Iraqi News Highlights and Points to Ponder Sunday AM 3-17-24

Iraqi News Highlights and Points to Ponder Sunday AM 3-17-24

The Iraqi Dinar Recovers Against The Dollar In Local Markets

Baghdad today - Baghdad   Today, Sunday (March 17, 2024), the exchange rate of the dollar against the Iraqi dinar recorded a noticeable decline, reaching 149 thousand for every 100 dollars.

The "Baghdad Today" correspondent said, "The exchange rate of the dollar today, on the Al-Kifah and Al-Harithiya stock exchanges, reached 149,900 dinars for every 100 US dollars."

He added, "As for the exchange rate in the banking offices in the capital, Baghdad, the selling price reached 151,000 dinars per 100 dollars, and the purchase price reached 149,000 dinars per 100 dollars."

Yesterday, Saturday, the exchange rate of the dollar on the Baghdad Stock Exchange reached 150,000 dinars for every 100 dollars, while in Basra Governorate it reached 150,100 dinars, and in Erbil it reached 150,150 dinars.  LINK

For The First Time In 2024.. Exchange Rates Fall To The Threshold Of 149 Thousand In Baghdad

Money  and business  Economy News – Baghdad  The dollar exchange rates recorded, in Iraqi stock exchanges, during Sunday’s trading, a decline, the first of its kind during the current year.

The exchange rates at the Al-Kifah and Al-Harithiya stock exchanges in the capital, Baghdad, reached 149,900 dinars for every 100 dollars, while in Basra, they stabilized at the 150,000 mark.

In the governorates of the Kurdistan region, exchange rates reached 150 thousand dinars for every hundred dollars...  Views 104 03/17/2024 - https://economy-news.net/content.php?id=41558

Parliamentary Finance Calls On The Government To Expedite Sending The 2024 Budget To Parliament

Economy  11:37 - 2024-03-17  The Parliamentary Finance Committee called on the government to expedite sending the budget to the House of Representatives, especially since its schedules have not undergone any change and its chapters are fixed, indicating that the delay is blamed on the government and thus reflects negatively on the performance of the ministries.

Committee member, Faisal Al-Naeli, said in a press interview: “The budget schedules for 2024 were long overdue, and it would have been better for them to reach the House of Representatives at the beginning of this year, especially since the items are fixed and remaining and no discussion or change has occurred to them, only the schedules that included financial allocations.” For the items that were confirmed in the 2023 budget.

He believed that "the delay is blamed on the government, and all ministries that depend on operating the budget are basically at a standstill." Al-Naili called on “the government to send all the budget schedules, complete and calculated accurately, so that they are not returned to the Council of Ministers and take time to change, delete, and add,” indicating that “the House of Representatives is ready to discuss the budget as soon as it arrives and complete the approval of its schedules.” https://kirkuktv.net/AR/Details/20039

Parliamentary Finance: Delaying the budget had a negative impact on the performance of the ministries

The first  03/17/2024  The Parliamentary Finance Committee called on the government to expedite sending the budget to the House of Representatives, especially since its schedules have not undergone any change and its chapters are fixed, indicating that the delay is blamed on the government and thus reflects negatively on the performance of the ministries. Committee member Faisal Al-Naeli said in an interview with Al-Sabah:

“The budget schedules for the year 2024 were long overdue, and it would have been more effective for them to reach the House of Representatives at the beginning of this year, especially since the items are fixed and remaining and no discussion or change has occurred to them, only the schedules that It included financial allocations for items that were confirmed in the 2023 budget.

He believed that "the delay is blamed on the government, and all ministries that depend on operating the budget are basically at a standstill."

 Al-Naili called on “the government to send all the budget schedules, complete and calculated accurately, so that they are not returned to the Council of Ministers and take time to change, delete, and add,” indicating that “the House of Representatives is ready to discuss the budget as soon as it arrives and complete the approval of its schedules.”   Edited by: Wael Al-Maluk  https://alsabaah.iq/93580-.html

A Representative Holds Kurdistan Responsible For The Faltering Legislation Of The Oil And Gas Law

Information / Baghdad..  Member of the Parliamentary Oil, Gas and Natural Resources Committee, Kazem Al-Touki, confirmed today, Sunday, that the approval of the oil and gas law has been stalled due to the high ceiling of claims of the Kurdistan Regional Government.

Al-Touki told Al-Maalouma, “The high ceiling of the region’s demands has hindered the approval of the oil and gas law in the House of Representatives, as some technical points have turned into political points.”

He added, "The regional government is obligated to sit at the dialogue table to legislate the oil and gas law, as it is one of the important laws."

He continued, "The Oil Law aims to regulate the relationship and operations of extracting oil and gas in Iraq, as well as the financial relationship with regard to the dealings of regions and governorates not affiliated with the central government." LINK

Provoking Points to Ponder on Decisions 

We are not permitted to choose the frame of our destiny. But what we put into it is ours.  - Dag Hammarskjold

There is a point at which everything becomes simple and there is no longer any question of choice, because all you have staked will be lost if you look back. Life's point of no return. - Dag Hammarskjold

Optimism is an intellectual choice.  - Diana Schneider

The lame man who keeps the right road outstrips the runner who takes a wrong one ... the more active and swift the latter is, the further he will go astray.  - Francis Bacon

Nothing is more difficult, and therefore more precious, than to be able to decide.  - Napoleon Bonaparte

http://famousquotesandauthors.com/quotes_by_topic.html                                   

http://famousquotesandauthors.com/topics/decisions_quotes.html 

Global Financial Institutions Participate in Large-scale Blockchain Pilot Test

Global Financial Institutions Participate in Large-scale Blockchain Pilot Test

Saturday, 16 March 2024, 21:37 PM

Since the Canton Network’s inception, 155 participants from 45 major organizations have settled real-world assets across 22 blockchains. Current participants of the Canton Network include Deloitte, Deutsche Börse, Microsoft, Moody’s and S&P Global. 

Major financial institutions, including Goldman Sachs, BNY Mellon and Cboe Global Markets, have completed a large-scale pilot test using blockchain technology.

According to a March 12 Bloomberg report, institutional investors executed over 350 simulated transactions via distributed ledger technology in areas such as tokenized assets, fund registry, digital cash, repo, securities lending and margin management on the Canton network, which was launched in May 2023 by startup Digital Asset Holdings. The pilot test included 15 asset managers, 13 banks, four custodians, three exchanges and the stablecoin issuer Paxos Trust.

In its announcement the same day, the Canton Network said that 155 participants from 45 major organizations have since demonstrated settlement across 22 permissioned blockchains connected to its ledger. The firm stated: 

“Over a four-day period, participants were invited to try 22 dApps comprising five fund registries, five cash registries, three bond registries, three trading, four margin, and two financing apps, to exchange tokenized securities, money market funds, and deposits across applications.”

The Canton Network is a privacy-enabled interoperable blockchain network designed for institutional investors. In part, the blockchain allows financial institutions to move regulated assets, data and cash between each other in real time. 

“With the Canton Network, a digital bond and a digital payment can be composed across two separate applications into a single atomic transaction, guaranteeing simultaneous exchange without operational risk,” according to a press release from Canton. It added, “Likewise, a digital asset could be used in a collateralized financial transaction via connection to a repo or leveraged loan application.”

Current participants of the Canton Network include Deloitte, Deutsche Börse, Microsoft, Moody’s and S&P Global. 

Over the past year, tokenization has garnered significant interest from institutional investors and celebrities alike. On Feb. 7, the Hong Kong subsidiary of Swiss multinational bank UBS tokenized an options call warrant of Chinese smartphone giant Xiaomi’s stock on Ethereum together with local crypto exchange OSL.

A few weeks later, Argentine soccer legend Lionel Messi announced the release of a tokenized product in partnership with Join The Planet, an environmental nonprofit organization behind the PLANET token. 

https://dinarchronicles.com/2024/03/16/global-financial-institutions-participate-in-large-scale-blockchain-pilot-test/

"Tidbits From TNT" Sunday 3-17-2024

TNT:

CandyKisses:  A representative stresses the importance of legislating the law on removing foreign forces

Information / Baghdad.. 

Today, Sunday, a member of the House of Representatives, MP Muhammad Al-Ziyadi, stressed the necessity of legislating a law to remove foreign forces from Iraq.

 Al-Ziyadi told Al-Maalouma, "The removal of foreign forces of all types and names has become a national demand, and that legislating the law to remove these forces is binding on all political forces, and it is not limited to a specific group or component."

He added, "The presence of these forces in Iraq violates national sovereignty, so legislating the law to remove foreign forces has become a national necessity."

He pointed out that "the political forces have authorized the Sudanese government and granted it full powers to manage discussions with the international coalition led by the United States of America to schedule the withdrawal, stressing the importance of "legislating the law to be supportive of the government in its negotiations."

CandyKisses:  Strike in Sulaymaniyah traffic due to delayed payment of salaries

Baghdad Today - Sulaymaniyah

An informed source reported on Sunday (March 17, 2024) that Sulaymaniyah governorate traffic employees boycotted work due to the delay in paying their salaries.

The source said in an interview with "Baghdad Today" that "according to information, the employees of the Sulaymaniyah Traffic Directorate announced, this morning, a strike from work."

"The reason for the boycott is the delay in the payment of their salaries, despite the money being sent by Baghdad," he said.

This strike is not the first of its kind, as the employees of the Sulaymaniyah Traffic Directorate announced, on Sunday (January 28, 2024), a strike from work, and the work and transactions of citizens have stopped, due to the non-payment of salaries.

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CandyKisses:  Within a week. Iraq's oil exports to the US decline

Economy News - Baghdad

The U.S. Energy Information Administration announced on Sunday that Iraq's oil exports to the United States have declined over the past week.

"The average US imports of crude oil during the past week from 8 major countries amounted to 4.691 million barrels per day, down by one million and 92 thousand barrels per day from the previous week, which amounted to 5.783 million barrels per day," a management table showed.
"Iraq's oil exports to the United States amounted to 93,000 barrels per day last week, down by 83,000 barrels per day from the previous week, which amounted to 176,000 barrels per day," she said.

"The most oil revenues for America during the past week came from Canada at a rate of 3.458 million barrels per day, followed by Mexico with an average of 303,000 barrels per day, and from Brazil at a rate of 272,000 barrels per day," the administration said.

According to the table, "the amount of US imports of crude oil from Saudi Arabia was at a rate of 265,000 barrels per day, from Nigeria at a rate of 132,000 barrels per day, from Ecuador at a rate of 102,000 barrels per day, and from Libya at a rate of 66,000 barrels per day."

According to the table, the United States did not import any quantity from Colombia and Russia.

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CandyKisses: Investment confirms the adoption of a new method in new residential cities and clarifies its details

Economy News - Baghdad

The National Investment Authority confirmed  that Prime Minister Mohammed Shia Al-Sudani provided full support to Hanwa Company for the completion of the city of Bismayah, and while it counted the new housing projects to be established in Baghdad, it confirmed the adoption of a new method and clarified its details.

The official spokesman for the National Investment Commission, Muthanna Al-Ghanmi, said in a statement reported by the official news agency, and seen by "Economy News", that "the Commission signed a contract with the Korean Hanwha Company under the auspices of Prime Minister Muhammad Shia Al-Sudani to complete the city of Bismayah, and this contract was a gateway to the real start of the return of business within the city," indicating that "the city is considered one of the largest development and investment projects in Iraq and includes more than 100 thousand housing units."

He added that "the number of inhabited units is 20,000 units," noting that "there are 9,480 new housing units distributed ready-made and completed to citizens, and the number of 1,440 units remained, of which more than 8,000 units."

He stated that "the authority announced in more than one meal the names of those eligible to receive these housing units for applicants to purchase units in the years 2021, 2022, the first month and the second month of 2023," explaining that "the company's president provided the Prime Minister with full readiness to complete the new housing units, which number 70,000 housing units."

He stressed that "meals will be announced from the names of those eligible successively, up to the last housing unit of the final total of more than 8,000 housing units currently working on," noting that "after that we will move to the new contract for the implementation of 70,000 housing units and thus complete the picture with a hundred thousand housing units for the Bismayah city project."

He stated that "Hanwa Company has solid projects and works in several countries, through the establishment of units and major projects in the residential and non-residential sector and even electric power plants through waste incineration technology and investment," pointing out, "It is one of the companies that entered Iraq at a difficult time and deserves all support, as the Prime Minister pledged to support this company as long as there is achievement, accuracy and great satisfaction by citizens."

He pointed out that "the residential city of Al-Jawahiri was announced, and the National Investment Commission announced last June the city of Ali Al-Wardi, where the tenders were opened last August, and were referred to the companies that won the bids and analyzes according to the conditions and specifications mentioned in the announcement."

"There are residential cities announced in Baghdad, namely Bismayah, New Sadr City, New Jawahiri City and New Ali Wardi City, as well as 15 cities distributed across all provinces from north to center and south," he said.

He stressed that "the National Investment Commission will announce investment opportunities immediately after the completion of the procedures related to surveys, land acquisitions and auditing," pointing to "the adoption of a new investment method by the Prime Minister and the Chairman of the National Investment Commission in new residential cities, including the city of Ali Al-Wardi, which will include from 120 to 150 thousand housing units, as it will grant 25 percent of its units to the state for free, including it will be distributed to citizens in two parts, either free of charge for vulnerable and vulnerable groups, and another part in installments over a long term of 20-25 One year, while the rest of the housing units will be for the investor and the company."

He stated that "the state will intervene by setting prices to prevent the process of speculation and gain at the expense of the citizen," noting that "this method has not been raised since the establishment of the Investment Authority and the legislation of its law in 2006

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"Tidbits From TNT" Saturday 3-16-2024

TNT:

Tishwash:  Prime Minister: Iraq is about to host important events and conferences

Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Saturday, that Iraq is about to host important events and conferences.

The Prime Minister’s Media Office stated, in a statement received by (Al Oula News), that “Prime Minister Muhammad Shiaa Al-Sudani conducted a field visit to the Rixos and Movenpick hotel projects, which are being implemented in the center of the capital, Baghdad, and listened to a detailed presentation on the executive work of both projects. And look at the stages of completion.”

The Prime Minister stressed that “a city the size of the capital, Baghdad, is in dire need of large hotels, due to the tourist movement and official delegations it witnesses, and the fact that it hosts many Arab, regional and international conferences throughout the year, with the hotel occupancy rate currently reaching 100%.”

He stated that “Iraq is about to host important events and conferences, which requires making more efforts to complete these two hotels and the rest of the large hotels, which are currently being implemented in Baghdad.”

The statement pointed out that “these two projects are among several hotel projects being implemented in Baghdad, and the government has paved the way for them and pushed them forward through economic reforms and creating an attractive environment for foreign investments, which will help in completing them in the required time.”  link

Tishwash: A government directive is to issue electronic payment cards to university and school students and require restaurants to have them

An informed source revealed a government intention to expand the electronic payment application and reduce cash dealing.

 The source told Al-Furat News Agency that “electronic payment cards will be issued to university, institute and school students.”

He pointed out "the trend to oblige restaurant owners to deal with electronic payment within the plan prepared to expand the culture of electronic payment."  link

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Tishwash:  Sudanese Advisor: The government has adopted a flexible plan to recover funds and bad debts

The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, explained the details of a flexible government plan to recover funds and collect bad and accumulated debts.

Saleh said, “The government has granted the government banking system in general, and the Iraqi Trade Bank in particular, sufficient flexibility in re-collecting its uncollected debts granted to various natural and legal persons, which have accumulated over many years, in accordance with a fair and highly flexible collection program at the same time, which... It makes the assets of government banks and the Trade Bank of Iraq at a high quality level on an ongoing basis, and at the same time enhances the sustainability of government banking, financing official foreign trade, and strengthening financing guarantees linked to strategic development opportunities in the country.”

He added, "The government has adopted a flexible plan to recover funds, especially those that are in default due to accumulated historical reasons. It is a plan that will adopt flexible and solid solutions that are in the interest of the strength and stability of the government banking system and strengthening its assets and financial leverage."

He continued, "The financial and monetary authorities will exert, through their policies, supportive measures for the government banking system, which is no less important than the reform policy adopted by the aforementioned banks themselves and in accordance with their current development program in building an integrated, highly efficient banking market that serves the sustainable development and stability of the national economy."   link

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CandyKisses: These Countries Will Offset The OPEC+ Alliance's Voluntary Production Cuts In 2024

The U.S. Energy Information Administration expects demand in the United States, Guyana, Canada and Brazil to drive growth in global oil production in the near term, offsetting voluntary production cuts for the OPEC+ alliance.

The supply hike is expected after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, as part of the so-called OPEC+ alliance, agreed this month to extend voluntary production cuts of 2.2 million barrels per day (bpd) in an effort to support prices.

Why are these predictions important?

Growth from non-OPEC+ producers could undermine the alliance's efforts to balance oil markets amid concerns about global demand growth and increased supplies. The United States, Canada, Brazil and Guyana account for more than 80 percent of global supply growth in the current EIA projections.

Data

The Energy Information Administration said OPEC+ production of refined petroleum products will fall by 1 million barrels per day in 2024, while non-member countries' supplies will grow by 1.4 million barrels per day, led by the United States.

In 2025, OPEC+ production of oil products will rise by 900,000 barrels per day as production cuts end, while non-OPEC+ production will grow another 1.1 million barrels per day.

The Energy Information Administration said global supply of oil and refined petroleum products reached 101.8 million barrels per day in 2023, and is expected to rise by 400,000 barrels per day in 2024 and 2 million barrels per day in 2025.

U.S. oil production reached 13.3 million barrels per day in 2023 and is expected to grow by 400,000 barrels per day in 2024 and 800,000 barrels per day in 2025.

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MilitiaMan: Iraq Federal Court Brings - Strength to Financial - Political - Sovereignty - Iraq Currency - DINAR

Iraq Federal Court Brings - Strength to Financial - Political - Sovereignty - Iraq Currency - DINAR

MilitiaMan and Crew:  3-15-2024

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

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

.https://www.youtube.com/watch?v=bOzYyVlb11M

Goldilocks' Comments and Global Economic News Friday Evening 3-15-24

Goldilocks' Comments and Global Economic News Friday Evening 3-15-24

Good Evening Dinar Recaps,

Much of our transition taking place around the world has to do with the movement from a World Reserve Asset such as the Dollar to sharing this privilege with many Currencies around the world.

This changes economic policies in countries around the world, and it sets forth the need for new guidelines and protocols inside banking systems and marketplaces.

Laws have to be changed, Banking and Trading Protocols are changed, trading exchange rate percentages have to be changed, and more. On top of all of this, it has to be digitized.

The new Digital Financial System creates new standardized protocols that are backed by gold and other commodities. Everything has to run smoothly and with real values going forward. The QFS runs on precise measures enabling artificial intelligence to come in and carve out new pathways into our future we have never seen before.  BIS

© Goldilocks

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Stablecoin Announcement:

"Cardano (ADA), a prominent blockchain platform for smart contracts similar to Ethereum is set to introduce its premier fiat-backed stablecoin, USDM, in the United States on March 16th. This launch marks a key moment for the Cardano ecosystem, providing users with a reliable stablecoin pegged to the US dollar and enhancing accessibility to the platform’s features."

USDM coin lunches tomorrow from the Cardano Network. This coin will work well with Ethereum ERC20 smart contracts ensuring funds available on both sides of a trade.

USDM will be "coined" as a leading fiat-backed Stablecoin. It will start in 19 States inside America, and it will begin to move across the rest of them upon availability.   Coin Speaker

© Goldilocks

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"MiCA is a milestone in the cryptocurrency market since it is the first comprehensive regulation for the still-emerging technology. The framework defines the assets that fall under its jurisdiction, who can offer related products and services, and who has the authority to regulate and enforce the legislation."  Jan 10, 2024

MiCA is not expected to be fully complete until December, but the Stablecoin regulation portion of this comprehensive crypto regulation is expected to be done by the summer.

Stablecoins will allow the movement of our Tokenized Assets to be bought and sold across various Digital Networks. As we have said before, 90% of the global economy is expected to be tokenized by the end of the year.

The Bitcoin halving on April the 18th through the 22nd will be the takeoff point for many of these new Tokenized Assets to begin their steady climb, adoption, and integration into our new digital asset-based trading system.

At that time, we will see the Digital Economy begin to take our new Financial System into real values. This is expected to create price pressures across all sectors of the market which includes Forex.

The full revaluation of many of these assets will not be seen until early next year, but a new free floating economic system based upon supply and demand is about to transform our Financial World and transition us into a new economy.     Coin Gape  Investopedia 

© Goldilocks

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In a previous article, Europe stated that they would be finished with their comprehensive cryptocurrency guidelines called MICA by the end of May.

Today, we read that they would be finished with the Stablecoin section by the end of June. This will allow our cryptocurrency Market to accelerate. We also read that their comprehensive cryptocurrency would be finished by December.

After April, our cryptocurrencies will begin to move into a real value. This will put price pressures on currencies on all levels going forward to move into a real value. What remains to be seen is whether or not paper currencies will be invited into this process.

Currently, the full movement of cryptocurrency valuations has not completely started, but they have been released to begin correlating their Market values to new digital platforms being liquidated by people who have money to move the market.

Institutional money is about to change all of that after the Bitcoin halving. As our cryptocurrencies are currently decoupling themselves from predetermined prices, it is important for us to prepare ourselves for new changes that will take place in a rapid fashion after April the 22nd inside our new digital asset-based economy.

These events are layered on top of each other, and the cryptocurrency revaluation will be a major catalyst that will move money into our paper currencies.

© Goldilocks

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Bitcoin DeFi App Sovryn Is Expanding to Ethereum—Here's How - Decrypt

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What the PPI is Telling us: Disinflation in “Core Goods,” a Hefty Counterweight to Hot Services Inflation, May be Over | Wolf Street 

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ETNs are bonds issued by financial institutions tracking the performance of underlying assets - in this case crypto assets.

In a separate statement, the LSE said on Monday it would accept applications for the admission of bitcoin and ether ETNs from the second quarter of this year.   This is Money

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From tariffs on high carbon goods to technical regulations that set emissions targets, well-designed trade policy is critical to deliver Net Zero. But there is growing debate over whether such measures are compatible with international law.   JD Supra
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How the ECB’s new operational framework could impact bank liquidity and funding | articles | ING Think

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Gold & Silver supply shortage imminent? Feat.  Rob Kientz | YouTube

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Haiti's Currency Drops Here's What Happened | YouTube

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Stablecoin Sector Sees $3.26 Billion Growth Spurt; Tether Nears $100B Milestone, USDE Supply Swells by 374% – Altcoins Bitcoin News

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Here’s a full list of ISO 20022 coins and tokens:

XRP (XRP)
Cardano (ADA)
Quant (QNT)
Algorand (ALGO)
Stellar (XLM)
Hedera HashGraph (HBAR)
IOTA (MIOTA)
XDC Network (XDC)
Coin Codex

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The paper game is DONE | YouTube Shorts

👆 This short video is talking about the paper game in Comex. The Comex paper Gold and paper Silver trades are over.

Look for new physical silver and physical gold prices to emerge.

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Iraqi News Highlights and Points to Ponder Friday AM 3-15-24

Iraqi News Highlights and Points to Ponder Friday AM 3-15-24

The Battle For The Dollar And Illegal Trade Is Exhausting The Iraqi Market.. What Do Iranian Goods Have To Do With It?

Economy |Today, Baghdad today – Baghdad Economist Nabil Al-Marsoumi confirmed today, Friday (March 15, 2024), that eliminating illegal trade is the best way to reduce the gap between the official and parallel rates of the dollar against the dinar.

Al-Marsoumi said in a post on Facebook, “Finally, the Central Bank of Iraq admitted that illegal trade is the reason for the gap between the official and parallel rates of the dollar against the dinar.”

He added, "The solution lies in eliminating this trade and then stopping the import of Iranian goods specifically," stressing that "this is not possible practically or in maintaining this gap, which is what will most likely happen."

The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced on Thursday (March 14, 2024) an understanding with the US Treasury to reconsider the sanctions imposed on Iraqi banks.

Al-Alaq said in a press statement, after being hosted by the Parliamentary Finance Committee, on Thursday, and followed by “Baghdad Today”, that “the process of printing the local currency takes place according to the required financial cover.”

He pointed out that "the instability of the exchange rate is due to the presence of illegal trade carried out by small traders and some speculators."

During the past months, the United States prevented dozens of Iraqi banks from conducting transactions in dollars as part of a comprehensive campaign against transferring the American currency to Iran and other countries subject to sanctions in the Middle East.

The US Treasury - in cooperation with the Central Bank of Iraq - imposed stricter controls on financial transfers in the country in general. As a result, the value of the Iraqi dinar declined against the dollar, and the prices of imported goods rose.   LINK

America Renews Its Permission For Iraq To Pay The Costs Of Iranian Gas Supplies

March 15, 2024  Baghdad/Al-Masala Al-Hadath: The US State Department revealed the reason for the exemptions granted to Iraq to import gas and energy from Iran despite the sanctions, noting that the exemptions aim to give Iraq an opportunity to reduce its imports and reduce its dependence on Iran.

US State Department spokesman Matthew Miller said, “The exemption, which expires at the end of this month, has been renewed for the 21st time. These exemptions were issued regularly to Iraq, and date back to 2018 under the previous administration.”

Miller pointed out that the money that Iran earns from selling electricity to Iraq is not allowed to enter Iran, adding that the money is kept in “restricted accounts and can only be used in transactions for the purchase of food, medicine, medical devices, and agricultural products,” as well as “other non-profit transactions.” subject to punishment.”

He explained, “Part of the broader US goal is to move Iraq away from relying on Iran to provide electricity because that is what these exemptions do.”

Miller pointed out that Iraq has made real progress on its path towards achieving energy sufficiency since 2020, noting that it has reduced its imports of Iranian energy by more than half over the past decade, and has doubled its electrical energy generation, and we will continue to work with them and support them in their attempt to become independent in the field of energy. . https://almasalah.com/archives/85596

Immigration Begins Distributing 4 Million Dinars To Each Family Recently Returning To Sinjar District

03-15-2024 | Al-Sumaria News - Local Affairs   The Ministry of Immigration and Displacement announced today, Friday, the direct distribution of 4 million dinars to each family recently returning to Sinjar district.

The Ministry stated in a statement received by Al-Sumaria News, “In implementation of the decisions of the Council of Ministers, and based on the directives of the Minister of Immigration and Displacement, Ivan Faiq Jabru, the Ministry’s cadres began distributing (instruments) of financial grants to families recently returning from displacement camps to their original residential areas in the Sinjar district of Nineveh Governorate.” At a rate of four million dinars per family.

She added, "This initiative comes to encourage displaced families to return voluntarily before the date of closing the displacement camps on the 30th of next July, according to the directives of Prime Minister Muhammad Shiaa Al-Sudani."

The ministry added, "The rest of the families who will leave the camps and return to their areas will be included in financial grants, relief aid, and durable goods to support stability in the areas of return." LINK

America Takes Action Regarding Iraq's Transfer Of Electricity Supply Costs To Iran

Money  and business  Economy News – Baghdad  US State Department spokesman Matthew Miller said that the United States renewed a 120-day waiver allowing Iraq to pay money to Iran in exchange for supplies of electricity, according to Reuters.

Washington began issuing exemptions last year, stressing that the funds could only be used for non-sanctioned transactions such as purchasing humanitarian goods, including food and agricultural products.

Iraqi electrical stations rely heavily on Iranian gas, but due to US sanctions on Tehran, Baghdad cannot pay the dues to import gas from Iran directly. Rather, Tehran must use that money to buy food or health goods.

However, this mechanism is complex and often results in delays. Iran often cuts off supplies that cover a third of Iraq's needs, to urge Baghdad to pay its dues.

Although Iraq is an oil country, it relies heavily on Iran in the field of energy, as it imports a third of its consumption needs of gas and electricity due to its dilapidated infrastructure, which makes it unable to achieve self-sufficiency to secure the needs of its population of 40 million people.

Views 77   03/15/2024 - https://economy-news.net/content.php?id=41506

American Will.” A Politician Explains The Reasons For The Electricity Supply Crisis In Iraq[/Size]

Posted On03-15-2024 By Sotaliraq

Political analyst, Haider Arab, today, Thursday, attributed the crisis in supplying electrical energy to the American will, which is trying to continue it in Iraq, adding that the stability of the country on the political, economic, and security aspects will end the role of many Arab countries.

Arab said in an interview, “The United States of America rejects the idea of ​​Iraq becoming one of the powerful countries in the region, in light of the wealth and position it possesses,” noting that “fueling soft problems such as electricity, the dollar, and disrupting the security situation is an open-ended American plan.”

He continued, “All the plans that America is pursuing are to protect the Zionist entity, especially after Iraq’s position in support of the Palestinian cause,” pointing out that “if the plans of the Ministry of Electricity are implemented on the ground, the electricity crisis will not last more than three years only.”

He added that “the lack of a real will from some internal parties to resolve the electricity supply crisis has contributed to the continued suffering of citizens for two decades until now,” adding that “the electrical power supply crisis is due to the international will that is trying to continue the electricity crisis in Iraq.”

A member of the State of Law coalition, Ibrahim Al-Sakini, had confirmed in an interview that “there is a clear shortage in equipment given the country’s need for 40,000 megawatts,” pointing out that “the citizen is not concerned with the method or obstacles facing the government in this file.” LINK

Provoking Points to Ponder on Decisions 

 No man who has not sat in the assemblies of men can know the light, odd and uncertain ways in which decisions are often arrived at.  - Sir Arthur Helps

No trumpets sound when the important decisions of our life are made. Destiny is made known silently. - Agnes de Mille

A man must be able to cut a knot, for everything cannot be untied.  - Henri Frederic Amiel

Once to every man and nation comes the moment to decide ... And the choice goes by forever t'wixt that darkness and that light.  - James Russell Lowell

Necessity is not an established fact, but an interpretation.  - Friedrich Nietzsche

http://famousquotesandauthors.com/quotes_by_topic.html                                   

http://famousquotesandauthors.com/topics/decisions_quotes.html 

"Tidbits From TNT" Friday Morning 3-15-2024

TNT:

Tishwash:  Iraqi lawmakers to discuss monetary policies, banking system with CBI

 Iraq's Parliamentary Finance Committee met with the Central Bank of Iraq on Thursday to discuss monetary policy, the banking system, and ways to increase the value of the Iraqi dinar.

The meeting was held at the headquarters of the Finance Committee and was chaired by Atwan al-Atwani. Central Bank Governor Ali al-Alaq also attended the meeting.

In his opening remarks, al-Atwani laid emphasis on monitoring the economic and monetary policies in the country and "finding appropriate solutions to the obstacles facing the work of the Central Bank."

The Finance Committee also expressed hope for coordination with the Central Bank to increase the value of the Iraqi dinar, control the market in order to alleviate the burden on citizens, and address the deficit.

For his part, the Governor of the Central Bank said that establishing basic rules is vital for monitoring the transfer process and analyzing transaction movements.

The statement added that the committee discussed with the Governor of the Central Bank the international standards, the future plans to improve the reality of banks, the possibility of expanding relations with international banks, drawing the structure of banks, and moving towards the electronic payment process, in addition to the possibility of amending the Central Bank Law.  link

CandyKisses:  Finance” discusses with the Central Bank ways to increase the value of the Iraqi dinar

Shafaq News / The Parliamentary Finance Committee discussed, on Thursday, with the Central Bank of Iraq, the monetary policy and banking system in the country and ways to increase the value of the Iraqi dinar.

This came in a meeting held by the committee headed by Atwan Al-Atwani and the presence of its members with the Governor of the Central Bank, Ali Al-Alaq, according to a statement issued by the parliamentary finance.

At the beginning of the hosting held at the headquarters of the committee, Al-Atwani stressed the importance of following up the economic file and monetary policy, based on the regulatory aspect, and finding appropriate solutions to the obstacles facing the work of the Central Bank.

The Finance Committee also expressed its aspiration to coordinate with the Central Bank in order to increase the value of the Iraqi dinar, control the market in order to alleviate citizens, and address the deficit.

For his part, the Governor of the Central Bank reviewed the economic and monetary aspect, pointing to the establishment of basic rules in order to monitor the remittance process and analyze monetary operations.

The statement added that the committee discussed with the Governor of the Central Bank the adopted international standards, future plans to improve the reality of banks, the possibility of expanding relations with international banks, drawing the structure of banks, and moving towards the electronic payment process, in addition to the possibility of amending the law of the Central Bank.

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

Tishwash:  An economist identifies the "ideal solution" to reduce the dollar difference between the official and the parallel

The economic expert, Bassem Jamil Antoine, identified today, Thursday, the “ideal solution” to reduce the dollar difference between the official and parallel ones.

Antoine told Al-Furat News: “There is clear stability in the dollar exchange rates, and the difference between the parallel and official rates does not decrease easily.”

He stressed "the need to establish quick, firm and convincing measures."
Antoine stated, "Reviving the spirit of support between merchants and citizens and providing goods in the country from the public sector is the ideal solution to reduce the difference between the official and parallel prices."  link'

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

CandyKisses:  Sudanese meets with the Minister of Finance and the Governor of the Central Bank and takes 3 decisions  

March 14 22:30   Information / Baghdad

On Thursday, Prime Minister Muhammad Shiaa Al-Sudani met with the Minister of Finance and the Governor of the Central Bank and subsequently took 3 decisions related to loans and debts.

The Prime Minister's Media Office stated in a statement received by Al-Maalouma, that "Prime Minister Muhammad Shia Al-Sudani chaired a meeting that included the Minister of Finance, the Governor of the Central Bank of Iraq, and a number of relevant advisors, in the presence of the Director General of the Trade Bank of Iraq." 

He added, "The meeting discussed a number of issues related to the government banking sector, related to government debts and non-performing private sector loans, and took a number of decisions regarding them, which were the following:

1-The Ministry of Finance begins paying government debts to the Trade Bank of Iraq.

2- Preparing a plan to be presented to the Council of Ministers regarding the repayment of troubled loans owed by the private sector to government banks, including the Trade Bank of Iraq.

3- Forming a joint committee to study expired credits; In order to return its funds to the public treasury. 

Mot:  Found the Perfect RV Clock I Did!!!! ..............

Mot:  Guess What!!!!.. Even Though I'm Getting over 6 inches of Snow Tonight - They Say ~~~~

Goldilocks' Comments and Global Economic News Thursday Evening 3-14-24

Goldilocks' Comments and Global Economic News Thursday Evening 3-14-24

Good Evening Dinar Recaps,

The Securities and Exchange Board of the India is expanding their framework of Qualified Stock Brokers. This is expected to protect the interest of investors and expand compliance for Stock Brokers engaged in asset exchanges such is foreign currency and more.

These registration requirements for compliance and security are expected within 180 days of March the 8th, 2024. Global Index Providers do not fall under this category. You will be glad to know that many of the foreign currency trades fall under this category.

This does not exclude this sector of the market from expansion or security compliance issues. It will be going through these economic reforms as well. We are just simply not going to have to wait for these changes to be complete to move forward.

In other words, India is going through a re-indexing process inside their stock market that will enable them to expand their Foreign Currency Exchange Market through the Unified Payments Interface (UPI). The UPI will allow India to focus on their ability to connect to Global Banks near and far through payment systems inside the QFS.

This will allow India to expand their ability to trade with local currencies around the world, instead of, just a few that fall into the category of a World Reserve Asset and higher values in a few other currencies.    Affairs Cloud

© Goldilocks

~~~~~~~~~~

Janet Yellen, United States Secretary of the Treasury is now on record as finally admitting that Higher Inflation and Higher Yields Are Here to Stay.

“It seems unlikely that yields are going to go back to being as low as they were before the pandemic.” Yellen.

Remember, this refers to the old Financial System. Under a Digital Gold Standard Financial System, we will witness gold deflating an inflated economy.

Our tokenized assets are currently being interfaced into the new QFS allowing us to move into a decentralized system incorporating new banking protocols along with trading protocols that will transform our markets into real values.

It will change monetary values in every sector of the market including Forex. This is why many have called it a Global Currency Reset, but it includes every sector of the market and banking system as well. Wolf Street

© Goldilocks

~~~~~~~~~~

War Bonds are here...
Bond Investors Are Lining Up to Fund the War Against Putin. |  Finance Yahoo

~~~~~~~~~~

RBI, Indonesia's central bank, signed local currency trade agreements. | IBEF

~~~~~~~~~~

Digital Financial Asset Announcement:

Russian President Vladimir Putin signed a law allowing firms in the country to use digital financial assets including the digital ruble in international payments on March 11.

Moscow has fast-tracked the bill in an apparent bid to help domestic companies use digital tokens and CBDCs to evade sanctions.   Crypto News

~~~~~~~~~~

Hong Kong Banking Announcement:

Hong Kong begins phase 2 of CBDC pilot
Hong Kong’s central bank will accept proposals on potential use cases of a digital Hong Kong dollar from industry participants until May 17.

The Hong Kong Monetary Authority (HKMA) has launched phase two of its e-Hong Kong dollar (e-HKD) pilot program and urged industry participants to apply and submit potential use cases for its central bank digital currency (CBDC).    Coin Telegraph

~~~~~~~~~~

$27 Trillion Expected to Flow into XRP, $500 Possible? | YouTube

~~~~~~~~~~

#Gold is stealing the spotlight this week, but where does #silver stand? |  Youtube

~~~~~~~~~~

"Copper rally not over yet, Citi bullish on tighter supply outlook" | Investing
~~~~~~~~~~

I believe the cryptocurrency for copper is XDC. Not a suggestion, just an observation. 😉

~~~~~~~~~~

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Iraq Economic News and Points to Ponder Thursday Evening 3-14-24

Iraq Economic News and Points to Ponder Thursday Evening 3-14-24

Tlm724 Administrator Bondlady’s Corner

Parliamentary Finance Committee: We Look Forward To Coordinating With The Central Bank To Increase The Value Of The Dinar And Control The Market

Thursday 14, March 2024  Economical Number of readings: 382  Laghdad / NINA / The Parliamentary Finance Committee expressed its aspiration to coordinate with the Central Bank to increase the value of the dinar and control the market.

She told the House of Representatives Media Department in a statement that, “The Finance Committee met under the chairmanship of Atwan Al-Atwani, in the presence of its members, with the Governor of the Central Bank, Ali Al-Alaq, to ​​discuss monetary policy, the banking system in the country, and ways to increase the value of the Iraqi dinar.”

At the beginning of the hosting, which was held at the committee’s headquarters, the Chairman of the Committee stressed “the importance of following up on the economic file and monetary policy, based on the supervisory side, and finding appropriate solutions to the obstacles facing the work of the Central Bank.”

The Finance Committee expressed its "aspiration to coordinate with the Central Bank in order to increase the value of the Iraqi dinar and control the market in order to alleviate the burdens of citizens and address the deficit."

For his part, the Governor of the Central Bank reviewed, according to the statement, "the economic and monetary aspect, pointing out" the establishment of basic rules in order to monitor the remittance process and analyze monetary operations, praising "the role played by the Finance Committee in following up the country's financial and economic movement."

The committee discussed with the Governor of the Central Bank the approved international standards, future plans to improve the status of banks, the possibility of expanding relations with international banks, drawing up the structure of banks, and moving towards the electronic payment process, in addition to the possibility of amending the Central Bank law./End 5 https://ninanews.com/Website/News/Details?key=1112920

An Economist Identifies The "Ideal Solution" To Reduce The Dollar Difference Between The Official And The Parallel

Time: 03/14/2024 19:44:54 Read: 715 times  {Economic: Al-Furat News} The economic expert, Bassem Jamil Antoine, identified today, Thursday, the “ideal solution” to reduce the dollar difference between the official and parallel ones.

Antoine told {Al-Furat News} that: “There is clear stability in the dollar exchange rates, and the difference between the parallel and official rates does not decrease easily.”

He stressed "the need to establish quick, firm and convincing measures."

Antoine stated, "Reviving the spirit of support between merchants and citizens and providing goods in the country from the public sector is the ideal solution to reduce the difference between the official and parallel prices."  LINK

Central Bank Governor: Establishing Basic Rules To Monitor The Remittance Process

Time: 03/14/2024 14:01:08 Read: 2,327 times  {Economic: Al-Furat News} The Governor of the Central Bank, Ali Al-Alaq, pointed out today, Thursday, the establishment of basic rules in order to monitor the remittance process and analyze monetary operations.

The Media Department of the House of Representatives stated in a statement received by {Al-Furat News}, “The Finance Committee, headed by Atwan Al-Atwani and in the presence of its members, met with the Governor of the Central Bank, Ali Al-Alaq, to ​​discuss monetary policy, the banking system in the country, and ways to increase the value of the Iraqi dinar.”

Al-Atwani stressed, “at the beginning of the hosting session, which was held at the committee’s headquarters, the importance of following up on the economic file and monetary policy, based on the supervisory side, and finding appropriate solutions to the obstacles facing the work of the Central Bank.”

The Finance Committee also expressed its aspiration to coordinate with the Central Bank in order to increase the value of the Iraqi dinar, control the market in order to alleviate the burdens of citizens, and address the deficit.

For his part, the Governor of the Central Bank reviewed the economic and monetary aspects, pointing out the establishment of basic rules in order to monitor the remittance process and analyze monetary operations.

Al-Alaq praised "the role played by the Finance Committee in following up on the country's financial and economic movement."

The committee discussed with the Governor of the Central Bank the approved international standards, future plans to improve the status of banks, the possibility of expanding relations with international banks, drawing up the structure of banks, and moving towards the electronic payment process, in addition to the possibility of amending the Central Bank law.   LINK

The Central Bank Announces An Understanding With The US Treasury To Reconsider The Sanctions Imposed On Iraqi Banks

Economy | 07:38 - 03/14/2024 Mawazine News - Baghdad,  Governor of the Central Bank, Ali Al-Alaq, announced an understanding with the US Treasury to reconsider the sanctions imposed on Iraqi banks.

Al-Alaq said in a statement received by Mawazine News, “The instability of the dollar price is due to the presence of illegal trade carried out by small traders and some speculators.”

He pointed out that "we are coordinating with the relevant authorities to implement the plan to regulate foreign trade and continue to communicate with global correspondent banks."

https://www.mawazin.net/Details.aspx?jimare=243880

Romanowski: My Country Is Committed To Iraq's Security, Stability And Sovereignty

The US Ambassador to Baghdad, Alina Romanowski, expressed her country's commitment to Iraq's security, stability and sovereignty, indicating that the US administration stood shoulder to shoulder with Iraqi partners to liberate Iraq from the scourge of ISIS.

Romanowski said in an opinion article: We want the Iraqi security forces to have the capabilities necessary to confront future threats. For this reason, since 2012, the US Congress has allocated more than $3.5 billion to build the capabilities of the Iraqi security forces.

Romanowski added, the United States also provides Iraq with vital sustained support, world-class equipment such as F-16 fighter jets and M-1 Abrams battle tanks, and professional training.

https://www.radionawa.com/all-detail.aspx?jimare=37638

Al-Alaq Reveals Meetings With The US Treasury To Reconsider Sanctions On Iraqi Banks

Economy News – Baghdad  On Thursday, Central Bank Governor Ali Al-Alaq revealed meetings with the US Treasury to reconsider the sanctions on Iraqi banks, while he discussed several files with the Parliamentary Finance Committee, most notably, addressing the gap in selling the dollar between the official and parallel rates.

A statement by the media office of Representative Atwan Al-Atwani, seen by Al-Iqtisad News, stated that “the Finance Committee, headed by Atwan Al-Atwani and in the presence of its members, hosted the Governor of the Central Bank, Ali Al-Alaq, to ​​discuss a number of important files, most notably the procedures for addressing the large gap in selling the dollar between the official price and the parallel market.” As well as foreign trade transfers via the platform.

The meeting reviewed - according to the statement - “the file of US Treasury sanctions on local banks and the extent of their impact on monetary and financial policy and banking work in the country, and the measures taken by the Central Bank in this regard.”

The statement added, "They discussed the approved international standards and future plans to improve the reality of the banking system, the possibility of expanding relations with international banks, drawing up the structure of banks, and moving towards the electronic payment process, in addition to the possibility of amending the Central Bank law."

Al-Atwani stressed - according to the statement - “the importance of following up on the economic file, monetary policy, the external and internal remittance system, and finding appropriate solutions to the obstacles facing the work of the Central Bank,” indicating that “the government is making a great effort to maintain the stability of the local market during the blessed month of Ramadan, especially in... Regarding the selling prices of food and other necessary commodities.”

He continued, “We look forward to continued coordination and cooperation with the Central Bank in order to increase the value of the Iraqi dinar and control the local market in order to alleviate the burden of the citizen.”

For his part, the Governor of the Central Bank emphasized “Establishing basic rules in order to monitor the process of external and internal transfers, attributing the instability of the exchange rate to the existence of illegal trade carried out by small merchants and some speculators, which is financed by withdrawing the cash dollar from the market.”

Al-Alaq stressed, “The external sanctions imposed on a large number From our local banks, efforts and plans to open relationships and lines of communication with accredited international correspondent banks have been hindered,” explaining, “The process of printing the local currency is carried out in accordance with the required financial cover and in a way that balances the foreign and local currency and prevents any financial inflation.”

Al-Alaq stated, “We are currently coordinating with the relevant authorities regarding the implementation of the plan to regulate foreign trade, and we also have ongoing meetings with the US Treasury, and it was agreed to reconsider the sanctions imposed on Iraqi banks, and that such decisions should not be issued in the future except after discussing and informing the Central Bank of Iraq.” Being responsible for monitoring its activity.” Views 52 03/14/2024 - https://economy-news.net/content.php?id=41497

To read more current and reliable Iraqi news please visit BondLady’s  Corner: https://www.bondladyscorner.com/  

Provoking Points to Ponder on Decisions 

There is no more miserable human being than one in whom nothing is habitual but indecision.  - William James

In not making the decision, you've made one. Not doing something is the same as doing it. - Ivan Bloch

There is a time when we must firmly choose the course we will follow, or the relentless drift of events will make the decision for us.  - Herbert B. Prochnow

You can only predict things after they've happened.  - Eugene Ionesco

It is the mark of a good action that it appears inevitable, in retrospect.  - Robert Louis Stevenson

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http://famousquotesandauthors.com/topics/decisions_quotes.html  

Iraq Economic News and Points to Ponder Thursday Afternoon 3-14-24

Iraq Economic News and Points to Ponder Thursday Afternoon 3-14-24

Tlm724 Administrator Bondlady’s Corner

An Independent Representative Stresses The Need To Legislate The Oil And Gas Law

 Information/Baghdad...  Member of the Parliamentary Oil and Gas Committee, Independent Representative Nazem Al-Shibli, stressed today, Wednesday, the necessity of passing the oil and gas law. Al-Shibli told Al-Maalouma,

 “The oil and gas law is the only solution to solve the outstanding problems between the federal government and the Kurdistan region, and its legislation will resolve all disputes between the two parties.”

 He added, "The House of Representatives has completed all sections of the law,  but the government has amendments and comments on some paragraphs of the prepared law."  He pointed out  “the difficulty of resolving the problems with the region without the oil and gas law,” noting that  “11 amendments were made to the law.”

Since the first session of the Iraqi Council of Representatives, in 2005, the draft oil and gas law has remained locked away, as disagreements prevent its approval in its final form.

 After 18 years, he announced the formation of a committee to develop “a draft of the oil and gas law and present it to the government and the House of Representatives, according to what MP Firas Al-Muslimaoui revealed.  The representative stressed that “there is a real will in the House of Representatives to legislate the law.

Iraq exports an average of 3.3 million barrels of crude oil per day, and black gold constitutes more than 90 percent of the Iraqi treasury’s resources.”   

https://almaalomah.me/news/58664/economy/نائب-مستقل-يشدد-على-ضرورة-تشريع-قانون-النفط-والغاز   

The oil and gas law collides with disputes between the central and regional governments

Information/Report:  There is still disagreement between Baghdad and Erbil over the oil file, which has remained an unresolved issue for more than two decades.

 If the oil and gas law is passed, it will   spark investments in the energy sector and   enhance revenues for the public treasury.

A stable national road map for the oil sector will also be developed,  attracting investments in oil and gas projects and  establishing a unified oil policy, allowing Iraq to effectively benefit from its hydrocarbon potential, including in the Kurdistan region. 

Previous parliaments had passed laws that address specific aspects of the oil industry, including the      Crude Oil Refining Investment Law No. (64) of 2007, the   Anti-Smuggling of Oil and Its Derivatives Law No. (41) of 2008, and the  National Oil Company Law No. (4) for the year 2018.

Those who follow attempts to pass the law will find that the real and main reason for obstructing the passage of the law is related to political differences between Baghdad and Erbil.

 A member of the Oil and Gas Committee, Bassem Ngemesh, confirmed this disagreement, and believed that these disagreements stand in the way of any attempt to pass the law under the dome of Parliament and obstruct the legislation of the strategic law. In an interview with Al-Maalouma, Naghimish said,

 “The law awaits understandings between Baghdad and Erbil to legislate the oil and gas law under the dome of the House of Representatives,” noting that  “passing the oil and gas law in the House of Representatives needs political consensus, which is what hinders voting on it until the moment.”

He explained that  "the law was transferred many times during previous parliamentary sessions and was not included in the current parliamentary laws and legislation."  He pointed out, "The oil and gas law is still a matter of controversy and disagreement among political parties."

 For his part, a member of the Parliamentary Oil and Gas Committee, Representative Adnan Al-Jabri, confirmed that the issue of approving the oil and gas law is still a prisoner of the disputes and the Kurdistan region’s oil export crisis. Al-Jabri told Al-Maalouma,

  “The law represents the management of oil wealth in general for the country and not just for the Kurdistan region, and it will include adding articles that serve the areas near the oil fields.”

 The Kurdish parties continue to obstruct the government in approving the oil and gas law, which a vote on within the corridors of Parliament has become a must, in order to end the violations and thefts carried out by the Kurdistan Regional Government in the oil smuggling file.

 In addition, Firas Al-Muslimaoui, representative of the State of Law parliamentary bloc, revealed the laws planned to be legislated in Parliament in the coming period. Al-Muslimaoui said,

  The priority of the Presidency of Parliament and the House of Representatives is to  legislate the laws sent by the government, and in the  second stage come the proposals of laws and committees.” He added, "Among the important laws that Parliament intends to legislate after its draft arrives is the oil and gas law," stressing that  "there is a parliamentary and governmental will to legislate it in a way that preserves justice in the distribution of wealth."

 The Oil and Gas Law in Iraq, which has been awaiting legislation in Parliament since 2005, stipulates that responsibility for managing the country’s oil fields must be entrusted to a national oil company, and  supervised by a federal council specialized in this subject. Ended / 25 AD  

https://almaalomah.me/news/58684/economy/قانون-النفط-والغاز-يصطدم-بالخلافات-بين-حكومتي-المركز-والاقلي   

Experts Call For Investing Surplus Financial Revenues In Sustainable Development Projects

 Economical 03/14/2024   Baghdad: Hussein Thaghb Al-Tamimi  Specialists and economic experts unanimously agreed on the importance of investments witnessed in the oil and gas sector,

provided that they achieve integration with other sectors that need the surplus funds that come into the country as a result of exporting crude oil to global markets, where

the surplus financial revenues can be used in projects. Economic development that achieves sustainable development for Iraq and seriously multiplies its financial resources.

Economic expert Salwan Al-Nouri confirmed that investment in the oil and gas sector represents an important step on the path to improving economic performance, as it provides additional financial revenue that can be used in development projects in all regions of Iraq, where natural resources are available, and we can also create successful local industries from it. The surplus financial revenues received by the country. 

Al-Nouri pointed out thatany new investment represents an  expansion in production, an  increase in financial revenue, and a   decrease in foreign imports.

 Here, we can have bilateral partnerships with countries around the world and regional countries to create advanced projects that have a positive impact on the national economy, pointing to the possibility of cooperation with countries from which we import.

 Among them, we work investment partnerships for new projects inside Iraq, and thus the benefit is shared and long-term.  He pointed out that "the international reality and the events it is witnessing have a clear impact on the global economy, requiring us to build ideal relations with most countries importing crude oil, and from here we must begin building our relations with the oil markets, especially since Iraq is looking forward to expanding its production base." And exploration.  

Economic affairs expert Aqeel Karam Al Hamad stressed that the expansion of oil and gas investment is extremely important, and we must have a clear vision to benefit from global experiences in this field, pointing to the necessity of having transformational industries to benefit from the oil and gas wealth available in the country.

Al Hamad pointed out that the expansion of oil and gas investment can activate other sectors with a sustainable development impact,

which requires us to   take a serious approach to developing the oil and gas industries, and     investing the financial surplus in achieving sustainable development for the country that Al Bari has bestowed many blessings that can be a center. He said that the country is in dire need of expansion in economic projects, and here local and international efforts can be invested to achieve progress, and

there is no harm in seeking assistance from international planning centers that draw the features of the sustainable development that the country seeks.

He explained that  "Iraq is one of the oil countries that has its weight in the international oil market, which enhances its position among countries that wish to strengthen their relations with Iraq.

The Ministry of Oil had announced an expected measure within next year's plan 2024, which will contribute to resolving the gas crisis and reducing its imports, while It confirmed the existence of government interest and direction to increase gas production.

It is noteworthy that the advisor to the Ministry of Oil, Abdul Baqi Khalaf, said that “the government and the Ministry of Oil are interested in gas projects due to their

     importance in the energy industry in Iraq, and      reducing emissions at the same time,” pointing out that “according to the ministry’s plans drawn up next year 2024, no less than About 700 million cubic feet of gas in the projects of the second phase of Basra, NGL, the Halfaya 300 project, and the Nasiriyah project.  Khalaf explained,

“This quantity is equivalent to more than half of the gas currently released,” stressing that  “this will contribute to solving the gas crisis, and  it constitutes more than half of Iraq’s gas imports.”

He pointed out that the sixth round of gas projects and the government’s interest in the Mansouriya and Okaz fields reflect the state’s interest in increasing our gas production to reduce the demand gap for electricity that currently exists in the country, and thus things are moving towards increasing our gas capacity.    https://alsabaah.iq/93481-.html

To read more current and reliable Iraqi news please visit BondLady’s  Corner: https://www.bondladyscorner.com/  

Provoking Points to Ponder on Decisions 

Necessity relieves us from the embarrassment of choice.  - Vauvenargues

When you have to make a choice and don't make it, that is in itself a choice.  - William James

A man without decision can never be said to belong to himself; he is as a wave of the sea, or a feather in the air which every breeze blows about.  - John Foster

Nothing is so exhausting as indecision, and nothing is so futile.  - Bertrand Russell

Not to decide is to decide.  - Harvey Cox

Decision is a sharp knife that cuts clean and straight; indecision, a dull one that hacks and tears and leaves ragged edges behind it.  - Gordon Graham

http://famousquotesandauthors.com/quotes_by_topic.html                                   

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