countries. These are specifically Project Ice-breaker and the UniCoin Universal Monetary Unit (see links below for details).

With the new reserve currency expected to be backed with gold and other assets with intrinsic value, it is safe to say that hard money is coming back into the equation in the global financial system – in one form or another. Every Central Bank and country on earth know that the Global Fiat Currency experiment is coming to its logical conclusion as it collapses in on itself under mountains of unsustainable public and private debt. Of course, the BRICS has it’s plans for a new currency system as well.

As I have previously stated, the world is moving towards a global currency reset, and it seems like we are closer to that reality than ever before. The United Nations Conference on Trade and Development’s report in 2010 advocated for a global reserve system based on a “basket” of currencies, which would create a more stable and predictable international monetary system. This was the catalyst for what we termed Our GCR over 13 years ago. A currency and monetary system reset beyond the RV of a few currencies and historical bonds.

Today, we are witnessing the swift development of central bank digital currencies as central banks stockpile gold at an unprecedented pace.

Asset-backed CBDCs and SDRs?

One hundred fourteen countries, representing 95% of global GDP, are exploring a CBDC. The International Monetary Fund is working on a PLATFORM for central bank digital currencies to enable transactions between countries, stressing that CBDCs should be backed by assets. This is an indication that the current financial system is reorganizing and moving towards a new asset-backed currency system.

The International Monetary Fund recently made $100 billion in Special Drawing Rights (SDRs) accessible to vulnerable countries. As countries worldwide experience debt issues, the dollar’s strength has been crushing many countries economically, leading to internal unrest. The United States has been exporting inflation worldwide, forcing numerous countries to deplete their foreign-exchange reserves. Some countries, such as Pakistan and Egypt, have even resorted to barter in desperation due to the economy beginning to break down.

The upcoming BRICS summit in August is expected to centre around the new reserve currency the trading block has been working on. The BRICS group is already advocating for utilizing local currencies in global trade, and the upcoming reserve currency could be a way for nations to navigate and protect themselves from sanctions. With the new reserve currency expected to be backed with gold and other metals with intrinsic value, it is safe to say that hard money is coming back into the equation in the global financial system.

Janet Yellen warned a few weeks ago that there would be a “slow decline” in the U.S. dollar as the global reserve currency. The greenback’s share in global reserves dropped last year at ten times the average speed of the past two decades. That does not seem like a slow decline. That seems dramatic. It is safe to say that the United States is aware of this situation, even though they will never telegraph it in a big way.

Good Guy or Bad Guy Reset

As the world moves towards a new asset-backed currency system, it will be interesting to see how the Western world adapts to these changes. It is time to embrace hard money and move away from fiat currencies. The global financial system is being restructured, and change is inevitable. It is time to focus on gold, as it will eventually crush the dollar. Time is on the side of gold, and we must prepare ourselves for an inevitable global currency and monetary system reset in one form or another.

The question remains, is this the architecture for Our GCR, or is it all part of the Elitist Bankster financial system reset? Honestly, it can go either way at this time. The new infrastructure being laid is simply a tool. Those who wield this new tool will determine its ultimate purpose. Will it be used to liberate humanity from financial debt enslavement? Or, will it further tighten the noose of total control under a new, global world order of programmable currencies utilized to enforce compliance with the policies of the few onto the lives of the many?

We must be prepared to act if things go the wrong way. The choice will ultimately be ours to make. Resistance is NOT futile…

Reference Links: BIS Project Ice-Breaker | IMF UniCoin Universal Monetary Unit

https://ai3d.blog/the-global-financial-system-is-being-restructured-to-create-a-new-asset-backed-currency-system/

Iraqi News Highlights Tuesday Afternoon 6-27-23

Iraqi News Highlights Tuesday Afternoon 6-27-23

Tlm724 Administrator Bondlady’s Corner

The Ministerial Team In The Ministry Of Immigration Is Discussing With A Delegation From The Integrity Commission The Dangers Of The Phenomenon Of Financial And Administrative Corruption

Posted On2023-06-27 By Sotaliraq  The Director General of the Legal Department at the Ministry of Migration and Displacement received the Head of the Implementation Team of the National Strategy for Integrity and Anti-Corruption,

Mr. Jawdat Kazem Al-Quraishi, Head of the Team of the Integrity Commission, and his accompanying delegation, at the Ministry’s headquarters in the capital, Baghdad, in the presence of a number of specialized officials in the Ministry.

During the meeting, related issues were discussed The dangers of the phenomenon of administrative and financial corruption and the measures taken to reduce it.

The ministerial team expressed its cooperation in combating and confronting corruption crimes that require a strong will and concerted efforts to limit its spread, eliminate it and address its negative effects.  LINK

The Rise In The Exchange Rates Of The Dollar In Baghdad With The Closing Of The Stock Market

Economy  Tuesday, June 27, 2023 Baghdad / The National News Center  The exchange rates of the US dollar against the Iraqi dinar rose today, Tuesday, on the main stock exchange in the capital, Baghdad.

The correspondent of the National News Center said, “The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded an exchange rate of 147,400 dinars, compared to 100 dollars, while the prices this morning were 147,200 dinars.”

He added, "The buying and selling prices rose in the exchange shops in the local markets in Baghdad, where the selling price reached 148,000 dinars, while the purchase prices reached 147,000 dinars per 100 dollars."  https://nnciraq.com/213286/

Oil Prices Rose Amid Fears Of Declining Supplies

Economy | 09:54 - 06/27/2023  Baghdad - Mawazine News  Oil prices rose, in trading today, Tuesday, amid fears of a decline in black gold supplies to the markets.

By 09:17 Baghdad time, US West Texas Intermediate crude futures rose 0.99% to $70.06 a barrel.

While Brent crude futures rose 0.74% to $74.73 a barrel, according to Bloomberg agency data.

Upon settlement Monday, the contracts closed higher, with Brent recording a reading of $74.18 a barrel and US crude at $69.37 a barrel.

Also yesterday, Russian President Vladimir Putin extended the government's measures to deal with the ceiling for Russian oil and petroleum products prices imposed by Western countries until the end of 2023. Ended 29 / h    https://www.mawazin.net/Details.aspx?jimare=230159

 To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Goldilocks "Monitoring of the New Monetary System and more" 6-27-2023

Goldilocks and Seeds of Wisdom

RJ:  Good afternoon Dinar Recaps

Goldilocks posted links and comments today to help understand what is happening to our global financial systems:

The Office of the Comptroller of the Currency (OCC) just released Version 1.0 of its "Asset Management booklet."

It is an updated version of sound risk management that takes place between a client and a banking system.

It goes into details dealing with trust funds that are managed by Fiduciary Representatives taking on clients who have large financial asset accounts.

A Fiduciary Representative minimizes the risk of large losses for their client who possess a large asset portfolio.

© Goldilocks

https://www.jdsupra.com/legalnews/occ-updates-asset-management-booklet-6279507/

https://occ.gov/news-issuances/bulletins/2023/bulletin-2023-20.html

https://www.dol.gov/general/topic/retirement/fiduciaryresp#:~:text=The%20primary%20responsibility%20of%20fiduciaries,the%20risk%20of%20large%20losses.

https://occ.gov/news-issuances/bulletins/2023/bulletin-2023-20.html

The Global Markets Advisory Committee GMAC has a meeting scheduled for July the 17th to review how the new monetary system and policies are going. This meeting will take place at the New York Stock Exchange.

This committee will focus on topics related to U.S. Treasury market reforms, swap block thresholds, and tokenization of assets. 

These three topics have everything to do with currency exchanges my friends along with other assets. And, these meetings will be taking place on an ongoing basis.

This committee was set up to monitor and assess the needed changes taking place as we transition into our new digital economy.

Many assets are going to be transitioned from traditional banking procedures to upgraded Digital Asset Management protocols.

For the last year and a half, we have been rebuilding a new economic system from the ground up.

These new meetings will represent continued monitoring of the new monetary system.

© Goldilocks

https://www.cftc.gov/PressRoom/PressReleases/8730-23

https://www.cftc.gov/About/AdvisoryCommittees/GMAC

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"Russia Is Considering Using Dubai Crude As A Reference To Set Its Oil Prices."

When the U.S. dollar is strong, you need less U.S. dollars to buy a barrel of oil. When the U.S. dollar is weak, the price of oil rises in dollar payments.

The dollar is cratering at this point and about to level off with other Country's currencies. This shift represents a change in monetary policies representing a reset in economic oil/currency values in the East.

This decoupling decision of moving from the dollar to reference rates more comparable to Eastern Countries is a resetting of oil prices within one's own country of interest.

This affects currency valuations, and one of many reasons why we have not seen new price valuations show up on the US Debt Clock in the oil Market section.

Oil prices are currently being reset through this process, and the currency reforms taking place in our banking system and markets will be reset with silver and gold.

© Goldilocks

https://globeecho.com/news/middle-east/russia-is-considering-using-dubai-crude-as-a-reference-to-set-its-oil-prices/

https://www.babypips.com/learn/forex/us-dollar-and-oil-relationship-changing#:~:text=When%20the%20U.S.%20dollar%20is,is%20higher%20in%20dollar%20terms.

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Remember, gold, digital assets, and currencies are now tied together.

When the stock market goes to real values, you will see our digital/currencies backed by gold and tokenized with new standards move into real values.

© Goldilocks

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Revaluations are a process, and not, the push of a button.

You are in charge of that button, and not, someone else.

You will determine the price you are willing to receive on the assets you hold the day you redeem the assets you have.

Wait for your price.

© Goldilocks

~~~~~~~~~~

I really enjoy sharing with everyone the changes that are taking place to prepare us for the new economy, but I sometimes forget to share the end result.

Right now, Russia is resetting the price of their oil to reflect current settings in Dubai that will affect their exchange values in their currencies.

The Shanghai Exchange is currently using the Chinese Yuan for digital payments. This is equivalent to our Comex Market in the US.

In other words, currency revaluations in the East are currently being reset through new digital mechanisms and standardized protocols we are about to see open up to us in July under new SOFR settings.

© Goldilocks

~~~~~~~~~~

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Thank you Dinar Recaps

"Tidbits From TNT" Tuesday Morning 6-27-2023

TNT:

CandyKisses:  Retirees appeal to Sudanese to release their salaries quickly: Empty pockets on Eid

{Local: Al-Furat News} appealed to the retirees, Prime Minister Mohamed Shia Al-Sudani, to release their salaries on Tuesday or during the days of the Eid al-Adha holiday

The retirees expressed in their interview with the agency {Euphrates News} "their dissatisfaction with the lack of release of salaries, as is the case with some ministries, institutions and government bodies because of their urgent need for them, especially coinciding with Eid al-Adha, which is characterized by {Eidiya} and granted to their families."

They were surprised by "the government's silence and the delay of the Ministry of Finance in funding the National Pension Authority through government banks and outlets privatized for exchange."

He appealed to the Sudanese retirees to intervene and release their salaries as soon as possible, especially after the approval of the financial budget and the presence of liquidity, expressing "their hope to receive salaries at least on the Eid holiday and that their pockets do not remain empty and waste on them and their families the joy of Eid."

They also called on the government to allocate Eid to them as a segment that spent a lifetime in the service of the state and in a small appreciation of their efforts.

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CandyKisses:  Iraq publishes the budget law with a deficit exceeding 64 trillion dinars

Baghdad - Iraq Today:

Today, Monday, the Iraqi Gazette of the Ministry of Justice published Law No. (13) of 2023 "The Federal General Budget of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025)", explaining that 64.35 trillion dinars The value of the deficit in a budget, while the official agency quoted Prime Minister Muhammad Shia Al-Sudani as saying that the total budget amounts to 197.828 trillion Iraqi dinars, adding that the deficit is 63 trillion dinars.

According to the budget, the size of the planned deficit of the general budget amounted to about 64.35 trillion dinars for the year 2023.

This deficit is covered by the abundance of increased selling prices of exported crude oil, increased crude oil exports or internal and external borrowing and from the amount of cash recycled in the account of the Federal Ministry of Finance.

Last March, the Iraqi Council of Ministers approved the draft budget law for the country, and referred it to parliament for review and opinion before approving it, and transferring it to the president.

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CandyKisses:  Chinese companies acquire the largest share of Iraq's oil in a month

Shafaq News / The Iraqi Oil Marketing Company "SOMO" announced on Tuesday that Chinese oil companies were the most buyers of Iraqi oil during the month of May.

According to "SOMO" in a statistic published on its official website and seen by Shafaq News Agency, that "Chinese companies were the most numerous among other international companies in the purchase of Iraqi oil and by 9 companies out of 39 companies that bought oil during the month of May.

"She added that "Indian companies came second with 7 companies, then South Korean and American companies came third with 4 companies each, and Italian and Greek companies came fourth with two companies each, while the rest were distributed to Spanish companies, (Dutch-British), Turkish, Russian, Egyptian, Emirati, Kuwaiti, Jordanian, French, Indonesian and Japanese, and by one company each."

Sumo indicated that it "relies in its sale of Iraqi oil on the main criteria for contracting with major and medium international oil companies independent and government integrated vertically," noting that "the most prominent international companies that bought Iraqi oil are the company (Indian Hindustan, Korean Kokaz, American Exxon Mobil, Dutch-British Shell and Italian Eni).

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Tishwash:  The Iraq Stock Exchange ranks first in the Arab world in stock trading

Today, Monday, the Iraqi Stock Exchange achieved the first place in the Arab world, with the highest daily trading rate for the number of shares traded for the year 2022. And the Iraq Stock Exchange stated, in a statement received by Al-Mutala, that: “On the occasion of the conclusion of the work of the first half of the year 2023 and the organization of the last trading sessions on the shares of Iraqi joint-stock companies on Monday 6/26/2023 in the Iraq Stock Exchange and the advent of the blessed Eid Al-Adha holiday. – We review the most important stock trading indicators during the first half of 2023.

Below are the most important stock trading indicators during the first half of 2023:  • Organizing (117) trading sessions for the shares of Iraqi joint-stock companies listed in the market, which number (102) joint-stock companies, according to the official trading hours for electronic systems from 9:30 in the morning until 1:30 in the afternoon, in accordance with the regulations governing electronic trading through brokerage firms.

Officially licensed by the Securities Commission (39) brokerage firms.  • Trading shares of (87) joint-stock companies out of 102 companies listed in the market.  • The number of traded shares reached (380) billion shares, an increase of (6.3)% over the first half of 2022. • The value of traded shares amounted to (375) billion dinars, an increase of (1.1)% over the first half of 2022.

• The ISX60 traded stock price index closed at (591) points in the first session of 2023, and closed at (667) points in the last session of June 2023. Thus, the index has increased by (13)% in the closing of the first half of 2023 from its beginning, and compared to the closing of the first half of 2022, it has increased by (16)%. • The first trading session after the Eid will be held on Monday, July 3, 2023, according to official timings.

The market noted that "the report for the first half of 2023 will be issued immediately after the blessed Eid Al-Adha holiday," referring to the most important news of the Iraq Stock Exchange: • The Iraq Stock Exchange achieved the first place in the Arab world in the evaluation of the Federation of Arab Capital Markets AFCM - when it achieved the highest daily trading rate for the number of shares traded for the year 2022.  • (57) joint stock companies submitted the annual disclosure for the fiscal year as of 12/31/2022.  • The general assembly of (32) banking companies approved the use of cumulative voting for the first time in Iraq.  link

Mot:  ... I Recognize the Delima fer Sure! ~~~~

Mot:  ..... Found the Answer to Whats Missing!! - I Did!!!

MilititiaMan "Iraq is Poised to Go International" 6-26-2023

IRAQ IS POISED TO GO INTERNATIONAL

MilitiaMan and Crew:  6-26-2023

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

The 2023, 24, and 25 is done…….The implementation will be after the EID holiday.  This will pay for all the international contracts , projects and MOU’s they have signed.

The EId ends on Saturday the first I believe……The international markets and forex opens on Sunday about 5 pm est……we will see what holds true.

Please listen to the full video for all the news.

https://www.youtube.com/watch?v=tZFXs_X1bOo

Tuesday Morning Iraq Economic News Highlights 6-26-23

Tuesday Morning Iraq Economic News Highlights 6-26-23

A Financial Expert Warns Against Printing Currency To Cover Budget Expenses And Offers Proposed Solutions

Financial expert Mustafa Hantoush warned of an insane rise in the exchange rates of the dollar against the dinar in the event that the government resorted to printing the currency in order to cover expenses in the budget.  Hantoush said in a press interview seen by “Takadam” that “the government is on the verge of implementing a huge budget, which puts it in an embarrassing position,” noting that “Iraq in previous years was facing difficulty in securing 8 trillion dinars per month, so what will it do when it needs more than 16 trillion dinars per month if you start implementing the budget?

He added, "The government faces a big challenge in order to withdraw the cash block available to citizens through high-interest bonds in order to avoid printing more cash block from the local currency," noting that "the presence of the cash block outside the banking system will open the way for speculation."

He pointed out that "printing more local currency to cover expenses in the budget will eventually lead to an insane rise in the exchange rates of the dollar against the dinar."

The country's general budget law entered into force after it was published in the Official Gazette, and ministries are now awaiting instructions for implementing the budget before embarking on its implementation.

https://takadum-news.com/archives/170863

After Publishing The Budget With Facts.. "Massacre" In The Numbers Of Kurdistan Employees

https://baghdadtoday.news/uploads/posts/2023-06/-1-730x438.jpg

policy  |Today, Baghdad today – Baghdad  A government source revealed a significant shortage in the number of employees in the Kurdistan region, as stated in the financial budget law, after it was published in the Official Gazette, on Monday, and entered into force.

The source stated to (Baghdad Today), “The Iraqi Al-Waqa’i newspaper published the general budget for the three years, but it revealed a (massacre) against the employees of Kurdistan, where it was stated that the number of the region’s employees is 658 thousand and 189 employees, but the number of Kurdistan employees accredited to the regional government a year ago 2013 until today is 681 thousand and 979 employees.

He explained that "by the difference between the two numbers, the salaries of 23 thousand and 790 employees have been reduced from the Kurdistan employees group, which constitutes 3.5 percent of the region's employees group."

The source noted that, "It is remarkable in the matter that no official comment was issued by the Kurdistan government or the concerned authorities, and no one knows the reasons for the shortage or reduction of all these numbers of employees."

It is noteworthy that the House of Representatives voted at dawn on the 12th of this June, on the Federal General Budget Law of the Republic of Iraq for the years (2025, 2024, 2023) in total, while the President of the Republic approved the budget on the 21st of the month.  LINK

The Decline In The Price Of The Dollar Against The Dinar In Baghdad And Erbil

2023-06-27 02:49   Shafaq News/ The exchange rates of the US dollar against the Iraqi dinar decreased today, Tuesday, in the main stock exchange in the capital, Baghdad, and in Erbil, the capital of Kurdistan Region.

Shafaq News agency reporter said that the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded this morning, an exchange rate of 147,300 Iraqi dinars against 100 US dollars, while yesterday morning, Monday, prices recorded 147,800 dinars.

As for the dollar prices in exchange shops in the local markets in Baghdad, they decreased, as the selling price reached 148,500 dinars, while the purchase price reached 146,500 dinars for every 100 dollars.

As for Erbil, the capital of the Kurdistan Region, the price of the dollar also decreased, as the selling price reached 147,350 dinars, and the purchase price was 147,250 dinars for 100 dollars.   LINK

The "Sacrificial Market"... Customers Are Less This Year, And The Rich Buy In Dollars

Baghdad today – Diyala   The sacrificial market in Diyala governorate witnessed a major recession due to the decline in demand for it in the past days, amid calls to re-import livestock and sheep to bridge the gap in the price calendar .

Alaa al-Khazraji, a livestock and sheep trader, told (Baghdad Today) that "the sacrificial animal market suffers from a real recession, especially since the turnout rate is low by up to 40% for various reasons, the most prominent of which is the direct rise in prices and the weak purchasing power of large classes of society."

He added, "We consider the sacrificial market as a criterion for the general economic situation in any governorate, including Diyala, as whenever it is weak, this is an indication of growing poverty."

As for Mazban Khairallah, a livestock and sheep trader, he indicated that "Diyala governorate is one of the governorates that is characterized by abundant production of livestock and sheep, but it suffers from high prices because the bulk of its production goes to other governorates with the sacrificial season."

He added, "The turnout is very limited compared to previous seasons," pointing out that "the cost of raising livestock and sheep has become very high in the absence of government support."

He pointed out that "the rich and well-off in the province are not stopped by the high prices, as some of them buy sacrifices in dollars because of their wealth, as he put it."

As for Abdullah Ali, a retired man, he said, "He has been searching for days for a sacrifice for his martyred son, but he did not succeed because of the high prices," stressing that "there are those who take advantage of the season to raise it."

He added, "Unfortunately, there is cheating by some by selling sick sheep, wondering where the veterinary role is to limit it and take measures to prevent it."

As for Abd al-Karim Hassan, an employee, he decided to postpone the sacrifice with the exacerbation of the hemorrhagic fever crisis after 7 confirmed injuries were recorded in Diyala, noting that "the hemorrhagic fever was behind the postponement of many people to buy the sacrifice for this season."

While Alwan Bilal, the owner of a food store in Baquba, indicated that “preventing the entry of large numbers of cattle and sheep from the Kurdistan region to Diyala under the pretext that they are “smuggled” is what pushed prices to rise and prevented many from buying the sacrifice, adding that “Kurdistan is part of Iraq.” How can imported cattle and sheep enter it and are prevented in Diyala? LINK

“Biden’s Sanctions Continue.” America Determines The Mechanisms For Paying The Iraqi Debt To Iran

International  2023-06-27 | 1,785 views  Alsumaria News – International , US State Department spokesman Matthew Miller confirmed that paying Iraq's debts to Iran does not mean a change in the policy of imposing sanctions, specifying the mechanisms for accessing these funds.

In his response to the announcement of the payment of all Iraq's debts to Iran from gas dues, the US State Department spokesman said, "This does not mean a change in Washington's policy towards Iran or Iraq," stressing that "the Biden administration continues to implement all US sanctions on Iran.

He added: Since 2018, the  State Department  has made a number of concessions in consultation with Congress that allow Iraq to pay for electricity imports from Iran, by transferring funds to a restricted account in Iraq.

He stressed that in line with US sanctions, this money can only be accessed for humanitarian and other non-sanctioned transactions and the money only goes to "approved third parties" and is not transferred toIrandirectly.

Miller confirmed that United States Continues to approve transactions for the use of funds on a case-by-case basis.

On Sunday, the Iranian deputy oil minister for gas affairs said that the Iraqi  Ministry of Electricity  had paid Iran all gas-related debts.

In his statements, the Iranian official did not mention the amount of frozen funds in Iraqi banks.

For his part, Ahmed Musa, a spokesman for  Iraqi Ministry of Electricity  On Monday, his country paid the dues for Iranian gas to Tehran and deposited it in Iran  Iraqi Trade Bank.

He said, “The Ministry of Electricity has paid all the dues it owedIraqTo Iran, which is dues for importing gas from it.”

He added, “The dues were paid to  Iraqi Trade Bank In the credit fund, but the bank finds it difficult to transfer it to the Iranian government because of the US sanctions.  LINK

Iraq And Saudi Arabia Lose Their Share Of Oil In The Asian Market

Energy  Iraq and Saudi Arabia are starting to lose oil market share in Asia, with Asian giants India and China opting for cheaper Russian crude, S&P Global Commodity Insights reports.

According to S&P Global, preliminary data indicates that Indian refiners' imports of Russian crude in May reached an all-time high of about 2 million bpd, surpassing combined purchases by Iraq and Saudi Arabia and displacing supplies from the Middle East, Africa and some US supplies.

These imports are expected to account for 40%-45%, or 2 million-2.5 million barrels per day, of India's basket of crude oil imports, S&P Global said, assuming that prices remain competitive compared to alternative sources.

Meanwhile, China's imports of crude oil from Russia hit a new record of 2.30 million barrels per day (9.71 million metric tons) in May, more than Saudi imports of 1.73 million barrels per day.

China's crude oil imports from Russia are also likely to grow for the foreseeable future as Russia increased supplies of the Espoo blend medium sweet crude to 39 Aframex-sized cargoes in May, with China accounting for 29 cargoes and India 10, according to Kpler and Platts cFlow ship and shipping data. Commodity tracking software.

OPEC Secretary-General Haitham Al-Ghais said in this regard that the alliance has no concerns, indicating that "the market is open to all players. Russia is a prominent player and a major player in the global oil markets, Malaysia and Asia are the main importers of oil and the market is open to all, and there is growth in demand that accommodates all of us." ".

Views 17  06/27/2023 - https://economy-news.net/content.php?id=34918

Chinese Companies Acquire The Largest Share Of Iraq's Oil Within A Month

Energy   Economy News _ Baghdad  The Iraqi Oil Marketing Company "SOMO" announced today, Tuesday, that Chinese oil companies were the most purchasers of Iraqi oil during the month of May.

"Sumo" stated in a statistic published on its official website and seen by "Al-Iqtisad News", that "Chinese companies were the most numerous among other international companies in purchasing Iraqi oil, with 9 companies out of 39 companies that purchased oil during the month of May."

She added that "Indian companies came second with 7 companies, then South Korean and American companies came third with 4 companies each, and Italian and Greek companies came fourth with two companies each, while the rest were distributed among Spanish, (Dutch-British) and Turkish companies." Russian, Egyptian, Emirati, Kuwaiti, Jordanian, French, Indonesian, Japanese, and one company for each.

Somo indicated that it "depends on the sale of Iraqi oil on the main criteria for contracting with large, medium, independent and vertically integrated governmental international oil companies," noting that "the most prominent international companies that bought Iraqi oil are (Indian Hindustan, Korean Cocas, American Exxon Mobil, and Dutch-British Shell). Italian Wayne).

Views 15   06/27/2023 - https://economy-news.net/content.php?id=34917

Iraqi News Highlights Monday Evening 6-26-23

Iraqi News Highlights Monday Evening 6-26-23

Tlm724 Administrator Bondlady’s Corner

Al-Jazaery: The Government Has Not Controlled The Dollar File Yet

Information / special.  Member of the House of Representatives, Intisar Al-Jazaery confirmed, on Monday, that the central government has not controlled the currency smuggling file until now, adding that one of the main reasons that led to the rise in dollar prices is the smuggling file out of Iraq.

Al-Jazaery said in an interview with the information agency, "The government and the competent authorities must intensify control and procedures on some banks that continue to violate and raise dollar prices in the local markets," noting that "the difference in oil price hikes that was fixed in the general budget law must be invested."  And she continued:

"There is a clear depletion of foreign currency and the difficulty of keeping it inside Iraq until now," noting that "the government has not reached the stage of controlling the dollar file and preventing its smuggling out of Iraq through uncontrolled outlets."

Regarding the return of the dollar's price rise, Al-Jazaery revealed:

"One of the main reasons for the instability of the dollar's price is the file of smuggling out of Iraq."

The exchange rate of the dollar in the parallel markets in Iraq witnessed a remarkable rise in the past weeks, reaching 149 thousand dinars per 100 $, while the Central Bank set the exchange rate at 132 thousand dinars per 100 $.

The Central Bank of Iraq is conducting a series of measures aimed at controlling the exchange rates of the dollar in the Iraqi markets and preventing smuggling while providing all the political needs of the Iraqi people.

 https://almaalomah.me/news/politics/الجزائري:-الحكومة-لم-تسيطر-على-ملف-الدولار-لغاية-الان

The Central Bank Records A Sharp Decline In Its Sales

Economy | 01:49 - 06/26/2023  Baghdad - Mawazine News  Today, Monday, the central bank’s dollar sales recorded a sharp decline, recording $227 million.

According to the schedule of the currency sale window that Mawazine News followed, the Central Bank sold during its auction today 227,026,260 dollars, which the bank covered at an exchange rate of 1305 dinars, per dollar for documentary credits and international settlements of electronic cards, and at a price of 1310 dinars per dollar for external transfers, and at a price of 1310 dinars per dollar, respectively. monetary.

Most of the dollar sales went to enhance balances abroad in the form of (remittances, credits), amounting to $166,086,260 million, while the remaining $60,940,000 million went in the form of cash sales.   https://www.mawazin.net/Details.aspx?jimare=230105

Sales Of The Iraqi Central Bank Exceed 270 Million Dollars In An Auction Today

Sunday 25 June 2023 14:25 | Economical Number of readings: 305  Baghdad / NINA / - Today, Sunday, the Iraqi Central Bank's sales of hard currency exceeded the $270 million barrier.

The currency sale window in the Central Bank of Iraq stated, "The total amounts of transfers abroad (remittances, credits) amounted to 234,836,167 dollars at a price of 1305 dinars." While "the total amounts of cash sales amounted to 39,600,000 dollars, reinforced at a price of 1310 dinars, and the total sales amounted to 274,436,167 dollars."/ End 11

https://ninanews.com/Website/News/Details?key=1061465

The Rise In Dollar Prices Locally

Economy |  06/26/2023  Baghdad - Mawazine News  Today, Monday, the exchange rates of the US dollar against the Iraqi dinar rose on the Baghdad and Erbil stock exchanges.

A Mawazine News correspondent said that the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded this morning an exchange rate of 147,800 dinars against 100 dollars, while the prices recorded yesterday morning, Sunday, were 147,100 dinars.

As for the dollar prices in exchange shops in the local markets in Baghdad, they rose, as the selling price reached 149,000 dinars, while the purchase price reached 147,000 dinars for every 100 dollars.

In Erbil, the capital of the Kurdistan Region, the price of the dollar also increased, as the selling price reached 147,750 dinars, and the purchase price was 147,700 dinars for 100 dollars.

https://www.mawazin.net/Details.aspx?jimare=230096

The Iraqi Gazette Publishes The General Budget Law

Local  | 06/26/2023  Baghdad - Mawazine News  Today, Monday, the Iraqi Al-Waqa’i newspaper affiliated with the Ministry of Justice published Law No. (13) for the year 2023 “The Federal General Budget of the Republic of Iraq for the fiscal years (2023-2024-2025).”   https://www.mawazin.net/Details.aspx?jimare=230097

Iraq Earns More Than $7 Billion From Selling Oil Over The Past Month

Economy |  06/26/2023   Baghdad - Mawazine News  The Ministry of Oil announced, on Monday, that the total oil export revenues for the month of May exceeded $7 billion.

The ministry stated in a statement, which Mawazine News received a copy of, that "according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO) for oil exports and revenues achieved for the month of May, the amount of exports of crude oil amounted to 102 million and 463 thousand and 387 barrels, with revenues amounting to 7 million barrels." One billion and 324 million and 641 thousand dollars.

She added, "The total exported quantities of crude oil for the month of May from the oil fields in central and southern Iraq amounted to 102 million and 206 thousand and 413 barrels, while the quantities loaded from warehouses to Jordan were 256 thousand and 974 barrels," noting that "the average price of one barrel reached $71,485.

She pointed out, "The exported quantities have been loaded by 39 international companies of several nationalities, from the ports of Basra, Khor al-Amaya, mono-buoys on the Gulf, and the Turkish port of Ceyhan," noting that "the ministry, through its belief in informing the people of export operations and the revenues generated from it I took this monthly procedure.” Ended 29 / h

https://www.mawazin.net/Details.aspx?jimare=230118

Iraq Is Reducing Its Holdings Of US Bonds To More Than $6 Billion This Year

Sunday 25 June 2023 15:30 | Economical Number of readings: 349

Baghdad / NINA / - The US Treasury Department announced today that Iraq has reduced its holdings of US bonds to more than $6 billion during the first four months of the year 2023.

The Treasury said in a statement: "Iraq reduced its holdings of bonds during those months and starting from January." As of April, it amounted to 6.4 billion dollars, reaching the 36th rank among the countries with the largest holders of US Treasury bonds, which are 38 countries listed in the table of countries.

She added: "Iraq's possession of US bonds in January amounted to 41.2 billion dollars, to decrease to 40.7 billion dollars in February, to decrease to 39.3 billion dollars in March, and to decline again in April to 34.8 billion dollars," indicating that "Iraq's possession of US bonds In January of the year 2022, it amounted to $ 40.8 billion.

She pointed out: "Iraq came as the fourth largest Arab country in the largest possession of US bonds after Saudi Arabia, the Emirates and Kuwait."/ End 7

https://ninanews.com/Website/News/Details?key=1061492

Integrity And Communications Are Discussing Ways To Make The Government Program A Success And The Transition Of State Institutions To E-Governance

Political  | 06/26/2023  Baghdad - Mawazine News  The head of the Federal Integrity Commission, Judge Haidar Hanoun, discussed with the Minister of Communications, Hayam Al-Yasiri, on Monday, prospects for cooperation between the two sides, and taking effective measures to ensure the success of the government program, especially the anti-corruption clause.

During his meeting with the Minister of Communications at the Authority's headquarters, Judge Hanoun stressed "the need for ministries to take measures that enable them to provide the best services to citizens," noting that "the Authority and the Ministry of Communications will intensify their joint work in order to remove obstacles to increase levels of success."

He pointed to "the importance of transforming and transferring the work of state institutions to electronic governance and the digital system, which greatly contributes to reducing levels of corruption in those institutions," noting that "the Ministry of Communications has a major role in cybersecurity, and unifying the government's vision regarding this issue related to state security."

For her part, Minister of Communications Hayam al-Yasiri expressed her "full readiness to cooperate with the commission in combating corruption and cleaning state institutions from its clutches."

Al-Yasiri confirmed, "She made administrative changes in her ministry for the success of the work, the implementation of the government program and the change of reality," noting that "combating corruption is one of the priorities of her work within the ministry." Ended 29 / H

https://www.mawazin.net/Details.aspx?jimare=230110

Disagreements Are Authorized

June 26, 2023      Based on the requirements of the Labor Authority, the Central Bank of Iraq decided to carry out all the banks of all the banks of the bank’s departments listed below and provide them with a cd with the names of their employees carrying a degree (A - B) and updating them in the event of any change in the names of their two traders from the above.

    1- The Department of Monitoring

    2- Accounting Department

    3- The Department of Investments and External Transformations / Department of Foreign Banking Relations

    4- The circle of issuance and safes

https://cbi.iq/news/view/2367

The Judiciary And The Central Bank Are Discussing Joint Cooperation To Address Violations Related To The Sale And Purchase Of Foreign Currency

Sunday, June 25, 2023 12:06 | Economical Number of readings: 446  Baghdad / NINA / - The President of the Supreme Judicial Council, Judge Faeq Zaidan, discussed with the Governor of the Central Bank, Ali Al-Alaq, joint cooperation to address violations related to the sale and purchase of foreign currency.

The Supreme Judicial Council stated in a statement: "The two sides discussed the need for coordination between the judiciary and the money laundering office in the Central Bank to address violations related to the sale and purchase of foreign currency."  https://ninanews.com/Website/News/Details?key=1061429

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Government Leaders of Vietnam, China Hold Talks in Beijing

TNT:

Harambe:  Government leaders of Vietnam, China hold talks in Beijing | Vietnam+

 (6/26/23)

Beijing (VNA) – Vietnamese Prime Minister Pham Minh Chinh and Chinese Premier Li Qiang discussed and agreed on many important contents during their talks in Beijing, China, on June 26.

Sharing his host’s delight at the development trend of the bilateral relations since the historic visit to China in late 2022 by General Secretary of the Communist Party of Vietnam (CPV) Nguyen Phu Trong, PM Chinh, who is paying an official visit to China, emphasised that the Party, State, and people of Vietnam consistently attach importance to promoting the sound relations with the fraternal Chinese Party, Government, and people.

This is the consistent policy, the strategic choice, and the top priority in Vietnam’s foreign policy of independence, self-reliance, multilateralisation and diversification of external relations, he said.

Premier Li stressed that China always considers Vietnam as a priority direction in its foreign policy with neighbouring countries and supports Vietnam to successfully carry out national industrialisation and modernisation and raise its position in the world.

At the talks, the two leaders agreed to promote the effective implementation of the Vietnam - China joint statement on the continued enhancement of the comprehensive strategic cooperative partnership; while maintaining exchanges and meetings at all levels as well as between the two Parties, the two Governments, the National Assembly of Vietnam and the National People’s Congress of China, and the Vietnam Fatherland Front and the Chinese People’s Political Consultative Conference.

They agreed to bring into play the role of the Steering Committee for Bilateral Cooperation in coordinating cooperation fields; expand collaboration in key areas such as diplomacy, defence, and security; boost practical cooperation in spheres and friendship exchanges between localities and people’s organisations of the two countries; build the shared land border into a border of peace, stability, cooperation and development; and properly control differences, maintain peace and stability at sea; and foster coordination at international and regional forums.

PM Chinh underlined that both sides should make use of their geographical advantages and complementarity to step up result-oriented cooperation.

He proposed China to accelerate the opening of its market to agricultural and aquatic products of Vietnam; create conditions for the early establishment of trade promotion offices of Vietnam in Chengdu city of Sichuan province and Haikou city of Hainan province; coordinate to improve the customs clearance capacity to avoid goods congestion at border gates; work together to thoroughly deal with problems of some cooperation projects in the spirit of “harmonising interests and sharing risks”; and speed up the implementation of China’s non-refundable aid packages for Vietnam.

The Vietnamese PM suggested the two sides reinforce ties in finance, agriculture, transport, environment, health care, and science - technology, with a focus on digital transformation, green growth, circular economy, and climate change fight; exchange experience in macro-economic management and governance of financial and monetary policies; along with crop production, agricultural processing, disease control, and protection of fishery resources in the Gulf of Tonkin.

He recommended the two nations to enhance rail, road, and sea connectivity and soon sign an agreement on search and rescue at sea; comprehensively resume commercial flights; strengthen cooperation in managing water resources in the Mekong - Lancang river basin; properly carry out the agreements on educational, cultural and tourism cooperation; and hold people-to-people exchanges in celebration of the 15th anniversary of the comprehensive strategic cooperative partnership between the two countries.

Li affirmed his willingness to deepen substantive cooperation with Vietnam, and continuously enrich the China-Vietnam comprehensive strategic cooperative partnership.

Appreciating Vietnam's rapid economic development and dynamic business environment in the region, he said that the two countries hold great potential for promoting economic and trade cooperation.

China will further open its market for Vietnamese goods, especially high-quality agricultural and aquatic products and fruits; coordinate in creating favourable conditions for quarantine and customs clearance, and is willing to work together with Vietnam to address obstacles related to institutions and policies, he stated.

He suggested the two sides strengthen strategic connectivity, especially in infrastructure and transport; promote cooperation in economy, trade and investment in the fields of production, manufacturing and agriculture.

The Chinese Premier emphasised that people-to-people exchanges and cooperation between localities play an important role in enhancing understanding, trust and friendship between the two countries, stressing the need to hasten both sides to effectively implement cooperation in culture, education and tourism, and increase the frequency and improve the quality of locality-to-locality collaboration.

The two leaders sincerely and frankly exchanged views on maritime issues, and agreed to affirm the importance of properly controlling disagreements, and maintaining peace and stability in the East Sea.

PM Chinh suggested the two sides strictly implement high-level common perceptions and the “Agreement on basic principles guiding the settlement of sea-related issues between Vietnam and China”; respect each other's legitimate rights and interests; settle disputes and disagreements by peaceful means in accordance with international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS); promote the effectiveness of negotiation mechanisms on maritime issues; fully and effectively implement the Declaration on the Conduct of Parties in the East Sea (DOC), and strive to build a substantive, efficient and effective Code of Conduct in the East Sea (COC) in line with international law, including the UNCLOS.

The two PMs also discussed international and regional issues of mutual concern, and agreed to maintain coordination and cooperation at regional and international forums.

PM Chinh affirmed the consistent support for the “One China” principal, and for China’s increasingly important and active role in the region and in the world. He proposed the two sides strengthen coordination and cooperation at regional and international forums, especially within the framework of the World Trade Organisation (WTO), the Asia-Pacific Economic Cooperation (APEC), the Asia-Europe Meeting (ASEM), and the Association of Southeast Asian Nations (ASEAN).

The two leaders then witnessed the signing and announcement of four cooperation documents between ministries, sectors and localities of the two countries in the fields of immigration management, market supervision, smart border gate construction, and research on marine environmental management in the Gulf of Tonkin.

https://en.vietnamplus.vn/government-leaders-of-vietnam-china-hold-talks-in-beijing/255283.vnp

Goldilocks "Iraq News and More" Monday Afternoon 6-26-2023

Goldilocks and Seeds of Wisdom

RJ:   Good afternoon Dinar Recaps,

Goldilocks posted a comment and link on Iraq:

Iraq is currently making sure they have a co-signer authorized to exchange foreign currency in their Banks at the present time.

When someone exchanges foreign currency in their Banks, the customer and the approved co-signer doing the exchange at a bank in Iraq has to take place.

It is another step towards what we are looking for and one of the protocols still taking place. 

The important point in all of this is that logistics training for their foreign currency exchange staff is in process. 

© Goldilocks

https://cbi.iq/news/view/2367

Goldilocks also posted a number of articles on Sudden Wealth, These are very timely, very thoughtful, and informative articles starting at 12:31 pm EDT today.

Here is a sampling:

Sudden Wealth Syndrome (SWS) Definition

Don't Make These 6 Common Sudden Wealth Mistakes

How to gift money to children, family, and loved ones | Fidelity

Real Wealth Is Not About Money | Groove Blog

Many more are posted in the Goldilocks Telegram room today.  The link is below!

~~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

Iraqi News Highlights Monday Early Afternoon 6-26-23

Iraqi News Highlights Monday Early Afternoon 6-26-23

Tlm724 Administrator Bondlady’s Corner

Completion Of A Course On Combating Money Laundering And Terrorist Financing (CAMS). 

June 25, 2023    In the presence of the Director General of the Central Bank of Iraq, Kurdistan Region / Erbil branch, today, June 22, 2023, the Center for Banking Studies in the Central Bank of Iraq concluded in cooperation with Iraqna for Economic and Administrative Consulting, Training and Information Technology (IBTS). and the financing of terrorism (ACAMS)) in the hall of the General Accounts Directorate of the Ministry of Finance of the Kurdistan Region in Erbil.

    The aim of the course was to provide the participants with the necessary knowledge and skills to identify the nature of money laundering and its seriousness, to get acquainted with the international legislation that governs combating this crime and its application within banks and financial institutions, to stand on preventive measures and measures, and to identify the methods and methods of money laundering and the developments used by it. Criminals in this regard and understand the methods and strategies to combat money laundering and terrorist financing.

After passing the test, the participants in the course will receive a Certificate of Certified Specialist in Combating Money Laundering and Terrorist Financing (CAMS).

    Issued by the Association of Certified Specialists in Combating Money Laundering and Terrorist Financing (ACAMS).    https://cbi.iq/news/view/2366

Mr. Al-Hakim Stresses The Importance Of Supporting The Private Sector And Reforming The Banking System

Political     Baghdad – conscious  The head of the National Wisdom Movement, Mr. Ammar al-Hakim, stressed today, Sunday, the importance of supporting the private sector and reforming the banking system.

The media office of Mr. Al-Hakim stated, in a statement received by the Iraqi News Agency (INA), that

"the head of the National Wisdom Movement, Mr. Ammar Al-Hakim, received today the Ambassador of the United States of America in Baghdad, Elena Romansky." 

He added,  "The developments in the political scene in Iraq and the region and ways to enhance cooperation between Baghdad and Washington were discussed." 

Al-Hakim praised "the step of approving the tripartite budget," noting that "approving it for three years will enable the government to implement its government program in accordance with government priorities."

He stressed the importance of supporting the private sector and reforming the banking system to achieve sustainable development,

pointing to the necessity of moving the relationship with the United States of America from its security and military dimensions to the economic dimension and exchanging experiences in the educational and cultural fields. 

Al-Hakim called for "supporting the government and perpetuating the current stability," stressing "the role of Iraq in bringing the views of the regional parties closer together."

https://www.ina.iq/188190--.html   

 Chairman Of The Investment Authority: We Changed Many Of The Obstructing Regulations And Committees

Economy      Baghdad – conscious Today, Wednesday, the head of the Investment Authority, Haider Makiya, confirmed a change in many regulations and committees that obstruct the investment process to make it smoother, while pointing to investment opportunities in the residential, commercial and industrial sectors.

Makiya told the Iraqi News Agency (INA):  "The commission made a change in many regulations and committees that were obstructing the investment process." 

He added, "These committees have become a thing of the past, and the currently formed committees and laws related to the investment process have become smoother, and there will be investment opportunities in the residential, commercial and industrial sectors." 

Makiya noted that "previously, requests, modification of a license, waiver of a license, expansion of a project area, or a change in project activity were going through countless complications, and  now these have become smooth and accessible to the National Commission or the investment commissions in the provinces."   https://www.ina.iq/187973--.html  

Representative Of The Food Organization: Iraq Is Among The Countries That Produce The Most Grain

Economy     Baghdad - conscious - Hassan Al-Fawwaz Today, Wednesday, the representative of the United Food and Agriculture Organization (FAO) in Iraq, Salah Hajj Hassan, confirmed that

Iraq has adopted more than one means to address the issue of food security, while noting that Iraq is among the three countries that produce the most grain.

Hassan said, to the Iraqi News Agency (INA), that "the organization works in partnership with the Iraqi government in various ministries, especially the ministries of agriculture and water resources, as well as the Ministry of Environment, Planning and other institutions." 

He explained, "Iraq is one of the countries in the region that has adopted more than one means to confront the issue of food security," pointing to "Iraq's distinguished role, especially after the 36th regional meeting of the FAO in Baghdad, which resulted in the launch of a set of initiatives that resulted in follow-up with neighboring countries, especially Jordan." Syria and Lebanon to facilitate the flow of goods. 

He added, "There is a possibility for Iraq to present a model regarding the issue of climate variables and adapting with them, and there are great challenges regarding the issue of water that require the cooperation of the concerned authorities on the basis that the approach is not sectoral, but at the highest levels of all concerned parties to integrate efforts in reducing these negative effects."

And the big one with regard to the subject of variables on the one hand and the water coming to Iraq on the other hand. 

He pointed out, "The local production of the wheat crop in Iraq has reached about 4 and a half million tons, thanks to the efforts made by the Ministries of Agriculture and Water Resources and other government agencies, along with farmers." 

And he continued,  "We must focus on increasing productivity per unit area to compensate for the lack of water and areas," noting that "Iraq is among the three countries (Egypt, Iraq, and Syria) that produce the most grain and can maintain its advanced rank in this field."   https://www.ina.iq/187964--.html

The Launch Of The Jordanian-Iraqi Forum For Finance And Business Under The Auspices Of The Association Of Iraqi Private Banks

Reports  Economy News _ Baghdad  The Jordanian-Iraqi Business Forum was held in the Jordanian capital, Amman, under the auspices of the Association of Iraqi Private Banks.

The forum was inaugurated by the Minister of Industry, Trade and Supply and the Minister of Labor, Youssef Al-Shamali. The forum aims to move the two countries' relations to new horizons and a phase of work and common benefits.

Government officials, the executive director of the Iraqi Private Banks Association, Ali Tariq, the head of the Iraqi Business Council in Amman, Majed Al-Saadi, and business owners and companies from the two countries participated in the forum, under the slogan "Building Bridges of Common Prosperity."

In his speech, which was followed by "Al-Iqtisad News", Al-Shamali affirmed the strength of bilateral relations between the two brotherly countries and the endeavors made to develop them in various fields, especially economic ones, as a translation of the visions and directives of His Majesty King Abdullah II and the Iraqi leadership, and to maximize the benefit from the available opportunities and work on integration in many sectors. 

 He said thateconomic challenges still cast a heavy shadow over the economies and societies of countries, and make the economic issue the most prominent aspect of relations between them in light of the repercussions of major global events such as the Corona pandemic, and the disruption of global supply networks due to the continuous change in energy prices, production and transportation costs, and global political turmoil..  

He pointed out that the basis on which these ties are based is of strategic origin due to common interests, geographical location and a long history of ties and connections. 

He added, "The growth of economic ties between Jordan and Iraq is a prominent aspect of the strong relations, and Jordan and Iraq have achieved a lot in the context of bilateral cooperation to face these challenges, as the volume of trade exchange increased from $580 million in 2021 to $900 million last year, and the volume of Iraqi investments reached In Jordan, about 32 billion dollars. 

Al-Shamali said,  "We are on the path to developing this cooperation, and  an example of it is the joint economic city between Jordan and Iraq, which work has begun to implement, which will enhance trade exchange, stimulate joint investments, and benefit from the exemptions and advantages of free trade agreements that the Kingdom signed with many countries in general."

Bilateral or multilateral, which allows the products of this city to reach more than a billion consumers without any technical or customs restrictions, including the markets of the two brotherly countries.  He pointed out that

the meetings of the twenty-ninth session of the joint Jordanian-Iraqi committee, which were held in the capital, Baghdad, last February, during which practical solutions were reached to many challenges to consolidate strategic relations between the two countries.

In turn, Minister of Investment Kholoud Al-Saqqaf stressed the importance of strengthening the Jordanian-Iraqi partnership and enabling it in various fields, especially economic and investment, and

translating it into a reality that serves the interests of both countries, given the strength of brotherly relations, geographical proximity and agreements signed between the two parties, which contribute to the establishment of fruitful partnerships in all fields. 

She said that  Iraqi investments in the Kingdom contributed to economic development and were distributed to many economic sectors, such as real estate, financial, industrial, tourism and others, stressing that

Jordan is looking forward to more Iraqi investments, expanding existing ones, and establishing fruitful partnerships that benefit both countries. 

She referred to the most important reforms that the government has pursued economically, politically and administratively, to achieve comprehensive and sustainable growth and improve the quality of life for Jordanian citizens, in order to align with the vision of economic modernization 2033, which is a national road map with ambitious and realistic standards over the next ten years, indicating that

the investment engine is one of the most important engines. Vision It aims to stimulate domestic and foreign investments and enhance the investment environment in Jordan.  Al-Saqqaf confirmed that

the Ministry of Investment was newly established to be concerned with the investment file and the main reference for investment in the Kingdom, in order to achieve the goals of the economic vision, and is working to implement several initiatives,

the most important of which are: adopting the general policy for investment in the Kingdom and the promotion strategy for the years (2023-2026), which included the most important sectors of interest. Priority and target markets, in addition to tools and mechanisms to promote these sectors, including the investment map project,

in addition to that an electronic platform for the investor (InvestGo) will soon be launched as a promotional tool for the Kingdom as an investment destination in the Middle East.

The Minister of Investment reviewed the most important advantages and incentives included in the investment environment law and the regulations and instructions issued according to it, in addition to the most important investment opportunities in many sectors that are considered attractive and competitive for the Iraqi investor. 

She referred to the most prominent investment opportunities in the Kingdom, especially in the sectors of information technology, tourism, medical tourism, pharmaceutical industries, life sciences, health care services, food industries, clothing, textiles, agriculture, logistics, chemicals and fertilizers.

In turn, the head of the Jordan and Amman Chambers of Industry, Eng. Fathi Al-Jaghbir, said that the forum represents an important stage in strengthening the bonds of Jordanian-Iraqi relations and provides an opportunity for closer cooperation between the two brotherly countries, expressing his pride in the depth of the historical relations that bind Jordan and Iraq. 

He added that the two countries have an opportunity to build economic gains and expand the scope of cooperation in many key sectors such as energy, industry, education, health care and infrastructure, indicating that

the Iraqi market provides great opportunities for Jordanian products and services, just as the Kingdom’s market provides an opportunity for Iraqi products to expand in them. 

Al-Jaghbir called for facilitating procedures and providing support to small and medium-sized companies, as they constitute the backbone of any economy,

pointing out that favorable policies for business and modern and appropriate legislation are crucial to the development of a healthy and prosperous work environment. 

He pointed out that the products of the Jordanian industry have reached more than 130 markets around the world, and this is the result of the continuous efforts of Jordanian industrialists who work hard to ensure the quality of their products and maintain their global reputation. 

He explained that the industrial sector is proud that the Jordanian industrial specifications keep pace with the European and American specifications, which means that the products of the Jordanian industry meet international quality standards, which makes them competitive in the global markets.   He pointed out,

"We, as a business community, are committed to working hard to increase trade and investment numbers between Jordan and Iraq, to enhance understandings, and to work towards integrating industries and meeting industrial needs in the two countries, and for the two countries' relations to be based on the (win-win) principle."

 Al-Jaghbir indicated that Iraq is an important economic and trade partner for the Kingdom, stressing that the Jordanian industrial sector is making great efforts to strengthen economic relations, increase exports, open broad horizons for cooperation and build joint projects.

For his part, the head of the Iraqi Business Council in Amman, Dr. Majed Al-Saadi, appreciated the great support provided by Jordan under the leadership of His Majesty King Abdullah II to Iraq, investors, business owners and the Iraqi people. 

He said that the forum is a new beginning to advance economic relations between the two countries and to build on the achievements made in light of the strong relations between the two countries at various levels. 

He added that the Iraqi Business Council is working with great efforts to advance economic relations between the two countries to the levels that we aspire to reach, indicating that

Iraq is currently going through different circumstances than before, as there is a national unity government and it has an ambitious economic program directed to the Arab private sector and the world to invest in many projects. 

Al-Saadi stressed that the tripartite initiative that brings together Iraq, Jordan and Egypt is an important step to invest in the available opportunities to reach regional economic integration between the three countries, stressing the Business Council's keenness to be a link between investors and build partnerships between them. 

He pointed out that Iraq's budget for the current year focuses on large sectors, including building one million housing units and 10,000 schools, in addition to infrastructure projects, which opens a wide field for Jordanian and Arab companies to invest in this field.

He called on the Jordanian and Iraqi private sectors to invest in the opportunities available between the two countries, stressing that the economy is the main supporter of stability and well-being, providing job opportunities and achieving development.

For his part, the head of the National Commission for Investment in Iraq, Dr. Haider Makiya, expressed his hope that the next stage would witness the building of real economic bridges between Jordan and Iraq in order to stimulate investment between the two countries, noting that the state of stability in Iraq was reflected in the investment situation. 

He said that the Iraqi arena is witnessing today the launch of many investment activities in the sectors of housing, energy, agriculture, industry and infrastructure. 

He stressed that  Iraq is on the verge of a major strategic project represented by the establishment of a "development road" that reaches Jordan and Syria with the aim of enhancing integration between the countries of the region,

 explaining that industrial and commercial cities will be established on both sides of the road, which are currently in the process of studies and preparation of designs by international companies.

Makiya called on Jordanian companies and investors to participate in the realization of this project.

He referred to the incentives, benefits, tax exemptions and guarantees that Iraq provides to investors with the aim of attracting them, referring to the most prominent projects that his country is currently working on implementing, especially in the housing sector through the construction of residential cities and the establishment of a silica production plant.

Participants in the forum will discuss, during working sessions,  investing in the financial and banking sector, opportunities, challenges, experiences and success stories, the investment environment, the available investment opportunities, and the laws and instructions governing investment in both Iraq and Jordan.

They will also discuss investment in the industrial sector,energy, mining and real estate development projects, opportunities, challenges,experiences and success stories, and investment in the transportation, services, communications and information technology sectors .. opportunities, challenges, experiences and success stories.

On the sidelines of the forum, bilateral meetings will be held between the participants, and an exhibition for companies to present their products and services and the development they have reached to a specialized segment with the aim of opening new distribution channels, in a way that contributes to increasing the trade exchanges of the two countries and expanding the base of goods exchanged between them.   06/22/2023 - https://economy--news-net.translate.goog/content.php?id=34861

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

KTFA Members "News and Veiws" Monday 6-26-2023

KTFA:

Clare:  The budget enters into force.. Iraqi facts publish the text of the law

The official Iraqi Gazette issued by the Ministry of Justice published, on Monday, the text of the general budget law for the years (2023, 2024, 2025).

A copy of the facts and budget law   LINK

Turk182:  This is fantastic News, unfortunately it appears that the CBI has not yet received a copy of this Morning Edition of the Gazette, as the rate is still 1,300 +/-

Zeeman:  now that the budget is official if iraq does not get off its duff they will be in the same place. there is no way they can afford a fraction  of their building projects on 1300 its to costly. the choice is either raise the value of the dinar or stay the same the choice is theirs. Imo

GMan:  Yes, no more kicking the can…IMO

Clare:  Adviser to the Prime Minister for Al Furat News: Start implementing the budget after Eid

6/26/2023

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the date of implementation of the financial budget law.

Saleh told {Euphrates News} agency: "The ministries of finance and planning have completed the instructions for implementing the budget, and it will not need time to implement it, but it was waiting for the ratification of the budget law."

He added, "The implementation will be immediately after the Eid al-Adha holiday."

Saleh pointed out, "The meaning of its entry into force since the beginning of the year 2024 means that the financial obligations and expenditures that began since the beginning of the year were approved in the budget, and that it does not only mean the period after which it was approved, but rather covers the commitment of the entire fiscal year."

Today, Monday, the Official Gazette published the tripartite financial budget law after the President of the Republic approved it on the 21st of this month.

It is noteworthy that the House of Representatives approved the budget law at dawn on the 12th of this month after difficult discussions and disagreements between the political forces.

Raghad Daham   LINK

Uniden:  Logic, tells me if rate not changed.after Eid holiday,when they implement budget. I won’t be expecting it for awhile.IMO and citizens will be in the streets.you can only tell them Waite Waite Waite so long.they’ll be like boy that called wolf IMO

Randy:  Iraq might beat us to the punch with 3rd of July Celebrations!

Ryan1216:  I don’t see how the budget can be implemented with a program rate….. IMO

Zeeman:  the budget can start at 1300 and be changed at any time …also they can leave it at 1300 and drop the 3 zeors or as frank says which makes a ton of sense ….as soon as it comes out the cbi will change it to 1000  to1 or lower that way it will be cheaper to rebuild the country. Imo

ButchB:  Let’s say you’re at Churchill Downs, and every currency concerned is a horse in the race. The United States has number one for the dollar an Iraqi has the number 1300 for their horse.

Do you want to find out the value of the Iraqi dinar, then in my opinion
Open the starting gates and see how they lineup at the finish line at the end of Eid

In my opinion, that is when you will see the value of the Iraqi dinar at the end of the race, not the start of it

Toolster:  f you please ...when does Eid end?

Randy:  I remember an article last week, you can go look up if you like, it ends on July 2nd.

Clare:  "Prime Minister Muhammad Shia'a al-Sudani directs that the Eid al-Adha holiday be from Tuesday, corresponding to June 27, 2023, until Sunday, corresponding to July 2, 2023."

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Clare:  The Dinar Support Committee is in the process of making new moves regarding the exchange rate

 6/26/2023    Baghdad

The Higher Committee for Supporting the Iraqi Dinar intends to coordinate a meeting between Prime Minister Muhammad al-Sudani and some merchants to agree on setting concrete mechanisms that limit the problems of exchange rate fluctuations, the rule of the parallel exchange rate in the markets, and control of dollar transactions.  

Committee member Omar Al-Sudani, director of the supervision and follow-up department at the Baghdad Chamber of Commerce, said, in an interview with the official newspaper, followed by “Al-Iqtisad News”, that “the committee, within its next plan, to diagnose errors and weaknesses that caused the rise in exchange rates in the parallel market, called for the need to support merchants and facilitate He ordered them with regard to taxes after there were many problems in this regard,” adding that “the committee supported merchants in the Baghdad Chamber of Commerce and the Registrar of Companies, and prepared simple companies to support medium merchants, as well as following up on banks and recommending facilitating their procedures towards merchants, and coordinating a meeting for merchants with the head of the Council Ministers to listen to their problems and the possibility of solving them by overcoming the obstacles facing their commercial work.  

Al-Sudani added, "The committee aims to support the dinar and make it the basis for buying and selling in transactions within the country and adopting foreign currency (the dollar) in external transactions only, which reduces pressure on the dollar and leads to a decline in its exchange rates in the local market. This process, if successful, will achieve price stability and proportionality." With the income of the citizen, who is burdened by the rise in prices as a result of fluctuating exchange rates.  

He explained that "several measures have been put in place to support the dinar, as the central bank has taken upon itself to solve the problem of bank transfers and adopt the platform in this regard despite the repeated complaints of merchants, but it is a good step to speed up the issue of remittances, in parallel with the simplification of banking procedures from the Baghdad Chamber of Commerce, which merchants complained about

." A lot of them, as the Chamber organized discussion sessions through which merchants gathered with bank representatives to discuss and find solutions, and the rest of the procedures relate to the merchant himself and the extent of his response to the campaign and his implementation of the instructions that the committee provides him with in order to ensure the value of the dinar.  

He continued by saying that "the issue of currency stability is related to government measures more than it relates to other parties, as they are the only ones capable of doing so, through the procedures they take and the extent of their implementation," noting that "the Baghdad Chamber of Commerce works alongside the merchant who incurred losses as a result of the fluctuation that occurred and its reflection on prices."

And the current recession and the reluctance of citizens to buy, and it will remain supportive of any measure that would support price stability and raise the value of the Iraqi dinar against the US dollar, by preventing speculation in the currency and continuous campaigns to urge the merchant to adopt the dinar in his dealings, as well as government control and preventing currency smuggling and so on. Measures to maintain the stability of the currency.     LINK

Clare:  The government is talking about reviving projects that have been lagging for 17 years

6/26/2023   Baghdad

The government revealed that it will restore the 1,450 projects lagging since 2006, in addition to the implementation of 4 strategic projects, and indicated that it has set its sights on providing the necessary funds to implement a number of housing projects.  

The government spokesman, Basem Al-Awadi, explained, in an interview with the official newspaper, followed by "Al-Iqtisad News", that "the implementation of strategic projects lies in four projects that came within the government's curriculum, which are (the Al-Faw project, the railways, the dry channel linking the port of Al-Faw with neighboring countries, and the establishment of a station Desalination of sea water in Basra, which is one of the most important projects in the province because of what it suffers from).  

He stressed that "the government has developed integrated plans to implement investment projects in the manufacturing and petrochemical industries, as well as the establishment of new refineries of the new generation to fill the shortfall in oil products."  

He added, "Our investment budget amounts to 47 trillion dinars," of which: 147 billion dinars were allocated for the rehabilitation of 10 large hospitals in all Iraqi governorates, 400 billion dinars for desalinating Basra water, 600 billion dinars for implementing the fourth ring road in Baghdad, 300 billion dinars for infrastructure projects. Infrastructure in Diwaniyah, 107 billion dinars for the "Nibras" project in Baghdad, 280 billion dinars for the rehabilitation and maintenance of power plants, 1 trillion dinars for the "Development Fund", and 500 billion dinars for the "Fund for the Poorest Provinces", added by the Prime Minister, in addition to investments The big one that will enter Iraq through the path of development.  

Al-Awadi pointed out, "One of the most important issues that we must talk about is that the Prime Minister has set his sights on moving lagging projects since 2006 until now," noting that "the latest reports received from the Ministry of Planning indicate that the number of lagging projects in Iraq More than 1,450 projects have been lagging since 2005 and 2006, and the reasons for their reluctance are due to political conditions or the fluctuation and decline in oil prices.  

He explained that "the statement of the Ministry of Planning in this regard stated that during the past eight months of the life of the Prime Minister's government (Muhammad Shia' al-Sudani), 450 lagging projects were dealt with, as they were reinstated," stressing that "the government is committed to moving all the accumulated 1450 lagging projects." In the life of the previous Iraqi governments, from 2006 to the present time, and this is a great achievement that cannot be neglected.   

With regard to the poorest governorates, the government spokesman stated that "the government has allocated a fund for them with 500 billion dinars mentioned in Paragraph 55 of the general budget, and therefore, based on the information of the Ministry of Planning about the governorates completely about projects, plans and the level of education, 3 governorates will be selected from the Iraqi governorates that It is on the growth list, and the rest of the provinces are ahead of it in the coming years in terms of financing and projects, and this amount (500 billion dinars) will be spent on most of the 6 housing projects that were announced, starting with the (Baghdad) project in Nahrawan and the (Ali Al-Wardi) and (Al-Jawaher) projects. ) in Abu Ghraib, the (Al-Difaf) project in Hilla, the (Karbala) project, and (Al-Ghazlani) in 6 cities," stressing that "money has been allocated and provided for this initiative."  

Al-Awadi pointed out that "some of the previous paragraphs come within the ministry's budget - that is, what is allocated to the Ministry of Housing - as an annual support amount estimated at 4 to 5 trillion dinars," noting that many service issues are linked to the Ministry of Housing and Construction and not the departments of municipalities and governorates, including projects for resolving bottlenecks. Traffic, and all these projects funds have been allocated within the general budget of the Ministry of Construction and Housing.       LINK