Goldilocks' Comments and Global Economic News Thursday AM 12-28-23
Goldilocks' Comments and Global Economic News Thursday AM 12-28-23
Good Morning Dinar Recaps,
The economic and political conditions of a country can also cause a currency's value to fluctuate. While investors enjoy high-interest rates, they also value the predictability of an investment. This is why currencies from politically stable and economically sound countries generally have higher demand, which, in turn, leads to higher exchange rates.
Goldilocks' Comments and Global Economic News Thursday AM 12-28-23
Good Morning Dinar Recaps,
The economic and political conditions of a country can also cause a currency's value to fluctuate. While investors enjoy high-interest rates, they also value the predictability of an investment. This is why currencies from politically stable and economically sound countries generally have higher demand, which, in turn, leads to higher exchange rates. LINK
https://www.xe.com/blog/money-transfer/why-do-currencies-fluctuate/
~~~~~~~~~~
Demand and Supply Shifts in Foreign Exchange Markets Llumen Learning Link
~~~~~~~~~~
Based on the decision of the Board of Directors of this bank No. (191) of 2023, it was decided to give the mediation companies buying and selling foreign currencies under category (C) a period of time to merge to be classified as (A) or (B) until 3/31/2024. https://cbi.iq/news/view/2491
~~~~~~~~~~
Big money is dropping out of their long positions in the market right now.
This is usually an indication that volatility is ahead and the movement into day trading will be more profitable since they can move in and out of positions quicker.
This is expected due to the fact that we are beginning our transition from an Old Market to a New Digital one.
© Goldilocks
Investors Link
~~~~~~~~~~
Stocks moving into a dangerous period
https://youtu.be/kVJAbn2RSpI?feature=shared
~~~~~~~~~~
US States Make Move To Reclassify Gold And Silver
https://www.youtube.com/live/8Zr8Lwyu5kc?feature=shared
~~~~~~~~~~
Follow Goldilocks' Roadmap
Follow Goldilocks' Timeline
Goldilocks' Telegram Room
Q & A Telegram Room
Goldilocks Forum
Goldilocks on the Seeds of Wisdom Team™ Website
Subscribe to Newsletter
Thank you Dinar Recaps
Iraqi News Highlights and Points to Ponder Thursday AM 12-28-23
Iraqi News Highlights and Points to Ponder Thursday AM 12-28-23
The Dollar Exchange Rate Will Stabilize With The Broader Launch Of The Budget
The first 12/28/2023 Baghdad: Shaima Rasheed The Parliamentary Finance Committee explained the decline in the dollar exchange rates against the Iraqi dinar to the citizen’s fear of the fluctuation occurring, which is related to the budget and the government’s spending of it after it stopped it before the local elections, while it considered the government’s shift towards electronic dealing at the beginning of next year to be a positive thing.
Committee member, Jamal Cougar, said in an interview with “Al-Sabah” that the dollar is supposed to witness a further decline when it is exchanged against the Iraqi dinar, especially with the start of greater budget disbursement, in addition to the government’s announcement of the direct implementation of the electronic system with the start of the new year, which will limit From financial dealings in dollars.
Iraqi News Highlights and Points to Ponder Thursday AM 12-28-23
The Dollar Exchange Rate Will Stabilize With The Broader Launch Of The Budget
The first 12/28/2023 Baghdad: Shaima Rasheed The Parliamentary Finance Committee explained the decline in the dollar exchange rates against the Iraqi dinar to the citizen’s fear of the fluctuation occurring, which is related to the budget and the government’s spending of it after it stopped it before the local elections, while it considered the government’s shift towards electronic dealing at the beginning of next year to be a positive thing.
Committee member, Jamal Cougar, said in an interview with “Al-Sabah” that the dollar is supposed to witness a further decline when it is exchanged against the Iraqi dinar, especially with the start of greater budget disbursement, in addition to the government’s announcement of the direct implementation of the electronic system with the start of the new year, which will limit From financial dealings in dollars.
He added that the current exchange rate in the market is not real and that part of it is due to the fear of rise or fall because the real price is determined by the criterion of need, noting that we do not have a real ceiling for need, as part of it is speculation and the other is smuggling and others, and the real price remains unknown because there are no solid financial institutions that speak. About import and export.
Koger pointed out that the government did not spend the budget so that it would not be exploited in the local elections by parties and candidates at the time, calling on the government to start spending the budget more than it was spending in order for the market and exchange rate to stabilize.
Edited by: Adhraa Juma https://alsabaah.iq/89559-.html
Economy News Publishes Dollar News In Iraq
Market Economy News – Baghdad Al-Iqtisad News publishes the dollar exchange rates in the parallel market on Thursday, December 28, 2023, as it witnessed a decline of 0.66%.
Here are the dollar exchange rates in the main markets, as of 11:12 am:
Baghdad $100 = 152,000 dinars
Basra $100 = 151,900 dinars
Erbil $100 = 151,800 dinars
Sulaymaniyah $100 = 152,000 dinars
Dohuk $100 = 152,000
to follow Get the latest dollar news on our Telegram channel https://t.me/Eco
115 views 12/28/2023 - https://economy-news.net/content.php?id=38952
The Iraqi Market Will Trade Shares With A Financial Value Of About 700 Billion Dinars During 2023
2023-12-28 The Iraqi market will trade shares with a financial value of about 700 billion dinars during 2023 LINK
Dollar Prices Falter Against The Dinar, And Parliament Finance Describes The Decline As Temporary
Posted On 12-28-2023 By Sotaliraq Haider Hisham The prices of the US dollar fell against the Iraqi dinar, yesterday, Wednesday, in Baghdad and Erbil with the closure of the stock exchange, as the prices of the dollar recorded a decline with the closure of the two main Kifah and Harithiya stock exchanges in Baghdad, reaching 151,500 Iraqi dinars against 100 dollars, while the same morning it recorded 152,750 Iraqi dinars against 100 dollars.
While selling prices in banking shops in local markets in Baghdad decreased, the selling price reached 152,500 dinars for 100 dollars, while the purchase price reached 150,500 dinars for 100 dollars.
The new development that occurred in the series of exchange rates was represented by the decline of the dollar against the dinar, especially in the Baghdad stock exchanges, where it abandoned prices exceeding 155 thousand dinars for every 100 dollars, and returned to the threshold of 148 or less, amid many popular and political questions about the real reasons for this. The decline, and will it continue or will it rise again?
Member of the Parliamentary Finance Committee, Mudar Al-Karawi, identified the most important factors that pushed the “opposite trend” of the parallel market in Iraq, while he considered the recent decline in exchange rates “temporary.”
Etiology
Al-Karawi said in an interview with Al-Mada, “The exchange rate of the dollar in the parallel market decreased by approximately 6% in two weeks and approached 148 thousand dinars for every 100 dollars.”
He added, “The Central Bank’s measures to deal with the main pressure factors on the parallel market pushed merchants and companies to the electronic platform to reduce smuggling opportunities,” noting “an attempt to push 13 active sectors in the country to replace their transactions from the dollar to the dinar, including buying and selling cars, for example.” For example, which worked to reduce demand in the parallel market.”
A member of the Finance Committee explains, “The recent decline in exchange rates is temporary; Because it depends on other points, including that 90% of the markets’ needs are met through import, meaning exporting currency abroad to fulfill financial pledges, which puts greater pressure on the hard currency.”
Al-Karawi points out that “the nature of dealings with neighboring countries, some of which suffer from sanctions, directly affects the parallel market.”
American side
The recent decline in exchange rates is the first of its kind in many months, but the real reasons have not been revealed until this moment, especially since merchants and citizens do not trust the government’s measures and quickly forgot the words of the Prime Minister, Muhammad Shiaa Al-Sudani, when he said, “The dinar is stronger than the dollar.” In turn, the researcher in economic affairs, Nabil Al-Ali, explains the real reasons for the recent decline in the dollar exchange rates in local markets, in relation to the relationship between the blog of the American ambassador to Iraq and the decline of the green currency.
Several days ago, the US Ambassador to Iraq, Elena Romanowski, confirmed that the US Treasury Department would continue its cooperation with the Central Bank of Iraq, while indicating that America would continue to provide dollar services to Iraq.
Citizen confidence
Al-Ali mentioned in an interview with (Al-Mada), that “the Iraqi government has tried for a long time to persuade citizens to fix the official price at 132 thousand per 100 dollars, but citizens do not trust government decisions, at a time when Washington’s ambassador to Iraq, Elena Romanski, is speaking in a blog post.” Small said that her country supports the Iraqi efforts, and sees the clear decline in exchange rates.
He points out that “public opinion and merchants are shifting their confidence towards external positions, and they have no confidence in the government,” considering this matter a “dangerous indicator.”
The economic affairs researcher continues: “There are no new measures by the Central Bank of Iraq to see the recent decline in prices affecting local markets,” pointing out that “there are government plans and procedures, but their impact will not be reflected directly.”
Al-Ali explains, “There is another factor causing the recent decline, which is the end of the fiscal year, and the large number of holidays and events, which leads to a decrease in the volume of trade, and in turn leads to a decrease in demand for the dollar, which prompted citizens to sell the dollar.”
He confirms that “this recent decline is relative, and may witness an increase or fluctuation during the coming period,” indicating that “the fate of the exchange rate is to decline and get closer to the official rate set by the government.”
During yesterday's transactions, Wednesday, the dollar exchange rates rose again with the opening of stock exchanges in the capital, Baghdad, where the price of 100 dollars reached more than 153 thousand dinars.
Wiggle
The US dollar is putting pressure on the Iraqi economy and exhausting its sectors due to its superiority over the dinar, despite the Central Bank providing more than a billion dollars weekly to finance commercial activities through the foreign currency selling window for 1,305 dinars per dollar.
Although the average Iraqi per capita income increased to 7 million dinars last year, the rise in prices of goods and commodities, as well as the fluctuation of exchange rates, raise more negative indicators in terms of poverty, inflation, and the level of recession.
The crisis of the dinar's exchange rates against the dollar is still ongoing in Iraq, since late last year, witnessing fluctuations despite measures taken by the country's central bank with the aim of stabilizing currency prices, while dollar prices recorded fluctuations in the previous two days after a modest decline, which turned the currency crisis into a nightmare that haunts Iraqis. LINK
Provoking Points To Ponder on Friendship
We call that person who has lost his father, an orphan; and a widower, that man who has lost his wife. But that man who has known that immense unhappiness of losing a friend, by what name do we call him? Here every language holds its peace in impotence. - Joseph Roux
To have a good friend is one of the highest delights of life; to be a good friend is one of the noblest and most difficult undertakings. - Anonymous
There is no wilderness like a life without friends; friendship multiplies blessings and minimizes misfortunes; it is a unique remedy against adversity, and it soothes the soul. - Baltasar Gracian
There is nothing on this earth more to be prized than true friendship. - Saint Thomas Aquinas
Man's best support is a very dear friend. - Cicero
Famous Quotes and Authors, Famous Quotations for all Occasions
"Tidbits From TNT" Thursday 12-28-2023
TNT:
CandyKisses: Sudanese: Iraq is going to end the presence of the international coalition forces and we reject the US attacks on our forces
Baghdad Today - Baghdad
Prime Minister Mohamed Shia Al-Sudani confirmed on Thursday (December 28, 2023) that Iraq is going to end the presence of the international coalition forces, while renewing his rejection of the US attacks on Iraq.
Al-Sudani said at a press conference with his Spanish counterpart Pedro Sanchez: "We welcome the visit of the Spanish Prime Minister to Iraq," adding, "We held important dialogues and stressed the importance of the relationship between the two countries."
TNT:
CandyKisses: Sudanese: Iraq is going to end the presence of the international coalition forces and we reject the US attacks on our forces
Baghdad Today - Baghdad
Prime Minister Mohamed Shia Al-Sudani confirmed on Thursday (December 28, 2023) that Iraq is going to end the presence of the international coalition forces, while renewing his rejection of the US attacks on Iraq.
Al-Sudani said at a press conference with his Spanish counterpart Pedro Sanchez: "We welcome the visit of the Spanish Prime Minister to Iraq," adding, "We held important dialogues and stressed the importance of the relationship between the two countries."
CandyKisses: Sudanese announces expansion of relations with Spain, joint committee held in mid-2024
{Politicy: Al-Furat News} Prime Minister Mohammed Shia Al-Sudani announced the agreement of Iraq and Spain to strengthen partnership and cooperation between the two countries in various fields during a time limit.
“We stressed the importance of the relationship with Spain and its development and agreed on a year-long schedule that establishes a broad partnership,” Al-Sudani said at a press conference with his Spanish counterpart Pedro Sanchez, in Baghdad.
He announced that "the meeting of the Iraqi-Spanish Joint Committee will be held in Baghdad in mid-2024."
Al-Sudani pointed out that they "consulted in benefiting from the Spanish experience in water and solar energy management, and we invited Spain to participate in the Baghdad conference."
He stressed that "the government is continuing to end the presence of the international coalition in Iraq," noting that "targeting diplomatic missions is harms the interest of Iraq."
He stressed that "Iraqi sovereignty cannot be compromised and are able to maintain the security of the missions," noting that "the war on Gaza revealed the failure of the international system to maintain security."
For his part, Spanish Prime Minister Pedro Sanchez expressed his happiness to visit Baghdad, pointing out that he "held fruitful consultations with the Prime Minister and we touched on the development of relations between the two countries."
"We are committed to supporting the stability of Iraq and we will make a joint declaration to define the areas with Iraq and we will hold a meeting of the joint committee in Baghdad," he added.
"There is a desire for Spanish companies to contribute to the construction of Iraq and Gaza, which is in a tragic situation, and we refuse to target civilians in the Strip," Sudani continued.
The Spanish prime minister called for "a permanent ceasefire in Gaza and Iraq, a country of civilizations, and we are honored to visit us to Baghdad and aspire to strengthen relations."
************
Tishwash: Iraq negotiates with the Japanese company Toyota to enter the energy field
The Iraqi Minister of Electricity, Ziyad Ali Fadel, discussed with the Japanese Toyota company the signing of a memorandum of understanding to establish energy production projects and rehabilitate production units in Iraq.
The Ministry’s media office said in a press statement, “Minister of Electricity, Ziad Ali Fadel, received the regional director of the Japanese Toyota Tsusho Company, Tokuji Koyama, in his office, and listened to a presentation made by the Japanese company to establish energy production and transmission projects and rehabilitate production units in multiple regions of the country.” “The country.”
According to the statement, Fadel welcomed “the Japanese company’s offers,” calling for “accelerating the submission of official technical offers to agree on signing the memorandum of understanding, in preparation for starting the projects.”
Fadel stressed, “taking the time factor as a top priority when submitting offers, and reducing the duration of project implementation to ensure the stability and sustainability of electrical energy in Iraq,” renewing his call for foreign companies to “seize the available investment opportunities and implement various projects in the energy sector.” link
************
CandyKisses: Iran and Russia plan to trade in local currency instead of dollars
Economy News-Follow-up
Iranian state media reported that Iran and Russia have reached an agreement on trade in their local currencies instead of the US dollar.
She added that the agreement was signed during a meeting between the governors of the central banks of the two countries in Russia.
Both Iran and Russia are under U.S. sanctions.
"Banks and economic actors can now use infrastructures including internal interbank banking systems, without having to use the Universal Interbank Financial Communication Association (SWIFT) system to deal in local currencies," the media said.
Members of the Russian-led Eurasian Economic Union signed a full free trade agreement with Iran on December 25.
Iran's importance to the Kremlin has grown after Western sanctions imposed on Moscow over Moscow's conflict in Ukraine limited Russia's foreign trade routes and forced it to seek markets outside Europe.
Iranian authorities have stated that military cooperation with Russia is expanding. Iran said in November it had finalized arrangements for Su-35 fighter jets, Mi-28 attack helicopters and Yak-130 military training aircraft from Russia.
Mot: What did I come in here for?
Mot: .... A Reality of Our Time!!! --- LOL
Iraq Economic News and Points to Ponder Wednesday Afternoon 12-27-23
Iraq Economic News and Points to Ponder Wednesday Afternoon 12-27-23
Tlm724 Administrator Bondlady’s Corner
Adviser To Sudanese: Work Is Underway To Diversify Foreign Currencies In Iraq's Trade With The World
Time: 12/27/2023 12:50:20 Read: 1,222 times {Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed the success of government measures and the Central Bank of Iraq in managing the demand for the dollar and contributing to reducing the exchange rate in the parallel market recently.
Saleh told {Al-Furat News} agency, “The government’s measures were combined in coordination with the Central Bank in managing the demand for foreign currency in a smooth and flexible manner through the regular banking channels, which made the electronic compliance platform meet today 95% of the actual demand for foreign currency at an exchange rate of 1320.” Dinar for every dollar.
Iraq Economic News and Points to Ponder Wednesday Afternoon 12-27-23
Tlm724 Administrator Bondlady’s Corner
Adviser To Sudanese: Work Is Underway To Diversify Foreign Currencies In Iraq's Trade With The World
Time: 12/27/2023 12:50:20 Read: 1,222 times {Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed the success of government measures and the Central Bank of Iraq in managing the demand for the dollar and contributing to reducing the exchange rate in the parallel market recently.
Saleh told {Al-Furat News} agency, “The government’s measures were combined in coordination with the Central Bank in managing the demand for foreign currency in a smooth and flexible manner through the regular banking channels, which made the electronic compliance platform meet today 95% of the actual demand for foreign currency at an exchange rate of 1320.” Dinar for every dollar.
He pointed out that "the monetary policy has allowed the use of various foreign currencies to finance foreign trade for the private sector and through banking channels such as the UAE dirham and the Turkish lira, in addition to the euro, the Chinese yuan, and others."
Saleh revealed that “work is underway to diversify sources of foreign currencies according to areas of trade with the world and in an easy manner.”
It is noteworthy that the local markets have been witnessing a noticeable decline in the dollar exchange rate for days, as it fell for the first time in months to below 1,500 dinars per dollar.
Prime Minister Hisham Al-Rikabi's media advisor said last Sunday that "the battle with the dollar is almost over," referring to government measures to limit the rise of the currency in the parallel market and bring it close to the official rate at the Central Bank of 1,320 dinars to the dollar. LINK
The Iraqi Central Bank Imposes Fines On Banks And Exchange Companies
Economy Wednesday, December 27, 2023 Baghdad/National News Center Today, Wednesday, the Central Bank of Iraq announced that it had imposed fines on banks and exchange companies that exceeded 127 billion Iraqi dinars during the past 11 months.
According to the bank, “the fines imposed on banks and financial companies during the past 11 months, starting last January and ending last November, amounted to 127 billion and 337 million and 645 thousand and 628 dinars.”
He stated that “the fines also included 386 administrative penalties for these banks and non-banking institutions, distributed between warnings, warnings, and grace periods.”
According to the bank, “last April witnessed the highest rate of fines for banks and non-financial institutions, amounting to 17 billion, 440 million, 383 thousand and 447 dinars, with administrative penalties amounting to 17 penalties, while last November witnessed the lowest rate of fines, amounting to 8 billion, 337.” One million 645 thousand and 628 dinars with 8 administrative penalties.”
The bank did not reveal the names of the banks on which fines and administrative penalties were imposed. https://nnciraq.com/243210/
Oil Prices Fall As Shipping Companies Return To The Red Sea
Wednesday 27, December 2023 09:09 | Economical Number of readings: 2336 Baghdad / NINA / Oil prices fell in early Asian trading on Wednesday, paring strong gains achieved in the previous session as major shipping companies began returning to the Red Sea despite the ongoing attacks and escalating tensions in the Middle East.
Brent crude futures fell 18 cents, or 0.22 percent, to $80.89 per barrel, and US West Texas Intermediate crude futures fell 22 cents, or 0.29 percent, to $75.35 per barrel.
On Tuesday, prices rose more than 2% to their highest levels this month, continuing the upward momentum last week that saw prices rise more than 3%, partly due to hopes for US interest rate cuts that may boost economic growth and boost demand.
However, the possibility of a prolonged Israeli military campaign in Gaza and the spillover of the conflict into attacks on ships in the Red Sea remain major drivers of market sentiment.
Israeli Chief of Staff Herzi Halevy on Tuesday told reporters that the war in Gaza would continue "for several months," while the Houthis claimed responsibility for a missile attack on a container ship in the Red Sea.
Despite the attack, major shipping companies such as Maersk (MAERSKb.CO) and France's CMA CGM have resumed transit through the Red Sea after deploying a multinational task force to the region.
German company Hapag-Lloyd (HLAG.DE) is expected to make a decision on resuming shipments on Wednesday.
Markets remain supported by speculation that the US Federal Reserve will start cutting interest rates in 2024, after data on Friday showed that by some key measures - such as the personal consumption expenditures (PCE) price index - inflation is now at or below the central bank's target. 2%.
Lower interest rates reduce borrowing costs, which can stimulate economic growth and increase demand for oil.
Inventory reports from the American Petroleum Institute Industrial Group and the Energy Information Administration, the statistical arm of the US Department of Energy, are expected to be released on Wednesday and Thursday, respectively, a day later than usual for both reports due to the Christmas holiday./End 9 https://ninanews.com/Website/News/Details?key=1097673
Central Bank Sales Exceed $200 Million Today
Wednesday 27, December 2023 15:22 | Economical Number of readings: 1517 Baghdad / NINA / The Central Bank of Iraq announced, today, Wednesday, its total sales of foreign currency through the electronic window.
The window recorded the total amounts of transfers abroad (remittances, credits) of $164,975,854, while the total amount of cash sales amounted to $35,190,000, and the total amount of sales amounted to $200,165,854.
The cash sale price was set at 1,305 dinars per dollar, while bond credits, international electronic card settlements, and foreign transfers were set at 1,310 dinars per dollar. /End 11
The Iraqi Stock Exchange Closed Up By 2.29%
Market Economy News – Baghdad The Iraqi Stock Exchange closed today, Wednesday, up by 2.29%.
The session traded shares of 41 companies, with the number of shares traded reaching more than 11.2 billion shares, with a value of more than 12 billion dinars.
Elaf Islamic Bank shares rose by 10%, followed by Baghdad Al-Ghaziyeh by 7.7%, and Ishtar Hotels by 7.3%. Al-Amin Real Estate shares fell by 8.4%, followed by Sumer Bank by 7.6%.
Views 80 12/27/2023 - https://economy-news.net/content.php?id=38917
Establishing A Platform For Trading Shares Of Companies Not Listed On The Iraqi Stock Exchange
Market Economy News – Baghdad Informed sources revealed the establishment of the Securities Commission, a platform for trading shares of companies not listed on the Iraq Stock Exchange.
The sources told Al-Eqtisad News that the Securities Commission has established a platform for trading shares of joint-stock companies not listed on the Iraq Stock Exchange, which suffer from a deficiency in one of the listing conditions.
The sources confirmed that the beginning of next year will witness the work of this platform, which is one of the conditions for registering companies, pointing out that the Ministry of Commerce will refuse to register any company unless the shareholder register is deposited in the deposit center.
Views 169 12/27/2023 - https://economy-news.net/content.php?id=38918
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
Provoking Points To Ponder on Power:
Power is the ultimate aphrodisiac. - Henry Kissinger
Liberal - a power worshipper without power. - George Orwell
Power is like a woman you want to stay in bed with forever. - Patrick Anderson
The illegal we do immediately, the unconstitutional takes a little longer. - Henry Kissinger
Power tends to connect; absolute power connects absolutely. - Peter Newman
Macho does not prove mucho. - Zsa Zsa Gabor
Give me a lever long enough And a prop strong enough, I can single-handed move the world. - Archimedes
Iron hand in a velvet glove. - Charles V
Famous Quotes and Authors, Famous Quotations for all Occasions-
Goldilocks' Comments and Global Economic News Wednesday Evening 12-27-23
Goldilocks' Comments and Global Economic News Wednesday Evening 12-27-23
Good Evening Dinar Recaps,
Al-Kadhimi: Iraq’s treatment of a basket of currencies reduces the dominance of the dollar and the government with an economic battle
“The regulation of financial transactions and foreign trade enhances Iraq’s position in financial politics, and Iraq must deal with a basket of currencies in addition to the dollar gradually so that it is not governed by federal instructions in addition to reducing import.”
“The government has a real battle to address the economic situation and the political blocs are required to strongly support this trend,” Al-Kazmi concluded. Search 4 Dinar
~~~~~~~~~~
Let's take a closer look at what's about to happen in 2024. The banking system is going to pull money from the future into the now.
What that means is a lot of money is tied up in crypto investments inside the new digital economy by institutions, governments, whales, and people like you and me.
Goldilocks' Comments and Global Economic News Wednesday Evening 12-27-23
Good Evening Dinar Recaps,
Al-Kadhimi: Iraq’s treatment of a basket of currencies reduces the dominance of the dollar and the government with an economic battle
“The regulation of financial transactions and foreign trade enhances Iraq’s position in financial politics, and Iraq must deal with a basket of currencies in addition to the dollar gradually so that it is not governed by federal instructions in addition to reducing import.”
“The government has a real battle to address the economic situation and the political blocs are required to strongly support this trend,” Al-Kazmi concluded. Search 4 Dinar Link
~~~~~~~~~~
Let's take a closer look at what's about to happen in 2024. The banking system is going to pull money from the future into the now.
What that means is a lot of money is tied up in crypto investments inside the new digital economy by institutions, governments, whales, and people like you and me.
This reintegration into the new digital economy will create volatility for some assets to the upside and to the downside. If you are inside the right assets, you will be fine.
It all begins in 2024. If you are not in a good position, be ready to change as soon as you can. Many of the assets we have discussed in this room are good positions. Even though I can't recommend any of them, I have talked about them.
Our transition into the new economy has been going on for some time through new legislative bills turning into laws to govern them, and the banking system is about to synchronize with these markets inside a gold standard position that will cause fluctuations across ALL markets.
This will take some time in 2024 to make these transitions convert over into a new digital economy, price changes on everything is expected to happen.
© Goldilocks
~~~~~~~~~~
Watch what happens with the new spot Bitcoin ETF. This is a very protected asset. Look at the companies that are wrapping their assets to it. They are well known and well flushed with money.
These companies know that Bitcoin is going to grow exponentially in 2024 and 25. It is the top asset and bridge into the digital economy.
Countries around the world are doing the same with their spot Bitcoin ETF. This is why there are meetings these past two weeks before early 2024 begins to prepare for this transition.
Gold is the underlying support asset that will make all of this possible giving real value to all of our assets and standardizing digital protocols to level the playing field among countries around the world.
© Goldilocks
American Banker Link
Fox Business Link
American Banker Link 2
~~~~~~~~~~
U.S. SEC Asks Firms Applying for Spot Bitcoin ETFs To Complete Last-Minute Corrections Before New Year: Report The Daily Hodl Link
~~~~~~~~~~
The Most Splendid Housing Bubbles in America, December 2023 Update Wolf Street Link
~~~~~~~~~~
"India's first-ever payment in rupees for crude oil purchased from the UAE is helping the world's third largest energy consumer push for taking the local currency globally, as it looks for similar deals with other suppliers, officials said, adding internationalization is a process and there are no targets."
The Indian Rupee is taking their local currency global along with other countries starting the first week of January 2024.
They will be trading with countries like the US, Indonesia, Vietnam, Iraq, and more.
Each of these countries has the support of gold to back their currencies going forward through Basel 3, of which, the US will begin implementing theirs on January the 16th, 2024. The rest of the list above have already started this process.
These newly implemented changes inside the new digital asset-based trading system will put price pressures on gold to support these new assets. Look for gold to be transitioning to a real value very soon to meet these new demands.
All roads lead to gold, and gold will set us free.
© Goldilocks
The Hindu Link
~~~~~~~~~~
Bitcoin has already priced in spot ETF approval: Expert
https://finance.yahoo.com/video/bitcoin-already-priced-spot-etf-154806115.html
~~~~~~~~~~
Follow Goldilocks' Roadmap
Follow Goldilocks' Timeline
Goldilocks' Telegram Room
Q & A Telegram Room
Goldilocks Forum
Goldilocks on the Seeds of Wisdom Team™ Website
Subscribe to Newsletter
Thank you Dinar Recaps
BRICS Possibilities are Endless: Meteoric Impact to the Current World Order
BRICS Possibilities are Endless: Meteoric Impact to the Current World Order
12-26-2023
BRICS: The grouping of the world economies of Brazil, Russia, India, China and South Africa has added 6 new members
Iran, Saudi Arabia, Egypt, Ethiopia, Argentina and UAE will join BRICS+ from January 2024
The expanded group will account for 30% of the world’s GDP ($30 trillion) and a staggering 45% of world’s oil production (37 million bpd)
IMPACT: This will have a meteoric impact to the current world order.
BRICS Possibilities are Endless: Meteoric Impact to the Current World Order
12-26-2023
BRICS: The grouping of the world economies of Brazil, Russia, India, China and South Africa has added 6 new members
Iran, Saudi Arabia, Egypt, Ethiopia, Argentina and UAE will join BRICS+ from January 2024
The expanded group will account for 30% of the world’s GDP ($30 trillion) and a staggering 45% of world’s oil production (37 million bpd)
IMPACT: This will have a meteoric impact to the current world order.
Members will trade with one another with their own local currencies. Over time, the formation of a common BRICS currency may further erode the influence of the greenback Petrodollar may make way for PetroBRICS or even Petroyuan, which is not too far-fetched an idea, given that Saudi Arabia trades 3x as much with China as with the US.
SWIFT Settlement System may go the way of the dodo, replaced with a politically independent system. I foresee the importance of selective cryptos having a role to play in the new order Bitcoin may feature in the basket of reserves backing the BRICS currency, alongside with other commodities like gold and energy DOGE for tipping in X Monero for those who yearn for extreme privacy, XRP for cross-border transactions by financial institutions, etc.
The possibilities and opportunities are infinite !
Something the media is not talking about: Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates could join as full members of BRICS beginning January 1st. This is how the world order changes.
Gold Telegraph, Dec. 26
T てぃ
Iraq Economic News and Points to Ponder Wednesday AM 12-27-23
Iraq Economic News and Points to Ponder Wednesday AM 12-27-23
Tlm724 Administrator Bondlady’s Corner
A Noticeable Decline In The Dollar Exchange Rate Amid Anticipation In The Markets
Economical 12/25/2023 Baghdad: Al-Sabah Dollar prices have decreased significantly in the past few days throughout Iraq, as the end of the current year approaches, with the market awaiting fear of its fluctuation or rise again.
While the Iraqi government believes that the decline in the price of the dollar was due to several reasons, including “the high capabilities of Iraq’s currency reserves,” the stock market, specifically in Sulaymaniyah, had another opinion as it warned of an increase in its price due to the New Year’s holiday.
The government’s comment came from Mazhar Muhammad Salih, the financial and economic advisor to Prime Minister Muhammad Shia al-Sudani, in which he said:
“Among the reasons for the decline in the dollar exchange rate in the parallel market are the high capabilities of Iraq’s foreign currency reserves and the good management of foreign trade financing during the last period.”
Iraq Economic News and Points to Ponder Wednesday AM 12-27-23
Tlm724 Administrator Bondlady’s Corner
A Noticeable Decline In The Dollar Exchange Rate Amid Anticipation In The Markets
Economical 12/25/2023 Baghdad: Al-Sabah Dollar prices have decreased significantly in the past few days throughout Iraq, as the end of the current year approaches, with the market awaiting fear of its fluctuation or rise again.
While the Iraqi government believes that the decline in the price of the dollar was due to several reasons, including “the high capabilities of Iraq’s currency reserves,” the stock market, specifically in Sulaymaniyah, had another opinion as it warned of an increase in its price due to the New Year’s holiday.
The government’s comment came from Mazhar Muhammad Salih, the financial and economic advisor to Prime Minister Muhammad Shia al-Sudani, in which he said:
“Among the reasons for the decline in the dollar exchange rate in the parallel market are the high capabilities of Iraq’s foreign currency reserves and the good management of foreign trade financing during the last period.”
Saleh stated that “the parallel market is gradually approaching the official central market, due to the presence of regular foreign trade by the private sector through the compliance platform and the great flexibility that banks have shown in dealing with this platform for the purpose of securing transfers.”
He added, "The openness to transfer through various methods, including payment cards in all their forms, importing foreign cash currency into Iraq, and financing foreign trade in various currencies, and not limiting this transaction to the dollar only, led to a decrease in the dollar exchange rate in the parallel market as well." The financial and economic advisor to the Prime Minister continued,
“The monetary policy of the Central Bank is exercising its role precisely and positively and in accordance with short- and medium-term plans to maintain the stability of the national economy, and for this reason the exchange rate will continue to decline in the parallel market.” https://alsabaah.iq/89279-.html
The "Parallel Dollar"... 5 Factors To Control The Rhythm And A Parliamentarian Identifies The "Major Weak Point" In The Iraqi Economy
Economy/Politics | Baghdad Today, Tuesday (December 26, 2023), Member of Parliament Hussein Habib identified five factors to control the rhythm of the parallel dollar in Iraqi markets, while noting that a significant number of Iraqis are forced to travel for treatment and spend huge sums of money in dollars.
Habib told “Baghdad Today” that “many positives accompany the decline in the exchange rate of the dollar in the parallel market, the most prominent of which is its direct impact on millions of Iraqis in terms of reducing the prices of materials in the markets,
but the dollar does not decline through wishes and statements, but rather through actual plans that take their reach in interacting with the reasons for the rise.” dollar directly. He added,
"There are five factors that control the rhythm of the parallel dollar , the most prominent of which is reducing demand for it and striving for an actual renaissance in the industry file, because a large portion of the dollar export abroad comes through the balance of imports, which includes the highest percentage of market needs," pointing out that
there is a real desire among the Sudanese to Strengthening the value of the Iraqi dinar against the dollar, but the matter requires other measures that contribute to preserving the hard currency, and perhaps opening investments and reviving factories is an important step.”
Habib pointed out, “A significant number of Iraqi patients are forced to travel for treatment and they spend huge sums of money in dollars, and this is one of the pieces of evidence that shows part of the reasons for the dollar’s departure abroad,” explaining that
without industry, production, and solving the problems of services, this will remain a weak point in the national economy and remain A pressure factor on the parallel market in the country.”
For about two weeks, the dollar exchange rate has been witnessing a continuous decline, as it fell from 1600 to 1480 gradually, at a time when economic specialists expressed the lack of clarity of vision or the existence of a direct reason for the decline in exchange rates.
Rather, they are many indicators and reasons accumulated and combined with each other that led to a lack of demand. On the dollar in the parallel market.
Advisor To The Association Of Private Banks: Serious Steps To Confront The Dollar Crisis
December 26, 2023Last updated: December 26, 2023 Independent/- Advisor to the Iraqi Private Banks Association, Samir Al-Nusairi, confirmed that the Iraqi government and the Central Bank are working in harmony to address the dollar crisis, and that there are serious steps that have been taken or are being taken in this direction.
Al-Nusairi said in press statements, followed by Al-Mustaqila on Tuesday, that the Central Bank began digital transformation in the banking sector since 2016, by developing electronic payment systems and electronic banks.
It also took a new strategy for economic action that includes steps to enhance local production and reduce dependence on imports.
Al-Nusairi added that the Iraqi government worked hard to reconsider monetary policies and diagnose the defect, and that there is great optimism for the continued decline in the price of the dollar in Iraq, as it is expected to reach 140 dinars in the first quarter of next year.
Al-Nusairi pointed out that Iraq has begun to take the right steps to enter the global financial system, as an agreement was signed with the International Monetary Fund, the Baghdad Stock Exchange was established, and work is underway to establish a regulatory body for financial markets.
Al-Nusairi explained that there is “chaos” in foreign trade in Iraq, as unnecessary goods and services are being imported, which increases the pressure of the dollar on the Iraqi economy, and called for the necessity of organizing and controlling foreign trade.
Informed sources have confirmed that the US Ambassador in Baghdad, Alina Romanowski, with the support of a specialized team from the US Treasury Department, has exerted great and continuous pressure on the Central Bank of Iraq and the Ministry of Finance in order to adhere to international standards in the field of transferring and exchanging money with the world.
The statements of the advisor to the Iraqi Private Banks Association indicate that there are serious steps that have been taken or are being taken in Iraq to address the dollar crisis, as the Central Bank and the government are working in harmony in this direction.
These steps include digital transformation in the banking sector, enhancing local production, reducing dependence on imports, entering the global financial system, and regulating foreign trade.
If Iraq succeeds in implementing these steps, it is expected that the severity of the dollar crisis in the country will decline and return to acceptable levels.
But there are still some challenges that Iraq must overcome, such as controlling foreign trade and reducing corruption. https://mustaqila.com/مستشار-رابطة-المصارف-الخاصة-خطوات-جاد/
The Recovery Of Iraqi Economic Activity, Will It Repeat Its Role?
Economical 12/25/2023 Yasser Al-Metwally Most countries base their economic relations on international assessments of a specific country's economy, aiming to deal with it based on the strength of its economy, according to current custom.
By tracking the assessments of the International Monetary Fund missions through its teams of experts, we conclude that the Iraqi economy has begun to recover despite the impact of the cuts imposed on its oil production on overall growth.
The important result is that inflation rates have declined during this year.
Despite all the criticism directed at the approach to the tripartite budget (the framework of the effective three-year budget law) and with the possibility of significant risks to the sustainability of the country’s public financial conditions in the medium term, the structural reforms pursued by the government are extremely important factors in ensuring the protection and stability of the macroeconomic.
In light of this vision, expectations of achieving growth by 5 percent during the year 2023, which is about to end, have been achieved.
It is true that implementing the budget will help to continue non-oil growth in the next year 2024.
However, the decline in oil production after the closure of the oil pipeline linking Iraq and Turkey, and reducing Production at the request of the OPEC+ group will work together to reduce gross domestic product growth in the years 2023 and 2024.
The inflation rate has declined from its peak of 7 percent this year, and
the most important thing is that it is expected to remain stable at this rate during the coming months.
Perhaps the reason for the reduction in inflation rates is due to the
Central Bank of Iraq adopting a more stringent monetary policy, the
impact of raising the exchange rate of the Iraqi dinar, the
decline in global food prices, and the
return of trade financing operations to normal with improved compliance with the anti-money laundering and counter-terrorism financing framework.
It is useful to point out that adopting the three-year budget setting method may lead to improving the level of financial planning and the continuity of implementation of development projects in the medium term. Which is the most important thing.
However, the government faces another challenge, as the delay in starting to implement the budget this year may contribute to the shift from a large surplus achieved in 2022 to a larger deficit in 2024, reflecting the full annual impact of budget procedures.
Such a major expansion in public finances, including a fundamental increase in the numbers of public sector members and pensioners, will raise public spending rates, which will put pressure on funds.
In this case, the government must ensure the protection of extremely important needs, and this is done by examining more non-oil revenues.
The government did well by paying attention to addressing this aspect by supporting these measures by moving to work on a more targeted social safety net, and working to provide better protection for groups. Fragile.
Hence, the most important role of the private sector is highlighted in achieving balance in reducing pressure on the government by stimulating economic diversification and creating job opportunities led by the private sector, which is a pivotal factor in achieving growth.
This trend is credited to the government if support for the private sector continues to ensure the creation of equal opportunities for the private sector through reforms. In banking and the electricity sector, reducing distortions in the labor market, and continuing to make efforts to strengthen governance and limit the spread of corruption.
This evaluation of governance performance by international experts will require them to advance the reality of the Iraqi economy and sustain this recovery, so that Iraq can regain its pivotal role among emerging economies. https://alsabaah.iq/89277-.html
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
Provoking Points To Ponder on Power:
Force is never more operative than when it is known to exist but is not brandished. - Alfred Thayer Mahan
The main task of a free society is to civilize the struggle for power. Slavery of the acquiescent majority to the ruthless few is the hereditary state of mankind; freedom, a rarely acquired characteristic. - R. H. S. Crossman
Power corrupts the few, while weakness corrupts the many. - Eric Hoffer
His countenance was like lightning, and his raiment white as snow. - Bible
Power is the recognition of necessity. - Abraham Rotstein
If absolute power corrupts absolutely, where does that leave God? - George Daacon
Famous Quotes and Authors, Famous Quotations for all Occasions
"Tidbits From TNT" Wednesday 12-27-2023
TNT:
Tishwash: Adviser to Sudanese: Work is underway to diversify foreign currencies in Iraq's trade with the world
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed the success of government measures and the Central Bank of Iraq in managing the demand for the dollar and contributing to reducing the exchange rate in the parallel market recently.
Saleh told {Al-Furat News} agency, “The government’s measures were combined in coordination with the Central Bank in managing the demand for foreign currency in an easy and flexible manner through the regular banking channels, which made the electronic compliance platform meet today 95% of the actual demand for foreign currency at an exchange rate of 1320.” Dinar for every dollar.
TNT:
Tishwash: Adviser to Sudanese: Work is underway to diversify foreign currencies in Iraq's trade with the world
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed the success of government measures and the Central Bank of Iraq in managing the demand for the dollar and contributing to reducing the exchange rate in the parallel market recently.
Saleh told {Al-Furat News} agency, “The government’s measures were combined in coordination with the Central Bank in managing the demand for foreign currency in an easy and flexible manner through the regular banking channels, which made the electronic compliance platform meet today 95% of the actual demand for foreign currency at an exchange rate of 1320.” Dinar for every dollar.
He pointed out that "the monetary policy has allowed the use of various foreign currencies to finance foreign trade for the private sector and through banking channels such as the UAE dirham and the Turkish lira, in addition to the euro, the Chinese yuan, and others."
Saleh revealed that “work is underway to diversify sources of foreign currencies according to areas of trade with the world and in an easy manner.”
It is noteworthy that the local markets have been witnessing a noticeable decline in the dollar exchange rate for days, as it fell for the first time in months to below 1,500 dinars per dollar.
Prime Minister Hisham al-Rikabi's media advisor said last Sunday that "the battle with the dollar is almost over," referring to government measures to limit the rise of the currency in the parallel market and bring it close to the official rate at the Central Bank of 1,320 dinars to the dollar. link
************
CandyKisses: Attempt to bring smuggled gold bullion into Iraq thwarted
Economy Baghdad News
The Border Guard Forces Command announced on Tuesday that it had thwarted the entry of smuggled gold bars into Iraqi territory.
The command said in a statement, seen by "Economy News", that "a detachment belonging to the second regiment, the third brigade of the border forces, was able to arrest a suspect in possession of (3) kg of gold bars that he intended to enter through smuggling into Iraqi territory."
The statement added that "a seizure report has been organized and the necessary legal measures have been taken against him."
************
CandyKisses: Al-Kadhimi: Iraq’s treatment of a basket of currencies reduces the dominance of the dollar and the government with an economic battle
{Economic: Al-Furat News} A member of the parliamentary financial committee, Moeen Al-Kadhimi, treated Iraq with a basket of currencies "reduces the dominance of the dollar," while he waved to challenge the government with an economic battle.
Al-Kademi said, for the program of {State Dialogue} broadcast by the Al-Euphrates Satellite Channel this evening, that: "The committee hosted the Governor of the Central Bank of Iraq and a deputy for multiple sessions.
The issue of the dollar was discussed, and the package of measures taken by him, the latest of which is the import of cash blocks of foreign currencies under certain conditions, in addition to the recent measures and the consensus with the US Federal to agree to deal with the UAE dirham, the euro, the Chinese yuan and the Indian ruppe, all contributed to reducing the exchange rate."
He added, "Some banks have started to import the dollar, but they are not sufficient for the black market, and the sales of the central bank are large and we are surprised by their inadequacy for trade."
Al-Kazimi pointed out that "the Finance Committee continues with the Central Bank and its follow-up and submitted proposals to take some of them and others are still in the bank's commerge, including the industrial initiative, which will gradually work on some industries to become their production internally to reduce the demand for the dollar."
He continued, "Control of customs and border crossings contributes to the stability of currency exchange internally, and the Central Bank, in cooperation with parliamentary finance, seeks to facilitate the work of Iraqi traders," stressing "the need to start the allocation committees in the House of Representatives with their work, which is the responsibility of the heads of the committees."
Al-Kazimi added, "The state of competition in the local market forces the trader to resort to the official price, and the regular distribution of the ration contributed to the stability of food prices," calling on the Sudanese government to "address the Ministry of Commerce radically regarding the quality of the ratification items, which affects the lives of citizens."
"There must be political solidarity and national vegetation; to bring back some industries and agriculture to promote the local market and imports should be controlled in order to strengthen Iraqi industry," he continued.
Al-Kazemi pointed to "the reasons for the policy of the US federalism against Iraq as a matter of pressure on the Iraqi government for that central bank, explained these things and demanded that the Federal Reserve to explain the reason for the rejection of remittances without justification."
He explained, "The regulation of financial transactions and foreign trade enhances Iraq's position in financial politics, and Iraq must deal with a basket of currencies in addition to the dollar gradually so that it is not governed by federal instructions in addition to reducing import."
"The government has a real battle to address the economic situation and the political blocs are required to strongly support this trend," Al-Kazmi concluded.
************
CandyKisses: Political movement to cancel the strategic framework agreement between Baghdad and Washington
Information / Baghdad...
MP Ali Turki revealed on Wednesday that there is a political movement to cancel the strategic framework agreement with the US side after the parliament resumes its sessions in the next few days, after the continuous US attacks on the Iraqi security services.
Turki told Al-Maalouma that "parliament held a session in the past few months to condemn the US attacks and all the indiscriminate bombing carried out by the occupier on the security services and the Popular Mobilization."
He added that "after the parliament resumes its sessions, it will witness a movement within the House of Representatives to cancel the strategic framework agreement signed between the Iraqi government and the American side in the past period."
He pointed out that "canceling the agreement would distance the government from any justifications that allow it to continue and work in accordance with the agreement signed between Baghdad and Washington, despite the government's explicit announcement that there is no need for the presence of any foreign combat forces on the ground of Iraq."
Mot: ... Finally!!!!!
Mot: . the Truth Beeee Told!!!!!
Iraq Economic News and Points to Ponder Late Tuesday Evening 12-26-23
Iraq Economic News and Points to Ponder Late Tuesday Evening 12-26-23
Tlm724 Administrator Bondlady’s Corner
Before The Eyes Of The Honorable Prime Minister Is A Vision To Activate The Achievement Of Economic Reform (2024-2026)
Samir Al-Nusairi Through an analysis of what was stated in the government curriculum of the government of the Sudanese President, which is the ninth government after the change in 2003, and which has been in charge for a year and two months, and which was called the services government, it was able to accomplish an acceptable percentage of the goals specified in the government curriculum in accordance with the vision of the Prime Minister, which included many Of the economic sectors and fields, which occupied nearly most of the aspects of the government curriculum, because without achieving comprehensive and radical economic reform, which begins with financial and banking reform, the full goals and visions of the government cannot be achieved.
Therefore, the government curriculum, as I see it, is a four-year strategy to achieve the economic reform revolution.
The reason for launching this strategy is “because Iraq, after 19 years of economic failures, mismanagement, and mismanagement of public funds due to administrative and financial corruption, the loss of the sound economic approach, political tensions, and instability in the business environment, has led to dependence on oil as a primary resource of public budget revenues, which constitutes up to 93% of the total resources, up to 60% of the gross domestic product, and failure to activate the productive sectors that generate national income.
Iraq Economic News and Points to Ponder Late Tuesday Evening 12-26-23
Tlm724 Administrator Bondlady’s Corner
Before The Eyes Of The Honorable Prime Minister Is A Vision To Activate The Achievement Of Economic Reform (2024-2026)
Samir Al-Nusairi Through an analysis of what was stated in the government curriculum of the government of the Sudanese President, which is the ninth government after the change in 2003, and which has been in charge for a year and two months, and which was called the services government, it was able to accomplish an acceptable percentage of the goals specified in the government curriculum in accordance with the vision of the Prime Minister, which included many Of the economic sectors and fields, which occupied nearly most of the aspects of the government curriculum, because without achieving comprehensive and radical economic reform, which begins with financial and banking reform, the full goals and visions of the government cannot be achieved.
Therefore, the government curriculum, as I see it, is a four-year strategy to achieve the economic reform revolution.
The reason for launching this strategy is “because Iraq, after 19 years of economic failures, mismanagement, and mismanagement of public funds due to administrative and financial corruption, the loss of the sound economic approach, political tensions, and instability in the business environment, has led to dependence on oil as a primary resource of public budget revenues, which constitutes up to 93% of the total resources, up to 60% of the gross domestic product, and failure to activate the productive sectors that generate national income.
” Which led to "ambiguity of the vision and lack of clarity in the decisions of the reform process of previous governments, except for some achievements achieved by the Central Bank of Iraq during the past years, in which it overcame the challenges of monetary policy in proportions that enabled it to maintain the stability of the dinar exchange rate during the years (2017-2020) and build foreign currency reserves."
Excellent, maintaining the general level of prices and the annual rate of inflation around 2%. This contributed to overcoming the economic and security crises in 2014 and addressing the decline in global oil prices by more than 70%.
This confirms that the government and the Central Bank have reviewed the previous reform policies in 2023 through diagnosis and analysis and have concluded that economic problems are the cause of most of Iraq’s crises and that “the real solution to Iraq’s crises is to work in the manner of comprehensive change, and here I mean drawing a strategy for a road map for the economic, administrative and legislative revolution by adopting the change.” radically for the coming years, while benefiting from the experience of institutions and individuals in charge who have achieved previous success experiences in confronting crises.
On the occasion of the Prime Minister’s announcement that the year 2024 will be a year of achievements, it is an affirmation of the insistence on implementing the road map set out in the government curriculum in a way that supports economic, financial and banking reform, and it will be accomplished.
All investment, service, administrative, technical and structural projects to support the national economy and maintain the stability of the Iraqi dinar exchange rate in the monetary trading market. For the purpose of activating the reform measures for the years (2024-2026), the following was proposed before the attention of the Prime Minister:
Firstly, starting a systematic movement to draw a road map for administrative, legal and economic reform carried out by the Iraqi economic, financial and banking elites and competencies (governmental and private sector) by creating the Supreme Economic Council and representing the private banking sector in its membership as the financing sector which must contribute to investment.
The movement should be based on The reform system relies on several important economic pillars, adopts a new methodology for managing the economy, and achieves the central goal of moving the economy from rentier to productive, from cash to digital, and activating productive sectors other than oil to reach 50% of general budget revenues in 2026, creating sustainable development, and achieving diversity in... Resources and the development of economic and human structures in order to properly build the national economy and build the foundations for the transition to a social market economy, provided that its recommendations, after approval by the Council of Ministers, are binding for implementation by the ministries, agencies and concerned parties.
Second - Forming a (Central Follow-up Committee) linked to the Prime Minister’s Office to follow up on the implementation of decisions and having the authority to monitor and evaluate. It is formed under the chairmanship of the Prime Minister and the membership of an elite group of advisors, government experts, and private sector experts.
Third - Moving to the central administration of the economy so that the principle of (centralized planning and decentralized implementation) is implemented. This means that the Supreme Council of the Economy is responsible for drawing up plans and policies centrally and distributing their implementation to the ministries and specialized bodies within the government structure after the approval of the Council of Ministers.
Fourth - Providing soft loans to finance small, medium and large projects and establishing a legal and institutional system to manage, grow and develop them, and issuing a special law for them. As well as issuing and amending the laws of the legal environment to regulate the economic process, and here this means issuing new laws instead of the laws that were issued in 2004. Due to the changes that occurred. in the national economy during the past two decades.
Fifth - Activating investment in the agricultural, industrial, energy, tourism, services and housing sectors, as well as working to reform, develop and grow the banking sector through monetary policy applications and regulating the relationship and restrictions that govern financial and monetary policies, as well as a serious approach to reforming the tax, financial and customs system. Addressing cases of failure to achieve the required growth rates in national income and exceeding the rise in unemployment and poverty rates.
Sixth - Developing a new methodology to overcome the challenges of instability in the financial system and the monetary system. This means developing coordinated and balanced plans to overcome the challenges of monetary policy and the challenges of the non-oil revenue deficit and the deficit in the balance of payments and the trade balance.
Seventh - Accelerating the implementation of the e-government program and coordinating it with the electronic payment system.
Focusing on following up on the decisions issued by the government regarding the use of electronic payment in commercial exchanges and banking operations and activating the establishment of the National Electronic Payment Company, which the Central Bank recently announced.
112 views 12/26/2023 - https://economy-news.net/content.php?id=38859
Government Advisor: Iraq Will Enter The Advanced Digital Era In Early 2024
Money and business Economy News – Baghdad The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Tuesday, that Iraq will enter the advanced digital era early next year, 2024, with a major official announcement.
Saleh said, “The government curriculum of Prime Minister Muhammad Shiaa Al-Sudani focused on reform work principles in public administration, which took two basic directions, namely eliminating the phenomenon of corruption in general and systemic corruption in particular, which is the most dangerous corruption that more than one detail within the apparatus contributes to.
” The second trend is to maximize the state’s non-oil revenues and make their percentage in the federal general budget estimates no less than 20% instead of their low percentages of about 10% or even less, in order to ensure the goals within the ongoing reform years.”
He added, "Non-oil revenue agencies, which are led today by customs and tax authorities, border crossings, and others, are at the forefront of financial and administrative reform trends. At the level of international indicators, there are three elements that mostly frustrate countries' efforts to combat financial and administrative corruption, and they are summarized as follows:
The first is dealing with paper transactions." With the public and direct human communication, the second: direct cash dealing in settling taxes and others and the risks it generates in behavior, and the third: the absence of digital systems in managing transactions without human intervention.”
He continued: “Based on the above, and in order to achieve the goal of the government program in reforming and replacing digital systems in dealing with non-oil revenue devices, a precise digital program is being rapidly adopted by the government today, and is based on assessment, examination, and electronic collection without direct human intervention and in accordance with Advanced digital systems are implemented with sound national expertise and in cooperation with major international digital companies, in addition to the expertise of the United Nations Development and Trade Organization, especially in the sectors of digital development in border crossings, customs and taxes.
Thus, at the beginning of the year 2024, Iraq will have entered the rapidly advanced digital era and there will be A major official announcement in this regard.”
He pointed out that "replacing payment systems and spreading digital engagement, starting with digital government collection and ending with large and small payments within economic activity, will crown the new digital era for Iraq," noting that "the acceleration in the use of electronic payments is one of the guarantees of banking work, safety and integrity.
" This is due to the decrease in what is called (liquidity risk) in the banking system due to its knowledge of daily flows and balances continuously without stopping, which makes banks deal with (functions) of flexible monetary demand that are not diminished by liquidity or anticipating its loss, that is, without the availability of sufficient information due to the high state of uncertainty.
Certainty, which is the prevailing characteristic in the absence of digital payment systems, which simultaneously disrupts and the need for accelerated financing to support economic activity.”
He stressed that "such phenomena will all undoubtedly disappear in the digital banking system, and the risks of cash liquidity will decrease due to the high levels of certainty in the flow of funds provided by digital systems in transactions between the public on the one hand and the public and banks on the other hand, within the framework of running a highly governed digital payments system." And financial transparency and meets the needs of the growing economic business sector without the doubts and hesitations imposed by liquidity risks due to lack of information.”
He pointed out that “there is an interconnection between financial inclusion, which means delivering banking services to the weakest segments of economic society, and the development of digital payments, as replacing digital payments includes expanding and upgrading the number of bank accounts, and opening a bank account represents the essence of digital financial inclusion, as it is observed with the development of the payments market Digital in Iraq:
The phenomenon of the growing phenomenon of opening bank accounts has recently increased remarkably, with tens of thousands of bank accounts being opened daily and continuously, according to what the Association of Private Banks stated a few days ago, which means that the Iraqi banking system is in a movement of rapid change and development commensurate with And the new digital era for Iraq, the principles of which were established by the current government program.”
158 views 12/26/2023 - https://economy-news.net/content.php?id=38875
The Council Of Ministers Issues A Number Of Decisions, Including Approval Of The Draft Economic Reform Law
Tuesday 26, December 2023 20:10 | Political Number of readings: 117 Baghdad / NINA / Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani chaired the fifty-second regular session of the Council of Ministers, during which the general situation in the country was discussed, the most prominent economic and service files included in the government program were discussed, the topics of the agenda were discussed, and directives and decisions were taken. about it.
Within the framework of the government’s support for the sports sector, and with the aim of supporting the journey of our national team in the Asian Cup Championship, which will begin next month in Qatar, the Prime Minister directed the Ministry of Transport to operate discounted flights for Iraqis wishing to attend the tournament, who have official cards approved by the organizing committee. He also directed The Ministry of Foreign Affairs to communicate with the Qatari side in order to facilitate obtaining entry visas for them.
The Council of Ministers approved the granting of ownership to the displaced and displaced families from the Salin area in Basra Governorate, numbering 250 families. The lands previously allocated to them outside the borders of the municipality of Basra at the real price, as an exception to the public bidding procedures stipulated in the amended Law on the Sale and Rent of State Funds (21 of 2013).
In the context of continued government support for youth, the Council of Ministers agreed to amend Paragraph (29) of Council of Ministers Resolution (23465 of 2023) regarding youth proposals, to become as follows: -
Grant funding for the winning programs will be from the amount of 5 billion dinars, allocated to the Department of Non-Governmental Organizations, In the General Secretariat of the Council of Ministers; To support volunteer organizations and teams.
As part of the Prime Minister’s directives to proceed with the completion of projects whose commencement was delayed, including the Baghdad Metro Project, the Council agreed to include (preparing designs and supervising the implementation of the Baghdad Metro Project) in the investment budget schedules of the Baghdad Municipality for the year 2023, at a total cost of (913804000000) dinars, only nine hundred dinars.
Thirteen billion, eight hundred and four million dinars, after completing the listing requirements by the Baghdad Municipality and confirming that the investor will subsequently bear the full cost of the project.
In the energy file, the recommendation of the Ministerial Council for Energy (23101) of 2023 was approved regarding the approval of the recommendation of the opinion body in the Ministry of Electricity, according to the following:
Authorizing the Minister of Electricity, or whomever he authorizes, to sign the memorandum of principles of cooperation between the Ministry of Electricity and the Toyota Tsusho Corporation. ) In line with the Ministry’s plan and the available financial allocations.
Also in the energy file, the recommendation of the Ministerial Council for Energy (23098 I) for the year 2023 was approved, according to the following:
1. The share of the Ministry of Oil/Basra Oil Company in the West Qurna/1 field in operation will be financed, based on what was stated in the Council of Ministers’ decision ( 2 of 2022) in the amount of (250) million dollars, during the allocation of quantities of crude oil issued by the Oil Marketing Company and depositing their values in a bank account opened for this purpose (outside Iraq), and this is regulated by a special agreement with the new main operator of the field (Basra Oil Company).
2. Because the field is one of the components of the petroleum licensing rounds project included in the investment plan, which is financed in kind with crude oil, therefore the restrictive settlement for the amount indicated in Paragraph (1) mentioned above is organized from the project allocations included in the Federal General Budget Law (13 of 2023) and in the same manner. The mechanism used by the Ministry of Finance in conducting settlement entries for other oil fields.
3. The profit wages, administrative charges, and benefits resulting from its participation in the service contract for the West Qurna/1 field will be for the benefit of the Basra Oil Company, similar to the company’s share in the Zubair oil field.
4. Signing a share sale agreement between ExxonMobil and Basra Oil Company, which entails paying the share sale price after making the final settlement in kind with crude oil.
The Council of Ministers approved increasing the capital of the General Company for Private Transport Management to (30301762716) dinars, only thirty billion three hundred and one million seven hundred and sixty-two thousand seven hundred and sixteen dinars, instead of its current capital of (675) million dinars, with an increase of (29626762716) dinars.
Only twenty-nine billion, six hundred and twenty-six million, seven hundred and sixty-two thousand, seven hundred and sixteen dinars, based on the amended Public Companies Law (22 of 1997), and the Ministry of Transport is responsible for taking the necessary measures to implement what was stated in Paragraph (1) mentioned above.
As part of the governmental approach to supporting antiquities and heritage, the recommendation of the Ministerial Council for Human Development (23037 B) for the year 2023 was approved, which includes approval to refer the projects of rehabilitating the Nineveh Wall and the Kirkuk Citadel (among the projects of rehabilitating and preserving antiquities) to reputable companies accredited by specialized UNESCO, adopting a method Direct invitation, as an exception to the contracting methods specified in the Government Contracts Implementation Instructions (2 of 2014) due to the specialized nature of these projects.
It was also approved to correct the procedures undertaken by the Babylon Governorate and to prepare a contract formula, regarding the project to rehabilitate the road linking the Baghdad Governorate and the Holy Karbala Governorate, to follow the fundamental procedures for disbursing the due entitlements to the two implementing companies (Sarh Babel Company and Qimma Al-Hussam Al-Arabi Company), with the contract including the responsibility of the entity.
The Babil Governorate undertakes to inventory the executed works and review their conformity with the required technical specifications, according to the schedule of quantities prepared in advance, the reality of the implementation status, and the hidden armor reports, with the support of the relevant technical committees.
The Council of Ministers approved the recommendations of the Ministry of Higher Education and Scientific Research regarding returning the headquarters of the Federation of Arab Scientific Research Councils to Iraq, as follows:
1. The Ministry of Higher Education and Scientific Research prepares the headquarters of the Federation of Arab Scientific Research Councils in Iraq, by carrying out restoration and rehabilitation of the building, And completing the furnishing requirements, allowing it to carry out its activity, and from the revenues of the Higher Education Fund at the Ministry’s center.
2. Instructing the Ministry of Finance that Iraq’s contributions be 50% of the Union’s annual budget, starting from the fiscal year 2025.
3. Instructing the Ministry of Foreign Affairs to facilitate the procedures for employees of the Union of Arab Scientific Research Councils.
4. Private universities provide the necessary support to the Union in accordance with the Private Higher Education Law No. 25 of 2016.
The Council of Ministers continued to discuss other topics on the agenda, and the following decisions were taken:
First: Approval of the draft economic reform law and sending it to the State Council; To have it properly audited, then return it to the General Secretariat of the Council of Ministers. To refer it directly to the House of Representatives, based on the provisions of the Constitution, taking into account the observations presented during the hearing.
Secondly: Amending the name (Baghdad International Film Festival/First Session), stated in Council of Ministers Resolution (23098 of 2023), to become the name (First Youth Cinema Festival of 2023).
Third: Approval of what came from the Ministry of Interior, regarding the project to establish, equip and install an integrated camera system, and the costs of the cameras will be covered from the revenues of the border crossings (50%) share of Baghdad Governorate, according to the contract concluded between the implementing company and the Ministry of Interior.
Fourth: reallocate an amount to the Ministry of Health; To finance contracts for medicines, medical devices, and medical supplies, based on the provisions of the Federal Budget Law (13 of 2023), retrieved from the International Agreement on Vaccines (GAVI). https://ninanews.com/Website/News/Details?key=1097606
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
Provoking Points To Ponder on Power:
Power only tires those who don't exercise it. - Pierre Elliott Trudeau
The only justification in the use of force is to reduce the amount of force necessary to be used. - Alfred North Whitehead
Not believing in force is the same as not believing in gravitation. - Leon Trotsky
The first principle of a civilized state is that the power is legitimate only when it is under contract. - Walter Lippmann
He was one of those men who possess almost every gift, except the gift of the power to use them. - Charles Kingsley
Force is never more operative than when it is known to exist but is not brandished. - Alfred Thayer Mahan
Famous Quotes and Authors, Famous Quotations for all Occasions
MilitiaMan: Iraq Dinar - Global Financial System - Digital - Revaluation - Dinar National Currency - Commercial
Iraq Dinar - Global Financial System - Digital - Revaluation - Dinar National Currency - Commercial
MilitiaMan and Crew: 12-26-2023
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 - Global Financial System - Digital - Revaluation - Dinar National Currency - Commercial
MilitiaMan and Crew: 12-26-2023
The Crew: Samson, PompeyPeter, Petra, Angel1, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Goldilocks' Comments and Global Economic News Tuesday Evening 12-26-23
Goldilocks' Comments and Global Economic News Tuesday Evening 12-26-23
Good Evening Dinar Recaps,
"The relationship between currencies and bond spread affects countries' interest rates. The price of currencies can impact the monetary policy decisions of central banks around the world. Monetary policy decisions and interest rates can also dictate the price action of currencies."
There is a lot of talk going around that currencies can go before bonds, you might want to take a look at these articles. The bond spread has a direct correlation to currency prices. No one goes until Isaac goes.
© Goldilocks
Goldilocks' Comments and Global Economic News Tuesday Evening 12-26-23
Good Evening Dinar Recaps,
"The relationship between currencies and bond spread affects countries' interest rates. The price of currencies can impact the monetary policy decisions of central banks around the world. Monetary policy decisions and interest rates can also dictate the price action of currencies."
There is a lot of talk going around that currencies can go before bonds, you might want to take a look at these articles. The bond spread has a direct correlation to currency prices. No one goes until Isaac goes.
© Goldilocks
https://www.investopedia.com › forex
Bond Spreads: A Leading Indicator For Forex - Investopedia
Investopedia Link
~~~~~~~~~~
What Iraq Just Did Will Affect The Whole World- Economic Ninja
https://www.youtube.com/live/Vtq4-XdYnDc?feature=shared
~~~~~~~~~~
👆 The title of the above video is not what you may think. All he is doing is making people aware that the dollar is going away in Iraq and other countries.
2024 will be a year of chaos and opportunity. Many of the opportunities mentioned in this room have been brought up to help you survive and thrive in the years to come.
@ Goldilocks
~~~~~~~~~~
Hong Kong Financial Regulators Will Consider Spot Crypto ETFs Crypto Daily Link
~~~~~~~~~~
Deutsche Bank’s DWS launches EUR stablecoin launch via AllUnity Coin Geek Link
~~~~~~~~~~
XRP Poised for Dramatic Rise: Bard AI Predicts $5 Valuation West Island Blog Link
~~~~~~~~~~
Foreign exchange reserves rise by $9 bn in week to 20-month high at $616 bn
~~~~~~~~~~
XRP is expected to be used as payment in the USA.
~~~~~~~~~~
🚨XINFIN XDC🔥ALL HOLDERS GET READY🔥TOKENIZATION ON XDC STARTING!
https://youtu.be/H5B0kTUJJtc?feature=shared
~~~~~~~~~~
👆 Copper
~~~~~~~~~~
Something the media is not talking about:
Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates could join as full members of BRICS beginning January 1st.
This is how the world order changes.
Read: https://x.com/goldtelegraph_/status/1739684793674010706?s=46
~~~~~~~~~~
Ripple’s Chief Legal Officer Reveals SEC Approached Payments Firm With a Deal Before Filing Lawsuit
~~~~~~~~~~
Stellar: Understanding the Protocol 20 Upgrade Crypto News Flash
~~~~~~~~~~
Follow Goldilocks' Roadmap
Follow Goldilocks' Timeline
Goldilocks' Telegram Room
Q & A Telegram Room
Goldilocks Forum
Goldilocks on the Seeds of Wisdom Team™ Website
Subscribe to Newsletter
Thank you Dinar Recaps