Iraq Economic News And Points To Ponder Tuesday Afternoon 12-24-24

Congratulations on Christmas.. The President of the Republic stresses the importance of consolidating security and stability and enhancing brotherhood and coexistence among all components

Tuesday 24 December 2024 18:49 | GeneralNumber of readings: 106

Baghdad / NINA / The President of the Republic, Dr. Abdul Latif Jamal Rashid, congratulated the Christians of Iraq on the occasion of Christmas, stressing the importance of working to consolidate security and stability and enhance brotherhood and coexistence among all components.

The President said in a tweet on the Aks website: "On the occasion of Christmas and the New Year, we extend our warmest congratulations and blessings to our people and our Christian families in Iraq and the world, wishing them a happy holiday in which everyone enjoys security, safety and joy."

He added: "On this dear occasion, we stress the importance of preserving the gains achieved in the country, working to consolidate security and stability, and enhancing brotherhood and coexistence among all components, and working together to build a prosperous future for all Iraqis. We also stress the importance of working to establish security and peace and end the tensions and crises facing the region." / End9   https://ninanews.com/Website/News/Details?Key=1176497

Dollar Prices Rise In Baghdad And Erbil With Stock Exchanges Closed

Economy  | 05:00 - 12/24/2024   Mawazine News – Economy  The markets of the Iraqi capital, Baghdad, and Erbil, the capital of the Kurdistan Region, witnessed a rise in the dollar exchange rates with the closing of the stock exchanges on Tuesday evening. The

dollar prices also rose with the closing of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 151,400 dinars for every 100 dollars, after it had recorded 151,200 dinars this morning.

Selling prices also rose in the local markets in Baghdad, where the selling price reached 152,500 dinars, while the purchase price reached 150,500 dinars for every 100 dollars.

In Erbil, the dollar also recorded a rise, where the selling price reached 151,400 dinars for every 100 dollars, while the purchase price reached 151,300 dinars for every 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=257837

Gold Prices Stabilize In Baghdad

Stock Exchange  Economy News – Baghdad  The prices of "foreign and Iraqi" gold stabilized in the local markets in the capital, Baghdad, today, Tuesday (December 24, 2024).

Gold prices in the wholesale markets on Al-Nahr Street in the capital, Baghdad, this morning recorded a selling price for one mithqal of 21 karat Gulf, Turkish and European gold of 552 thousand dinars, and a purchase price of 548 thousand dinars.

The selling price of one mithqal of 21-karat Iraqi gold reached 522 thousand dinars, and the purchase price was 518 thousand.

As for gold prices in goldsmiths’ shops, the selling price of a mithqal of 21-karat Gulf gold ranges between 550,000 and 560,000 dinars, while the selling price of a mithqal of Iraqi gold ranges between 520,000 and 530,000 dinars.  95 views   12/24/2024 - https://economy-news.net/content.php?id=51235

Oil Prices Rise Ahead Of Christmas

Energy   Economy News – Baghdad   Oil prices rose on Tuesday in thin trading ahead of the Christmas holiday, supported by U.S. economic data and rising demand for oil in India, the world's third-largest oil importer.

Brent crude futures rose 33 cents, or 0.45 percent, to $72.95 a barrel, while U.S. West Texas Intermediate (WTI) crude futures rose 29 cents, or 0.42 percent, to $69.53 a barrel by 01:14 GMT.

New orders for key U.S. manufactured capital goods rose in November amid strong demand for machinery, while new home sales also rebounded in a sign that the U.S. economy is on solid footing toward the end of the year. The United States is the world's largest oil consumer.

In the shorter term, traders are looking for signs of U.S. demand from crude oil and fuel inventory data due from the American Petroleum Institute later on Tuesday.

WTI crude has finished the last three sessions just below $69.50 as volatility seeps out of the market ahead of the holiday period, said Tony Sycamore, market analyst at IG.

Meanwhile, India's crude oil imports, the world's third-largest oil importer, rose 2.6% year-on-year to 19.07 million metric tons in November, government data showed, supported by strong demand amid rising economic activity and travel.

118 views    12/24/2024 - 8:57 AM   https://economy-news.net/content.php?id=51221

Director Of Iraqi Ports: Our Revenues Exceeded One Trillion Dinars In 2024

economy | 08:21 - 12/24/2024  Mawazine News – Baghdad  The Director General of the Ports Company, Farhan Fartosi, stated today, Tuesday, that the company's revenues exceeded one trillion dinars in the year 2024.

Fartosi said in a statement to "Mawazine News" that "the company's revenues achieved a leap through the development of docks and port facilities, in addition to introducing the electronic automation system."

He pointed out that "the revenues for the year 2024 recorded more than one trillion dinars after they did not exceed half a trillion in previous years."  https://www.mawazin.net/Details.aspx?jimare=257853

Central Bank Governor: We Have Issued Controls To License Digital Banks In Iraq

Banks  Economy News – Baghdad  The Governor of the Central Bank, Ali Al-Alaq, announced today, Tuesday, the launch of strategic projects to support digital transformation, while indicating that the Central Bank has issued controls to license digital banks in Iraq.

Al-Alaq said in a speech during the fourth annual international scientific conference, entitled (Digital Financial Services - Challenges of Reality and Future Foresight), which was followed by "Al-Eqtisad News", that "the conference was organized in partnership between the Financial and Accounting Center and a number of universities and academic institutions, which gives an image aimed at discussing developments in the field of financial and digital services and the challenges they face, in addition to foreseeing the future of this vital sector."

He added that "the world has witnessed, since the late eighteenth century, four inventions that changed its face, the first with the invention of the steam engine, the second with the electric engine and large-scale production, the third that occurred in the middle of the twentieth century in the revolution of electronics and information technology, and the fourth that began in the year 2000, which focused on artificial intelligence, the Internet, robotics, and big information."

He explained that "the Central Bank paid great attention to digital transformation as one of its goals within its third strategic plan for the years from 2014 to 2026 to enhance the efficiency of banking work, improve financial performance, and meet customer needs in light of rapid technological development."

He continued: "The Central Bank has taken great strides to support digital transformation by rotating the technical infrastructure and issuing regulations and instructions that contribute to enhancing financial inclusion," noting "the launch of strategic projects, including the instant payments project, local cards and unified payment gateways, in addition to issuing controls to license digital banks in Iraq, taking into account cybersecurity requirements and the risks associated with this transformation."

He pointed out that "the objectives of the conference, which include identifying current challenges for digital financial services, anticipating future trends, and enhancing innovation and cooperation with relevant parties, reflect the urgent need for joint action."

He stressed that "cybersecurity is one of the most important challenges facing us today, so the Central Bank launched projects to enhance cybersecurity by developing tools and systems for the Cybersecurity Management Center, and adopting an advanced approach to enhance cybersecurity for the Central Bank and the banking sector."

He added, "Artificial intelligence and its role in digitizing financial services has become a topic that cannot be ignored as it opens new horizons for innovation and improvement of services. We at the Central Bank of Iraq believe that financial technology completes the future of the financial sector, which requires enhancing efforts to prepare national cadres capable of absorbing and developing these technologies," stressing "the Central Bank's commitment to continuing its efforts to achieve financial digital transformation and enhance innovation and sustainability in the financial sector."

227 views   Added 12/24/2024 - https://economy-news.net/content.php?id=51239 

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

What You Should — And Shouldn't — Do If You Win The Mega Millions Jackpot

What You Should — And Shouldn't — Do If You Win The Mega Millions Jackpot, according to an expert

Kate Murphy  ·Reporter  Updated Tue, December 24, 2024  Yahoo News

There’s still a chance — 1 in nearly 303 million — for a lucky winner to score the Mega Millions jackpot, which climbed to an estimated $1 billion ahead of Tuesday's 11 p.m. ET drawing.

While securing the golden ticket is all a matter of luck, holding on to one’s newfound fortune after such a windfall requires some strategy.

In fact, compared to the average American, lottery winners are more likely to declare bankruptcy within three to five years, due to a lack of financial planning.

Yahoo News spoke to Andrew Lokenauth, a personal finance expert and founder of thefinancenewsletter.com, for some tips on what to do, and not to do, if you are the jackpot winner. Some answers have been lightly edited for length and clarity.

Someone just won the lottery jackpot, what should they refrain from doing?

Andrew Lokenauth: One: Don't sign the ticket, because once people know who claimed it, everyone is going to be rushing after you. I would say put it in a safe place, and depending on the state you're in, you can claim it anonymously (Delaware, Kansas, North Dakota, Ohio, South Carolina or Maryland).

Two: Don't tell anybody. This leads back into the first point because you could become the victim of robbery, or people can try to extort you.

Go private until things get under control. You'd want to delete your social media or make it private until you figure things out. Legally change your address to a P.O. box. And get a new phone number and email address, because it can be easy to find both online.

What actions should lottery winners take?

Make digital copies (on encrypted storage) or print copies of your ticket. If you lose it or someone steals it ... these are time-stamped items of proof that you actually own the ticket.

You're going to want to look into hiring six different professionals. The first would be a lawyer, who would help you structure a legal entity [and set up a] trust that protects your money.

Who else should you hire?

TO READ MORE:  https://www.yahoo.com/news/what-you-should--and-shouldnt--do-if-you-win-the-mega-millions-jackpot-according-to-an-expert-154711354.html

“Bits and Pieces” in Dinarland Tuesday Afternoon 12-24-2024

Ariel: Iraqi Dinar Update, Strategic Window

12-23-2024

Iraqi Dinar Update

I can understand why this would be the case for the Central Bank of Iraq and determine a cohesive strategy for their new exchange rate. As we know speculation can run wild once they reinstate their currency.

Releasing a new exchange rate during a period when markets are closed or less active, such as during Christmas, could indeed provide a strategic window.

This timing allows for adjustments in the currency valuation without the immediate pressure or volatility that might come from active trading. This could minimize the risk of speculative attacks or undue market reactions.

 Introducing the new rate just before the weekend gives the Forex markets time to adjust over a couple of days before the new week starts.

This buffer can be useful for banks, traders, and the financial systems to recalibrate without the intensity of a full trading week’s pressure right away. Will everything go according to this plan? Not sure but it does make perfect sense.

 As we know others are saying they could delay it to July 2025 because of the digital transformation. Which I highly disagree with.

Because for one Starting a new fiscal year with an adjusted rate would simplify financial reporting and economic planning for businesses and government entities.

 It allows for a clean slate where all financial transactions from January 1, 2025, would be based on the new rate, reducing confusion and making economic analysis more straightforward.

While full digitalization by July 2025 might be an ambitious goal, Iraq has already taken significant steps towards digital banking. The introduction of digital payment methods, mobile banking apps, and efforts to reduce cash reliance indicate a progressive move towards digital finance.

 This groundwork suggests that even if full digitalization isn’t complete, substantial progress has been made, potentially sufficient to handle a currency revaluation without needing to wait until July 2025.

CryptoTrader:  Last year they revalued dinar to 1310 on February 7th,Which was a Tuesday. Here is the theory. Tomorrow being Tuesday and Christmas eve they can revalue after the US markets close as all forex closes till 5 pm Christmas day. They have ample time just like Sunday and it's a perfect diversion . It will hit forex on boxing day which is Thursday  .2 days of adjustments on forex and 2 days  of  weekend. And people can start exchange from 30th Monday which is a new moon day. Lot of financial market positive moves happen on new moon ,historically.  And like Sudani promised its just 1 day before the year end.

https://dinarchronicles.com/2024/12/23/ariel-prolotario1-iraqi-dinar-update-strategic-window/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:
Mr.  Sammy said with this auction stopping the value would have to be added to stop the chance of a collapse of the currency.  FRANK:  That's brilliant simple words but so well said.  Specific manicured words that defines it exactly...This is checkmate.  There is no other move.

Nader From The Mid East  I feel it's very very, we are very very very very close.  Very close.  Like very close guys.  I feel like once they stop the auctions everybody is going to be happy about it.  I think it's going to be stopping on the 28th...70% to 80% [chance].

*KTFA:

Clare:  Iraq suspends official work tomorrow, Wednesday

12/24/2024

The Iraqi government decided to suspend official work tomorrow, Wednesday, on the occasion of Christmas. 

A brief statement received by Shafaq News Agency stated that the Council of Ministers voted to consider tomorrow, Wednesday, December 25, 2024, an official holiday, on the occasion of Christmas.

Christmas, celebrated on December 25 of each year, is considered one of the most important religious and social occasions in the Christian world. These holidays symbolize the birth of Jesus Christ and are characterized by manifestations of joy and spiritual contemplation.

In Iraq, Christmas is an important religious and social occasion celebrated by Christian sects, where prayers are held in churches amidst a spiritual atmosphere, cities are decorated with trees and lights, and celebrations reflect the values ​​of coexistence and peace among the various components of Iraqi society.   LINK

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Why Gold Will Dominate in 2025, Dollar Collapse | Alasdair Macleod

Soar financially:  12-24-2024

In "2025 - Collapse is Coming", Alasdair Macleod discusses the largest credit bubble in history, the risk of fiat currency collapse, and gold’s role as a safe haven. Learn about the debt traps facing major economies, the geopolitical challenges shaping markets, and what to expect in 2025.

Timestamps

00:00 Intro

01:16 Alasdair Macleod Introduction

02:25 Year in Review: 2024 Highlights

 05:00 The Largest Credit Bubble in History

 09:15 Geopolitical Shifts and Their Impact

12:47 BRICs and Currency Wars

16:10 Middle East Tensions and Implications

19:32 Central Banks Buying Gold

23:05 Economic Outlook for 2025

27:45 Impact of Rising Interest Rates

31:30 The Fed’s Debt Trap

 35:10 Gold vs. Fiat Currencies

39:00 The Role of Commodities in 2025

42:20 Protecting Wealth Amid a Collapse

 46:05 The Rise of Debt Traps Globally

 50:20 Challenges for Western Economies

54:15 Real Money vs. Credit

 57:45 Viewer Takeaways and Final Thoughts

 1:00:30 Closing Remarks

https://www.youtube.com/watch?v=DHoZj0rKPPA

“Tidbits From TNT” Tuesday 12-24-2024

TNT:

Nassif: Government reforms contributed to Iraq's exit from foreign debt risks

MP Alia Nassif confirmed on Monday that the current government has achieved important economic reforms, most notably Iraq’s exit from the dangers of foreign debt.

"One of the most important economic reforms of the current government is to free Iraq from the risks of foreign debt after paying most of it off over the past two years," Nassif said in a statement reported by the official news agency and seen by Al-Eqtisad News.

"Our economy has become more secure and not shackled by debt," she added, expressing her hope "to move in the coming period from a rentier economy to a productive economy through an agricultural industrial revolution link

Tishwash:  What are Iraqis waiting for after the news of the "sudden suspension" of the dollar selling platform by the Central Bank?

Financial and banking expert Alaa Al-Fahd commented today, Tuesday (December 24, 2024), on the impact of the Central Bank’s suspension of the “platform” on the markets during the next stage.

Al-Fahd told Baghdad Today, "The Central Bank of Iraq worked during the previous period with a plan through a currency auction in the first phase, then establishing the electronic platform and intensive work to find correspondence methods between local banks and foreign banks with which we have commercial relations and their results in external transfers. Therefore, the bank announced some time ago that the platform will be stopped at the end of this year and there will be direct correspondent banks."

He explained that "this is a natural matter, as all central banks in the world are tasked with maintaining monetary policy, not selling currency. There is no central bank in the world that sells currency and mediates in buying and selling currency. This work is the responsibility and responsibility of banks and exchange companies. This is true and is a major challenge until the relations are direct commercial banking under the supervision of the Central Bank of Iraq."

He added, "Stopping the platform will not affect the local markets in terms of the dollar exchange rate, but there are those who are trying to spread rumors that this step will change the exchange rate, as the same dollar that the Central Bank of Iraq was selling through the platform will be sold to banks and banks that have relations with foreign banks so that the transfer is direct according to electronic transactions and monitoring, and for this reason the situation is under control and there is no fear of the impact on the markets."

Yesterday, Monday, economic expert Ziad Al-Hashemi revealed that the Central Bank of Iraq had suddenly suspended the dollar transfer platform before the scheduled date, without an official announcement, and without taking into account the interests of Iraqi companies and markets, in a move that is, to say the least, far from professionalism and transparency.

Al-Hashemi said in a post on the social networking site "Facebook", which was followed by "Baghdad Today", that "stopping the platform without an official announcement by the Central Bank may indicate that there is uncertainty and fear of the consequences of stopping the platform on the dollar exchange rates, and the lack of announcement may give the Central Bank an opportunity to evade and evade the decision to stop the platform and return to operating the platform, even temporarily, in the event that the dollar begins to rise to high rates  link

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Tishwash:  Dollar Auction.. What is the truth about stopping the Central Bank’s platform for currency conversion?

A responsible source in the Central Bank of Iraq revealed, on Monday evening, the truth about stopping the Central Bank's platform for currency transfer starting today.

The source told Shafak News Agency, "The talk about the official suspension of the Central Bank's platform for the currency transfer window, on today's date 12/23/2024, is incorrect. Today, the auction worked normally and there is no official decision to suspend it so far."

The source, who requested anonymity, added, “This platform will be stopped at the end of this year, according to what the bank officially announced. This does not mean stopping transfer operations, as some are trying to promote. However, after this step, there will be direct dealings between banks and correspondent banks, and not canceling transfer operations, as is being promoted. The issue is not limited to specific banks, but rather the process will be much broader.”

The responsible source in the Central Bank stated that "many Iraqi banks have the capabilities to deal directly with correspondent banks and operate in accordance with the work of advanced global banking sectors."  link

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Tishwash:  Al-Sudani is considering inviting American companies to work in the port of Faw

 Prime Minister Mohammed Shia Al-Sudani discussed, today, Monday, with the Ministers of Oil and Electricity, in addition to specialized advisors and a number of undersecretaries in the two ministries, extending an invitation to specialized American companies to establish a fixed gas platform in the Grand Faw Port.

Prime Minister Mohammed Shia Al-Sudani chairs a meeting on energy projects.

Prime Minister Mohammed Shia Al-Sudani chaired a meeting today, Monday, on oil and electricity sector projects, in the presence of the Ministers of Oil and Electricity, in addition to specialized advisors and a number of undersecretaries in the two ministries.

During the meeting, the gas projects that are being implemented within the government program were discussed, as well as the timetable set for their completion, especially since there is an increase in the levels of stopping the burning of associated gas, as the percentage currently stands at 67 percent, and it is hoped to reach 80 percent by the end of next year, leading to a complete cessation of burning by the end of 2027.

During the meeting, the invitation to specialized American companies to establish a fixed gas platform in the Grand Faw Port was also discussed.

The meeting discussed inviting international energy companies to invest in natural gas fields, in addition to discussing the plan to supply fuel to power plants at the present time and for the coming months. link 

Mot: . That's an excellent way to look at it  

 Mot: .. So What Do Reindeer Dream About --- 

Christmas Eve Coffee with MarkZ 12-24-2024

Thank you MarkZ for all your time, and encouragement daily….. PDK

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Good morning MarkZ and all!   Merry Christmas everyone

​​Member: What is the chance if we leave our iqd out, Santa will exchange for $$$???

Member: How long can they drag this thing out Mark?

MZ: Right now I have people who are absolutely positive it is happening this week. They are ending auctions in Iraq and I am being told it’s the 28th-which is a Saturday . I think the worst case scenario with People I know is somewhere between now and the 7th…or right after the inauguration.

MZ: Nobody knows the exact timing. Maybe 6-7 in the world may know- but we are not one of those.

Member: Banks - closing down for year end accounting purposes. Think they will RV then or wait until afterwards into 2025 for tax & Trump credit purposes?

Member: I was hoping for Christmas Day? They could send out notifications to book appts to cash in on 28 Dec

Member: Member Ariel just posted that tonight is a very logical night for RV to go.

Member: HOLLY has just reported that her sources suggest that the RV/GCR will initiate on JAN. 6th or 7th which is also Christmas to a lot of people.

MZ: Yes between here and there- I’m feeling good.

​​Member: I’m looking at January then I’ll be pleasantly surprised if sooner.

Member: Soo Iraq is doing RI then RV alone Or going with rest of countries???????!$$$$$$$$

MZ: I still think they are all going at once. I would be happy if they went alone- that would give me a chance to double dip other currencies….but no one I talk to thinks Iraq will go alone.

MZ: “Al Alaq announces the start of an era of digital transformation in Iraqi Banks.”  This is all part of their white papers r economic reforms. Al Alaq saying how successful it is and the final portion of those white papers or the monetary reform is total independence for Iraq and a stronger purchasing power of the Iraqi dinar . AKA a reinstatement of a revaluation.

Mark Z what are your thoughts on Iraq getting 10 day head start on the world, ten we go. Sounds like Iraq may have gone. Just grasping at anything at this point. We definitely need an rv

Member:  Jeff Rahm said last night it has RI in country at $7.88. Consider it a rumor.

MZ: “About 100% foreign remittances in Central Bank of Iraq sales”  What this is telling us is about $280 million is US cash and they have also used other foreign currencies to get dinar off the streets. And they have plans to end the purchases this month.

MZ: “Iraq Stock Exchange first with the volume of trading between Arab Markets”  it lonely launched a year or so ago…..but already it’s the largest trading market in the middle east. This one is huge. They are setting themselves up as a regional leader- a world leader…and what is going to be important?  They need a currency that matches the region. That rate bar is high when you look at Kuwait and Bahrain and ll the other currencies values over there.

Member: Kuwaits dinar value is around $3.40 to USD or more on a usual basis .

Member: I read an article stating that the economic growth will rise from 2.2% to 5.3% in 2025. That’s a huge jump to indicate RV

Member:  Mark is it true that Iraq has rv’d in country many times before?

MZ: At least 3 times in the 1900’s which were very substantial.

Member: (From Dinar Guru) Nader From The Mid East  I feel it's very very, we are very very very very close.  Very close.  Like very close guys.  I feel like once they stop the auctions everybody is going to be happy about it.  I think it's going to be stopping on the 28th...70% to 80% [chance].

MZ: That’s about where I am at exactly……I feel it’s about 80% to happen before Jan 1st.

MZ: “An expected rise in the dollar:  temporary shock awaits the Iraqi market”  this is talking about the end of the auctions –like Nader is saying. One thing that will solve all their worries is an upward reinstatement or revaluation close or higher than the US dollar.

MZ: And there are many here in the US and all over the world that are expecting a value change with the end of the auctions. Not just people on the internet…but folks in government and the banking world as well.

Member: I have heard contractors in Iraq getting paid at $3.91. have you heard this Mark?

MZ: I have heard from $3.47 to $3.92 from contractors.

Member: either one is exciting…..just do it Iraq.

Member: Any news on if we sign an NDA?

MZ: As of late I am hearing no NDA unless you are doing projects.

Member: how many people in the US hold dinar?

MZ: Probably less than 1%? We are a small percent of the economy but we will be able to do great things post RV

Member: Can we go multiple times to exchange?

MZ: I am told you can…but they hope you only go once.

​​Member: I can't decide if we are idiots or geniuses for doing this, but Merry Christmas from my Family to all of yours guys.

MZ: the good news is – if you wait long enough you are a genius….the bad news is –everyday before we win….people think we are idiots.  I am looking forward to the genius part.

Member: ​​In years to come- I want the story of how the RV happened at Christmas!

Member: Merry Christmas friends! May you be BLESSED beyond measure!

Member: Merry Christmas and may God bless us everyone!

MZ: I will be on at noon est tomorrow just for those who want to socialize. Merry Christmas to all.

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

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Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

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THANK YOU MARK, MODS, AND COMM FAMILY!! SEE YOU TOMORROW AT NOON EST. FOR ANOTHER GREAT PODCAST!! UNLESS SOMETHING BIG HAPPENS!!

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Iraq Economic News And Points To Ponder Tuesday AM 12-24-24

Stopping The Dollar Transfer Platform...A Calculated Step Or A Risky Adventure?
 
December 23, 2024  Baghdad/Iraq Observer  The Central Bank of Iraq is scheduled to abandon the electronic platform for dollar transfers abroad at the end of this year,  which has raised questions about whether this decision indicates the abandonment of the Iraqi Central Bank and the US Federal Bank’s mechanisms for monitoring the movement of the dollar,
 
or is it a step towards adopting a new system that may It contributes to reducing sharp fluctuations in the exchange rate and returning it to its natural levels that are consistent with the requirements of the local market and the national economy.

The electronic platform was launched in early 2023 as a new mechanism aimed at auditing dollar transfers before they are implemented, replacing the previous system that relied on auditing by the US Federal Bank after the transfers were completed, which was considered a step to enhance transparency, improve control of the movement of funds, and ensure compliance with financial laws.
 
At that time, banks, companies and merchants in Iraq faced major challenges in adapting to the new mechanism, as it required time to understand the working mechanisms and ensure compliance with the requirements.
 
However, these entities were able to adapt gradually, especially after bank employees underwent extensive training courses on using the electronic platform, which contributed to achieving full compliance with the new work procedures and ensuring the smooth flow of financial operations.
 
According to the new transfer mechanism, banking operations in dollars will be limited to banks that have international banking relationships, or what are known as “correspondent banks.”
 
Concern and reassurance
 
Both the Central Bank of Iraq and the US Federal Reserve believe that this step will contribute to strengthening oversight of remittances in a more precise and specialized manner, by restricting transactions to a limited number of banks that have high banking standards and the ability to cooperate with international banks, which aims to reduce financial risks and ensure Compliance with international controls.
 
In turn, Mustafa Akram, a researcher in financial and banking affairs, said that
 
stopping work on the electronic platform (FITR) and restricting dollar transfers to a limited number of foreign banks may pose challenges to the local banking system, indicating that
 
“this step may raise concerns about the concentration of transactions in dollars.” “In a limited range, which may lead to effects on exchange rate stability.”

Akram added to “Iraq Observer” that  “there is a need for a deeper study of the impact of these measures on competitiveness in the Iraqi banking sector, while emphasizing the importance of preserving banking sovereignty and enhancing balance in the local market.”
 
Possible bounces
 
In light of these movements, news was raised about a trend towards making a new adjustment to the exchange rate, which raised concern among economists about the potential impact of this trend on the economic process in general.
 
Experts stressed that sudden changes in monetary policy may create additional confusion in the markets and weaken confidence in the financial system.
 
For his part, economic expert Uday Al-Alawi stressed that
 
“the biggest mistake the government can make is manipulating the dollar exchange rate through sudden decisions, because this has a direct impact on the national economy and undermines investors’ confidence in the financial system.” Al-Alawi added, in a press comment, that
 
“the government’s continued making of ill-considered decisions regarding the exchange rate will lead to the erosion of international and local confidence in the Iraqi economy, which will weaken the ability to attract the investments necessary to improve the economic reality.”
 
Economists fear the possibility of some banks not included in the transfers going to meet the requirements of their customers towards the parallel market, which could lead to a return to the rise of the dollar in Iraq.   https://observeriraq.net/إيقاف-منصة-تحويلات-الدولار-خطوة-محسوب/   

An expected rise in the dollar...a “temporary shock” awaiting the Iraqi market
 
Economy | Yesterday, 19:49 |
Baghdad today - Baghdad
 
Today, Monday (December 23, 2024), the "Future Iraq" Foundation for Economic Studies and Consultations expected a rise in the dollar exchange rate during the next few days, following the Central Bank of Iraq's announcement of stopping the currency conversion window platform.
 
The head of the institution, Manar Al-Obaidi, said in a statement to “Baghdad Today” that
 
“stopping the Central Bank’s currency transfer platform, which was officially announced on 12/23/2024, will lead to a temporary rise in the dollar exchange rate in the market as a result of the prevailing state of fear.”

However, things will return to normal at the beginning of the new year.” Al-Obaidi added,
 
"This decision had been previously announced by the Central Bank,
 
but such measures, when implemented, cause a shock in the market, leading to a temporary rise in the exchange rate, before the shock is gradually absorbed." He explained that
 
"the difference between the official and parallel market will remain, but it will shrink as the situation stabilizes."
 
On Tuesday (December 17, 2024), economic affairs specialist Nasser Al-Tamimi warned of a rise in the dollar exchange rates in Iraq in the coming days. Al-Tamimi told “Baghdad Today” that
 
 “there are real fears in the Iraqi market about the continued rise in dollar exchange rates after the platform was suspended by the Central Bank of Iraq,” noting that
 
“this matter will constitute a shock, especially at the beginning of the implementation of the decision and will push for a rise.” The dollar, to increase demand for it in the parallel market.” He added,
 
"After stopping the platform, most merchants, especially small ones, will depend on the parallel market to finance their foreign trade, while continuing to finance trade with Iran and Turkey with dollars, in illegal ways," pointing out that
 
"this is what will push the rise and  that is why practical steps must be taken to prevent This is done by the monetary authority in the country, and urgently.”
 
On Wednesday (September 4, 2024), the Central Bank of Iraq revealed the mechanism for ending the electronic platform for external transfers, while
 
indicating that placing external transfer operations and meeting requests for the dollar is on sound paths and consistent with international practices and standards. 
 
https://baghdadtoday.news/264515-ارتفاع-مرتقب-للدولار.-صدمة-مؤقتة-بانتظار-السوق-العراقي.html   

New Conditions From The Iraqi Central Bank For Buying And Selling Foreign Currencies
 
December 23, 2024  Baghdad/Iraq Observer  Today, Monday, the Central Bank of Iraq set new conditions for buying and selling foreign currencies.   Below is the document:  
 
https://observeriraq.net/wp-content/uploads/2024/12/IMG_9748.jpeg   
 
https://observeriraq.net/شروط-جديدة-من-المركزي-العراقي-لبيع-وشر/   
 
 ~~~~~

[approximate and incomplete translation of https://observeriraq.net/wp-content/uploads/2024/12/IMG_9748.jpeg ]
 
DATE:  2024/12/22  Electronic payment companies / two accessories
Exchange and mediation companies selling and selling foreign currencies
5 / Digital payment providers
 
Due to the availability of all the requirements for appointing the agent mentioned in (Chapter Two /
First / The Requirements of the Agent) from controls
The work of the providers of digital payment services for a year 2020 and the fact that exchange companies are my category (A,B) and the mediation companies by selling and selling
Foreign currencies Venice (C) licensed from this bank and is subject to its supervision and monitoring; The following decides:
 
1- Allowing exchange companies Vinte (A,B) and mediation companies to buy and sell foreign currencies (C) Digital payment services / accessories to provide cash withdrawal service (POC) according to the following conditions:
 
1- The agency/ executor in the name of the company should be limited and not owned by natural people.
 
A- The agency's services are provided inside the company’s headquarters and its branches exclusively.
 
B- The company informs this bank when contracting with the digital payment service and providing it with a copy of the signed contract The two parties.
 
C- Closing the agency / port in the event that this bank withdraws the company's leave.
 
D- The agency's domestic payment service for the agency took a written pledge from the company wishing to contract with him not to own any
A shareholder / executive and operating outside the exchange of the exchange or mediation company.
 
2- In the event that one of the shareholders or director of the exchange and mediation companies has an agency / port in his name and works outside the headquarters

The company can integrate the agency / port with the company and allow it to transfer its ownership in the name of the company in exclusivity and inform this bank that
An exception to the blindness of this bank number (114/10/9) on 2/22/2022, which includes not transferring the ownership of agents/withdrawals outlets POC; In the event that the agent / the perpetrator wants to leave the work, the digital payment companies must end the contract and take
The appropriate procedures for them not to sell the agency's ownership and its transmission.
 
With appreciation.  https://observeriraq.net/شروط-جديدة-من-المركزي-العراقي-لبيع-وشر/   

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Tuesday Morning 12-24-24

Good Morning Dinar Recaps,

RIPPLE CEO REVEALS GROWING REAL ESTATE DEMAND FOR XRP TESTING

▪️Brad Garlinghouse revealed that there has been an increase in demand for XRP not only as a payment solution within the real estate sector but also in the trade finance and insurance sectors.

▪️With the financial landscape shifting towards more efficient and secure solutions, Ripple stands at the forefront of this transformation, leveraging the advantages of XRP to enhance cross-border payment systems securely.

Ripple CEO Brad Garlinghouse has revealed that there is an increase in demand for XRP as a preferred payment solution within the real estate sector. Ripple is proactively working to boost the asset’s adoption, recognizing its potential in transforming transaction methodologies.

This growing interest is not only a testament to the efficacy of blockchain technology in facilitating seamless transactions but also highlights the evolving landscape of property sales and investments.

The real estate market has traditionally been bogged down by lengthy processes, high transaction costs, and a lack of transparency, making it a prime candidate for disruption. 

The founder identified other industries ripe for innovation, including insurance, trade finance, and identity management, in the interview shared on X by RippleLord, a Ripple enthusiast.

Ripple’s Payment Network in Real Estate

Ripple and the real estate sector stand to mutually benefit from each other, particularly as there is a growing demand from customers for Ripple’s deeper involvement in trade finance.

Ripple’s solutions have the potential to streamline processes and enhance operational efficiency, particularly in areas like global payments and title management, where inefficiencies have long hindered the real estate industry.

At the core of Ripple’s offerings is Ripple Payments, which was previously named RippleNet and utilizes advanced blockchain technology to facilitate efficient fund transfers for institutions around the world. Brad Garlinghouse emphasized that businesses are keen to explore how Ripple’s cutting-edge solutions can improve cross-border payments and minimize transaction friction. 

This need for modernization is particularly relevant today, as existing payment systems often leave users waiting weeks for transactions and facing high fees.

Ripple Payments provides a decentralized network for banks and financial institutions globally, utilizing products built on the XRP blockchain, such as xCurrent for cross-border payments and xRapid for cheap and fast transactions. 

Ripple seeks to collaborate with traditional financial institutions and real estate companies rather than replace them. Garlinghouse compares Ripple’s transformative potential to the internet’s evolution, noting its ability to change various sectors, including real estate, fundamentally.

As revealed in a CNF article, XRP’s permissionless nature and its On-Demand Liquidity (ODL) feature are particularly advantageous for real estate transactions. ODL enables international payments by using XRP to facilitate more efficient cross-border transactions.

This feature also provides instantaneous settlement, enhanced reliability, and reduced transaction costs, critical elements for real estate deals that often involve multiple currencies.

Currently, Ripple Payments supports over 55 countries and connects to more than 120 fiat currencies, simplifying the management of international transactions for real estate professionals. 

As XRP continues to gain recognition in the payments landscape, each unit is trading at $2.21, with a notable decrease of 2.94% in the last 24 hours. XRP’s trading volume of $ 11 billion has decreased by 9.30%, signaling a recent fall in market activity.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

HOW MOONPAY PLANS TO REVOLUTIONIZE CRYPTO PAYMENTS

MoonPay, a fintech company has become a major player in crypto since its launch in 2018. Led by CEO Ivan Soto Wright, the platform helps investors buy and sell cryptos as well as NFTs easily. It is like a PayPal but for cryptocurrencies. The project is capturing the spotlight as there are news about them acquiring Helio pay, a crypto payment gateway.

MoonPay Role in Crypto Space

MoonPay has launched innovative crypto payment solutions like MoonPay Balance. This is a fiat to crypto transfer tool that works seamlessly with wallets like MetaMask. Rolled out in 27 European countries last month, this feature gives users a straightforward way to interact with decentralized finance (DeFi) protocols. But the company isn’t stopping there. A potential acquisition of Helio Pay, rumored to cost $150 million, might be their next big leap.

Helio Pay Acquisition News

Helio Pay is no small name in the crypto world. The platform is like Coinbase Commerce, helping over 6,000 merchants and creators accept payments in Bitcoin, Ether, and other digital currencies. It even integrates Solana Pay into Shopify, a platform with millions of users globally. This is going to be an amazing combo as MoonPay already serves more than 20 million users in over 160 countries.

According to Eleanor Terrett from Fox Business, MoonPay is in in talks to acquire helio for about $150 million.

If this acquisition goes through, this is going to be a big thing for crypto space especially for e-commerce merchants and their users. MoonPay will get to expand its reach and e-commerce will get enhancement with its services. How great would it be if you could use crypto to buy stuff online just like using a credit card — easy and simple.

Why This Matters

This potential deal highlights MoonPay’s ambitions of making crypto transactions easier for individuals. This will reshape how businesses and users interact with cryptocurrencies. Adding Helio Pay to their portfolio would strengthen their infrastructure. This would finally bring crypto payments into the mainstream. As crypto adoption grows globally, this is the perfect time to bring such enhancements to crypto payments.

What to Expect Next

If the Helio acquisition deal is closed, this will likely spark even more innovations in the crypto payment space. The company already has a bright name because of its focus on easing the crypto payments, the new takeover will shine the name even more. It’s just a matter of time before the actual confirmation comes out.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

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Thank you Dinar Recaps

News, Rumors and Opinions Tuesday AM 12-24-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 24 Dec. 2024

Compiled Tues. 24 Dec. 2024 12:01 am EST by Judy Byington

Judy Note: On Mon. 23 Dec. there was no news about setting exchange/redemption appointments. As far as I know Tier4b needs to exchange before Jan. 1 2025 because that is the date the General Public will be notified that the World is free of the Cabal and (allegedly) on a new Financial System of The People.

I am convinced that the RV is coming to us very soon. Just today on Mon. 23 Dec. 2024 the Iraq Bank of International Trade opened it’s doors. That means the Kingpin of the GCR – the Iraqi Dinar – is international. Think about the implications of that.

I am taking a much needed break and this will be my last Update until after the holidays, unless, of course, Tier4b (us, the Internet Group) receives news about setting our exchange/redemption appointments. If so, I will immediately send out an Update.

I wish you all a very Merry Christmas with a glorious New Year of Freedom from the Cabal.

~~~~~~~~~~

Possible Timing:

On Sat. 14 Dec. 2024 Debt Forgiveness & Wealth Redistribution (allegedly)  Began: millions worldwide reported canceled mortgages, student loans, and credit card debts. Official encrypted messages confirm this is just the beginning.

Sun. 15 Dec. 2024: The beginning of the new Restored Republic Fiscal Year. (allegedly)  

Mon. 16 Dec. 2024: Banks began (allegedly)  changing over to the new financial system as the Global Currency Reset (allegedly)  rolled out.

Tues. 17 Dec. 2024: XRP, RLUSD, Iraqi Dinar went public. Redemption Centers (allegedly)  became fully operational. Banking Systems were (allegedly)  beginning to process the new gold/ asset-backed US Treasury Note (USTN).

Wed. 18 Dec. 2024: Beginning of Global Financial Collapse. …G***o TV on Telegram Tues. 3 Dec. 2024

Mon. 23 Dec. 2024 Trade Bank of Iraq went International.

Thurs. 26 Dec. 2024: Announcement of the Global Restoration Plan. Every citizen will receive information about the new economic and legal structures. …Mr. Pool, Julian Assange on Telegram Wed. 4 Dec. 2024

Mon. 30 Dec. 2024: Final stages of the transition to the new financial system (allegedly)  completed. People will (allegedly)  begin to access their revalued currencies and debt relief programs. …Mr. Pool, Julian Assange on Telegram Wed. 4 Dec. 2024

By Tues. 31 Dec. 2024, Redemption Centers will (allegedly)  be open to the general public.

Wed. 1 Jan. 2025: Basil 4 compliance deadline January 2025 – all banks have to (allegedly)  prove the money they have in their vault is backed by gold. A new era of Freedom and Prosperity officially begins. …Mr. Pool, Julian Assange on Telegram Wed. 4 Dec. 2024

Early Jan. 2025: The EBS is set to begin ten days of Communication Darkness.

Wed. 1 Jan. 2025: The R&R payments and Social Security increases will(allegedly)   begin.

Fri. 3 Jan. 2025: Global Unity announced as former Alliances restructure. Leaders will present plans for long term peace and cooperation across nations. …Nesara/Gesara on Telegram 5 Dec. 2024

Sun. 5 Jan. 2025: Release of (allegedly)  advanced technologies previously suppressed. Free energy devices, healing technologies and environmental restoration tools will be made (allegedly)  available to the public. …Nesara/Gesara on Telegram 5 Dec. 2024

Mon. 6 Jan. 2025: The Quantum Financial System (QFS) will officially(allegedly)   be activated Worldwide. This secure, transparent and decentralized system will replace the old banking structure, ensuring fairness and equality for all …Nesara/Gesara on Telegram 5 Dec. 2024

End of March 2025: The US Fiat Dollar will be(allegedly)   phased out, no longer worth anything.

~~~~~~~~~~~~

Global Financial Crisis:

Mon. 23 Dec. 2024 Dow Hit With Sledgehammer: https://finance.yahoo.com/news/the-dow-gets-hit-with-a-sledgehammer–how-worried-should-you-be-133022256.html

Read full post here:  https://dinarchronicles.com/2024/12/24/restored-republic-via-a-gcr-update-as-of-december-24-2024/

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

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26   The introduction of all these foreign currencies [to transact in for import/export] is the introduction of the international basket where [the dinar] will be paired and the new exchange rate will exist and grow.  I'm excited because they're stopping the CBI auctions and replacing them with value for your currency to deal with other currencies that have their own value...

Jeff   The second half of December was a very critical period to Iraq.  Why?  During the second half of December is when Iraq pauses and suspends their credit and lending practices which work off the value of the country's currency.  If Iraq is going change the value of their currency, they would need to pause and suspend credit and lending practices.  That's why it's important.

"Right Now, Things Are So Out Of Whack It's INSANE" - Mike Maloney

12-23-2024

Are we on the brink of a severe recession—or could the markets somehow keep soaring? In this eye-opening discussion, Mike Maloney and Alan Hibbard unveil the key data points that have signaled every modern recession without fail.

From year-over-year employment metrics to the notorious yield curve inversion, you’ll see why they believe “things are so out of whack it’s insane.”

Plus, learn about the “Blood Indicator,” a little-known composite gauge that’s flashing red, and find out why the Federal Reserve’s early rate cuts could be a sign that they see something lurking just around the corner.

What You’ll Learn:

Which employment trends pinpoint recessions with startling accuracy

Why today’s yield curve inversion is historically deep—and what it means How consumer sentiment is plunging to record lows

The “Blood Indicator” that’s never been wrong Why the Fed’s rate cuts suggest they’re bracing for impact

Whether you’re a seasoned investor or just waking up to the economic storm clouds, this is the data you can’t afford to ignore. Buckle up—something big could be around the corner.

https://www.youtube.com/watch?v=BzmOtc_GmG0

MilitiaMan & Crew-Iraq Dinar News-Electronic Payment for Economic Activities-No Cash-JP Morgan support-And more

MilitiaMan & Crew-Iraq Dinar News-Electronic Payment for Economic Activities-No Cash-JP Morgan support-And more

12-23-2024

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=ahHPUpUhXlY

Iraq News Highlights and Points to Ponder Monday Evening 12-23-24

Expected Rise In The Dollar... "Temporary Shock" Awaits The Iraqi Market

Economy |Today  Baghdad Today – Baghdad  The "Iraq Al-Mustaqbal" Foundation for Economic Studies and Consultations expected, today, Monday, December 23, 2024, an increase in the dollar exchange rate during the next few days, following the announcement by the Central Bank of Iraq to stop the currency transfer window platform.

The head of the institution, Manar Al-Obaidi, said in a statement to "Baghdad Today", that "the suspension of the Central Bank's currency transfer platform, which was officially announced on 12/23/2024, will lead to a temporary rise in the dollar exchange rate in the market as a result of the prevailing state of fear, but things will return to normal with the beginning of the new year."

Al-Obaidi added, "This decision had been previously announced by the Central Bank, but such measures, when implemented, cause a shock to the market, leading to a temporary rise in the exchange rate, before the shock is gradually absorbed."

He explained that "the difference between the official and parallel markets will remain, but it will shrink as the situation stabilizes."

Economic expert Nasser Al-Tamimi warned, on Tuesday (December 17, 2024), of a rise in the dollar exchange rate in Iraq in the coming days.

Al-Tamimi told Baghdad Today, "There are real fears in the Iraqi market of the continued rise in the dollar exchange rate after the Central Bank of Iraq stopped working on the platform," indicating that "this matter will constitute a shock, especially at the beginning of implementing the decision and will lead to a rise in the dollar, to increase demand for it in the parallel market."

He added that "after the platform is stopped, most traders, especially small ones, will depend on the parallel market to finance their foreign trade, while continuing to finance trade with Iran and Turkey in dollars, through illegal means," noting that "this is what will lead to the rise, and therefore practical steps must be taken to prevent this by the country's monetary authority, and urgently."

The Central Bank of Iraq revealed on Wednesday (September 4, 2024) the mechanism for ending the electronic platform for foreign transfers, while indicating that the placement of foreign transfer operations and meeting requests for the dollar are on sound paths and consistent with international practices and standards.  LINK

Parliamentary Committee: Iraq Is Heading Towards A Major Investment And Economic Boom

Economy |Today,  Baghdad Today – Baghdad  The Parliamentary Investment and Development Committee confirmed, today, Monday, December 23, 2024, that Iraq is heading towards a major investment and economic boom during the next stage.                                                                                                                                   

Mohammed Radhi told Baghdad Today, "The stability achieved at the political, security and governmental levels will lead to important and large investment opportunities during the next phase, and this will generate great prosperity at the economic level, and this will lead to an important construction leap in various infrastructures."

Radhi added, "The Iraqi government has achieved successes in the investment file and strengthening the economic and financial conditions, and these successes have been positively reflected in the services, reconstruction and development file, and the next stage will show these successes more clearly through investment and economic prosperity at various levels."

In April 2024, the International Monetary Fund expected the Iraqi economy to grow by 1.4% in 2024 and 5.3% in 2025, and urged structural reforms and debt stabilization.

The Iraqi government also announced a decrease in unemployment from (16.5%) to (14.4%), a reduction in the poverty rate from (23%) to (17%), a decrease in the inflation rate from (6.1%) in 2021 to (2.5%), and an increase in non-oil revenues to (14%), after representing (7%) of the budget.  LINK

Europe 'Displeased' With Trade Volume With Iraq

Money and business  Economy News – Baghdad  The European Union renewed its confidence in Iraq's calm and successful diplomatic steps in light of the tensions witnessed in the region and the world, stressing that the partnership with Iraq is intensive and built on trust.

While he indicated that he is following up and discussing with the government of Mohammed Shia al-Sudani the best ways to implement the vital "Development Road" project for the region and the world, he announced that the (27) member states of the Union, in light of the improvement witnessed by Iraq, are discussing how to facilitate the entry of Iraqis into it, especially for the sake of the economy and academic exchange. 

The EU Ambassador to Iraq, Thomas Seiler, said: “The partnership between the EU and Iraq is intense and built on trust, and there is cooperation in many areas, especially with regard to modernizing the state and democracy, and reintegrating Iraq into the international system in terms of international rules and standards, such as the World Trade Organization.”

 Trade and investment

Sayler expressed his hope for increasing trade and investment exchange with Iraq.[/rtl]

He pointed out that "the volume of trade exchange between the European Union and Iraq is not sufficient yet, it is not even half the volume of Iraq's trade balance with China," stressing that "increasing bilateral trade and European investments in Iraq is one of our main policy goals in 2025."

 Iraq's diplomacy

Regarding regional and global developments, he explained that "the European Union is in continuous consultations with the Iraqi government on regional developments, and we exchange views and try to work together to face challenges, especially the situation in Syria now," expressing "the European Union's great appreciation for the successful position of the Iraqi government to calm tensions."

He also noted that "it is certain that the Iraqi consultations with Iran regarding the security situation in the region have a positive impact," stressing that "no issue in the region can be resolved through violence, but only through diplomacy and dialogue."

European visas

Regarding entry visas for Iraqis to the European Union, Sailer explained that "this is the responsibility of the twenty-seven member states of the European Union," stressing that "the European Union is aware of the increasing positive development of the security situation in Iraq."

We are working with member states to find out how to facilitate the entry of Iraqis, especially for economic and academic exchange," he added.

 Development path

The EU ambassador concluded his remarks to Al-Sabah by saying: “For the European Union, the (Iraqi Development Road) project is a major infrastructure project for the entire region,” indicating that “the Union is actively participating with the Iraqi government and with Turkey to find out the best ways to implement the project, as well as with the participation of the Kurdistan Region of Iraq,” and he stressed that “European companies are working in (the Grand Faw Port) and we want to expand our cooperation.”  139 views  12/23/2024 - https://economy-news.net/content.php?id=51192

During 2025.. Cautious Anticipation Of The Economic And Financial Reality In Iraq

Baghdad Today – Baghdad  WEconomic expert Ahmed Al-Tamimi confirmed today, Sunday (December 22, 2024), that Iraq is heading towards a cautious situation regarding its economic and financial situation during the year 2025.

Al-Tamimi told Baghdad Today: “Expectations and data confirm that Iraq is facing hot events at the beginning of the new year, and these events will have repercussions and reflections on the country’s financial and economic reality, especially with the imminent assumption of the presidency of the White House by US President-elect Donald Trump, and the fear of imposing some sanctions and financial tightening on Iraq in order to limit the smuggling of the dollar as well as limiting the Iranian role through these economic pressures.”

He added, "There is extreme caution regarding the financial and economic reality of Iraq at the beginning of the new year, especially since the Iraqi economic situation is greatly affected by any security or political event, and for this reason everyone is anticipating the coming days, and this matter has led to a decline in the buying and selling of real estate and other valuable items, for fear of any expected economic and financial shock."

The Parliamentary Finance Committee confirmed last Monday that the situation in Syria does not affect the Iraqi economy or the dollar exchange rate in the local market, noting that “the government and the Central Bank have taken several important measures to confront the security and economic challenges in the country, especially in light of the deteriorating situation in Syria.”  LINK

5 Toxic Money Habits You Should Stop Right Now

5 Toxic Money Habits You Should Stop Right Now, According to Financial YouTuber Tae Kim

John Schmoll  Sun, December 22, 2024  GOBankingRates

Managing your finances takes work and commitment. Unfortunately, it’s far too easy to betray our goals through inaction or following certain toxic money habits. In some cases, you may need to get out of your own way and determine actionable goals.

Finance YouTuber Tae Kim concurs, acknowledging that some habits hold us back while others benefit us in his YouTube Video.

These are five bad money habits Kim said Americans need to quit.

Blindly Imitating People Around You

People are social creatures and it’s easy to want to follow those around us. This can be incredibly toxic when you apply it to personal finances. We all have different goals, and blindly following the goals of others can leave you open to costly mistakes.

“Just because our friends spend on fancy cars doesn’t mean we have to. Your money values might prioritize different things,” Kim said.

Instead of merely accepting the goals of your friends, ask yourself what you want, then apply that to spending.

Believing You Can’t

It’s easy to assume that it’s only people with letters behind their names that can succeed with money. That is not true, and following this philosophy can leave people open to making poor financial decisions.

You don’t need an MBA in finance to grow wealth or keep spending in check. “Money is like any other skill you can learn,” said Kim.

You simply need to start with something, such as tracking spending. This knowledge helps eradicate fear and breeds confidence that success is possible. Thankfully, there’s an abundance of free tools available online to help you learn how to manage your finances effectively.

Living in Fear

Fear is a debilitating emotion and is one of the worst toxic money fears. It holds people back from taking action to attack goals. As Kim noted, healthy fear has a time and place but it shouldn’t consume our lives or hold us back.

This can be true with investing. A recent poll from Allianz Life revealed that 53% of Americans were hesitant to invest additional money in the stock market for the foreseeable future. That fear may prevent potential losses, but it also prevents potential gains that may greatly benefit their retirement portfolios.

Losing Track of Your Goals

TO READ MORE:  https://www.yahoo.com/finance/news/5-toxic-money-habits-stop-140232413.html