DINARRECAPS8 7/1/23 DINARRECAPS8 7/1/23

Saturday Afternoon Iraq Economic News Highlights 7-1-23

Money Inflation'.. Integrity Sets A Month For The Oil Sector And Sends An Invitation In This Regard

2023.07.01 - Baghdad - Nas On Saturday, the Federal Integrity Commission renewed its call for citizens to cooperate with it in preserving public money and returning looted money to the state treasury, announcing the continuation of its campaign to report the crime of money inflation and illegal gain.

The authority, speaking about the campaign, stated in a statement that “NAS” received a copy of (July 1, 2023), that it “set the period from the first of this July to the first of next August; to report on the Ministry of Oil sector, urging the honorable citizens to report Any increase in the funds of employees and managers in this sector, or their spouses or children, is not commensurate with their usual resources.

Money Inflation'.. Integrity Sets A Month For The Oil Sector And Sends An Invitation In This Regard

And she pointed out that "the continuation of the campaign to report the inflation of the funds of employees, those assigned to a public service, their spouses or children, and in the form of sectors, was thanks to the cooperation of citizens who provided the authority with important information that is being investigated, and some of which a judicial order was issued, noting that the continuation of cooperation between the authority and citizens in a file Inflation of funds will lead to the return of billions of dinars to the public treasury.

And she warned that "her campaign falls within her duties to prevent and combat corruption, and to recover the people's money stolen and looted by the corrupt, as she opened two accounts in the Rafidain Bank in Iraqi dinars and US dollars, in order to deposit the refunded amounts."

She pointed out that "several windows have been allocated to receive communications in this regard, including: the hotline (07800701653), the page (Where did you get this from) on its official website, in addition to the e-mail (blagat@nazaha.iq)." https://www.nasnews.com/view.php?cat=110090

Money Inflation'.. Integrity Sets A Month For The Oil Sector And Sends An Invitation In This Regard

Somo" Announces Its Oil Exports, And An Economist Monitors A New Deficit In The Iraqi Budget

2023-07-01 Shafaq News / The Iraqi Oil Marketing Company "SOMO" announced, on Saturday, the financial revenues for exporting crude during the first half of this year, while an economist warned of "dark economic shadows" and a new deficit in the 2023 budget.

Shafaq News Agency viewed the company's tables, which showed that "the total oil exports for the first half of this year amounted to 595,571,118 barrels of oil, at a monthly export rate of 99,261,000 barrels, at a rate of 3,308,000 barrels per day."

According to those tables, "the revenues generated from its sales of crude oil amounted to 44,371,808,000 dollars, at a rate of 7,395,301,000 dollars per month."

He pointed out that "the average monthly selling price of crude oil for the first half of this year amounted to 74 dollars and 548 cents."

According to the company's schedules, "the rate of oil exports from the ports of Basra amounted to 586 million and 43 thousand and 170 barrels, at a rate of 97 million and 673 thousand barrels per month, at a rate of 3 million and 255 thousand barrels per day, while the rates of oil exports through Kirkuk and through the basins to Jordan were two million and 120 thousand And 359 barrels, at a rate of 353 thousand and 393 barrels of oil per month.

And the tables of the "SOMO" company showed that "the number of companies that bought Iraqi crude oil amounted to 36 international companies."

In turn, economist Nabil Al-Marsoumi said, in a statement received by Shafaq News agency, that "the oil revenues achieved until June of this year amounted to 44.337 billion dollars, while it was 61.5 billion dollars in the same period last year."

And he indicated that "the decline in oil revenues during these two periods is 17.163 billion dollars, meaning that the decline rate is 39%."

He pointed out that "the oil revenues achieved in the first half of 2023 are equivalent to 57.6 trillion dinars, which is one trillion dinars less than the oil revenues estimated in the 2023 budget. This means an increase in the budget deficit by one trillion dinars."

Al-Marsoumi attributed this to "the significant decline in Iraqi oil revenues in 2023, largely due to the decline in global oil prices and to a lesser extent, the decrease in oil production and exports due to the (OPEC Plus) restrictions that reduced the production share of Iraqi oil by about 430,000 barrels per day, in addition to the suspension of field exports." Kurdistan Region and Kirkuk since last March 25, which amounts to 470,000 barrels per day.

Al-Marsoumi warned that this "will reflect negatively on the total oil revenues achieved in 2023 compared to the revenues achieved in 2022, which amounted to $115 billion, which casts a dark shadow over the 2023 budget, which is burdened with a large deficit, which mainly depends in its public revenues on oil revenues." LINK

Newspaper: Iraqi Party Leaders Evade Disclosing Their Financial Liabilities..Do They Fear Accountability?

2023-07-01 585 Arab and international reports 0 The Federal Integrity Commission in Iraq audits the financial statements of the heads and founders of political parties, as part of the preparations for the provincial elections.

The commission aims to combat corruption and remedy the legislative void with regard to disclosing the financial sources of party leaders. The Commission urges the political leaders in Iraq to be transparent, bear financial and moral responsibility, and cooperate with the relevant bodies in detecting and fighting corruption. It is expected that the Iraqi parties will be elected next November, and participate strongly in order to control local governments.

The London-based Al-Arab newspaper said in a report, followed by Al-Muttall'a, that "the leaders of political parties in Iraq are evading disclosure of their financial liabilities, taking advantage of loopholes in the law regulating the work of parties that was approved in 2015."

She added, "Many party leaders own financial empires of unknown origin, and a large part of this money is deposited in banks and banks abroad, and part of this money is used during election periods to influence the electoral process, whether by buying votes or controlling propaganda." Media".

Party leaders take advantage of the absence of legislation to avoid any obligations to disclose their financial sources, for fear of falling under the law for committing economic violations.

In this regard, the Federal Integrity Commission called on the competent authorities to provide it with the names of those covered by the disclosure of their financial liabilities, and described the response of party leaders and members of its founding bodies to the duty to disclose financial liabilities as "very low."

The Federal Integrity Commission, an independent institution subject to the oversight of the House of Representatives and whose tasks focus on combating corruption, seeks to remedy the legislative vacuum with regard to disclosing the financial sources of party leaders.

The Commission issued a decision in 2016 that includes all heads of political parties and members of its founding bodies with the duty to disclose their financial liabilities, in accordance with the provisions of Article (17 / Item Twelve) of its Law No. 30 of 2011, which stipulates that “everyone whom the Commission deems necessary shall be included.” disclosure of their financial liabilities.

The commission works in coordination with the Independent High Electoral Commission to provide it with a list that includes the names of those included, and to update its database for them, and stresses that taxpayers must fill out a financial disclosure form, in order to avoid economic irregularities.

It is important to note that the response of the heads of parties and members of the parties' founding bodies to this duty was very low, which exposes them to legal accountability in the event that it is determined that there are economic violations. The political leaders in Iraq must assume their financial and moral responsibilities, be transparent with regard to the sources of their wealth and money, and cooperate with the concerned bodies in exposing and fighting corruption.

She said that she “contacted with the Non-Governmental Organizations Department in the General Secretariat of the Council of Ministers in order to coordinate with them, for the purpose of filling out a financial disclosure form for the heads of organizations,” noting that “her request for a list that includes the names of all organizations and their heads,” stressing “the importance of notifying the heads of organizations that they have responded to their duty Disclosure of their financial liabilities.

She pointed out that taking these measures coincided with the preparations for holding the provincial council elections, and based on Article (16/First-C, and Third) of the amended Integrity and Illicit Gain Commission Law No. (30 of 2011), which required the heads of associations, unions, unions, and organizations And the founders and heads of political parties to disclose their financial assets.

And the commission granted “the authority to assign any political organization, non-governmental organization, federation, syndicate, or association to prove the legality of funding sources, donations, and expenditures in accordance with the rules followed in spending.”

Observers rule out that the Integrity Commission's moves will receive a response, especially from the dominant parties in the Iraqi scene, pointing out that these parties have more than one way to circumvent the Commission's demands, including submitting fabricated documents, as this has already happened.

The Iraqi parties are preparing for the provincial elections scheduled for next November, and it is expected that these parties will lose their financial weight in this election, which is of great importance as it is the gateway to controlling local governments. Source: The London-based Arab newspaper. LINK

An Economist Reveals Iraq's Loss Of Financial Revenues During The First Half Of This Year

Economy 01/07/2023, Number of readings: 141 Baghdad - Iraq today:Nabil Al-Marsoumi, professor of economics at the University of Basra, spoke on Saturday about Iraqi oil revenues for the first half of 2023. Al-Marsoumi said in a statement

, "Iraqi oil revenues during the first half of 2023 came as follows: -

The oil revenues achieved until June 2023 = 44.337 billion dollars -

Oil revenues achieved until June 2022 = 61.5 billion dollars -

The decrease in oil revenues during these two periods = 17.163 billion dollars -

The percentage of decline between these two periods = 39%

He added, “The oil revenues achieved in the first half of the year 2023 are equivalent to 57.6 trillion dinars, which is one trillion dinars less than the oil revenues estimated in the 2023 budget, and this means an increase in the budget deficit by one.” trillion dinars

The significant decline in Iraqi oil revenues in 2023 is related to To a large extent, the decline in world oil prices, and to a lesser extent, the decrease in oil production and exports due to the restrictions of OPEC Plus, which are reduced

The production share of Iraqi oil is about 430 thousand barrels per day, in addition to the suspension of exports from the Kurdistan and Kirkuk fields since last March 25, which amounted to 470 thousand barrels per day.

And he continued, "This decline will negatively affect the total oil revenues achieved in 2023 compared to the revenues achieved in 2022, which amounted to $115 billion, which casts a dark shadow over the 2023 budget, which is burdened with a large deficit, which mainly depends on oil revenues in its public revenues. LINK

Advisor To The Prime Minister: The Market Value Of Iraq's Raw Wealth Exceeds $15 Trillion

Political | 02:55 - 01/07/2023 Baghdad - Mawazine News Today, Saturday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, identified a theory to maximize Iraq's revenues through its natural resources, and while he confirmed that Iraq ranks ninth in the world with its resources, he indicated that the market value of Iraq's raw wealth exceeds 15 trillion dollars.

Saleh said, in an interview with the official agency: “Iraq is one of the most important countries in the world, if not at the forefront of nations rich in natural resources or raw materials within the scope of the international classification of resources on the globe, as Iraq takes the (ninth) sequence among the priority of countries in the world that possess Natural diversity and economic quantities in the capacity of raw materials reservoirs capable of manufacturing and export or national industrial use.

He added: "As the circles estimate that the market value of those raw wealth in our country may exceed 15 trillion dollars at the current value, compared to about 45 trillion dollars for the United States of America, which is (the second) globally, and 75 trillion dollars for the Russian Federation, which is (the first) globally."

And he continued: “And when taking into account the historical experience in development, which is represented today by the development of an important international group of economies called (raw or basic material countries), which relied in their economic development and development on the manufacture and export of natural resources, Canada, Australia and New Zealand come at the forefront today, The thesis (raw or basic materials) comes in economic development, and it is one of the theories of export-led growth.

He pointed out that "the theory of export-led growth has its origins in research in social, political and economic history that was conducted specifically in Canadian universities by researchers of what were known as political economy departments, and among these groups of researchers was the economist Harold Ennis, Mackintosh and others, among the most prominent." researchers who took this approach.

And he added, "Therefore, we find that our country carries a unique model of economic development that puts it in the ranks of developed nations, and development can proceed strongly from the theory of manufacturing raw or natural materials in our country and exporting it to lead development,"

pointing out that "the natural resources that the economic model may work on Al-Iraqi for Development is represented by manufacturing raw exports with dozens of exploitable natural resources, provided that manufacturing chains with high technologies are capable of generating internal manufacturing linkages, which is called (value-added chains generated from links or backlinks of inputs and outputs) within the national factory.

Iraq, through which the process of manufacturing and manufacturing is maximized, and the added value flourishes before being exported as products, which serve as production inputs to world markets.

He stressed "the importance of Derayah's reflection on the prosperity of economic development and the growth rates required to be achieved, in light of the degree of development of material capital accumulation and its high value, or in terms of the growth of the gross domestic product of our country." https://www.mawazin.net/Details.aspx?jimare=230423

Dinar Recaps 20 7/1/23 Dinar Recaps 20 7/1/23

"Tidbits From TNT" Saturday 7-1-2023

TNT:

CandyKisse: After his vacation is over.. House prepares to pass 3 prominent laws

{Policy: Euphrates News} Independent MP Haitham Al-Fahd revealed, on Friday, the readiness of the parliamentary committees to pass 3 prominent laws.

Al-Fahd said {for Al-Farat News} that: "The parliamentary committees intend after the end of the legislative holiday to approve the communications law, the investment law and the national security law, all of which serve citizens."

He added, "The current parliamentary session presented a number of important laws that serve citizens, foremost of which is the Social Security Law and the Tripartite Budget Law, which, despite much talk about it, paid attention to the service aspect."

"This session aspires to provide significant legislative and supervisory work," Al-Fahd stressed

TNT:

CandyKisse: After his vacation is over.. House prepares to pass 3 prominent laws

{Policy: Euphrates News} Independent MP Haitham Al-Fahd revealed, on Friday, the readiness of the parliamentary committees to pass 3 prominent laws.

"This session aspires to provide significant legislative and supervisory work," Al-Fahd stressed

Tishwash: Next week, Iran will officially join the Shanghai Cooperation Organization

Russian Foreign Minister Sergey Lavrov announced, on Friday, that Iran will officially join the Shanghai Cooperation Organization next week, along with China, Russia and Central Asian countries.

"During the meeting of presidents on July 4, Iran's full membership will be approved," Lavrov said at the inauguration of the organization's center in Moscow.

The minister indicated that the meeting will also witness the signing of a memorandum of understanding regarding the “obligations” of Belarus, an ally of Russia, which is scheduled to “also launch a path for full accession” to the organization.

The Shanghai Organization was established in 2001 at the initiative of Russia, China and four countries in Central Asia: Tajikistan, Kyrgyzstan, Uzbekistan and Kazakhstan. India and Pakistan joined in 2017.

The Islamic Republic has been an observer member of the organization since 2005, and its last attempt to join it in 2020 failed as a result of Tajikistan's refusal at the time. However, the member states returned and agreed in September 2021 to join Tehran, which at that time began a series of procedures that required up to two years, for membership to become official.

Iran is also seeking to join the BRICS, which includes South Africa, Brazil, China, India and Russia.

The Russian announcement of completing the procedures for Iran’s accession comes at a time when the Islamic Republic is making diplomatic moves in various directions to ease tensions and Western restrictions on it, which included, in particular, opening up to Arab countries in the Gulf region, strengthening cooperation with countries in Asia, Central and South America, and re-establishing contact with European countries. After months of increasing tensions with it, leading to indirect talks with the United States, mediated by Oman.

Tehran's relations with Moscow have witnessed a convergence in the past months, after the Russian invasion of Ukraine in February 2022.

Russian President Vladimir Putin visited Tehran in the summer of that year, after Iranian President Ibrahim Raisi visited Moscow at the beginning of the same year.

Kiev and Western countries accuse Iran of providing Russia with drones to use in its war against Ukraine. Tehran has repeatedly denied providing weapons to Moscow "for use in war", but admitted to providing Russia with drones before invading Ukraine. link

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Tishwash: A rise in unemployment and an increase in poverty rates.. An economist indicates the risks of currency printing

Asher, the economic expert, Ahmed Saddam, today, Saturday, the dangers of currency printing.

Saddam stated to Earth News that “there is no economic feasibility in printing the currency to cover the budget expenses for the reason that the increase or printing of the currency will raise the level of the monetary mass and thus will cause a significant rise in the price level by virtue of the lack of current production capacity within the economy, meaning an increase in the monetary mass.” In exchange for the absence of real non-oil production in the commodity sectors, namely agriculture and the manufacturing industry.

He added, “This will translate into a rise in the price level, in other words, a rise in the level of inflation and a decrease in the value of the Iraqi currency. The interests in the private sector lead to the dismissal of a number of workers and reduce them by virtue of the weak purchasing power and thus the failure to achieve revenues that can employ a larger number of workers.

And that “these are all negative effects that may be left behind by resorting to printing a new currency in return for the lack of real production capacity, in addition to a lack of confidence in the Iraqi currency and in decisions, and this causes great economic confusion even at the level of the investment decision, which in the end affects the reality of the economy in a way very negative.” link

Mot... Payback can be tough You see!!!!

Mot: ... Theres Always that One who ~~~~

DINARRECAPS8 7/1/23 DINARRECAPS8 7/1/23

Iraqi News Highlights Late Friday Evening 6-30-23

Tlm724 Administrator Bondlady’s Corner

Swedish Prime Minister: It Is Unacceptable For Protesters To Enter The Embassy In Baghdad

Posted On2023-06-30 By Sotaliraq Swedish Prime Minister Ulf Christerson called for calm after his country's embassy in Iraq was attacked in protest at the burning of the Qur'an in Stockholm. According to him, there is no reason to insult others.

“I also think we should be quieter in Sweden. This is a very serious situation in terms of security policy, and there is no need to insult others.” Christerson indicated that it is totally unacceptable for protesters to enter the embassy building in Baghdad, according to Russia Today.

Iraqi News Highlights Late Friday Evening 6-30-23

Tlm724 Administrator Bondlady’s Corner

Swedish Prime Minister: It Is Unacceptable For Protesters To Enter The Embassy In Baghdad

Al-Sadr Calls For A Massive Angry Demonstration To Expel The Swedish Ambassador

Posted On2023-06-30 By Sotaliraq The leader of the Sadrist movement, Muqtada al-Sadr, called for a mass demonstration to expel the Swedish ambassador to Iraq, in response to his country's permission for an Iraqi to burn the Qur'an.

Al-Sadr said in a statement, on Thursday (June 29, 2023), that “if freedom of expression is guaranteed and approved by Iraqis and globally, the believers must express their opinion regarding the burning of heavenly books, especially the Holy Qur’an, in front of mosques or embassies and on Muslim holidays, through a massive angry demonstration against the embassy.” Swedish in Iraq.

Al-Sadr called for “the expulsion of the Swedish ambassador who represents his country that is hostile to Islam and sanctities and supports immorality, and to sever relations with it, and to withdraw the Iraqi nationality from the despicable Iraqi criminal who publicly and braggartly burned the Book of God, and the judiciary should work to return him to Iraq or judge him in absentia with a judgment befitting the crime in defense of the crime.” Islam and sect, and the government must protect those affiliated with the vile criminal in Iraq in order to preserve their lives.”

On Thursday (June 29, 2023), the Iraqi Ministry of Foreign Affairs expressed, in a statement, “the Republic of Iraq’s strong condemnation and denunciation of the Swedish authorities allowing an extremist to burn a copy of the Noble Qur’an in a manner that constitutes a grave insult to religious sanctities.”

In its statement, the Iraqi Ministry of Foreign Affairs affirmed that “these events would inflame the feelings of Muslims around the world and constitute a dangerous provocation for them,” calling on the international community to “assume its responsibilities to stop such unacceptable acts, reject all forms of hatred and extremism, and hold the perpetrators accountable.”

On Wednesday, the Iraqi government called on the concerned governments to take the initiative and deter the "extremists" responsible for burning the Holy Qur'an, describing the act as "heinous" and "inciting violence and hatred."

This came in the Iraqi government's first comment on the fact that an Iraqi youth residing in Sweden burned a copy of the Holy Qur'an, on the first day of Eid al-Adha, in front of the largest mosque in the Swedish capital, Stockholm.

The Iraqi government expressed its denunciation and denunciation of the act, stating that "these actions reflect an aggressive and hateful spirit that has nothing to do with freedom of expression, but rather an act of racism and incitement to violence and hatred."

Swedish police had allowed a demonstration in which a man burned a few pages of the Koran in front of the largest mosque in Stockholm.

The person who burned the Qur'an is an Iraqi named Silwan Mumika, 37 years old. He threw the Qur'an on the ground before burning it and making insulting words to Islam.

Momica wrote in the request he submitted to the police: "I want to demonstrate in front of the Great Mosque in Stockholm and I want to express my opinion about the Qur'an .. I will tear up the Qur'an and burn it."

In turn, the police said in a written decision that it had granted a permit for a demonstration, "whose organizer seeks to burn a copy of the Qur'an, outside Stockholm's main mosque." The decision came after the Swedish Court of Appeal announced in mid-June that there were no justifications for rejecting such requests. LINK

Mr. Sistani Sends A Message To The United Nations Regarding The Burning Of The Holy Quran

Posted On2023-06-30 By Sotaliraq The supreme religious authority, Sayyid Ali al-Sistani, sent a letter to the Secretary-General of the United Nations regarding the assault on a copy of the Holy Qur’an, with a license from the Swedish police.

A statement was transferred to the office of the Supreme Reference, in which it read: “His Excellency Antonio Guterres, the honorable Secretary-General of the United Nations, a kind greeting with respect and appreciation, and after: the media reported that someone in the Kingdom of Sweden attacked a copy of the Holy Qur’an and burned some of its papers, with the aim of insulting religion.” The true Islamic.

The letter pointed out that “this disgraceful behavior has occurred more than once in different countries in recent years, but it is noticeable that this time it took place with an official license from the Swedish police, claiming that it was a requirement to respect freedom of expression!”

The message of the Grand Ayatollah Sistani emphasized that “respecting freedom of expression does not justify licensing such a shameful act, which represents a flagrant attack on the sanctities of more than two billion Muslims in the world, and leads to the creation of an environment conducive to the spread of extremist ideas and wrong practices.”

The letter noted that “the supreme religious authority, expressing its condemnation and denunciation of what happened, calls on the United Nations to take effective steps to prevent the recurrence of similar incidents and push countries to reconsider the legislation that allows their occurrence, and calls for establishing the values of peaceful coexistence between followers of different religions and intellectual approaches based on the protection of rights.” Mutual respect for everyone.”

The incident of an Iraqi resident in Sweden burning a copy of the Holy Qur’an sparked widespread criticism, after repeating these practices under the name of “freedom of expression.”

On Wednesday, a man tore up a Quran and set it on fire at Stockholm's Central Mosque on the first day of Eid al-Adha.

Today, Thursday, dozens of angry demonstrators, supporters of the Sadrist movement, stormed the headquarters of the Swedish embassy in Baghdad, in protest against the Swedish authorities' permission to burn a copy of the Noble Qur'an in front of a mosque in Sweden. LINK

Oil Recorded Its First Monthly Increase This Year, After The Decline In US Inventories

Friday 30, June 2023 Economical Number of readings: 506 Baghdad / NINA / - Oil prices rose today in Asian trading, after Brent crude recorded its first monthly increase this year, in light of the significant decline in US crude oil inventories and the easing of fears that fuel demand will be affected by any new increase in interest rates.

Brent crude futures for September delivery rose 16 cents to reach $74.67 a barrel, while US West Texas Intermediate crude rose eight cents to $69.95 a barrel

. This will be the first monthly increase for Brent crude in 2023, but it will be the second for West Texas Intermediate crude after it rose last April.

In terms of oil price indices on a quarterly basis, Brent crude appears to be heading for a loss of about six percent while WTI is heading for a loss of about seven percent.

” barrels in the week ending June 23.

Meanwhile, US GDP growth in the first quarter of the year was revised to an annual rate of 2 percent, compared to 1.3 percent announced earlier. https://ninanews.com/Website/News/Details?key=1062231

Oil Prices Rose After Economic Data

Energy Economy News – Baghdad Oil prices rose, in trading today, Friday, after data showed a decline in crude stocks in the United States, and positive data on the US economy.

And by 09:20 Baghdad time, Brent crude futures rose by 0.17% to $74.64 a barrel, while US crude futures rose 0.07% to $69.91 a barrel, according to Bloomberg agency data.

The rise came after the US Energy Information Administration said that crude inventories fell by 9.6 million barrels in the week ending June 23, 2023, which far exceeded analysts' expectations.

Yesterday, upon settlement, Brent crude futures rose to $74.34 a barrel, while US crude futures rose to $69.86 a barrel. 60 views 06/30/2023 - https://economy-news.net/content.php?id=34948

Al-Rafidain: The Soon-To-Be-Launched "Credit Card" Is Characterized By Lending A Certain Amount According To The Salary

Economy News – Baghdad Al-Rafidain Bank revealed, today, Friday, the imminent launch of the "Credit Card" credit card.

The media office of the bank stated in a statement, "The Credit Card will be launched soon," noting that "the card carries privileges, including lending for a certain amount and according to the salary."

Views 89 06/30/2023 https://economy-news.net/content.php?id=34947

The President Of The Republic: The Government Is Serious About Taking Measures To Encourage Investment

Money and business Economy News – Baghdad President Abdul Latif Rashid said that Iraq enjoys security, peace and stability, and this provides opportunities for investors to invest in the country.

Rashid added, in an interview with the BBC, that "the government is serious about taking concrete measures that will encourage foreign and domestic investment, as there are promising opportunities for investors in Iraq, especially with the security, safety and stability that Iraqi cities are witnessing."

The President of the Republic referred to "the need to amend money transfer laws and regulations, financial policy, and improve some rules and regulations related to investors and the banking sector."

Views 77 06/29/2023 - https://economy-news.net/content.php?id=34946

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Awake-In-3D: The Biggest Monetary Shock in 52 Years is Coming 6-30-2023

Awake-In-3D:

The Biggest Monetary Shock in 52 Years is Coming

On June 29, 2023 By Awake-In-3D

The BRICS+ countries are on the verge of announcing a new currency linked to gold, which could trigger a global currency reset and mark the end of the US dollar’s reign as the exclusive global reserve currency. This move is expected to have far-reaching consequences for the international financial system, causing shockwaves that the world is unprepared for.

With gold prices being manipulated and the potential volatility of a gold-backed currency, questions arise about the stability and viability of such a system. However, the BRICS+ currency’s value will be determined by the price of gold, and China and Russia are likely to play a pivotal role in influencing the dollar price of gold to increase the value of their currency and undermine the US dollar.

The implications for investors and the long-term impact on exchange rates and capital markets remain uncertain.

Awake-In-3D:

The Biggest Monetary Shock in 52 Years is Coming

On June 29, 2023 By Awake-In-3D

The implications for investors and the long-term impact on exchange rates and capital markets remain uncertain.

I am summarizing a recent article written by Jim Rickards. He is an American lawyer, economist, and investment banker with 40 years of experience working in capital markets on Wall Street.

The article discusses the upcoming announcement of a new currency by the BRICS+ countries, which could have significant implications for the global financial system and the US dollar. The new currency is likely to be linked to gold, leveraging the gold reserves of BRICS members Russia and China. This move could potentially lead to a global currency reset, with the end of the US dollar as the exclusive global reserve currency and the rise of a gold-backed monetary system.

The article argues that the dollar’s strength should be measured in gold, as gold is not a central bank currency. The author highlights the manipulation of gold prices in the paper gold market, emphasizing the need for a fixed price for gold in a gold-backed currency. The potential volatility of gold as a currency is discussed, along with the US government’s possible motivation to sabotage a rival currency bloc.

The article concludes that the value of the new BRICS+ currency will be determined by the price of gold, with China and Russia likely to influence the dollar price of gold to increase the value of their currency and undermine the US dollar.

Key Points from the Article:

The BRICS+ countries are set to announce the creation of a new currency linked to gold.
Russia and China, the two largest gold producers in the world, have significant gold reserves.
Gold prices are subject to manipulation, supported by statistical evidence and expert testimony.
The author suggests that a gold-backed currency would require a fixed price for gold to ensure stability.
The BRICS+ currency will be valued in units of gold by weight, with a fixed value in gold.
The value of the new currency will fluctuate based on the dollar price of gold.
China and Russia are expected to have significant influence over the dollar price of gold and the value of the new currency.
The collapse of the dollar, measured in gold or the BRICS currency, could lead to inflation and a loss of purchasing power.

Original article link: https://dailyreckoning.com/the-biggest-monetary-shock-in-52-years/

Website: Ai3D GCR RealTimeNews | Telegram: GCR_RealTimeNews | Twitter: @Real_AwakeIn3D

https://ai3d.blog/the-biggest-monetary-shock-in-52-years-is-coming/

Dinar Recaps 20 6/30/23 Dinar Recaps 20 6/30/23

"Zimbabwe, Vietnam and Indonisia News" Posted by Harambe at TNT 6-30-2023

TNT:

Harambe: Zim-dollar regains grip against USD again | The Chronicle (6/29/23)

THE Zimbabwe dollar is fast regaining value against the US dollar with the weighted average rate at the wholesale foreign exchange auction today pegging the local currency at US$1: $5,739 from US$1:ZWL6,300 on Tuesday.

Expectations are that the exchange rate (official and parallel market), which recently took a battering from the negative impact of excess liquidity in the market, will strengthen in favor of the local currency going forward.

Since the introduction of the wholesale auction, financial institutions have been struggling to raise Zimbabwe dollar funding enough to buy more than US$1 million at any given time.

In an update today, the total value of bids accepted was $3,5 million with $2,9 million allotted.

Based on the Reserve Bank of Zimbabwe update, the highest bid rate received was $6 000 while the lowest was $5,263.

TNT:

Harambe: Zim-dollar regains grip against USD again | The Chronicle (6/29/23)

Since the introduction of the wholesale auction, financial institutions have been struggling to raise Zimbabwe dollar funding enough to buy more than US$1 million at any given time.

In an update today, the total value of bids accepted was $3,5 million with $2,9 million allotted.

Based on the Reserve Bank of Zimbabwe update, the highest bid rate received was $6 000 while the lowest was $5,263.

On Tuesday, financial institutions only managed to buy a third of the US$30 million foreign currency available on the wholesale foreign currency auction as the Zimbabwe dollar liquidity crunch hits the market.

Only US$10 million was purchased by banks today from the US$30 million on offer.

In the first wholesale foreign currency auction early this month, 19 banks were allotted US$11,18 million as authorities switched to the banking system’s interbank market.

As part of the reforms, the RBZ’s Monetary Policy Committee (MPC) met early June and came up with additional interventions aimed at ensuring that the interbank forex market became the primary source for foreign exchange needs in the economy.

The latest development overtakes the auctions that have carried the burden for just under three years since the middle of 2020.

In taking measures to address issues affecting the economy, the MPC noted that the prevailing volatility in the exchange rate emanated from both supply-side and demand-side factors.

https://www.chronicle.co.zw/zim-dollars-regains-grip-against-usd-again/

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Harambe: Vietnam, Indonesia step up legislative ties | Vietnam+

(6/29/23)

Chairman of the National Assembly (NA)’s Committee for External Relations Vu Hai Ha hosted a reception in Hanoi on June 29 for the Ambassador of Indonesia to Vietnam, Denny Abdi.

Ha said the countries, sharing a bilateral traditional friendship which was upgraded to strategic partnership in 2013, have boosted their high-level and all-level exchanges, maintained and promoted their effective cooperation mechanisms, and coordinated policies in line with Indonesia's priorities for the region, especially during its 2023 ASEAN chairmanship.

He stressed that the Vietnamese NA wishes to deepen and enhance the strategic partnership between Vietnam and Indonesia via further strengthening cooperation with the legislative bodies of Indonesia, particularly in delegation exchanges and teamwork between the sides’ specialised committees and friendship parliamentarians' groups.

The Vietnamese NA also looks forward to promoting the exchange of information and experiences with the Indonesian parliament on law building and inspection work related to post-COVID-19 socio-economic recovery and global issues such as digital transformation, he added.

The official said in the time to come, Vietnam and Indonesia need to continue improving the legal framework for cooperative activities and maximising the effectiveness of their joint committee on economic, scientific, and technological cooperation to facilitate trade and investment flows.

The two countries should explore and seek opportunities for collaboration in such new areas as digital transformation, clean energy, capitalising on the opportunities brought by the Fourth Industrial Revolution.

For his part, the Indonesian diplomat stressed that Indonesia values its strategic partnership with Vietnam and is committed to making every effort to promote their friendly cooperation.

Agreeing with Ha’s assessment regarding the strong ties between the two countries in various fields, the ambassador suggested that the Vietnamese and Indonesian legislative bodies further promote these cooperative relations and increase their exchange of high-level delegations.

https://en.vietnamplus.vn/vietnam-indonesia-step-up-legislative-ties/255485.vnp

Prime Minister hosts IMF’s Article IV consultation team | Vietnam+ (6/29/23)

Hanoi (VNA) - Prime Minister Pham Minh Chinh on June 29 received a delegation of the International Monetary Fund (IMF) headed by Sanjaya Panth, Deputy Director of the IMF’s Asia and Pacific Department, who are on a working trip in Vietnam for Article IV consultation.

Expressing his satisfaction with the results of the cooperation between Vietnam and the IMF, PM Chinh stated that the Vietnamese Government always listens to and highly values the evaluation opinions and policy advice from the IMF. The report by the Article IV consultation team is one of the important sources of input information for the making and implementation of policies by the government, ministries and sectors.

The IMF’s consultation and policy dialogue activities have supported the Vietnamese government in formulating stable and effective socio-economic development policies, especially during the COVID-19 crisis and the current global instability, PM Chinh said.

The IMF delegation congratulated the country on its positive economic and social achievements, particularly after the pandemic.

They noted that global growth prospects are relatively weak, but the Asian region, including Vietnam, sees more favourable ones and can serve as a global growth driver. The Vietnamese economy is expected to grow better in the last months of 2023 and this growth momentum is likely to be sustained and bolstered in the coming years.

The government leader expressed the desire for the IMF to continue providing competent Vietnamese agencies with training programmes and technical support in economic, financial, and monetary management, and statistics.

He proposed that the team and IMF Resident Representative Office in Vietnam further enhance policy advisory activities for the Vietnamese government and agencies. The PM also expressed his hope and confidence that the already good relationship between the sides will be increasingly consolidated and strengthened and that the IMFwill continue to accompany Vietnam in its future development process.

Under Article IV of the IMF's Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country's economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

https://en.vietnamplus.vn/prime-minister-hosts-imfs-article-iv-consultation-team/255487.vnp

DINARRECAPS8 6/30/23 DINARRECAPS8 6/30/23

Friday Afternoon Iraq Economic News Highlights 6-30-23

The President Of The Republic: The Government Is Serious About Taking Measures To Encourage Investment

Money and business Economy News – Baghdad President Abdul Latif Rashid said that Iraq enjoys security, peace and stability, and this provides opportunities for investors to invest in the country.

Friday Afternoon Iraq Economic News Highlights 6-30-23

The President Of The Republic: The Government Is Serious About Taking Measures To Encourage Investment

Money and business Economy News – Baghdad President Abdul Latif Rashid said that Iraq enjoys security, peace and stability, and this provides opportunities for investors to invest in the country.

70 views Added 06/29/2023 https://economy-news.net/content.php?id=34946

He Described It As A Safe Investment Environment... Al-Khattabi: An International Investment Conference Will Be Held Soon In The Holy City Of Karbala (video)

FRI, 06-30-2023, TAYSEER AL-ASADI The Holy Governor of Karbala, Eng. Nassif Jassim Al-Khattabi, revealed that an international investment conference will soon be held in Karbala Governorate, after he described it as a safe environment for internal and external investment, and stressed that the time has come to attract international companies to invest in the Holy Governorate of Karbala.

And Al-Khattabi said in a statement to the Noon News Agency that "Karbala governorate today is a safe environment and the time has come to attract international investment companies to implement large projects in the holy Karbala in all specializations,

and we are strongly determined to activate investment with the support of Prime Minister Muhammad Shia'a Al-Sudani and the basic government program, which is Karbala governorate is part of it and is concerned with supporting investment and creating a safe environment for it, although some officials are against investment because they do not have the correct vision, which can be addressed in the future during work, and their ideas will change when seeing success in work,

but the Karbala street remains supportive of investment, the prime minister and the program The government is supportive of us, and the Karbala administration insists that real investment, whether internal, contribute mainly to creating job opportunities and building the city, and an international investment conference will be held in the holy governorate of Karbala soon.” https://non14.net/public/158142

Iraq And Saudi Arabia Are Discussing The "Housing Crisis" And The Establishment Of Major Cities

The head of the National Investment Commission, Haider Muhammad Makiya, discussed with the Saudi Minister of Investment, Khaled Al-Falih, the solution to the housing crisis and the establishment of major cities in all governorates.

The office of the Chairman of the Investment Authority stated in a statement, that: “In implementation of the directives of the Prime Minister, Muhammad Shia’a Al-Sudani, and in completion of the procedures of the National Investment Commission in the course of financing the Basmaya residential project, the Chairman of the Commission discussed mechanisms for joint cooperation with the Saudi Minister of Investment Khaled Al-Falih to finance the Basmaya project.”

Makiya stressed during the meeting, "the necessity of bridging investment relations with the Kingdom of Saudi Arabia, especially with the Ministry of Investment and the Saudi Investment Fund, as it is one of the major funds in the world, to determine financing paths for major strategic projects of a service nature to citizens," indicating "the importance of completing housing units and their infrastructure within the Bismayah complex and the start Providing the best services to the residents.

He pointed out that "the priorities set by the Iraqi government's special program are represented by addressing the housing crisis and establishing major cities in all governorates of Iraq," pointing to "the prime minister's seriousness in finding solutions that cover the needs of Iraqi citizens for adequate housing through agreement with investment companies and investors to establish housing complexes." fit them."

For his part, the Saudi Minister of Investment, Khaled Al-Falih, expressed his readiness to cooperate with the National Investment Commission in completing the success story in the Bismayah complex, which is one of the important investment signs in Baghdad, after the financing is studied to complete the project or other residential complexes or new cities in Iraq. https://www.dijlah.tv/index.php?page=article&id=330843

The Head Of The Ports Authority Visits The Sea Ports Of Basra And Is Briefed On The Flow Of Work There

Friday 30, June 2023 | General Number of readings: 74 Baghdad / NINA / - The head of the Border Crossings Authority, Omar Adnan Al-Waeli, visited the sea ports of Basra to see in the field the flow of work in it.

The authority stated in a statement, “Al-Waeli held an important meeting immediately upon his arrival at the second leg of the visit, in the presence of the directors of the ports, directors of customs centers, and directors of other working departments operating in the ports of Umm Qasr port (north, middle and south), where the requirements of the departments and obstacles facing the progress of work were listened to to ensure the implementation of government decisions, noting that many paragraphs have been emphasized, including the following:

Working in a team spirit, exchanging information, integration, and cooperation to ensure smooth and highly professional business flow, and following up on the file of withdrawing piled containers.

Continuing the electronic audit through the application of the fee exemption program, as well as the electronic audit program for customs and tax receipts, and preventing forgery and distortion of official papers.

Seeing the mechanism of work of the sonars and the process of analyzing the image of the incoming goods to prevent the passage of any manipulation or smuggling of materials not mentioned in the official papers, as the images were at a high level of accuracy and analysis, And the workers on these examinations have a high level of experience and extreme care

He conducted an inspection tour, as a result of which a number of violations were seized, which consisted of seizing wheels without the permitted model for import, hidden behind spare tools intended for smuggling. To receive

https://ninanews-com.translate.goog/Website/News/Details?Key=1062296&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Al-Rafidain: The Introduction Of Cards That Are Distinguished For Issuing A Certain Amount And According To The Salary

Economy , 2023/06/30 17:10 , Number of readings: 141 Baghdad-Iraq today: Al-Rafidain Bank announced, today, Friday, the imminent launch of cards that are distinguished by the launch of a certain amount and according to the salary.

The bank stated, in a statement, that "the credit card will soon be launched."

He added, "The card carries privileges, including lending for a certain amount and according to the salary." LINK

An Economist Reveals The {Radical} Solution To Address Unemployment In Iraq

Time: 06/30/2023 Read: 1,235 {Economic: Al Furat News} Economic expert Rashid Al-Saadi revealed the basic and radical solution to address the unemployment file in Iraq.

Al-Saadi told the Euphrates News agency, "The basic and fundamental solution to addressing the unemployment file with the graduation of large numbers of students is to diversify sources of income and rely mainly on agriculture and industry and the rest of the tourism sectors, especially since Iraq is qualified to use these resources to increase its financial revenues and employ large numbers of workers."

Graduates to set up productive factories and companies, as well as real support for the private sector.

He pointed out that there are "corruption mafias in the sub-districts that stand against the state's plans and programs that are presented by the prime ministers, and that this is a big problem."Raghad Daham LINK

Chambers Of Commerce: The Rate Of Investment Increased By 70% In Diyala

On Thursday, the chambers of commerce revealed an increase in the rate of investment in Diyala by 70%. “The investment file in Diyala witnessed repeated setbacks due to security unrest and economic crises in the past years,” said the head of the Chambers of Commerce in Diyala, Muhammad al-Tamimi, in a press interview seen by Takadum, pointing out that “the situation changed in 2023.”

He added, "The investment rate has increased by 70%, especially in the housing sector, which represents 50% of the turnout for investment in general," noting that "5 main reasons stand behind businessmen's confidence in the Diyala environment, the most prominent of which is relative stability."

He pointed out that "Diyala is characterized by a multiplicity of investment opportunities in 7 vital sectors," noting that "unfortunately, some security incidents are being exaggerated from time to time, although they are repeated in other provinces, but the situation is generally stable."

It is currently investing tens of billions of dinars in various service projects in Diyala, especially the housing sector. https://takadum-news.com/archives/171283

Al-Rafidain announces the imminent launch of the credit card

Political | 09:26 - 06/30/2023 Baghdad - Mawazine News Al -Rafidain Bank revealed, on Friday, that the credit card (credit card) is about to be launched.

The bank stated, in a statement, which Mawazine News received a copy of, that "the credit card will be launched soon." And he added, "The card carries privileges, including lending for a certain amount and according to the salary." https://www.mawazin.net/Details.aspx?jimare=230343

Al-Halbousi: On The Occasion Of The International Day Of Parliamentary Work: We Celebrate The Importance Of The Role That Parliamentarians Play In Legislating Laws

Friday 30, June 2023 14:46 | politics Number of readings: 178 Baghdad / NINA /- Parliament Speaker Muhammad Al-Halbousi praised the role that parliamentarians play in enacting laws, in addition to carrying out the duty of oversight tasks.

Al-Halbousi said in his tweet on Twitter on the occasion of the International Day of Parliamentary Work: We celebrate the importance of the role that parliamentarians play in legislating laws in addition to carrying out the duty of oversight tasks, and we emphasize the role of Parliaments in consolidating democracy, achieving the aspirations of the people, and promoting peace and stability.

https://ninanews-com.translate.goog/Website/News/Details?Key=1062274&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

The President Of The Republic: The Government Is Serious About Taking Measures To Encourage Investment

Money and business Economy News – Baghdad President Abdul Latif Rashid said that Iraq enjoys security, peace and stability, and this provides opportunities for investors to invest in the country.

70 views Added 06/29/2023 https://economy-news.net/content.php?id=34946

He Described It As A Safe Investment Environment... Al-Khattabi: An International Investment Conference Will Be Held Soon In The Holy City Of Karbala (video)

Iraq And Saudi Arabia Are Discussing The "Housing Crisis" And The Establishment Of Major Cities

https://www.dijlah.tv/index.php?page=article&id=330843