"Tidbits From TNT" Friday 10-6-2023

 TNT:

CandyKisses:  Iraq announces imminent entry into force of electrical interconnection with Jordan

Baghdad - Iraq Today:

The Ministry of Electricity confirmed that the electrical interconnection with Jordan will enter into force within the next few days.

Ministry spokesman Ahmed Moussa said in a press statement that "the electrical interconnection with the State of Jordan has been completed and the project will enter into force in the next few days, and the supply of electrical energy will take effect."

Moussa added, "The electrical interconnection will enter its first phase soon, at a rate of 50 megawatts out of 150, and thus gradually enter full service once the first phase is completed."

He pointed out that "the areas benefiting from the link with Jordan are the areas of wetlands and the western regions."

Tishwash:  Signing a memorandum of understanding to supply Turkmen gas to Iraq

On Friday, the Ministry of Electricity announced the signing of a memorandum of understanding to supply Turkmen gas to Iraq

The media office of the Minister of Electricity, Ziad Ali Fadel, stated in a brief statement that the latter signed in Baghdad a memorandum of understanding with the Turkmenistan Minister of State for Gas Affairs, to supply Turkmen gas to Iraq.    link

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CandyKisses:  Macron is expected to visit Baghdad. What are its goals?

Baghdad Today – Follow-up

French President Emmanuel Macron is preparing to make a visit, the third of its kind, to Baghdad since he took office in 2017. According to observers, he will devote it to supporting his country's investments in Iraq and improving the atmosphere between Baghdad and Kuwait, in preparation for the third Baghdad conference, in which he will participate in addition to the leaders of Gulf countries and neighboring Iraq. After the failure of its preparatory meeting in New York due to the Khor Abdullah case . 

Macron's visit comes amid successive French losses in its positions in Africa, following the coups that the African continent witnessed recently, and in light of doubts about the European country's ability to consolidate or expand its gains in Iraq, given its differences with the United States of America, which has the greatest influence in Iraq and the region .

Nizar Haider, a political analyst based in Washington, said during an interview, "France has a great interest in Iraq on two levels. The first is bilateral, and includes the fields of energy and security specifically, and the second is at the ocean and regional level through its adoption of the Baghdad Conference project, which will be held in its third edition in The capital, Baghdad, next month .Washington-based political analyst Nizar Haidar said, during an interview.

Haider adds, "On the first level, French investment in Iraq is of great importance, as the contracts of French oil companies, specifically Total, exceeded more than 30 billion dollars, and it is an important investment that contributes to solving many of the economic problems that Paris is currently going through, which caused... It has sustained crises manifested by protests, sit-ins and strikes .”

On Wednesday, Prime Minister Muhammad Shiaa Al-Sudani received the Advisor for Middle East and North Africa Affairs in the Presidency of the French Republic, Patrick Durrell, and during the meeting, the upcoming visit of French President Emmanuel Macron to Iraq was discussed, and the development of bilateral relations between the two countries was discussed, in accordance with the strategic agreement. The comprehensive agreement signed between them, according to an official statement from Al-Sudani's office .

Foreign Ministry spokesman Ahmed Al-Sahhaf also announced earlier that French Foreign Minister Catherine Colonna will visit Baghdad at the end of this month .

The political analyst confirms that "the French military presence in Iraq is within the framework of the international coalition for the war on terrorism, and it is of great importance to Paris in particular, because it participates in the fighting and not, as the government rumored, that its role is for advice and training, and what revealed the matter was the news of the phone call made by the Sudanese." With the French President a few weeks ago to offer his condolences over the killing of a French soldier who was participating with the Iraqi forces in a special operation against ISIS .”

Haider explains, "As for the second level, France is currently seeking to heal the rift that occurred recently at the Baghdad conference between Iraq and Kuwait, as a result of the Federal Court's decision to cancel the treaty regulating navigation in Khor Abdullah, which was signed between them. The decision embarrassed the Iraqi government, especially during the presence of the delegation." The Iraqi Foreign Ministers, headed by Al-Sudani, were in New York. The foreign ministers of the Baghdad Conference countries were scheduled to hold a preparatory meeting on the sidelines of their presence in New York, but the Gulf Cooperation Council foreign ministers sent a joint letter apologizing for not attending the meeting, which led to its cancellation. What happened prompted France, which is the sponsor of the Baghdad conference, to take urgent political and diplomatic action to improve the atmosphere among the members to ensure that the conference will be held at the time specified for it .” 

Iraq entered into a crisis with Kuwait, after the Federal Supreme Court issued a decision declaring the unconstitutionality of the Khor Abdullah Agreement signed between the two countries, which prompted the Gulf Cooperation Council to issue a statement rejecting the decision, and they considered it a "historical fallacy." To date, the crisis has not been resolved and has remained suspended .

It is noteworthy that the "Baghdad 2" conference was held on December 20, 2022, in the Jordanian capital, Amman, after a first session held in Baghdad in August 2021, on an Iraqi-French initiative, with the participation of Bahrain, Oman, Egypt, Saudi Arabia, the Emirates, Qatar, Turkey, and Iran .

It is noteworthy that Macron said in his statements after the Baghdad II conference: "When the Jordanian king visited me in Paris, I convinced him of the necessity of holding this conference, because it is in the interest of all of us, and Abdullah took a risk in doing so, and we exchanged many phone calls with the Sudanese Prime Minister, and his acceptance of this conference is a victory, We held a meeting in a small setting, without the Turks and Iranians, and we began to draw up lines of action .”

In addition, Ali Fadlallah, a political analyst close to the coordination framework, believes that "France is one of the most important European Union countries interested in the Iraqi file, given that Iraq is an emerging market in all fields of armament and infrastructure, as well as the size of the natural resources present in it. ”

Fadlallah points out that "Iraq was one of the first countries that moved to strengthen its economic and commercial relations with France, especially since the Sudanese visit to Paris, after the formation of his government, was with the intention of French companies entering the Iraqi market forcefully. ”

He continues, "The French President's visit to Iraq will not be protocol. Rather, it will aim to conclude very important agreements, in addition to holding the Baghdad conference, as France is considered one of the countries supporting him on the security and political levels. " 

 At the beginning of this year, Al-Sudani signed the strategic partnership agreement with French President Emmanuel Macron, which was considered the first of its kind between Baghdad and Paris. It includes 4 chapters, 6 sections, 50 articles, and 64 paragraphs. Among the most prominent of its contents are: strengthening cooperation to confront the dangers of terrorist threats and combating extremism. Forming bilateral committees in the fields of defense and security, following up on the implementation of annual plans for bilateral defense cooperation, and strengthening Iraqi military defense capabilities by developing the necessary skills, facilitating the provision of French-made military equipment, and activating the exchange of information and military intelligence between the two parties .

 It is noteworthy that Iraq concluded many agreements with America, starting with the Strategic Framework Agreement in 2008, which mostly focused on the security aspect and the presence of American forces in Iraq, and also stipulated that the two parties agree to continue their close cooperation in strengthening and sustaining the military, security and political institutions. And democracy in Iraq, according to what they may agree upon, including cooperation in training, equipping and arming security forces, in order to combat local and international terrorism and outlaw groups, at the request of the Iraqi government .

For his part, political analyst Ghaleb Al-Daami says, "France does not have a good relationship with the United States of America, and this is very clear, and therefore the visit of French President Emmanuel Macron to Iraq will not be effective, without the American administration's approval and support for the visit. ”

He points out that "France lost many of its economic positions in Africa, and began heading to Iraq, which welcomed it, but this visit will not be effective and have goals and results without America's support for it," indicating that "France will not get anything from Iraq and will not be able to "With any of the large and important projects, it sought to do so during the government of Adel Abdul Mahdi and the government of Mustafa Al-Kadhimi, and now it is renewing its efforts, but there is no reliance on this visit, due to American dissatisfaction with it. ”

It is noteworthy that France seeks to take a role in Iraq, on the security and economic levels, and this was greatly embodied during the previous government headed by Mustafa Al-Kadhimi, as French President Emmanuel Macron visited Iraq more than once, in addition to the visit of French Armed Forces Minister Florence Parly to Baghdad .

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Tishwash:  America rejects Iraq's request for one billion dollars

Washington rejected Iraq's request to obtain one billion dollars in cash from the Federal Reserve Bank, under the pretext that it conflicts with their efforts to curb Baghdad's use of the dollar and stop illicit cash flows to Iran.

The American newspaper "The Wall Street Journal" reported that since the American invasion of Iraq two decades ago, the United States has provided $10 billion or more annually to Baghdad through bi-monthly cargo flights, and the money is derived from the proceeds of Iraqi oil sales deposited with the Federal Reserve Bank.

American officials said, "Banknotes in the hands of Iraqis have become a lucrative source of illicit dollars that go back to militias and corrupt politicians, as well as to Iran."

By applying for an additional $1 billion shipment, Iraq says it needs the money to help prop up its faltering currency. A senior Iraqi official explained that "last week, the Central Bank of Iraq submitted an official request that the Treasury Ministry is still studying, after Washington rejected the initial request submitted by Iraq last month."

 According to the newspaper, since last November, Washington has prevented 18 Iraqi banks from dealing in dollars, adopting stricter rules for electronic transfers in dollars from its banks.

 Treasury officials told Iraqi central bank governors that sending a large additional shipment conflicts with Washington's goal of limiting Iraq's use of US banknotes, Iraqi officials said.

American officials spoke of conclusive evidence that some of the dollars that were arriving in Iraq were smuggled in cash over the years to Iran, as well as to Turkey, Lebanon, Syria and Jordan.

 A Treasury Department spokeswoman said regarding the Iraqi request: “The United States continues to support Iraq with dollar banknotes and has not restricted its access to ordinary Iraqis and businesses,” indicating continued work with the Central Bank of Iraq.   Link

Mot:  .. Every Year!!! -- fer Sure!!! – LOL

Mot:  ... New Lessons Opening Every Week!!! -- Hurry!!!! 

Iraq Economic News and Points to Ponder Friday AM 10-6-23

Iraq Economic News and Points to Ponder Friday AM 10-6-23

"A Call For An Emergency Plan"... The Dollar In Iraq Is Entering A Dangerous Turning Point And An Unprecedented American Decision

Baghdad Today – Baghdad   Professor of International Economics, Nawar Al-Saadi, said on Thursday (October 5, 2023), that the US Federal Bank refused to provide the Iraqi Central Bank with one billion dollars in cash, “a dangerous precedent that must be taken seriously by the Iraqi government.”

Al-Saadi said in a post on his Facebook page, “Enough of the drumming by the economists who drum on the channels day and night and claim that the dinar is strong and that there are strict measures.”

He added, "Now the trust between the Iraqi Central Bank and the (American) Federal Reserve has deteriorated. The Americans cannot tolerate procrastination and prevarication any longer."

Al-Saadi stressed, "An emergency plan and comprehensive reforms must now be announced in cooperation with the Ministry of Interior to control speculators in the market, control borders, and prevent currency smuggling, otherwise undesirable consequences will happen."

"A call for an emergency plan"... The dollar in Iraq is entering a dangerous turning point   PIC

One of the advisors to the government of Muhammad Shiaa Al-Sudani had previously revealed that “the United States of America warned the Sudanese government eight times, publicly and clearly, against the continued sale of the dollar in large quantities through the currency auction window of the Central Bank.”

He said that the American side "has provided ample evidence that the majority of buyers of the dollar are smuggling it to Iran, Syria and Lebanon," explaining that "this sale led to the monopoly of the dollar among merchants, and a decline in its presence in local and private banks."

Last February, the Central Bank of Iraq decided to raise the value of the official exchange rate of the dinar against the dollar by 10 percent in a measure aimed at reducing the devaluation of the currency that accompanied the adoption of more stringent regulations regarding financial transfers outside the country.

The government then agreed to the Central Bank’s proposal to raise the value of the exchange rate from about 1,470 dinars to 1,300 dinars per dollar, which had a clear impact on the exchange market at that time by reducing prices that reached the level of 1,700 dinars in the parallel market.

For several months, the value of the Iraqi dinar has fluctuated sharply, losing on some days 15 percent of its value against the dollar, which sparked sporadic demonstrations by Iraqis worried about losing their purchasing power.

What made things even more unclear was after Reuters quoted the Director General of the Investment and Transfer Department at the Central Bank of Iraq, Mazen Ahmed, as saying that Iraq would ban cash withdrawals and transactions in US dollars starting from the beginning of next year and not immediately, a step that was interpreted by some experts as a “delay.” “For depositors if they want to withdraw their money.

However, the central bank official quickly issued a clarification regarding his statements to Reuters, saying that they “included inaccurate journalistic formulations.”

He said in a statement published on the Central Bank of Iraq's Facebook page, "The Central Bank guarantees dollar deposits, and the citizen who deposited his money in dollars with any Iraqi bank previously or by 2024 has an inherent right to receive these amounts in cash and in dollars."

He pointed out that the date of next January 1 “will be the beginning of stopping cash withdrawals for incoming remittances only from outside Iraq, according to certain arrangements that guarantee the sustainability of business and does not in any way include citizens’ balances in dollars.”

Independent MP in Parliament Hadi Al-Salami says, “The current failure in the dollar issue is borne by all the Iraqi governments that have ruled the country since 2003 until now. The government of Muhammad Shiaa Al-Sudani pledged to solve the crisis by establishing mechanisms to prevent the smuggling of hard currency, but it did not succeed in doing so.” This file."

He pointed out, "Reforming the banking system and the dollar crisis requires controlling the currency auction, which is still selling large amounts of dollars, and we do not know where it is going," noting that "the problem is big in Iraq, and we are facing huge challenges that may lead to a crack in the current system." Especially since the United States of America has warned many against smuggling the dollar to neighboring countries.”    Source: Baghdad Al-Youm + Agencies   LINK

The Dollar Crisis Is Worsening In Iraq: Quarrels Within Private Banks

Posted On2023-10-06 By Sotaliraq    Iraqis who have accounts in private banks complain of the inability to receive their money transfers that reach them from abroad in hard currency, even though they have contracts for their salaries, official books, and documents related to their companies and interests, while banks refrain from delivering dollars to Iraqis under the pretext of a government decision prohibiting the circulation of the dollar and dealing in the dinar.

Iraqi only, what observers consider the beginning of an economic crisis and a new global isolation for Iraq.

The Iraqi Council of Ministers issued a decision, last April, obligating all companies and banks to use the dinar only in their transactions, including the salaries of employees of foreign companies, which were in dollars and paid in dinars, and the official rate is 1,320 dinars, with the exception of diplomatic missions, which are paid in dollars, and in turn the bank The Iraqi Central Bank circulated this decision to the Iraqi banks to adhere to it, which implemented the decision and forced companies to receive all their incoming transfers in dinars and at the official rate, knowing that the exchange rate of the dollar in the markets is close to 1,600 Iraqi dinars.

Representative and member of the “Al-Basas” coalition, Hussein Arab, published a video clip on his account on the “X” platform (formerly Twitter), showing Iraqis angry that they had not received sums of money allocated to them in dollars, but the banks were refraining from giving them dollars.

He wrote: “The acquisition by a non-local private bank of the amounts of financial transfers via the electronic dollar platform, estimated at 70% of Iraq’s transfers, is abnormal and disastrous. We will have a clear position on manipulating the fate of the country’s economy. We will not remain silent.”

For his part, the independent representative in the Iraqi parliament, Hadi Al-Salami, said, “The current failure in the US dollar issue is borne by all the Iraqi governments that have ruled the country since 2003 until now, and the government of Muhammad Shiaa Al-Sudani has pledged to solve the crisis by establishing mechanisms to prevent currency smuggling.” It was difficult, but it did not succeed in this file.”

Al-Salami added, in an interview with Al-Araby Al-Jadeed, that “reforming the banking system and the dollar crisis requires controlling the currency auction, which is still selling large quantities of dollars, and we do not know where it goes,” noting that “the problem is big in Iraq, and we are facing challenges.” Huge amounts that may lead to a crack in the current system, especially since the United States of America has often warned against smuggling the dollar to neighboring countries.”

According to an advisor to the Sudanese government, “The United States of America warned the Sudanese government eight times, publicly and clearly, against the continued sale of the dollar in large quantities through the currency auction window of the Central Bank, and it provided ample evidence that the majority of buyers of the dollar are smuggling it to Iran, Syria, and Lebanon.”

 He explained to Al-Araby Al-Jadeed that “this sale led to the monopoly of the dollar among merchants, and its presence in local and private banks declined.”

Reuters also quoted the Director General of Investment and Transfers at the Central Bank of Iraq, Mazen Ahmed, as saying that “Iraq will ban cash withdrawals and transactions in US dollars as of January 2024,” considering that “the ban is the latest campaign to limit the misuse of Iraq’s currency reserves.” Hard currency in financial crimes and evading US sanctions on Iran.”

But the researcher in economic affairs in Iraq, Wissam al-Jubouri, pointed out that “the government’s continued failure to deal with the dollar file, and depriving Iraqis of receiving their salaries and managing their economic and commercial affairs, is pushing them to leave Iraq, and will lead to discouraging financial transfers from abroad in the future.” .

He confirmed to Al-Araby Al-Jadeed that “all recent government decisions are in line with smugglers, and do not serve the Iraqi economy. Rather, they lead to weak financial dealings between Iraq and the countries of the region and the world.”

Earlier, American officials confirmed that Washington had imposed sanctions on 14 Iraqi banks by preventing them from conducting transactions in dollars, as part of a comprehensive campaign to combat the leakage of American currency to Iran, considering that banks and exchange companies were able to achieve huge profits from their transactions in dollars, through the use of operations. Fraudulent import.

The US sanctions included the banks “Al-Mashashar, Al-Qartas, Al-Tayef, Elaf, and Erbil, in addition to the International Islamic Bank, Trans-Iraq Bank, Mosul, Al-Rajeh, Sumer, Al-Thiqah, Or, Al-Tayef, Al-Alam, and Zain Iraq,” and according to Iraqi sources, these banks are affiliated with religious parties, militias, and armed factions loyal to Iran.

Over the past years, an average of $170 million was sold daily through what is known as the dollar auction, in which merchants, banks, and companies participate, without monitoring the end of that money, which is classified as import trade for the local market in most cases, or foreign transfers, knowing that The actual need for dollars in the markets and among merchants does not exceed $50 million per day, according to experts.   LINK

Advisor To Sudanese: Al-Faw Port Will Operate At Full Capacity During 2025

Reconstruction and building   Economy News – Baghdad    Advisor to the Prime Minister for Transport Affairs, Nasser Al-Asadi, confirmed that Al-Faw Port will operate at full capacity during the year 2025, while he indicated the development of a metro plan that would cover 80% of Baghdad’s area.

Al-Asadi said: “We have reached 80 percent completion of Al-Faw Port, and the port will operate at full capacity during 2025.”

He added, "A general strategy for operating Al-Faw Port will be developed soon, as we began preparing for the port's operating phase this week."

In a separate context, Al-Asadi said: “We have developed a metro plan that covers 80% of Baghdad’s area.”    Views 61 10/06/2023 - https://economy-news.net/content.php?id=36817

Iraq And Turkmenistan Are Discussing Signing A Memorandum Of Understanding To Supply Gas

Energy   Economy News – Baghdad   On Thursday, the Minister of Electricity, Ziyad Ali Fadel, received the Minister of State of Turkmenistan for Gas Affairs, Babayev, at Baghdad International Airport, and they discussed signing a bilateral memorandum.

The ministry stated in a statement, "Minister of Electricity Ziyad Ali Fadel received Turkmenistan's Minister of State for Gas Affairs, Babayev, and his accompanying delegation, at Baghdad International Airport."

She added, "The visit is official to discuss prospects for joint cooperation between the two countries, and to prepare for signing a memorandum of understanding to supply gas to power stations."

Views 82 10/05/2023 - https://economy-news.net/content.php?id=36815

Ceyhan Oil Line.. Türkiye Seeks To Force Iraq To Concede, While The Region Stands By And Watches

Information / Baghdad... A member of the anti-Turkey Tafakri Azadi movement, Luqman Hassan, confirmed that Turkey is seeking to drag Iraq towards giving up its lawsuits against it, especially with regard to oil export funds and the fine imposed on it by the Paris court.

Hassan told Al-Maalouma, “The Kurdistan Democratic Party and the leaders in this party do not lack anything in terms of life related to power, economy, and security, and therefore their situation is normal, whether by exporting oil through Turkey or continuing to stop it.”

He added, "Turkey is seeking to pump oil at the expense of its opponents, represented by the Iraqi government and the Shiite parties, by responding to its demands to waive the Paris court case and the fine imposed on it, amounting to one billion and 500 million dollars."

He stated that "Turkey is seeking to drag Iraq towards giving up its calls towards it, especially since there are calls after 2018 until 2023, and the Iraqi government has the right to file a lawsuit to demand Turkey's funds for exports in this period and before." LINK

Points to Ponder on the Power of Words:

Half the world is composed of people who have something to say and can't, and the other half who have nothing to say and keep on saying it -- Robert Frost

It is unwise to be too sure of one's own wisdom -- It is healthy to be reminded that the strongest might weaken and the wisest might err - Mahatma Gandhi

A man cannot speak but he judges and reveals himself -- With his will or against his will - he draws his portrait to the eye of others by every word -- Every opinion reacts on him who utters it -- Emerson

MilitiaMan: IRAQ CENTRAL BANK - IRAQ DINAR - DE-DOLLARIZATION - INTERNATIONAL

IRAQ CENTRAL BANK - IRAQ DINAR - DE-DOLLARIZATION - INTERNATIONAL

MilitiaMan and Crew:  10-5-2023

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=Qo2DCKgWL3I

Goldilocks' Comments and Global Economic News Thursday Afternoon 10-5-23

Goldilocks' Comments and Global Economic News Thursday Afternoon 10-5-23

Good afternoon Dinar Recaps,

The United Nations is essentially recommending to central banks worldwide to reconsider the 2% inflation target to prevent a full-blown recession.

The script continues to get better by the day.

What a time to be alive.

Read: https://x.com/goldtelegraph_/status/1709709628442075591?s=46

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Dubai’s move to oversee stablecoins should ‘bring certainty’ to regulatory grey area

Pinsent Masons Link
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CBDC lays foundation for new global monetary system: French central bank

Coin Telegraph Link

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"Project Atlas combines on- and off-chain information to create a data platform that allows policymakers and central banks to analyse international flows of cryptoassets."

This is a Bank of International Settlements project that will analyze Global Crypto Flows between two International entities.

It will provide a "proof of concept" or a testing of financial potential capable of giving authentication to move forward in a trade.      

© Goldilocks

BIS Link

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"UBS Asset Management Launches Tokenised VCC Fund Pilot in Singapore"

VCC is a Venture Capital Corporation that invests in emerging and startup companies.

These Quantum Technologies are beginning to merge with one another as the Protocol 20 upgrade continues to bring these companies together.

This is one of many companies under the umbrella of Project Guardian orchestrating the use of tokenized assets.

© Goldilocks

Regulation Asia Link

https://www.acra.gov.sg/business-entities/variable-capital-companies

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Singapore, 5 October 2023… The Bank for International Settlements (BIS) and central bank partners today launched Project Mandala, which explores the feasibility of encoding jurisdiction-specific policy and regulatory requirements into a common protocol for cross-border use cases such as foreign direct investment, borrowing and payments.

https://twitter.com/MAS_sg/status/1709831027693424808?t=zyvqec06HQ0DMwBq1Xe4vA&s=09

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Banking Announcement:

Basel Committee on Banking Supervision recently gave a good report on the Basel 3 implementation taking place around the world.

"The Basel III implementation dashboard shows progress by Singapore, South Korea, Japan, Australia, Indonesia and India."

© Goldilocks

https://www.regulationasia.com/bcbs-reports-good-progress-on-basel-iii-implementation/

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"Functions of Hong Kong Exchanges and Clearing Limited (HKEx)

The company is a global platform for raising capital for issuers based in Hong Kong, throughout China, and around the world. Its main services include listing, trading, clearing (https://www.investopedia.com/terms/c/clearing.asp), market data, reference prices, and connectivity."

Banking Announcement:

On October 9th, 2023, the HKEX Settlement acceleration platform known as HKEX Synapse will launch an improved version of their post-trade efficiencies.

© Goldilocks

Regulation Asia Link

Investopedia Link

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Chinese payment service aiming to enter Russian market – RBK

NewsRescue Link

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There is a clear shift from program developments in the new digital economy to digital payment systems being interfaced with one another. (Protocol 20) 

More articles are starting to come out on Basel 3 implementation as well around the world. These new Capital Requirements will provide our tokenized assets with real support and real values in the commodity sector of the markets.

It is important to note that we are witnessing more involvement with the BIS, IMF, and the World Bank in these new projects. These entities are the great influencers that will bring about the Bretton Woods 3 agreement.

© Goldilocks

https://dashboard.stellar.org/

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World Bank warns of sluggish growth, high inflation - Business

https://www.dawn.com/news/1779253

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IRAQI NEWS BREAKING NEWS CBI ANNOUNCEMENT!

We talked about the Iraqi Dinar going International about a week or two ago.

January 1st, 2024 is when all of this begins. Will it be a reinstatement or an RV? We are about to find out.

It is starting to be understood how important this move is.

© Goldilocks

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

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👆 Not calling it as an RV date, but the changes sure do look good for something to begin happening.

© Goldilocks

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Department of Investments and Foreign Transfers, Mazen Sabah Ahmed, issued a clarification regarding the statements attributed to him in Reuters, saying that they included journalistic formulations that were reported by the agency in an inaccurate form. Ahmed confirmed: 
 
The Central Bank guarantees dollar deposits, and the citizen who deposited his money in dollars with any Iraqi bank previously or by the year 2024 has an inherent right to receive these amounts in cash and in US dollars.

There was no mention in the press interview of expectations that the exchange rate would reach 1,700, and that the Central Bank has its own tools that it uses to reduce the difference between the two prices, and there are no indications that the exchange rate in the parallel market will reach this level. On the contrary, there are measures being taken that will contribute to reducing the difference.

The reforms undertaken by the Central Bank of Iraq aim to achieve compliance of the bank and the banking system in general with international compliance standards, and to prevent the dollar from reaching parties prohibited from obtaining it or speculating with it.

The announcement that the date of 1/1/2024 will be the beginning of stopping cash withdrawals includes transfers received only from outside Iraq according to certain arrangements that guarantee the sustainability of the business and does not in any way include citizens’ balances in US dollars.
 
Central Bank of Iraq

https://cbi.iq/news/view/2432

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Iraq Economic News and Points to Ponder Thursday Evening 10-5-23

Iraq Economic News and Points to Ponder Thursday Evening 10-5-23

Tlm724 Administrator Bondlady’s Corner

Parliamentary Finance" Warns Of A "Dangerous Project" Between The Iraqi Central Bank And The US

Economy   breaking   Parliamentary Finance   Central Bank of Iraq   US Federal Reserve   2023-10-05 Shafaq News/ On Thursday, a member of the Parliamentary Finance Committee criticized the policy of the Central Bank of Iraq, while pointing out that the Central Bank had lost control of the parallel market.

He referred to a project for the Central Bank with the Federal Reserve, which the Emir described as “dangerous.”

Committee member Thamer Dhiban told Shafaq News Agency:

“There is no clear economic vision and policy for the central bank through which it can control the parallel market,” pointing out that “the parallel market is unofficial and illegal, and this causes obstacles and a lack of facilities by the central bank for some merchants, contractors, merchants, and investors, which prompted them to go.” To the parallel market and buy the dollar.”  He added,

"Despite the measures taken by the government and security services and the pursuit of currency disputers and dollar monopolists, they were of no use in controlling the market.

There is also a great demand for the dollar, and this demand contributes to the rise in the exchange rate."  He pointed out that "there is a project at the Central Bank with the US Federal Bank, and this project is very dangerous.

If the Central Bank proceeds with it at the beginning of next year, it will be dangerous, and there must be real financial and economic calculations, with what the bank's management is doing to prevent market instability and will cause the dollar to rise." And an economic crisis in the dollar.

He stated that the nature of the project between the Central Bank and the US Federal Bank is not to deal in dollars during the year 2024, and dealing in dollars will be limited to official transactions with some banks determined by the Central Bank.

https://shafaq.com/ar/اقتصـاد/المالية-النيابية-تحذر-من-مشروع-خطير-بين-المركزي-العراقي-والفيدرالي-ال-مريكي

Clarification From The Central Bank Of Iraq

October 05, 2023       The Director General of the Department of Investments and Foreign Transfers, Mazen Sabah Ahmed,  issued a clarification regarding the statements attributed to him in Reuters, saying that they included journalistic formulations that were reported by the agency in an inaccurate form. Ahmed confirmed:

   The Central Bank guarantees dollar deposits, and the citizen who deposited his money in dollars with any Iraqi bank previously or by the year 2024 has an inherent right to receive these amounts in cash and in US dollars.

There was no mention in the press interview of expectations that the exchange rate would reach 1,700, and that the Central Bank has its own tools that it uses to reduce the difference between the two prices, and there are no indications that the exchange rate in the parallel market will reach this level.

On the contrary, there are measures being taken that will contribute to reducing the difference..

The reforms undertaken by the Central Bank of Iraq aim to achieve compliance of the bank and the banking system in general with international compliance standards, and to prevent the dollar from reaching parties prohibited from obtaining it or speculating with it.

The announcement that the date of 1/1/2024 will be the beginning of stopping cash withdrawals includes transfers received only from outside Iraq according to certain arrangements that guarantee the sustainability of the business and does not in any way include citizens’ balances in US dollars.

 Central Bank of Iraq   https://cbi.iq/news/view/2432

The Parliamentary Oil And Gas Committee Seeks To Reconsider The Legislation Of The Ministry Of Oil

Energy   Economy News _ Baghdad  The Parliamentary Oil and Gas Committee seeks to reconsider the legislation of the Ministry of Oil due to the importance of the sector and the incompatibility of its previous laws with the development taking place in it, including the law regulating the work of the Ministry, and the investment and refinement of crude oil.

A member of the Parliamentary Oil and Gas Committee, Bassem Ngheimesh, said in an interview with “Al-Sabah” followed by “Al-Iqtisad News” that a number of subcommittees were formed from the Oil Committee, including a committee to follow up and review oil legislation, noting that the legislation of the Ministry of Oil is old and dates back to the 1970s and did not It is compatible with the development taking place in the sector.

He pointed out that the most important of these laws is regulating the work of the Ministry of Oil, in addition to the Crude Oil Investment and Liquidation Law, indicating that the committee called for a review of the internal regulations and instructions that need to be amended and urged the companies concerned to amend their internal regulations in line with current developments in the oil sector to raise the level of her job.

Ngheimesh pointed out that the committee will monitor the regulations and instructions, stressing the need for them to be approved by the Ministry of Oil.

He added that the committee cannot amend the oil laws without receiving them from the executive authority, adding that the committee urged the ministry to amend these old laws, reconsider them and submit them to the Council of Ministers for approval and then refer them to Parliament.

Views 80   10/05/2023  https://economy-news.net/content.php?id=36805

After Sharp Declines...Oil Is Catching Its Breath After The OPEC+ Decision

Economy | 11:59 - 05/10/2023   Baghdad - Mawazine News   Oil prices rose in early trading on Thursday, compensating for part of the large losses incurred in the previous session, after the OPEC+ Joint Ministerial Monitoring Committee maintained oil production cuts, meaning a continued supply shortage amid fears of an imminent decline in global economic growth.

Price movement:

Brent crude futures rose 61 cents to $86.42, while US West Texas Intermediate crude rose 50 cents to $84.75 by 0422 GMT.

Oil prices fell by more than five dollars at settlement yesterday, Wednesday, amid focus on a gloomier macroeconomic outlook and declining demand for fuel, following the meeting of the OPEC+ alliance committee, which includes the Organization of the Petroleum Exporting Countries (OPEC) and other allies led by Russia.

The committee did not approve any changes to the coalition’s oil production policy, and Saudi Arabia said it would continue a voluntary reduction of one million barrels per day until the end of 2023, while Russia would maintain a voluntary reduction in exports of 300,000 barrels per day until the end of December.

“We still expect the market to experience shortages in the fourth quarter, and lower prices reduce the likelihood of OPEC easing supply restrictions,” National Australia Bank analysts said in a note.

https://www.mawazin.net/Details.aspx?jimare=235916

The Bank Of England Pledges To Support The Efforts Of The Central Bank Of Iraq To Achieve Financial Stability In Iraq

Money  and business  Economy News – Baghdad  The Bank of England pledged to strengthen cooperation with the Central Bank of Iraq and support its continued efforts for economic growth and financial stability in Iraq.

The Iraqi embassy in London stated in a statement, “Deputy Governor of the Bank of England, Dave Ramson, received in the bank building his Iraqi counterpart, Deputy Governor of the Central Bank of Iraq, Ammar Hamad, and in the presence of representatives of the Iraqi embassy, ​​Counselor Ahmed Muhammad Khaled and First Secretary Ali Al-Khair Allah, and from the British side, Ben Norman is Deputy Executive Director of the Center for Central Banking Studies (CCBS) at the Bank of England, and Mohammed Al-Masari is Development Policy Advisor to the UK Embassy in Baghdad.

 statement added, “During the meeting, the following was discussed:

- Deposits of the Central Bank of Iraq, where the Deputy Governor of the Bank, Ammar Hamad, provided valuable insights into the size of the Central Bank of Iraq’s deposits with the Bank of England, stressing the importance of this financial cooperation.”

- Building the capabilities of Central Bank employees: The two sides stressed the importance of strengthening the capabilities of the employees of the Central Bank of Iraq, stressing their commitment to enhancing the skills and expertise of employees in the Central Bank.

- British banks in Iraq: The meeting also focused on encouraging British banks to participate more in Iraq, with the aim of strengthening financial ties between the two countries.

According to the statement, Ramsen stressed “the historical relationship between the two institutions and the long-term relations between the United Kingdom and Iraq,” stressing “the Bank of England’s commitment to strengthening this partnership.”

The statement continued, "This meeting represents an important step towards strengthening economic and financial relations between the United Kingdom and Iraq. The Bank of England pledged to strengthen cooperation with the Central Bank of Iraq and support its continued efforts for economic growth and financial stability in Iraq."  Views 83 10/05/2023 - https://economy-news.net/content.php?id=36808

Baghdad Will Host An International Investment Forum At The End Of 2023

Economy     Baghdad     International forum  2023-10-05 04:37  Shafaq News/ An international investment forum is scheduled to be held in the Iraqi capital, Baghdad, at the end of this year.

This was announced by the Chairman of the National Investment Authority, Haider Muhammad Makiya, during a meeting of the Authority’s advanced staff.

A statement issued by the authority quoted its president as saying:

The authority is preparing the logistics and technical supplies for the International Investment Forum in Baghdad, scheduled to be held next December, under the auspices of Prime Minister Muhammad Shiaa Al-Sudani, and in the presence of official international and local officials.

He explained that the forum will be an important factor in the contexts of economic integration, sustainable development and bridging relations between Iraq and the countries of the region and the world.  https://shafaq.com/ar/اقتصـاد/بغداد-تحتضن-ملتقى-دوليا-لل-ستثمار-نهاية-2023

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

https://www.bondladyscorner.com/ 

Points to Ponder on Dreaming & Believing:

Expect your every need to be met, Expect the answer to every problem, Expect abundance on every level, Expect to grow spiritually - Ellen Caddy - The Dawn of Change 

Expect the best: Convert problems into opportunities; Be dissatisfied with the status quo: Focus on where you want to go, instead of where you're coming from; and most importantly, Decide to be happy, knowing it's an attitude, a habit gained from daily practice, and not a result or payoff - Dennis Waitley - The Winners Edge

When you are inspired by some great purpose - some extraordinary project - all your thoughts break their bonds - your mind transcends limitations - your consciousness expands in every direction -- and you find yourself in a new, great and wonderful world -- Dormant forces, faculties and talents become alive, and you discover yourself to be a greater person by far than you ever dreamed yourself to be - Patanjali

Trials are but lessons that you failed to learn presented once again - so where you made a faulty choice before you can now make a better one - and thus escape all pain that what you chose before has brought to you - A Course in Miracles

Iraq Economic News and Points to Ponder Thursday Afternoon 10-5-23

Iraq Economic News and Points to Ponder Thursday Afternoon 10-5-23

Tlm724 Administrator Bondlady’s Corner

Iraq Stops All Cash Withdrawals In Dollars In Early 2024

Economy | 02:28 - 05/10/2023  Baghdad - Mawazine News  An official at the Central Bank of Iraq revealed to Reuters that Iraq will end all cash withdrawals in dollars by January 1, 2024, explaining that deposits in dollars made before the end of 2023 will remain eligible for withdrawal in dollars in 2024. He expected the price to rise. The dinar was exchanged for the dollar, but their debt had no problem reaching 1,700 to the dollar.

He added: “United Nations agencies and diplomatic missions may continue to be allowed to withdraw cash in dollars.”

He stressed that the bank provides dollars at the official rate for all legitimate trade and travel activities, considering that the dollar shortage in some local banks is linked to the high demand for it and the dollar loans provided by the banks.  He pointed out that Iraq's foreign currency reserves amount to about 120 billion dollars.   https://www.mawazin.net/Details.aspx?jimare=235929

Iraq Prohibits Cash Withdrawals In Dollars As Of The Beginning Of 2024
Time: 10/05/2023 14:18:23 Read: 3,692 times   {Economic: Al-Furat News} A senior official in the Central Bank of Iraq said that the country will ban cash withdrawals and transactions in US dollars as of January 1, 2024, in the latest effort to limit the misuse of the country’s hard currency reserves in financial crimes.

The Director General of the Investment and Transfer Department at the Central Bank of Iraq, Mazen Ahmed, told Reuters that the aim of the step is to stop the illegal use of about 50 percent of the $10 billion cash amount that Iraq imports annually from the Federal Reserve Bank in New York.

This step comes as part of a broader campaign to stop the economy's dependence on the dollar after residents began to prefer the US currency over the dinar.

Ahmed said that people who deposit dollars in banks before the end of 2023 will be able to withdraw money in dollars in 2024.

But dollars deposited in 2024 can only be withdrawn in local currency at the official rate of 1,320 dinars to the dollar.   LINK

Government Source: The Financial Situation In Iraq Is Good And There Is No Shortage Of Dollars In Cash

Thursday 05, October 2023 16:11 | Economical Number of readings: 408   Baghdad / NINA / A government source announced that the financial situation in Iraq is good and there is no shortage of the monetary supply of dollars, especially indicating that Iraq received today a shipment amounting to 500 million dollars.    https://ninanews.com/Website/News/Details?key=1081651

The Central Bank Denies Expectations Attributed To It That The Exchange Rate Will Reach 170 Thousand Dinars

Economy |  05/10/2023   Baghdad - Mawazine News   Today, Thursday, the Central Bank denied expectations attributed to it that the exchange rate would reach 170 thousand dinars.

The Director General of the Department of Investments and Foreign Transfers, Mazen Sabah Ahmed, said in a statement, a copy of which Mawazine News received, that “the statements attributed to him in Reuters “It included press formulations reported by the agency in an inaccurate form.”

Ahmed stressed, “The Central Bank guarantees dollar deposits, and the citizen who deposited his money in dollars with any Iraqi bank previously or by 2024 has an inherent right to receive these amounts in cash and in US dollars.”

He added, "There was no mention in the press interview of expectations that the exchange rate would reach 1,700, and that the Central Bank has its tools that it uses to reduce the difference between the two prices, and there are no indications that the exchange rate in the parallel market will reach this level. On the contrary, there are measures being taken." "It will contribute to reducing the difference."

He continued, "The reforms undertaken by the Central Bank of Iraq aim to achieve compliance of the bank and the banking system in general with international compliance standards, and to prevent the dollar from reaching parties prohibited from obtaining it or speculating with it."

He continued, “The announcement that the date of 1/1/2024 will be the beginning of stopping cash withdrawals includes transfers received only from outside Iraq according to certain arrangements that guarantee business sustainability and does not include in any way citizens’ balances in US dollars.” Ended    https://www.mawazin.net/Details.aspx?jimare=235942

The Dollar Exchange Rate Exceeds The Barrier Of 157 Thousand Dinars In Baghdad

Time: 10/05/2023 18:50:03 Read: 923 times   {Economic: Al-Furat News} The main stock market in Baghdad was closed this evening, Wednesday, due to the rise in dollar prices. 

The prices of the dollar reached 157,250 dinars against 100 dollars with the closure of the Al-Kifah and Al-Harithiya stock exchanges, while the dollar prices this morning were 156,750 dinars against 100 dollars.

Until the selling prices in the exchange shops in the local markets in Baghdad rose, as the selling price reached 158,000 Iraqi dinars for 100 dollars, while the purchasing price reached 156,000 dinars for 100 dollars.   LINK

Iraq Market: More Than 5 Billion Shares Were Traded, With A Value Exceeding 6 Billion Within A Week

Money  and business   Economy News – Baghdad  Today, Thursday, the Iraq Stock Exchange announced the weekly trading indicators.

The Iraq Stock Exchange stated in a statement that it organized “during the first week of October 2023, four trading sessions from Sunday (October 1) to Thursday (October 5), as the trading session was not organized for Tuesday (October 3).” “Because it falls on an official holiday.”

The statement added, “The following indicators were achieved during this week:

1. The number of shares traded during this week amounted to more than (5) billion shares.

2. The value of shares traded this week amounted to more than (6) billion dinars.

3. The trading index closed. In the market for the first session of the week at (834.51) points, while the index closed at the end of the week at (829.39) points, achieving a decrease of (0.62%) from its close at the first session. 4. During the week (1939) a purchase and sale contract for company shares was executed. listed on the market. Views 47  10/05/2023 - https://economy-news.net/content.php?id=36809

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

https://www.bondladyscorner.com/ 

Points to Ponder From The Seat of The Soul By Gary Zukav:

You create your  reality with your intentions  
An intention is a quality of consciousness that you bring to an action

At each moment you choose the intentions that will shape your experiences and those things upon which you will focus your attention -- If you choose unconsciously, you evolve unconsciously -- If you choose consciously, you evolve consciously  

Every action, thought, and feeling is motivated by an intention -- and that intention is a cause that exists as one with an effect -- If  we participate in the cause - it is not possible for us not to participate in the effect -- In this most profound way - we are held responsible for our every action , thought, and feeling, which is to say, for our every intention 

From the perception of the five sensory human, intentions have no effects, the effects of actions are physical, and not all actions affect us or others -- From the perception of the multi sensory human -- the intention behind an action determines its effects, every intention affects both us and others -- and the  effects of intentions extend far beyond the physical  world 

Feel your intentions in your heart -- Feel not what your mind tells you, but what your heart tells you 

Some Thursday News from Iraq Posted by Tishwash at TNT 10-5-2023

TNT:

Tishwash:  “The dollar is out of control.” What will happen in Iraq’s banks on Sunday?

 Rueters

An informed banking source in Baghdad expected that next Sunday will be an “unusual day” in all Iraqi banks, and may witness unprecedented overcrowding and crowding at cash withdrawal windows, after a dramatic statement by an official from the Central Bank to Reuters, that withdrawing the dollar in cash will stop as of Early next year, in an effort by the government to limit transactions in dollars to the maximum extent, coinciding with approximately one year since the start of American strictness in transferring money to Iraq.

The banking source in an interview:

The statement of the remittance official at the Central Bank led to a crisis within the bank, and we expect this to affect bank customers.

I expect that customers will rush to the banks on Sunday morning to withdraw their balances in dollars, because things have gotten out of control, especially since the Treasury Department and the US Federal Reserve have not agreed to deliver the dollar in cash to Iraq since last February.

The most affected will be those who depend on periodic external transfers that reach them through Iraqi banks, such as salaries, rents, etc., and it is better for them to look for other banks outside Iraq to receive their money.  link

Tishwash:  Floating the dinar.. Specialist: A disastrous step and monetary policy must be reconsidered

Amid the failure of the Central Bank of Iraq to control the exchange rate of the dinar against the dollar and the continued smuggling of hard currency out of the country, calls are appearing here and there to float the Iraqi dinar.

In this regard, Hammam Al-Shamaa, professor of economics at the University of Baghdad, says, “If the Iraqi dinar is floated, it is possible that the price of one dollar will reach more than 10 thousand dinars, and this price will not serve the Iraqi economy and will burden the citizens.”

Al-Shamaa added in a press interview seen by “Taqaddam” that “Iraq is considered one of the ranks of the Gulf countries as it is an oil country and has great potential for hard currency, and therefore flotation does not serve the Iraqi economy,” indicating that “flotation serves the economies of poor countries.”

Al-Shamaa warned that “taking such a step will lead to the death of the Iraqi people from hunger, especially since Iraq is a country that, despite its enormous natural wealth, is an unproductive country,” pointing out that “the agricultural sector is declining and the industry is backward, as there are no productive sectors that can provide food.” “For the people.”

He pointed out that “the government has begun to take measures that lead to an increase in the dinar’s exchange rate, including delaying government spending,” calling for “a reconsideration of monetary policy in Iraq and assigning the task to those who lead it efficiently, professionally, and with knowledge, and not by bidding and searching for wealth creation and fundraising.  link

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

Tishwash:  this was in Iraq's news

China and Brazil carry out a trade transaction in the national currency of both countries

For the first time in their history, China and Brazil completed a trade transaction in the national currency of both countries.

The commercial operation was the export of 43 boxes of pulp from El Dorado Brazil, which were shipped in August from the Brazilian port of Santos to the port of Qingdao in China. The financial transactions continued throughout the following month and ended in Brazilian currency on September 28.

The company had agreed for a Chinese import company to adopt the yuan as its nominal contract currency in August and identified the Brazilian central bank as a recipient bank to test the transaction settlement process. The bank received a deferred payment letter of credit in Chinese renminbi (yuan) issued by the importing company, and then notified the Brazilian company after completing the review of shipping documents and letters of credit. This trade transaction came in the wake of the signing of a memorandum of understanding on cooperation between the two governments to enhance trade in the local currency of both countries in April.

During his participation in the plenary session of the International Financial Security Olympiad, Russian President Vladimir Putin confirmed that the world is gradually getting rid of financial slavery to the West. He stressed the necessity of developing a new financial transactions system suitable for a multipolar world. link   

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Tishwash:  Putin: The Sudanese visit to Moscow will be fruitful and come at the right time

Russian President Vladimir Putin welcomed the upcoming visit of Prime Minister Muhammad Shiaa Al-Sudani to Russia.

Putin said in a press statement that he would discuss with the Sudanese "security in the region and inside Iraq," stressing his "confidence that the visit will be fruitful and come at the right time."

A government source and another informed person told Reuters yesterday that the Sudanese will go to Moscow to meet with Russian President Vladimir Putin on October 10 and 11 {next week}.

The government source stated that Al-Sudani will leave Iraq on October 9 and will meet with Putin on October 10, and they will hold working meetings on October 11.

Local media said that Al-Sudani will go to Moscow to discuss cooperation between the two countries in the economic and political fields.  link

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

Tishwash:  The Bank of England pledges to support the efforts of the Central Bank of Iraq to achieve financial stability in Iraq

The Bank of England pledged to strengthen cooperation with the Central Bank of Iraq and support its continued efforts for economic growth and financial stability in Iraq.

The Iraqi embassy in London stated in a statement, “Deputy Governor of the Bank of England, Dave Ramsen, received in the bank building his Iraqi counterpart, Deputy Governor of the Central Bank of Iraq, Ammar Hamad, and in the presence of representatives of the Iraqi embassy, ​​Counselor Ahmed Muhammad Khaled and First Secretary Ali Al-Khair Allah, and from the British side, Ben Norman is Deputy Executive Director of the Center for Central Banking Studies (CCBS) at the Bank of England, and Mohammed Al-Masari is Development Policy Advisor to the UK Embassy in Baghdad.

The statement added, “During the meeting, the following was discussed: 
- Deposits of the Central Bank of Iraq, where the Deputy Governor of the Bank, Ammar Hamad, provided valuable insights into the size of the Central Bank of Iraq’s deposits with the Bank of England, stressing the importance of this financial cooperation.”

- Building the capabilities of Central Bank employees: The two sides stressed the importance of strengthening the capabilities of the employees of the Central Bank of Iraq, stressing their commitment to enhancing the skills and expertise of employees in the Central Bank.

- British banks in Iraq: The meeting also focused on encouraging British banks to participate more in Iraq, with the aim of strengthening financial ties between the two countries.

According to the statement, Ramsen emphasized “the historical relationship between the two institutions and the long-term relations between the United Kingdom and Iraq,” stressing “the Bank of England’s commitment to strengthening this partnership.”

The statement continued, "This meeting represents an important step towards strengthening economic and financial relations between the United Kingdom and Iraq. The Bank of England pledged to strengthen cooperation with the Central Bank of Iraq and support its continued efforts for economic growth and financial stability in Iraq    link

Tishwash:  The latest World Bank report talks about growth in the economies of the Gulf countries

 The World Bank said today, Thursday, in its latest report on economic developments for the Middle East and North Africa region, that the real gross domestic product (GDP) of the United Arab Emirates will grow by 3.4% at the end of the current year 2023, rising to 3.7% in the next year 2024.

The bank expects the UAE's real GDP per capita to grow by 3.4% in 2023, with this growth rising to 3.7% next year, 2024.

The report indicated that the current account balance in the UAE will rise to 12.4% in 2023 and 11.8% in 2024, and that the UAE will achieve a surplus in the public finance balance by 5.2% in 2023, and by 4.6% in 2024.

The World Bank report estimated the growth of the economies of the Gulf Cooperation Council countries at 1% in 2023, rising to 3.6% next year.

He pointed out that the economy of the Kingdom of Saudi Arabia will grow by 4.1% in 2024, while the economy of Kuwait will grow by 0.8% in 2023, rising to 2.6% in 2024.

According to the report, the Qatari economy is expected to grow by 2.8% in 2023, and by 2.5% in 2024, while the Sultanate of Oman’s economy will grow by about 1.4% in 2023, rising to 2.7% in 2024, while Bahrain’s economy is expected to grow by 2.8% in 2023, rising. To 3.3% in 2024. link

Iraq Economic News and Points to Ponder Thursday AM 10-5-23

Iraq Economic News and Points to Ponder Thursday AM 10-5-23

Floating The Dinar.. Specialist: A Disastrous Step And Monetary Policy Must Be Reconsidered

Amid the failure of the Central Bank of Iraq to control the exchange rate of the dinar against the dollar and the continued smuggling of hard currency out of the country, calls are appearing here and there to float the Iraqi dinar.

In this regard, Hammam Al-Shamaa, professor of economics at the University of Baghdad, says, “If the Iraqi dinar is floated, it is possible that the price of one dollar will reach more than 10 thousand dinars, and this price will not serve the Iraqi economy and will burden the citizens.”

Al-Shamaa added in a press interview seen by “Taqaddam” that “Iraq is considered one of the ranks of the Gulf countries as it is an oil country and has great potential for hard currency, and therefore flotation does not serve the Iraqi economy,” indicating that “flotation serves the economies of poor countries.”

Al-Shamaa warned that “taking such a step will lead to the death of the Iraqi people from hunger, especially since Iraq is a country that, despite its enormous natural wealth, is an unproductive country,” pointing out that “the agricultural sector is declining and the industry is backward, as there are no productive sectors that can provide food.” “For the people.”

He pointed out that “the government has begun to take measures that lead to an increase in the dinar’s exchange rate, including a delay in government spending,” calling for “a reconsideration of monetary policy in Iraq and assigning the task to those who lead it efficiently, professionally, and with knowledge, and not by bidding and searching for wealth creation and fundraising.” .

https://takadum-news.com/archives/186352#hathalyoum

Experts Call For Strict Measures Against {Dollar Smuggling}

The first  10/05/2023   Baghdad: Huda Al-Azzawi    Specialists in financial and economic affairs have warned that the issue of dollar smuggling carries a political connotation, in addition to the economic dimension, and that influential parties stand behind its continuation.

The government must be serious and have a strong will to stand up to the apparent smuggling of dollars, indicating that despite the Federal Integrity Commission’s ability to One month after recovering approximately 219 billion Iraqi dinars, the smuggling of dollars abroad has reached levels exceeding ($600 billion) since 2003.

Rapporteur of the Parliamentary Finance Committee for the fourth session, Dr. Ahmed Al-Saffar, stated in an interview with “Al-Sabah”: “The funds smuggled outside Iraq are very large, and what was recovered is perhaps less than 1% of the volume of funds accumulated outside Iraq, which belong to influential parties and were invested in Giant projects from which the host countries have benefited,”

stressing that “this matter requires a strong will on the part of the Iraqi government and a policy, organization, and committees through which coordination can be made with those countries that must cooperate to recover these funds, which are, in most cases, benefiting from their presence.” Therefore, the recovery process is difficult.”

Regarding dollar smuggling, Al-Saffar said:“The process of smuggling the dollar is a political, economic and financial process, and the main factor that prevents the recovery of the price of the dinar is the political factor.

Iraq has become an arena for conflicts, interests and political conflict, between countries that form entities that agree with American interests and others that are punished and economically prohibited from trading the dollar, because that A sovereign process for Washington, and there is a conflict between America and these regional countries that have a commercial, economic, political and social relationship with Iraq,” indicating that “if the political solution is achieved, the official dollar exchange rate can be restored,

and the other factor for dollar smuggling is the structural imbalance of the Iraqi economy.” In light of the lack of a real domestic product, and the country’s reliance on importing all its needs by 95%, which are paid in dollars, he explained that “a large percentage of this money goes to smuggling, so whenever Iraq is able to restructure economically and address the structural imbalance, and is able to revitalize The real economic sectors (agriculture, industry and trade), and rely on real output and reduce imports, this problem will be solved.”

He stated that “the last and important factor - which the government must pay attention to - is the presence of a chaotic financial policy, and we can say that there is no clear financial policy by extrapolating the budgets that were legislated and implemented in Iraq after 2003 until now, especially since the largest percentage of funds It goes to the consumer operational budget,” stressing,

“Today we need radical solutions to control the smuggled dollar, as I mentioned earlier.”

For his part, the head of the Regional Center for Studies, Ali Al-Sahib, indicated in an interview with Al-Sabah: “Although the Federal Integrity Commission was able, within one month, to recover approximately (219) billion Iraqi dinars, the smuggling of dollars abroad has reached Levels exceeding ($600 billion) since 2003, according to statements, after the Federal Integrity Commission rolled up its sleeves with real solutions to the files of rampant corruption in the body of the Iraqi state, which turned from a state to a phenomenon, then to a rule, and has now become a pandemic.

He pointed out that “the Integrity Commission, with its new administration, was able to manage the file with good steps and recovered to the Iraqi treasury about 300 billion Iraqi dinars from corruption files at home, but what remains important, even more important, is the amount of money looted and smuggled abroad, which figures indicate that it is around (600 billion). Dollars),

we also have convoys of corrupt people and plunderers of public money abroad who are still enjoying this huge amount of money and no lawsuits have been filed against them, even though Iraq is one of the countries that has agreements and cooperation with (Interpol).”

 Edited by: Muhammad Al-Ansari   https://alsabaah.iq/85023-.html

Decrease In Dollar Exchange Rates In Iraqi Markets...This List

Economy  2023-10-05 | 7,001 views  Alsumaria News – Economy  Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in Iraqi local markets for Thursday, October 5, 2023.

The price of the dollar decreased slightly with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording 156,600 dinars for 100 dollars. As for the selling prices in the exchange shops in the local markets inBaghdad, they decreased, as the selling price reached 157,500 Iraqi dinars, while the purchasing price reached 155,500 dinars for every 100 dollars.

“More than 8 months ago, specifically since the Central Bank began working on the electronic platform and the international financial transfer system.” Swift (SWIFT), the dollar exchange rates are not witnessed inIraqstability despite the attempts of the government and the Central Bank to control the exchange rate in the parallel (black) markets.

And he decided  Central Bank of Iraq Earlier, the exchange rate of the dollar against the Iraqi dinar was adjusted, as the price of purchasing 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 selling it at (1,320) dinars per dollar to banks and institutions. Non-banking finance for the ultimate beneficiary.   LINK

American Doubts About Iraq’s Ability To Stop Importing Iranian Gas And Talk Of An “Existential Battle”

Posted On2023-10-04 By Sotaliraq   On Wednesday, the American website "Oil Price", which specializes in energy news, questioned Iraq's pledges to soon stop importing Iranian gas and Iraqi announcements about the imminent launch of new projects in the gas sector.

Despite American skepticism, the report confirmed that “Iraq’s role could be pivotal in the existential battle currently taking place in the world for energy resources.”

The report criticized statements by senior Iraqi oil officials that gas imports from Iran will stop soon, which are followed by seasoned oil industry observers and which, in their view, are merely reassurances that are always followed by mutterings about new gas projects scheduled to start soon, pipelines that will be extended, and the fulfillment of energy-related commitments. Green.

The report continued its criticism, saying that they are “wonderful, evocative ideas that will certainly be welcomed by the US State Department. They also arouse collective optimism, but only for a while, before we remember that we heard all that before and that nothing has changed.”

However, the report pointed out what is at great risk for any new major player entering the game in the global gas market, explaining that “there are widening divisions that have not been so clear between the Western and Eastern alliances since the Russian invasion of Ukraine in the year 2022, which reflects the need to secure supplies.” Gas is long-term.

He continued, saying, “Cheap gas supplies from Russia were the cornerstone on which most of Europe, especially the de facto European leader Germany, built its economic prosperity over the past two decades,” adding that “fears of the risk of losing these supplies were enough for these European powers to “It undermines any serious plans to punish Russia over its annexation of Crimea in 2014.”

He added, "The rapid action by the United States and its main allies to secure alternative supplies of gas is what prevented the same diplomatic inaction after the Russian invasion of Ukraine in 2022."

Now, the report says, “Iraq’s role in this existential battle for global energy resources may be pivotal,” explaining that “it not only has the ability to become the first producer of crude oil in the world, and one of the largest exporters of gas as well, but its geopolitical location is important.” "It is critical to what is happening in the global security structure."

While the report pointed out the loss of the United States to Saudi Arabia, which strengthened its closeness to China through multiple events, including its recent accession to the “BRICS” bloc, its move deeper into the “Shanghai Cooperation Organization,” and through the agreement to resume the relationship with Iran, all of which are moves.

Brokered by Beijing, he continued, the other superpower in the Middle East, i.e. Iran, was also strengthened through its transformation into a proxy state for China through the “Comprehensive Cooperation Agreement between Iran and China for 25 years.”

The report stated that the ongoing moves by the Western coalition to separate Iran from the Chinese-Russian bloc, by drafting a diluted version of the “nuclear agreement,” adding that the existing logic in Washington is that if it is possible to separate Iraq, which has been under the influence of Iran for a long time,

Regarding Tehran, this will not only accelerate the signing of the new nuclear agreement with Iran, but it will also mean that the Western coalition will have two of the three largest oil and gas exporting countries in the Middle East under its influence.

The report considered that the French “Total Energies” company currently stands at the forefront of the Western coalition’s efforts to win over Iraq, through the huge, four-pronged deal, which is worth 27 billion US dollars, despite the fact that the company faces great challenges at every level.

Oil And Gas Bureaucracy In Iraq.

However, the report believed that strengthening the presence of other major Western companies in Iraq would contribute to enhancing their chances of success.

He added, “Such efforts, at least on the surface, are encouraged by Prime Minister Muhammad Shiaa al-Sudani, who recently said that Iraq will stop gas imports from Iran within two years after giant projects are formed to develop its gas facilities.”

However, the report stated that these words are the same as what former Prime Minister Mustafa Al-Kadhimi said when he went to Washington in May 2020 to request more money to support the corruption-afflicted economy, and to also request a 120-day exemption from the sanctions to continue importing gas and electricity from Iran.

He added that as soon as the United States provided financing and exemption, deposited the money in banks and Al-Kadhimi returned safely to his lands, Iraq signed a two-year contract with Iran to continue importing gas and electricity.

The report also stated that Sudanese announced last July that Iraq intends to pay for its oil supplies in exchange for the gas and electricity it imports from Iran because Iraq has no choice but to start paying for Iranian gas and electricity imports with Iraqi oil because the US sanctions on Iran have made it difficult Baghdad must make payments through traditional banking mechanisms.

However, the report considered that Iraq could end its dependence on gas from Iran relatively easily if it really wanted to, noting that the total proven natural gas reserves in Iraq amount to about 131 trillion cubic feet, and thus Iraq occupies 12th place in the world, and it may be Its gas reserves are much larger than that, because the level of exploration for gas reserves is not equal to the rate of oil exploration.

After he mentioned that the Iraqi Ministry of Oil had an agreement with the giant American engineering company “Baker Hughes” to seize the gas associated with the oil from the Gharraf and Nasiriyah oil fields, he pointed out that the plans related to Nasiriyah included the beginning of processing the gas to generate more than 100 million standard cubic meters, then developing the Nasiriyah plant.

To become a complete LNG facility capable of recovering 200 million cubic feet per day of dry gas, liquefied gas and condensates, a production that was supposed to go to the local power generation sector.

He continued that Baker Hughes had reported that processing the burned gas from these two fields would allow 400 megawatts of energy to be provided to the Iraqi network.

The report found that if Baker Hughes had been allowed to continue implementing the project, it would have taken about 30 months to implement, adding that it would have then been possible to implement similar development plans for other major gas detention sites, which in 2018 and 2020 included the Halfaya field (300). million cubic feet per day), and Artawi field (400 million cubic feet per day).

He noted that it was then possible to develop interconnections with the only major gas project that has achieved significant progress in Iraq over the years, which is the Basra Gas Company (BGC) project, which is managed by Shell.

He concluded by saying that at the present time, little progress has been made in any of these projects, and therefore it remains to be seen whether Al-Sudani’s recent statements will change this situation.LINK

Points to Ponder From The Seat of the Soul By Gary Zukav:

You cannot and will not encounter a circumstance or a single moment that does not serve directly and  immediately the  need of your soul to heal - to come to wholeness

When the personality , Jesus encountered the Luciferic principle , the challenging dynamic of the human experience -- when he  was offered dominion over the  entire  globe -- was he tempted??? Yes he was tempted !! If he were not - there would have been no power in his choice -- Authentic empowerment is not gained by making choices that do not stretch you 

Sooner or later, each soul will turn toward authentic power - Every situation serves this goal and every soul will reach it

When you understand that the experiences of your life are necessary to the balancing of the energy of your soul - you are free to not react to them personally -- to not create more negative karma for your soul

Although what you encounter and what you do in each moment is appropriate and perfect to the evolution of your soul -- the shape of the  experiences of your life is determined nonetheless by the choices that you  make -- It is you that  chooses to linger in resentment - or enveloped in  grief - or to release these lower frequency currents of energy

"Tidbits From TNT" Thursday Morning 10-5-2023

TNT:

Tishwash:    Iraq prohibits cash withdrawals in dollars in early January 2024 - urgent

 A senior official in the Central Bank of Iraq told Reuters, today, Thursday (October 5, 2023), that the country will ban cash withdrawals and transactions in dollars, starting from January 1, 2024, in the latest effort to limit the misuse of the country’s hard currency reserves in financial crimes. And evading US sanctions on Iran.

Mazen Ahmed, Director General of the Investment and Transfer Department at the Central Bank of Iraq, told Reuters that the aim of the step is to stop the illegal use of about 50 percent of the $10 billion cash amount that Iraq imports annually from the Federal Reserve Bank in New York.

This step comes as part of a broader campaign to stop the economy's dependence on the dollar after residents began to prefer the US currency over the dinar.

Ahmed said that people who deposit dollars in banks before the end of 2023 will be able to withdraw money in dollars in 2024. But dollars deposited in 2024 can only be withdrawn in the local currency at the official rate of 1,320 dinars to the dollar  link

CandyKisses:  Dozens of owners of banking companies demonstrate in front of the Central Bank of Iraq

Shafaq News / Dozens of owners of banking companies organized, on Thursday morning, a demonstration in front of the Central Bank of Iraq in the center of the capital Baghdad, demanding the lifting of sanctions imposed on them for illegal financial transactions.

The correspondent of Shafaq News Agency said that about 80 people from the owners of banking companies gathered in the area of Rashid Street in front of the central bank building, calling on his administration to lift the administrative and financial sanctions imposed on them.

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Tishwash:   In Baghdad... chaos in a foreign bank after it refused to hand over citizens' money in dollars

Social media pioneers circulated a video clip of a citizen who was extremely upset after a foreign bank in Iraq refused to hand over to him his money that he had deposited in US dollars.

He delivered the amount equivalent to the Iraqi dinar and according to the official price he announcedCentral Bank of Iraq.

Those interacting with the video clip unanimously called on the Central Bank to reveal the facts to public opinion, whether the Central Bank had prevented banks from handing people their money in dollars, or whether the banks were “exploiting” people and “robbing” them under the pretext of the Central Bank’s instructions.  link 

https://youtu.be/puFwdFPQ9Xc

Tishwash:  Iraq turns its back on the international coalition: We do not need you anymore and our forces are sufficient

The former Secretary-General of the Ministry of Peshmerga, Lieutenant General Jabbar Yawar, confirmed today, Thursday (October 5, 2023), that Iraq does not need international coalition combat forces, as the existing numbers in the Iraqi army, police, Hashd, and Peshmerga are sufficient.

Yawar said in an interview with "Baghdad Today", "Iraq and the Kurdistan Region need the military, security and intelligence expertise of the international coalition to support the Iraqi security forces and the Peshmerga in training and logistical and technical support."

He added, "Iraq needs its support in the field of developing air defenses, protecting and monitoring the airspace, and the fields of electronic warfare."

Earlier, Prime Minister Muhammad Shiaa Al-Sudani said that Iraq does not need foreign combat forces, and revealed that advanced discussions were being held in order to determine the form of the future relationship and cooperation with the international coalition.

While the United States and Iraq renewed their commitment to strengthening security and military cooperation and protecting regional stability, at the conclusion of their joint security cooperation dialogue, which was held in the American capital, Washington.

A joint statement stated Iraq's commitment to protecting American individuals, advisors, the international coalition, convoys, and diplomatic facilities, noting that cooperation between the two countries is mainly represented in the permanent defeat of Iraq's leadership of ISIS.

Iraq had officially announced that the tasks of the American forces would become advisory on December 31, 2021, with a number not exceeding two thousand soldiers. These forces are located in three main locations in Iraq: the “Ain al-Assad” base, located 130 kilometers from the city of Ramadi, In the west of the country, and the “Harir” base, north of Erbil, in the Kurdistan region of Iraq, in addition to Camp “Victoria”, adjacent to Baghdad Airport, where there is an intelligence task and analysis unit, in addition to the American embassy in central Baghdad. link

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Tishwash:  Iran.. Discovery of 4 new oil and gas fields

Today, Wednesday (October 4, 2023), Iranian Oil Minister Javad Oji revealed the exploration of four new oil and gas fields during ongoing operations throughout the country.

On the sidelines of the government delegation meeting, Jawad Oji reported that “four oil and gas fields were discovered with exploration operations that took place throughout the country,” adding: “The four oil and gas fields are the Cheshma Shor gas field in the northeast of the country in Khorasan Razavi province, and the Elkan oil fields in Golestan province, and the Tanko and Ganawa oil fields in Bushehr province.

Oji added: “We had a 78% replacement rate in the liquid hydrocarbons sector in the 13th government. This means that if 100 barrels of oil and gas condensates were produced for consumption or export, 78 barrels were replaced by new discoveries.”

He continued: "We also obtained an increase of more than 300% in conducting 3D seismic operations compared to the entire four years of the 12-year government."

The Iranian Oil Minister continued: “Compared to countries in the region such as Saudi Arabia, Kuwait, the Emirates, and Qatar, the Islamic Republic of Iran occupies first place in the field of exploration... and the success rate of exploration in Iran is 100 percent.”   link

Mot: ..... Member When we ~~~~

Mot:  ........ When the Sad reality strikes….

Goldilocks' Comments and Global Economic News Wednesday Evening 10-4-23

Goldilocks' Comments and Global Economic News Wednesday Evening 10-4-23

Good afternoon Dinar Recaps,

"TIME IS RUNNING OUT: 100 DAYS LEFT UNTIL CESOP"

January 1st of 2024, payment service providers are going to have to record electronically cross-border payments to the Federal Central Tax Office (BZSt) on a quarterly basis.

Central Electronic System of Payment Information (CESOP) will require Traditional Banks, Savings Banks, Credit Unions, eMoney Institutions, and Markets to begin reporting their daily electronic payments.

They have noted in this article that no postponement of this date will be accepted. It is important to have accurate records for tax purposes and accounting references to recording payments.

Card payments, SEPA credit transfers, and many other payment transaction products will be recorded. The Government records data on everything.

It helps in preparing tax audits, supports companies in processing their data, and formulates new protocols for the road ahead through Artificial Intelligence.

© Goldilocks

Twitter Link

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"Unresolved WTO disputes pile up amid growing disregard for trade rules"

We have a growing concern over disputes between countries regarding lack of clarity in new regulatory protocols.

There are so many changes that are going on around the world from a World Reserve Currency movement to trading in local currencies, new rules and regulations that are changing the landscape of payment systems electronically, and more.

The World Trade Organization (WTO) is currently going through reforms to deal with these inconsistencies brought on by Covid-19 restrictions in the shipping industry to where we are now.

Protocol 20 brings in global connections to Quantum Technologies/digital networks around the world. Hopefully, these new upgrades we are currently going through will provide much-needed direction for the WTO.

© Goldilocks

Daily Sabah Link

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New Satellite Track and Trace Solution for Logistics Industry is on the Way - Via Satellite

"WISeKey, a global cybersecurity company, is teaming up with WISeSAT, Fossa Systems, and BA Lab the technology division of Bernardino Abad SL has come together to create this new solution targeting smart containers. The partnership agreement was announced Oct. 2."

Several companies have joined forces to bring in a new track-and-trace solution for the logistics industry. This solution is achieved through the use of satellite technology.

The logistics industry is going through digital reform integrations. This Track and Trace solution for companies will give guidance and direction on the receiving and shipment of goods and services.

It will provide what and who is needed for pickup and delivery across the globe through artificial intelligence making the efficiency of global trade faster and run with greater adherence to elimination of waste in payment resources.  

© Goldilocks

Satellite Today Link

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Why Banks Can't Ignore ISO 20022: A Perspective From Fintech Expert Rishi Munjal TechBullion Link

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BIS completes CBDC cross-border trading and settlement test with three central banks 

Kitco News Link

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UBS goes live on Broadridge's New Distributed Ledger Sponsored Repo Solution

Finance Yahoo Link

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B2B Payments Market Size to Surpass USD 3,795.34 Billion Growth by 2032, Exhibit a CAGR of 9.38% | Expansion of International Trade

Globe News Wire Link

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Recently, the Federal Deposit Insurance Corporation (“FDIC”) released its annual Summary of Deposits (“SOD”) data, as of June 2023 (available here).

The annual SOD data is the result of the FDIC’s annual survey of branch office deposits for all FDIC‐insured institutions, and “provides deposit totals for each of the more than 77,000 domestic offices operated by more than 4,600 FDIC‐insured commercial and savings banks, savings associations, and U.S. branches of foreign banks.”

The SOD data plays a crucial role in the competitive analysis of bank mergers, as it is the SOD data that underlies the market share information and Herfindahl‐Hirschman Index (“HHI”) calculations considered by the regulators in any given banking market.

As we have been discussing for about the last year and a half, both the banking agencies and the DOJ are considering updates to their respective merger guidelines. This latest batch of SOD data is likely to be part of what the DOJ and the banking agencies will look at in their deliberations.

https://www.jdsupra.com/legalnews/fdic-releases-sod-data-2974202/

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Do you see the number of Quantum Technologies going live as we speak?

The articles shared in this room today bear witness to a new Technological World ahead of us that will change the landscape of business forever.

Protocol 20 will bring these Technologies together and formulate pathways into the future through Artificial Intelligence.

If you have not been keeping up with where we are in this upgrade into Protocol 20 on the Stellar Network, here is a link that will allow you to watch it move us from an old banking systematic set of protocols to new digital procedures.

© Goldilocks

https://dashboard.stellar.org/

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💥ISO 20022 LEAD TO GLOBAL SHOCK💥XRP XDC XLM & MORE - INVEST IN THE FUTURE NOW

https://youtu.be/6FvIVnSJ1IA?feature=shared

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Techopedia Link

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CBDC frameworks must guard user privacy, monetary freedom — BIS chief
Coin Telegraph Link

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SEC can’t appeal judge’s Ripple decision 

Banking Dive
Goldilocks pointed at this one!

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Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

Goldilocks' Telegram Room

Q & A Telegram Room

Goldilocks on the Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

Iraq Economic News and Points to Ponder Wednesday Afternoon 10-4-23

Iraq Economic News and Points to Ponder Wednesday Afternoon 10-4-23

Tlm724 Administrator Bondlady’s Corner

Iraq And Jordan Are Discussing Joint Cooperation And Creating An Integrated Environment For Commercial Transactions

Money  and business   Economy News – Baghdad  Today, Wednesday, the Minister of Commerce, Atheer Al-Ghurairi, discussed with the Jordanian Ambassador to Iraq, Montaser Al-Zoghbi, the Chairman of the Amman and Jordan Chamber of Industry, and the delegation accompanying them, the prospects for joint cooperation between Iraq and Jordan, and creating an environment for trade exchange in accordance with international standards, overcoming obstacles, and in a way that serves their common interests.

 Al-Eqtisad News received it: “During the meeting, Minister Al-Ghurairi referred to the depth of relations between the two brotherly countries and the Iraqi government’s keenness, within its governmental program, to strengthen and develop economic and trade relations at various levels with Jordan.” Al-Ghurairi added, according to the statement, “The Ministry of Commerce is working today in accordance

with An economic vision in formulating the country’s trade policy to reach an ideal state for commercial dealings and exchanges with all countries of the world through activating joint committees and agreements to provide a suitable environment for investment and trade.”

The statement continued that the Jordanian delegation proposed a number of issues that hinder the movement of trade exchange, including the ratification of commercial documents and facilitating procedures for granting entry visas to construction and trade men.

In this regard, the Minister of Commerce directed the Department of Economic Relations to expedite the electronic transformation in certifying certificates of origin and in coordination with the Ministry of Foreign Affairs to participate through one window to certify the rest of the documents,

in addition to directing the exhibition company to provide facilities for Jordanian participation in the Baghdad International Fair, with an agreement to complete the procedures for establishing the commercial center . "The permanent Jordanian on the exhibition grounds."

For his part, the Jordanian ambassador stressed his country's keenness to consolidate joint economic and trade relations and increase the volume of trade exchange, in a way that serves the interests of the two friendly peoples of Iraq and Jordan, and to encourage the Jordanian private sector to enter into partnerships with the Iraqi private sector in promising investment and economic projects,

expressing his thanks for the facilities provided by the ministry. To increase the volume of exchange and overcome obstacles, indicating that the Jordanian participation this year is distinguished.

The meeting was attended by the Undersecretary of the Ministry of Commerce for Administrative Affairs, Sattar Al-Jabri, the general departments of the Department of Foreign Economic Relations, the Iraqi Exhibitions Company, the Assistant Director General of the Development Department, and a representative of the Ministry of Foreign Affairs.

 Views 55 10/04/2023 - https://economy-news.net/content.php?id=36790   

With Broad Arab And International Participation...The General Trade Exhibition Will Be Opened Tomorrow In Basra

Wednesday 04, October 2023 12:05 | Economical Number of readings: 399  Basra / NINA / “The organizing company for the Basra International General Trade Exhibition announced its opening tomorrow, Thursday, for a period of ten days on the exhibition grounds in the port of Al-Maqal.

The relations and media official for the exhibition, Osama Majeed, told the National Iraqi News Agency / NINA / today, that the exhibition is being held with the participation of more than 140 people.” A company, from ten Arab and foreign countries, in addition to local companies.

He added, “The countries participating in the exhibition arrived in the city of Basra, and they are from Iran, Turkey, India, Pakistan, Egypt, Syria, Jordan, Algeria, Kuwait and Lebanon.

Majeed indicated that the official opening to the public will be at three o’clock in the evening tomorrow, Thursday, October 5th, indicating that the show times start from three o’clock in the evening until midnight./    https://ninanews.com/Website/News/Details?key=1081406

The Central Bank Sells More Than $196 Million In Currency Auction

Economy News – Baghdad  Today, Wednesday, the Central Bank of Iraq’s sales in the foreign currency sales window amounted to more than 196 million dollars.

The Central Bank's website published its dollar sales schedule, which Al-Iqtisad News reviewed. It included the participation of 23 banks and 82 exchange companies, and covered external transfer requests of 187 million dollars, while cash requests amounted to more than 9 million dollars.

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

Views 183 10/04/2023 - https://economy-news.net/content.php?id=36784

Dollar Prices In Baghdad With The Closing On Wednesday Evening

Time: 10/04/2023 16:39:20 Read: 1,209 times   {Economic: Al-Furat News} The main stock market in Baghdad closed today, Wednesday, with the exchange rates of the US dollar against the Iraqi dinar rising slightly.

With the closure of the main Al-Kifah and Al-Harithiya stock exchanges in Baghdad, the dollar prices recorded 156,900 Iraqi dinars against 100 dollars, while the dollar prices this morning were 156,750 Iraqi dinars against 100 dollars.

Until the selling prices in the exchange shops in the local markets in Baghdad stabilized, as the selling price reached 157,750 dinars for 100 dollars, while the purchase price reached 155,750 dinars for 100 dollars.  LINK

Brent Crude Rises To $90.98 Per Barrel

Economy | 09:49 - 04/10/2023   Baghdad - Mawazine News  Oil prices rose in early Asian trading on Wednesday, supported by shrinking global crude supplies ahead of a meeting of a committee of OPEC+ ministers.

By 00:04 GMT, Brent crude futures rose six cents to $90.98 per barrel, while US West Texas Intermediate crude rose 11 cents to $89.34 per barrel.

The OPEC+ group, which includes the Organization of the Petroleum Exporting Countries and its allies, is expected to keep production policy unchanged when it meets today, Wednesday, after Saudi Arabia and Russia, which are members of the group, extended their production cuts until the end of the year.

https://www.mawazin.net/Details.aspx?jimare=235857

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

https://www.bondladyscorner.com/ 

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

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

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

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

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

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

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