"Tidbits From TNT" Monday 9-25-2023

TNT:

Tishwash:  Watch for future meetings with America to arrange the withdrawal of its forces from Iraq

Security expert Fadel Abu Ragheef confirmed on Monday that the joint Iraqi-American committee will soon hold its meetings in order to arrange the withdrawal of the American army from Iraq. 

Abu Ragheef said in a statement to Al-Maalouma, “Prime Minister Muhammad Shiaa Al-Sudani, during his visit to the United States of America to participate in the annual session of the United Nations, was keen to make the file of ending the presence of international coalition forces a priority in his files.” 

He added, "An agreement was reached between the government side and the American side to form a joint committee to reschedule and organize the presence of advisors," noting that "the committee will hold its meetings in the coming days to arrange the withdrawal."

Abu Ragheef explained, “The Sudanese stressed the necessity of reorganizing the presence of the international coalition and demanding that Iraq be provided with modern weapons and equipment and that members of the security forces undergo courses to raise the efficiency of the combat level, as well as providing Iraq with security information to activate the intelligence aspect.” 

 The Prime Minister announced several days ago that his government had received a draft of a memorandum of understanding from the US Department of Defense, indicating that the draft is currently under study by the Iraqi Ministry of Defense related to the form of the relationship between Iraq and the international coalition.    link

Tishwash:  Al-Sudani: Electronic payment is one of the most important financial reform measures of the government

Today, Sunday, Prime Minister Muhammad Shiaa Al-Sudani chaired a special meeting to follow up on the implementation of the unified treasury account and electronic payment.

The Prime Minister’s Media Office stated in a statement, a copy of which was received by NRT Arabic, that “Prime Minister Muhammad Shiaa Al-Sudani chaired today a meeting devoted to discussing and following up on the steps for implementing the unified treasury account, and completing the application of electronic card/POS payment points, as well as discussing the facilities and incentives that It can be provided to citizens who use electronic payment, with the aim of encouraging them to do so.”

He explained, "The Prime Minister listened to a comprehensive presentation on the measures taken in this path, the rates of progress and requirements, as he stressed the necessity of continuing to hold meetings with technicians and specialists to remove the sanctions."

He pointed out during the meeting that, “These steps are among the most important financial, banking and economic reform measures, which the government is focusing on as a priority in its program.”  ink 

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Tishwash:  Iraqi Central Bank to Restrict Internal Trade to Iraqi Dinar (Bloomberg)

Iraq’s central bank will restrict all internal commercial transactions to the Iraqi dinar starting next year, the bank said in a statement, citing governor Ali Al-Allaq.

The step appears aimed at curbing the dealing of the US dollar outside Iraq’s banking sector, as well as limiting smuggling it abroad. It’s also a move to back the local currency.

The central bank next year will end the job of transferring money for foreign trade and instead focus on “supervision and monitoring,” with the job of transfers shifted to licensed Iraqi banks

Currently, the central bank is the process of opening transfer channels in various currencies, including the Emirati dirham, the Turkish lira, the Indian rupee and the euro, according to the statement.

On Sunday, the dollar was available on the unofficial market at about 1,550 dinars, 17% weaker than the official rate of 1,320.  link

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Tishwash:  Iraq: Land of opportunities and future jobs

The most in-demand jobs in Iraq are affected by economic and social conditions, and may change over time. However, here is a list of some jobs that are usually in demand in Iraq:

Construction and Civil Engineering: Many construction projects are taking place in Iraq including infrastructure, residential, commercial and industrial buildings, which increases the need for civil engineers and construction workers.

Health and Medicine: There is a constant need for doctors, nurses, and health technicians to provide health care to citizens.

Education: The educational sector needs teachers and professors to teach students in schools and universities.

Petra and Gas: The oil and gas sector is a major source of revenue in Iraq, making there a constant need for engineers, technicians and workers in this sector.

Technology and IT: Reliance on technology and communications has increased in Iraq, which increases the need for IT professionals, software engineers, and information security specialists.

Marketing and Sales: Companies and institutions need sales and marketing personnel to market their products and services.

Industry and Production: This includes functions such as production, manufacturing, quality, and equipment maintenance.

Financial Services: Professionals in finance, accounting, and banking are needed to manage financial matters.

Agriculture and food conversion: Agriculture plays an important role in the Iraqi economy, and there is a need for agricultural workers and food conversion specialists.

Sales and Marketing: Sales and marketing staff have an important role in promoting products and increasing sales.   link

Mot:  .... Dang!!! --- Just Saying ~~~~~~

Mot: .. dang!!! -- Almost Worked!!!! 

Iraq Economic News and Points to Ponder Monday AM 9-25-23

Iraq Economic News and Points to Ponder Monday AM 9-22-23

Baghdad And Washington Are Negotiating About Linking The Iraqi Market And Currency To The Dollar

Posted On2023-09-25 By Sotaliraq    Baghdad and Washington are negotiating about linking the Iraqi market and currency to the dollar 20230924152721_original_45The Iraqi Foreign Minister, Dr. Fouad Hussein, confirmed that the provisions of the security agreement recently signed between Iraq and Iran have been fully implemented by the Iraqi side.

Hussein explained that the terms of the agreement were fully implemented by the Iraqi side, with regard to the return of militants present on the border between the two countries in the Kurdistan Region to refugee camps.

Regarding the political and security importance of this agreement, Hussein stressed that Iran’s cessation of bombing areas in the Kurdistan Region was a condition of the agreement, in exchange for removing militants from the border, which the federal government did in cooperation with the Kurdistan Regional Government, in an “important and successful” process for both sides. .

Regarding the possibility of signing a similar agreement with Turkey regarding the presence of Kurdistan Workers’ Party (PKK) militants, whom Ankara demands to be removed from the border, Hussein stated that Baghdad has always been in favor of dialogue, hoping for “intensive dialogue by the same means” with the Turkish side.

The Iraqi diplomat says that Ankara has not yet made room to discuss solutions to this problem in another way, far from the use of weapons and violence.

The Iraqi minister denied the existence of any agreement with Turkey to allow it to carry out repeated strikes on PKK militants in northern Iraq.

Regarding relations with the United States, Hussein said that the recent Iraqi-American discussions focused on bilateral relations and joint work in the fields of economy, energy, health and security, noting that the American-Iraqi relations are distinguished and have expanded to include various fields, after they were based on security and military cooperation, pointing out that Washington's support for the Iraqi position in the international arena, and for economic reform and development in the country.

The Iraqi official revealed that among the important files raised at the level of dialogue with Washington is “the issue of linking the Iraqi market and currency to the dollar and the flows of American currency into the country,” noting that it is “a financial and banking issue related to the financial and economic situation of Iraq.”

Regarding whether security issues related to armed groups affiliated with Iran were among the files discussed, he said, “We did not discuss this issue, and all groups are subject to the Commander-in-Chief of the Armed Forces, that is, to the orders of the Iraqi Prime Minister.”

 Regarding the relations between Saudi Arabia and Iran, the spokesman indicated that the two countries have declared and strong relations, after the exchange of ambassadors and visits by the two foreign ministers, indicating that Baghdad played a role in the restoration of their relations, but the discussions between them are now direct.

Regarding relations with Kuwait, the spokesman explained that the Iraqi Prime Minister held an “important meeting” with his Kuwaiti counterpart, during which he stressed “Iraq’s full commitment to all Security Council resolutions, bilateral agreements, and respect for Kuwait’s sovereignty.” LINK

Dollar Exchange Rates During Monday's Transactions In Iraqi Markets

Economy   09-25-2023 | 6,121 views   Alsumaria News – Economy  Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in Iraqi local markets for Monday, September 25, 2023.

Exchange rates decreased in banking shops in local markets in Baghdad, as the selling price reached 154,500 Iraqi dinars, while the purchasing price reached 154,000 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

The Salary Crisis Raises Rates Of Domestic Violence In Kurdistan By 13 Percent

Posted On2023-09-25 By Sotaliraq   The researcher in social and academic affairs at Sulaymaniyah University, Rikut Abdul Rahman, said yesterday, Sunday, that the economic crisis has greatly affected the situation in the region. The Federal Council of Ministers decided during its thirty-eighth regular session, headed by Muhammad Shiaa Al-Sudani, on Sunday (September 17, 2023),

Lending the Kurdistan Regional Government more than two trillion dinars, provided that it is repaid in three installments of (700) billion dinars before taking its entitlement from the budget for the year 2024. Abdul Rahman says, “The economic crisis affected the cohesion of Kurdish society, led to an increase in divorce cases and increased rates of domestic violence.”

He believes that “due to the delay in disbursing salaries and the economic crisis, divorce cases have increased by 13% over previous years, and the rates of domestic violence have increased according to the statistics of various organizations, in addition to the presence of a reluctance to marry among Kurdish youth, since the requirements of life are high, and there is no financial liquidity.” Because of the salary crisis.”

The delay in salaries in the Kurdistan region and the strike of health personnel there caused the death of two people yesterday, Saturday (September 23, 2023), including a child no more than two months old. According to a local source, “A person named (K, M, A), whose profession is a worker, lives in the Shahrazur district of the Sulaymaniyah Governorate. He was involved in a traffic accident on the Sulaymaniyah-Zaryan road, and after suffering serious injuries, he was transferred to (Martyr Raouf Bek) Hospital in the Shahrazur district.”

He added: “But due to the strike of doctors and nurses from working hours in the aforementioned hospital, he was transported by a regular car to Shar Hospital in Sulaymaniyah, but he died on the way.”

He pointed out that “also due to the strike of health personnel from work in Sayed Sadiq district, a two-month-old child died.”

On Wednesday (September 20, 2023), the Prime Minister of the Kurdistan Region, Masrour Barzani, directed the distribution of July salaries without delay upon the arrival of the first batch of Baghdad’s loan amounting to 700 billion dinars.

On Monday (September 18, 2023), a source in the Ministry of Finance of the Kurdistan Regional Government revealed the mechanism for distributing employee salaries in the region.

The source said, “The federal government will finance the salaries of employees in the Kurdistan region in three installments in the amount of two trillion and 100 billion dinars, and in the amount of 700 billion dinars for each month.”

He added, "The federal government will send the salaries for September after releasing the salaries of employees in other Iraqi provinces, but employees in the region have not received their salaries for July and August yet."

The source indicated, “After receiving the amount of 700 billion dinars, the Ministry of Finance will distribute one salary, which is for the month of July, and next month it will distribute the salary for the month of August, and then the process will continue successively.” LINK

Despite The Abundance Of Cash Reserves, Why Does The Iraqi Government Not Pay Its Internal Debts?

Posted On2023-09-25 By Sotaliraq   [size=45]Iraq has huge cash reserves from oil revenues exceeding 113 billion dollars, at a time when it suffers from internal debts estimated at 70 trillion, which raises many questions about the reasons for the government not paying these debts, getting rid of the interest burdens owed on them, and investing the money to provide new resources.

Last July, Deputy Governor of the Central Bank of Iraq, Ammar Khalaf, announced that foreign exchange reserves had risen to 113 billion dollars, benefiting from the improvement in the price of oil, which constitutes 96% of the total national product, while he confirmed that the volume of internal debt had increased to 70 trillion Iraqi dinars (about 47 trillion Iraqi dinars). Billion dollar).

For his part, the Governor of the Central Bank of Iraq, Ali Al-Alaq, revealed last August that the government owes an amount of 46 trillion Iraqi dinars ($34.6 billion), as debts owed to the Central Bank.

As oil revenues rise and fall according to market prices, current government spending includes $47.6 billion annually in salaries for about 12 million employees, while defense, security, and service spending consumes about $60 billion, out of a total revenue of about $120 billion annually.

In this context, economic academic Ali Daadoush explains, “The public debt is divided into two external parts amounting to approximately 13 billion dollars until the beginning of 2023, and these are paid on an ongoing basis and deducted from the oil revenues achieved as a result of the rise in oil prices above the price of a barrel of oil specified in the general budget.”

Daadoush added in a press statement followed by Al Mada: “In addition to the presence of an external debt amounting to $5.8 billion, pre-2003 debt, and unaddressed debts outside the Paris Club amounting to about $40 billion, which have not been claimed by the Gulf states.”

He continued, saying, “As for the internal debt, it has reached about 70 trillion dinars, of which 50 trillion are for the benefit of the Central Bank of Iraq, and these are rescheduled from time to time, with an interest determined by the government.”

He believes that “the government’s hesitation not to pay the internal debt is a result of its many obligations towards investment and service projects within the government curriculum, especially since the size of the planned deficit in the general budget for the year 2023 amounted to about 64 trillion dinars, and this also prevents the government from paying the internal debt, which portends the existence of “Financial and economic problems facing the current government in the near future.”

He pointed out that “an opportunity was available to pay off the internal debt before the Corona crisis, specifically during the period (2017-2019), during the achievement of financial abundance, but it was not paid as a result of the lack of a clear-cut plan, in addition to the failure of private banks and some parties that financed the internal debt to demand their debts.” Because it has high liquidity through which it can confront banking risks, if any.”

Daadoush concluded by saying, “In general, the external debt is paid with continuous debt service, while the internal debt is paid only from time to time in very small amounts.”

The economic and financial expert, Mahmoud Dagher, agrees with what Ali Daadoush said regarding the continuation of external debt payments and the size of internal and outstanding debts, stressing that “there is nothing preventing the payment of internal debt, most of which is to the Central Bank.”

In turn, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, says, “The issue of Iraq’s debts for its loans granted to other countries that were previously provided by the Iraqi Fund for External Development between the mid-seventies of the last century and the beginning of the eighties is raised from time to time, which stopped following the outbreak of the Iran-Iraq war.”

Saleh explains, “Most of these loans were granted to developing countries in Africa, Asia, and Latin America, and claims are still outstanding on the remains of those loans that have not been repaid and are pending repayment and are estimated at less than two billion dollars.” He adds, “It is believed that part of it has been subject to those countries’ agreements with the Paris Club, as they are sovereign debts and belong to groups of poor countries. Despite this, efforts are being made to restore the country’s rights through diplomatic means and methods.”

Nabil Al-Marsoumi, professor of economics at Basra University, said in a blog post that “the public debt in Iraq at the end of 2022 amounted to 94.94 trillion dinars ($63.3 billion), of which 70.5 trillion dinars ($47 billion) were internal debts.”

The internal and external (debt service) (installment + interest) in the current year’s budget amounts to 18.96 trillion dinars ($12.6 billion) annually.”

Al-Marsoumi adds, “Perhaps the most dangerous thing about the budget is that it is tripartite and not annual, which means continuing disbursement in the next year and not On the basis of 1/12 of actual spending, but rather on the basis of what was allocated in the budget in the previous year, and this may lead to the government having a free hand in internal and external borrowing, especially with the disappearance of the cash surplus that will be used in this year’s budget, in addition to the fact that it is possible that it will continue.

The budget is in its current form without amendment in the next two years and without Parliament having the legal powers to reject or amend it, which will drown the country in a sea of ​​debt.”

Al-Marsoumi continues, “The legislation of the tripartite budget will give the government full legal powers to borrow 41.5 trillion dinars not in 2023, but also in 2024 and 2025, which means that the government can borrow internally and externally without referring to Parliament, an amount of 121.5 trillion dinars during the tripartite budget and for the years.” “The three 2023, 2024 and 2025.”[/size]

It is noteworthy that the World Bank described the Iraqi economy as “fragile,” and stated that the country’s debts had increased to about 152 billion dollars.

He said in a report issued last August, “The annual budget approved by the government authorities witnesses a significant increase in the volume of public expenditures by 59% over the previous year, which represents 74.3% of total spending, which will lead to a large financial deficit of 51.6 trillion dinars.”

“Iraqi - equivalent to 39.7 billion dollars - which represents 14.3% of the volume of general imports, that is, more than half of the recent record reserves that were accumulated in the wake of the boom in oil prices.”

According to the World Bank, “Iraq’s lack of diversification of sources of income due to the chaotic policies of successive governments led to a contraction of the gross domestic product by 1.1% in 2023 and an increase in the country’s public debt to reach 58.3% after it was 53.8% in the previous year, meaning it will reach 152 billion dollars.” ,

 an increase of 10 billion dollars, while the total external debt reached 50 billion dollars, and the internal debts amounted to 102 billion dollars, which means that the government authorities borrowed in the previous three years internally about 60 billion dollars, at a rate of 15 billion annually, with annual interest on internal debts amounting to 16 to 17 % of the amount of debt.

According to the bank, “Iraq’s economic future prospects are still exposed to great risks. “Because of excessive dependence on oil, which makes it vulnerable to shocks in oil markets and global demand, as evidenced by the recent decline in oil prices, in addition to the factors driving fragility that pose fundamental challenges to the economy, such as widespread corruption, poor service provision, infrastructure development, and security risks.”

The World Bank added, “The governmental authorities’ continuation of following these policies will make the country’s budget in favor of the political parties that have delayed the wheel of development and caused it to suffer from major imbalances despite the passage of two decades since the war was claimed to have ended.    LINK

Points to Ponder on Disappointment:

Disappointment -- too many people miss the silver lining because they are expecting gold -- Maurice Seltter

Fortunes made in no time are like shirts made in no time; its ten to one if they hang long together -- Douglas Jerrold

Disappointment to a noble soul is what cold water is to burning metal; it strengthens, tempers, intensifies, but never destroys it -- Eliza Tabor

MilitiaMan: Truth - Iraq Dinar - Exchange Rate -

Truth - Iraq Dinar - Exchange Rate -

MilitiaMan and Ccrew:  9-24-2023

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=CvWXfukrGgY

Some CBI and Iraq News Posted by Clare at KTFA 9-24-2023

KTFA:

Clare:  Al-Sudani: Implementing the unified treasury account and electronic payment are among the most important financial and banking reform measures

9/24/2023

 Today, Sunday, Prime Minister Muhammad Shiaa Al-Sudani chaired a meeting devoted to discussing and following up on the steps for implementing the unified treasury account, and completing the application of electronic card/POS payment points, as well as discussing the facilities and incentives that can be provided to citizens who use electronic payment. In order to encourage them to do so.

Al-Sudani listened to a comprehensive presentation on the measures taken in this path, the rates of progress and requirements, as he stressed the necessity of continuing to hold meetings with technicians and specialists to remove obstacles.

He pointed out that these steps are among the most important financial, banking and economic reform measures, which the government focuses on as a priority in its program.    LINK

Clare:  Central Bank of Iraq: Important transformations in external transfer mechanisms

September 24, 2023

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, announced that the bank will proceed to dispense with external transfers “next year” and that banks licensed in Iraq will rely on correspondent banks in external transfer operations, as transfers through correspondent banks reached 60% of the total transfers ( outside the Central Bank’s electronic platform), while the implementation rate of verified transfers reached more than 95%.

This came after an agreement between the Central Bank of Iraq and the US Federal Bank, similar to countries around the world, where central banks do not perform executive duties, and their role is focused on supervision and control.

pic

His Excellency confirmed, during the meeting with the heads of the boards and authorized directors of the banks licensed in Iraq, that the Central Bank’s endeavor to open direct channels of communication for Iraqi banks with their foreign counterparts in correspondence, commercial exchange, etc. came in intensive stages, while what is currently underway is opening transfer channels in various currencies, including ( UAE Dirham, Turkish Lira, Indian Rupee, Euro).

His Excellency stressed that the coming year will witness the restriction of all internal commercial and other transactions to the Iraqi dinar instead of the dollar, except for those delivered to travelers.

He pointed out that the entry of most merchants into the official transfer channels and the provision of the dollar at a price of (1320) dinars was a direct reason for controlling the general level of prices and lowering the inflation rate, which is a basic indicator of the effectiveness of monetary policy, and that the black market price is not suitable as an “indicator” because it It relates to cash dollars for non-fundamental transactions, and is not intended for legitimate trade purposes.

Al-Alaq pointed out that the new system of external transfer and sale of the dollar provides protection from risks for all parties of operations, enjoys international acceptance and praise, is consistent with the law on combating money laundering and terrorist financing, and achieves an important initiative for direct relations between Iraqi banks and accredited international banks.

The meeting reviewed the mechanism for establishing “Riyadah Bank” and the societal importance that the bank will have, especially since it is consistent with the directives and vision of the honorable Prime Minister. Discussions were raised on this topic, including the banks’ contributions to establishing “Riyadah” and the working mechanisms of this bank, which will be effective for those wishing to open projects.

Productive and small businesses that contribute to developing the local economy and reducing the unemployment rate with direct support from the Central Bank.

Central Bank of Iraq 
Information Office 
September 24, 2023

https://cbi.iq/news/view/242

Clare:  The American Embassy concerns Shafaq News with the results of the Baghdad and Washington discussions about the dollar and currency smuggling

9/24/2023

On Sunday, the American Embassy in Iraq revealed the details of the discussions of the government of Muhammad Shiaa al-Sudani, and the Central Bank, with senior officials of the US Treasury Department, in Baghdad and New York, related to foreign transfers of dollars, and efforts to prevent currency smuggling and its access to the hands of corrupt figures.

US Embassy spokeswoman, Danielle Korshak, told Shafaq News Agency, "The United States and Iraq enjoy a strong working partnership, and the relationship between the Treasury and Iraq is important."

“For many years, the two sides have worked to improve transparency in financial transactions, prevent criminal and corrupt actors from accessing the international banking system and smuggle their illegal funds, and make Iraqi banks compliant with international standards,” Korczak added.

She continued: "Iraq has made significant progress since then in effectively implementing due diligence requirements. One positive example is the work done regarding international transfer requests, as the Central Bank of Iraq ensures that banks act transparently and in accordance with international practices."

The embassy spokeswoman noted, "These joint efforts provided new opportunities and a path toward increasing connectivity between Iraqi banks and the international financial system and protecting the resources of the Iraqi people."

The US Treasury Under Secretary for Terrorist Financing and Financial Crimes, Elizabeth Rosenberg, visited Baghdad from September 12 to 13, and met with Iraqi Prime Minister Muhammad Shia al-Sudani and officials at the Central Bank of Iraq, the Trade Bank of Iraq, and the Iraqi Financial Investigation Unit, in addition to To representatives of the Iraqi private banking sector.

Regarding this visit, Korshak noted, “The two sides agreed that they are well aware of the opportunities and challenges ahead to continue improving the Iraqi financial sector, and they agreed to continue working together and take positive steps towards meaningful and lasting reforms that will raise Iraq to international standards and work to prevent fraud and evasion of sanctions.” financing terrorism and illegal activities.”

The American spokeswoman revealed that Al-Sudani met with the US Assistant Secretary of the Treasury for Terrorism and Financial Intelligence, Brian Nelson, on the sidelines of the United Nations General Assembly meetings in New York, on September 18, to discuss the continued progress towards strengthening the Iraqi financial sector.

Korshak concluded by saying, “The US Treasury continues to work closely with the Government of Iraq as it seeks to implement meaningful reforms to strengthen the Iraqi financial sector, against fraud, sanctions evasion, terrorist financing, and other illicit activities.”   LINK

Iraq Economic News and Points to Ponder Sunday Afternoon 9-24-23

Iraq Economic News and Points to Ponder Sunday Afternoon 9-24-23

Tlm724 Administrator Bondlady’s Corner

Al-Alaq Announces That Internal Commercial Transactions Will Be Limited To The Iraqi Dinar In 2024

Time: 09/24/2023 17:49:17 Read: 2,106 times   {Economic: Al-Furat News} The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, announced today, Sunday, that the bank will proceed to dispense with external transfers “next year” and that banks licensed in Iraq will rely on correspondent banks in external transfer operations.   Al-Alaq said, according to a statement from his office, a copy of which {Al-Furat News} received: “Remittances via correspondent banks reached 60% of the total transfers (outside the electronic platform of the Central Bank), while the implementation rate of verified transfers reached more than 95%.”

“This came after an agreement between the Central Bank of Iraq and the US Federal Bank, similar to countries around the world, where central banks do not perform executive duties, and their role is focused on supervision and control.”

Al-Alaq confirmed, during the meeting with the heads of the boards and authorized directors of the banks licensed in Iraq, that “the Central Bank’s endeavor to open direct channels of communication for Iraqi banks with their foreign counterparts in correspondence, commercial exchange, etc. came in intensive stages, while what is currently being done is opening transfer channels in various currencies, including (UAE Dirham, Turkish Lira, Indian Rupee, Euro).”

He stressed that "the coming year will witness the restriction of all internal commercial and other transactions to the Iraqi dinar instead of the dollar, except for those delivered to travelers," noting that "the entry of most merchants into official transfer channels and the provision of the dollar at a price of (1,320) dinars was a direct reason for the control.’

" At the general level of prices and the low rate of inflation, which is a basic indicator of the effectiveness of monetary policy, and that the black market price is not suitable as an “indicator” as it relates to the cash dollar for non-fundamental operations, and is not designated for the purposes of legitimate trade.”

Al-Alaq pointed out that “the new system of external transfer and sale of the dollar provides protection from risks for all parties of operations, and enjoys international acceptance and praise and is consistent with the law on combating money laundering and terrorist financing, and achieves an important gesture for direct relations between Iraqi banks and accredited international banks.”

The statement continued, “The meeting reviewed the mechanism for establishing “Riyadah Bank” and the societal importance that the bank will be based on, especially since it is consistent with the directives and vision of the Prime Minister. Discussions were raised on this topic, including the banks’ contributions to establishing “Riyadah” and the work mechanisms of this bank, which will be A window for those wishing to open small production and commercial projects that contribute to developing the local economy and reducing the unemployment rate with direct support from the Central Bank.”  LINK

Next Year... Al-Alaq Threatens Again: All Commercial Transactions Will Be Limited To The Dinar

Iraq  Sunday, September 24, 2023 5:57 PM   Baghdad/National News Center  The Central Bank confirmed today, Sunday, that providing the dollar at a price of 1,320 dinars was a reason for controlling the general level of prices.

A statement from the bank received by the National News Center stated that “its governor, Ali Mohsen Al-Alaq, announces that the bank will proceed to dispense with external transfers “next year” and that banks licensed in Iraq will rely on correspondent banks in external transfer operations, as transfers via correspondent banks have reached 60%. Of the total transfers (outside the Central Bank’s electronic platform), while the implementation rate of verified transfers reached more than 95%.

He continued, "This came after an agreement between the Central Bank of Iraq and the US Federal Bank, similar to countries around the world, where central banks do not perform executive duties, and their role is focused on supervision and control."

During the meeting with the heads of the boards and authorized directors of banks licensed in Iraq, Al-Alaq confirmed that “the Central Bank’s endeavor to open direct channels of communication for Iraqi banks with their foreign counterparts in correspondence, commercial exchange, etc., came in intensive stages, while what is currently underway is opening transfer channels in various currencies, including (UAE Dirham, Turkish Lira, Indian Rupee, Euro).”

He continued, "The coming year will witness the restriction of all internal commercial and other transactions to the Iraqi dinar instead of the dollar, except for those delivered to travelers."

Al-Alaq pointed out that “the entry of most merchants into the official transfer channels and the provision of the dollar at a price of (1320) dinars was a direct reason for controlling the general level of prices and lowering the inflation rate, which is a basic indicator of the effectiveness of monetary policy, and that the black market price is not suitable as.” The indicator “because it relates to the cash dollar for non-fundamental transactions, and is not intended for the purposes of legitimate trade.”

Al-Alaq pointed out that “the new system of external transfer and sale of the dollar provides protection from risks for all parties of operations, enjoys international acceptance and praise, is consistent with the law on combating money laundering and the financing of terrorism, and achieves an important initiative for direct relations between Iraqi banks and accredited international banks.”

The Central Bank statement continued, “The meeting reviewed the mechanism for establishing “Riyada Bank” and the societal importance that the bank will be based on, especially since it is consistent with the directives and vision of the Prime Minister.

Discussions were raised on this topic, including the banks’ contributions to establishing “Riyada” and the work mechanisms of this bank, which will be A window for those wishing to open small production and commercial projects that contribute to developing the local economy and reducing the unemployment rate with direct support from the Central Bank.”    https://nnciraq.com/228377/

A New Decline In The Dollar In Baghdad

Economy  Sunday, September 24, 2023 11:33 AM  Baghdad/National News Center   The exchange rates of the dollar fell against the dinar, today, Sunday, on the central stock exchange and local markets in the capital, Baghdad.   Dollar prices fell, with the opening of the Kifah and Harithiya central stock exchanges, to record 154,100 dinars against 100 dollars.  

Selling prices in banking shops in local markets in Baghdad reached 155,000 dinars, and purchasing prices reached 154,000 dinars, for every 100 dollars.   https://nnciraq.com/228298/

The Iraqi Central Bank Deposited 250 Billion Dinars In The Bank Account Of The Kurdistan Region

Political | 12:46 - 09/24/2023  Baghdad - Mawazine News  The Ministry of Finance and Economy in the Kurdistan Region announced, on Sunday, that the Central Bank of Iraq deposited 250 billion dinars in the bank account of the Kurdistan Region.

A statement from the ministry, a copy of which Mawazine News received, stated, “The Central Bank deposited an amount of 250 billion dinars in the bank account of the Ministry of Finance and Economy in the Kurdistan region of Iraq.”

He pointed out that "the deposited amount is part of the process of financing employees' salaries in the region." Ended 29/h   https://www.mawazin.net/Details.aspx?jimare=235439

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

https://www.bondladyscorner.com/

Points to Ponder on Hope:

You cannot hope to build a better world without improving the individuals. To that end, each of us must work for our own improvement and, at the same time, share a general responsibility for all humanity, our particular duty being to aid those to whom we think we can be most useful. -- Marie Curie

To hope means to be ready at every moment for that which is not yet born, and yet not become desperate if there is no birth in our lifetime.  -- Erich Fromm

If we all worked on the assumption that what is accepted as true is really true, there would be little hope of advance.  -- Orville Wright

You believe that easily which you hope for earnestly -- Edward Bulwer-Lytton

In all things it is better to hope than Despair – Goethe

You cannot put a great hope into a small soul -- J L Jones

The future is lighted for us with the radiant colours of hope. Strife and sorrow shall disappear. Peace and love shall reign supreme -- John Fiske

All the Saints of God are there to protect me, to sustain me and to carry me. And your prayers, my dear friends, your indulgence, your love, your faith and your hope accompany me. -- Pope Benedict XVI

People crushed by laws, have no hope but to evade power. If the laws are their enemies, they will be enemies to the law; and those who have must to hope and nothing to lose will always be dangerous. 
Edmund Burke

People who say that life is not worthwhile are really saying that they themselves have no personal goals which are worthwhile. Get yourself a goal worth working for. Better still, get yourself a project. Always have something ahead of you to 'look forward to' - to work for and hope for. -- Maxwell Maltz

 Beware how you take away hope from another human being. -- Oliver Wendell Holmes

Hope arouses, as nothing else can arouse, a passion for the possible. -- William Sloane Coffin Jr

In prosperity prepare for a change; in adversity hope for one. -- James Burgh

For he who has health has hope; and he who has hope, has everything. -- Owen Arthur

Hope is like the sun, which, as we journey toward it, casts the shadow of our burden behind us.-- Samuel Smiles

Hope... is the companion of power, and the mother of success; for who so hopes has within him the gift of miracles.  -- Samuel Smiles

I want to help people with depression understand that there is hope, so that they can get the help they need to live rich, fulfilling lives. -- Tom Bosley

"Tidbits From TNT" Sunday Morning 9-24-2023

TNT:

Tishwash:  Deposit of 250 billion dinars by Rafidain Bank into the account of the Ministry of Finance of the Kurdistan Region

Deposit of 250 billion dinars by Rafidain Bank into the account of the Ministry of Finance of the Kurdistan Region

The Ministry of Finance and Economy of the Kurdistan Regional Government announced, on Sunday, that Rafidain Bank had deposited a financial sum of 250 billion dinars into its account to finance the salaries of employees and workers in the public sector in the region.

The ministry said in a statement today that a short while ago, an amount of 250 billion dinars was deposited through the Rafidain Bank in the bank account of the Ministry of Finance and Economy in the Kurdistan Region in the Erbil branch of the Central Bank of Iraq.  link

CandyKisses:  More than 22 Jordanian companies participate in Baghdad International Fair

Economy News _ Baghdad

The number of Jordanian industrial companies that will participate in the 47th Baghdad International Fair in early November on Sunday reached 25 companies operating in various industrial sectors, according to the latest data on the Jordan Enterprise Development and Export Company "Export House".

Registration for the exhibition, which will be held in early November, is still open to interested companies.

The "Export House" company indicated that the Jordanian participation in the exhibition, which lasts for 10 days, works in various industrial sectors, the most important of which are food, chemical, construction, plastic, in addition to packaging.

The company, which is organizing for the first time the Jordanian participation in the exhibition, explained that the Jordanian pavilion will be built on an area of up to 350 square meters.

The Baghdad International Fair is a government land belonging to the Ministry of Commerce specialized in organizing exhibitions and conferences and holding international events and festivals, and it is held annually on the grounds of the Baghdad International Fair, while specialized exhibitions are organized by private sector companies affiliated with the Baghdad Fair under the auspices and support of the Iraqi Government, and many countries display their products and services.

It is noteworthy that the Jordanian government, represented by the Ministry of Industry, Trade and Supply, registered in 2019, a company under the name of "Jordan Enterprise and Export Development House", "Export House", in partnership with the private sector with a capital of 899 thousand Jordanian dinars, where the share of the private sector's contribution constitutes 51%, while the government's contribution constitutes 49%.

She pointed out the importance of participating in the exhibition to maintain the presence of Jordanian products within the Iraqi market and open new marketing outlets for them, in addition to introducing visitors to the exhibition from the participating countries of the high quality reached by the national industry.

Jordan's national exports to Iraq increased during the first half of this year to record an increase of 7% compared to the same period last year.

National exports to Iraq accounted for 6% of the total national exports during the first half of this year, which amounted to 4.198 billion dinars.

At the level of the Arab trade area, Iraq accounted for 18% of the Kingdom's total exports within the list of the Greater Arab Free Trade Area countries, which amounted to 1.460 billion dinars.

According to data issued by the Jordan Chamber of Industry, Jordan exports to Iraq more than 300 national products, including soap, detergents and fertilizers, electrical wires and conductors, medicines and antibiotics, clothing, and food industries.

In previous statements by its president, Fathi Al-Jaghbeer, the Chamber expected that the volume of trade exchange will exceed the barrier of two billion dollars during the coming period, due to the ownership of the industry

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

Tishwash:  Iran and Iraq are discussing the implementation of agreements signed in the field of communications

Yesterday, Saturday, the Iranian ambassador to Baghdad, Muhammad Kazem Al-Sadiq, praised the achievements of the agreements with Iraq, pointing to an agreement in the field of communications that contributed to reducing the costs of phone calls for Iranian visitors.

Iranian media, followed by Al-Iqtisad News, reported that “the Iranian ambassador to Iraq discussed with the Minister of Communications, Hiyam Al-Yasiri, the mechanisms for implementing the agreements signed between Tehran and Baghdad in the field of communications.”

She added, “In the meeting, the Iranian ambassador touched on the successful reception by the Iraqi government and people of the Arba’een visitors,” noting that “this cooperation, especially by the Iraqi Ministry of Communications, with the Iranian parties in serving the Arba’een visitors is a clear example of commitment to the agreements between the two countries.”

According to Iranian media, Communications Minister Hiyam Al-Yasiri announced Iraq’s readiness to implement the agreements between the authorities of the two countries as soon as possible.

According to the Iranian side, providing communications, Internet and data facilities, as well as reducing the costs of phone calls for Iranian visitors, are among the achievements of the agreements of the two parties in order to better hold the Arbaeen ceremonies.   link

Mot:  . Yippppppie!!! They Just Love the Leaves They Do!!!! 

Mot:  Today is da Day!!! 

Iraq Economic News and Points to Ponder Sunday AM 9-24-23

Iraq Economic News and Points to Ponder Sunday AM 9-24-23

The Dollar Crisis May Break The Framework's Back, And The Coalition Has Stopped Criticizing Washington

Posted On09-24-2023 By Sotaliraq   Baghdad/ Tamim Al-Hassan   October is approaching, the fourth anniversary of the largest protests in the country after 2003, at a time when the coordinating framework that runs the government is facing the nightmare of the dollar exchange rate.[

Instead of the value of the dinar increasing as expected, the currency began to decline, before and after the return of Prime Minister Muhammad al-Sudani from the New York meetings.

The same expectations were made at the time of approving the budget and after its implementation, but the crisis has not ended and the “framework” no longer burdens Washington with the problem as it did in the past.

One dollar has sometimes approached 1,600 dinars or more, since Iraq decided to adhere to American conditions and transfer money through a global platform monitored by Washington.

This commitment has limited impact on the money smuggling trade, most of which is believed to go to Iran, which faces Western sanctions.

Behind the scenes, informed sources inform Al-Mada that parties in the coordination framework have stopped linking the dollar crisis to the United States.

These sources say that there is a fear of expanding sanctions on “banks that are affiliated with Shiite parties, as happened previously.”

14 banks were punished in July and the value of the dinar recorded a historic deterioration, before the Central Bank and Washington announced that the matter had been settled.

At that time, leaks indicated that the banks that were punished were affiliated with political figures and parties, and that the sanctions may not stop.

Fears of “new sanctions” were renewed with a visit by Elizabeth Rosenberg, Assistant Secretary of the US Treasury, to Baghdad before the Sudanese traveled to attend UN meetings.

Experts in the economic field considered that Rosenberg's visit was not to help the Central Bank - as stated in the official story - but rather to threaten new sanctions if smuggling continues.

Before that, Qais Khazali, the leader of Asaib Ahl al-Haq and one of the most prominent leaders of the “Frameworks,” described Washington’s imposition of conditions on the transfer of the dollar in Iraq as an “economic war.”

The Shiite coalition held its breath when the Prime Minister left for New York (the visit ended yesterday), and the dollar issue was at the top of the files.

Instead of expectations of a rise in the dinar, the currency collapsed again after the Sudanese met with US Treasury officials on the sidelines of the United Nations meetings.

Nabil Al-Marsoumi, professor of economics at Al-Maqal University in Basra, believes that the continued decline in the value of the dinar means the failure of negotiations to replace the dollar with other currencies in dealings with Tehran.

Al-Marsoumi says that the United States appears to have refused to use “the euro, the Chinese yuan, and the UAE dirham” in exchanges between Iraq and Iran.

The economics professor believes that Washington may have considered this measure a violation of US sanctions on Iran.

Before going to New York, Al-Sudani announced new steps in the issue of the dollar exchange rate crisis, and said that these steps would “break down” the parallel market.

The Prime Minister confirmed that “the Iranian side informed the government in the last meeting to stop dealing in the dollar, and to replace it with the euro, the yuan, the dirham, the Iraqi dinar, or the Iranian toman.”

Al-Sudani also said that the new mechanism with Iran “will break the back of the parallel market.”

Yesterday, Al-Sudani's office announced that the latter had concluded his visit to the United States, while he did not meet President Joe Biden as expected.

Leaks indicate that the visit may have been postponed to another time, expected to be at the end of this year, for reasons that may be related to Washington not being convinced of the government’s steps regarding the issue of the relationship with Tehran and the “dollar.”

The results of the visit seem uncomfortable for the coordination framework, despite government assurances, as the former fears a wave of protests over the issue of the dollar price as the anniversary of the October demonstrations approaches.

According to what the sources said, it was expected that Baghdad would receive “clearer signals on the issue of Iran, the dollar, and energy during the officials’ meetings in New York.”

Contrary to expectations, attempts in Parliament were made to demand the dismissal of the Governor of the Central Bank, Ali Al-Alaq, against the backdrop of the dollar crisis.

Muhammad Nouri, a member of the Finance Committee in Parliament, previously criticized Al-Alaq as not having any clear strategic solutions “to get out of the crisis.”

In a conference inside the House of Representatives, Representatives Hadi Al-Salami and Ahmed Majeed demanded the dismissal of the Central Bank Governor due to his inability to control “the rise in the dollar exchange rate.”

Al-Salami said that Al-Alaq did not take measures “against the banks that were subject to US sanctions,” and refrains from announcing the daily sales bulletin.

As for Representative Majeed, he confirmed that there is forgery in the receipts that are submitted to the Central Bank through the currency selling window to buy dollars to import goods, and it is in fact “a currency smuggling operation.”

He added that these banks - which buy the dollar - “are the economic arms of political parties.” LINK

Issuing “Treasury Bonds” In Dollars To Finance Development

Money  and business  Economy News _ Baghdad   A number of specialists in the financial and economic fields proposed the idea that Iraqi capital from inside and outside would contribute to building the giant “development road” project, by issuing treasury bonds in dollars, such that the value of one bond was one hundred dollars or one thousand dollars, and these bonds were purchased in dinars. It is calculated at the official rate of the dollar (1320) dinars per dollar, and at a remunerative interest rate such as 5 percent, while allowing foreign capital to buy these bonds in Iraqi dinars.

Rapporteur of the Parliamentary Finance Committee for the fourth session, Dr. Ahmed Al-Saffar, stated in an interview with “Al-Sabah” followed by “Al-Iqtisad News” that “issuing treasury bonds in dollars to finance (the development road) is a good proposal and has positive effects on the movement of the existing monetary mass, by withdrawing The money hoarded outside the banks, which is estimated at about 75 percent of the total monetary mass, is hoarded by citizens because they do not trust the banking sector, so issuing these bonds will lead to the withdrawal of that money and the introduction of a stream of monetary circulation.”

He pointed out that “the base for participation in financing the project will expand and the burden on the government will be reduced in terms of funds allocated for this large project. This will have an impact - albeit indirect - on the exchange rate of the dollar in the market, and thus the amount of demand for the dollar will decrease and the use of the Iraqi dinar will increase.

” The purchase process, and the participation of external capital is beneficial, provided that it is purely Iraqi money and not the result of a foreign partnership.”

Al-Saffar explained, “If the government is able to implement this project; “It will have an economic impact in all agricultural, industrial,

commercial and even tourism sectors.”

For his part, the expert in economic affairs, Dr. Nabil Jaafar Al-Marsoumi, pointed out that “the (development road) project needs very large investments.

The first five-year phase needs 17 billion dollars, and therefore we need 3 and a half billion dollars annually to finance the project.” .

He pointed out that “there are difficulties in attracting foreign investments to implement the (development road) due to the challenges that it will face, including logistical and security ones. Therefore, the financing of the first phase must be Iraqi, and when we put the basic foundations in the first phase and through it we can build or pass loads estimated at 3. 5 million containers annually, after which foreign investment can be introduced.”

Al-Marsoumi explained that “internal financing for the project is done in two ways: Either by providing funds through the general budget, which is very difficult, especially since the estimated three-year deficit is 63 trillion dinars annually, or by issuing treasury bonds, which is one of the proposals that must be looked at seriously, especially since it contributes to withdrawing part of the bloc. Cash and reduces the total demand for the dollar, we need new Iraqi financing for (the development path).”

102 views 09/24/2023 https://economy-news.net/content.php?id=36564

Issuing {Treasury Bonds} In Dollars To Finance The {Development Road}

Iraq  09/24/2023    Baghdad: Hoda Al-Azzawi  A number of specialists in the financial and economic fields put forward the idea that Iraqi capital from inside and outside would contribute to building the giant “development road” project, by issuing treasury bonds in dollars, such as if the value of one bond was one hundred dollars or one thousand dollars.

Purchasing these bonds in Iraqi dinars, provided that they are calculated at the official dollar rate (1320 dinars per dollar), and at a remunerative interest rate such as 5 percent, while allowing external capital to purchase these bonds in Iraqi dinars.

Rapporteur of the Parliamentary Finance Committee for the fourth session, Dr. Ahmed Al-Saffar, stated in an interview with “Al-Sabah”: “Issuing treasury bonds in dollars to finance (the development road) is a good proposal and has positive effects on the movement of the existing monetary mass, by withdrawing the hoarded funds outside the banks that...

It is estimated at about 75 percent of the total monetary mass, and it is hoarded by citizens because they do not trust the banking sector, so issuing these bonds will lead to withdrawing that money and introducing a stream of cash circulation.”

He pointed out that “the base for participation in financing the project will expand and the burden on the government will be reduced in terms of funds allocated for this large project.

This will have an impact - albeit indirect - on the exchange rate of the dollar in the market, and thus the amount of demand for the dollar will decrease and the use of the Iraqi dinar will increase.

” The purchase process, and the participation of external capital is beneficial, provided that it is purely Iraqi money and not the result of a foreign partnership.”

Al-Saffar explained, “If the government is able to implement this project; “It will have an economic impact in all agricultural, industrial, commercial and even tourism sectors.”

For his part, the expert in economic affairs, Dr. Nabil Jaafar Al-Marsoumi, indicated in an interview with “Al-Sabah” that “the (Development Road) project needs very large investments. The first five-year phase needs 17 billion dollars, and therefore we need 3 One and a half billion annually to finance the project.”

He pointed out that “there are difficulties in attracting foreign investments to implement the (development road) due to the challenges that it will face, including logistical and security ones. Therefore, the financing of the first phase must be Iraqi, and when we put the basic foundations in the first phase and through it we can build or pass loads estimated at 3. 5 million containers annually, after which foreign investment can be introduced.”

Al-Marsoumi explained that “internal financing for the project is done in two ways: Either by providing funds through the general budget, which is very difficult, especially since the estimated three-year deficit is 63 trillion dinars annually, or by issuing treasury bonds, which is one of the proposals that must be looked at seriously, especially since it contributes to withdrawing part of the bloc. Cash and reduces the total demand for the dollar, we need new Iraqi financing for (the development path).”

Edited by: Muhammad Al-Ansari   https://alsabaah.iq/84540-.html

Points to Ponder of Hope:

Beware how you take away hope from another human being. -- Oliver Wendell Holmes

Hope arouses, as nothing else can arouse, a passion for the possible. -- William Sloane Coffin Jr

In prosperity prepare for a change; in adversity hope for one. -- James Burgh

For he who has health has hope; and he who has hope, has everything. -- Owen Arthur

Hope is like the sun, which, as we journey toward it, casts the shadow of our burden behind us.-- Samuel Smiles

Hope... is the companion of power, and the mother of success; for who so hopes has within him the gift of miracles.  -- Samuel Smiles

I want to help people with depression understand that there is hope, so that they can get the help they need to live rich, fulfilling lives. -- Tom Bosley

Goldilocks' Comments and Global Economic News for September 23rd

Goldilocks' Comments and Global Economic News for September 23rd

Good afternoon Dinar Recaps,

India to get billions of foreign investments
JPMorgan Chase & Co. will include Indian government bonds in its benchmark emerging-market index, a welcome development that could drive billions of foreign inflows to the nation’s debt market.

The decision is the latest sign of India's growing attractiveness to international investors, as the country's economic growth outpaces peers, its geopolitical influence grows, and companies including Apple Inc. look for alternatives to China.

The index provider will add Indian securities to the JPMorgan Government Bond Index-Emerging Markets starting June 28, 2024. The South Asian nation will have a maximum weight of 10% on the index, according to a statement.

The move follows the Indian government's introduction in 2020 of bonds that can be wholly owned by foreigners, as well as moves to promote foreign portfolio investment.

https://twitter.com/MultiPolarMarkt

~~~~~~~~~~

"About 93% of global central banks are exploring the possibility of having their own digital currencies.

Such central bank digital currencies could boost local-currency payments, and aid the de-dollarization drive, according to a paper by IMF staff."

Using local digital currencies instead of the dollar as the World Reserve Currency in trade will really escalate the move to a digital economy backed by gold and other commodities.

This is why Central Banks around the world have been buying so much gold for decades. The plan for this move has been going on for some time, and institutional moves like this creates changes to everything.

This is why I want to encourage you to do everything you can to not give up hope because the Global Currency Reset is inevitable.

You were drawn to this adventure for a reason. Please, realize it is more than just for your well-being. The abundance you receive, if managed well, has the potential to touch millions of lives. An undertaking on this magnitude is never done alone, you will be guided by forces of nature in Heaven and on Earth to create paths you've never seen before.

Enjoy your weekend and know you have become a part of something really great. The greatness that chose you to participate in this journey knows you can fulfill the purpose for which you were born.

There has never been a greater time to live on this Earth creating a window of opportunity between angelic forces and our Creator guiding us and reminding us who we really are.

This is an evolutionary benchmark for humanity to become more fully what we are capable of going forward. It is a test that we must pass. For those who have made it this far, may you express and experience the desire to become what we were made from - LOVE.

© Goldilocks
Business Insider Link

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Iraqi PM delivers speech at UN General Assembly

Iraqi News

~~~~~~~~~~

"Emerging markets drive global crypto adoption out of necessity, not speculation" - Chainalysis

Our move from a gold-backed economy to a gold-standard economy would not have been possible without a digital economic protocol. It gives every country around the world the opportunity to stand on equal footing.

We are at a crossroads in history, and the mere survival of the human race depends on the choices we make going forward. The road ahead not only challenges us to survive, but it challenges us to thrive in working together for the good of all. From me to we is the challenge, and we must succeed in it.

This new Financial System will enable a Level Playing in trade and local opportunities will flourish because of it.

It captures the minds and hearts of the young and old in creative ways never seen before, and it will enable full participation of the gifts and talents of many generations to come.

This new economic endeavor has the capacity to change the world in a way never thought possible through full participation and collective efforts of minds across the globe engaged in forging a path into the world that was once done by a few.

We are true pioneers on this journey and collectively involve more of the human race because of it. This movement will require faith, hope, and love to achieve our greatest potential.

It is time for us to join hands as brothers and sisters in a great transfer of wealth that will provide an opportunity for each person to participate.

The Age of Creativity is here.

© Goldilocks

Kitco Link

~~~~~~~~~~

Billion-Dollar Bank Terminating Cash Transactions in All Branches in Abrupt Shift to Digital-Only Era  

The Daily Hodl

~~~~~~~~~~

Trading Announcement:

"The Electronic Trade Documents Act (“the Act”) comes into force today in the United Kingdom, giving legal recognition in English law to electronic trade documents, including electronic bills of lading."

https://www.hellenicshippingnews.com/ig-statement-the-uk-electronic-trading-act-comes-into-force-today/

~~~~~~~~~~

Press release distribution, EDGAR filing, XBRL, regulatory filings | Business Wire

SAN MATEO, Calif.--(BUSINESS WIRE)--"Franklin Templeton continues to grow its active fixed income exchange-traded fund (ETF) lineup with today’s launch of Western Asset Bond ETF on Nasdaq under the ticker WABF. WABF is actively managed by Western Asset, a leading fixed income manager and specialist investment manager of Franklin Templeton."

Do you see it? Our assets on the old Financial System are being tokenized and offered.

The world is changing my friends and transforming itself into a new world.

© Goldilocks
Business Wire Link

~~~~~~~~~~

"Today, the European Chips Act enters into force. It puts in place a comprehensive set of measures to ensure the EU’s security of supply, resilience, and technological leadership in semiconductor technologies and applications."

https://europeansting.com/2023/09/21/digital-sovereignty-european-chips-act-enters-into-force-today/

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CRYPTO NEWS from around the world:

New Ethereum Test Network

Ethereum developers launched a new test network, ‘Holesky’, that will improve the blockchain’s testing capability. The testnet should have 1.4 million validators, double the 700,000 on its mainnet, to help address scalability problems.

South Koreans Declare Over US$98 Billion in Crypto Assets

South Korea’s tax agency announced that taxpayers have declared overseas cryptocurrency assets worth US$98.5 billion following the introduction of mandatory reporting requirements — a steep rise from the previous year’s figures.

PayPal Launches Crypto Off-Ramp

PayPal has added to its crypto product suite with the launch of a new off-ramp service to convert crypto tokens to US dollars directly from wallets into PayPal accounts. PayPal has also made its stablecoin, PYUSD, available on Venmo – with Venmo users now able to send PYUSD to friends and family to compatible external wallets, such as with Crypto.‌com.

SWIFT CBDC Project

SWIFT announced that three other central banks, including the Hong Kong Monetary Authority and the Central Bank of Kazakhstan, have joined the beta phase of its central bank digital currency (CBDC) interoperability project. It has also entered a new phase of sandbox testing.

Meta’s Metaworld Game

Meta CEO Mark Zuckerberg announced in a Sept. 15 blog post that Meta has started rolling out its first Metaverse game to mobile and web in an early-access state. The only experience available now is Super Rumble, a free-for-all shooter.

Coin Telegraph Link

Coin Desk Link

https://decrypt.co/156008/paypal-launches-crypto-to-usd-off-ramps

https://www.meta.com/en-gb/blog/quest/horizon-worlds-web-mobile-social-vr-free/

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Citi launches token service for institutional clients

Banking Dive

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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   www.DinarRecaps.com

KTFA Members "News and Views" 9-23-2023

KTFA:

Cclare:  The Prime Minister returns home after concluding his visit to New York

9/23/2023

Prime Minister Muhammad Shiaa Al-Sudani returned to the homeland today, Saturday, after concluding his visit to New York.

The Prime Minister’s Media Office said in a statement received by Mawazine News, “Prime Minister Muhammad Shiaa Al-Sudani returned to the homeland after concluding his visit to New York, which included:

Giving Iraq’s speech at the meetings of the United Nations General Assembly at its seventy-eighth session, delivering a speech at the Sustainable Development Goals Summit, meeting with the German Chancellor, meeting with the Spanish Prime Minister

A meeting with the Dutch Prime Minister, meeting with the President of Bulgaria, meeting with the Prime Minister of the Kingdom of Norway, meeting with the President of the Republic of Cyprus, and meeting with the President The Republic of South Korea

A meeting with the Malaysian Prime Minister, a meeting with the President of the Islamic Republic of Iran, a meeting with the Lebanese Prime Minister, a meeting with the Kuwaiti Prime Minister, a meeting with the Chairman of the Yemeni Presidential Leadership Council, a meeting with the British Deputy Prime Minister

A meeting with the US Secretary of State, a meeting with the US Treasury Under Secretary, and a meeting with the Secretary General of the United Nations, a meeting with the US President’s special envoy to the Middle East and North Africa, a meeting with the Secretary-General of NATO, a meeting with the Director of the United Nations Development Programme, a meeting with the Economic and Social Commission for Western Asia (ESCWA), and a meeting with the heads and representatives of General Electric companies.

And the multinational technology group Honeywell and the American law firm Covenkin, a meeting and dialogue symposium with members of the American Chamber of Commerce in the presence of businessmen and investors, a dialogue session at the US Council on Foreign Relations, a dialogue symposium held by the American institutions Al-Monitor and Semaphore, and a group of interviews with a number of American media outlets, and issuing a statement. Joint with the Malaysian Prime Minister on combating Islamophobia.    LINK

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Clare:  Director of the Prime Minister's Media Office: The Prime Minister presented Iraq's official speech at the United Nations in the best possible way

9/23/2023  Economy News

Director of the Prime Minister's Media Office, Rabie Nader, confirmed today, Saturday, that Prime Minister Muhammad Shiaa Al-Sudani, over the course of six days, presented - in the best possible way - Iraq's official speech, which is based on balance, building serious economic partnerships, and building bridges of cooperation.

Nader said in a blog post on the (x) Twitter platform previously followed by “Al-Iqtisad News”: “An important and active Iraqi movement in New York, which included meetings and encounters with an unprecedented number of leaders and leaders of countries from different directions and continents, and the common link between all of them is the great desire for openness to Iraq.” And work on it.”
He added, "Over the course of six days, the Prime Minister presented - in the best possible way - Iraq's official speech, which is based on balance, building serious economic partnerships, and building bridges of cooperation."Nader continued:

He stressed that "in addition to presidents and leaders, there was clear interest from research centers and institutions, which were keen to hold seminars with the aim of listening to the convictions and policies pursued by the Prime Minister in politics, security, economics and foreign relations."  LINK

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

Zeeman:  I believe that the pm trip was a major success after meeting many heads of state as well as major world wide busisness chiefs and promoting his country  as a hub of the middle east. It is now time for Iraq to put on their big boy pants and do the right thing . imo

Clare:  Al-Sudani concludes his visit to New York with an international and British meeting

9/23/2023

On Saturday, Iraqi Prime Minister Muhammad Shiaa Al-Sudani concluded his visit to New York, after participating in the meetings of the United Nations General Assembly in its seventy-eighth session.

This was mentioned by the Sudanese Media Office in a brief statement received by Shafaq News Agency.

Before that, Al-Sudani met with the Secretary-General of the United Nations, Antonio Guterres, at the organization’s headquarters in New York.

According to a statement issued by his office, received by Shafaq News Agency, during the meeting, Iraq’s relations with the United Nations and its institutions were reviewed in various fields, and its efforts were strengthened regarding many priority issues and files, and mechanisms for continuous coordination with international institutions in implementing Development and humanitarian programs and projects in a number of Iraqi cities.

Al-Sudani praised the role of the United Nations and its institutions in supporting Iraq, and its efforts to promote stability and societal peace, referring to the visit made by the Secretary-General of the United Nations to Baghdad last March, which constituted a turning point towards raising the level of cooperation, and an opportunity to stimulate international work in Iraq.

He also stressed the constructive cooperation with the organization to implement the priorities of the government program, with regard to programs to combat poverty, and to find solutions to confront drought and desertification and mitigate their effects.

For his part, the Secretary-General of the United Nations affirmed his support for the government’s efforts in implementing its development programs and plans, pointing to Iraq’s pivotal role, and its adoption of a policy of dialogue and bringing different points of view closer together, as a bridge for communication and rapprochement between the countries of the region. He also expressed the support of the United Nations and its sharing of Iraq’s call for For international cooperation to confront serious environmental challenges and the effects of drought and climate change that the region and the world are witnessing.

At the conclusion of his visit to New York, Al-Sudani also met with British Deputy Prime Minister Oliver James Dowden.

The meeting witnessed, according to a statement issued by his office and received by Shafaq News Agency, a review of the overall bilateral relations between Iraq and Britain, and ways to strengthen them in all fields, for the benefit of the two friendly peoples.

Al-Sudani stressed the government's openness to expanding the partnership with Britain in various fields, stressing that Iraq has many promising investment opportunities that British companies can invest in, with the expertise these companies possess that all sectors in Iraq need.

He also indicated the government's intention to reorganize the relationship with the international coalition to fight ISIS, praising the United Kingdom's contribution to the NATO mission operating in Iraq, and its efforts in providing advice in the field of training.

For his part, Dowden conveyed the greetings of British Prime Minister Rishi Sunak, and expressed his country’s desire to continue communicating and working to develop relations between the two countries in various fields, according to a statement from Al-Sudani’s office. 

Yesterday, Friday, Al-Sudani delivered a speech during the 78th session of the United Nations General Assembly, in which he declared Iraq’s commitment to all international agreements, calling on neighboring countries not to interfere.

On September 8, the Sudanese arrived in New York City, United States of America.

The Iraqi delegation participated in the meetings of the United Nations General Assembly, headed by Al-Sudani and Foreign Minister Fuad Hussein, and they met with a number of world leaders.   LINK

Iraq Economic News and Points to Ponder Saturday Afternoon 9-23-23

Iraq Economic News and Points to Ponder Saturday Afternoon  9-23-23

Tlm724 Administrator Bondlady’s Corner

Economist For /NINA/: The Oil And Gas Law Will Contribute To Distributing The Financial Returns Of Iraqi Oil Wealth

Saturday 23, September 2023 09:49 | Economical Number of readings: 477  Baghdad / NINA / Economic affairs expert, Raad Tawij, called for avoiding the legislation of the oil and gas law and not delving into it, attributing this to the fact that oil is an indivisible, strategic commodity.

Twig said in a statement to the National Iraqi News Agency ( NINA ): “It is best for Iraq to avoid the oil and gas law and not engage in it because it harms the whole of Iraq,” attributing this to: “Oil is an indivisible, strategic commodity, and the oil and gas law can lead to dispersion.” The value of oil wealth.

He pointed out that "several parties are involved in managing the oil wealth, which will contribute to the fragmentation of the financial returns of the oil wealth and a significant shortfall in oil revenues and revenues, which will be difficult to compensate for. The evidence of this is the inability to formulate a law that satisfies everyone, which has continued for many years."

The economic expert continued, "This law may be a reason for illegal monetary demands from Iraq to local and international parties, such as Turkish financial demands from Iraq, taking advantage of its illegal contracts with the Kurdistan region."  https://ninanews.com/Website/News/Details?key=1079316

Economic Specialist: Al-Sudani Gave Confidence In Iraq’s Investment Climate And His Dialogues At The United Nations Are Important..

Saturday 23, September 2023 11:38 | Economical Number of readings: 465  Baghdad / NINA / The specialist in economic affairs, Durgham Muhammad Ali, confirmed: “The Prime Minister’s meetings and dialogues on the sidelines of the United Nations meetings are important if they are followed up and implemented.”

Muhammad Ali said in a statement to the National Iraqi News Agency ( NINA ): “The Sudanese gave confidence in Iraq’s investment climate and made important calls to invest in upcoming strategic projects with a brief explanation of their importance, calling for the formation of committees to follow up on all bilateral understandings and talks to transform the oral agreements into a field reality through... Bilateral agreements and incentives to enter the Iraqi market.”

Muhammad Ali stressed, "The necessity of forming a higher investment council supervised by the Prime Minister to simplify investment procedures and encourage investors to enter the Iraqi market and remove the obstacles facing their work."

Prime Minister Muhammad Shiaa Al-Sudani visited New York to participate in the meetings of the United Nations General Assembly at its seventy-eighth session, and held discussions with heads of state and government and senior officials from various countries of the world, in addition to holding media dialogues./End    https://ninanews.com/Website/News/Details?key=1079329

"Oil Price" Salutes Iraq's Global Ambitions In The Petrochemical Sector

Reports  Economy News  A specialized American website touched on the enormous oil and gas resources available in Iraq and the extent of this country’s ability to become a global producer of high-value petrochemicals, indicating that it will benefit greatly from the huge revenues from these value-added products.

In a report published by the American “Oil Price” website, writer Simon Watankins said that there had been plans to do this several years ago, especially the “Nebras Project” for petrochemical industries. According to comments from the Iraqi Oil Ministry, talks took place last week to approve the “final concept” of this long-awaited station, and “emphasize the need to accelerate plans to implement this project.”

In January 2015, Shell signed the original deal to build the then $11 billion nuclear power plant in the southern oil hub of Basra, after signing the original memorandum of understanding in 2012.

At that time, there were high hopes on both sides for the future of the “Nebras” project, as the then Minister of Industry, Nasser Al-Issawi, said in a press conference that the nuclear power plant would enter into operation within 5 or 6 years and would make his country the largest producer of petrochemicals in the region.

Monetary compensation

For Shell, this gave it the opportunity to launch its initial operations in the Majnoon field and the West Qurna 1 field and transform it into a leading refining station in the field of manufacturing industries.

These reserves of oil and associated gas have been provided to add to the potential raw materials that will come from Shell's 44% stake in the Basra Gas Company project, which is worth $17 billion and was launched 25 years ago. The Basra Gas Project is designed to collect gas from fields in the south, including West Qurna 1, Zubair and Rumaila.

According to the writer, Nebras's design plans were for a project that could produce at least 1.8 million metric tons annually of various petrochemicals. This would make it the first and largest petrochemical project in Iraq since the early 1990s and one of only 4 such major complexes in the entire country. The other areas - Khor Al-Zubair in the south, Al-Musayyab near Baghdad, and the Baiji refinery complex in the north - were all managed by the Iraqi General Company for Petrochemical Industries.

However, since the launch of the Nebras project, problems have become clear for Shell, as has happened with many foreign oil and gas companies that have operated in Iraq. According to the independent organization Transparency International, in its “Corruption Perceptions Index” publications, Iraq is always ranked among the 10 worst countries out of 180 countries in terms of the extent and scope of corruption.

In fact, Shell was unlucky enough to sign the original memorandum of understanding for the Nebras project during the period in which Iraq lost about $14.4 billion in “cash compensation” payments, according to a statement made in 2015 by the Minister of Oil and the Prime Minister of Iraq. Later, Adel Abdul Mahdi.

Petrochemical products

This “cash compensation” includes what can be classified as bribery and corruption payments that ended up either in the hands of Iraqi officials, brokers of various exploration and development deals, or others involved in these deals. Also during this period, ExxonMobil began to face the same type of problems in its highly important joint seawater supply project.

The report confirmed that there is still a truly tremendous opportunity in the "Nebras" project that Iraq can exploit. As explained exclusively to Oil Price in 2018 by a prominent figure in one of the Russian companies that was looking to acquire the Nebras project, Shell has done a really good job so far with the Basra Gas Company, but the country needs to implement its plans. To develop a second gas center away from Basra.

The Russian source said, “This will lead to the volume of gas production reaching an average of one billion standard cubic feet per day, so that ethane can be extracted on a sustainable and reliable basis, which will provide sufficient volume for a large petrochemical plant to be viable.”

By 2019/2020, the Basra Gas Company reached the peak production rate at more than this required level (1.035 billion standard cubic feet per day), which is the highest rate in the history of Iraq.

The report concluded with what the source said that the global ethylene production facility - one of the most in-demand petrochemical products in the world, especially from China - ranges between 1 and 1.5 million tons of ethylene production, and one million tons annually, and the ethylene facility will require a supply of about 1.3 million tons annually of ethane. .

There must be a sustainable and reliable supply for at least 20 to 25 years, and in general, building all the necessary parts of an effective global petrochemical sector in Iraq will require about $40 to $50 billion.”  Source: Oil Price  158 views 09/23/2023 - https://economy-news.net/content.php?id=36556

More Than One Billion Dollars In Sales From The Central Bank Of Iraq During The Past Week

Economy News  The Central Bank of Iraq's total sales of hard currency during the past week amounted to more than one billion US dollars.

According to the dollar sales tables published on the Central Bank’s website, $1,010,484,084 was sold during the past week and for the five days in which the auction opened, an increase of 3% over last week, in which sales amounted to $197,677,718.

The highest dollar sales were on Monday, when they amounted to more than $219 million, while the lowest sales were on Wednesday, when they amounted to more than $197 million.

Foreign remittance sales during the past week amounted to more than $951 million, an increase of 83.91% compared to cash sales, which amounted to more than $153 million.

It is noteworthy that the sales went in the form of cash and transfers abroad to finance foreign trade, while the selling price of the amounts of documentary credits and international settlements for electronic cards reached 1,305 dinars per dollar, while the selling price of the amounts of transfers abroad and the cash selling price reached 1,310 dinars per dollar.

Views 66 09/23/2023 - https://economy-news.net/content.php?id=36558

Advisor To The Prime Minister: The Path To Development Sparked Strategic Economic Programs In Iraq

Reconstruction and building   Economy News   The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Saturday, that the government’s vision is based on the sustainability of financing investment projects away from oil.

Saleh told the Iraqi News Agency (INA), followed by Al-Iqtisad News: “The draft economic reform law, the draft of which the Council of Ministers had previously discussed in the past months, represents the government’s vision that was formulated by the ministerial platform, which is based on the principle of partnership between the state and the private sector, in a way that achieves a major shift in financing.

Investment projects, with high financing sustainability, in which the private sector contributes with their income and financial surpluses, away from the restrictions imposed by fluctuations in the oil asset cycle and dependence on the unilaterality of the oil resource in financing development.”

He added, "The Economic Reform Law serves as the philosophical foundation for the Iraq Fund for Development, and it is one of the important executive arms of the Economic Reform Law and represents the essence of the partnership between the state economy and the market economy,"

pointing out that "the national strategy for developing the private sector that was previously approved and its importance in raising the contribution of market activity In the gross domestic product, it will reach more than 50% of the gross domestic product within a decade instead of its current situation, in which the private sector still contributes less than 37% to the formation of that national product.

Saleh explained that “economic diversification and abandoning the unilateralism of the rentier economy require a reform law in which the leadership of the productive national market is integrated into the process of economic construction of Iraq, side by side with the role of the state in development and with effective partnerships required by the future economic advancement in Iraq, which was sparked by Iraq’s strategic economic programme, which is path of development.

Views 87 09/23/2023 - https://economy-news.net/content.php?id=36559

The Dollar Exchange Rate Continues To Rise In Iraq

Economy | 11:42 - 09/23/2023  Baghdad - Mawazine News  The exchange rate of the dollar continued to rise against the dinar in local markets.  The selling price was $100, compared to 156 thousand dinars.  While the purchase price was recorded at 100 dollars compared to 153 thousand. Ended 29/h

https://www.mawazin.net/Details.aspx?jimare=235394

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Points to Ponder From KAHLIL GIBRAN:

If the other person injures you, you may forget the injury; but if you injure him you will always remember.

They deem me mad because I will not sell my days for gold; and I deem them mad because they think my days have a price.

The significance of a man is not in what he attains but rather in what he longs to attain.

The tiny flame that lights up the human heart is like a blazing torch that comes down from heaven to light up the paths of mankind. For in one soul are contained the hopes and feelings of all Mankind.

Work is love made visible. And if you cannot work with love but only with distaste, it is better that you should leave your work and sit at the gate of the temple and take alms of those who work with joy.

"Tidbits From TNT" Saturday 9-23-2023

TNT:

Tishwash:  Deputy: Iraq's openness will prompt an influx of Arab and international investments

Representative from the State of Law coalition, Jassem Al-Moussawi, confirmed today, Saturday, that the government has become more open to Arab and regional countries. 

Al-Moussawi said in an interview with the Maalouma Agency, “Openness to the countries of the world creates economic bases for the country because it will push the flow of Arab and international investments.”

He added, "The visit of Prime Minister Muhammad Shia al-Sudani to Washington supported the stability of the Iraqi economy and control of the file of exchange rates of the dollar against the dinar."  

He pointed out that "Iraq is moving towards openness to all international countries to conclude balanced relations based on achieving common interests, preserving sovereignty, and non-interference in internal affairs."   link

Tishwash:  Baghdad Today" publishes a summary of the Prime Minister's meetings in New York

 Today, Saturday (September 23, 2023), Baghdad Al-Youm news agency publishes a summary of the meetings of Prime Minister Muhammad Shiaa Al-Sudani on the sidelines of the work of the United Nations General Assembly at its seventy-eighth session held in New York .

Below is a summary of the meetings :

From Europe :

● German Chancellor 

● Spanish Prime Minister

● Bulgarian President

● Norwegian Prime Minister

● Dutch Prime Minister

● President of Cyprus

● British Deputy Prime Minister

From Asia :

● President of the Republic of South Korea 

● Malaysian Prime Minister 

From countries in the region :

● Chairman of the Yemeni Presidential Leadership Council

● Iranian President

● Kuwaiti Prime Minister

● Lebanese Prime Minister

As well as :

■ US Secretary of State

■ Secretary-General of the United Nations 

■ Secretary General of NATO

■ US President’s Special Envoy to the Middle East and North Africa McGurk

■ US Treasury Agent

■ Director of the United Nations Development Programme

■ Economic and Social Commission for Western Asia (ESCWA)

 Research centres, seminars and interviews 

▪︎ Dialogue session with the US Council on Foreign Relations

▪︎ A dialogue symposium held by Al-Monitor and Semaphore Americas

▪︎ A meeting with members of the American Chamber of Commerce in the presence of businessmen, investors and representatives of major American companies

▪︎ Interview with Bloomberg Channel

▪︎ Interview with CNN

▪︎ Interview with the National newspaper

▪︎ Interview with the New York Times

 Companies 

• A meeting with the American company General Electric

• A meeting with the multinational technology group Honeywell

• Kuvinken, an American law firm

The Director of the Media Office of the Prime Minister, Rabie Nader, confirmed today, Saturday (September 23, 2023), that Prime Minister Muhammad Shiaa Al-Sudani, over a period of six days, presented in the best possible way Iraq’s official speech, which is based on balance, building serious economic partnerships, and building bridges of cooperation .

Nader said in a blog post on the (x) Twitter platform previously, followed by “Baghdad Today,” that “an important and active Iraqi movement in New York included meetings and encounters with an unprecedented number of leaders and leaders of countries from different trends and continents, and the common link between all of them is the great desire for openness to Iraq and working there .”

He added, "Over the course of six days, the Prime Minister presented - in the best possible way - Iraq's official speech, which is based on balance, building serious economic partnerships, and building bridges of cooperation ."

Nader continued: “What is striking is that most of those whom the Prime Minister met, including leaders and presidents, were very attentive and interactive with the priorities he adopted,” noting that “more than one head of state expressed a sincere desire to visit Iraq, in a clear manifestation of the (productive diplomacy) that It was adopted by this government, which is keen to stay away from formal relations that do not go beyond the stage of taking souvenir photos .”

He stressed that "in addition to presidents and leaders, there was clear interest from research centers and institutions, which were keen to hold seminars with the aim of listening to the convictions and policies pursued by the Prime Minister in politics, security, economics and foreign relations. "  link

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Tishwash:  Moscow: We look forward to Al-Sudani’s visit to Russia during the next few weeks

Today, Saturday (September 23, 2023), the Ministry of Foreign Affairs announced a meeting that took place between Iraqi Foreign Minister Fuad Hussein and Russian Foreign Minister Sergei Lavrov, during which they discussed bilateral relations between the two countries.

The ministry stated, in a statement received by "Baghdad Today", "Deputy Prime Minister and Foreign Minister Fuad Hussein met on Friday, September 22, 2023, with Russian Foreign Minister Sergei Lavrov, on the sidelines of his participation in the high-level week of meetings of the 78th session of the United Nations General Assembly." "United." 

She added, "During the meeting, the prospects for joint cooperation and development of bilateral relations between the two countries were discussed," noting that "Hussein confirmed that the Iraqi side is working to complete the necessary preparations for the visit of Prime Minister Muhammad Shiaa Al-Sudani to the Russian capital, Moscow, during the next few weeks."

He continued, "The discussions between the two sides during the visit will provide an appropriate opportunity to discuss bilateral cooperation between the two sides in the political and economic fields, indicating the possibility of holding a meeting of the joint Iraqi-Russian committee on the sidelines of this visit."

For his part, Russian Foreign Minister Sergei Lavrov stressed, according to the statement, "his country's keenness to develop bilateral relations between the two friendly countries."   link

Mot:  . Ya Has a Clean House - Ya thinking of Having sum ""Wee Uns""

Mot: and yet Another ""Raising the Wee Folks"" awareness Tip - from ole wise Mot of course-