"Tidbits From TNT" Wednesday Morning 4-10-2024

TNT:

CandyKisses:  Al-Khazali: There should be no complacency on the issue of the withdrawal of foreign and US forces from Iraq

Shafaq News / The Secretary-General of the "Asaib Ahl al-Haq" Qais al-Khazali, on Wednesday, stressed the need not to tolerate the exit of all foreign forces, including the United States, from Iraqi territory, as the success of the visit of Prime Minister Muhammad Shia Al-Sudani to the United States of America depends on this exit.

Khazali said in his Eid prayer sermon among a gathering of worshipers in Baghdad, that "the issue of the exit of foreign forces, especially the US forces, is a fundamental and strategic importance that must not be tolerated," adding that "this presence is illegal and illegitimate."

He added that "there are some politicians who defend the foreign presence and they only represent themselves," adding that the position of Prime Minister Mohammed Shia al-Sudani and the framework and the Iraqi resistance is clear in not agreeing to the survival of this illegal and illegal presence.

Khazali stressed that "there is no room for the survival of these forces," addressing them, "and if you do not preach and understand this message, then the full justification to resist this illegal and illegal presence in all ways, foremost of which are military operations," stressing that "the American exit is inevitable."

Tishwash:  Details of a “new” meeting to end the international coalition’s mission in Iraq

The spokesman for the Commander-in-Chief of the Armed Forces, Major General Yahya Rasoul, announced this evening, Tuesday, the details of the meeting of the Supreme Military Committee of the International Coalition in Iraq.

Rasoul said in a statement, received by Al-Youm Al-Akhbariya, that “yesterday, the eighth of this month of April, in the capital, Baghdad, the Iraqi Supreme Military Committee held a meeting with the Supreme Military Committee of the International Coalition in Iraq, and the two committees are concerned with ending the mission of the International Coalition in Iraq.” 

He added, "During the meeting, the work of the subcommittees was discussed since their launch in January 2024, and the assessment of the threat of ISIS terrorist gangs, the operational environment, the current security situation, and the capabilities of the Iraqi security forces." 

According to Rasoul, members of the two military committees praised “the achievements and sacrifices made in the battles to defeat ISIS, and the continuing efforts to prevent the return of these terrorist gangs, as well as supporting Iraq’s sovereignty, unity, and stability.” 

The spokesman for the Commander-in-Chief indicated that the two sides “confirmed the capabilities and capabilities of the Iraqi security forces to defeat ISIS, and they also confirmed that the subcommittees will continue their work to present evaluations to the Supreme Military Committee to submit recommendations in order to make a decision regarding the timetable for the transfer of the international coalition in Iraq to... Establishing a bilateral security partnership between Iraq and the United States, which contributes to raising the capabilities of the Iraqi security forces and working to develop them, which enhances the stability and security of Iraq and the region.”   link

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Tishwash:  Al-Khazali calls for Iraq's freedom to dispose of dollars: America is not kind to us and this is our money

The Secretary-General of the "Asa'ib Ahl al-Haq" group, Qais Al-Khazali, on Wednesday called on Prime Minister Muhammad Shia'a Al-Sudani to emphasize the issue of Iraq's freedom to dispose of its US dollar funds during his upcoming visit to the United States of America.

Al-Khazali said in an Eid prayer sermon that he delivered to a gathering of worshipers in Baghdad, “The issue of economic sovereignty, and Iraq’s ownership of its decision-making and sovereignty regarding its disposal of its US dollar funds, is important and complex.”

He added, "America is not favoring us, and this is our money," stressing the importance of "Iraq having the freedom to dispose of this money according to its interests."

Al-Khazali continued by saying, “Iraq has demonstrated - despite the unfair, unrealistic and exaggerated conditions set by the US Treasury on disposing of the dollar - great compliance with these conditions,” considering that the United States is trying “to exploit the economic card to maintain the current military status of its forces in Iraq, and this is what we do not accept.” link

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Tishwash:  Eid morning in Iraq...stability, security, and long queues at the “Al-Kaahi and Al-Qaymar”

Iraqis live the atmosphere of Eid al-Fitr in a completely stable and safe atmosphere, and while millions of Muslims performed Eid prayers in mosques and Husseiniyas, they were keen to eat the most famous “ryok” dish after the month of fasting, “kahi and qaymar.”

Most of Baghdad's streets were characterized by calm and lack of traffic on the morning of Eid, while many popular restaurant areas witnessed crowding with thousands of citizens who rushed to buy Iraqi ryokan supplies.

Today is the first day of Eid al-Fitr, and most Islamic countries and religious authorities have agreed that today, Wednesday, is the first of Shawwal.

Prime Minister Muhammad Shiaa Al-Sudani met with a number of citizens in the center of the capital, Baghdad, on the eve of Eid Al-Fitr  .

The Prime Minister’s Media Office stated in a statement, “Prime Minister Muhammad Shiaa Al-Sudani conducted a field tour in the center of the capital, Baghdad, in which he met a number of Iraqi families on the eve of Eid Al-Fitr, where he offered his best congratulations to the citizens on this happy occasion, asking God Almighty to "He will bring it back to the Iraqis with Yemen, goodness, love and stability."

According to the statement, the Prime Minister listened to "the opinions of citizens regarding the service projects implemented and others being implemented in Baghdad, where they expressed their support for the current government efforts, and their aspiration towards more work and achievements that meet the demands and needs of citizens, and advance the country for the better link

Mot: ... Poor Kid! -- Maybe Next Year!!

Mot: New Body Wash

Goldilocks' Comments and Global Economic Tuesday Evening 4-9-24

 Goldilocks' Comments and Global Economic Tuesday Evening 4-9-24

Good Evening Dinar Recaps,

"Credit valuation adjustment is a change to the market value of derivative instruments to account for counterparty credit risk. It represents the discount to the standard derivative value that a buyer would offer after taking into account the possibility of a counterparty's default."

With so many companies and countries going into bankruptcy these days, I have to look at credit valuation adjustments in order to make some of my trades.

Foreign currency is a part of the Derivatives Market. I will know when these actual changes take place. Risk

© Goldilocks

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"This bank, on behalf of the Ministry of Finance, will offer bonds under the name ( Injaz Bonds ) to the public starting from 4/15/2024 until 5 / 15 / 2024"

Public bonds help to build the infrastructure of a country's businesses, and they go a long way in supporting a country's currency.

Getting public involvement in increasing the value of their own currency will help Iraq maintain a sustainable economy going forward.

Public bonds like these help to establish and secure a country's Sovereignty. This is a part of the process of Iraq reclassifying their currency.

Not long ago the CBI revealed to us that it would begin March 31st, 2024. They said it would be a gradual change. I copied the article for your review again on this matter.

"Based on the of the Board of Directors of this Bank number (191) of 2003 it was decided to give the mediation companies buying and selling foreign currencies under category (C) a period of time to merge to be classified as (A) or (b) until 3-31-24."   CBI   IMF

© Goldilocks

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"The HKMA has been researching CBDCs since 2017 to understand their benefits and potential applications. As part of the “Fintech 2025” strategy announced in 2021, the HKMA has placed increased emphasis on strengthening its research work to increase Hong Kong’s readiness in issuing CBDCs at both wholesale and retail levels."

Hong Kong is currently exploring industry standards for their digital money. They are currently on Phase 2 of HKMA's e-HKD testing initiative.

Currently, Hong Kong is in process of developing standards on their ability to exchange information through smart contract designs. A smart contract ensures money is available on both sides of a trade.

These new mechanisms and protocols include sensitive and private information that needs to be protected on the retail side of a transaction.   HKMA

© Goldilocks

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"Bitcoin halving countdown: Crypto expert discusses opportunities and challenges" | Investing
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Ripple CEO: Crypto market to double in size to $5 trillion in 2024 | CNBC

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Bitcoin and Ripple. Pairing the assets together. What? Not going to zero now.  MacroAxis  AvaTrade

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China is about to enable currency swap with 29 other countries and they will use their local currency instead of the US dollar. | Reuters

👆  Goldilocks pointed to this article

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[I uploaded the following pds attached to this email  - If they are easily uploaded - please add otherwise just leave them off.  I added the link to the room if they want to see them. Please delete this  message] 

 Goldilocks posted 5 pdfs in their telegram room today:

1.  Final_Report_on_certain_technical_standards_under_MiCA_First_Package

https://t.me/c/1545617426/76381

👆MICA DRAFT REPORT

CLICK HERE

2. MiCA_Consultation_Paper_-_RTS_market_abuse_and_GLs_on_investor_protection_and_operational_resilience

https://t.me/c/1545617426/76383

👆MICA CONSULTATION PAPER

CLICK HERE

3. openFile.pdf

https://t.me/c/1545617426/76385

CLICK HERE

👆In line with the Group of 20 (G20) commitment to reform over-the-counter (OTC) derivatives markets, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) have been working with the Government of the Hong Kong Special Administrative Region and relevant stakeholders on implementing a regulatory regime for the OTC derivatives market in Hong Kong.  OTC derivatives reporting is an important component of the OTC derivatives regulatory regime.
 
We have implemented two phases of mandatory reporting, covering OTC derivatives
transactions in five key asset classes — interest rates, foreign exchange, credit, commodities and equities. The use of Legal Entity Identifier (LEI) has also been mandated and is applicable to all entities on the reporting entity’s side of a transaction.

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4.  20240322e3a1.pdf
https://t.me/c/1545617426/76389

CLICK HERE

👆Hong Kong is currently working on their reporting measures for their over-the-counter derivatives (OTC) Market that includes foreign currency exchanges.

© Goldilocks

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5.  ESMA74-2119945925-1959_Feedback_statement_of_the_Call_for_evidence_on_shortening_the_settlement_cycle.pdf        https://t.me/c/1545617426/76390

CLICK HERE

👆EU shortening the settlement cycle.

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👆The above PDFs give you an idea of how Global Regulatory guidelines are in process of being reviewed and working towards implementation by the end of May.

These drafts will be reviewed and updated for new Protocols in the Banking and Market system.

© Goldilocks

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Treasury Secretary Janet Yellen wrapped up four-day trip to Beijing without much to show for it, acknowledging an unsure future for relations between the U.S. and China.

After a series of economic meetings, it was at least agreed that more communication would take place.

"There is much more work to do," Ms. Yellen said at a Monday news conference. "And it remains unclear what this relationship will endure in the months and years ahead."   Fox Business

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UK's FCA and Bank of England launch consultation for Digital Securities Sandbox - FinTech Futures: Fintech news    Bank of England
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What Jamie Dimon Said about Long-Term Inflation, Fed Interest Rates (“2% to 8% or even more”), and QE/QT (it’s Risky) | Wolf Street

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TSMC to make state-of-the-art chips in US after multibillion subsidy pledge | Technology sector | The Guardian

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Gold is rapidly becoming the World Reserve Asset.

© Goldilocks

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Gold. Tradable foreign currencies, such as the USD or euro (EUR). Special drawing rights (SDRs) to obtain foreign exchange or reserve assets from IMF members.   Jan 8, 2024 | Investopdia

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XRP: The best 21 minutes of your life is contained inside this video...

It just came out today. Something many of us have known for a long time.

It will change your life.  |  Youtube
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Lummis: Crypto Will Erupt as Big Issue in U.S. Senate Races Including Banking Chair Brown's | CoinDesk

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Stablecoins Are Seeing Adoption as a Cross-Border Settlement Mechanism: Bernstein | CoinDesk via @coindesk

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Gold rallies to new records on worldwide tensions, central bank buying | Axios

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Iraq Economic News and Points to Ponder Tuesday Afternoon 4-8-24

Iraq Economic News and Points to Ponder Tuesday Afternoon 4-8-24

Tlm724 Administrator Bondlady’s Corner

What Is The Economic Feasibility? An American Website Monitors The Flow Of Billions Of Gulf Dollars Towards Iraq
 
Economy     Iraq     breaking     Gulf investments  2024-04-07 07:09
 
Shafaq News/ Al-Hurra website highlighted the trend of Gulf funds towards investing in various Iraqi sectors during the past two years, indicating that this trend raises many questions about its economic feasibility.  The website mentioned in a report seen by Shafaq News Agency:
 
Gulf capital has been going to Iraq at an accelerated pace over the past two years, which reflects the attractiveness of Baghdad as a new investment destination for the Gulf Cooperation Council countries.
 
After decades in which Iraq suffered from the scourge of wars and internal violence, Saudi Arabia, Qatar and the UAE entered forcefully through massive economic investments in a country where Iran was able to gain a foothold after the fall of Saddam Hussein's regime in 2003.
 
Last Friday, the Iraqi Ministry of Planning announced the signing of 12 memorandums of understanding with Saudi Arabia for “specific investment projects,” according to a statement received by Shafaq News Agency.
 
The ministry said that the signed memorandums of understanding "came with the aim of enhancing cooperation in a number of qualitative investment projects in Iraq."

Financial And Political Returns
 
But this great Gulf demand for Iraq opens the door to questions about the economic feasibility of these huge investments in a country that has suffered from political and security instability over the past years.
 
Analysts who spoke to the Al-Hurra channel website believe that Iraq has promising investment opportunities that enable the GCC countries to achieve financial and political returns from these projects that flowed in various fields.
 
Middle East Policy Research Fellow at the International Institute for Strategic Studies, Hassan Al-Hassan, told Al-Hurra website that
 
“Gulf countries often use investments as a tool to achieve financial and political returns at the same time.” He added,
 
"Through their increasing investments in the energy and real estate sectors in Iraq, the Gulf states are seeking to benefit economically from the developing Iraqi market and expand their influence in Baghdad to compete with Iranian influence."
 
The Iraqi government is looking forward to attracting more investments from countries in the region with the aim of treating the country's economy, which has been damaged by decades of wars and unrest, according to Reuters.
 
In this context, Ihsan Al-Shammari, professor of public policy at the University of Baghdad, said that
 
“Iraq is a fertile land for foreign investment,” especially in light of a significant decline in the investment sector, which was affected by several factors, including security unrest, internal violence, and the war against ISIS, according to the report. His expression.
 
Speaking to Al-Hurra website, Al-Shammari continued, saying:
 
“Iraq has great investment opportunities, and these are most of the proposals of Iraqi officials during foreign visits, because the state needs the entry of foreign investment companies at all levels of public life.”
 
The Gulf states withdrew from Iraq after their invasion of its neighbor, Kuwait, in 1990, and this continued until the past few years, before relations gradually improved significantly during the era of the former Iraqi Prime Minister, Mustafa Al-Kadhimi, specifically after he moved in the Gulf capitals.

Billion investments
 
In 2022, the Saudi sovereign wealth fund announced the establishment of a new company with a capital of $3 billion to invest in Iraq, which is part of a Saudi program to invest in 5 Arab countries.
 
These investments cover various fields, including infrastructure, mining, agriculture, real estate development, and financial services.
 
The UAE, which recently strengthened its investments in Iraq, said that it is “keen” to strengthen its strategic partnerships with Baghdad “in all fields.”
 
Thani Al-Zeyoudi, who holds the position of Minister of State for Foreign Trade in the Emirates, said:
“There is a mutual keenness to develop economic relations in a way that serves common interests and provides more opportunities for the business communities and the private sector in both the Emirates and Iraq, which was reflected positively in the trade data.” Non-oil infrastructure and mutual investment flows,” the official Emirates News Agency (WAM) reported.
 
In 2021, Abu Dhabi announced the pumping of investments worth $3 billion into Iraq as part of “a new effort to strengthen economic and investment relations between the two brotherly countries,” according to a joint statement issued by the two countries.
 
For its part, Qatari funds flowed into Iraq after a visit by the Emir of the country, Sheikh Tamim bin Hamad Al Thani, to Baghdad in June 2023.
 
Hours after that trip, 3 Qatari companies and the Iraqi National Investment Authority agreed to develop projects worth $9.5 billion in Iraq, including building two electricity generating plants with a total capacity of 2,400 megawatts, according to Reuters.
 
In July 2023, Qatar entered into a huge deal launched by Iraq with Total Energy Company, worth $10 billion, in a project aimed at generating electricity from solar energy and gas burned in oil fields.
 
Visiting fellow at the European Council on Foreign Relations, Hamza Haddad, who follows Gulf investments in Baghdad, believes that there is “political acceptance” on both sides to pump this money.
 
Haddad told Al-Hurra website that the Gulf countries, for their part, finally accepted the idea of ​​the Iraqi Shiite political system that was formed after 2003, adding that
 
"the Sunnis and Kurds (inside the country) also accepted that and are dealing with it." He explained that
 
these factors contributed to achieving internal security stability in Iraq, which reflected on it as an attractive destination for Gulf investments, especially since the country has a large population.

Competition with Iran
 
Iraq suffers from dilapidated basic infrastructure and rampant corruption throughout the country, which has a population of 43 million people, a large segment of whom live below the poverty line.
 
Iraq is ranked 154th among 180 countries suffering from corruption in the world during the year 2023, after advancing 6 places compared to 2022, according to a report issued annually by Transparency International.
 
According to the United Nations, a third of Iraqis live below the poverty line despite their country's large oil resources, which have membership in the Organization of the Petroleum Exporting Countries (OPEC).
 
In this regard, the Saudi writer and political analyst, Saad Al-Hamid, said,
 
“The influx of Gulf capital into Iraq came after suffering from the interference of neighboring countries inside Iraq, which affected the economic and development situation there.” He continued his speech to the Al-Hurra website that
 
 “any economic success must come through a stable political situation,” noting that
 
“in light of the relative stability in Iraq now, there are many qualitative opportunities that benefit from Saudi Arabia and the Gulf Cooperation Council countries.”
 
Also, Saudi Arabia is looking forward to achieving a good climate for investment in neighboring countries so that it is reflected throughout the region, which will also help Riyadh achieve the outcomes of the Kingdom’s Vision 2030, according to Al-Hamid.
 
Al-Hamid also said that through these investments, which amount to billions of dollars,
 
“the Arab Gulf states are trying to a great extent to restore Iraq to its normal state and stop Iranian interference inside Iraq,” especially in light of the good relations between Tehran and Riyadh now, he said.
 
Al-Shammari goes in a similar direction, saying that
 
these Gulf investments are “part of the competition for Iranian political and economic expansion in Iraq.”
 
Economically, Baghdad depends on Tehran to import a third of its natural gas needs to operate various power plants in the country, which is considered unable to achieve self-sufficiency in the field of energy. Haddad cited
 
Doha's entry into the huge Total Energy deal as evidence of the Gulf's desire to invest in Iraq, especially since Baghdad "burns the same amount it buys from Iran in its fields," he said.

(He said that  this deal "reduces Iranian pressure (on Iraq) regarding its threats to cut off gas supplies."

Gulf “Ocean Insurance”.
 
But the extent to which the Gulf states are able to compete with Iranian influence politically and economically is still unclear, given that these investments are in their infancy.
 
Al-Shammari, who is also head of the Center for Political Thinking in Baghdad, believes that the
 
Gulf states' ability to influence Iraqi policies "will be gradual, not direct." He continued by saying that
 
"some of the parties in charge of the political decision still have a different vision, which may be the continuation of Iranian influence at the expense of returning to the Arab environment," adding that
 
investments "will gradually affect when governments change and the influence of Iran's allies inside Iraq weakens." Here, Al-Hassan pointed out that
 
"the spread of deep Iranian influence in Iraq hinders the attempts of the Gulf states to change the balance of power." However, he said that the
 
Gulf states "cannot completely abandon their efforts to find a state of closer rapprochement with Iraq economically and politically in order to secure their strategic surroundings."   
 
https://www.shafaq.com/ar/اقتصـاد/ما-الجدوى-الاقتصادية-موقع-امريكي-يرصد-تدفق-مليارات-الدولارات-الخليجية-نحو-العراق
 

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

Provoking Points To Ponder On Failures and Mistakes

The man who can own up to his error is greater than he who merely knows how to avoid making it.- Cardinal de Retz

A man may fall many times, but he won't be a failure until he says that someone pushed him.- Elmer G. Letterman

Do not be afraid of mistakes, providing you do not make the same one twice.- Eleanor Roosevelt

To stumble twice against the same stone is a proverbial disgrace.- Cicero

Fool me once, shame on you; fool me twice, shame on me.- Chinese proverb

There is no reason to repeat bad history.- Eleanor Holmes Norton

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

http://famousquotesandauthors.com/quotes_by_topic.html

Zig’s Place Chatroom Tuesday AM 3-9-24

Zig’s Place Chatroom Tuesday AM 3-9-24

NORV   great article the other day..this is big news...

NORV   Advisor to the Association of Banks: The Central Bank is following a consistent approach to achieving banking reform

NORV   Economy News _ Baghdad

Advisor to the Association of Iraqi Private Banks, Samir Al-Nusairi, explained today, Wednesday, that the Central Bank is following a consistent approach to implementing its strategy for banking reform, with the cooperation and support of the Prime Minister and the government, as the management of the Central Bank of Iraq plans to gradually cancel the window for selling foreign currency during the year 2024, until it leaves it completely.

NORV   "the management of the Central Bank of Iraq plans to gradually cancel the window for selling foreign currency during the year 2024, until it leaves it completely."

NORV   this is huge news

 NORV   Iraq cannot end the auctions unless they have an alternative to the auctions. which means they plan to float the dinar by the end of the year.

NORV   The reason if two fold, the auctions provide the method the maintain stability with the dinar to the dollar.

NORV   the auctions provide a source of dollars to pay for imports

 NORV   with either of these, the dinar exchange rate could get out of control

NORV   and they would not be able to pay for goods outside Iraq.

NORV   That is why they will float the dinar. floating the dinar will give them a new mechanism to maintain the dinar, the CBI will buying and sell blocks of dinar like other central banks do to maintain their currency.

NORV   They will also have to use dinar to pay for goods and services which will make the dinar internationally traded

NORV   These are all steps that other central banks currently use. so the CBI is trying to become a big boy with the world.

NORV   Here is another quote...

NORV   "in an effort to enable Iraqi banks to establish and establish solid banking relationships with the global and regional banking sector in order to achieve the sobriety of the Iraqi banking sector and full compliance with international banking standards and their requirements."

NORV   Confirmation of what I just stated above that they want the banks and Iraq to establish relationships around the world with International standards and full compliance which means that means IMF Article XIV.

NORV   Another quote...

NORV   "He said that the strategy of the Central Bank of Iraq for this year is to gradually cancel the electronic platform in line with its procedures and negotiations with the US Federal Reserve and international banks to regulate foreign trade financing. "

NORV   "The advisor to the Iraqi Private Banks Association concluded his speech by saying that the regulatory and reform steps that he is working on this year are to control the exchange rate of the cash dollar in the parallel market and return it to the equilibrium price in the cash trading market.

And to open dealing in local currencies to countries with which Iraq has important trade exchange, such as China and Turkey.

The UAE and India in light of special agreements concluded with them and currently being implemented."

NORV   This seems pretty clear and excellent news. We very well see that Iraqi dinar float on the global market at the end of this year or early next year.

Again it all depends on Iraq to get their decks in order, get the spread of the dinar in line and hold it for 90 days or longer, Etc in order to make that transition but it sounds like they are announcing that that is the plan.

The plan to use the dinar to start paying for things globally which would end the auction and they would need an alternative which would be floating the currency allowing it to rise based on the success and growth of their own economic situation. I think it's very promising

NORV   https://economy-news.net/content.php?id=41434

NORV I don't think people understand the significance of those statements in that article. For them to want to end the auctions this year, how it ties in with monetary policy. I tried to explain it in my comments but I don't know if I emphasized it enough. But it definitely is very good news

Zig   So NORV are you saying that it's  :Awesome: news???.....lol

Zig   Should we be :Joyous:  woooowhoooo   ??

NORV   It's not very often that you get tidbits that have a significant impact on monetary policy. This is this was a very clear statement on what their plan is to do with the auctions over the next several months. And anyone who understands how the auctions work knows that what they intend to do can't happen without something to take his place. Therefore, yes, it is huge news.

NORV   :Floating:

NORV   And more importantly another step in the direction of what I've been saying would happen for years.   :Yes:

 Sah:   NORV I am excited as it means they need to go international to get rid of the auctions. Besides floating they will also be able to dock onto the basket of currency for a more stable environment for their currency while also being able to float their currency to raise the value.

NORV   Of course anything that would get buyers of dinar excited. Just because this article came out doesn't mean it's going to happen, it means that's a step in the plan.

NORV   People need to remember, just because they're making monetary policy changes doesn't mean the dinar is going to go up significantly. In fact just the opposite in my opinion until Iraq passes the laws to encourage investment the dinar will remain weak. So it could still be several years before it raises to a level that people are encouraged about.

NORV   An exchange rate is a reflection of the economy. Iraq's economy is still very very weak

Maybe more here later – stay tuned and check back to Recaps Blog ………

 Zig   If you access this chat via https://my.cbox.ws/ZIGPLACE   You can make the box much bigger by clicking this link  ZIGPLACE - Cbox         https://my.cbox.ws/ZIGPLACE

"Tidbits From TNT" Tuesday 4-9-2024

TNT:

Tishwash:  Advisor to the Prime Minister: Government measures put Iraq at the forefront of countries in foreign investment

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed today, Tuesday, government measures that put Iraq at the forefront of countries in foreign investment, while indicating that the development path and the Al-Faw port have strengthened the government’s vision in encouraging foreign investments. 

Saleh told the Iraqi News Agency (INA): “The Iraqi economy is characterized by two basic features that help give it preference in foreign investment. First, cash flows in foreign currency are reflected in the current account of the balance of payments relative to the gross domestic product, which is estimated by international economic and national centers at a surplus estimated at (positive). 7%) Iraq also ranks second in OPEC oil production and fifth in the world in that production.

He added: “As for the second advantage, there is a wide range of investment opportunities available provided by transportation, digital communications, housing and construction activities, which end with encouraging partnership between the state and the private sector in the manufacturing industry and various technological fields, the latest of which was the Cabinet’s adoption of the facilitating instructions in its last meeting that encourages the existing partnership between...

The state and the private sector, which is based on the principle of mutual win-win and is an attractive signal for foreign direct investment,” pointing out that “the investment law frames the provision of an attractive investment environment for investors, especially the economic surplus trends of the countries of the region and their orientation towards profitable investments in Iraq in the industrial, agricultural and other fields, which... It gives a positive signal to international investment in general to be attracted to Iraq and investigate promising opportunities there.”

He stressed that “the Development Road Project, as a development strategy that adopts the idea of ​​development-leading projects, constituted the central call for international companies to participate, starting from the port of Al-Faw and ending with the Turkish border, for economic connection with Europe, which... This means that the state's economic vision is based on encouraging direct foreign investments in development activity in Iraq, whose natural resources are abundant in the ground.

He explained, “Iraq is ranked ninth in the world in terms of natural resources in the ground, and ranked first in reserves per square kilometer of investable natural resources such as (phosphate, sulfur, and other important reserves).

A study conducted by the FDI Intelligence website, which specializes in foreign direct investment affairs, stated that “Iraq was ranked fourth among ten countries in the latest classification, and this classification was evaluated based on several criteria, including growth in gross domestic product, the inflation rate, growth in capital spending in foreign direct investment, and the growth rate in foreign direct investment projects.”

The study indicated that “the growth rate of Iraq’s gross domestic product reached 2.9%, while the inflation rate reached 3.6%, and the growth rate in capital spending in foreign direct investment witnessed an increase of 371%, and the growth rate in foreign direct investment projects reached 95 percent.” %,” indicating that “these numbers reflect the noticeable improvement in the investment climate in Iraq and the efforts made to strengthen the economic sector and attract more foreign direct investments.”  link

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Tishwash:  Iraq's financial revenues exceed 11 trillion dinars within a month

The Ministry of Finance revealed, on Tuesday, that the volume of Iraqi revenues in the federal budget during a month exceeded 11 trillion dinars, confirming that the oil contribution to the budget had decreased to 89%.

Shafaq News Agency followed the data and tables issued by the Ministry of Finance in April for the January accounts of the current fiscal year, which showed that oil is still the main resource for Iraq’s general budget, reaching 89%, which indicates that the rentier economy is the basis of the country’s general budget.

The financial tables indicated that the total revenues in January amounted to 11 trillion, 527 billion, 453 million, 587 thousand and 580 dinars, indicating that the total expenditures with advances amounted to one trillion, 252 billion, 731 million and 419 thousand dinars.

According to the financial tables, oil revenues amounted to 10 trillion and 275 billion and 776 million and 460 thousand dinars, which constitute 89% of the general budget, while non-oil revenues amounted to one trillion and 266 billion and 307 million and 956 thousand dinars.

The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, confirmed in an interview with Shafaq News Agency in March 2021 that the reasons for the economy remaining rentier are due to wars and the imposition of the economic blockade on Iraq during the past era and the political conflicts we are witnessing today, which led to the dispersion of... for economic resources.

The Iraqi state’s continued reliance on oil as the sole source of the general budget puts Iraq at risk from the global crises that occur from time to time because oil is affected by them, which makes the country tend every time to cover the deficit through borrowing from abroad or within, and thus indicates the inability to Managing state funds effectively, and the inability to find alternative financing solutions.  link

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

Tishwash:  Government spokesman: We have adopted the principle of productive borrowing and integration into the international economic cycle

Government spokesman, Bassem Al-Awadi, said on Monday, April 8, 2024, that the government has followed the principle of productive borrowing and integration into the international economic cycle.

Al-Awadi issued a statement, seen by Ultra Iraq, which came as “an emphasis from the government on transparency in economic work, and informing public opinion and the national and international media of Iraqi economic performance.”

He added: “In light of the Council of Ministers’ approval of the recommendations of the Diwani Order Committee 23942, related to regulating external borrowing and structuring Iraqi public external debt, the government took a series of executive measures and adopted a package of financial decisions, which ended in reducing external public debt by more than 50%. The debt will decrease from $19.729 billion in late 2022, to $15.976 billion in 2023, reaching approximately $8.9 billion in the current year.”

Mazhar Muhammad Salih, the Sudanese advisor, spoke about “Iraq’s regularity in paying its external debts due annually, of which only approximately 20 billion dollars remain.”

Al-Awadi said, “These financial steps, (which included halting a number of borrowing operations due to their delay and unproductivity, organizing and managing debts and auditing them, and restructuring some debts and directing them to create strategic projects), aim to prevent the Iraqi economy from mortgaging obligations that may affect, in the future, the political decision.” Or in the path of national development, which coincides with an urban renaissance and infrastructure reconstruction, which opens the way to a promising future and a revitalized economy, in which our current and future generations perform best and obtain the greatest opportunities.

In its latest report , the International Monetary Fund  warned  of the doubling of debt in Iraq, through an increase in the deficit, as it expected “the public finance deficit to reach 7.6% in 2024 and to expand further after that with the expected gradual decline in oil prices in the medium term.” Leading to “a near doubling of public debt from 44% in 2023 to 86% by 2029.”

Al-Awadi pointed out that his government “organized the process of financing cooperation with the international community in specific contexts, including direct productive borrowing, providing sovereign guarantees to ensure the production of projects undertaken by the private sector for the benefit of the government, and sovereign guarantees provided by the government for the benefit of institutions that finance the Iraqi private sector importing production lines from In order to build factories inside Iraq.

He explained, "These steps pave the way for our country's further integration into the international economic cycle, and for the government to adopt the principle of productive borrowing only, which effectively leads to an increase in domestic product, and the financing of national service and productive projects with economic returns, in a way that ensures their completion and is not delayed."

He concluded by saying: “With these firm steps, the government renews its determination to continue making a qualitative shift in the Iraqi economy, in parallel with tangible development in the services, infrastructure and social care sectors, which are all the pillars required to meet the aspirations of our people throughout Iraq, and implement the government program with its priorities.” And its targets.

Iraq's external debt in 2021 amounted to about $13 billion, and it arose while financing the war on ISIS after 2015, as the government advisor stated 3 years ago.  link

Mot: .. and yet Another Conspiracy Theory Proved Right!!!

Mot . ooooooooh lordy!!! --- the Day After!!!

Iraq Economic News and Points to Ponder Tuesday AM 4-9-24

Iraq Economic News and Points to Ponder Tuesday AM 4-9-24

Tlm724 Administrator Bondlady’s Corner

The Beginning Of “Drying Up” Liquidity From The Hands Of The Iraqis.. The Destruction Of “Surplus” Currency And Deposits In Banks Are The Highest Historically
 
Economy  | 30,007 views  Alsumaria News - Special
 
Over the past years, all of the economic problems in Iraq internally, whether with regard to  corruption, the      dollar, the      rise in real estate prices, etc., as well as     inflation,have been directly linked to the 
     high volume of liquidity and the     printing of money by the Central Bank, as well as the     high volume of cash in the hands of the street, citizens or... Capital owners, away from Iraqi banks.
 
Recently, trends and numbers indicate that a reverse process has begun to take place in Iraq, which consists of     reducing cash and     getting rid of “surplus printed money” without printing new money in front of it, and     increasing banks’ possession of this liquidity instead of leaving it in the hands of the street and citizens, where it can be said that the  government and the banking sector And finance in general in Iraq began to “nibble” the existing liquidity and “dry it out” from the hands of the people.
 
In a special review conducted by Al-Sumaria News, it becomes clear that the currency printed or issued in Iraq until February 2024 is the lowest in 8 months, that is, since May 2023, as the currency printed in Iraq reached 99.2 trillion dinars, and the highest historical level reached by the printed currency was recorded. In November 2023, it amounted to 102.6 trillion dinars.

This approach represents getting rid of the currency and not only stopping its printing, but also “destroying it.”
 
This matter does not seem “absurd,” but rather
 
it is an approach committed by Iraq to reform liquidity management and with recommendations from the International Monetary Fund, which, in its statement last February, praised “ Efforts made by the Central Bank of Iraq aimed at getting rid of excess liquidity!
 
While the currency printed until February 2024 is the lowest in 8 months, there is a “historical” record corresponding to it, as the data reviewed by Al-Sumaria News show that until January 2024, the currency in banks amounted to 9.1 trillion dinars, and this number is the highest ever in history. Banks after they ranged between 6, 7 and 8 trillion over the past months and years.
 
The expected effects of this trend are not known, but     specialists believe that the data will continue in one direction, which is to reduce printed cash and liquidity, and     the banks’ attempt to hold on to liquidity and not leave it in the hands of citizens, and  all of these indicators will ultimately lead to reducing inflation in general and reducing the “enormous” purchasing power among groups. Great Iraqi. 
 
https://www.alsumaria.tv/news/economy/485612/بدء-تنشيف-السيولة-من-يد-العراقيين-اتلاف-فائض-العملة-والإيداع-بالمصارف   

Offering Completion Bonds
 
April 08, 2024  Offering completion bonds  :diamonds: This bank, on behalf of the Ministry of Finance, will offer bonds under the name (Injaz Bonds) to the public starting from 4/15/2024 until 5/15/2024..  For more click here   https://cbi.iq/static/uploads/up/file-171256457620741.pdf   
 
https://cbi.iq/news/view/2545      
~~~~~
 [incomplete and approximate translation of 
https://cbi.iq/static/uploads/up/file-171256457620741.pdf]

All commercial banks   M/ Offering bonds (Enjaz)
 
Based on the letter of the Ministry of Finance No. 196 dated 5/74/7410, which included the start of issuing national bonds.
 
To the public. This bank, on behalf of the Ministry itself, will offer bonds under the name (Injaz Bonds) to the public starting from
 
Date 4/14/1010 until 01/74/5 15. Because the success of the bond selling process depends primarily on your bank.
 
This bank invites you to receive the public and provide everything that will facilitate this process. It will not be promoted and delivered
 
Bonds are issued to the public only through banks.
 
In order to facilitate the procedures for these bonds, we have agreed to provide you with a mechanism for this. As we would like
 
We inform you of the following:
 
1. Lump sum administrative commissions will be allocated by the Ministry of Finance amounting to (11) thousand dinars (twenty thousand dinars).
For every customer attracted by your bank to buy the bond.
 
The bonds offered will be in two categories:-
 
:copyright:» A bond in denomination (500,000) dinars (five hundred thousand dinars) with annual interest (7.5/) for a period of two years and paid every six
Months.
 
:copyright: Bond denomination (1,000,000) dinars (one million dinars) with annual interest (8.5)) for a period of four years and paid every six months also.
 
“Your bank is required to announce to the public through all your branches and on social media pages
 
Your account or any other means of communication that you deem appropriate in a way that makes the purchasing process understandable and non-existent Complicated.
 
5. The amounts received from the public are collected and transferred at the end of each week to this bank until the end of the period
 
Designated for sale and code (5509).
 
. These bonds are exempt from taxes and related fees.
 
. Adherence to the usual anti-money laundering and counter-terrorism financing procedures and in accordance with the instructions issued in this regard.
 
. The possibility of using the bonds under study as guarantees in exchange for granting cash credit to customers (companies or individuals)
 

Provided that the amount and duration of the credit granted do not exceed the value and term of the bonds taken as guarantees.
 
6. These bonds are traded in buying and selling in the Iraq Stock Exchange.
 
9. The open market operations office in this bank is provided (exclusively) with the names of those wishing to buy any bonds
 
In paper form or via this office’s e-mail (WZA :copyright:08500.00626).
 
We ask your bank to take the necessary measures to combine efforts and make the bond sale process successful at all stages. With appreciation.
 
Attachments:  - Mechanism for issuing completion bonds   - Form/number (1)
https://cbi.iq/static/uploads/up/file-171256457620741.pdf]

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

Provoking Points To Ponder On Failures and Mistakes

The fault, dear Brutus, is not in our stars, but in ourselves.- William Shakespeare

There's folks 'ud stand on their heads and then say the fault was i' their boots.- George Eliot

Admitting error clears the score, and proves you wiser than before.- Arthur Guiterman

Mistakes fail in their mission of helping the person who blames them on the other fellow.- Henry S. Haskins

I have known men who could see through the motivations of others with the skill of a clairvoyant; only to prove blind to their own mistakes. I have been one of those men.- Bernard M. Baruch

I have made mistakes, but I have never made the mistake of claiming that I never made one.- James Gordon Bennett

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

http://famousquotesandauthors.com/quotes_by_topic.html

MilitiaMan: Iraqi Dinar - Stronger than US Dollar - Resolutions - Salaries - Oil Pipelines - USA visit by Sudani

Iraqi Dinar - Stronger than US Dollar - Resolutions - Salaries - Oil Pipelines - USA visit by Sudani

MilitiaMan and Crew:  4-8-2024

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=iUOq7IBqsbc

Goldilocks' Comments and Global Economic News Monday Evening 4-8-24

 Goldilocks' Comments and Global Economic News Monday Evening 4-8-24

Good Evening Dinar Recaps,

"Enthusiastic members of the XRP community are rejoicing over a recent development that could significantly influence the future of the Ripple-supported token. A fresh research paper by the European Corporate Governance Institute (ECGI) has reinforced the classification of XRP as a utility token, aligning with a U.S. federal court ruling in July 2023."

Today, the European Union begins testing it's instant payment service on MICA. It is expected that Ripple is a part of this transaction due to its ability to transact two assets between each other within seconds.

This makes Ripple a recognized Network capable of making instant payment settlements possible. Europe is currently testing and regulating the new Global Crypto Standards and/or Regulations that will apply to digital economies wherever they are.

I do find this interesting that a change of this magnitude is happening on the same day as an eclipse. An eclipse symbolizes hidden truths being revealed and a movement into higher learning.  TimesTabloid
Times of India    Crypto Weekly

This truly is a Biblical moment.

© Goldilocks

~~~~~~~~~

Economy News – Baghdad

The Central Bank of Iraq decided to launch Enjaz bonds worth 1.5 trillion dinars in implementation of the Financial Budget Law for the years 2023-2025.

According to a document, issued by the Central Bank, obtained by “Economy News”, “the issuance of public debt bonds is offered to the public in the name of completion bonds in the amount of 1.5 trillion dinars,” noting that the Central Bank issues this bond on behalf of the Ministry of Finance.

The document confirmed that the bonds in the first two categories 500 thousand dinars at an interest of 6.5% per year are paid every 6 months for two years while the second One million dinars with an interest of 8.5% paid every six months for four years.

The sale of the bonds begins on April 15, 2024 to May 15, 2024, the document added.

Injaz bonds are the highest benefit after the reconstruction and build bonds, which reached an interest rate of 7% per year.    Search4Dinar

~~~~~~~~~

"EBA analysis found that the models used by banks produce a lower risk rating for high carbon than low carbon sectors."

The European Banking Authority is finding that capital requirements need to shift from outdated fossil fuel regulatory preferences to newly updated risk assets that will carry us into the future.

The new tokenized assets in process of being regulated will help bridge this gap and make this transition in the energy sector of the market a possibility.

As these new Banking and Market reforms are adjusted, we will see new ratio and price developments form inside the new digital economy. It will allow us to interface new price arrangements on the QFS.

Regulation Asia   CNBC

© Goldilocks

~~~~~~~~~

The "energy sector" is currently in reforms inside the new banking system. When these new prices are adjusted to meet ratios capable of moving us into future prices, they will be able to be correlated/interfaced onto the new digital markets.

This is a major component of our economy, and it's repricing event will enable us to have a foundation going forward to support the global economy.

Look for new prices in gold, silver, and gas to solar to form on the debt clock. These foundational aspects of our economy have to be formulated to help us move forward inside of a revalued market based on new digital assets that will carry us forward.   FT    US Debt Clock

© Goldilocks

~~~~~~~~~

Message from Sam Oliver on GOLD

~~~~~~~~~

Remember, the Central Banks are the buyers of last resorts. As the CB steps in to buy Gold when the Retail Market no longer can, it will be a signal the currencies have reached a bottom enabling them to utilize Gold as a standard that can now be calculated in bringing the Currency Market back up into real values. This is the Global Currency Reset.       Wikipedia.

© Goldilocks

~~~~~~~~~

One last thing, when the price of gold is so high that only the Central Banks can begin to control the price of it over the retail Market, it will be a good time for them to be able to change prices under a managed float under fixed rates of gold allowing them to synchronize gold to new (digital) currency values.

© Goldilocks

~~~~~~~~~

All roads lead to digital gold, and digital gold will set us free.

© Goldilocks

~~~~~~~~~

Cross-Border Payment Announcement:

A report from the World Bank back in 2021 has resurfaced, under which it identified Ripple’s XRP and Stellar’s XLM as ideal stablecoins for cross-border payments.

World Bank claimed in its report that the two tokens “enable faster and more efficient cross-border payments relative to correspondent banking.” |  Crypto-News-f    Flash

~~~~~~~~~

LONDON, April 4 (Reuters) - Global securities watchdog IOSCO on Thursday proposed detailed guidance on how regulators should supervise stock exchanges more closely to negate risks from changes in business practices. | MSN
~~~~~~~~~

The instant payments regulation will allow people to transfer money within ten seconds at any time of the day, including outside business hours, not only within the same country but also to another EU member state. The regulation takes into consideration particularities of non-euro area entities. |  Consilium Europa

~~~~~~~~~

Jamie Dimon Issues an Economic Warning | NY Times

~~~~~~~~~

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Iraq Economic News and Points to Ponder Monday Afternoon 4-8-24

Iraq Economic News and Points to Ponder Monday Afternoon 4-8-24

Tlm724 Administrator Bondlady’s Corner

Al-Rafidain announces the launch of the comprehensive banking system

Economy | 09:07 - 04/06/2024   Mawazine News – Baghdad   Al-Rafidain Bank announced, on Saturday, the launch of the comprehensive banking system in the branches of Al-Waziriya and Al-Ma’rifa in Baghdad and Al-Shuhada in Holy Karbala.

He stated to the Bank in a statement received by Mawazine News, that “the plan for digital transformation and adoption of the comprehensive banking system is proceeding according to the set timings to include all branches of the bank with the application of the system.”

He pointed out that "one of the priorities and objectives of the government program is electronic transformation in financial transactions, reducing episodes of red tape for citizens, and reducing time and effort in completing citizens' transactions." https://www.mawazin.net/Details.aspx?jimare=245449

Advisor To The Prime Minister: These Are The Details Of The Comprehensive Development Plan For The Capital... And Major Strategic Projects That Will Be Announced Soon

Monday 08, April 2024 01:35 | Economical Number of readings: 345  Baghdad / NINA / Fadi Al-Shammari, advisor to Prime Minister Muhammad Shia Al-Sudani, confirmed the approval of the comprehensive development plan for the capital, Baghdad 2040, in preparation for final approval by the competent authorities.

Al-Shammari said, in press statements, “Large cities complementary to the capital have been launched in two axes (Al-Jawahiri City, Ali Al-Wardi City), and there are other proposals under study, and the road map for launching the Fourth Ring Road project has also been completed.”

He added, “The Ministries of Oil and Industry have been directed to gradually move their facilities to areas outside the cities, and it is under work,” noting that “the (Sustainable Baghdad Forests)/Al-Rashid Camp project, which consists of large recreational forests that are the largest in the Middle East, will address the environmental equivalent of the capital and the largest parks.” And a park in Iraq, which is hoped to be launched after Eid.”

He explained , “Creating green spaces in the capital and converting all open spaces into gardens and parks is one of the projects of the Baghdad Municipality, in addition to developing the capital’s areas and shops within the government’s priorities and with the follow-up of the Prime Minister and on both banks of Rusafa.” And Al-Karkh.”

The government advisor confirmed that “there are major and strategic steps and projects that will be announced or studied soon,” adding that “the urban and service transformations in the capital will produce a relatively developed capital for us in the next few years.”

He added, “Preparations are being made to launch the highway rehabilitation project (Mohammed Al-Qasim - Doura Expressway - Al-Adl Expressway - Abu Ghraib Expressway) according to international specifications, and the technical committees are also in the process of finalizing the designs for constructing the (Southern Downtown) of the capital on both banks of Doura Road.” –

 Youssefiya, according to the specific specifications, standards and uses of the land,” pointing to the redrawing and design of the city of Rafael to accommodate the capital’s administrative activities, financial, commercial, entertainment and residential institutions and green spaces./End 5

https://ninanews.com/Website/News/Details?key=1120081

The National Bank Of Iraq Decides To Increase Its Capital To 400 Billion Dinars

Economy News – Baghdad  The National Bank of Iraq decided, today, Monday, to increase its capital to 400 billion dinars

The bank stated in a press conference attended by an Al-Eqtisad News correspondent that it “decided to increase its capital to 400 billion dinars through the distribution of free shares worth 100 billion dinars.”

He pointed out "the distribution of dividends of 20% of the capital, which represents 60 billion dinars for the past year."  Views 84  Added 04/08/2024 - https://economy-news.net/content.php?id=42298

Oil Prices Fall Below The $90 Threshold

Money  and business  Economy News - follow up  Oil prices fell by more than one percent in early Asian trading, on Monday, as tension in the Middle East eased after Israel withdrew more of its soldiers from the southern Gaza Strip and pledged to hold new talks on a possible ceasefire in the six-month-old conflict.

Brent crude futures fell $1.4, or 1.55 percent, to $89.76 per barrel by 2253 GMT, after hitting the lowest level in the session at $88.78.

US West Texas Intermediate crude recorded $85.60 per barrel, down $1.31, or 1.5 percent, after falling to a low of $84.69.

Israel and Hamas sent two delegations to Egypt for new talks on a possible ceasefire before the Eid holiday, easing tensions in the Middle East that pushed oil prices up more than 4 percent last week on fears of supply disruptions.

Israeli Defense Minister Yoav Galant said on Sunday that Israel is ready to deal with any scenario that may arise with Iran, after Tehran threatened to respond to the killing of Iranian military leaders on April 1.

Saudi Arabia, the world's largest exporter, raised official selling prices for all grades of crude to Asia, in line with expectations.

Baker Hughes, one of the world's largest oil field services companies, said in its report on Friday that US oil rigs rose by two rigs to 508 rigs last week, while gas rigs fell by 2 to 110, their lowest level since January 2022.  Views 60   Added 04/08/2024 - https://economy-news.net/content.php?id=42290

Oil Ends Its Week With 5% Gains And The Price Of A Barrel Above $90

Money  and business  Economy News - follow up  Oil prices rose 5% in last week's trading, while the markets were watching signs of a direct conflict between the Zionist entity and Iran that may deepen the scarcity of supplies.

Brent crude rose in yesterday's session by 52 cents, or 0.57%, to $91.17 per barrel at settlement, while it increased by 4.8% over the course of the week.

US West Texas Intermediate crude also increased 32 cents, or 0.37%, to $86.91 per barrel, while recording weekly gains of 4.5%.

The two benchmarks reached the highest levels since October at settlement in Thursday's trading, according to Reuters.

Oil prices continue to rise for the second week in a row, after Iran, the third largest producer in OPEC, vowed to take revenge on Tel Aviv after an attack that resulted in the killing of a number of senior Iranian military personnel.

This week, the Organization of the Petroleum Exporting Countries (OPEC) and its allies - led by Russia - kept the oil supply policy unchanged, and pressured some countries to increase commitment to production cuts. Views 55  Added 04/07/2024 - https://economy-news.net/content.php?id=42263

The Iraqi Central Bank Sells More Than $255 Million Today

Economy | 01:39 - 04/07/2024  The Iraqi Central Bank sells more than $255 million today

https://www.mawazin.net/Details.aspx?jimare=245478

More Than $278 Million...Central Bank Sales Today

Monday 08, April 2024 12:09 | Economical Number of readings: 222  Baghdad / NINA / The Central Bank of Iraq announced its total sales of foreign currency through the electronic window, today, Monday.

The total amounts of transfers abroad (remittances, credits) amounted to $238,120,332, while the total amount of cash sales amounted to $40,405,000, and the total amount of sales amounted to 278,525,332.

The selling price for transfers and cash was set at 1,310 dinars per dollar, while the price of bond credits and international electronic card settlements was set at 1,305 dinars./End 11

https://ninanews.com/Website/News/Details?key=1120135

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

Provoking Points To Ponder On Failures and Mistakes

I believe we are solely responsible for our choices, and we have to accept the consequences of every deed, word, and thought throughout our lifetime.- Elisabeth Kubler-Ross

A chief is a man who assumes responsibility. He does not say "My men were beaten," he says, "I was beaten."- Antoine de Saint-Exupery

The most considerable difference I note among men is not in their readiness to fall into error, but in their readiness to acknowledge these inevitable lapses.- Thomas Henry Huxley

It is very easy to forgive others their mistakes. It takes more grit and gumption to forgive them for having witnessed your own.- Jessamyn West

Whenever at an accusation blind rage burns up within us, the reason is that some arrow has pierced the joints of our harness. Behind our shining armour of righteous indignation lurks a convicted and only half-repentant sinner ... [and] we may be almost sure some sharp and bitter grain of truth lurks within it, and the wound is best probed.- Jane Harrison

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

http://famousquotesandauthors.com/quotes_by_topic.html

"Tidbits From TNT" Monday Morning 4-8-2024

TNT:

Tishwash:  The Iraqi market suspends its activity for 6 days

The Iraq Stock Exchange announced, on Monday, the suspension of its activity for a period of six days.

The market stated, in a statement received by Shafaq News Agency: “Based on the Council of Ministers’ decision to declare a six-year official holiday for Eid al-Fitr, the market’s activities and trading sessions will stop for six days.”

He explained, "The holiday will be starting Tuesday, April 9, and trading sessions will resume on Sunday, April 14."

It is noteworthy that the Iraq Stock Exchange organizes five trading sessions weekly from Sunday to Thursday, and 103 Iraqi joint stock companies are listed, representing the sectors of banking, communications, industry, agriculture, insurance, financial investment, tourism, hotels and services.   link

Tishwash:  Although it was scheduled a year ago.. MP: A large deficit and delay in the 2024 budget

Member of the Finance Committee, MP Jamal Cougar, announced today, Sunday, that there is a large deficit in the 2024 budget, estimated at 84 trillion dinars.  

Cougar said in a statement to the Maalouma Agency, “The federal budget for the year 2024 will be delayed according to the words of the Minister of Finance,” noting that “The Finance Committee submitted its question to the Ministry of Finance a month ago.” 

He added, "The budget schedules and items are the same and have not changed much from the previous year's budget, as it is a tripartite budget, but some amendments have been made to it," noting, "Will this be the last and final amendment to the budget or not?" 

It is noteworthy that the Iraqi government announced last year the launch of the tripartite budget project, to facilitate the financial process in the country faster, especially since Iraq is going through an urbanization phase launched by the Iraqi government.  

Observers believe that the delay in the Iraqi budget had a significant impact on the economic movement, coinciding with its deficit and the lack of financial liquidity, which had a negative impact on the citizen during the days of the blessed Eid and on the Iraqi market  link

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

CandyKissses:   World Bank Supports Iraq’s Financial Reform Program

Finance Minister Satif Sami has met with Jean-Christophe Carre, the Regional Director for the Middle East at the World Bank, along with the bank's Special Representative in Iraq, Richard Abdulnour, and a number of experts and specialists.

The meeting discussed development project priorities and ways in which the World Bank can support enhancing financial and business sectors and improving the investment environment. There was an emphasis on the continuation of bilateral coordination to promote sustainable development and support the government's economic reform program in Iraq.

Minister Sami highlighted the ministry's efforts and plans to accelerate financial and banking reforms in line with the Iraqi government's vision to strengthen the national economy, achieve economic balance, and correct fiscal policy in Iraq.

The World Bank representative emphasized continued serious and fruitful cooperation with the Iraqi government, providing necessary expertise for development projects and reforms related to the financial and business sectors.

(Source: Ministry of Finance)

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

CandyKisses:  Gold continues record high amid speculative buying

Gold prices continued their record high on Monday, supported by speculative buying and continuing tensions in the Middle East, which overshadowed strong job growth in the United States in March.

By 04:06 GMT, spot gold was up 0.6 percent at $2,343.89 an ounce after hitting a record high of $2,353.79 earlier in the session.

U.S. gold futures gained 0.7 percent to $2,361.09.

U.S. stocks closed higher on Friday, after a strong jobs report reinforced the view that the economy remains healthy, even as the Federal Reserve suggested the Fed may delay a rate cut.

Geopolitical tensions in the Middle East could also be another driving force for gold.

Strong purchases by central banks, safe-haven inflows amid rising geopolitical risks, and demand from funds following momentum have boosted bullion gains by 12% so far this year.

U.S. job growth beat expectations in March, suggesting the economy ended the first quarter on solid footing and may delay expected rate cuts from the Fed this year.

Spot silver rose 1.4 percent to $27.85 an ounce, platinum gained 0.1 percent to $928.11 and palladium gained 0.4 percent to $1,006.88.

Mot:  .. Are Youuuuuuuuuuuuu Ready!!!!?????

Mot ..... Don’t forget to protect your horses from the eclipse

MilitiaMan: Iraqi Dinar - Reforms - Solutions - Iraq a Whole - Sustainable Development - Integration - Equations

Iraqi Dinar - Reforms - Solutions - Iraq a Whole - Sustainable Development - Integration - Equations

MilitiaMan and Crew:  4-7-2024

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=F1Zz3ws-Qaw