Iraq Economic News and Points to Ponder Tuesday AM 9-19-23

Iraq Economic News and Points to Ponder Tuesday AM 9-19-23

The US Treasury: We are ready to cooperate with Iraq in the files of financial liquidity and commercial transfers

Time: 09/19/2023  Read: 1,170 times  The Prime Minister, Mr. Muhammad Shiaa Al-Sudani, met in New York, after midnight (Baghdad time), with the Under Secretary of the US Treasury, Mr. Brian Nelson, on the sidelines of his participation in the meetings of the United Nations General Assembly at its seventy-eighth session.

The meeting witnessed a discussion of cooperation mechanisms between Iraq and the US Department of the Treasury, and a review of the government's priorities in implementing economic and administrative reforms that fall within the government program.

The Prime Minister confirmed that the government has taken several measures with the Central Bank of Iraq in implementing financial reform, which is considered a key to economic reform in achieving the government’s goal of moving from a unilateral economy towards a productive and multi-economic economy, where, for the first time, a financial database for banking transactions was created, In order to achieve the required confidence in dealings with international banks.

He also pointed out the expansion of the government’s work in reducing money laundering operations at the procedural and judicial levels, by applying the required international standards, and enabling it to achieve real trade that supports the economy towards further development.

Al-Sudani stated that the government supports the private sector through a package of decisions and procedures, in addition to providing it with all necessary facilities in the federal budget for the three years.

For his part, Nelson appreciated the government reforms in the banking and financial sectors, and the government’s success in restoring the confidence of global financial institutions, such as Citibank and JP Morgan, stressing the US Treasury’s readiness to work closely with the Central Bank of Iraq and cooperate with Iraq in the files of financial liquidity and Iraqi commercial bank transfers outside the country. He renewed his country's support for the stability of the Iraqi economy.   LINK

Parliamentary Finance Calls For Controlling The Runaway Dollar

 Information / Baghdad..   On Tuesday, Member of the Parliamentary Finance Committee, Khalil Dusky, called on the Central Bank to take urgent measures to dry up the sources of dollar smuggling and control the black market.

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Dosky said in an interview with the Maalouma Agency, “Merchants’ failure to adhere to the electronic platform and resorting to the black market led to an increase in the price of the dollar in local markets.”

He added, "The only solution is to force merchants to adhere to the platform and control the black market."

Dosky pointed out that “there is a reluctance among traders to enter the electronic platform to buy the dollar.”

The Iraqi dinar has been going through an unenviable situation for nearly 20 years. After one dinar was worth 3 and a half dollars during the past century, it reached more than 1,550 to one US dollar, which caused the Iraqi economy to worsen. LINK

Integrity And Financial Oversight Pledge To Protect The Budget From The Lurking Of Corrupt People

Policy  09-19-2023 | 146 views  Al-Sumaria News - Local Affairs   The head of the Federal Integrity Commission, Haider Hanoun, and the head of the Federal Financial Supervision Bureau, Ammar Sobhi Khalaf, discussed today, Tuesday, the development of mechanisms to develop the preventive aspect in order to achieve proactive oversight, while pledging to protect the budget from the lurking of corrupt people.

The Integrity Commission stated in a statement received by Alsumaria News, that “Hanoun and Khalaf confirmed, during their meeting at the Commission’s headquarters, an increase in the pace of cooperation between the Commission and the Bureau in the field of combating corruption, preventing its spread and recovering its revenues, and positive interaction with the paragraphs of the government program and the ministerial approach to combating corruption.” And prosecute the perpetrators, and take the necessary preventive measures to prevent the waste of public money,” noting that “the government’s success in combating corruption is a duty placed on the oversight bodies.”

They stressed “the necessity of following up on contracts and tenders for the draft federal budget law that were approved for three years, pledging to protect the funds allocated thereunder for the projects, preventing them from reaching the pockets of the corrupt and thieves of public money, and ensuring that they go to their destinations in providing basic services and raising the standard of living.” and achieving economic development.”

According to the statement: “It was agreed to enhance cooperation by forming joint committees to save time and effort, to speed up the preparation of reports and the completion of joint work in accordance with the requirements of judicial decisions, and for the committees formed in the Prime Minister to complete their work.”   LINK

An Economist Explains The Reasons For Continuing To Sell Oil In Dollars

Information / Baghdad...Economic expert Safwan Qusay explained, on Tuesday, the reasons for continuing to sell oil in the dollar currency instead of dealing directly with countries to obtain revenues without going through the US Federal Bank.

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Qusay told Al-Maalouma, “Oil in all countries of the world is sold in dollars, and this matter came through the agreement after World War II to make oil sales in dollars, and this connection is still in effect to this day.”

He added, "If Iraq wants to sell oil to China in the yuan instead of the dollar, this means that Iraq sells in dollars and then converts it to the Chinese currency in order to move away from the US Federal Bank."

He stated, "There are many corrupt people who may be encouraged to own this money if they deal with the Chinese currency, so it is better to continue dealing with countries in the dollar currency because there is oversight from the Federal Reserve over this currency, in addition to ensuring that billions do not go into the hands of corrupt people under different titles." . LINK

Points to Ponder on Feelings:

Our feelings were given us to excite to action, and when they end in themselves, they are cherished to no good purpose -- Sanford

Strong feelings do not necessarily make a strong character -- The strength of a man is to be measured by the power of the feelings he subdues - not by the power of those which subdued him -- Richter

Cultivate consideration for the feelings of other people if you want not have your own injured -- Those who complain the most of ill-usage are those who abuse others the oftenest - Richter

The heart that is soonest to awake to the flower is always the first to be touched by the thorns -- Moore

Thought is deeper than all speech; feeling deeper than all thought; soul to souls can never teach what unto themselves was taught -- Cranch 

15 Worst Performing Currencies of 2023

15 Worst Performing Currencies of 2023

Usman Kabir   Mon, September 18, 2023

In this article, we discuss the 15 worst performing currencies of 2023. If you want to read about some more worst performing currencies, go directly to 5 Worst Performing Currencies of 2023.

A rise in interest rates by the Federal Reserve in the United States was expected to push the US dollar, the official currency in the country and the most popular globally, lower this year. However, robust economic data from the US, as well as a slowdown in major economies around the globe, has fueled rebound growth in the US dollar. This growth has also pressured the economics of prominent world powers, like China and Japan, who have been forced to resort to stimulus measures aimed at shoring up their local currencies.

Prominent financial stocks in the US like Mastercard Incorporated (NYSE:MA), PayPal Holdings, Inc. (NASDAQ:PYPL), and JPMorgan Chase & Co. (NYSE:JPM) have all jumped in value due to the prevailing economic conditions. Per data from the Commodity Futures Trading Commission, the net short bets on the dollar shrank to $7.17 billion in early September, from $21.28 billion in late July.

The July figure was a two-year high. Market experts, like Vassili Serebriakov, a foreign exchange and macro strategist at investment bank UBS, believe the data highlights the strength of the US economy against the rest of the world.

The strength of the US dollar can be viewed in context of the challenging economic conditions in China and loose monetary policy in other developing countries. Surging global prices for energy and food are also contributing to this strength in the dollar as other currencies go on a downward spiral.

 Japanese and Chinese authorities, as well as governments around the world, are stepping up regulations on foreign exchange markets to stop the rut. Edward Moya, a senior market analyst with OANDA and a veteran global currency strategist, believes that actions need to follow statements from fiscal chiefs.

Per Moya, the markets are not convinced of Japanese attempts to deal with currency rates and that attempts to limit the liquidity of the yuan are likely not to overcome the pressure a weakening economy has placed on the currency.

The strength of the US dollar can be measured by the US dollar index, which measures the performance of the USD against a basket of global currencies. In the past four weeks, this index is up by nearly 3%, to the highest levels seen since March. The past week has been especially kind on the index as it registered a jump of nearly 2% in a few days.

The strength of the dollar has hit currencies in developing nations. Coupled with rising inflation, inaction on parts of central banks, and trade deficit numbers, several currencies have nose-dived in value over the past few months. Government in these nations, like Turkey, Egypt, Pakistan, Lebanon, and Syria, have all been forced to look to international lenders like the International Monetary Fund and the World Bank for dollar inflows to stabilize the worsening economic conditions. Whether these bailouts are effective in the face of loose monetary policies is still up for debate.

Our Methodology

In this article, we will list the 15 worst performing currencies of 2023. The ranking is calculated by calculating the percentage decrease in value of the currencies in terms of the US dollar value. The currencies in which the percentage decrease in value in terms of the US dollar are the highest are considered the worst performing.

Data for this purpose has been taken from foreign exchange company XE. An initial data set comprising the 50 worst currencies with the highest value against the US dollar on January 2, 2023 was used. The percentage decrease was calculated by comparing this value against the worth of the currency against the US dollar on September 15, 2023. Digital coins were excluded from the list.

Pixabay/Public Domain   Worst Performing Currencies of 2023

15. Zambian Kwacha

Price Against 1 USD on January 2, 2023: 18

Price Against 1 USD on September 15, 2023: 20

Percentage Decline in Price in 2023: 11%

The Kwacha is the currency of Zambia, a country in Africa that borders Zimbabwe. The country used the British pound as the legal tender till 1964 before shifting to Kwacha. The Kwacha has taken a hit against the US dollar in recent months as private sector spending contracts, inflation hits record highs, and the central bank of the country raises interest rates to around 10% to combat rising prices. The Zambian currency is subject to uncertainty due to debt restructuring and dwindling copper production.

Top firms like Mastercard Incorporated (NYSE:MA), PayPal Holdings, Inc. (NASDAQ:PYPL), and JPMorgan Chase & Co. (NYSE:JPM) have all warned investors of the unstable economic situation in Zambia.

To continue reading, please go to the original article here:

https://finance.yahoo.com/news/15-worst-performing-currencies-2023-212504095.html

Iraq Economic News and Points to Ponder Monday Evening 9-18-23

Iraq Economic News and Points to Ponder Monday Evening  9-18-23

The Dollar Is Exhausting The Dinar.. The US Treasury Scatters Government Reforms And The Central Bank Negotiations “Fail”

Information / private..  The series of rising dollar exchange rates in Iraqi markets continues, amid conflicting opinions about the real reasons that led to the exhaustion of the local currency again, especially as it began to rise to levels that warn of a great danger to the country's economy.

Despite the many reasons, the timing of the visit of the US Assistant Secretary of the Treasury to Iraq and the meeting of the US delegation with the Governor of the Central Bank, and the subsequent significant rise in prices, raises controversy and questions.

Today, Monday, the dollar exchange rates witnessed a significant rise in the Iraqi markets, reaching more than 158 thousand dinars for every 100 dollars, amid fears that this rise will continue.

"Political file"

The economic file is perhaps more important than politics and what is happening in it, and it is the aspect that is focused on to thwart any government if it achieves successes and is able to get closer to the people.

Former member of the House of Representatives, Fadel Al-Fatlawi, considered the issue of the rise in the dollar exchange rate in local markets “purely political,” in relation to the relationship of the visit of the US Assistant Secretary of the Treasury to the rise of the dollar.

Al-Fatlawi said, in an interview with the “Al-Ma’louma” agency, that “the rise in the dollar exchange rates in the local markets inside Iraq is a political file to put pressure on Muhammad Shiaa Al-Sudani,” pointing out that “the government is serious about reducing the exchange rate, especially since it approved the amount of 132 thousand for every 100 dollars.” .

He adds, "There is a large financial reserve with the government, in addition to the large financial habits achieved from selling oil prices in global markets, all of which contribute to securing the Iraqi economy and maintaining the stability of the price of the local currency."

The former MP explains that “this pressure is being exerted on the government in agreement with the US Federal Bank,” suggesting that “prices will decline in the coming days.”

Al-Fatlawi explains, “The visit of the US Assistant Secretary of the Treasury to Iraq, in addition to the sanctions imposed on some banks, are all factors that caused the exchange rate to rise to these levels.”

"America's role"

The visit of US Assistant Secretary of the Treasury, Elizabeth Rosenberg, to Iraq scattered all the papers and reforms that the government was able to undertake during the previous period, and this was not to the liking of the American side, which imposed a new condition that led to prices rising again.

In turn, a knowledgeable economic expert revealed the main reason behind the continued rise in the dollar exchange rates in Iraqi markets, while he considered the Central Bank’s negotiations with US Treasury assistance “not successful.”

The expert stated, in an interview with the “Al-Ma’louma” agency, that “the rise in the dollar exchange rates in the Iraqi markets came as a result of the recent decision of the Central Bank of Iraq, which stipulated reducing cash sales to exchange companies of various types by half, which was implemented since yesterday.”

He points out, “The companies that used to get two million now have only one million, for example,” noting that “this decision will lead to a large deficit in the local markets, because the exchange companies’ sales go in parallel.”

The economist (who preferred to remain anonymous) confirms that “the decision to reduce the sales of exchange companies was taken at the request of the US Secretary of the Treasury during her visit to Baghdad.”

The expert continues, "The central bank negotiations with the American side were certainly not successful, and the evidence for this is the lack of control over the rise in exchange rates."

If the Iraqi economy wants to get rid of American hegemony, it must think about radical solutions that are far from a rentier economy and complete dependence on oil. Considering that all of the country's financial revenues come through this resource, whose money goes to the US Federal Bank, which allows the country's economy to be managed instead of the government. LINK

An Economic Analysis Of The Reasons For The Rise In The Exchange Rate In Iraq.. This Is America’s Role

Information/private..  Today, Monday, an informed economic expert revealed the main reason behind the continued rise in dollar exchange rates in Iraqi markets, while he considered that the Central Bank’s negotiations with US Treasury aid “were not successful.”

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The expert said, in an interview with the Maalouma Agency, that “the rise in the dollar exchange rates in the Iraqi markets came as a result of the recent decision of the Central Bank of Iraq, which stipulated reducing cash sales to exchange companies of various types by half, which was implemented since yesterday.”

He added, "The companies that used to get two million now have only one million, for example," noting that "this decision will lead to a large deficit in the local markets, because the exchange companies' sales go in parallel."

The economist (who preferred not to reveal his name) stated that “the decision to reduce the sales of exchange companies was taken at the request of the US Secretary of the Treasury during her visit to Baghdad.”

The expert stated, “The central bank negotiations with the American side were certainly not successful, and the evidence for this is the lack of control over the rise in exchange rates.”

Today, Monday, the dollar exchange rates witnessed a significant rise in the Iraqi markets, reaching more than 158 thousand dinars for every 100 dollars, amid fears that this rise will continue.

Earlier, the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, discussed with the Assistant Secretary of the US Treasury, Elizabeth Rosenberg, bilateral relations and discussed the measures taken in the field of combating money laundering and terrorist financing.   LINK

Al-Hakim: The Tripartite Budget Will Turn Iraq Into A Workshop With The Opportunities And Projects It Provides

09-18-2023 | 787 views   Al-Sumaria News - Local News  The head of the National Wisdom Movement, Ammar al-Hakim, confirmed today, Monday, that the tripartite budget will turn the country into a workshop due to the capabilities it provides.

Al-Hakim’s media office said in a statement received by Al-Sumaria News, “The head of the National Wisdom Movement, Ammar al-Hakim, met with the new British ambassador, Stephen Hitchen, wishing him success in his diplomatic mission in Iraq.”

Al-Hakim reiterated "the importance of Iraq's openness to its regional and international environment and its desire and endeavor in this direction, in a way that achieves the interests of its people," pointing to "the nature of the changes taking place in the Iraqi arena."

He pointed out that "the tripartite budget will turn the country into a workshop by virtue of the capabilities, opportunities, and service, urban and development projects it provides," stressing "the necessity of preserving Iraq's stability as it is in the interest of regional and international stability."

Al-Hakim stressed "the importance of reforming the administrative reality in the country, as it has suffered from overlapping and regression of laws, which requires modernizing it and updating the laws in line with the challenges and opportunities available." LINK

Monetary Policy Succeeds In Fueling Foreign Trade And Controlling Remittances

Economical  09/18/2023     Baghdad: Shukran Al-Fatlawi   Specialists in economic affairs praised the monetary policies that led to Iraqi banks’ compliance with the requirements of the electronic platform, which led to the control of external dollar transfer operations, stressing that the rise in the parallel exchange rate no longer significantly affected the prices of goods and materials in local markets. This is due to the success of remittances passing at the official exchange rate to feed foreign trade at a rate of approximately 90%.

The exchange rates in the parallel market witnessed a noticeable increase, exceeding the barrier of 156 thousand dinars per 100 dollars, mainly resulting, according to economic affairs specialists, from the presence of large trade with Iran and Syria, “which are banned from external transfer,” financed with the parallel dollar, indicating that this trade exceeded during Last year, it crossed the 10 billion mark.

Economic affairs specialists confirmed to Al-Sabah the day before yesterday that the reasons for the dollar’s ​​rise are due to “hypotheses” unleashed by beneficiary speculators and are supported and promoted by many economic or political analysts for several reasons, indicating that there is a link between the rise in the exchange rate and The dollar and the sanctions imposed on banks, and this link came as a result of traders and some people benefiting from “economic analysis.”

Economist Dr. Nabil Al-Marsoumi said during his speech to “Al-Sabah” that “the great efforts made by the monetary authority, since the launch of the electronic platform, succeeded in bringing Iraqi banks into compliance with the rules and requirements of that platform,” indicating that this compliance is positive and led to an increase in the sales of the Central Bank of Iraq to About $200 million a day.”

Al-Marsoumi believes, “Despite the success of the platform’s trends in passing bank transfers to more than 80 percent, and increasing the proportion of trade on this platform to about 90 percent, the gap is still large between the official and parallel prices of the dollar in the Iraqi market, pointing out that this The gap today amounts to about 20 percent, indicating at the same time that the greater the ability of the Central Bank to tighten control over the electronic platform, the greater the scarcity of the dollar in the Iraqi market and thus the higher its price.

According to the economist, the gap today is linked to an external variable, not an internal one, and is also caused by the presence of large trade with Iran and Syria financed with the parallel dollar, as these imports last year 2022 amounted to about 10 billion and 300 million dollars, and this trade cannot be financed through bank transfers via the platform. Electronic because Iran is subject to US sanctions.

He pointed out that this shows the need to pay Iranian merchants’ dues for their non-oil commodity exports to Iraq. Therefore, there has been pressure on the dollar in the parallel market, and the dollar is being smuggled to pay for real trade existing between the two countries. In addition, Iraqi travelers to Iran constitute about 55 percent of tourists.

Foreigners, who spent in the year 2022 an amount of three billion and four hundred million dollars, and therefore, these travelers are deprived of obtaining the dollar from the official market because Iran and Syria are among the punished countries and therefore are not allowed to obtain the dollar at the official price, so they resort to purchasing from the parallel market, which is This constitutes an additional pressure on the dinar.

Al-Marsoumi pointed out that the ideal and realistic solution is to give Iraq an exception by financing its imports from Iran through bank transfers.

On the same level, foreign remittances increased at the Central Bank’s auction yesterday, Sunday, by 85% at the expense of cash sales, to reach $171 million.

It is noteworthy that “the Central Bank sold, during its auction for buying and selling the US dollar yesterday, 197 million and 538 thousand and 76 dollars, which the bank covered at a base exchange rate of 1,305 dinars, per dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar.” dollars in cash.

The bank's dollar sales went to enhance balances abroad in the form of (transfers, credits), which amounted to 158 million, 274 thousand and 625 dollars, an increase of 85%, compared to cash sales of 25 million and 610 thousand dollars

.It is noteworthy that the number of banks that purchased cash dollars reached 7 banks, while the number of banks that responded to requests to enhance balances abroad reached 19 banks, while the total number of exchange and brokerage companies participating in the auction was 52 companies.

https://alsabaah.iq/84162-.html

Points to Ponder on Experiences:

When I was young, I was sure of everything; in a few years, having been mistaken a thousand times, I was not half so sure of most things as I was before; at present I am hardly sure of anything but what God has revealed to me – John Wesley

No man was ever endowed with a judgment so correct and judicious, but that circumstances, time, and experience would teach him something new, and apprise him that of those things with which he thought himself the best acquainted, he knew nothing; and that those ideas which in theory appeared the most advantageous were found, when brought into practice, to be altogether impracticable – Terrence

Vietnam and Iran News Posted by TNT Members 9-18-2023

TNT:

PM leaves Hanoi for high-level week of UN General Assembly’s 78th session  | Vietnam+ (9/18/23)

Hanoi (VNA) – Prime Minister Pham Minh Chinh and a high-ranking delegation of Vietnam left Hanoi on September 17 afternoon for the US to attend the high-level week of the 78th session of the United Nations General Assembly, and conduct bilateral activities in the country.

The PM is accompanied by Minister of Public Security General To Lam, Minister of Foreign Affairs Bui Thanh Son, Minister of Planning and Investment Nguyen Chi Dung, Minister of Industry and Trade Nguyen Hong Dien, Minister of Finance Ho Duc Phoc, Minister of Culture, Sports and Tourism Nguyen Van Hung, Minister of Information and Communications Nguyen Manh Hung, Minister of Health Dao Hong Lan

Minister of Natural Resources and Environment Dang Quoc Khanh, Vice Chairman of the Government Office Nguyen Xuan Thanh, Vietnamese Ambassador to the US Nguyen Quoc Dung, Permanent Representative of Vietnam to the UN Dang Hoang Giang, and Vietnamese Consul General in San Francisco Hoang Anh Tuan.

The General Debate of the 78th session of the United Nations General Assembly will take place under the theme of “Rebuilding trust and reigniting global solidarity: Accelerating action on the 2030 Agenda and its Sustainable Development Goals towards peace, prosperity, progress and sustainability for all.”

As an active and responsible member of the international community, and with positions in many major multilateral mechanisms, Vietnam has made effective and substantial contributions in all aspects at the multilateral forums, especially the UN.

Joining the General Debate, Vietnam continues to pursue its foreign policy of independence, self-reliance, peace, cooperation, and development, diversification and multilateralisation of relations, and further deepening these relations. 

As part of his trip to the US from September 17-23, Chinh will conduct bilateral activities to deepen the bilateral Comprehensive Strategic Partnership, concretise outcomes of the recent visit to Vietnam by President Joe Biden, and implement agreements and commitments made by the high-ranking leaders of the two countries in the spirit of the joint statement on elevating the Vietnam-US relations to a Comprehensive Strategic Partnership for peace, cooperation and sustainable development.

https://en.vietnamplus.vn/pm-leaves-hanoi-for-highlevel-week-of-un-general-assemblys-78th-session/268093.vnp

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Harambe:  AP News: $6 billion in Iranian assets once frozen in South Korea now in Qatar, key for prisoner swap with US (9/18/23)

 DUBAI, United Arab Emirates (AP) — Iran and the United States will exchange prisoners on Monday after some $6 billion once frozen in South Korea reached Qatar, a key element of the planned swap, officials said.

Iranian Foreign Ministry spokesman Nasser Kanaani was the first to acknowledge the swap would take place Monday. He said the cash sought for the exchange was now in Qatar. 

An individual with direct knowledge of the deal, who spoke to The Associated Press on condition of anonymity given the exchange had yet to be concluded, said that both Iranian and U.S. officials had been notified by Qatar that the money had been transferred from Switzerland into the Gulf Arab nation.

Kanaani made his comments during a news conference aired on state television, but the feed cut immediately after his remarks without explanation. 

“We witnessed freezing of parts Iranian assets in some countries including South Korea,” Kanaani said. “As part of our policy of active foreign diplomacy, fortunately Iran’s frozen assets in South Korea were released and God willing today the assets will start to be fully controlled by the government and the nation.”

“On the subject of the prisoner swap, it will happen today and five prisoners, citizens of the Islamic Republic, will be released from the prisons in the U.S.,” Kanaani added. “Five imprisoned citizens who were in Iran will be given to the U.S. side reciprocally, based on their will. We expect these two issues fully take place based on the agreement.”

He said two of the Iranian prisoners will stay in the U.S.

Iranian news agencies immediately afterward reported, quoting Kanaani, that the prisoner swap would be done on Monday. There was no other information immediately released by the agencies and Washington did not acknowledge the comments. 

The announcement by Kanaani comes weeks after Iran said that five Iranian-Americans are now under house arrest as part of a confidence-building move while Seoul allowed the frozen assets, held in South Korean won, to be converted into euros. That money was then sent to Qatar, an interlocutor between Tehran and Washington in the negotiations. 

The planned swap has unfolded amid a major American military buildup in the Persian Gulf, with the possibility of U.S. troops boarding and guarding commercial ships in the Strait of Hormuz, through which 20% of all oil shipments pass. 

The deal has also already opened President Joe Biden to fresh criticism from Republicans and others who say that the administration is helping boost the Iranian economy at a time when Iran poses a growing threat to U.S. troops and Mideast allies. That could carry over into his reelection campaign as well. 

On the U.S. side, Washington has said the planned swap includes Siamak Namazi, who was detained in 2015 and was later sentenced to 10 years in prison on internationally criticized spying charges; Emad Sharghi, a venture capitalist sentenced to 10 years; and Morad Tahbaz, a British-American conservationist of Iranian descent who was arrested in 2018 and also received a 10-year sentence.

U.S. official have so far declined to identify the fourth and fifth prisoner.

The five prisoners Iran has said it seeks are mostly held over allegedly trying to export material to Iran. 

The final dollar amount from Seoul could be anywhere between $6 billion to $7 billion, depending on exchange rates. The cash represents money South Korea owed Iran — but had not yet paid — for oil purchased before the Trump administration imposed sanctions on such transactions in 2019. 

The U.S. maintains that, once in Qatar, the money will be held in restricted accounts and will only be able to be used for humanitarian goods, such as medicine and food. Those transactions are currently allowed under American sanctions targeting the Islamic Republic over its advancing nuclear program.

Iranian government officials have largely concurred with that explanation, though some hard-liners have insisted, without providing evidence, that there would be no restrictions on how Tehran spends the money.

Iran and the U.S. have a history of prisoner swaps dating back to the 1979 U.S. Embassy takeoverand hostage crisis following the Islamic Revolution. Their most recent major exchange happened in 2016, when Iran came to a deal with world powers to restrict its nuclear program in return for an easing of sanctions.

Four American captives, including Washington Post journalist Jason Rezaian, flew home from Iran at the time, and several Iranians in the U.S. won their freedom. That same day, President Barack Obama’s administration airlifted $400 million in cash to Tehran.

Iran has received international criticism over its targeting of people with dual citizenship. The West accuses Iran of using foreign prisoners as bargaining chips, an allegation Tehran rejects.

Negotiations over a major prisoner swap faltered after then-President Donald Trump unilaterally withdrew America from the nuclear deal in 2018. From the following year on, a series of attacks and ship seizures attributed to Iran have raised tensions.

Meanwhile, Iran’s nuclear program now enriches closer than ever to weapons-grade levels. While the head of the United Nations’ nuclear watchdog has warned that Iran now has enough enriched uranium to produce “several” bombs, months more would likely be needed to build a weapon and potentially miniaturize it to put it on a missile — if Iran decided to pursue one. The U.S. intelligence community has maintained its assessment that Iran is not pursuing an atomic bomb.

Iran has taken steps in recent months to settle some issues with the International Atomic Energy Agency. But the advances in its program have led to fears of a wider regional conflagration as Israel, itself a nuclear power, has said it would not allow Tehran to develop the bomb. Israel bombed both Iraq and Syria to stop their nuclear programs, giving the threat more weight as it also is suspected in carrying out a series of killings targeting Iran’s nuclear scientists. 

Iran also supplies Russia with the bomb-carrying drones Moscow uses to target sites in Ukraine in its war on Kyiv, which remains another major dispute between Tehran and Washington.

https://apnews.com/article/iran-us-prisoner-swap-sanctions-assets-4e1fa477f8e6af45fb764acd259c2f1a

Harambe:  Iran expected to free five Americans in prisoner exchange | BBC News (9/18/23)

 Five Americans jailed in Iran are expected to fly home as part of a deal mediated by the Gulf state of Qatar. 

The four men and one woman, who also hold Iranian passports, will board a plane once it is confirmed that $6bn (£4.8bn) in Iranian funds once held in South Korea have reached banks in Doha. 

This is part of a deal reached last month after a year of indirect talks.  

Five Iranians imprisoned in US jails, mainly on charges of violating US sanctions, will also be released.

The Americans detained in Iran's notorious Evin prison were told many times before they would soon be freed. Now it seems that will finally happen on Monday morning.

They are reported to include 51-year-old Siamak Namazi; 59-year-old businessman Emad Shargi; and 67-year-old environmentalist Morad Tahbaz, who also holds British citizenship.

President Biden has long been urged to bring home Americans widely seen as hostages used by Iran as bargaining chips. 

For Iran, this deal frees money it earned from selling oil to South Korea - although the funds deposited in Qatar banks can only be used by third parties to purchase goods such as food and medicine.

The swap is complex and controversial. 

It is being condemned by leading US Republicans and Iranian activists who say it will only encourage more hostage taking. 

But this looks set to be a day of huge relief and joy for prisoners and their loved ones.

https://www.bbc.co.uk/news/world-middle-east-66841137

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Tishwash:  Iran: The prisoner exchange process with America will take place today.. What about the frozen funds?

Iranian Foreign Ministry spokesman, Nasser Kanaani, said on Monday, September 18, 2023, that a prisoner exchange with the United States will take place today and includes five Iranian prisoners and five American prisoners, according to what Reuters reported 

While the official Iranian news agency quoted Kanaani as saying: “Two of these people will return to Iran and one person will go to a third country to be with his family.” Two other people have expressed their desire to remain in America, and in return 5 prisoners will be extradited to America.”

Regarding Iranian funds frozen in...South Korea, Kanaani said that she would be in possessionTehranHe added: “Some of our property and resources have been frozen in...South KoreaAs a result of the repressive measures ofWashingtonAnd the pressure it put on some partnersIranToday, these properties are at disposalIranCompletely.”

For its part, the agency reportedReutersAccording to an undisclosed source, Qatar confirmed to...WashingtonAndTehranTransferring Iranian funds worth $6 billion to banks in...DohaShe added that a Qatari plane was inIranIt is preparing to transfer 5 Americans who will be released soon and two of their relatives to...Doha.

The prisoner exchange agreement, brokered by Qatar and announced on August 10, allows the departure of five American citizens detained in...IranIn exchange for transferring money to banks in Qatar and releasing five Iranians detained in the United States.

Last week, Iranian state media reported that Abdullahian, in a phone conversation with his Qatari counterpart, praised DoreDohaThe builder during the negotiations that lasted for months and resulted in the conclusion of the agreement.

Official Iranian media also quoted Qatari Prime Minister and Foreign Minister Sheikh Mohammed binAbdul Rahman Al ThaniThe process of transferring the released Iranian funds to Qatari banks will take place soon, perhaps next week.

In the same context, Qatar News Agency “QNA” reported last Thursday that the Iranian Foreign Minister thanked the State of Qatar. “For its role in facilitating reaching the Iranian-American agreement on the exchange of prisoners,” during a phone call with his Qatari counterpart, the Prime MinisterAbdul Rahman Al Thani.

In turn, the Qatari official confirmed the commitmentThe State of QatarBy supporting all regional and international efforts aimed at achieving security and stability in the region. link

Iraq Economic News and Points to Ponder Monday Afternoon 9-18-23

Iraq Economic News and Points to Ponder Monday Afternoon  9-18-23

Tlm724 Administrator Bondlady’s Corner

The Prime Minister Arrives In New York

Political | 12:49 - 09/18/2023  Baghdad - Mawazine News  Prime Minister Muhammad Shiaa Al-Sudani arrived in New York on Monday.  The Prime Minister's Media Office stated in a statement, a copy of which Mawazine News received, that "Prime Minister Muhammad Shiaa Al-Sudani arrived in New York."  He added, "The Prime Minister will participate in the meetings of the United Nations General Assembly, at its seventy-eighth session."   https://www.mawazin.net/Details.aspx?jimare=235161

Oil Prices Begin Trading On The Rise, With Brent Exceeding $91 Per Barrel

Economy |  09/18/2023 Baghdad - Muzine News  Oil prices rose for the third consecutive session on Monday, supported by expectations of a worsening supply deficit in the fourth quarter of the year after Saudi Arabia and Russia extended production cuts and by optimism about a recovery in demand in China, the world's largest producer. The largest importer of raw materials.

By 04:12 GMT, Brent crude futures rose 39 cents, or 0.4 percent, to $94.32 per barrel, while US West Texas Intermediate crude futures reached $91.30 per barrel, up 53 cents, or 0.6 percent.

Brent and West Texas Intermediate crude rose for three consecutive weeks, touching their highest levels since November, and are on track to achieve their largest quarterly increase since the Russian invasion of Ukraine in the first quarter of 2022. Saudi Arabia and Russia extended supply cuts until the end of the year within the framework of OPEC+ plans, and with an increase

... Chinese refineries produce, driven by strong export margins.

“It looks like prices will easily find a home above $90 a barrel, which means the focus may shift to demand expectations from the world’s two largest economies,” said Edward Moya, an analyst at OANDA.   https://www.mawazin.net/Details.aspx?jimare=235142

Central Bank Sales Amounted To More Than $198.2 Million

Economy News – Baghdad   Today, Monday, the Central Bank of Iraq’s sales in the foreign currency sales window amounted to more than 198.2 million dollars.

The Central Bank's website published its dollar sales schedule, which Al-Iqtisad News reviewed. It included the participation of 28 banks and 60 exchange companies, and foreign transfer requests covered $173.4 million, while cash requests amounted to more than $24.8 million.

The Central Bank of Iraq sells the dollar for documentary credits and international settlements for electronic cards at a price of 1,305 dinars per dollar, for every dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar in cash.

Views 26  09/18/2023 - https://economy-news.net/content.php?id=36422

In Baghdad.. The Dollar Continues To Rise

Economy  Monday, September 18, 2023 Baghdad / National News Center  Today, Monday, the exchange rates of the US dollar witnessed a new rise in the markets of the capital, Baghdad.

Selling prices in exchange shops in local markets in Baghdad reached 158,250 Iraqi dinars per 100 dollars, while purchasing prices reached 156,250 dinars per 100 dollars. https://nnciraq.com/227421/

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

https://www.bondladyscorner.com/

Points to Ponder From "Daily Reflections For Highly Effective People" By Stephen Covey:

You can decide within yourself how circumstances will affect you -- Between what happens to you or the stimulus - and your response to it -- is your FREEDOM or POWER to CHOOSE that response -- p. 69

The word proactive means more than merely taking initiative -- It means that as human beings - we are responsible for our own lives -- Our behavior is a function of our decisions - not our conditions -- We can subordinate feelings to values -- We have the initiative and the responsibility to make things happen -- p. 71

If you're proactive -- you don't have to wait for circumstances or other people to create perspective expanding experiences -- You can consciously create your own -- p. 131 

The law of the harvest governs: we will always reap what we sow -- no more - no less -- The law of justice is immutable - and the closer we align ourselves with correct principles - the better our judgment will be about how the world operates and the more accurate our paradigms -- our maps of the territory -- will be -- p. 305

When two people in a marriage are more concerned about getting the golden eggs , the benefits, than they are in preserving the relationship that makes them possible -- they often become insensitive and inconsiderate - neglecting the little kindnesses and courtesies so important to a deep relationship -- They begin to use control levers to manipulate each other - to focus on their own "wants" - to justify their own position and look for evidence to show the wrongness of the other person -- The love - the richness - the softness and spontaneity begin to deteriorate -- The goose gets sicker day by day -- p. 55

You can buy people's hands - but you can't buy their hearts -- Their hearts are where their enthusiasm - their loyalty is -- You can buy their backs - but you can't buy their brains -- that's where their creativity is -- their ingenuity - their resourcefulness -- p. 58

Marilyn Ferguson observed -- "No one can persuade another to change -- Each of us guards a gate of change that can only be opened from the inside -- We cannot open the gate of another - either by  argument or by emotional appeal"  If you decide to open your "gate of change" to really understand and live the principle embodied in the Seven Habits - your growth will be evolutionary - but the net effect will be revolutionary -- p. 60-61

Many people seem to think that success in one area can compensate for failure in other areas of life -- But can it  really? Perhaps it can for a limited  time in some areas -- But can success in your profession  compensate for a broken marriage - ruined health - or weakness  in  personal character? -- true effectiveness requires balance -- p. 161

"Tidbits From TNT" Monday Morning 9-18-2023

TNT:

CandyKisses:  US lawmakers introduce bill to block digital dollar

Economy News-Baghdad

The US House of Representatives Financial Services Committee has announced that it will go ahead with new legislation aimed at preventing the central bank from issuing a digital currency (CBDC).

According to the announcement by Chairman Patrick McHenry, the committee will submit two draft laws on the potential digital dollar on September 20. Lawmakers will debate details of the bills in private sessions, as a crucial step before the bill moves to the House of Representatives.

The first bill, introduced by Representative Alex Mooney in May, would prevent the Federal Reserve from initiating pilot programs to test central bank-issued cryptocurrencies without congressional approval

Tishwash:  Sudanese arrives in New York

Prime Minister Muhammad Shiaa Al-Sudani arrived on Monday in New York City in the United States of America.

The Prime Minister's Media Office said in a statement received by Shafaq News Agency, "Al-Sudani arrived in New York to participate in the meetings of the United Nations General Assembly, in its seventy-eighth session."

Al-Sudani left the capital, Baghdad, yesterday evening, Sunday, heading to New York to participate in the meetings of the United Nations General Assembly at its seventy-eighth session.

This came according to a brief statement issued by his media office and received by Shafaq News Agency.

The Iraqi delegation will participate in the meetings of the United Nations General Assembly, headed by Al-Sudani and Foreign Minister Fuad Hussein, and they will meet there with many world leaders, according to Foreign Ministry spokesman Ahmed Al-Sahhaf.

Hussein arrived last Friday in New York to prepare for the Prime Minister's visit, in preparation for participating in the meetings of the United Nations General Assembly.  link

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Tishwash:  Mr. Al-Hakim: The tripartite budget will turn the country into a workshop in line with the challenges and opportunities available

The head of the National State Forces Alliance, Mr. Ammar al-Hakim, confirmed today, Monday, that the tripartite budget will turn the country into a workshop by virtue of the capabilities, opportunities, and service, urban, and development projects it provides,

Al-Hakim’s media office stated in a statement received by {Al-Furat News}: “During our meeting with Stephen Hitchen, the new British ambassador, we wished him success in his diplomatic mission in Iraq, and we reiterated the importance of Iraq’s openness to its regional and international environment and its firm desire and endeavor in this direction, in a way that achieves interests of its people and preserves its sovereignty.”

 Mr. Al-Hakim referred to “the nature of the changes taking place in the Iraqi arena,” indicating that “the tripartite budget will turn the country into a workshop by virtue of the capabilities, opportunities, and service, urban, and development projects it provides, while we highlighted the necessity of preserving Iraq’s stability as it is in the interest of regional and international stability.” 

He stressed the importance of reforming the administrative reality in the country, as it has suffered from overlapping and declining laws, which requires modernizing it and updating the laws in line with the challenges and opportunities available.   link

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Tishwash:  A shocking number in the number of electronic financial cards in Iraq, and this is the amount allowed to be withdrawn daily

 On Sunday, financial and banking experts revealed the number of electronic financial cards in Iraq and the size of the amount allowed to be withdrawn daily.

Financial and banking expert Dr. Mahmoud Dagher said in an interview with the Al-Thamia program presented by our colleague Ahmed Al-Tayeb told that “the number of electronic financial cards has exceeded 20 million cards in the country,” explaining that “the amount that is allowed to be dealt with daily via the card is $1,400.” For a regular card.

He pointed out that “a large portion of the dollar in Iraqi markets goes to Iran,” noting that “transfers through the platform do not allow any transfer to go to the sanctioned entities.”

Dagher continued, “Bank owners will no longer be involved in transfers to banned entities,” noting that “Iran will not be able to enter a single dollar except with the approval of the United States and through the European mechanism.”

He pointed out that “Iraq cannot solve Iran’s major problems with the international community,” explaining that “the stock exchange for selling the parallel dollar is not in Baghdad.”

For his part, Mustafa Akram Hantoush, an economic expert, said, “The US Treasury Assistant Secretary’s goal in visiting Iraq is to stop the smuggling of dollars across the border, and she is responsible for stopping the smuggling of dollars to banned groups.”

He pointed out that “there is a process of collecting small remittances in some non-sanctioned countries and then they are resold locally,” noting that “banning new Iraqi banks has become useless for the United States.”   link

Mot:  .. and the Challenge is On!!!!

Mot: .. Just Love this Guy!! -----

Iraq Economic News and Points to Ponder Monday AM 9-18-23

Iraq Economic News and Points to Ponder Monday AM 9-18-23

Deputy: The Continued Rise In The Exchange Rate Of The Dollar Against The Dinar Requires Serious Government Measures

Economy  11:16 - 2023-09-18  Member of the Parliamentary Finance Committee, Mustafa Al-Karaawi, confirmed that the continued rise in the exchange rate of the dollar against the dinar requires real government measures.

Al-Karaawi said in a press interview, “The US Treasury Department’s imposition of new sanctions on Iraqi banks means that Iraqi banks have not adhered to the instructions,” warning of “major economic repercussions that the Iraqi financial market will witness, due to the United States imposing sanctions on a number of banks, including a rise in... Dollar exchange rate.

He added, “The rise in the dollar exchange rate will not stop, and there will be a gradual rise every day, and this matter requires a real government stance and measures to address this matter,” noting that “the issue may turn into a monetary crisis like the one that occurred during the past months with the beginning of the formation of the new government.” This matter requires an Iraqi diplomatic movement towards the US Treasury and the US Federal Reserve.”

The representative pointed out that “the Finance Committee will work to host the figures and responsible authorities in the Central Bank to discuss the repercussions of the crisis and to find out what the bank’s measures are to confront the significant rise in the exchange rate in the local market.”

The dollar exchange rates continued to rise on the black market, as the exchange rate reached 158,250 dinars per 100 dollars.    https://kirkuktv.net/AR/Details/17453

Embezzlement And Manipulation Of Two Billion And 400 Million Dinars

The first  09/18/2023    Baghdad: Rula Watheq  revealed that the Federal Bureau of Financial Supervision revealed that there was tampering with the disbursement documents of an oil company in the amount of two billion and four hundred million dinars, by repeating the disbursement or organizing fake documents during the current year.

An official source at the Bureau told Al-Sabah: Tampering with exchange documents in an oil company amounting to two billion and 400 million dinars was detected during the current year, noting that the Bureau referred the report issued by it during the month of March of the current year regarding the embezzlement of an amount of seven billion dinars in one of the offices. Oil companies during the years 2020 - 2021 to the competent court to take judicial measures against those manipulating public funds.

https://alsabaah.iq/84182-.html 

The Dollar Recorded A New Jump And Touched 160 Thousand In The Local Market

Economy |Today  Baghdad today - Baghdad    Today (September 18, 2023), the dollar exchange rates recorded a new jump, touching 160 thousand in the local markets.

The "Baghdad Today" correspondent said, "The dollar exchange rates rose today, recording 159,000 dinars for every 100 dollars."

Earlier today, the dollar exchange rate recorded a noticeable increase, as the selling price reached 158,250 dinars per 100 dollars, and the purchase price reached 156,250 dinars per 100 dollars. LINK

Dollar Exchange Rates On Iraqi Stock Exchanges

09-18-2023 | 4,395 views  Alsumaria News – Local  Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in Iraqi local markets for Monday, September 18, 2023.

The dollar continues to rise with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording 157,200 dinars for 100 dollars. As for the selling prices in the exchange shops in the local markets in Baghdad, they stabilized, as the selling price reached 158,250 Iraqi dinars, while the purchasing price reached 156,250 dinars for every 100 dollars.

For more than 7 months, and specifically since the Central Bank began operating the electronic platform and the international financial transfer system ““SWIFT,” the dollar exchange rates in Iraq have not witnessed stability despite the attempts of the government and the Central Bank to control the exchange rate in the parallel (black) markets.

The   Central Bank of Iraq  decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the price of buying the dollar from the Ministry of Finance  reached 1,300 dinars per dollar and selling it at (1,310) dinars per dollar to banks through the electronic platform, and it is sold for (1,320) dinars per dollar. Dollars from banks and non-banking financial institutions to the final beneficiary. LINK

Iraq Allocates More Than 15 Billion Dinars To Build A 50-Km-Long Wall On The Border With Syria

MONDAY, 09-18-2023, AM 9:48  TAYSEER AL-ASADI  Yesterday, the Iraqi Council of Ministers allocated more than 15 billion dinars to construct a cement wall on the Iraqi-Syrian border, to complement the previous wall in the Sharji al-Rawi area, south of Tel Safouk.

The “INA” agency quoted the Iraqi Council of Ministers’ media office as saying in a statement: “In confirmation of the directives of the Commander-in-Chief of the Armed Forces to strengthen the security of the Iraqi borders, the Council of Ministers approved the allocation of the Ministry of Finance, fifteen billion one hundred and forty million and four hundred thousand dinars to the Ministry of Interior from Emergency reserve allocations,

for the construction of a concrete wall on the Iraqi-Syrian border - the sixth region border sector, in continuation of the previous wall from the Sharji Al-Rawi area south of Tal Safuk, passing through Wadi Al-Ajij towards Tarifawi, with a length of 50 km, provided that implementation is done using the public tender method, based on Provisions of Article 6 of the Federal General Budget Law for the three fiscal years.”

Iraq has repeatedly stressed that the system of engineering fortifications on the border with Syria aims to prevent the infiltration of terrorist elements across the international border.

In 2015, it was announced the establishment of the Quartet Information Exchange Center, which includes Syria, Iraq, Russia, and Iran, and its headquarters is in the Iraqi capital, Baghdad, with the aim of fighting the terrorist organization ISIS in Syria and Iraq.

The center works to coordinate the efforts of the four countries in confronting terrorism and has held several meetings since its establishment, the most recent of which was on February 24, where participants discussed security developments in the region.  https://non14.net/public/160240

An Explanation Of Erbil’s “Pleasure” With Baghdad’s Loan.. Kurdistan’s Oil Will Resume Flowing Late Next Month - Urgent

Economy |Today  Baghdad today - Baghdad   The intensity of the exchange of statements between the governments of the Kurdistan Region and Baghdad reached its peak at the beginning of this September, following the repercussions of the events in Kirkuk, which were preceded by a decision by the Federal Court in Baghdad that it was unconstitutional to send money to the Kurdistan Region, igniting a crisis between the two parties.

There were reports that the Prime Minister of the Regional Government, Masrour Barzani, sent a letter to US President Joe Biden in which he requested intervention from Washington regarding the crisis related to monthly funds to Erbil, so that the crisis ended with an agreement announced by Masrour Barzani, who recently visited Baghdad with a Kurdish delegation, to reach an agreement with the Prime Minister.

Muhammad Shiaa Al-Sudani, who put the agreement on the table of the Council of Ministers session yesterday, Sunday (September 17, 2023), and ended with a vote on sending Baghdad three payments in the amount of one trillion and 100 billion dinars, and in the amount of 700 billion dinars for each month.

According to a source in the Ministry of Finance of the regional government who informed “Baghdad Today” that the federal government will send the salaries for the month of September after releasing the salaries of employees in other Iraqi governorates, but employees in the region have not received the salaries for the months of July and August yet.”

Fiscal Deficit

In response to this agreement, economic expert Nabil Al-Marsoumi believes that “the Kurdish welcome to the agreement with Baghdad to lend the region 2.1 trillion dinars to pay the salaries of the region’s employees suggests the imminent export of Kurdistan’s oil via Turkey and no later than the end of next month.”

Al-Marsoumi says in a blog post on his personal account on the Facebook platform, “On the contrary, the region will once again be unable to pay salaries because the loan amount is not sufficient with the region’s other resources, without oil revenues, to pay salaries for only three months, from July to September, and the region will then need... Borrowing another 2.1 trillion from Baghdad to pay employees’ salaries for the last quarter of this year.”

On August 31, 2023, the Kurdistan Region Oil Industry Association said that the closure of the Iraqi oil export pipeline to the Mediterranean coast of Turkey had cost producers and the Iraqi government losses of about 4 billion dollars.

Continuing Losses

According to the association, which includes a group of foreign and local companies working in the field of oil production, losses are expected to continue despite initial talks between the Iraqi and Turkish governments to resolve the problem.

Producers in the region located in northern Iraq were forced to reduce production since Turkey stopped flows through the pipeline.

An international arbitration court ruled that Turkey was obligated to pay compensation to Iraq worth $1.5 billion for unauthorized exports that left the region located in northern Iraq between 2014 and 2018.

The Kurdistan Region Oil Industry Association also announced, on Thursday, that the association’s member companies will not resume production and pumping oil from the region even if the government reaches an agreement with the Turkish authorities.

The association said that it "will not produce oil for export via pipelines until it is clear how international oil companies will be paid for their contractual entitlement to exported oil in the past and in the future."

The association also called on the oil industries of the Iraqi Kurdistan Regional Government to “provide guarantees that fully protect the rights of companies, including financial rights,” stressing that they were “significantly harmed” by the Iraqi Kurdistan Regional Government’s violation of the official agreements governing the export of oil and the resulting suspension of exports. It caused “billions” worth of damage to companies, according to its description.

It is noteworthy that the companies' threats coincide with continuous announcements from the Iraqi and Turkish governments indicating that they are close to signing an agreement guaranteeing the export of oil from the Iraqi Kurdistan region through the port of Ceyhan without problems.

Turkish Advertisement

Turkish Energy Minister Alp Arslan Bayraktar announced on Thursday (September 14, 2023) that the oil pipeline between Iraq and Turkey will be technically ready for operation soon, and will be qualified to transport oil from northern Iraq to the Turkish port of Ceyhan for export, without specifying a specific date. Indicating that the line inspection has been completed.

Bayrakdar said in a press briefing, “As of today, Thursday (September 14), an independent survey company has completed its work and is now preparing the report.”

Turkey stopped flows through the pipeline on March 25 after a ruling in an arbitration case issued by the International Chamber of Commerce ruled Ankara to pay compensation to Baghdad for unauthorized exports by the Kurdistan Regional Government of Iraq between 2014 and 2018.

Turkey then began maintenance work on the pipeline that passes through a seismically active area, which it says was damaged by the earthquake that struck Turkey last February.

Last August, Iraqi Oil Minister Hayan Abdul Ghani agreed with Turkish Minister of Energy and Natural Resources Alp Arslan Bayraktar in Ankara on the importance of resuming the flow of Iraqi Kurdistan oil to Turkey, after the completion of pipeline rehabilitation operations.

$1.47 billion

It is noteworthy that Turkish President Recep Tayyip Erdogan had held Baghdad responsible for resuming the pumping of Iraqi Kurdistan’s oil, as he announced on July 12, 2023, that the delay in the return of supplies and the payment of compensation was due to the dispute between the central government in Baghdad and the regional government in Erbil.

The Iraqi authorities had filed a lawsuit against Turkey for obtaining crude oil from the Kurdistan region without its approval, which the International Chamber of Commerce relied on in its ruling to stop exports, and ruled to compensate Baghdad about 1.47 billion dollars.

The decision led to the interruption of supplies amounting to about 400,000 barrels per day of crude oil from Kurdistan fields in northern Iraq, in addition to 75,000 barrels from other Iraqi regions heading from Kirkuk to the Turkish port of Ceyhan on the Mediterranean Sea, with a length of 970 kilometers.

 Source: “Baghdad Today + Agencies”  LINK

Points to Ponder From "Daily Reflections For Highly Effective People" By Stephen Covey:

Our character - basically - is a composite of our habits --  Because they are consistent - often unconscious patterns - they consistently - daily - express our character and produce our effectiveness......... or ineffectiveness -- p. 46

It becomes obvious that if we want to make relatively minor changes in our  lives -- we can perhaps appropriately focus on our attitudes and behaviors -- But if we want  to make  significant -- quantum change - we need  to work on our basic paradigms -- p. 31

Change -- REAL CHANGE -- comes from the inside out -- It doesn't come from hacking at the leaves of attitude and behavior with quick fix personality ethic techniques -- it comes from striking at the root -- the fabric of our thought - the fundamental - essential paradigms - which give definition to our character and create the  lens through which we see the world -- p. 317

MilitiaMan: Iraq Dinar - Progression - United Nations - Internationalism

Iraq Dinar - Progression - United Nations - Internationalism

MilitiaMan and Crew:  9-17-2023

The Crew:  Samson, PompeyPeter, Petra, Angel1,  Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=KGGyKv8_88c

Goldilocks' Comments and Global Economic News for September 17th

Goldilocks' Comments and Global Economic News for September 17th

Good Evening Dinar Recaps,

California sues major oil companies
The American state of California has sued a number of the world's largest oil companies, accusing them of causing the climate crisis, the New York Times reported
The civil suit, which was filed in San Francisco, seeks the setting up of a special fund at the companies' expense to compensate the state for the costs of climate change-related disasters.
The defendants are five companies: Exxon Mobil, Shell, BP, ConocoPhillips, and Chevron, as well as the American Petroleum Institute.

Among other things, the state accuses them of a longstanding practice of underreporting the risks of hydrocarbon fuels and deceiving the public.

In recent years, similar lawsuits have been filed in courts of various instances by seven more American states and dozens of municipalities, the newspaper says.
(https://www.nytimes.com/2023/09/15/business/california-oil-lawsuit-newsom.html).

We don't even know how to joke here

https://twitter.com/MultiPolarMarkt

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Basel Committee will look at interest rate risk and liquidity reforms - Central Banking

The Basel Committee on Banking Supervision will examine whether to change global regulations on interest rate risk and liquidity, its chairman announced on September 14.

Pablo Hernández de Cos said the committee would examine interest rate risk in the banking book, or IRRBB. The oversight body for the Basel Committee met earlier this week and agreed to examine both interest rate risk and Basel III’s liquidity rules.

https://www.centralbanking.com/regulation/7959738/basel-committee-will-look-at-interest-rate-risk-and-liquidity-reforms

👆We talked about this early this month. This would be a period of time when adjustments to Capital requirements would be made.

And now, over halfway in the month, we are seeing just that...

© Goldilocks

~~~~~~~~~~

"Bond Tokens” are currently being distributed to Swift’s newly designed digital platform inside test wallets.

A bond token usually pays interest twice a year. The DTCC and Chainlink have joined forces to present this new offering inside the new digital economy.

The Depository Trust & Clearing Corporation provides clearing and settlement services for the banks and the markets.

As you can see, this is a big step for our Markets and Banks to create sustainable money flows providing liquidity for currency, foreign currency, and other sectors of the market.

© Goldilocks

Crypto Times Link
Investor Vanguard Link
https://www.lcx.com/the-rise-of-tokenized-bonds-a-new-era-for-investments/

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Russia is going gold in global currency wars: Rouble vs the fiat currency system

Russia and Saudi Arabia are increasing the price of oil by creating more of a demand for it. As they continue to limit their production of oil, it will continue to create price pressures on the overall value of oil.

Although this will undermine the value of the Ruble over the Dollar, there are conversations taking place that the Ruble will be backed by gold soon or the introduction of a gold-backed BRICS currency is coming.

This will move us away from a Currency War to a Gold Standard Protocol. It will no doubt be a significant blow to the dollar and begin to level the playing field across the board on the new digital payment systems taking place under local currencies in the East.

Just the other day, we shared an article about the Global Gold Mutual Fund creating a gold standard for the Philippines with invitations for other countries to come on board by January the 20th, 2024.

Are we about to see new standard protocols inside the new digital asset-based trading system come into fruition?

© Goldilocks
https://www.biznews.com/global-investing/2023/09/15/russia-going-gold-currency-wars

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BRICS: De-dollarization Summit
https://www.atalayar.com/en/opinion/ifimes/brics-dollarization-summit/20230915083528190940.html

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China cuts banks' reserve ratio to aid recovery
https://www.cnbc.com/2023/09/14/china-central-bank-to-cut-banks-reserve-requirement-ratio-by-25-basis-points.html

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Vietnam starting E-visa service for the business community: ambassador - Business & Finance - Business Recorder
https://www.brecorder.com/news/40263593

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The Future of Payments is Real-Time
https://www.finextra.com/blogposting/24908/the-future-of-payments-is-real-time

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Since 1971, no paper currency has been pegged to gold, except for the Swiss franc, which severed its gold linkage in 2000.

Today global debt is over $300 trillion.
Today, the gold price in China is trading at a RECORD premium compared to international prices.
The second-largest economy on the planet.

Read: https://x.com/goldtelegraph_/status/1703432226388783432?s=46

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As our markets shift into tokenized assets, I just simply want to share a Memorial Song that reflects our transition into the new digital-asset-based trading system.

© Goldilocks
https://youtu.be/WfzOTtwGi5M?feature=shared

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The Gold Shift Has Begun

https://youtu.be/NgYzUWb2ols?feature=shared

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Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

Goldilocks' Telegram Room

Q & A Telegram Room

Goldilocks on the Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

Iraq Economic News & Points to Ponder Sunday Afternoon 9-17-23

Iraq Economic News & Points to Ponder Sunday Afternoon  9-17-23

Tlm724 Administrator Bondlady’s Corner

65 Trillion Dinars In Iraq’s Financial Revenues Within 7 Months

Iraqi state spending  Economy News – Baghdad  The Ministry of Finance revealed, on Sunday, that the volume of Iraqi financial revenues in the federal budget during seven months exceeded 65 trillion dinars, confirming that the oil contribution to the budget had risen to 95%, while an economist believes that non-oil revenues “will not improve.”

Al-Eqtisad News followed the data and tables issued by the Ministry of Finance this September for the accounts from January until last July for the current fiscal year, which showed that oil is still the main resource for Iraq’s general budget, reaching 95%. Which indicates that the rentier economy is the basis of Iraq's general budget.

The financial tables indicated that the total revenues until last July amounted to 65 trillion and 195 billion and 3 million and 735 thousand and 974 dinars, after excluding transfer revenues, which amounted to one trillion and 995 billion and 73 million and 713 thousand dinars, indicating that the total expenditures with advances amounted to 52 trillion and 916 dinars. One billion and 562 million and 761 thousand dinars.

According to the financial tables, oil revenues amounted to 62 trillion and 259 billion and 118 million and 923 thousand and 534 dinars, which constitute 95% of the general budget, while non-oil revenues amounted to two trillion and 935 billion and 884 million and 812 thousand and 439 dinars.

The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, confirmed in March 2021, in an interview with Shafaq News Agency, that the reasons for the economy remaining rentier are due to wars and the imposition of the economic blockade on Iraq during the past era, and the political conflicts we are witnessing today, which led to the dispersion of... for economic resources.

The Iraqi state’s continued reliance on oil as the sole source of the general budget puts Iraq at risk from the global crises that occur from time to time because oil is affected by them, which makes the country tend every time to cover the deficit through borrowing from abroad or within, and thus indicates the inability to Managing state funds effectively, and the inability to find alternative financing solutions.

Views 57  Added 09/17/2023 - https://economy-news.net/content.php?id=36403

Central Bank Sales Amounted To More Than 197 Million Dollars

Economy News – Baghdad  Today, Sunday, the Central Bank of Iraq’s sales in the foreign currency sales window amounted to more than 197.5 million dollars.

The Central Bank's website published its dollar sales schedule, which Al-Iqtisad News reviewed. It included the participation of 26 banks and 52 exchange companies, and foreign transfer requests covered $171.9 million, while cash requests amounted to more than $25.6 million.

The Central Bank of Iraq sells the dollar for documentary credits and international settlements for electronic cards at a price of 1,305 dinars per dollar, for every dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar in cash.

Views 53   Added 09/17/2023 - https://economy-news.net/content.php?id=36397 

Iraq's Oil Exports To America Rose By More Than Half The Amount Exported Last Week

Energy   Economy News – Baghdad  The US Energy Information Administration announced on Sunday that Iraq's oil exports to America rose by more than half the amount exported last week.

The administration said in a table seen by Al-Eqtisad News, “The average US imports of crude oil during the past week from seven major countries amounted to 6.346 million barrels per day, an increase of 524 thousand barrels per day compared to the previous week, which amounted to 5.822 million barrels per day.”

She added, "Iraq's oil exports to America reached an average of 248 thousand barrels per day last week, an increase of 148 thousand barrels per day from the previous week, which reached an average of 100 thousand barrels per day."

The administration also indicated that “the most oil revenues to America during the past week came from Canada at an average of 3.645 million barrels per day, followed by Mexico with an average of 1.095 million barrels per day, and oil revenues from Brazil amounted to an average of 545 thousand barrels per day, and then Saudi Arabia at an average of 383 thousand barrels.” Daily".

According to the table, “the amount of American imports of crude oil from Nigeria is at a rate of 219 thousand barrels per day, and from Colombia at a rate of 211 thousand barrels per day, while no quantity is imported from Russia, Libya, or Ecuador.”

Views 66  Added 09/17/2023 - https://economy-news.net/content.php?id=36385

Financial Innovation In Iraq: Shifting To A Cashless Payments Landscape

Mario Macari    Economy News – Baghdad  The business sector around the world is witnessing a real revolution as a result of the adoption of digital payment systems. This heralds many transformations in many countries such as Iraq, where monetary solutions have always dominated the financial system. Although Iraq has one of the lowest rates of access to financial services in the world, with only 19% of its adult population having bank accounts, the country has taken important steps to achieve financial inclusion[1].

The Central Bank of Iraq launched several initiatives in its second strategic plan for the years 2021-2023 in order to confront this challenge. We have witnessed the implementation of many important reforms, such as supporting digital financial services, mandating the use of direct points of sale in financial transactions, reducing commercial fees, imposing linking bank accounts, and providing incentives to encourage the use of direct points of sale.

These initiatives, as a whole, aim to accelerate the pace of transition to non-cash payments so that companies and individuals can achieve optimal benefits from them.

Given their ability to influence consumer purchasing habits, merchants are critical players in this trend. By shifting their payment models to digital platforms, merchants can transform their business as well as contribute to a significant change in the overall economy. Thanks to the availability of safety and transparency, merchants can encourage the adoption of financial reforms among the population, by adopting direct point of sale systems and adopting digital culture.

Unfortunately, many merchants face many challenges in terms of lack of awareness and financial education when creating and using digital payment systems. The lack of proper training in accepting these systems and financial education hinders merchants and consumers alike, often confining them to the traditional realm of cash transactions.

Perhaps the prosperity of the digital payment system will greatly help increase financial inclusion and enhance economic growth in emerging markets such as Iraq. Digital transactions are fast and easy to track, while giving merchants relevant insights into their future sales and budgets. These payments involve less risk compared to cash transactions. With the right infrastructure and local payment service providers, digital payments can provide merchants with an optimal platform to gradually grow their business.

The Iraqi government is fully aware of the importance of digital transformation to enhance viable and prosperous economies. Recently issued policies by the Central Bank of Iraq and the government to support digital payments are scheduled to be implemented this year.

Moreover, according to Statista, a company specialized in market studies and statistics, the total value of transactions in the digital payments market is expected to reach $10 billion in 2023[2].

There are many digital payment platforms operating in the country, as the Central Bank of Iraq has issued 17 licenses of this type so far[3]. FinTech companies are collaborating with telecommunications service providers in Iraq to provide consumers with a seamless and secure digital experience to facilitate digital payments.

Visa collaborated with its partners last year to launch a variety of payment products to serve Iraq's underbanked population.

The future seems to be increasingly moving towards cashless solutions, as technology continues to penetrate every aspect of our lives. As the world continues to evolve to keep pace with the digital age, financial education and the implementation of the strictest digital security measures will play a critical role in facilitating the transition to a cashless economy more smoothly.

This transformation promises to increase the efficiency of the financial system and provide comprehensive access to financial services, especially for residents who do not have bank accounts or have accounts but do not use them.

There is no doubt that enhancing financial culture plays an essential role in completing this transformation and ensuring that individuals fully benefit from the benefits of digital financial solutions. To support financial education efforts in the market, we have selected two of our partners to collaborate with in order to provide content that can help build knowledge and help individuals improve their understanding of financial concepts and services.

These partnerships will play a pivotal role in developing a comprehensive digital payments system that enables the Iraqi economy to flourish and develop in the digital age.   Written by Mario Macari, Visa's Levant General Manager   Added 09/17/2023 - https://economy-news.net/content.php?id=36388

The Dollar Exchange Rate Continues To Rise In Iraqi Markets

Economy | 10:51 - 09/17/2023  Baghdad - Mawazine News  The dollar exchange rates continued to rise against the Iraqi dinar in local markets.  The selling price was $100, compared to 157 thousand dinars.

The purchase price was 154 thousand dinars for every 100 dollars.

  https://www.mawazin.net/Details.aspx?jimare=235095

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

https://www.bondladyscorner.com/

Points to Ponder on Riches & Wealth:

There is a burden of care in getting riches; fear in keeping them; temptation in using them; guilt is abusing them; sorrow in losing them; and a burden of account at last to be given concerning them. --
M Henry

The acquisition of wealth is a work of  great labor; its possession a source of continual fear; it loss, of excessive grief. -- From the Latin 

Agur said, "Give me neither poverty nor riches"; and this will ever be the prayer of the wise. Our incomes should be like our shoes: if too small, they will gall and pinch us, but if too large, they will cause us to stumble  and to trip. But wealth, after all, is a relative thing, since he that has little, and wants less, is richer than he that has much, but wants more. True contentment depends not upon what we have; a tub was large enough for Diogenes, but a world was too little for Alexander. -- Colton 

Our wealth is often a snare to ourselves, and always a temptation to others. -- Colton

Men pursue riches under the idea that their possession will set them at ease and above the world.  But the law of association often makes those who begin by loving gold as a servant, finish by becoming its slaves; and independence without wealth is at least as common as wealth without independence. -- Colton

In proportion as nations become more corrupt, more disgrace will attach to poverty and more respect to wealth. -- Colton

The larger the income, the harder it is to live within it. -- Whately

Misery assails riches, as lightning does the highest towers; or as a tree that is heavy laden with fruit breaks its own bough, so do riches destroy the virtue of their possessor. -- Burton

To have what we want is riches, but to be able to do without is power. -- G. Macdonald

There are two things needed in these days; first, for rich men to find out how poor men live; and second, for poor men to know how rich men work. -- E. Atkinson

He is richest who is content with the least, for content is the wealth of nature. -- Socrates

If a rich man is proud of his wealth, he should not be praised until it is known how he employs it. -- Socrates

No man can tell whether he is rich or poor by turning to his ledger.  It is the heart that makes a man rich. He is rich according to what he is, not according to what he has. -- H W Beecher

The use we make of our fortune determines as to its sufficiency.  A little is enough if used wisely, and too much if expended foolishly. -- Boovee

Worldly riches are like nuts; many clothes are torn in getting them, many a tooth broken in cracking them, but never a belly filled with eating them. -- Venning

Riches do not delight us so much with their possession, as torment us with their loss. -- Gregory 

"Tidbits From TNT" Sunday 9-17-2023

 TNT:

CandyKisses:  Internet shutdowns will resume in Baghdad and the provinces Sunday. The reason?

{Local: Al-Furat News} Internet service will stop in the capital Baghdad and the provinces from 4 am to 7 am  Sunday.

Internet service will be cut off during the second round exams for sixth preparatory students, starting tomorrow, Sunday.

The Ministry of Education / Standing Committee for Examinations announced on Sunday, 17/9/2023, the date for the start of the general exams / second round for the sixth preparatory grade for all branches (biological, applied and literary).

CandyKisses:  The Council of Ministers holds its regular session under the chairmanship of Al-Sudani

Baghdad Today – Baghdad

Today, Sunday (September 17, 2023), the Council of Ministers held its regular session under the chairmanship of the Speaker of the Council, Mohamed Shia Al-Sudani. 

The media office of Al-Sudani's office said in a statement received by "Baghdad Al-Youm," that "the Council of Ministers held its regular session headed by the Prime Minister, Muhammad Shia' Al-Sudani."

It is noteworthy that the Cabinet session was held today, Sunday, instead of Tuesday, due to the Prime Minister's travel to America to attend the meetings of the United Nations General Assembly

Shybaby:  WOW.... So what last minute relevant and timely APPROVALS have been made... to warrant this particular "dramatics" of holding it Sunday as oppose to the regular Tuesday schedule?

************

Tishwash:  Baghdad is rushing to fix the Kurdistan salaries and currency smuggling crisis before the Sudanese-Biden meeting

The countdown has begun for the expected meeting between Prime Minister Muhammad al-Sudani and American Joe Biden, while the event may coincide with two demonstrations in Baghdad, one of which is by supporters of the Sadrist movement.

Several files control the meeting between Al-Sudani and Biden on the sidelines of the United Nations meeting, including Kurdistan salaries and dollar smuggling.

The expected meeting had its level reduced from "extensive" to "marginal" due to objections from wings within the coordination framework and the relationship with Tehran.

The day before yesterday, Deputy Prime Minister and Foreign Minister Fouad Hussein arrived in New York to participate in the meetings of the United Nations General Assembly, while Al-Sudani will join him soon.

Foreign Ministry spokesman Ahmed Al-Sahhaf said in a statement following the announcement of the Foreign Minister’s arrival in New York, “The Iraqi delegation will be headed by Prime Minister Muhammad Shiaa Al-Sudani, and the delegation will meet with many world leaders.”

He continued, "The minister will also hold many political events and a large number of meetings with his foreign minister counterparts." Iraqi sources close to Washington who had sought to arrange the meeting fear the impact of the issues that were recently raised on the upcoming meeting.

These sources say, "Baghdad is now trying to find solutions to the crisis with Kurdistan regarding the issue of salaries because keeping it suspended is not in the interest of the meeting with the American President."

The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, who visited Baghdad last week, announced that his government had submitted two proposals to the federal government regarding solving the problem of securing financial benefits for the region’s employees.

Barzani said in a press conference after the end of his talks from Baghdad: “We, as the delegation of the Kurdistan Regional Government, came to Baghdad to defend the constitutional rights of the people of Kurdistan and to reach several solutions to the current problems with the federal government.”

The head of the regional government continued, "With regard to the long-term proposal, we need to legislate and amend some laws."

Regarding the short-term proposal, Barzani confirmed that he presented the proposal to officials in Baghdad: “We are awaiting the Council of Ministers session on Sunday (today) to transfer these measures to the executive side.”

Prime Minister Muhammad al-Sudani previously confirmed, during his meeting with Barzani last Thursday, that the government is serious about finding radical solutions to deal with the Kurdistan region.

The Prime Minister's Media Office stated that "the current government's approach is based on the principle of working towards establishing permanent stability away from disputes," stressing "the government's seriousness in finding radical solutions to deal with the Kurdistan region."

He pointed out that "the government has worked, and is still working, to ensure that the requirements for a decent living for Iraqi citizens, including the citizens of the region, are not affected by any legal or administrative problems." The United States had called on the federal government and the Kurdistan government to engage in dialogue to resolve their differences regarding the financial budget in a manner consistent with “the interest of the people.”

US State Department spokesman Matthew Miller said in a press statement, "We continue to call on Erbil and Baghdad to resolve their problems regarding the budget in a manner consistent with the interest of the Iraqis."

In the second file, which may hinder the Sudanese-Biden meeting, sources say that the problem of dollar smuggling is still ongoing, and Tehran is threatening Baghdad because of the issue of the opposition parties. US Assistant Secretary of the Treasury, Elizabeth Rosenberg, met with Al-Sudani a few days ago, but an economics professor warned that the visit indicated sanctions on Iraqi banks.

Sanctions were imposed on 14 Iraqi banks last July, before Baghdad and Washington announced that they would address the situation of those banks that were accused of currency smuggling. Professor of economics at Al-Maqal University in Basra, Nabil Al-Marsoumi, says: “It seems that the visit of US Assistant Secretary of the Treasury Elizabeth Rosenberg to Baghdad did not It was not linked only to assisting the Central Bank of Iraq in its efforts to stabilize the exchange rate, but rather to threatening additional sanctions on the Iraqi banking system in the event that dollar smuggling operations continue.”

Al-Marsoumi spoke in a blog post on social media about the Central Bank’s recent reforms to adhere to the digital platform: “But the gap between the official and parallel dollar prices has begun to widen, reaching 20%, which is much greater than the recognized global levels, which amount to only about 2%.” The gap is linked, according to the economics professor, to two important reasons. The first is the prevention of financial transfers through banking channels to countries sanctioned by the United States, especially Iran, which led to financing trade with it by purchasing dollars from the parallel market and then smuggling it to Iran.

The second is the large demand from Iraqi travelers to Iran for dollars from the parallel market because the instructions of the Central Bank do not allow them to buy dollars at the official price, which is a large demand because Iraqi travelers to Iran constitute 55% of the total foreign tourists in Iran, and Iraqis spent about 3,410 dollars in 2022 in Iran. Billion dollar. Al-Sudani said in a statement from his office after meeting with the US Treasury Assistant Secretary that banking reforms: “have contributed significantly to reducing money laundering operations, as well as addressing suspicious trade and reducing corruption.” He stated, "The government has made great strides in implementing its reforms in financial institutions, in the public and private sectors." On the other hand, the statement quoted Rosenberg as saying that she praised "the great steps taken by the government in the field of financial and banking reform."

Demonstrations in front of the government headquarters

Meanwhile, information is leaking about the possibility of supporters of Muqtada al-Sadr, the leader of the Sadrist movement, holding demonstrations due to the sentencing of 18 officers to imprisonment for attacking the Swedish embassy in Baghdad.

Al-Sadr's supporters set fire to the embassy last July, after an Iraqi in Sweden burned a copy of the Qur'an.

Al-Sadr, who has been out of politics for more than a year, criticized the government after meeting with the families of embassy officers who were sentenced to imprisonment and expulsion from service.

Al-Sadr said in the text of his response to the complaint of the officers’ families: “It is not surprising that that (Abbasid) government issued that punishment, as they have no companionship from the Qur’an, nor companionship from the faith, and they only have chairs, dinner, and money.”

The judiciary issued rulings that included imprisonment for a period ranging between two and three years for the convicted officers, in addition to expulsion from service against officers of the embassy protection, anti-terrorism, and law enforcement forces. The ranks of the convicted officers range from a major general, 3 brigadier generals, 5 colonels, and 3 lieutenant colonels, in addition to two with the rank of captain.

In addition, a group calling itself the "Iraqi People's Demonstrators" broadcast a statement in which it called for what it called a major "demonstration" in Baghdad, heading to the Green Zone.

The statement said: “During a whole year, we listened a lot to the promises of the framework government, and their talk about an integrated program to address the crises that the country is going through, but none of that happened.”

The group's statement criticized the continued rise in the price of the dollar, the drying up of rivers, the shrinking rations, and the lack of attention to poor families. The statement also touched on what it described as a “violation of sovereignty” by Iran, Turkey, Kuwait, and the United States.

The group called on the Iraqis: "to participate in the next major demonstration, which will start from the heart of Baghdad towards the headquarters of the current government."

The statement indicated that the gathering will take place on Wednesday, September 20, in Nisour Square at 9 am. link

Mot: .... soooo That explains the Laughter!!!

Mot:  --siiigghhhhh How does He survive!!??