MilitiaMan: Iraqi Dinar - IQD Update - Iraqs Accession Law - Integration Regionally - USA & Iraq Meeting - Money

Iraqi Dinar - IQD Update - Iraqs Accession Law - Integration Regionally - USA & Iraq Meeting - Money

MilitiaMan and Crew:  3-22-2024

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=booyAAESzF0

Iraq Economic News and Points to Ponder Friday Afternoon 3-22-24

Iraq Economic News and Points to Ponder Friday Afternoon 3-22-24

Tlm724 Administrator Bondlady’s Corner

Adviser To The Prime Minister: The Decline Of The Dollar Is An Indicator Of The Strength Of The Dinar And A Tangible Success Of Economic Policy

    Time: 03/21/2024 Read: 4,381 times  {Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed the strength of the dinar against the dinar after a relative decline in the exchange rate. Saleh told {Al-Furat News} agency,

  “We indicate the strength of the Iraqi dinar, expressed in the decline in the parallel market rates of exchange in favor of the official exchange rate, a tangible success in the cohesion of the country’s economic policy in its three aspects:   monetary,  financial, and  commercial, in providing a coherent climate of stability in the general level of prices.”

 And containing seasonal price fluctuations for high-demand items, specifically providing basic food commodities that have low price elasticities of demand because they are necessary commodities associated with consumption and daily living.”

 He noted "the importance and speed of customs procedures, which were represented by (reducing customs tariffs and diversifying imports without quantitative limits for necessary goods) as part of the performance of the financial policy in  supporting price stability and  ensuring the supply of food and essential goods and production supplies  at the official exchange rate and in accordance with the requirements of the national economy."

The Parliamentary Finance Committee had expected the dollar price to continue to decline as the results of the measures taken by the Central Bank of Iraq to limit the rise in the foreign currency began to appear.

The dollar exchange rate a few days ago was about 1,500 or 1,490 thousand dinars to the dollar.  

https://alforatnews.iq/news/مستشار-لرئيس-الوزراء-انخفاض-الدولار-مؤشر-على-قوة-الدينار-ونجاح-ملموس-للسياسة-الاقتصادية

Saleh Reveals The Reason For The Stability Of The Dollar In The Parallel Market And A Historical Reserve For Iraq

 Time: 03/22/2024 13:48:05 Read: 3,848 times {Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, attributed the relative stability in the dollar exchange rate in the parallel market to stability in commercial bank financing. Saleh told {Al-Furat News} agency,

"The stability of the dollar exchange rates in the parallel market is due to the stability in bank financing of foreign trade for the private sector, which has begun to rely on stable official exchange rates on a large scale and is more flexible."

He noted that "the demand for foreign currency for the purposes of financing the country's foreign trade, on the part of the private sector, is today supported by large foreign currency reserves, which are the highest in the modern economic history of Iraq, which today touch approximately 111 billion dollars."

Saleh stressed that  “those high foreign currency reserves indicate the country’s annual trade efficiency of more than 16 months of import at least  compared to the global standard for the trade efficiency of foreign reserves, which is set at only about three months.”  

https://alforatnews.iq/news/صالح-يكشف-سبب-استقرار-الدولار-بالسوق-الموازي-واحتياطي-تاريخي-للعراق    

Parliament Finance Expects Exchange Rates To Continue In Iraqi Markets

 Money  and business  Economy News – Baghdad  Today, Thursday (March 21, 2024), the Parliamentary Finance Committee expected the continued gradual decline of the dollar exchange rate in the parallel market in the coming days.

Committee member Mustafa Al-Karaawi said, in an interview followed by Al-Eqtisad News, that “the decline in the market at the dollar exchange rate is the result of the decisions and measures taken months ago to confront the dollar crisis.

We have said from the beginning that resolving the crisis requires time, until the results of those emerge.” Decisions and actions.

Al-Karawi stated,   “The coming days will witness a continuous and gradual decline in the dollar exchange rate in the parallel market, and

this will push towards complete official control over the dollar, and will push prices in the market to be reduced, after they rose due to the rise of the dollar in the parallel market.”

It is noteworthy that the parallel market for the dollar has been witnessing for days in Baghdad and the rest of the governorates a noticeable decline in the exchange rate, as it recorded at 1,490 dinars after touching 1,700 dinars in the past months.

The Central Bank of Iraq sells the dollar at the official price of 1,320 dinars.   

Views 138     Added 03/21/2024 - https://economy-news.net/content.php?id=41702    

The White House: Biden Will Receive Al-Sudani On April 15

    Time: 03/22/2024 20:08:53 Read: 1,118 times  {Politics: Al-Furat News} The White House announced the date of Prime Minister Muhammad Shiaa Al-Sudani’s visit to Washington and his meeting with US President Joe Biden.

White House Press Secretary Karine Jean-Pierre said about Al-Sudani’s visit in a statement, a copy of which {Al-Furat News} received,

“On April 15, President Joe Biden will welcome Iraqi Prime Minister Muhammad Shiaa Al-Sudani to the White House to coordinate on common priorities and strengthen the strong bilateral partnership between the United States.” "And Iraq.

The leaders will reaffirm their commitment to the Strategic Framework Agreement and work to deepen their shared vision of a secure, sovereign, and prosperous Iraq fully integrated into the broader region." He added,

"President Biden and the Sudanese Prime Minister will consult on a range of issues during the visit, including our shared commitment to the enduring defeat of ISIS and the evolution of the military mission nearly ten years after the formation of the successful global coalition to defeat ISIS."

Biden and Al-Sudani, according to the statement, “will also discuss ongoing Iraqi financial reforms to promote economic development and progress toward Iraq’s energy independence and modernization.”  

 https://alforatnews.iq/news/البيت-الأبيض-بايدن-سيستقبل-السوداني-في-15-نيسان

Industry: The Cement Produced In Iraq Is The Best In The Region

Economy News – Baghdad   On Thursday, the Ministry of Industry and Minerals counted the number of factories that have stopped working, and while  it revealed a directive from Minister Khaled Battal Al-Najm to involve the private sector in reactivating them,  it indicated that most cement factories are operated by the gas system instead of black oil, confirming that the current production is the best in the region.

The Ministry’s spokeswoman, Doha Al-Jubouri, said in a statement reported by the official news agency, and seen by Al-Iqtisad News, that “the number of factories that have stopped working has reached 104, and the Minister of Industry, Khaled Battal Al-Najm, worked to form a committee to study their rehabilitation.”

  She added, "Some of these suspended laboratories suffer from age and delayed technology, while  others have expired and there is no point in rehabilitating them." She indicated,  "The Ministry of Industry worked to rehabilitate some of the stopped factories, and

they were equipped with new production lines, including the Babel Tire Factory, which produces them under the name (Babylon Tires) for saloon cars, light-duty vehicles, and agricultural tires.

The Al-Qaim Cement Factory was also rehabilitated." She pointed out,   “The Minister of Industry also directed that the factories that there is no point in rehabilitating them should enter into partnership with the private sector, whether it is a local, Arab, or foreign private sector, on the condition of  financial suitability,  sufficient experience, and  specialization, and be  offered for investment through conferences held by the ministry.”".

She went on to say:   “The Ministry of Industry will hold a mining conference during the next month of May, and will work to put forward the stalled factories that there is no point in rehabilitating for investment, with the aim of establishing new factories with modern production lines and advanced technology.”

Regarding its cement products, it confirmed that “the Ministry produces the best types of cement in the region and is certified by the Central Agency for Standardization and Quality Control.”

She explained,   “Most cement plants have switched from the black oil system to the gas system in order to preserve the environment, and the Minister of Industry directed that the rest of the cement plants switch to this approach.” Regarding the rest of the products, she indicated that

 “Diyala Company produces the best types of electrical transformers that are produced for the benefit of the Ministry of Electricity, and the Ur General Company in Dhi Qar Governorate produces electrical cables,” stressing that “the Ministry of Industry has excellent products for the benefit of the private sector and state ministries.”   Added 03/21/2024 - https://economy-news.net/content.php?id=41725     

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

The U.S. Senate repealed Iraq war authorizations a year ago. In the House, they’re frozen.

TNT:

Tishwash:  The U.S. Senate repealed Iraq war authorizations a year ago. In the House, they’re frozen.

By: Jennifer Shutt - March 21, 2024

 U.S. House Republican leaders have spent the last year holding up a broadly bipartisan, Senate-approved bill that would repeal the authorizations for use of military force from the 1990s and early 2000s that were intended for the wars in Iraq.

The Senate approved the legislation following a 66-30 vote last March, but it has remained stalled in the House ever since, despite broad support from conservative Republicans, centrist lawmakers and left-leaning Democrats in that chamber.

Authorizations for Use of Military Force, while not formal declarations of war, have become the more common way for Congress to authorize when and where the president as commander-in-chief can send U.S. troops into conflict.

Leaving an AUMF on the books, especially decades after lawmakers originally approved it, could provide an avenue for the president to send troops into war or engage in attacks that haven’t been debated and approved by lawmakers on behalf of the public, analysts and lawmakers warn.

In this case, however, emerging wars and armed conflicts in the Middle East have changed the tone of the debate about removing two Iraq AUMFs from the ledger.

Oklahoma Republican Rep. Tom Cole, one of the bill’s original co-sponsors, said in a brief interview with States Newsroom in mid-March there “hasn’t been a lot of oxygen” for the repeal bill to move through the House.

Cole, chairman of the Rules Committee, said he “hopes” leadership will see the bill warrants an up-or-down floor vote later this year.

“We ought to be looking for some things we can agree on on both sides and this is certainly one of them,” Cole said. “I think it’d get a good vote. So I’ll probably bring it up once we get through this period of time with the speaker and majority leader, and see if they’ve got any interest in it.”

The House bill to repeal the Iraq war AUMFs, which is a companion to the Senate-passed bill, has 71 co-sponsors that span the political spectrum and represent 30 states, showing the legislation could have the support needed to pass on an up-or-down vote.

Part of the slowdown, Cole said, is that the House Foreign Affairs Committee wants to take a different approach than what’s in the Senate-passed bill.

‘Repeal and replace’

House Foreign Affairs Chairman Michael McCaul, a Texas Republican, said during a hearing in September that his preference would be for Congress “to repeal and replace all the AUMFs with a new, more limited authorization scope to the terror threats that we face today.”

That process would include repealing the AUMF that Congress approved following the 9/11 terrorist attacks that has given several presidents broad authority to conduct military actions against terrorist organizations around the globe.

An entirely new AUMF would not provide any authority for U.S. troops to occupy a country or for American taxpayers to reconstruct it, and it would include a sunset date “so that Congress is required to review and reauthorize more regularly,” McCaul said during that hearing.

“Doing this is hard and that’s why we haven’t done it in 22 years,” McCaul said at the time. “To succeed, a new AUMF requires bipartisan, bicameral and presidential support, and it will require us to answer tough questions, such as which terrorist organizations should be covered.”

New York Democratic Rep. Gregory Meeks, ranking member on the committee, said during the hearing he believed both parties could agree that “we need to have this debate and we need Congress to reassert its proper authority over the power to declare war under the Constitution.”

“The time to pass repeal and replace of the 2001 AUMF legislation is now long overdue,” Meeks added. “The American people elected us to make tough decisions, not duck hard questions by ceding our constitutional authority over the executive branch.”

The House committee, however, hasn’t released its own bill to address the AUMFs in the six months since the hearing.

That leaves the Senate-approved bill and the identical House version as the most likely option to be enacted during an election year.

Hostilities in Middle East

Virginia Democratic Sen. Tim Kaine, co-sponsor of the Senate version of the bill, said during a brief interview with State Newsroom that conflicts throughout the Middle East have “complicated” discussions about moving the measure through the House.

“My colleagues still want to do it, but I frankly think the increased pace of hostilities in the Middle East has complicated it — even though there’s nothing about Iraq that is related to these,” Kaine said.

The change in speaker of the House has also altered the original plan for debate and a vote in that chamber.

“The speaker had made a commitment that he would bring the bill up for a vote. They sacked the speaker,” Kaine said, referring to former Speaker Kevin McCarthy of California. “So it’s kind of back to square one with the new speaker.”

The current slate of House GOP leaders has so far shied away from moving the issue forward, possibly because the current team all voted against a similar bill that was brought to the floor in June 2021.

Speaker Mike Johnson of Louisiana, Majority Leader Steve Scalise of Louisiana, Republican Whip Tom Emmer of Minnesota and Conference Chair Elise Stefanik of New York all voted against a bill to repeal the 2002 Iraq war authorization for use of military force, or AUMF,  that passed that chamber on a 268-161 vote.

Indiana’s Young says effort should be made

Indiana Republican Sen. Todd Young, co-sponsor of the stalled Senate legislation, said during an interview with States Newsroom it would be “challenging” to move the bill forward in the House now, but said he believes lawmakers “should absolutely make an effort to get a vote.”

Young said conflicts throughout that region have changed the dynamics around approving the AUMF repeal bill, though that should not lead lawmakers to step back from having complicated conversations about when and how the U.S. military uses force.

“Here we are with members of Congress, who are notoriously risk-averse, attempting to deal with a multi-front crisis — Ukraine, Indo-Pacific, Middle East, southern border and so forth,” Young said.

“And there is an incentive to generously read long-standing, but outdated legal authorities in such a way that is highly deferential to the president,” Young added. “Unfortunately, to do so would be a gross abdication of our responsibilities in Congress to not just oversee military activities, but to actually authorize them.”

Young said he’s been asking questions about how the Biden administration is justifying using U.S. troops to counter attacks by Houthis on commercial shipping vessels in the Red Sea.

“I’m very, very concerned that if Congress doesn’t specifically authorize the use of military force in a situation like this, we’re going to end up with another potential Iraq scenario,” Young said. “And none of my constituents want that.”

Virginia Democratic Rep. Abigail Spanberger said in a written statement to States Newsroom that last year she “was proud to see my colleagues in the U.S. Senate vote to remove this outdated war authority from the books — voting to pass a bill that I am proud to help lead in the U.S. House.”

“This authorization is long overdue for repeal, which is why we have voted multiple times to repeal the 2002 AUMF with bipartisan support,” Spanberger said. “The responsibility is now on Speaker Johnson to bring our bipartisan legislation to the floor of the U.S. House and demonstrate that we are serious about reclaiming our fundamental and constitutional authority to make decisions of war and peace.”

Johnson’s office did not return a request for comment on the AUMF repeal legislation.

‘A debate more about the past’

Michael O’Hanlon, senior fellow and director of foreign policy research at the Brookings Institution, said in an interview with States Newsroom that trying to repeal old AUMFs is more of a theoretical than practical discussion right now, possibly slowing down the process.

“It’s almost a debate more about the past than it is about the future,” O’Hanlon said.

The AUMFs for the Iraq wars are “basically obsolete,” though O’Hanlon said, “there could be real value in updating (the 2001 AUMF) to extend it to the kind of groups that have actually been more involved in attacking U.S. forces in the region recently.”

There are also bigger, potentially more consequential debates that Congress should be preparing for, he said.

“The retracting of the Iraq resolutions strikes me as more political theater than anything else on balance,” O’Hanlon said. “The much more consequential issue to me is, what role would Congress play if China ever attacked Taiwan?”

Such a war would not be covered by any of the existing AUMFs that Congress has enacted in recent decades, likely setting off a frenzied debate about war powers between Congress and the president.

“And yet, the debate seems so hung up on the whole legacy of the forever wars in the Middle East that this giant elephant in the room is being ignored,” O’Hanlon said. “And President (Joe) Biden has said four times in the past that if China attacked Taiwan, that we would protect Taiwan. And he’s never acknowledged a role for Congress. To me, that is the real story.”

The U.S. Constitution grants Congress the authority “to declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water.”

But presidents have long used AUMFs or declarations of war to justify military operations that might not have been expected or intended when Congress approved the measures.

“The landmark legislation on this in some ways was the War Powers Act of 1973, which was out of frustration with Vietnam, where Congress had just passed one little resolution about a small exchange of gunfire in 1964 and it wound up being used to justify and authorize the entire Vietnam War,” O’Hanlon said. “And, you know, 56,000 American dead later, Congress tried to be more assertive.”

In the decades since the legislation was approved, O’Hanlon said, there has been a recurring tug-of-war between the president as commander-in-chief and legislative branch about when and how the U.S. military can use force.

“There’s a long history of Congress, trying to have some influence but not really always wanting to declare war, not always feeling it’s realistic to reach that standard,” O’Hanlon said. “And yet not wanting to let the president just do whatever he wants.”  link

Goldilocks' Comments and Global Economic News Friday Evening 3-22-24

 Goldilocks' Comments and Global Economic News Friday Evening 3-22-24

Good Evening Dinar Recaps,

USDC and XRP Announcement:

Ripple is setting the stage for expansive growth inside the new Digital Economy. XRP is a Bridge Digital Currency capable of exchanging foreign currencies from different countries within a matter of seconds.

Over 1,500 projects Globally are presently leveraging XRP’s Ledger. Now, Circle is thinking about bringing its U.S. Dollar Stablecoin (USDC) to the Ripple (XRP) Ledger.

This is a wonderful opportunity for the XRP Ledger Network to expand and grow going forward. Given its own ledger and payment coin network capable of working seamlessly together, XRP is set to expand on a massive scale in the new Digital Economy.   Coinpedia 

©✓Goldilocks

~~~~~~~~~

It's time for gold to begin to shine. Governments have been buying it. Central Banks have been buying it. The World Bank has it. And, the IMF has it.

The wealthy are beginning to buy gold. Credence and honor to this well-deserved metal is now being made known in the retail sector.

"Consumer spending consistently accounts for about 70% of the U.S. economy."

People are waking up to the fact that the government is not going to save them going forward. The geopolitical tensions and debt among countries and within people's own countries are the driving force of this new trend.

As people wake up to the power of gold and other commodities, the number of people purchasing these precious metals are beginning to see it's real value like never before in history. Reuters  Investopedia
© Goldilocks

~~~~~~~~~

Gold is pricing in money printing. When the FED begins to lower interest rates, the value of gold begins to increase all assets that it supports.

At this time, many of our new Digital Assets have gold baked into their values. Inflation is continuing to climb causing many distortions into our assets across every sector of the market.

These distortions are expected to be replaced gradually with new digital assets backed by gold giving our economy a real value to work with going forward on the QFS.

These next few months can be characterized as a replacing of the old economy with a new economy based on gold as money moved across continents under a new Digital Financial Framework.

Everything is about to turn to gold. "All roads lead to gold and gold will set us free." NASDAQ

© Goldilocks

~~~~~~~~~

"The Ministry of Oil has announced a reduction in oil exports to an average of 3.3 million barrels per day (bpd) for the coming months, aimed at absorbing the recent increase in Iraq's production recorded in January and February."

New price valuations are coming for the oil sector, and placing tight regulations on a certain amount of production allows for the assessment of new values to be accurately assessed.

The next few months will give us an idea how oil reacts to new predetermined price valuations that will be placed on it based on trading in new local currencies backed by gold above and beyond working with a predetermined price of the dollar in exchanges correlated with a programmed value placed on their own currency.

At this time, Iraq is able to test and measure their own currency's value based upon new exchange mechanisms being placed inside the new digital economy. These new valuations will be tested in the New World and the New Global Digital Economy.  Iraq Business News

© Goldilocks
~~~~~~~~~

Amid Weak Demand for Existing Homes, Active Listings & Price Reductions Jump, Listing Prices Weaken | Wolf Street

~~~~~~~~~

SEC Adopts Expanded Exchange Act Dealer Rules: What Do the New SEC Rules Mean for DeFi? | BCLP - JDSupra

~~~~~~~~~

"Imagine a world where combatant commanders can see everything they need to see to make strategic decisions," Martell said in painting a picture of the AI-enabled future for the audience. "Imagine a world where those combatant commanders aren't getting that information via PowerPoint or via emails from across the [organization] — the turnaround time for situational awareness shrinks from a day or two to 10 minutes."  | Defense News
~~~~~~~~~

Ukraine's survival in danger, Pentagon chief warns | Yahoo News

~~~~~~~~~

US-based Central Bank taps TCS for core banking upgrade - FinTech Futures: Fintech news

~~~~~~~~~

(Madison, Wisconsin) – The Wisconsin Senate has voted in favor of Assembly Bill 29 to end the sales tax on purchases of gold and silver. Joining the state Assembly, which overwhelmingly voted to approve this law last week, Senators voted 23-9 in favor of this pro-sound money legislation. The bill will now be transmitted to Gov. Tony Evers for his signature.  Sound Money Defense

~~~~~~~~~

Mexico Central Bank Delivers First Interest Rate Cut Since 2021 - Bloomberg

~~~~~~~~~

Bank of England’s Quick Pivot Puts June Rate Cut in Focus | Finance Yahoo

~~~~~~~~~

IQD Exchange Rate Iraq  IMF Report on CBI  Latest News Weeks End 3/ 22 /24 Anti-Aircraft Weapons | YouTube

~~~~~~~~~

From today's information, it looks like they are accelerating timelines for Stablecoins.
© Goldilocks

~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

Goldilocks' Telegram Room

Q & A Telegram Room

Goldilocks on the Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

"Tidbits From TNT" Friday Morning 3-22-2024

TNT:

Tishwash:  Adviser to the Prime Minister: The decline of the dollar is an indicator of the strength of the dinar and a tangible success of the economic policy

The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed the strength of the dinar against the dinar after a relative decline in the exchange rate.

Saleh told {Al-Furat News} agency, “We indicate the strength of the Iraqi dinar, expressed in the decline in the parallel market rates of exchange in favor of the official exchange rate, a tangible success in the cohesion of the country’s economic policy in its three aspects: monetary, financial, and commercial, in providing a coherent climate of stability in the general level of prices.” And containing seasonal price fluctuations for high-demand items, specifically providing basic food commodities that have low price elasticities of demand because they are necessary commodities associated with consumption and daily living.”

He noted "the importance and speed of customs procedures, which were represented by (reducing customs tariffs and diversifying imports without quantitative limits for necessary goods) as part of the performance of the financial policy in supporting price stability and ensuring the supply of food and essential goods and production supplies at the official exchange rate and in accordance with the requirements of the national economy."

The Parliamentary Finance Committee had expected the dollar price to continue to decline as the results of the measures taken by the Central Bank of Iraq to limit the rise in the foreign currency began to appear.

The dollar exchange rate a few days ago was about 1,500 or 1,490 thousand dinars to the dollar.    link

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

 Tishwash: Revealing a move to lift US sanctions on banks

Today, Thursday, a member of the House of Representatives, Muhammad Saadoun, revealed a government move to lift the sanctions imposed on Iraqi banks by the US Federal Reserve, while confirming that the joint committees have made great progress in the ongoing negotiations on many files.

In an interview with the Maalouma Agency, Saadoun said, “The file of removing American combat forces is the first file in the negotiations,” noting “the necessity of giving the government a full opportunity in the negotiations with Washington.”

He continued, "The files being discussed now are not limited to combat forces only, but also include the economic and political aspects," pointing out that "the government's efforts have begun to lift the sanctions imposed on banks." 

Saadoun concluded his speech: “The removal of American combat forces has reached advanced stages in terms of setting the timetable and other points,” indicating that “the joint committees have made great strides in the ongoing negotiations on many files.”

The US Treasury Department had imposed sanctions yesterday. On 14 Iraqi banks in order to remove them from the currency auction platform at the Central Bank, and this is what many consider to be a purely political decision to bring the dollar crisis back to the forefront again. link

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

CandyKisses:  Iraq opens new consulate in China

Baghdad - Iraq Today:

 The opening of the Iraqi Consulate General in Guangzhou, China, was announced at a ceremony attended by the Director General of the Consular Department of the Chinese Ministry of Foreign Affairs Wu Xi, Vice Governor of Guangdong Province, Lin Tao, and the Iraqi Ambassador to China Saeed Sahud, Consul General in Guangzhou, according to a statement by the Chinese Embassy in Iraq.

"On behalf of the Ministry of Foreign Affairs, Wu Xi congratulated the opening of the Consulate General of Iraq in Guangzhou," the statement said.

The statement quoted Wu Xi as saying, "2024 is a crucial year to comprehensively promote Chinese-style modernization. Under the wise leadership of President Xi Jinping, China strives to promote high-quality development and build a community with a shared future for mankind.

China and Iraq have a deep traditional friendship and have forged a strategic partnership, she said. We believe that the establishment of the Consulate General will provide a new window for mutually beneficial cooperation and friendly exchanges between China and Iraq, according to the statement.

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

CandyKisses:  Sudanese adviser reveals benefits of Iraq joining European Bank membership

Mawazine News

The Prime Minister’s Advisor for Finance, Mozhmeh Mohammed Saleh, on Friday summarized the benefits of Iraq joining the membership of the European Bank for Reconstruction and Development.

Saleh said, to the official agency of his follower / Mawazine News, that "There is a positive syndrome between building the development strategy embodied today by the government's philosophy of launching the development initiative with comprehensive sectoral economic links, which is called the project (development road), which is the corridor and strategic project that connects the European Union countries in Asia through Iraq and the Gulf maritime corridors and vice versa on the one hand

And the requirements for implementing the various stages of the development road through the role occupied by Iraq's membership in the European Bank for Reconstruction and Development on the other hand, especially in the preferences of obtaining European technology and ensuring the role of EU countries companies in implementing the development path with its joints, whether in infrastructure and projects industrial productivity and various logistics services.”

He added that "the membership provides our country with the likelihood of obtaining easy financing, technical assistance and its requirements Europe in supporting development activity in our country in its various joints and sectors," continuing that "Iraq's accession to the membership of the European Bank for Reconstruction and Development represents a broad view that carries strategic dimensions in the cohesion of the climate of economic development in Iraq and in accordance with the requirements of the government program and the national development plan 2024-2028, while embodying the needs of our country for the sustainability of international cooperation in reconstruction, development and sustainable development in the long term."

Mot: ...... YAHoooooooooooooooooo 

Mot: .... He Wanted to See Her in a Tank Top - Sooo She ~~~~

Iraq Economic News and Points to Ponder Thursday Afternoon 3-21-24

Iraq Economic News and Points to Ponder Thursday Afternoon 3-21-24

Tlm724 Administrator Bondlady’s Corner

Iraq joins the World Federation of Free Economic Zones (FEMOZA). 

Economy     Iraq     Join     World Federation     For free economic zones

2024-03-21 00:24   Shafaq News/ The Industrial Estates Authority, one of the formations of the Iraqi Ministry of Industry and Minerals, announced on Thursday its joining the World Federation of Free Economic Zones (FEMOZA) in cooperation with the United Nations Industrial Development Organization (UNIDO).

The Director General of the Authority, Hamid Awad Muhammad, explained in a statement that

the Authority is a vital entity charged with advancing industrial cities and their prosperity throughout Iraq, indicating that the

joining came due to the importance of international partnerships in achieving the objectives of the Authority in light of economic changes and the movement of markets, shipping lines, and global land and railway transport, and in order to Interact with it professionally, taking advantage of Iraq's strategic geographical location.

He pointed out that the FEMOZA organization is considered an internationally known union committed to promoting sustainable economic zones and has links with (200) countries in the world.

The Director of the Authority added that this affiliation confirms the objectives of the Industrial Estates Authority in creating an environment conducive to

     investment,

     innovation and

     economic diversification by benefiting from the organization and its global network, as well as

     attracting foreign investment to Iraq and

     enhancing the Authority’s ability to establish and manage industrial zones that help in sustainable development and international business participation.

     Accelerating industrial growth within Iraq by benefiting from the expertise of specialized international organizations. https://shafaq.com/ar/اقتصـاد/العراق-ينضم-لى-ال-تحاد-العالمي-للمناطق-ال-قتصادية-الح-ـرة-FEMOZA    

Iraq Joins The Membership Of The European Bank For Reconstruction And Development

 local    Yesterday, 10:30   Baghdad – INA  The Iraqi Fund for External Development in the Ministry of Finance announced today, Wednesday, that the Republic of Iraq has joined the membership of the European Bank for Reconstruction and Development (EBRD) after the House of Representatives approved the accession law.

The Fund said in a statement received by the Iraqi News Agency (INA):

“The Republic of Iraq has joined the membership of the European Bank for Reconstruction and Development (EBRD) after the House of Representatives approved the accession law, which comes within the Ministry’s vision of strengthening frameworks of cooperation and communication between Iraq and institutions.” International Finance, after the Fund’s continuous coordination with the European Bank’s management, the completion of Iraq’s contribution process, and the completion of all documents related to accession.”

He added,  "Joining will enable the European Bank to

     finance projects within the country,

     promote development for various sectors,

     support the entrepreneurship initiative, and

     support the private sector through investments and

     participation in policy dialogue and technical assistance," pointing out that

"the European Bank for Reconstruction and Development (EBRD) is a multi-faceted development bank." Parties, headquartered in London,

the bank focuses on investment as a tool to rebuild market economies in beneficiary countries, with an emphasis on supporting the private sector and its investments in advisory and political activities.

 The bank also helps countries develop their policies to promote energy self-sufficiency or renewable energy markets.  https://www.ina.iq/205337--.html   

An Economist Calls On The Government To Support And Stimulate The Private Sector

 Economy| 05:58 - 03/17/2024  Mawazine News - Baghdad   The economic expert, Hassan Ismaik, today, Sunday, called on the government to support and stimulate the private sector in Iraq. 

In an interview with Mawazine News, Ismaik said, “There is a need to rehabilitate the government sector in order to stimulate growth in the private sector, which will  contribute to creating partnerships and  strategies with foreign direct investment in unexploited sectors such as  transportation,  tourism, and the  shift towards smart agriculture, as well as  Industrial and technological cities. 

He stressed "the necessity of shifting towards investing in quality of life and enabling Iraq to create a new digital environment."  He pointed out that

"there are many experts who link the reforms implemented by the Iraqi government headed by Muhammad Shiaa Al-Sudani, and  enabling the country to shift towards digitalization, as the solution to many of its crises, especially  corruption,  administrative slackness, and   poor service provision, and      encouraging investors and facilitating their work, which requires...

Firstly,  revitalizing and streamlining the public administrative apparatus.”  He pointed out that  "activating the public sector in Iraq must coincide with measures by which the government  supports the private sector,  increases the growth of its business, and  raises the level of partnership between it and the public sector."   https://www.mawazin.net/Details.aspx?jimare=244063   

Parliament Finance: The Central Bank Will Move To Support Banks Through This Mechanism

Money and business    Economy News – Baghdad  Today, Wednesday, the Parliamentary Finance Committee revealed the Central Bank’s intention to support banks through loans, while indicating that the Ministry of Labor has opened the platform for applying for small project loans.

The representative of the committee, Mustafa Al-Karawi, said in an interview followed by Al-Eqtisad News: “The committee, during its hosting of the governor of the Central Bank, called for support for banks, especially in the issue of loans,” indicating that “the governor of the central bank promised the committee to launch loans, especially the Real Estate Bank, to support the construction movement.”

He added, "Loans for small projects will be through the Ministry of Labor, which in turn has opened a platform to provide unregistered people who have not benefited from previous loans in order to support projects, with the value of the loan reaching 50 million dinars."

Views 183 03/20/2024 - https://economy-news.net/content.php?id=41682

Iraq's Accession To The European Bank For Reconstruction And DevelopmentEconomy | 12:13 - 03/20/2024  Mawazine News – Baghdad  The Iraqi Fund for External Development in the Ministry of Finance announced on Wednesday that the Republic of Iraq has joined the membership of the European Bank for Reconstruction and Development (EBRD) after the House of Representatives approved the accession law.

The Finance Ministry said in a statement, received by Mawazine News, that this comes within the Ministry’s vision to strengthen cooperation and communication frameworks between Iraq and international financial institutions, and after the Fund’s continuous coordination with the management of the European Bank, the completion of Iraq’s contribution process, and the completion of all documents related to accession.

The Fund confirmed, according to the Finance Statement, that accession will enable the European Bank to finance projects within the country, promote development of various sectors, support the entrepreneurship initiative, and support the private sector through investments and participation in policy dialogue and technical assistance.

The statement indicated that the European Bank for Reconstruction and Development (EBRD) is a multilateral development bank headquartered in London, and focuses on investment as a tool to rebuild market economies in beneficiary countries, with an emphasis on supporting the private sector and its investments in advisory and political activities.

According to the Iraqi Finance Ministry, this bank helps countries develop their policies to promote self-sufficiency in energy or renewable energy markets. https://www.mawazin.net/Details.aspx?jimare=244232

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

MilitiaMan: Iraqi Dinar - IQD update - Accountability - Al-Sudani's Achievements 2024 - Development Road - EBRD

Iraqi Dinar - IQD update - Accountability - Al-Sudani's Achievements 2024 - Development Road - EBRD

MilitiaMan and Crew:  3-20-2024

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=KpBOu2QhuWM

Iraq Economic News and Points to Ponder Thursday AM 3-21-24

Iraq Economic News and Points to Ponder Thursday AM 3-21-24

Tlm724 Administrator Bondlady’s Corner

Oil Is Retreating From The Highest Level In Several Months, Affected By The Rise In The Dollar

Wednesday 20, March 2024 08:57 | Economical Number of readings: 417  Baghdad / NINA / Oil prices fell in early Asian trading, on Wednesday morning, affected by the rise in the dollar, which contributed to curbing investors’ appetite, especially after the two benchmark crude oils rose to their highest levels in several months during the past two sessions.

Brent crude futures for May delivery fell 19 cents, or 0.2%, to $87.19 a barrel by dawn today, and US West Texas Intermediate crude futures for April delivery, which expire at settlement on Wednesday, fell 35 cents, or 0.4%, to $83.12 per barrel.

The dollar rose for the fifth session in a row after the release of data indicating the resilience of the US economy, which affected the morale of Asian buyers. A stronger dollar makes oil more expensive for holders of other currencies, weakening demand.

In the previous session, the two crude oil prices recorded their highest levels since late October, as traders assessed the impact of the recent attacks launched by Ukraine on Russian refineries on global oil supplies.

Trade sources told Reuters on Tuesday that the decrease in Russian refining capacity as a result of the strikes led to an increase in crude exports from the country.

The sources added that oil exports from Russia's western ports will increase by about 260,000 barrels per day in March, above the initial monthly plan of up to 2.22 million barrels per day.

Sources citing the American Petroleum Institute reported that US stocks of crude oil and gasoline decreased last week, while distillate stocks rose.

A Reuters poll of analysts expected stocks to rise by about ten thousand barrels last week.

Official data from the US Energy Information Administration is also expected to be issued later today, Wednesday./End 9   https://ninanews.com/Website/News/Details?key=1113877

Societal Reluctance To Make Bank Deposits In Iraq...The Full Story

 Economy     breaking     Iraqi banks     Dollar smuggling     US sanctions     Money laundering     Financing terrorism

2024-03-20 10:26   Shafaq News/ Iraqi citizens are afraid to continue depositing their money in local banks, fearing that they will later be unable to withdraw it as a result of the American sanctions imposed from time to time on banks operating inside the country.

 There are many government and private banks spread in Iraq, as  their number throughout the country reaches 78 banks, including 7 government banks, one of which is Islamic, in addition to 28 private Islamic banks, and 25 commercial banks that include two branches in the Emirates and Saudi Arabia, in addition to 16 foreign commercial banks and two Islamic banks. Foreigners, and these banks have 891 branches, most of which were formed after the year 2003, in addition to opening a currency selling window in the Central Bank of Iraq.

 Reasons For Abstention

 The economic expert, Omar Al-Halbousi, attributes citizens’ reluctance to deposit their money in Iraqi banks to a group of factors, thefirst of which is “the citizen’s lack of confidence in the Iraqi banking sector,  especially after the collapse of a group of banks that have been in operation for several years, without returning depositors’ money despite their filing of complaints with the Central Bank and the Iraqi judiciary.”.

 Al-Halbousi added in an interview with Shafaq News Agency, “Also, the weakness of the Central Bank of Iraq in controlling and supervising the work of banks was another factor for citizens hoarding their money at home without depositing it in banks.

In addition, the ownership of private banks by people accused of corruption or external parties is one of the factors.” Citizens’ reluctance to deposit their money in the banking system.”

He continues, "Then came the American sanctions on a group of private banks, forming another factor in citizens' reluctance to deal with banks and deposit their money in them for fear of these banks' funds freezing or faltering and their inability to return depositors' money, since the banks depend on the dollar as the basis of their work, and there is no... “It has investment diversification that can compensate for that.”

 “Based on the above, citizens’ reluctance to deposit their money in banks will increase with the increase in sanctions on banks,” Al-Halbousi says.

 It is noteworthy that the US Treasury Department had imposed sanctions on 32 private banks out of 72 banks.

 The sanctions imposed by the Treasury Department, according to Al-Halbousi, are divided into two types:

 “The first is the penalty of preventing dealing in dollars while these banks can deal in other currencies.”  He added,  "The second type of sanctions is the Foreign Assets Management Office in the Ministry of the Treasury imposing sanctions on banks,

the latest of which is (Al-Huda Islamic Bank), which means that this bank is unable to deal in dollars, and foreign banks cannot deal with it due to its serious violations."

 He explains that "the sanctions imposed by the US Treasury Department on banks come due to their committing financial crimes, including ( money laundering,  financing terrorism,   circumventing US sanctions,  smuggling the dollar, and  using forged commercial invoices)."

He points out that "the US Treasury Department had directed the Central Bank of Iraq to  monitor the work of banks,   follow up on their activities, and   punish perpetrators of financial crimes."

 Al-Halbousi believes that  “the Central Bank of Iraq overlooked this issue, which prompted the US Treasury Department to impose sanctions on these banks, knowing that the list of sanctions may be increased, and  there are banks that will soon be punished for committing financial crimes.

 Sanctions will also be imposed on companies and individuals who constitute fronts for parties accused of terrorism.”

The economist believes that "the first government agency to be punished is the Central Bank of Iraq and a group of its perpetrators, which will lead to a serious economic and financial setback."

 Al-Halbousi states,  “The amount of cash exported by the Central Bank is 102 trillion Iraqi dinars until the end of December 2023, with

     60 trillion dinars being the size of deposits in government banks,

     13 trillion dinars being deposits in private banks, and

     93 trillion dinars being the size of the amount of cash outside.” The banking system.

 Imbalance of financial inclusion

The Iraqi banking system suffers from a lack of citizens’ confidence in it, and financial inclusion in Iraq faces major challenges related to the inability of citizens to achieve their financial ambitions with Iraqi banks.

Since Iraq suffers from a lack of financial inclusion, “this scientifically and practically hinders any attempt at sustainable development in light of the growing mismanagement and implementation of decisions and laws in accordance with political desires,” according to economic affairs researcher, Ahmed Eid.

Eid explained to Shafaq News Agency,  “Citizens’ cash deposits in banks are affected by several factors, foremost of which is the   lack of governance and deterrent oversight against legal violations in disbursing funds, as well as  interest rates related to loans.” 

He continues, "Also, there is a delay in modern technological activities in managing financial matters, and the failure to implement electronic payment in the correct manner, as electronic payment operations are still delayed, and there are no attractive offers for citizens."

 The researcher in economic affairs confirms that  “citizens prefer to save and store their money at home rather than deposit it in banks,because the majority of banks in Iraq are unreliable and belong to influential parties,  which makes them vulnerable to bankruptcy at any time.

  As for government banks, they do not provide offers and facilities to citizens in order to "Push their desires into deposit."

 Deposit In Dollars And Dinars

 As for cash deposits, they may be in dollars or Iraqi dinars.

 If they are in Iraqi dinars, the     issue has nothing to do with American sanctions and     there is no problem, and     they continue to be implemented, according to the economic expert, Abdul Rahman Al-Sheikhli.  Al-Sheikhli added to Shafaq News Agency,

 “If the cash deposits are in dollars, it is worth clarifying at the beginning that the banking custom is that     when a citizen deposits his money in the bank for current account purposes or as deposits for interest purposes, the  depositor’s money remains circulating within banking channels from the same bank in which the citizen deposited his money, and it will not You go somewhere else."

 “When the citizen needs it, the money is returned to him in the same currency, because it did not leave the bank, but rather circulates within the banking channels of the bank itself,” according to Al-Sheikhly.  Al-Sheikhili points out that

  “sometimes there is a delay when returning funds, as in the past it was possible to resort to the Central Bank and withdraw funds from it in order to give the money to the depositor,

 but currently withdrawals from the Central Bank in dollars are not allowed, which requires returning the funds that were given as credit to others, so sometimes it may be delayed.” Delivery time.”

 He notes that "the bank is punished, held accountable, and its license is withdrawn if it hesitates and does not pay its obligations to citizens.

This is a sacred matter, but sometimes as a result of some behaviors that have occurred among banks in general, they have a shortage in banking liquidity." 

He points out that,  “During the entry of ISIS in 2014, all banks had letters of guarantee belonging to companies, but these companies were reluctant to carry out their duties, so the amounts of the letters of guarantee were confiscated, and as a result, liquidity became scarce in some banks, and they stumbled, but the solid banks Which has great liquidity and high cash masses estimated at trillions, not billions, has not faced a problem.” 

Al-Sheikhly added,   “The Central Bank also reserves part of the banks’ capital as a reserve, and can compensate through it.

There is also a deposit insurance company established by the Central Bank approximately 4 years ago, and this covers part of the deficit that the bank may suffer from.”

 He added, "But this is in the event of the bank's bankruptcy, and this matter only happened in one bank, which is (Basra International Bank), which declared bankruptcy, and there is a move to restore its business, but the rest of the banks do not face a problem, this is on the one hand."

 Al-Sheikhli continues,   “On the other hand, the eight banks that were recently subjected to a ban on dealing in the dollar, this is the first time such a decision has been issued by the Central Bank of Iraq and not by the American administration, except for one bank (Al-Huda) of these eight banks, which was at the behest of the Ministry of the Treasury.” America to prove its relationship with the Iranian Revolutionary Guard.

 As for the remaining seven other banks, the blocking decision (preventing their entry into the currency selling window) was temporary and for audit and supervisory purposes by the Central Bank, according to Al-Sheikhly.

 He points out that "the window for selling the currency will gradually end during the year 2024, and the same will be the case for the electronic platform, so the extent of the negative impact of this ban on banks will not be of great benefit."

 The economic expert explains this by saying,  “The decision was issued by the Central Bank, in agreement with the US Treasury Department, to diversify the basket of currencies without limiting it to the US dollar, and on this basis accounts were opened for private banks abroad with solid foreign banks with foreign banking relations, and based on that, banks that withheld Regarding dealing in the dollar, working with all banking products except dealing in the dollar.”

Central Bank Standards

The Central Bank of Iraq supervises the work of banks in accordance with Law No. 56 of 2004, and a special law on money laundering and terrorist financing No. 39 of 2015 was enacted, and it began implementing this law on January 1, 2016.

The Central Bank began to impose on banks to apply global compliance standards, which forced banks to assign a manager to follow up on money laundering operations for all existing money movements in order to comply with international standards, according to economic expert, Abdul Rahman Al-Mashhadani. 

Al-Mashhadani explained to Shafaq News Agency, "But the problem is that a large portion of these banks did not adhere to the standards, and that whoever deals with the American side must adhere to its standards by preventing dealing with sanctioned countries. However, neither the banks nor the central bank nor even the government were able to convince the American side that this money “It is neither money laundering nor terrorist financing, but rather trade financing.”

He explains,  “Iraq imports from Iran about 25 to 30 million dollars daily, and how is this met in the absence of trade with them? Rather, we import and do not export to them, and whoever exports needs money?” 

Al-Mashhadani continues,   “The Central Bank of Iraq recently asked the banks to seek the assistance of experienced international companies to audit their work and programs during the past three years, so that when a report is issued by these companies, the American side will not claim favoritism in the report, because these companies are solid international companies, and the Americans are... Who proposed 5 companies, and that banks be transformed from shops into real banks.”

 He notes that   “the problem is that the Iraqi banks are small, and one of the conditions was for the banks to obtain a classification from the international classifications issued by international classification companies, whether (Standard & Poor’s) or (Moody’s) and others.

 When a report is issued by these institutions, a report will be issued.” "Sober, and the American side will not object to it."

The economic expert points out that  US sanctions  “the number of Iraqi banks that are subject to US sanctions is 28 banks, and they started with 4 banks (the first phase) in November 2022, which are ( Al-Ansari Al-Islami for Investment and Finance, the  Islamic Holding Company for Investment and Finance, the  Iraqi Middle East for Investment, and Asia.”  Iraq Islamic Investment and Finance). 

He added,"Then it was followed by 14 banks (the second phase) in May 2023, which are the banks ( Islamic Advisor for Investment and Finance,  Al-Qurtas Islamic Investment and Finance,  Islamic Spectrum,  Elaf, Erbil for Investment and Finance,   International Islamic Bank,  Across Iraq,  Mosul for Development and Investment, and  Al Rajeh.), Sumer Commercial,  International Islamic Trust,  Ur Islamic,  Islamic World for Investment and Finance, and  Zain Iraq Islamic for Investment and Finance).  Al-Mashhadani confirms,  

“And then 8 banks were added to it last February, which are (Assyria International Investment,  Iraqi Investment,  Iraqi Union,  Kurdistan Islamic International for Investment and Development,  Al-Huda,   Southern Islamic Investment and Finance,  Arab Islamic, and Hammurabi Commercial).”

 He notes that   Hamad Al-Moussawi’s (Al-Bilad) Bank was punished, but it changed its name to (Al-Huda), and was punished again, so when Hamad Al-Musawi Bank is counted as one, the total is 27 banks, but when each penalty is calculated separately, Then there are two penalties, and thus the total is 28 banks.”   https://shafaq.com/ar/اقتصـاد/عزوف-مجتمعي-عن-ال-يداع-المصرفي-في-العراق-القصة-الكاملة

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

Iraqi News Highlights and Points to Ponder Wednesday Evening 3-20-24

Iraqi News Highlights and Points to Ponder Wednesday Evening 3-20-24

A Specialist Points Out The Reasons For The Noticeable Decline Of The Dollar In Iraq: It Will Reach The Official Price

Economy |Today, Baghdad today - Baghdad  Today, Wednesday (March 20, 2024), the expert in financial and economic affairs, Ahmed Al-Tamimi, explained the reasons for the decline in the dollar exchange rate in the parallel market.

The past few days have witnessed a noticeable decline in the exchange rate of the dollar against the Iraqi dinar in the parallel market, reaching at times 149 thousand dinars for every 100 dollars.

Al-Tamimi told “Baghdad Today” that “the continuous decline in the dollar exchange rate in the parallel market confirms the government’s success in the dollar issue, controlling the crisis and preventing its aggravation,” expecting “this decline to continue gradually over the coming days, until it reaches the official price.”

He explains that “the measures and decisions by the government and the Central Bank have contributed greatly to limiting the rise of the dollar and controlling the market, especially with regard to cleaning up foreign remittances, as well as finding ways to finance foreign imports in currencies other than the US dollar, and other measures that the government has proven successful in this file.” .

On (March 14, 2024), the 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 press statement, after being hosted by the Parliamentary Finance Committee, 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 has 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. However, the Iraqi government took a number of measures to limit this rise and control the parallel market by striking currency smugglers at times, prosecuting speculators, and searching for an alternative to the dollar in commercial transactions at other times, which contributed significantly to the recovery. The Iraqi dinar again against the US dollar.   LINK

To Generalize The "Iraqi Truce"... American-Iranian Talks To Prevent The Escalation Of The Conflict

2024-03-20 Shafaq News/ The English newspaper “The National” reported that the ongoing indirect talks between the United States and Iran seek to build on the undeclared truce understanding in Iraq with the Iraqi armed factions, by expanding it to become effective on other fronts in the region.

The newspaper indicated, in a report translated by Shafaq News Agency, that the Iranian media confirmed the occurrence of the recent rounds of indirect talks with the United States, but said that it focused on the issue of lifting the sanctions imposed on Iran, which is believed to be the main incentive for Tehran’s increasing initiative to reduce the conflict. Regional.

The report quoted an informed source as saying, commenting on the talks, that “there are clear American efforts for the Iranians to maintain the relative restraint they are exercising on their part, especially on the Iraqi front, where an unofficial truce has been ongoing for more than a month.”

The report stated that Washington recently renewed the exemption from sanctions that gives Iran access to $10 billion in frozen funds, an exemption that allows Tehran to use electricity revenues from Iraq to support the budget and pay off debts, and comes 4 months after a similar exemption.

The report quoted a source close to the Hezbollah group in Lebanon as saying that this exemption appears to be one of the indicators that the administration of President Joe Biden “is showing the extent of its willingness to win over the Iranians in this sensitive period of the war in Gaza, and with the drums of electoral war beginning to beat in The United States,” adding, “It does not seem that Biden is ready for a major adventure that might consume more of his political capital.”

After the report pointed out that Washington and Tehran had for years engaged in talks through mediators in Amman, Geneva and other cities related to Tehran’s nuclear ambitions, ballistic missile program and regional spheres of influence, it said that the recent talks in the Sultanate of Oman turned towards maintaining regional security and finding ways to prevent the outbreak of war. Widespread attacks in the Middle East after the Hamas attack on October 7, which sparked Israel's war in Gaza and led to the mobilization of armed factions allied with Iran throughout the region.

The report stated that armed factions in Iraq and Syria launched attacks on American forces in the context of a coordinated front since the outbreak of the war in Gaza to pressure for an immediate ceasefire in the Palestinian territories.

The report continued, citing sources in Baghdad and Beirut, saying that the last strike carried out by these factions was on February 4, adding that the cessation of attacks against American forces was part of an “undeclared truce” that included Tehran and the Iraqi government, after the attack that killed 3 Americans were killed on the Jordanian-Syrian border, and Washington attributed them to the "Islamic resistance in Iraq" supported by Iran, which includes the "Hezbollah Brigades."

The report noted that Quds Force Commander Ismail Qaani then traveled to Baghdad and met with faction leaders in order to push for a quick breakthrough. Shortly thereafter, Kataib Hezbollah announced the suspension of its military operations against American forces in Syria and Iraq to prevent “any embarrassment” to the government in Baghdad, while a source in Beirut close to the anti-Israel front said, "It is difficult not to imagine that the Americans are part of that."

The report continued that Hezbollah in Lebanon is waging a controlled war of attrition against Israel, while the United States has devoted great efforts to achieving a truce and preventing the escalation of the conflict, as such a war could have devastating consequences for Lebanon and Israel, and may ignite a broader regional confrontation.

The report added that while Hezbollah rejects attempts mediated by the United States to call for a truce before reaching a ceasefire in Gaza, the party has also not shown much interest in involving itself in a major war with Israel, while Israel carried out deeper attacks inside Lebanon in In recent weeks, with the aim of removing the party from the south using a tactic that Israeli officials described as either diplomacy or force.

The report quoted sources in Beirut close to the ongoing diplomatic efforts, saying that arrangements to begin negotiations to end the border conflict between Lebanon and Israel are progressing despite fears of a large-scale war with Hezbollah, as the deal is brokered by the American envoy Amos Hockstein and the Speaker of the Lebanese Parliament, Nabih Berri. He is the head of the Amal Movement, which is close to Hezbollah, as there is no direct American communication with Hezbollah.

According to two political sources close to Hezbollah, Ismail Qaani traveled to Lebanon several times in recent months in order to meet with Hezbollah leader Hassan Nasrallah and discuss ways to continue pressure on Israel without entering into a wide-scale war. But one of the sources said, “The Iranians did not go to tell Nasrallah: We do not want to get involved in the war with Israel.” Instead, they went to coordinate the work of the Quds Force (with Hezbollah).”

The report stated that American and Iranian officials told the Financial Times last week that the United States held secret talks with Iran last January in the Sultanate of Oman in order to try to persuade Tehran to use its influence over the Houthi “Ansar Allah” movement in Yemen in order to Ending attacks on ships in the Red Sea.

However, the report said that a high-ranking Western diplomat, who recently toured the front lines between Israel and Lebanon, questioned Washington’s ability to limit the regional impact of the conflict in Gaza, especially in Lebanon, saying that “the regional war is already continuing,” referring to the front. Between Hezbollah and Israel, adding that the Gaza war revealed Israel's weakness in the face of any multi-faceted attacks by factions allied with Iran, as Hezbollah has more military spending and missile capabilities than Hamas.

The report continued that the existential threat posed by Hezbollah's attacks after last October 7, which appeared in the inability of tens of thousands of Israeli residents to return to their northern border towns, highlights Israel's motives for pushing its enemy to retreat.

The report quoted the informed source as saying, “The only way to deal with this threat is to significantly remove Hezbollah from the border, and it does not matter whether the Americans agree to that, because the Israelis do not listen to them anyway.”  Translated by: Shafaq News  LINK

The Prime Minister And The Republic Discuss The General Situation In The Country

Baghdad Today – Baghdad  The President of the Republic, Abdul Latif Rashid, and the Prime Minister, Muhammad Shiaa Al-Sudani, discussed this evening, Tuesday, (March 19, 2024), the general situation in the country, and the importance of unifying efforts to support the government was emphasized .

A statement from the Prime Minister’s Office received by “Baghdad Today” stated that “Al-Sudani met with Rashid, and during the meeting, they discussed the political, security, economic, living and service conditions in the country, and Iraq’s relations with its regional and international surroundings, in addition to the relationship between the federal government and the Kurdistan Regional Government of Iraq.” ".

The statement added, "The importance of unifying efforts to support the government in implementing its program and providing the best services to citizens, returning the displaced to their areas of origin, completing the process of closing the camps permanently, within the period specified by the government, and continuing joint work in order to complete constitutional entitlements."

The meeting touched on "the joint final statement between the Republic of Iraq and the Republic of Turkey, and its positive repercussions on strengthening bilateral relations and consolidating security and stability in the region."   LINK

Provoking Points to Ponder on Decisions 

Full maturity ... is achieved by realizing that you have choices to make.  - Angela Barron McBride

Wherever you see a successful business, someone once made a courageous decision.  - Peter Drucker

Life is just a series of trying to make up your mind.  - Timothy Fuller

Life is just an endless chain of judgements. . . . The more imperfect our judgement, the less perfect our success.  - B. C. Forbes

To know just what has do be done, then to do it, comprises the whole philosophy of practical life. - Sir William Osier

Life is like a game of cards. The hand that is dealt you represents determinism; the way you play it is free will.  - Jawaharlal Nehru

Somehow we learn who we really are and then live with that decision.  - Eleanor Roosevelt

Living is a constant process of deciding what we are going to do.  - Jose Ortega

http://famousquotesandauthors.com/quotes_by_topic.html

"Tidbits From TNT" Wednesday Morning 3-20-2024

TNT:

Tishwash:  Officially... Iraq joins the membership of the European Bank for Reconstruction and Development

The Iraqi Fund for External Development in the Ministry of Finance announced today, Wednesday, that the Republic of Iraq has joined the membership of the European Bank for Reconstruction and Development (EBRD) after the House of Representatives approved the accession law.

The Fund said in a statement received by Al-Eqtisad News, “The Republic of Iraq has joined the membership of the European Bank for Reconstruction and Development (EBRD) after the House of Representatives approved the accession law, which comes within the Ministry’s vision of strengthening frameworks of cooperation and communication between Iraq and international financial institutions.” “After the Fund’s continuous coordination with the European Bank’s management, the completion of Iraq’s contribution process, and the completion of all documents related to accession.”

He added, "Joining will enable the European Bank to finance projects within the country, promote development for various sectors, support the entrepreneurship initiative, and support the private sector through investments and participation in policy dialogue and technical assistance," pointing out that "the European Bank for Reconstruction and Development (EBRD) is a multi-faceted development bank."

Parties, headquartered in London, the bank focuses on investment as a tool to rebuild market economies in beneficiary countries, with an emphasis on supporting the private sector and its investments in advisory and political activities. The bank also helps countries develop their policies to promote energy self-sufficiency or renewable energy markets    link

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

CandyKisses:  92nd in the world. Iraq ranks seventh in the Arab world in the happiness index

Baghdad Today - Follow-up

Finland continued to top the list of the World Happiness Index for the seventh consecutive year, while Iraq ranked 92nd globally and seventh in the Arab world, according to the report issued under the auspices of the United Nations.

This year's report covers 143 countries, which are categorized by several factors, including GDP per capita, healthy life expectancy, and the opinions of the population.

The researchers rely on surveys that ask respondents to answer a progressive scale of 1 to 10 on how much social support they feel in the event of a problem, their freedom to make decisions related to their own lives, their sense of how widespread corruption is in their communities, and how generous they are.

For the first time, this year's report included different classifications according to age groups, for example, Lithuania was the happiest country in the world for the age group under 30, while Denmark was at the top of the list in terms of those over 60.

Overall, Finland came first, followed by Denmark, Iceland, Sweden, Israel, the Netherlands, Norway, Luxembourg and Switzerland.

Afghanistan was at the bottom of the list, preceded by Lebanon, Lesotho and Sierra Leone.

At the Arab level, Kuwait ranked 13th globally, followed by the UAE in 22nd place, Saudi Arabia 28th, Bahrain 62nd, Libya 66th, Algeria 85th, Iraq 92nd and Palestinian Territories 103rd.

Morocco 107th, Mauritania 111th, Tunisia 115th, Jordan 125th, Egypt 127th, Comoros 132nd, Yemen 133rd and Lebanon 142nd, respectively.

First launched in 2012, the World Happiness Report is an annual survey conducted by the United Nations' Sustainable Development Solutions Network.

************
CandyKisses: Ramadan and the salary crisis and floods. Nowruz holidays with a different flavor in Kurdistan - urgent

Baghdad Today - Kurdistan

Nowruz holidays in the Kurdistan region come with a different approach this year as a result of the size of the challenges faced by families in those areas, and despite the fact that Nowruz coincided this year with the blessed month of Ramadan and the crisis of delayed salaries of the region's employees

And what made matters worse was the wave of floods that occurred during the past two days, but local administrations in the governorates of the Kurdistan region decided to celebrate by lighting the Nowruz flame and going out in a number of streets, after the time of breaking the fast.

Nowruz is the Kurdish New Year, and the Kurds celebrate it in all the countries in which they are present by going out to the resorts and mountainous areas, but coinciding this year with the blessed month of Ramadan, as well as the financial crisis and the Wave of floods in the cities of the country, may make this occasion another reality.

The organizing committee of the celebrations in Sulaymaniyah announced the closure of the main Salem Street in central Sulaymaniyah and the start of Nowruz celebrations within activities interspersed with performances of Kurdish folklore, costumes, dabkat and Kurdish songs.

The Erbil Municipality, for its part, announced that preparations are underway for the Nowruz torch lighting ceremony on Erbil Citadel.

The municipality of Erbil said in a statement received by "Baghdad Today", that "its teams in the Directorate of Engineering of Erbil Gardens, this morning in a civilized manner and beautiful design standards for the ceremony of lighting the fire of Nowruz as a symbol of the National Day."

A number of citizens say that they will celebrate with their families despite the crises they are suffering from, as they have not been able to fully prepare for this occasion.

Behzad Salam, an employee in Sulaymaniyah, told Baghdad Today that he has not received his salary for 50 days, and although we are in Ramadan month, therefore in this crisis we will not be able to buy clothes for our children nor prepare optimally.

As for Nujeen Ahmed, he pointed out to "Baghdad Today", "Nowruz this year will not have a taste for several reasons, the first of which is the financial crisis, and secondly, we are used to going out to the streets and wearing Kurdish clothes that are sewn on these occasions, and on the 21st we go out with our families to the resorts and mountainous areas, " adding that "but this year we miss these things, because of the salary crisis and the coinciding of Nowruz with Ramadan "

But other families will go out to celebrate despite all the crises and circumstances that the Kurds are experiencing, but they will not miss this occasion, which is considered a national holiday for them.

Hevar Mustafa, a social researcher and academic at the University of Sulaymaniyah, stressed that Nowruz is one of the occasions that the Kurds cherish, and it is not an ordinary day, and therefore there is reverence for this occasion and national pride in it.

She pointed out in her speech to "Baghdad Today", that "the celebration this year will not be like previous years, but there are traditions, including lighting the candle of Nowruz, which expresses the liberation and revolutionary spirit of the Kurds in fighting tyranny and the injustice that they faced over different times

Mot: ........ Coming to a Driveway near you!

Mot . ARE YOUUUUUUUUUU READY!!!!!

Iraq Economic News and Points to Ponder Late Tuesday Evening 3-19-24

Iraq Economic News and Points to Ponder Late Tuesday Evening 3-19-24

Tlm724 Administrator Bondlady’s Corner

Revealing The Reason For The Persistence Of The Gap In The Dollar Exchange Rate Between The Official And The Parallel

Time: 03/19/2024 Read: 3,549 times  {Economic: Al-Furat News} An economic expert attributed the persistence of the price gap between the dollar and dinar exchange rates to “illegal trade.”

Nabil Al-Marsoumi told {Al-Furat News} agency, “Illegal trade with sanctioned countries is the main reason for the gap between the official price of the dollar and the parallel price, as it is difficult to cut off trade with neighboring countries such as Syria, Iran, and others like Russia, because they cover a large part of the market, especially with regard to goods.” and Iranian goods.

He added, "We expect the exchange rate to stabilize at these rates, and if the United States reconsiders and eases the sanctions, the price gap will decrease slightly now. It will not disappear."

It is noteworthy that the Central Bank of Iraq sells the dollar at the official rate of 1,320 dinars, while it reaches the “parallel” black market at a rate of 1,500 dinars.   LINK

Decline In Oil Prices In Global Markets 

Tuesday 19, March 2024 | Economical Number of readings: 432  Baghdad / NINA / Oil prices fell in today’s trading, Tuesday, after recording in yesterday’s session, Monday, the highest level since the beginning of last November.

US West Texas Intermediate crude futures were traded at $82.56 per barrel, a decrease of 0.19% from the previous settlement price. Meanwhile, global Brent crude futures were traded at $86.70 per barrel, a decrease of 0.22% from the previous closing price.

Today's decline came after a noticeable rise in crude prices in yesterday's trading, as Brent crude contracts rose by 1.8% to $86.89 per barrel, and US crude contracts rose by 1.95% to $82.16 per barrel./End    https://ninanews.com/Website/News/Details?key=1113698

Central Bank Transfers Outside Iraq Recorded $245 Million

 Money  and business  Economy News – Baghdad  Foreign remittance sales rose at the Central Bank of Iraq auction, today, Tuesday, to record $245 million.

Today, during its auction for buying and selling the US dollar, the Central Bank sold 245 million, 622 thousand and 724 dollars, which the bank covered at a base exchange rate of 1,305 dinars, per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for external transfers, and at the same price in cash.

Most of the bank's dollar sales went to strengthen balances abroad in the form of (transfers, credits), which amounted to 226 million, 922,724 thousand dollars, an increase of 92%, compared to cash sales of 18 million, 630 thousand dollars.

The number of banks that purchased cash dollars reached 6 banks, while the number of banks that responded to requests to enhance balances abroad reached 17 banks, while the total number of exchange and brokerage companies participating in the auction was 135 companies.

Yesterday, Monday, sales of foreign remittances at the Central Bank of Iraq auction recorded $221 million.    Views 89 03/19/2024 - https://economy-news.net/content.php?id=41645

"Al-Eqtisad News" Publishes The Full Decisions Of The Council Of Ministers Session

Economy News – Baghdad  Al-Eqtisad News publishes the full decisions of the twelfth regular Council of Ministers session held today, Tuesday, the most important of which was obligating the Ministry of Finance to pay the dues owed to an Iraqi bank by Kurdistan, provided that they are deducted from the region’s allocations.

The Prime Minister’s media office said in a statement, seen by Al-Iqtisad News, that “Prime Minister, Mr. Muhammad Shiaa Al-Sudani, chaired, today, Tuesday, the twelfth regular session of the Council of Ministers, in which the general situation in the country was discussed, and the most important service files were reviewed.” economic, and to deliberate on the issues on the agenda and take the necessary decisions thereon.”

The statement added, “In the field of energy, the Council voted on the following:

1. Approval to authorize the Minister of Finance, or whomever she authorizes, to sign with the relevant authorities an amendment to the loan agreement for financing the 400 kV Babylon station rehabilitation project, which is financed by the Swedish loan with JPM Bank.

2. Approval of the financing terms for the loan according to the Ministry of Finance’s letter dated February 25, 2024.

He explained, “Based on the government’s priorities, which focused on administrative reform, the Council voted on the following:

1- Approval of the controls regulating the dealings of beneficiary entities with letters of guarantee issued in their favor, taking into account the observations of the Ministerial Council for the Economy confirmed by its letter dated January 14, 2024, amending Article (17) of the aforementioned controls, according to what is stated in the department’s memorandum. Legal of the General Secretariat of the Council of Ministers, dated March 14, 2023.

2- Agreeing to accept a certified instrument or a letter of guarantee, taking into account the validity period of the certified instrument, and the beneficiary party must renew it before it becomes effective until the need no longer exists, in accordance with the rules.

The statement indicated, “Within the path of financial and banking reform, the Council issued a decision obliging the Federal Ministry of Finance to pay the dues of the Trade Bank of Iraq/TBI, due from the Kurdistan region of Iraq, in annual monthly installments for the years (2023, 2024) at a rate of (636) billion dinars for each year.” It will be deducted from the region’s allocations for the year 2024, and will be deducted later.”

He continued, "The session witnessed the approval of recommendations regarding settlement procedures for foreign claims, in accordance with Cabinet Resolutions 28 of 2014 and 48 of 2018, as follows:

1. Make an amendment to paragraphs (1 and 2) of Cabinet Resolution 28 of 2014 as follows:

a. Amend paragraph (1) to become: Authorizing ministries and entities not affiliated with a ministry with the authority to negotiate with creditor companies that have a final court ruling, and which have seized the funds of Iraqi government institutions abroad, or have not seized in their consensual settlement, at a rate less than the principal of the debt without interest,

While giving it preference in contracting with state departments in one of the government projects or contracts in exchange for the creditor party dropping the entire amount of the debt and its interests, and invalidating the lawsuit filed.

B. Amending paragraph (2) to read: Negotiating and negotiating committees shall be conducted by the relevant authorities under the supervision of the Ministry of Justice. It is exclusively concerned with following up on foreign lawsuits, and each case is presented individually to the Council of Ministers for approval.

C. Continued implementation of Cabinet Resolution No. 48 of 2018.

2. Taking into consideration the opinion of the Legal Department in the General Secretariat of the Council of Ministers.

The statement continued, "The session included approval of the following:

First: Cancellation of the recommendations of the sixth meeting of the Chinese Framework Agreement issued by Cabinet Resolution (24006 of 2024).

Second: Cancellation of the Council of Ministers’ decision (24059 of 2024) regarding the completion of the new Nasiriyah warehouse and model school buildings, funded by the Chinese agreement.

Third: Approving the projects approved by Cabinet Resolution (24130 of 2023), with an annual allocation of (7059) billion dinars, instead of (7137) billion dinars, signed by the committee.

The following was also voted on during the session:

1. Deletion of the project (constructing an international stadium in the center of Nineveh Governorate at a cost of (22,813,000,000 dinars), based on the technical reports issued by the advisory office, affiliated with the College of Engineering at Al-Mustansiriya University, which includes the recommendation to completely remove the structure with the foundations, as well as the recommendation of the advisory body / Advisor to the Governor for Technical Affairs, adopting the opinion of the Advisory Office of Al-Mustansiriya University, to demolish and completely remove the foundations, taking into account the amounts spent on the aforementioned project and the amounts of work completion, and transferring the amounts of the deposits to the project account after its deletion, according to the controls and instructions issued by the Ministry of Planning.

2. Considering the request to include the project to establish the Nineveh Central Stadium with a closed sports hall on the right side of Mosul in a turnkey manner, within the governorate’s projects for the year 2023 (amended Schedule E) specified in the Federal General Budget Law (13 of 2023), for a total amount of (36,200). 000,000 dinars) after completing all relevant listing requirements.

3. Nineveh Governorate bears full responsibility for the truth and accuracy of the information submitted to the Ministry of Planning.

He pointed out that "with regard to the contract concluded with the Turkish company Tarmash for the school buildings project, the Council issued a decision approving the acceptance of the letter of guarantee previously submitted to the Ministry of Industry and Minerals, for the same contract outside the electronic platform for the letter of guarantee, until the company has financial liquidity that enables it to return Letter of guarantee, within the electronic platform.

The Council also issued a decision approving the Ministry of Finance’s contract with the Scientific Consulting Office at the Ministry of Higher Education and Scientific Research/University of Baghdad/College of Science. To complete the system for modernizing public financial management systems (IFMIS), as an exception to the instructions for implementing government contracts (2 of 2014).

The statement explained, “The sale of residential plots of land starting from the property numbered (45373 to 49551 AD/21 Haidariyah) was approved for sale, amounting to (4176) plots, separated from the area of ​​the two plots of land numbered (42062/1, and 42063/1), district (21). )

Haidariyah, to employees of the General Secretariat of the Holy Shrine of Hussein, as an exception to the public bidding procedures, and based on the provisions of the Law on the Sale and Rent of State Funds No. (21) of 2013, as amended, and replacing it with a lottery system, according to the controls of those who are not beneficiaries of the Council of Ministers’ Resolution (20 of the year 2019), taking into account Articles (4 and 15/First/A) of the aforementioned Law on the Sale and Rent of State Funds.”

Within the framework of organizing union work, the recommendation of the Ministerial Council for Human Development (24004 B) of 2024 was approved, which includes obligating the Engineers Syndicate to address the issue of registering engineering colleges and departments and accrediting them in the Engineers Syndicate.

The Council agreed to authorize the Director General of the General Tax Authority to negotiate and initial a draft agreement to avoid double taxation and prevent evasion of taxes imposed on income and capital between the Government of the Republic of Iraq and the Government of the Republic of Latvia, based on the provisions of the Constitution, and to authorize the Minister of Finance to negotiate. And the final signature on the above project.”

He continued, "The draft law on the Republic of Iraq's ratification of the air services agreement between the government of the Republic of Iraq and the government of the Republic of Azerbaijan was approved and referred to the House of Representatives, based on the provisions of the constitution."

Views 73   Added 03/19/2024 - https://economy-news.net/content.php?id=41657

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

Provoking Points to Ponder on Decisions 

 We have resolved to endure the unendurable and suffer what is insufferable.  - Emperor Hirohito

Once a decision was made, I did not worry about it afterward.  - Harry S. Truman

No country can act wisely simultaneously in every part of the globe at every moment of time.  - Henry Kissinger

The last, if not the greatest, of the human freedoms: to choose their own attitude in any given circumstance.  - Bruno Bettelheim

He who has a choice has trouble.  - Dutch proverb

http://famousquotesandauthors.com/quotes_by_topic.html                                   

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