Iraqi News Highlights and Points to Ponder Tuesday AM 11-21-23
Iraqi News Highlights and Points to Ponder Tuesday AM 11-21-23
The Foreign Ministry Complains About The Role Of The American Ambassador In The “Dollar Crisis”: Her Reports Are Different
Politics |Baghdad today – Baghdad The Foreign Relations Committee in the House of Representatives said today, Tuesday (November 21, 2023), that US Ambassador Alina Romanowski did not play any positive role in supporting and strengthening the Iraqi dinar and resolving the dollar crisis that Iraq is witnessing due to American decisions.
Committee member Representative Amer Al-Fayez said in an interview with “Baghdad Today” that “the American ambassador supports her country’s decisions against Iraq regarding the dollar crisis, and she did not have a positive role in supporting the Iraqi dinar.”
Iraqi News Highlights and Points to Ponder Tuesday AM 11-21-23
The Foreign Ministry Complains About The Role Of The American Ambassador In The “Dollar Crisis”: Her Reports Are Different
Politics |Baghdad today – Baghdad The Foreign Relations Committee in the House of Representatives said today, Tuesday (November 21, 2023), that US Ambassador Alina Romanowski did not play any positive role in supporting and strengthening the Iraqi dinar and resolving the dollar crisis that Iraq is witnessing due to American decisions.
Committee member Representative Amer Al-Fayez said in an interview with “Baghdad Today” that “the American ambassador supports her country’s decisions against Iraq regarding the dollar crisis, and she did not have a positive role in supporting the Iraqi dinar.”
He continued, "The American embassy in Baghdad submits reports to the American administration with various information, whether at the economic, political, or even security levels, and as a result of those reports, Washington takes some decisions, but we do not know anything about the American reports that are sent from Baghdad to Washington, except that... It is certain that there are many unreal issues.”
Yesterday, Monday (November 20, 2023), an informed source reported an expected meeting between the Central Bank of Iraq and the US Treasury Department next week.
Government sources recently spoke about an agreement concluded between the Central Bank of Iraq and the American side, which resulted in an increase in the number of banks that can directly enhance their balance in dollars to 10 banks, 5 of which are through Citibank, and the other five are through Bank G. B. Morgan), according to the Iraqi News Agency.
He also revealed that the number of Iraqi banks whose balances in Chinese yuan will be strengthened through the Singapore Development Bank has increased to 13 banks, while the number of banks whose accounts in Indian rupees with the Singapore Development Bank have been strengthened is 2, and other banks will be added during the next two weeks.
Other meetings were held that brought together an Emirati bank, the Central Bank of Iraq, and the American side, to implement the mechanism for enhancing balances in the Emirati dirham for Iraqi banks, where all the technical details were resolved, and it is expected that the mechanism for enhancing balances in the Emirati dirham will begin during the next few days. LINK
Parliamentary Calls To Expand The “Currency Basket” To Escape The Consequences Of The Dollar
Information / Baghdad Representative Salem Al-Anbuki stressed, on Tuesday, Iraq’s need to increase the size of the financial basket of foreign currencies other than the dollar to end American hegemony.
Follow the “Al-Ma’louma” channel on Telegram.. News that does not require documentation..
Al-Anbuki said in an interview with Al-Ma’louma, “The restrictions on the circulation of the dollar in Iraq have created recurring economic crises, especially since Washington uses it from time to time as a pressure card, not in the country but in other countries, which increases the burden on the markets and led to the emergence of the parallel market that is behind the increase in burdens.” Finance on millions of Iraqis.
He added, "Iraq has realized the importance of creating a basket of other currencies besides the dollar to get rid of its restrictions, especially since it has large trade with countries such as China and India, which gives high flexibility in providing the funds necessary for imports without going through the complexities of transferring the dollar."
He pointed out that "many countries, some of which are oil-based, have begun to diversify the currencies in their financial reserves in order to provide greater flexibility in providing funds for import purposes away from the restrictions of the dollar."
The US Treasury created crises inside the country because of its restrictions on the transfer of the dollar to Baghdad and the imposition of sanctions on some banks. Ended 25 February LINK
Parliamentarians Demand Real Solutions To The Dollar Crisis
Iraq 11/21/2023 Baghdad: Shaima Rashid Members of the House of Representatives believe that there are various reasons behind the rise in the dollar exchange rate, between the smuggling of currency outside the country and the government’s lack of control over the situation and control of the borders, in addition to the lack of real and realistic solutions in this regard. On the other hand, the victim of all this matter is The poor citizen who is no longer able to meet his needs with the daily rise in prices due to the rise in the dollar.
Member of the House of Representatives, Fatima Al-Qara Ghouli, said in an interview with “Al-Sabah”: “The victim of the current economic crisis is primarily the poor Iraqi citizen,” indicating that “everyone knows the reason for it is the smuggling of currency outside Iraq, and that because of this matter, the US Federal Bank has determined The sale of the dollar should be through the electronic platform in order to control all these obstacles, and in order to stop the smuggling of the dollar outside Iraq.”
She added, "This issue needs a clear financial policy and strategy in order to limit the issues that caused this crisis, in which the Iraqi citizen was a victim," indicating that "with the start of the next legislative term, a session will be held in this regard in order to develop solutions and consult with the Central Bank and the Ministry of Finance."
Finance, and the session will be in the presence of the Governor of the Central Bank,” and she continued: “The timing of the session is still under study, as the issue is important and has caused a stifling crisis without there being solutions.”
In addition, Member of Parliament Haider Al-Salami criticized what he described as “the government’s lack of control over the exchange rate,” and pointed out in an interview with “Al-Sabah” that “there is no real treatment for the crisis, as it must start from the border because currency smuggling and selling Millions of dollars starts from there.”
Al-Salami called on the Prime Minister to address the details of the dollar crisis in a real manner by changing the officials and those concerned with this file, indicating that “we must be frank with regard to this file, because there are partisan interventions in it that make the government unable to solve it.” https://alsabaah.iq/87634-.html
The Dollar In Iraq.. Baghdad Is Planning “Permanent Solutions” With Washington, And Parliament Describes The Dialogues As “Successful”
Politics/Economy |Baghdad today - Baghdad The Finance Committee in the House of Representatives said today, Tuesday (November 21, 2023), that the dialogues taking place between the Central Bank of Iraq and the US Department of the Treasury are very important to find solutions to the dollar crisis in Iraq.
Committee member Moeen Al-Kazemi told Baghdad Today, “The monetary and financial authority in Iraq is making great efforts through negotiation and dialogue with the US Treasury Department in order to find quick and lasting solutions to the dollar crisis, and these dialogues are very important.”
Al-Kadhimi stated, "Over the past few days, Iraq has reached important solutions with the American side, and the dialogues have been successful. Therefore, new meetings must be held to present more solutions that strengthen the Iraqi dinar, prevent any scarcity of the dollar in Iraq, and support the Iraqi banking sector."
Yesterday, Monday (November 20, 2023), an informed source reported an expected meeting between the Central Bank of Iraq and the US Treasury Department next week.
Government sources recently spoke about an agreement concluded between the Central Bank of Iraq and the American side, which resulted in an increase in the number of banks that can directly enhance their balance in dollars to 10 banks, 5 of which are through Citibank, and the other five are through Bank G. B. Morgan), according to the Iraqi News Agency.
He also revealed that the number of Iraqi banks whose balances in Chinese yuan will be strengthened through the Singapore Development Bank has increased to 13 banks, while the number of banks whose accounts in Indian rupees with the Singapore Development Bank have been strengthened is 2, and other banks will be added during the next two weeks.
Other meetings were held that brought together an Emirati bank, the Central Bank of Iraq, and the American side, to implement the mechanism for enhancing balances in the Emirati dirham for Iraqi banks, where all the technical details were resolved, and it is expected that the mechanism for enhancing balances in the Emirati dirham will begin during the next few days. LINK
Representatives Warn: The Scarcity Of The Dollar Causes Iraqis Working In Foreign Companies To Lose 20% Of The Value Of Their Salary
November 20, 2023 Baghdad/Al-Masala Al-Hadath: Representative Mustafa Sanad revealed a strange reason that exacerbated the problem of dollar scarcity in local markets, and caused a loss of 20% of the salaries of Iraqis working in foreign companies.
Sanad said that the Prime Minister’s Office gave an exception to Daewoo to receive their share of the dollar in full and through (Abu Dhabi Islamic Bank), and therefore the Central Bank, Basra Branch, was directed to distribute most of the cash dollar (cash) to this company for nearly three months.
He added that this measure caused the scarcity of dollars for the rest of the local companies and contractors and their loss of 20% of their dues because the receipt was in Iraqi dollars and at the official rate. The same applies to Iraqis working for foreign companies who were receiving their salaries in dollars and now in Iraqi dollars and at the official rate, which caused their salaries to decrease by 20%.
He pointed out that a question was directed to the Central Bank about the reasons for this unfair dealing. https://almasalah.com/archives/73798
Provoking Points To Ponder From Seedtime Quotes That Will Change How You Look At Money
“If you have no debt and US$10 in your pocket – you are richer than 25% of the American people!”
“Price is what you pay, Value is what you get!”
“The Quickest way to Double your Money is to fold it over and put it back in your pocket!”
“I make myself rich by making my wants few!”
“Don’t let pride keep you in debt. A big house and a fancy car aren’t worth a lifetime of bondage!”
“Become so Financially Secure that you forget that it’s Payday!”
“Don’t go Broke trying to Look Rich!”
“Wealthy people invest first & spend what’s left… Broke people spend first & invest what’s left”
Continued……………. More to come ……….
"Tidbits From TNT" Tuesday 11-21-2023
TNT:
Tishwash: Parliamentary calls to expand the “currency basket” to escape the consequences of the dollar
Representative Salem Al-Anbuki stressed, on Tuesday, Iraq’s need to increase the size of the financial basket of foreign currencies other than the dollar to end American hegemony.
Al-Anbuki said in an interview with Al-Maalouma, “The restrictions on the circulation of the dollar in Iraq have created recurring economic crises, especially since Washington uses it from time to time as a pressure card, not in the country but in other countries, which increases the burden on the markets and led to the emergence of the parallel market that is behind the increase in burdens.” Finance on millions of Iraqis.
He added, "Iraq has realized the importance of creating a basket of other currencies besides the dollar to get rid of its restrictions, especially since it has large trade with countries such as China and India, which gives high flexibility in providing the funds necessary for imports without going through the complexities of transferring the dollar."
TNT:
Tishwash: Parliamentary calls to expand the “currency basket” to escape the consequences of the dollar
Representative Salem Al-Anbuki stressed, on Tuesday, Iraq’s need to increase the size of the financial basket of foreign currencies other than the dollar to end American hegemony.
Al-Anbuki said in an interview with Al-Maalouma, “The restrictions on the circulation of the dollar in Iraq have created recurring economic crises, especially since Washington uses it from time to time as a pressure card, not in the country but in other countries, which increases the burden on the markets and led to the emergence of the parallel market that is behind the increase in burdens.” Finance on millions of Iraqis.
He added, "Iraq has realized the importance of creating a basket of other currencies besides the dollar to get rid of its restrictions, especially since it has large trade with countries such as China and India, which gives high flexibility in providing the funds necessary for imports without going through the complexities of transferring the dollar."
He pointed out that "many countries, some of which are oil-based, have begun to diversify the currencies in their financial reserves in order to provide greater flexibility in providing funds for import purposes away from the restrictions of the dollar."
The US Treasury created crises inside the country because of its restrictions on the transfer of the dollar to Baghdad and the imposition of sanctions on some banks. link
CandyKisses: Dollar hits lowest level against the euro and other major currencies
Economy News _ Baghdad
The dollar came under pressure on Tuesday and traded at multi-month lows against the euro and other major currencies as investors expect U.S. interest rates to fall next year and see it as a sign of selling the dollar as a mockery.
The moves were modest in early Asian trade, but the dollar index fell below its 200-day moving average on Monday as the Chinese yuan's rise triggered another round of significant decline for the greenback.
The dollar index, which measures the greenback's performance against a basket of six major currencies, fell 1.9 percent last week as U.S. Treasury yields rose sharply and lost another 0.5 percent overnight to 103.44 points.
The euro touched a three-month high of $1.0952 on Monday thanks to limited help from European Central Bank Governing Council member Pierre, who defied market expectations of a rate cut in April.
The yuan hit a three-month high against the dollar on Monday thanks to China's central bank policies. The Australian and New Zealand dollars also rose against the greenback.
In weak offshore trading on Tuesday morning, the yuan rose and maintained gains at 7.1640 per dollar.
The Australian dollar rose slightly to $0.6561, slightly below Monday's three-month high of $0.6564.
The New Zealand dollar settled at $0.6040.
Even the yen rose to a seven-week high of 148.1 per dollar overnight and settled at $148.3 on Tuesday
************
Tishwash: Rashid from Baku: Iraq today enjoys distinguished international relations and is a fertile environment for investment
Today, Tuesday, the President of the Republic, Abdul Latif Jamal Rashid, visited the Iraqi embassy in the Azerbaijani capital, Baku, and met with its staff.
President Rashid stressed during his speech, according to a presidential statement, a copy of which {Al-Furat News} received, that "one of the priorities of Iraq's diplomatic missions is to convey the true picture of the new Iraq and the extent of the clear improvement in the security, political and economic aspects."
He also stressed the importance of the embassy working to encourage investment companies in Azerbaijan to work in Iraq in the investment, economic and tourism fields.
The President of the Republic pointed out that "Iraq today enjoys distinguished relations with all countries of the world at various levels and is a fertile and suitable environment for investment in various sectors."
In turn, the staff of the Iraqi embassy expressed their thanks and appreciation to the President of the Republic for his valuable directives, stressing their continued hard work and development to achieve the highest interests of the country. link
************
CandyKisses: Gold rises after the decline of the dollar and the focus turns to the minutes of the US Federal Reserve meeting
Gold rises after the decline of the dollar and the focus turns to the minutes of the US Federal Reserve meeting
Economy News-Baghdad
Gold prices rose on Tuesday, supported by a decline in the US dollar and Treasury yields, while investors looked to the minutes of the last meeting of the US Federal Reserve for more clues regarding the interest rate outlook.
Spot gold rose 0.6% to $1,988.29 an ounce by 01:33 GMT. U.S. gold futures rose 0.5 percent to $1,990.10.
The dollar fell near its lowest level in more than two and a half months as investors expected U.S. interest rates to fall next year. A weaker dollar would make gold less expensive for holders of other currencies.
Among other precious metals, spot silver rose 1% to $23.64 an ounce, platinum settled at $918.59, while palladium slipped 0.2% to $1,076.26.
Mot: ..... ooooooooooooooooooooh NOooooooooooooooooo
Mot: For anyone up here having problems with strangers coming onto your property..
Goldilocks' Comments and Global Economic News Late Monday Evening 11-20-23
Goldilocks' Comments and Global Economic News Late Monday Evening 11-20-23
Good Evening Dinar Recaps,
"There are three main routes that connect the Atlantic and the Pacific oceans: the Northeast Passage, the Northwest Passage, and the mostly unused Transpolar Sea Route."
Are we rerouting the shipping trade industry? Who has the greater access to these pathways? Will the BRICS system create these new pathways into the sea? What will be the main trading currency/currencies that will lead the way?
Goldilocks' Comments and Global Economic News Late Monday Evening 11-20-23
Good Evening Dinar Recaps,
"There are three main routes that connect the Atlantic and the Pacific oceans: the Northeast Passage, the Northwest Passage, and the mostly unused Transpolar Sea Route."
Are we rerouting the shipping trade industry? Who has the greater access to these pathways? Will the BRICS system create these new pathways into the sea? What will be the main trading currency/currencies that will lead the way?
80% of all trades and currency exchange rates happen on the sea.
Watch the water.
© Goldilocks
Wikipedia Link
https://www.congress.gov/bill/118th-congress/house-bill/556
~~~~~~~~~~
IBBC Autumn Conference 2023 in Dubai to unveil visionary insights to propel Iraq's prosperity
~~~~~~~~~~
Regulatory Developments
Securities and Exchange Commission). Swaps. SEC adopted a set of rules and forms (see fact sheet under the Securities Exchange Act of 1934 that would create a regime for the registration and regulation of security-based swap execution facilities and address other issues relating to security-based swap executions generally.
The rule is effective 60 days after publication in the Federal Register, and the compliance dates are specified in Section XVI of the rule. Separately, Chair Gensler provided remarks in support of the rulemaking, while Comm'r. Uyeda issued a brief dissent.
Commodity Futures Trading Commission. Futures Commission Merchants (FCMs) & Derivatives Clearing Organizations (DCOs). CFTC proposed a rule (see fact sheet) to amend its regulations governing the types of investments that FCMs and DCOs may make with funds held for the benefit of customers trading futures, foreign futures, and cleared swap transactions.
The deadline for comments is January 17, 2024. Chairman Behnam and Comm'r. Pham issued statements of support, while Comm'r. Goldsmith Romero and Comm'r. Johnson supported the proposal with caveats.
Department of Labor & White House. Retirement Savings Advice and "Junk Fees." DOL's Employee Benefits Security Administration proposed a retirement security rule updating the definition of an investment advice fiduciary under the Employee Retirement Income Security Act. The deadline for comments is January 2, 2024. Separately, the White House released a fact sheet on the rulemaking.
~~~~~~~~~~
Research and Analysis
Financial Industry Regulatory Authority. Securities & Quantum Computing. FINRA issued a report entitled "Quantum Computing and the Implications for the Securities Industry."
Michael Buckalew is a regulatory analyst with Davis Wright Tremaine LLP.
https://youtu.be/H1DfTVDl-uI?feature=shared
~~~~~~~~~~
Dutch Central Bank Admits It Has Prepared For A New Gold Standard
https://www.zerohedge.com/markets/dutch-central-bank-admits-it-has-prepared-new-gold-standard
~~~~~~~~~~
Western currencies have been almost completely phased out in Russia-China trade, as nearly all payments between the countries are now carried out in rubles and yuan, Russian First Deputy Prime Minister Andrey Belousov announced on Monday.
https://www.rt.com/business/587666-russia-china-trade-national-currencies/
~~~~~~~~~~
Local currency swaps are surfacing everywhere. Trading in local currencies in the Eastern half of our world and Asian countries are climbing.
These new trading venues will create demand and raise the values of these currencies.
This is why I keep sharing with you to watch the water.
© Goldilocks
Reuters Link
~~~~~~~~~~
LIVE! Dollar Continues To Fall And Bond Yields Drop! A "Goldilocks Scenario" For Stocks. Mannarino
https://www.youtube.com/live/Wv3d3Dhg_YU?feature=shared
~~~~~~~~~~
Follow Goldilocks' Roadmap
Follow Goldilocks' Timeline
Goldilocks' Telegram Room
Q & A Telegram Room
Goldilocks on the Seeds of Wisdom Team™ Website
Subscribe to Newsletter
Thank you Dinar Recaps -- www.DinarRecaps.com
Iraq Economic News and Points to Ponder Late Monday Evening 11-20-23
Iraq Economic News and Points to Ponder Late Monday Evening 11-20-23
Tlm724 Administrator Bondlady’s Corner
A Government Plan To Improve The Performance Of The Banking Sector
Iraq 11/20/2023 Baghdad: Haider Al-Jaber The government attaches great importance to reforming the government banking sector, which dominates about 85 percent of investments in this vital sector.
The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Saleh, explained to “Al-Sabah” that “there are priorities in the pace of economic reform that the government program brought in spirit and letter, as reforming the government banking sector and returning it to work on the basis of efficiency and high competitiveness is the main goal of the financial reform that it seeks.”
Iraq Economic News and Points to Ponder Late Monday Evening 11-20-23
Tlm724 Administrator Bondlady’s Corner
A Government Plan To Improve The Performance Of The Banking Sector
Iraq 11/20/2023 Baghdad: Haider Al-Jaber The government attaches great importance to reforming the government banking sector, which dominates about 85 percent of investments in this vital sector.
The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Saleh, explained to “Al-Sabah” that “there are priorities in the pace of economic reform that the government program brought in spirit and letter, as reforming the government banking sector and returning it to work on the basis of efficiency and high competitiveness is the main goal of the financial reform that it seeks.”
The government reached it within the scope of a broad program of economic and institutional reform and building a modern banking market in accordance with the requirements of the Constitution. Saleh added,
“The government banking sector dominates more than 85 percent of the sector’s total investments, but
at the same time it suffers from a heavy legacy as a result of its faltering for more than four decades of instability in the face of the progress that has afflicted banking in the world,” noting that “this matter
“It necessitated that the financial and banking sector take priority in the basic reform package.” The government's financial advisor added,
"The development plans required to be submitted by government banks will reflect the banks' capabilities for reform and the corrective decisions required to be taken to proceed with the major banking reform process to achieve the goal of reform."
Banking reform plans face difficult obstacles, difficult for several reasons, as they lack a number of foundations that push the process forward.
Banking expert Mahmoud Dagher said in an interview with “Al-Sabah”:
“Reforming government banks is one of the most difficult tasks due to their functional slackness and incomplete data, as well as problems in their budgets with accumulations dating back a long time,” indicating that “these banks are prohibited from international dealings.”
“There are sanctions on some procedures that took place before 2003, in addition to the difficulty of establishing a technological banking system that enables it to develop.” Dagher continued,
"Since 2018, Rafidain Bank has not been able to install the technological banking system," stressing that "there is difficulty in reforming government banks if there is no change in ownership, improving the performance of employees, and establishing the banking system." Dagher concluded,
“Banks are a modern banking system through which all branches are able to communicate and exchange information and restrictions with the center.” https://alsabaah.iq/87563-.html
Saleh.. Iraq Seeks To Reform The Government Banking Sector
November 20, 2023 Last updated: November 20, 2023 Al-Independent/ - The Iraqi government attaches great importance to reforming the government banking sector, which dominates about 85 percent of the investments in this vital sector.
Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Saleh, believes that reforming the government banking sector and returning it to work on the basis of efficiency and high competitiveness is the main goal of financial reform that the government seeks within the framework of a broad program of economic and institutional reform and building a modern banking market in accordance with the requirements of the Constitution.
The Iraqi government banking sector suffers from a heavy legacy as a result of its faltering for more than four decades of instability in the face of the progress that has afflicted banking in the world.
Iraqi banking reform plans face difficult obstacles for several reasons, including:
Functional slackness and incomplete government bank data.
Problems in the budgets of government banks, with accumulations dating back a long time.
Prohibiting global dealings with these banks due to sanctions on some procedures that took place before 2003.
The difficulty of establishing a technological banking system that enables them to develop.
Banking expert Mahmoud Dagher believes that reforming government banks is one of the most difficult tasks, due to these challenges, in addition to the difficulty of changing ownership, improving the performance of employees, and establishing the bank system.
He points out that the bank system is a modern banking system, through which all branches are able to communicate and exchange information and restrictions with the center.
Dagher concludes that reforming Iraqi government banks requires making great efforts and taking decisive measures to overcome the challenges facing it and achieve the desired goal of this reform.
Prospects For Iraqi Banking Reform
Iraqi banking reform can achieve many gains, the most important of which are:
Strengthening financial stability in the country.
Improving the performance of the banking sector and increasing its ability to provide banking services to citizens and companies.
Attracting foreign investments to Iraq.
Achieving these gains requires working to address the challenges facing Iraqi banking reform, by taking the following measures:
Carrying out structural reforms in government banks, including changing ownership, improving employee performance, and establishing a banking system.
Strengthening cooperation between the government banking sector and the private banking sector.
Encouraging investment in the Iraqi banking sector.
If the Iraqi government is able to take these measures, Iraqi banking reform will play an important role in strengthening the Iraqi economy and achieving sustainable development.
https://mustaqila.com/صالح-العراق-يسعى-لإصلاح-القطاع-المصرف/
The Iraq Fund For Development Is A Serious Start
Economic 11/19/2023 Yasser Al-Metwally Today, hopes are building that the Iraq Fund for Development, despite its late arrival, will be a successful and serious start to achieving the goals of sustainable development
And the truth is, it is a guarantee for the future generations of Iraq’s wealth.
For the first time, I sense seriousness in the steps of preparation and planning to implement the Fund’s programs and objectives, based on important procedures
Followed during the establishment stages, especially at the beginning
The highest figure in the government apparatus assumes responsibility for its administration, represented by the Prime Minister.
The second important measure is also the involvement of the private sector in the membership of the Fund’s Board of Directors, and here the priority of the seriousness that I described in the correct steps for establishing it emerges.
Having the head of the government hierarchy manage the Fund gives it support and momentum to move towards achieving the most important aspect of the government program related to the implementation of development projects.
Then, involving the private sector in half of the members of the Board of Directors adds seriousness to the success of the Fund’s objectives, based on the fact that the private sector is the true meaning and engine of development and attracting investments, and using its vision contributes to the success of the executive steps based on its expertise and experience in implementing projects.
What is also striking in the purposeful steps that have been observed in establishing this fund is the naming of the executive management of the fund as a scientific, technocratic figure who is familiar with global experiences and who tries to apply the experiences of developed countries and who has successful experiences in drawing up the fund’s plans,
in addition to selecting representatives of the private sector who are supposed to represent the real private sector in the membership of its board of directors..
What is the latest action taken by the executive management of the fund by holding a dialogue session in cooperation with the Association of Banks with representatives of the banking sector to brief them on the objectives and mechanisms of the fund’s work and to listen to their views on the possibility of contributing to the fund in a confident step that is considered by the executive management? How?
This is because the banking sector is the arm on which the private sector and implementing companies depend, through their access to advanced banking services to manage corporate affairs.
The Fund's marketing program is underway through continuous meetings with various sectoral bodies and experts with the aim of crystallizing the advanced formula for the success of the Fund's objectives. Here lies my justification for taking the step for the first time.
What is real and what is required for sound and correct institutional building, and this method is something we are not accustomed to and did not touch during the era of previous governments
For this reason, we see the possibility that this fund will be a guarantee for the future of generations, whether in the development projects that will be implemented or in the future of investing the remaining funds that will be preserved for them, and that it will be an alternative opportunity for the opportunities that were lost, and this is our desire in continuing calls for the establishment of sovereign funds.
We hope for the best.
We are optimistic about the future, hoping that these steps will be serious and correct this time.
https://alsabaah.iq/87462-.html
Integrity: Al-Rasheed Bank In Basra Did Not Take Any Measures To Recover The Amount Of 13 Billion Dinars
Local| 04:25 - 11/20/2023 Mawazine News – Baghdad The Federal Integrity Commission announced today, Monday, that it had carried out seizure operations in a number of banks, municipality, real estate registration, tax and health departments in Basra Governorate.
The authority stated in a statement, received by Mawazine News, that “the Basra Investigation Directorate’s work team monitored the failure of one of the branches of Al-Rashid Bank to take the necessary legal measures to recover the amount of two loans worth (13,000,000,000) billion dinars that were granted in the year 2013;
For the purpose of establishing a project, indicating that the borrower has not repaid the amount of the two loans yet, and in the Agricultural Cooperative Bank, two loan files amounting to (40,000,000) million dinars were seized, which were granted without the knowledge of the guarantor, who explained that he had not sponsored anyone, but in Al-Rafidain Bank: It was observed that a loan worth (25,000,000) million dinars was disbursed by the bank’s former director in light of forged guarantees.”
She added, “The team, which moved to the Real Estate Registration Directorate, revealed that employees in the Basra Agriculture Directorate added disposition rights to properties owned by the Ministry of Finance, with an area of (765) dunams, pointing to the addition of disposition rights for the benefit of a group of people;
“Despite the fact that the properties are devoid of any rights to dispose of them, two defendants were arrested in the tax department in possession of tax transactions that they were promoting without legal status.”
She continued, “In the municipality of Basra - the Arabian Gulf sector, a member of the committee for distributing the salaries of civil balers was caught red-handed while deducting a certain percentage of the financial amounts owed to them in exchange for leasing their vehicles, and in the municipality of Al-Zubair, real estate preliminary information and a copy of the sectoral and secretory maps belonging to the municipality were seized.” , after the municipality tampered with it; For the purpose of changing the type of property from green land to services; In order to put it up for public bidding, in addition to the presence of recent encroachments on other properties, and the establishment of buildings and shops; Contrary to the purpose for which it was rented.”
She explained, “It revealed the embezzlement of an amount of (142,000,000) million dinars at Al-Zubair General Hospital by the ticket-sale employees, pointing out the use of forged tickets and receipts to issue tickets; In order to embezzle its amounts, adding that the investigation team in the directorate monitored that the companies contracting with the General Company for the Southern Fertilizer Industry paid social security dues to (100) workers out of (500) workers; For the purpose of evading tax accounting, pointing out that among the evading companies is a British company.”
https://www.mawazin.net/Details.aspx?Jimare=238206
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
Provoking Points to Ponder on Endurance & Perseverance:
Much rain wears the marble --Shakespeare
See first that the design is wise and just -- that ascertained -- pursue it resolutely - do not for one repulse forego the purpose that you resolved to effect -- Shakespeare
By bravely enduring - an evil which cannot be avoided is overcome -- Old Proverb
Every man who observes vigilantly and resolves steadfastly - grows unconsciously into genius -- Bulwer
No road is too long to the man who advances deliberately and without undue haste - and no honors are too distant for the man who prepares himself for them with patience -- Bruyere
The virtue lies in the struggle not in the prize -- Milnes
Perseverance and audacity generally wins -- Mad. Deluzy
Continued ……….. More to come ………….
MilitiaMan: Iraq Dinar - Central Bank of Iraq - UST - Global Confidence -
Iraq Dinar - Central Bank of Iraq - UST - Global Confidence -
MilitiaMan and Crew: 11-20-2023
The Crew: Samson, PompeyPeter, Petra, Angel1, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Iraq Dinar - Central Bank of Iraq - UST - Global Confidence -
MilitiaMan and Crew: 11-20-2023
The Crew: Samson, PompeyPeter, Petra, Angel1, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Iraq Economic News and Points to Ponder Monday Afternoon 11-20-23
Iraq Economic News and Points to Ponder Monday Afternoon 11-20-23
Tlm724 Administrator Bondlady’s Corner
Al-Nusairi: The Central Bank’s New Measures To Regulate Foreign Trade Are The Beginning Of Banking Reform And An End To The Exchange Rate Crisis
Economy News _ Baghdad Advisor to the Iraqi Private Banks Association, Samir Al-Nusairi, confirmed that the Central Bank’s recent measures and understandings with the US Federal Reserve and the banks of the countries with which Iraq has important trade exchanges and with solid international correspondent banks to open bank accounts for a new number of Iraqi banks to enhance their balances in the US dollar, the Chinese yuan, the European euro, and the Indian rupee. The UAE dirham is the beginning of banking reform and the end of the exchange rate crisis.
Iraq Economic News and Points to Ponder Monday Afternoon 11-20-23
Tlm724 Administrator Bondlady’s Corner
Al-Nusairi: The Central Bank’s New Measures To Regulate Foreign Trade Are The Beginning Of Banking Reform And An End To The Exchange Rate Crisis
Economy News _ Baghdad Advisor to the Iraqi Private Banks Association, Samir Al-Nusairi, confirmed that the Central Bank’s recent measures and understandings with the US Federal Reserve and the banks of the countries with which Iraq has important trade exchanges and with solid international correspondent banks to open bank accounts for a new number of Iraqi banks to enhance their balances in the US dollar, the Chinese yuan, the European euro, and the Indian rupee. The UAE dirham is the beginning of banking reform and the end of the exchange rate crisis.
Al-Nusairi said in an interview with Al-Iqtisad News: These banks have been approved in accordance with basic conditions and controls approved by the US Central and Federal Banks, so that these Iraqi banks can carry out external transfers by covering their external transfers from correspondent banks directly without going through the electronic platform,
and this method It will shorten the external transfer period and ensure that the transfer reaches the final beneficiary through quick mechanisms, as well as address the cases of rejection that occurred for some transfers transferred on the platform.
He added that implementation of the new agreements will begin in the coming days and weeks, and these measures will certainly be reflected in controlling the movement of the US dollar in the black market and reducing demand for it, in the hope of reducing fluctuations in exchange rates. This will be helped by a set of new instructions and mechanisms that the Central Bank intends to achieve.
Its announcement will be a sign of goodness and a breakthrough in the crisis for which the Central Bank has begun making plans and taking measures since the beginning of this year to overcome it calmly, wisely, and with the support of the government and the Association of Iraqi Private Banks.
Al-Nusairi pointed to the Central Bank’s strategy for the next stage in the field of banking reform, which is to increase banks’ capital to $400 billion, launch the national loan strategy, develop electronic payment systems, implement the procedures of the Riyada Initiative, and establish the Riyada Bank in accordance with the directives of the Prime Minister. Views 88 11/20/2023 - https://economy-news.net/content.php?id=37680
Dollar Sales Outside Iraq Increased By 91%
Economy | 01:31 - 11/20/2023 Baghdad - Mawazine News Foreign remittances increased at the Central Bank of Iraq auction, today, Monday, by 91% at the expense of cash sales, to reach $213 million.
Today, during its auction for buying and selling the US dollar, the Central Bank sold 233 million, 107 thousand and 562 dollars, which the bank covered at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at 1,310 dinars per dollar in general. monetary.
Most of the bank's dollar sales went to strengthening balances abroad in the form of (transfers, credits) which amounted to 213 million 517 thousand and 562 dollars, an increase of 91%, compared to cash sales amounting to 19 million and 590 thousand dollars.
The number of banks that purchased cash dollars reached 4 banks, while the number of banks that responded to requests to enhance balances abroad reached 17 banks, while the total number of exchange and brokerage companies participating in the auction was 46 companies.
The Minister Of Oil Confirms Commitment To Enhancing Standards Of Transparency And Governance In Wealth Management
Economy | 05:58 - 11/20/2023 Mawazine News - Baghdad, Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayyan Abdul-Ghani, confirmed today, Monday, the commitment of the government and the ministry to enhancing standards of transparency and good governance in the management of oil and gas wealth through disclosing and publishing accurate data on the reality of production, export, and revenues with high transparency, and in accordance with requirements. Transparency Initiative standards.
The Ministry stated in a statement received by Mawazine News, that “Abdul Ghani chaired the meeting of the Board of Trustees of the Natural Resources Transparency Authority, in the presence of the Executive Director of the Authority, Alaa Mohieddin, and members representing the relevant ministries, international companies, and civil society.”
Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, said, according to the statement, “The Ministry directed the national oil formations and international extractive companies operating in Iraq to provide the necessary facilities for the success of the Authority’s work and to disclose the data required to issue its annual reports in accordance with international standards.”
Abdul Ghani added, "Over the past years, the Ministry has continued to cooperate with the Authority and the relevant and supervisory authorities, in addition to positive interaction with all initiatives that achieve the goals of good governance and transparency in the oil sector."
For his part, the Executive Director of the Authority, Alaa Mohieddin, praised the support of the Deputy Prime Minister for Energy Affairs and Minister of Oil for the work and tasks of the Authority in order to enhance Iraq’s role in building bridges of trust with the international community.
Mohieddin pointed out, "The meeting included a review of the tasks, duties, and obligations of the concerned parties to achieve common goals, in addition to examining the required standards and discussing the continuation of cooperation and strengthening the relationship between Iraq, the World Bank, and the International Secretariat of the Transparency Initiative."
The Ministry stated, "At the conclusion of the meeting, it was emphasized to adhere to the standards and principles approved by the International Secretariat of the Transparency Initiative, and to work to develop the work of the Transparency in Natural Resources Authority.
The Central Bank Warns Against The Misuse Of Electronic Payment Cards Outside Iraq
Economy | 09:52 - 11/20/2023 Baghdad - Mawazine News The Central Bank of Iraq warned on Monday against the misuse of electronic payment cards outside Iraq.
The bank’s media stated in a statement, received by Mawazine News, “We warn against some misusing the electronic payment cards it provides to meet the natural, legitimate needs of citizens.”
According to the statement, the bank stressed “its commitment to implementing strict measures to reduce this phenomenon and protect the financial system and ward off risks from it,” indicating that it “will include the names of bank card holders whose misuse or smuggling is caught on blacklists and take legal measures against this group.”
He pointed out that "they will be deprived of issuing other cards and all financial products, and all necessary measures will be taken against violators, based on the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2015 and the instructions and controls issued pursuant to it."
https://www.mawazin.net/Details.aspx?jimare=238166
/The Central Bank Sells More Than $233 Million In Its Auction
Monday 20, November 2023 14:23 | Economical Number of readings: 312 Baghdad / NINA / The Central Bank of Iraq sold, in its currency auction today, Monday, more than 233 million dollars.
The Central Bank stated in a statement that it sold today, 233 million, 107 thousand and 562 dollars, which it covered at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements of electronic cards, and at a price of 1,310 dinars per dollar for external transfers and in cash.
He added that “most of The bank’s dollar sales went to strengthen balances abroad in the form of (transfers, credits) amounting to 213 million 517 thousand and 562 dollars, an increase of 91% over cash sales amounting to 19 million 590 thousand dollars. He pointed out that “the banks that bought the dollar
The number of cash banks reached 4, while the number of banks that responded to requests to enhance balances abroad reached 17 banks, and the total number of exchange and brokerage companies participating in the auction was 46 companies. https://ninanews.com/Website/News/Details?key=1090983
Dollar Prices In Baghdad On Monday Evening
Time: 11/20/2023 Read: 1,859 times {Economic: Al-Furat News} The price of the dollar recorded an increase this evening, Monday, against the Iraqi dinar with the closure of the markets.
With the closure of the Al-Kifah and Al-Harithiya stock exchanges, dollar prices recorded $157,800 against $100, while this morning they recorded $157,500 against $100.
Until the selling prices in the exchange shops in the local markets in Baghdad also rose, as the selling price reached 158,750 Iraqi dinars for 100 dollars, while the purchase price reached 156,750 dinars for 100 dollars. LINK
The Iraqi Stock Exchange Closed Up By 0.18%
Market Economy News – Baghdad The Iraqi Stock Exchange closed, rising for the second day in a row this week, by 0.18%. The session traded shares of 21 companies, with the number of shares traded reaching more than 751.5 million shares, worth more than 1.2 billion dinars.
United Bank shares rose by 12.5%, followed by Mosul Bank by 10%, and Sumer Bank by 8.3%.
Mineral and bicycle stocks fell by 4.3%, followed by seed production by 3.05%.
Views 36 11/20/2023 - https://economy-news.net/content.php?id=37688
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
Provoking Points to Ponder on Endurance & Perseverance:
He conquers who endures -- Persius
I feel that most of you reading this not only know the meaning of endurance and perseverance but know it first hand by being tested through the investment --
Moses did not give up - Columbus did not give up - Lewis & Clarke did not give up - The Wright brothers did not give up -- Thomas Edison did not give up - It was Napoleon who said - "Victory belongs to the most persevering" --
Great strides are made by Pressing Down - Pressing Through - and Pressing On !!
I trust you will read these wonderful quotes from some very brave and persistent people from our past -- Their lives and their quotes are an inspiration for me to keep pressing !! I hope they will be encouraging and inspiring to you as well -
ENDURANCE -- Not in the achievement, but in the endurance of the human soul, does it show its divine grandeur, and it alliance with the infinite God -- E H Chapin
The greater the difficulty - the more glory in surmounting it -- Skillful pilots gain their reputation from storms and tempests -- Epicurus
Hard pounding - gentlemen; but we will see who can pound the longest -- Wellington at Waterloo
Victory belongs to the most persevering -- Napoleon
The divine insanity of noble minds - that never falters nor abates - but labors - endures - and waits - till all that it foresees it finds - or what it cannot find - creates -- Longfellow
The palm tree grows best beneath a ponderous weight - and even so the character of man -- The petty pangs of small daily cares have often bent the character of men - but great misfortunes seldom -- Kossuth
There is nothing in the world so much admired as a man who knows how to bear unhappiness with courage -- Seneca
Our strength often increases in proportion to the obstacles imposed upon it -- It is thus we enter upon the most perilous plans after having had the shame of failing in more simple ones -- Rapin
The difference between perseverance and obstinacy is -- that one often comes from a strong will and the other from a strong won't -- H W Beecher
Iraqi News Highlights and Points to Ponder Monday AM 11-20-23
Iraqi News Highlights and Points to Ponder Monday AM 11-20-23
Economist: Soon Solutions Will Lead To A Decline In The Dollar And Turbulent Monetary Policy In Iraq
Time: 11/19/2023 Read: 3,289 times {Economic: Al-Furat News} The economic expert, Abdul Rahman Al-Mashhadani, revealed close solutions that would lead to a decline in the dollar, while describing monetary policy as “turbulent in Iraq.”
Al-Mashhadani said: For the {State Dialogue} program broadcast by Al-Furat satellite channel this evening, he said: “In the coming days, there are solutions that will lead to lowering the exchange rate, as we have 5 Iraqi banks that have partnerships with solid international banks and have a high reputation and capital.”
Iraqi News Highlights and Points to Ponder Monday AM 11-20-23
Economist: Soon Solutions Will Lead To A Decline In The Dollar And Turbulent Monetary Policy In Iraq
Time: 11/19/2023 Read: 3,289 times {Economic: Al-Furat News} The economic expert, Abdul Rahman Al-Mashhadani, revealed close solutions that would lead to a decline in the dollar, while describing monetary policy as “turbulent in Iraq.”
Al-Mashhadani said: For the {State Dialogue} program broadcast by Al-Furat satellite channel this evening, he said: “In the coming days, there are solutions that will lead to lowering the exchange rate, as we have 5 Iraqi banks that have partnerships with solid international banks and have a high reputation and capital.”
He added, "The partnership with Qatar National Bank gives strength to Iraqi banks, while Iraq and Iran deal with a third currency in commercial transactions, reducing the price of the dollar."
Al-Mashhadani described the current monetary policy in Iraq as “turbulent and is merely a buffer to absorb the mistakes of previous trade policies, and it is not compatible with the actual need.”
He added, "The platform detected 90 percent of the manipulations and problems in transfers. Some contracts were gateways to corruption and money laundering, and half of the invoices presented for imports were forged."
Al-Mashhadani pointed out that "the food sector accounts for approximately 41 percent of the inflation equation, and exchange rate fluctuations affect various sectors in addition to the psychological factor."
He concluded by saying, "80% of transfers were rejected by the US Federal Bank for no reason, and the delay in rejected transfers forces merchants to buy from the parallel market." Wafaa Al-Fatlawi LINK
Masrour Barzani: Repeated Violations Of The Iraqi Constitution Threaten Stability And Portend The Return Of Sectarianism
2023-11-20 01:23 Shafaq News / The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, confirmed on Monday that the Middle East is witnessing existential challenges, most notably climate change, and while he warned that this will lead to an exacerbation of food insecurity, water scarcity and mass migration, he pointed out that the region is also witnessing a renewal of violence. This represents a threat to peace and security.
In an opening speech at the fourth meeting of the Middle East Peace and Security Forum, hosted by the American University of Kurdistan in the city of Dohuk, Barzani stressed the importance of working to find peaceful solutions to conflicts in the region.
He stated that the Palestinian and Kurdish issues require the same rights and dignity.
He also expressed his concern about the recent developments in Iraq, stressing that repeated violations of the Constitution threaten stability and herald the return of sectarianism.
The Prime Minister also said that unilateral decisions and the exclusivity of one group in government institutions will exacerbate corruption, injustice, poverty and rebellion. LINK
Dollar Prices Stabilize In Baghdad And Erbil With The Closure Of The “Al-Kifah And Al-Harithiya” Stock Exchanges
Posted On2023-11-20 By Sotaliraq 2023-11-19 The exchange rates of the US dollar against the Iraqi dinar stabilized on Sunday in Baghdad and Erbil, the capital of the Kurdistan Region, with the closure of the two stock exchanges.
Our correspondent said that dollar prices stabilized with the closure of the main Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 157,900 Iraqi dinars against 100 dollars, which are the same prices that were recorded this morning.
Our correspondent indicated that selling prices in exchange shops in local markets in Baghdad stabilized, as the selling price reached 158,750 Iraqi dinars for 100 dollars, while the purchase price reached 156,750 dinars for 100 dollars.
In Erbil, the dollar also recorded stability, as the selling price reached 158,000 dinars for every 100 dollars, and the purchasing price was 157,900 dinars for every 100 dollars. LINK
Source: Trade Gold, Cars, Phones And Cigarettes On The Dollar Selling Platform
Economy 2023-11-20 | 3,264 views Al-Sumaria News – Economy A government source revealed, on Monday, that trade in gold, cars, mobile phones and cigarettes will soon be on the dollar selling platform, considering that it will be the catalyst for importers of these goods to abandon the process of purchasing and transferring dollars through the parallel market to the dollar.
The source said in an interview with Al-Sumaria News, “Based on the Prime Minister’s directives regarding regulating trade and import operations for some materials and goods, most of which are financed from the parallel market and the negative effects it has on the stability of exchange rates, the Ministerial Council for the Economy will consider proposing important decisions to facilitate and simplify... Procedures for importers of gold goods, cars, mobile phones, and cigarettes to enter the foreign money transfer platform.
The source added, "These decisions and instructions will be the catalyst for importers of these goods to abandon the process of buying and transferring dollars through the parallel market for the dollar and direct them towards the platform for the foreign currency selling window in the Central Bank of Iraq at the official price."
The source pointed out that "this will have a positive and significant impact on reducing the price of the dollar in the parallel market, as trade in the above materials contributes the largest proportion of the demand for the dollar in that market." LINK
Provoking Points To Ponder From Seedtime Quotes That Will Change How You Look At Money
We live in a society where instant gratification is a state of mind, a way of life. And, we have incredible debts as a result. Debts that weigh heavy on our shoulders.
As I remember conversations I have had with my Grandma, I noticed my way of looking at money is very different than how she and her generation looks at money. If she can’t afford something, she goes without.
Yet, those of my generation will have what they want when they want it, with little exception.
She and my Grandpa were business owners yet they only ever owned one home, a moderately sized ranch… in which they only built when they could afford to do so.
Today, I see peers buying HUGE homes that come with HUGE mortgages, and they keep wanting… More… Better… Bigger.
A few years back my Husband and I decided to get out of the mentality we had been sucked into by trying to “keep up” with our siblings, friends and neighbors. This is the BEST thing that we could have ever done for our finances and our stress levels.
It is freeing not having the weight of debt on our shoulders. No more store cards. No more credit card balances. No more HUGE mortgage. No more car payments.
We simplified our life and our marriage is better off for it. We have more time with each other. More means to give. Less stress. Less worry.
There’s two pieces of advice from my Grandma (she still advises me to this very day!) that I would like to pass on to you:
You can buy anything, the trick is… how to pay for it.
When you’re at the store and you have your eye on something, ask yourself “Is this a want, or is this a need?” If it’s a want, go home. Ponder over it. And after some time passes and you still want it (and you can afford it), treat yourself to that purchase.
Grandmas not only make the best cookies, but they also give the best advice!
To help you on your journey, I have found more advice that you will want to remember (even pin, too!). Here’s to having a healthier relationship with our money!
“The Price of Anything is the amount of Life You Exchange for it!”
“Money is numbers & numbers never end. If it takes money to be happy, your search for happiness will never end!”
“When God blesses you financially, don’t raise your standard of living, raise your standard of giving!”
“If you can’t pay cash, you can’t afford it!”
Continued……………. More to come ……….
Goldilocks' Comments and Global Economic News Monday AM 11-20-23
Goldilocks' Comments and Global Economic News Monday AM 11-20-23
Good Morning Dinar Recaps,
The JPM Coin is continuing to grow by doing another pilot study with Avalanche. The Onyx coin is a deposit token that upgrades existing traditional banking system payments.
It does cross-border international trading, foreign currency exchanges, bank-to-bank transfers, and more. This network system is the same one JP Morgan used to set up Iraq and other countries in the Middle East inside their Banks.
Goldilocks' Comments and Global Economic News Monday AM 11-20-23
Good Morning Dinar Recaps,
The JPM Coin is continuing to grow by doing another pilot study with Avalanche. The Onyx coin is a deposit token that upgrades existing traditional banking system payments.
It does cross-border international trading, foreign currency exchanges, bank-to-bank transfers, and more. This network system is the same one JP Morgan used to set up Iraq and other countries in the Middle East inside their Banks.
The use of this network is beginning to really expand in its net worth and level of trust with banks who are used to using this line of payment making it a preferred digital system for traditional banking clients and soon-to-be customers.
© Goldilocks
CrowdFundInsider Link
~~~~~~~~~~
GAME OVER! BIS & SWIFT Just COMPLETED A STRESS TEST With RIPPLE/XRP! [MUST SEE]
https://www.youtube.com/watch?v=h1WOa73GLJk
~~~~~~~~~~
Soaring U.S. government debt is reaching a point where it will begin creating larger problems, Bridgewater Associates founder Ray Dalio said Friday.
The hedge fund titan warned during a CNBC appearance that the need to borrow more and more to cover deficits will exacerbate the political and social problems the country is facing. CNBC Link
~~~~~~~~~~
Many investors believe that the Chinese economy has bottomed. This is creating a rise in the metal market and especially in the Copper Market. Iron ore is also beginning to show signs of rising in their Market.
We are currently witnessing the US Dollar and Chinese Yuan pair go into decline. China is witnessing a shift from a stock market-driven economy to a commodity-driven Market.
These are the inflection points we need to see in order to transition all of our markets into a commodity-based economy.
China keeps putting money into their Gold Market while we keep putting money into our stock market. At the current time, the Eastern half of the world is beginning to show signs of driving the price of gold and other commodities instead of the West.
Are you still saving those copper pennies?
© Goldilocks
https://www.investorsobserver.com/news/qm-news/6905388922418277
GLEscrap Link
~~~~~~~~~~
While the adoption of CBDCs is not immediate, about 60% of countries are exploring them and recognizing their potential to enhance financial inclusion, she said—especially in regions where traditional banking is scarce. The IMF's own—and newly released — CBDC Virtual Handbook echoes this sentiment, noting that CBDCs, if well-designed, could help bridge financial divides and promote more inclusive growth. (https://www.imf.org/en/Topics/fintech/central-bank-digital-currency/virtual-handbook)
https://www.nation.lk/online/cbdcs-could-replace-cash-in-global-finance-says-imf-240329.html
~~~~~~~~~~
A leading global standard-setter for securities market regulators has released its highly anticipated Final Report with Policy Recommendations for Crypto and Digital Asset (CDA) Markets.
This development marks a significant step in providing a coordinated global regulatory response to the evolving landscape of crypto-assets.
The 18 policy recommendations (by the International Organization of Securities Commissions (IOSCO) aim to address significant investor protection and market integrity risks posed by crypto-asset activities, particularly those involving centralized crypto-asset intermediaries, known as crypto-asset service providers (CASPs). https://www.iosco.org/library/pubdocs/pdf/IOSCOPD747.pdf)issued
These recommendations are aligned with IOSCO's widely accepted global standards for securities markets regulation and follow a lifecycle approach, encompassing activities from offering admission to trading to ongoing trading, settlement, market surveillance, custody, and retail distribution.
Benzinga Link
👆 Goldilocks pointed to this.
~~~~~~~~~~
GAME OVER! BIS & SWIFT Just COMPLETED A STRESS TEST With RIPPLE/XRP! [MUST SEE]
https://youtu.be/h1WOa73GLJk?feature=shared
~~~~~~~~~~
U.S. Department of the Treasury, IRS Propose New Rules to Drive Clean Energy Investments | U.S. Department of the Treasury
https://home.treasury.gov/news/press-releases/jy1920
~~~~~~~~~~
Gold Is the Next 13-Year Breakout | GoldSeek
https://goldseek.com/article/gold-next-13-year-breakout
~~~~~~~~~~
DTCC Handles $464 Trillion In Settlements..XRP ONLY Needs $2.2 Tn In DAILY VOLUME To PASS $100!
https://youtu.be/h-v8Noq2nL4?feature=shared
~~~~~~~~~~
Banks that survive the housing market crash will move forward into the new QFS.
© Goldilocks
NoradaRealEstate Link 1
NoradaRealEstate Link 2
NoradaRealEstate Link 3
~~~~~~~~~~
Baghdad (IraqiNews.com) – "The Iraqi President, Abdul Latif Rashid, confirmed on Sunday that Iraq is eager to establish balanced relations with everyone, calling on foreign companies and businessmen to invest in the Iraqi market."
Iraq is ready to do business with the world again in Iraqi Dinar come January 1st 2024. Their president is calling for foreign companies to do business with them.
As they continue to prepare their Banks for the coming year, we see in this article their eagerness to work with investors outside of their own country.
This will require foreign currency exchanges in and out of Iraq with new banking reforms established to help them meet their goals.
One of the ways to help them meet these goals came in an article that stated "CBI to open accounts in euros in Turkish banks to enhance transfers."
Another way to achieve these goals came in another article that stated they were going to increase the balances of 5 Iraqi banks in UAE Dirham.
© Goldilocks
Iraqi News Link 1
~~~~~~~~~~
"In the latest adherence to the BRICS de-dollarization efforts, India and Egypt have held discussions in attempts to ditch the US dollar within their trade relations. Indeed, Egypt was one of six nations invited to join the bloc at its 2023 annual summit. Now, its trade with the original BRICS member is set to be settled in local currencies."
More countries are ditching the dollar's use in trade and moving towards local currencies. Iraq is also looking to work with India in doing the same.
This is becoming a very common theme in the Eastern and Asian countries. Abandoning the use of the dollar in trade will increase demand on local currencies giving more value to these countries' currency.
Remember, over 80% of trade that takes place around the world is carried over the sea.
Watch the water.
© Goldilocks
https://watcher.guru/news/brics-india-egypt-ditch-us-dollar-for-trade#google_vignette
UNCTAD Link
~~~~~~~~~~
"Sri Lanka central bank to move to a floating rate, end foreign reserve collection: report"
Sri Lanka used to utilize the dollar in trade and found that skyrocketing inflation has hurt their economy, so they are making a change.
Sri Lanka is moving to a floating exchange rate allowing demand for their local currency to determine their exchange rate going forward.
This new monetary policy change allows them to hold less foreign currency reserves in their banking system and utilize less currency intervention giving free trade the opportunity to determine their currency's value.
The IMF has recommended that they hold at least 3 months of foreign currency value in their reserves.
Watch the water.
© Goldilocks
https://economynext.com/sri-lanka-central-bank-to-move-to-a-floating-rate-end-foreign-reserve-collection-report-140561/
~~~~~~~~~~
Follow Goldilocks' Roadmap
Follow Goldilocks' Timeline
Goldilocks' Telegram Room
Q & A Telegram Room
Goldilocks on the Seeds of Wisdom Team™ Website
Subscribe to Newsletter
Thank you Dinar Recaps - www.DinarRecaps.com
"Tidbits From TNT" Monday 11-20-2023
TNT:
Tishwash: Iraq: Trade gold, cars, mobile phones and cigarettes on the dollar selling platform soon
A government source reported today, Monday (November 20, 2023), that directives have been issued to adopt trade in gold, cars, mobile phones, and cigarettes within the dollar selling platform soon.
The source explained in an interview with "Baghdad Today", "Based on the Prime Minister's directives regarding regulating trade and import operations for some materials and goods, most of which are financed from the parallel market and the negative effects it has on the stability of exchange rates, the Ministerial Council for the Economy will consider proposing important decisions to facilitate and simplify... Procedures for importers of goods (gold, cars, mobile phones, and cigarettes) to enter the foreign money transfer platform.
TNT:
Tishwash: Iraq: Trade gold, cars, mobile phones and cigarettes on the dollar selling platform soon
A government source reported today, Monday (November 20, 2023), that directives have been issued to adopt trade in gold, cars, mobile phones, and cigarettes within the dollar selling platform soon.
The source explained in an interview with "Baghdad Today", "Based on the Prime Minister's directives regarding regulating trade and import operations for some materials and goods, most of which are financed from the parallel market and the negative effects it has on the stability of exchange rates, the Ministerial Council for the Economy will consider proposing important decisions to facilitate and simplify... Procedures for importers of goods (gold, cars, mobile phones, and cigarettes) to enter the foreign money transfer platform.
He added, "These decisions and instructions will be the catalyst for importers of these goods to abandon the process of buying and transferring dollars through the parallel market for the dollar and direct them towards the platform for the foreign currency selling window in the Central Bank of Iraq at the official price."
The source confirmed, "This will have a positive and significant impact on reducing the price of the dollar in the parallel market, as trade in the above materials contributes the largest proportion of the demand for the dollar in that market link
**************
Tishwash: The President of the Republic from Baku: We hope that foreign companies and businessmen will enter the Iraqi market
The President of the Republic, Abdul Latif Jamal Rashid, confirmed that Iraq is keen to establish balanced relations with everyone, calling for the entry of foreign companies and businessmen into the Iraqi market.
Rashid said during a reception held by the Iraqi embassy in Azerbaijan, for heads of diplomatic missions and ambassadors in Baku, as well as a number of Azerbaijani ministers, parliamentarians and officials, that “Iraq attaches great importance to establishing security and stability and moving toward providing services to citizens, rehabilitating infrastructure, and improving the standard of living of citizens through developing Economy and investment.”
He added, “The Iraqi government has developed an ambitious and important program to establish the foundations of security stability in the country and move to providing health and educational services and revitalizing the Iraqi economy by expanding trade exchange and encouraging investors and businessmen to work in Iraq in order to achieve sustainable development in the country.”
The President of the Republic expressed his hope that Azerbaijani and European companies and businessmen will enter the Iraqi market, indicating that Iraq is keen to provide facilities and approve the necessary legislation in this regard.
He touched on the situation in Gaza, where His Excellency stressed Iraq's firm position towards the Palestinian issue and its rejection of the ongoing violations and aggression against the Palestinians.
The President stressed that Iraq has good relations with neighboring countries and the world, starting from establishing balanced relations with everyone on the basis of respect for Iraqi sovereignty, the independence of Iraqi decision-making, common interests, and continuous cooperation between Iraq and its Arab and regional surroundings.
Regarding relations with Azerbaijan, he stressed that Iraq desires to consolidate relations between the two countries at various levels to include many sectors, especially tourism, economic and cultural, in a way that serves common interests.
The President reviewed the challenges facing the region in the field of water and climate change and their impact on all aspects of life. link
**************
Tishwash: Parliamentary wealth calls on the government to send the oil and gas law
The Oil, Gas and Natural Resources Committee of the House of Representatives called on the government to expedite sending the oil and gas law to the committee in order to study and approve it to control the pace of revenues from the sale of oil.
Committee member Nazem Al-Shibli stated that “95 percent of the Iraqi budget depends on oil revenues, and there are major failures due to the failure to legislate the oil and gas law, which, if legislated, will control the pace of oil revenues issued by the regional government.”
He added, in an interview with “Al-Sabah” followed by “Al-Iqtisad News,” that “the stage requires documenting the law and intensifying the Oil and Gas Committee’s oversight of the performance of the Ministry of Oil, which there were many comments on its performance, and it requires the intervention of the Prime Minister to control the work of agents and general managers in The Ministry of Oil, which we consider an unconvincing performance.”
Al-Shibli explained that there are “obstacles within the oil and gas law itself, including the condition of selling from SOMO, and the committee is waiting for the government to send the law to control the rhythm of oil revenues, because oil is a natural wealth for all the Iraqi people, but the difference in authorities affected the legislation of the law, especially since passing the law is the solution.” “The only way to unify wealth,” noting that “there are great indicators of the performance of the Ministry of Oil.”
For her part, a member of the Oil, Gas and Natural Resources Committee, Thanaa Al-Rubaie, indicated in an interview with “Al-Sabah” that “the failure to approve the oil and gas law negatively affected the pace of development of the oil sector and led to major losses to the budget,” stressing that “the committee calls on the government and the blocs “The policy is to resolve agreements on the oil and gas law and approve it in order to control the pace of the oil sector and intensify work on it because it is the basis of the budget.”
She explained, “The committee, through its supervisory position, and according to the information it received, contaminated oil was sold due to money laundering,” confirming, “a subcommittee was formed to follow up on the sale of contaminated oil, and recommendations were made, including exempting officials in the Ministry of Oil from selling contaminated oil.”
She stated, "The committee, over the course of 6 months, followed up on the issue and made major decisions. Therefore, the committee in this parliamentary session is considered effective and strong. The subcommittee received the support of the Prime Minister and came up with important and useful recommendations. The employees concerned were diagnosed with selling the contaminated shipment and they were exempted and transferred."
To the judiciary, while it was proven after research and review that the process is money laundering,” and she continued, “
The committee is working with the Ministry of Oil to move and develop the gas investment file, and there is a sixth licensing round for gas investment link
Mot: .......... Siiggghhhhhhhhhhh fur the 503rd time!!
Mot: .. This Weeks Forecast!!! ~~~~~
Iraq Economic News and Points to Ponder Sunday Evening 11-19-23
Iraq Economic News and Points to Ponder Sunday Evening 11-19-23
Tlm724 Administrator Bondlady’s Corner
Parliamentary Finance: Speculators Continue To Manipulate The Selling Prices Of Goods And Commodities Under The Pretext Of The Dollar
Economy | 12:29 - 11/19/2023 Baghdad - Mawazine News The Parliamentary Finance Committee confirmed, on Sunday, that price speculators continue their suspicious trade by manipulating the selling prices of goods and commodities to an exaggerated extent under the pretext of the rise in the price of the dollar.
Iraq Economic News and Points to Ponder Sunday Evening 11-19-23
Tlm724 Administrator Bondlady’s Corner
Parliamentary Finance: Speculators Continue To Manipulate The Selling Prices Of Goods And Commodities Under The Pretext Of The Dollar
Economy | 12:29 - 11/19/2023 Baghdad - Mawazine News The Parliamentary Finance Committee confirmed, on Sunday, that price speculators continue their suspicious trade by manipulating the selling prices of goods and commodities to an exaggerated extent under the pretext of the rise in the price of the dollar.
The head of the committee, Atwan Al-Atwani, said in a statement, a copy of which was received by Mawazine News, that “despite the government’s keenness to provide all the necessary financial facilities and support to all merchants, the greedy among them and the speculators are still living off crises by maximizing their profits and inflating their coffers, at the expense of their livelihood.” the poor".
He added, "These speculators and profiteers did not give any consideration or respect to the government's commitment to provide hard currency for their commercial transactions through the official Central Bank platform, as they continue their suspicious trade by manipulating the selling prices of goods and commodities to an exaggerated extent under the pretext of the high price of the dollar, even though they import them at the official price." ".
Al-Atwani called on “the government and its regulatory agencies to tighten control over the market, to ensure price stability, and to impose the harshest penalties on weak-minded traders, so that they can serve as an example to others.” https://www.mawazin.net/Details.aspx?jimare=238105
Decrease In Dollar Prices In Baghdad Markets... 158 Thousand For Every 100 Dollars
Time: 11/19/2023 Read: 1,495 times {Economic: Al-Furat News} Dollar prices fell today, Sunday, in Baghdad markets The prices were as follows.. The selling price was 158,750 Iraqi dinars, while the purchase amounted to 156,750 dinars per 100 dollars. LINK
https://alforatnews.iq/news/%D8%A5%D9%86%D8%AE%D9%81%D8%A7%D8%B6-%D8%A7%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%81%D9%8A-%D8%A7%D8%B3%D9%88%D8%A7%D9%82-%D8%A8%D8%BA%D8%AF%D8%A7%D8%AF-158-%D8%A7%D9%84%D9%81%D8%A7%D9%8B-%D9%84%D9%83%D9%84-100-%D8%AF%D9%88%D9%84%D8%A7%D8%B1
Parliamentary Finance The Government Is Keen To Provide The Necessary Financial Facilities And Support To Merchants
Sunday 19, November 2023 13:09 | Economical Number of readings: 514 Baghdad / NINA / The Parliamentary Finance Committee called on Sunday to tighten control over the market and punish speculative traders.
The head of the committee, Atwan Al-Atwani, said in a statement: “Despite the government’s keenness to provide all the necessary financial facilities and support to all merchants, the greedy among them and the speculators are still living off crises by maximizing their profits and inflating their coffers, at the expense of the livelihood of the poor, by manipulating the financial markets.” The selling prices of goods and commodities are exaggerated under the pretext of the high price of the dollar, even though they import them at the official price.”
The Chairman of the Parliamentary Finance Committee called on “the government and its supervisory bodies to tighten control over the market, to ensure price stability, and to impose the harshest penalties on weak-minded traders, so that they can be an example to others.”/End 11
The Central Bank Warns Of Fake Websites Impersonating It
Economy News – Baghdad On Sunday, the Central Bank of Iraq warned the public of the existence of fake websites impersonating its identity .
The bank confirmed in a statement received by Al-Eqtisad News that “the fake websites deceive users into performing some transactions related to this bank and entering transfer data .”
The bank called on “the public not to deal with fake websites,” pointing out that “the official website of the Central Bank of Iraq is (https://cbi.iq).” Views 4 Added 11/19/2023 - 7:14 PM
https://economy-news.net/content.php?id=37666
Parliamentary Finance Intends To Host The Central Bank Governorate And Why?
Time: 11/19/2023 Read: 819 times {Local: Al-Furat News} A member of the Parliamentary Finance Committee revealed, today, Sunday, the committee’s intention to host the Governor of the Central Bank against the backdrop of depositing funds in dollars.
Ali Jabbar Mu'nis said {to Al-Furat News} that: "There must be a solution to the issue of depositing funds in dollars and delivering them to depositors in dinars and at the official rate, which exposes depositors to great losses."
He pointed out, "The difference between the parallel and official price of the dollar is not slight, and it exposes them to loss and takes away the rights of depositors," describing this matter as a "big problem."
Mu'nis added, "The file will be discussed in the Finance Committee, hosted by the Governor of the Central Bank and bank managers, for the purpose of reaching solutions and solutions." LINK
https://alforatnews.iq/news/%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D9%86%D9%8A%D8%A7%D8%A8%D9%8A%D8%A9-%D8%AA%D8%B9%D8%AA%D8%B2%D9%85-%D8%A7%D8%B3%D8%AA%D8%B6%D8%A7%D9%81%D8%A9-%D9%85%D8%AD%D8%A7%D9%81%D8%B8%D8%A9-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%88%D8%A7%D9%84%D8%B3%D8%A8%D8%A8%D8%9F
Iraq's Oil Exports Have Declined In Recent Months
Sunday 19, November 2023 11:54 | Economical Number of readings: 446 Baghdad / NINA / The total oil exports to 5 Arab countries, including Iraq, declined during the past nine months of this year by 9%, on an annual basis, according to data from the Energy Research Unit.
The average total crude exports (Saudi Arabia, Iraq, Kuwait, Bahrain, and Egypt) decreased to 12 million barrels per day, during the period from January (2023) until the end of last September, compared to 13.13 million barrels per day during the same period (2022), according to data from the Bayanat Initiative. Joint Organizations (JODI).
The average Iraqi oil exports decreased to 3.45 million barrels per day, during the period from January to the end of September 2023, compared to 3.7 million barrels per day in the same period in 2022. Despite the decline, the quantities of Iraq’s crude oil exports
improved in the third quarter of this year, after... In the second quarter, it recorded its lowest level this year.
Last April recorded the lowest amount of Iraqi oil exports over the nine months at 3.28 million barrels per day, while February was the best at 3.73 million.
Preliminary government estimates indicate that Iraqi oil exports in October amounted to about 3.533 million barrels per day. /End 11 https://ninanews.com/Website/News/Details?key=1090709
Al-Sudani Stresses The Importance Of Investing In The Relative Rise In Oil Prices By Increasing Financial Allocations
Political | 11/19/2023 Baghdad - Mawazine News Prime Minister Muhammad Shiaa Al-Sudani stressed today, Sunday, the importance of investing in the relative rise in global oil prices, while indicating work to develop the electricity sector and the integrated energy projects plan program.
Al-Sudani’s office stated in a statement, a copy of which was received by Mawazine News, that “Prime Minister Muhammad Shia’ al-Sudani chaired this morning the regular meeting for following up on the Ministry of Oil and oil projects, and the progress of implementation of the Ministry’s plans prepared to develop the oil sector in Iraq, in the presence of the Minister of Oil.” And the senior staff in the ministry, and the Prime Minister’s advisors for oil and energy affairs.”
He added, "The meeting witnessed a review of projects in the extraction and distribution sectors, the export hub, gas and refinery projects, completion rates, and the most prominent problems facing implementation, in addition to discussing the investment opportunities announced by the ministry in 2023."
He continued, "During the meeting, Al-Sudani reviewed the results of the discussions held between the Ministry of Oil in the Federal Government and the Ministry of Natural Resources in the Kurdistan Regional Government of Iraq, in order to complete the procedures for re-exporting crude oil through the Turkish port of Ceyhan."
Al-Sudani stressed, according to the statement, “the necessity of advancing this vital sector, with all its aspects, because it is linked to the state’s plans and the desired development,” noting “the importance of investing in the relative rise in global oil prices, in increasing financial allocations through optimal investment of oil and gas.”
He stated, "Oil constitutes the main source of income, and the government is working to develop the oil sector and other sectors related to the chemical, petrochemical, and fertilizer industries, in accordance with what was stated in its government program, as well as developing the electricity sector and working on the integrated energy projects plan program," pointing to "the government's policy in Continue to provide support at the level of solutions, policies and decisions.” Ended 29/h
https://www.mawazin.net/Details.aspx?jimare=238110
To read more current and reliable Iraqi news please visit BondLady’s Corner:
Provoking Points to Ponder on FEAR for Living the Bold Life by Tess Marshall
94. If we let things terrify us, life will not be worth living. ~ Seneca
95. So now I know. I fear the unknown so deeply that I’d rather repeat the same heart-breaking pattern than face something or someone I can’t predict. ~ Valerie Frankel
96. But that inadequacy, or feeling of inadequacy, never really goes away. You just have to trudge ahead in the rain, regardless. ~ Lorrie Moore
97. Devour your fear. ~ Simon Holt
98. What frightens us today is exactly the same sort of thing that frightened us yesterday. It’s just a different wolf. This fright complex is rooted in every individual. ~ Alfred Hitchcock
99. Our tongues can’t compete with the rapid thinking of our brains, our words come out slow and slurred. The pen is our haven. There is a lot of fear buried into that little pen. It holds all of our agony, our torment, our blood and our heaven. ~ Coco J. Ginger
100. Most of us try to do too much because we are secretly afraid we will not be able to do anything at all. ~ Rick Aster
101. Of all the questions I have asked my readers this is the most important: What would you do if you weren’t afraid? When you finally give wings to that answer then you have found your life’s purpose. ~ Shannon L. Alder
https://theboldlife.com/2012/07/101-unusual-quotes-on-fear-for-living-the-bold-life/
Iraqi News Highlights and Points to Ponder Sunday AM 11-19-23
Iraqi News Highlights and Points to Ponder Sunday AM 11-19-23
Al-Sudani Stresses The Importance Of Investing In High Oil Prices To Increase Financial Allocations
Time: 11/19/2023 Read: 572 times {Politics: Al-Furat News} Prime Minister Muhammad Shiaa Al-Sudani chaired, this Sunday morning, the regular meeting to follow up on the Ministry of Oil and oil projects, and the progress of implementation of the Ministry’s plans prepared to develop the oil sector in Iraq, in the presence of the Minister of Oil, the Ministry’s senior staff, and the Prime Minister’s advisors. For oil and energy affairs.
Iraqi News Highlights and Points to Ponder Sunday AM 11-19-23
Al-Sudani Stresses The Importance Of Investing In High Oil Prices To Increase Financial Allocations
Time: 11/19/2023 Read: 572 times {Politics: Al-Furat News} Prime Minister Muhammad Shiaa Al-Sudani chaired, this Sunday morning, the regular meeting to follow up on the Ministry of Oil and oil projects, and the progress of implementation of the Ministry’s plans prepared to develop the oil sector in Iraq, in the presence of the Minister of Oil, the Ministry’s senior staff, and the Prime Minister’s advisors. For oil and energy affairs.
A statement from the Prime Minister’s Office, a copy of which {Al-Furat News} received, stated, “The meeting witnessed a review of projects in the extraction and distribution sectors, the export axis, gas and refinery projects, completion rates, and the most prominent problems facing the progress of implementation, in addition to discussing the investment opportunities announced by the ministry in 2023.” .
The Prime Minister stressed the need to advance this vital sector, in all its aspects. Because it is linked to the state’s plans and desired development, pointing to the importance of investing in the relative rise in global oil prices, in increasing financial allocations through optimal investment of oil and gas.
He pointed out that oil constitutes the main source of income, and the government is working to develop the oil sector and other sectors related to the chemical, petrochemical, and fertilizer industries, according to what was stated in its government program, as well as developing the electricity sector and working on the integrated energy projects plan program, pointing to the government’s policy of continuing to provide Support at the level of solutions, policies and decisions.
During the meeting, Al-Sudani was briefed on the results of the discussions held between the Ministry of Oil in the Federal Government and the Ministry of Natural Resources in the Kurdistan Regional Government of Iraq, in order to complete the procedures for re-exporting crude oil through the Turkish port of Ceyhan. LINK
Does The Fluctuation Of Oil Prices Affect Iraq's Budget? A Government Advisor Responds
Time: 11/19/2023 Read: 442 times {Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, said that the general financial trend for the year 2023 is “towards the upside” despite the fluctuation in oil prices.
Saleh told {Al-Furat News} agency, "The fluctuation of oil prices between rise and fall and its impact on the budget deficit. We find that this depends on the annual average revenues from a barrel of oil from the same source."
He stated, “The result of this impact on the total revenues of the annual general budget is that price fluctuations will certainly occur that fluctuate between rise and fall, but the general trend in 2023 is towards the rise.”
Three OPEC+ sources told Reuters that the group is scheduled to consider whether to make an additional cut in oil supplies when it meets later this month, after prices fell about 20% since late September.
The price of Brent crude fell to about $80.6 per barrel from the highest level in 2023 recorded in September, near $98. Concerns about demand and a potential surplus next year have put pressure on prices, despite support from OPEC+ cuts and conflict in the Middle East.
Saudi Arabia, Russia and other OPEC+ members have already pledged to reduce overall oil production by 5.16 million barrels per day, or about 5% of daily global demand, in a series of steps that began in late 2022. The cut includes 3.66 million barrels per day from OPEC+. In addition to a voluntary reduction from Saudi Arabia and Russia.
On June 12, the House of Representatives approved the largest draft budget law in the country’s history for the current year, with a total amounting to 198 trillion and 910 billion dinars ($153 billion), while the total state revenues under the draft law amounted to 134 trillion and 552.9 billion.
The fiscal deficit amounts within the budget law were estimated at more than 64.36 trillion dinars, at record levels amounting to more than two-thirds of the last deficit witnessed by Iraq’s budget recorded in 2021. Iraq relied heavily,
in its recently approved budget, on oil revenues, which within the law amounted to approximately 117.2 trillion dinars. While the total non-oil revenues amounted to about 17.3 trillion, which means that the Iraqi budget has become hostage to international oil prices, as the price of a barrel of oil was estimated at 70 dollars, and the amount of daily exports is 3.5 million barrels per day, of which 400 thousand barrels per day are from the Kurdistan region of Iraq and are suspended. Since last March due to a dispute with Turkey. Raghad Dahham LINK
Iraq's Accession To The European Bank Revives Hopes For Reconstruction
The first 11/19/2023 Baghdad: Hoda Al-Azzawi Experts and specialists expressed their hope that Iraq’s accession to membership in the European Bank for Reconstruction and Development will revive the wheel of reconstruction and revive many of the large projects that the current government has begun to implement.
The US administration welcomed the Iraqi step, and stated in a comment on the matter that “Iraq’s joining the European Bank allows its companies to access loans that contribute to improving products and services and enhancing communication with the world.”
The director of the Regional Center for Studies, Ali Al-Sahib, said in an interview with Al-Sabah: “With persistent government efforts, Iraq has joined the European Bank, which contributes greatly to the reconstruction and revival of many large and giant projects that the Sudanese government has begun to implement.”
He pointed out that "Iraq can benefit from external financial and political support, because Iraq - unfortunately - lived an era of time away from the wheel of construction and development, and therefore today it needs a working paper presented by the Ministry of Planning in cooperation with the ministries and institutions concerned with the matter," demanding that the state have The Iraqi “Reconstruction Council” is “similar to that council during the royal era, which brought to light a huge number of projects that are still ongoing.”
He added, "We need to restore the destroyed infrastructure, which we may be able to restore in cooperation with the European Bank. We cannot fail to mention that the labor force must be local to employ the largest number of Iraqis, not to mention the engineering and architectural expertise in this aspect. We must also put in place steps." On the path to sustainable development and development.
The Ministry of Foreign Affairs announced earlier that Iraq had joined the European Bank for Reconstruction and Development, and the ministry’s spokesman, Ahmed Al-Sahhaf, said in a statement, “Iraq has joined the European Bank for Reconstruction and Development to become the 74th member of the bank.”
He added, "The transformation process has now been completed to become a contributing member, and as a shareholder, Iraq can apply to benefit from the financial and political support provided by the European Bank for Reconstruction and Development."
The President of the European Bank for Reconstruction and Development, Odile Renaud Basso, welcomed Iraq as a member of the bank, expressing her aspiration to begin work in Iraq and “apply our expertise to develop its economy.”
Meanwhile, the academic researcher, Dr. Qasim Balshan Al-Tamimi, indicated in an interview with “Al-Sabah” that “Iraq’s accession to membership in the European Bank is a step in the right direction to build and support the economy.”
He stated that "the European Bank has been helping to develop the economies of developing countries since its founding in 1991, and investment is an important tool to help build market economies.
From this standpoint comes the importance of Iraq joining it, given that Iraq represents a broad arena and a good environment for investment in various fields and sectors, and it can Iraq's accession to this bank will help promote the development renaissance in the country, and this will provide great job opportunities, in addition to making Iraq a destination for giant European companies, thus supporting the Iraqi economy and moving away from the grip of the mono-economy that depends on oil.”
Edited by: Muhammad Al-Ansari https://alsabaah.iq/87497-.html
Provoking Points To Ponder From Daily Reflections For Highly effective People By Stephen Covey:
The Seven Habits are not a set of separate or piecemeal psyche-up formulas -- In harmony with the natural laws of growth - they provide an incremental - sequential - highly integrated approach to the development of personal and interpersonal effectiveness -- They move us progressively on a Maturity Continuum from dependence to independence to interdependence -- p48-49
#1 Be Proactive
#2 Begin With The End In Mind
#3 Put First Things First
#4 Think Win/Win
#5 Seek First To Understand Then To Be Understood
#6 Synergize
#7 Sharpen The Saw
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