MilitiaMan & Crew Iraq Dinar News-Commemorative Coin?-Investment Attractive-Dollar Auction Done by End of Year!

MilitiaMan & Crew Iraq Dinar News-Commemorative Coin?-Investment Attractive-Dollar Auction Done by End of Year!

12-30-2024

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=oTtFPLSEhno

Iraq News Highlights and Points to Ponder Monday Evening 12-30-24

Observers: The Central Bank Claims The Success Of Its Monetary Policy Without Any Effect On Reality

Written by: social Baghdad  12-30-2024  The Central Bank claimed the success of its monetary policy in 2024, claiming that the four percent increase in deposits in operating banks is an indicator of the success of the monetary policy.

Observers believe that the Central Bank, which claims the success of its financial policy, must find a new outlet to feed the demand for the dollar without going through the foreign currency auction to eliminate the whales of corruption and preserve the bank’s foreign currency reserves,

stressing that developing the Iraqi stock market increases the absorption of individual savings and hoards and re-injecting them into development and investment projects,

pointing out that the lack of banking awareness and lack of interest in developing the sector contributed to creating a random monetary policy, pointing out that the Central Bank’s claims of the successes it has achieved have no effect on reality.  LINK

A “suspicious” scenario that needs answers: Iraq pays two million dollars a day to Turkmenistan for gas Consumed By Iran?

Posted on 2024-12-29 by sotaliraq  In late 2023, Iraq signed a memorandum of understanding with Turkmenistan to supply gas to Iraq, and in the middle of this year 2024, Iran and Turkmenistan signed a contract to supply Turkmen gas through a “bilateral barter” method for the benefit of Iraq, before Iraq returned after about 3 months to sign the official agreement with Turkmenistan to supply gas via Iran.

The “bilateral swap” is known as Turkmenistan exporting about 25 million cubic meters per day to the northern Iranian territories, which Iran is unable to deliver gas to, then giving Iraq equal quantities of its gas from nearby territories via pipelines, meaning that Iraq buys Turkmenistan’s gas and pays money to Turkmenistan in the amount of 20 to 25 million cubic meters per day and bypasses the issue of sanctions first, then Iran consumes this gas that Iraq paid money to Turkmenistan, in its northern provinces, in return giving Iraq equal quantities of gas from its fields close to Iraq via pipelines.

However, Iran’s continued cutting off of gas to Iraq under the pretext of maintenance and other reasons, without adhering to the contract signed with Iraq, has opened the door to questions and fears that Iraq has fallen victim to a “fraud.” Iraq is obligated to pay money to Turkmenistan for 25 million cubic meters per day, at a value of $2.5 million per day, or nearly $1 billion annually, but in return, Iraq does not impose conditions on Iran, as it seems, in the contract.

This is what economic researcher Ziad Al-Hashemi says, who pointed out that Iran has not only cut off gas to Iraq, but it is also consuming Turkmen gas, which Iraq pays for, and burning and consuming it in its northern provinces.

A dangerous scenario reveals the extent of the negotiating gap, with Iraq not announcing or disclosing the official terms of the contract with Iran or even Turkmenistan, while Alsumaria had previously prepared a report that raised a number of questions about this contract. (You can read it here)

The Al-Sumaria report at the time, which was published in July 2024, described this agreement as carrying many paradoxes, question marks and inquiries.

The first is that Iraq will buy Turkmen gas for Iran, meaning that it will pay its money to Turkmenistan but will never receive this gas. Rather, this gas will go to northern Iran. In return, Iran will give gas in the same quantities, perhaps to Iraq from its local gas at the same time.

Here, Iraq will pay the price of Iranian gas, but without handing over the money to Iran, but rather handing it over to Turkmenistan, which will bypass the issue of sanctions.

Other questions relate to the price of Turkmen gas. Will Iraq buy Turkmen gas at the same price as Iranian gas, or will it pay more money to Turkmenistan in exchange for the same Iranian gas it previously imported?

The third question is whether Iraq will bear the cost of the pipeline extending from Turkmenistan to Iran, considering that Iran does not need to establish this network and import Turkmen gas, but rather it took this step for the benefit of Iraq only, as it can suffice with its local gas and stop it from Iraq and use it for domestic consumption.

Iraq will buy gas that “will never enter its stations”.. Two benefits and 3 suspicious paradoxes of the Iran-Turkmenistan agreement

The third and serious question at the same time is: Will Iran deal with the gas coming from Turkmenistan, which Iraq pays for, as not being gas for exchange that Iran takes in exchange for giving Iraq part of its gas?

In other words, will Iran consider itself a “transit land” for Turkmen gas to Iraq, and thus take additional transit fees? Although this is not what will happen, as Turkmen gas will never reach Iraq, but will be exchanged, meaning that Iran will take it and give Iraq part of its local gas that it has been supplying to Iraq for years.  LINK

Economist: The Decrease In The Actual Value Of The Dinar Will Lead To Inflation

12/28/2024 - Economic expert, Munar Al-Abidi, confirmed that “the value of any currency is determined based on two basic factors: the amount of currency issued, which is the total cash pumped by the central bank, and the size of reserves, which includes foreign currencies, investments, and gold held by the central bank.”

Al-Obaidi said in a tweet seen by (Al-Masry - Today, Saturday), that “at the end of 2023, the amount of currency issued reached 101 trillion dinars, and the value of official reserves reached 145 trillion Iraqi dinars.”

He added, "As for the situation at the end of 2024, the amount of currency issued remained at the same level of 101 trillion Iraqi dinars, and the value of official reserves decreased to 139.7 trillion Iraqi dinars."

He pointed out that "the continued decline in the actual value of the dinar will lead at some point to an increase in inflation as a result of the decline in the strength of the dinar compared to reserves alone. All this while the average price of Iraqi oil was high, so how will things turn out in the event of a decline in oil prices?"

He continued, "The impact on the value of the Iraqi dinar, despite the stability of the issued monetary mass, the decrease in the value of official reserves by 5.3 trillion Iraqi dinars led to a decline in the purchasing power of the dinar, and as a result of this decrease in reserves, the actual value of the Iraqi dinar decreased by 5.3%."  https://almasra.iq/113717/

Tips For A Financially Healthy 2025

Tips For A Financially Healthy 2025

Russ Wiles, Arizona Republic   Sun, December 29, 2024

The economy enters 2025 in reasonably good shape, with a low unemployment rate, modest inflation, a trend toward declining interest rates and strong corporate profit growth that has been giving the stock market a lift.

It's thus not a bad backdrop for getting a fresh start on improving your finances. Here are some trends, issues and tips to mind in coming weeks:

Choose a savings resolution, and stick to it

New Year's resolutions can provide the motivation to improve your financial situation in many ways, such as building up your retirement plan, reviewing your insurance policies or getting started (or updating) an estate plan.

However, the resolution most Americans are focusing on heading into 2025 is more basic: Sock more money into emergency savings. You can hold money in various forms from a money-market mutual fund to laddered bank certificates of deposit (those coming due in intervals such as every three months).

The idea is to have enough liquid cash to meet big unexpected expenses while earning at least a modest yield in the meantime.

In a Fidelity Investments survey, 72% of respondents said they suffered a notable financial setback this year, with nearly half having to dip into their emergency funds to pay for it. It’s thus no surprise that 79% of respondents hope to build up their cash reserves, 38% worry about unexpected expenses and 20% say another surprise could set them back in 2025. Women, more than men, said they didn’t have an emergency fund to dip into, but 80% of them resolved to build one in 2025.

Get relief from a consumer-friendly banking rule

A new rule that could help some of the most hard-pressed consumers is one that mandates lower overdraft fees at banks.

The federal Consumer Financial Protection Bureau in December issued a final rule that it said will cut typical overdraft fees from $35 per transaction to $5, saving an average of $225 annually for the 23 million or so households that pay such charges.

TO READ MORE:  https://www.yahoo.com/finance/news/tips-financially-healthy-2025-130102443.html

With the beginning of the new year, the US dollar enters a new phase in Iraq

KTFA:

Clare:  With the beginning of the new year, the US dollar enters a new phase in Iraq

12/30/2024

US dollar dealers in Iraq are awaiting the arrival of the new year 2025, which is now approaching and will end the work of the electronic platform for monitoring the movement and transfer of currencies outside the country, according to what the Central Bank of Iraq announced.

Financial and banking experts consider the suspension of the dollar selling platform by the Central Bank of Iraq a “bold step” as it has multiple economic and regulatory dimensions, but on the other hand, the suspension of the platform may open the door to new challenges.

Experts confirm that the success of this decision depends largely on how it is implemented. If the Central Bank is able to provide strong regulatory alternatives and ensure comprehensive awareness for traders and importers, it may be able to achieve the desired goals of this step.

However, if the process is not managed carefully, it could have negative effects on the stability of the financial market and the overall economy of Iraq, according to experts.

In detail, Kazem Al-Shammari, a member of the Economic Committee in the Iraqi Council of Representatives, says, “The job of the Central Bank is to maintain the cash reserve and the unified exchange rate, so it is not its job to sell the dollar, but rather it is the job of the banks, but because of the economic situation and legal chaos, the Central Bank has taken control of selling the currency.”

Al-Shammari confirmed to Shafaq News Agency, "The committee is in favor of banks selling the currency, but it must be subject to strict restrictions and monitoring, as there are many uses for the currency, and the US administration has imposed sanctions on many banks because of this matter."

Al-Shammari believes that “there are Arab or foreign banks that receive more than 40 to 50% of currency sales, and this causes great harm to the Iraqi economy. Therefore, we must focus on Iraqi banks that are not sanctioned and are able to deliver the dollar to those who deserve it, including traders and industrialists.”

He pointed out that "the House of Representatives is currently in legislative recess, and after the resumption of the House's work, the Governor of the Central Bank will be hosted in this regard, and work will be done to impose strict control over currency exchange and purchase entities."

 Fear of unexpected obstacles

For his part, the head of the Iraqi Economic Alliance, Adi Al-Alawi, says, “Transfers, whether buying dollars for travel or otherwise, were made through a platform linked between the Central Bank of Iraq, the US Federal Reserve, another company for auditing accounts and information, and the Iraqi banking authority. When any of these four entities stops working, the entire process stops.”

Al-Alawi explained the platform’s working method to Shafaq News Agency, saying, “The transfer goes through a series of stages starting with submitting invoices to the bank, which in turn submits them to the platform, then to the Central Bank, the auditing company, and then the US Federal Reserve, to decide whether to proceed with it or return it. If it approves it, it goes to an intermediary bank, which sends the amount to the beneficiary.”

He added, "These stages have been shortened and the new process has become much easier, as the bank sends the transfer directly to the intermediary bank without going through the Central Bank of Iraq and the US Federal Reserve, while the auditing company remains. Thus, the bank that raises the transfer is the decision-maker and responsible before the Central Bank of Iraq and before the entire global financial sector."

He points out, "But the problem is that the Iraqi banks that have correspondents are only five out of 60 to 70 banks, so only five banks will operate in the next phase, which may cause congestion in withdrawals until things are arranged and organized."

Al-Alawi points out that “the Central Bank’s step is correct and we support it, but the Central Bank does not have real tools and a supervisory authority to rely on, so there is a fear of unexpected obstacles that usually arise during practical application, which requires quick measures and a response to the requirements of reality, which the Central Bank lacks based on previous experiences.”

Pros and Cons

In turn, international economic expert, Nawar Al-Saadi, says, "The suspension of the dollar selling platform by the Central Bank of Iraq is a bold step as it has multiple economic and regulatory dimensions."

Al-Saadi told Shafaq News Agency, "The main goal of this measure, as stated by the Central Bank, is to enhance transparency in financial transfer operations, and reduce reliance on a platform that was considered a primary tool for monitoring the flow of dollars."

He added, "For years, the platform has provided an effective means of regulating dollar sales and ensuring that they are directed to authorized purposes, such as imports and supporting the Iraqi economy, while trying to limit money laundering or smuggling of dollars abroad."

He believes that “this decision is supposed to be part of efforts to improve compliance with international banking standards, by moving to a more direct system in dealings between local banks and foreign correspondent banks, reducing bureaucracy and simplifying financial operations.”

Al-Saadi added, “Also, this decision could help reduce the operational costs associated with maintaining and managing the platform itself, which could be interpreted as a positive economic step towards rationalizing resources.”

But on the other hand, stopping the platform “may open the door to new challenges, such as the possibility of increasing reliance on the black market to obtain dollars, especially if there are no clear mechanisms to ensure that dollars reach traders and importers,” says Al-Saadi.

“This could lead to a rise in the exchange rate of the dollar against the Iraqi dinar, which would put pressure on local prices and raise inflation rates. In addition, small traders may find themselves in a difficult situation, as their reliance on the platform provided them with easy access to foreign currency,” he added.

Another challenge that may arise, according to Al-Saadi, is “the issue of the lack of strict oversight that the platform used to provide, as the platform allowed for close monitoring of financial transfers, thus reducing illegal activities such as money laundering or terrorist financing.”

“In the absence of an effective alternative, there may be a risk of these activities increasing, putting Iraq in a sensitive position on the international financial scene,” Al-Saadi said.

The international economic expert confirms that "the success of this decision depends largely on how it is implemented. If the Central Bank can provide strong regulatory alternatives and ensure comprehensive awareness for traders and importers, it may be able to achieve the desired goals of this step."

“However, if the process is not managed carefully, it could have negative effects on the stability of the financial market and the overall economy of Iraq,” Al-Saadi said.

Potential damage to the economy

The financial and economic researcher, Diaa Al-Mohsen, agrees with what Nawar Al-Saadi said about the potential damages, whether to Iraqi traders or to the Iraqi economy in general, as a result of stopping the platform.

Regarding the most prominent damages, Al-Mohsen explained to Shafak News Agency, "It is likely that the suspension will lead to an increase in demand for the dollar in the parallel market, which will push its price to rise significantly."

He added, "There is also a negative impact on the economy, which may lead to an increase in the prices of imported goods and services, which in turn leads to an increase in the inflation rate and a reduction in the purchasing power of citizens."

He added, "In addition to the decline in commercial activity resulting from traders' reluctance to import due to high shipping costs, which leads to a shortage of goods in the markets and an increase in their prices."

"There may also be difficulty in obtaining the dollars needed to import goods, which affects their business," Al Mohsen added.

Al-Mohsen points to the possibility of “an increase in unemployment rates as well, given that any slowdown in business activity results in increased unemployment, especially in sectors that depend on imports, which may generate social unrest such as protests and demonstrations.”

He points out that "the damages may not appear immediately, and may take some time to fully appear, noting that the severity of these damages depends on many factors, such as the duration of the suspension, the economic policies followed, and the general economic situation of the country."

To avoid damage to the monetary authority, the financial and economic researcher calls for the importance of “taking alternative measures, such as gradually increasing the supply of dollars in the market, facilitating procedures for obtaining dollars for traders, and supporting the affected economic sectors.”

The possible reasons for stopping the platform, according to Al-Mohsen, are “an attempt to control the parallel market, as the Central Bank wants to reduce the difference between the official and market exchange rates by reducing the supply of dollars in the market.”

Al-Mohsen adds that it also "represents a step to reduce corruption and tax evasion, and the Central Bank of Iraq is also trying to protect foreign reserves from depletion."

Platform Termination Statement

According to a statement by the Central Bank on September 4, the electronic platform for foreign transfers began at the beginning of 2023 as a first phase to reorganize financial transfers in a way that ensures proactive oversight of them instead of subsequent oversight by the Federal Reserve auditing daily transfers.

The statement added that this was "an exceptional measure, as the Federal Reserve does not usually do this, and a gradual shift was planned towards building direct relationships between banks in Iraq and foreign correspondent and approved banks, mediated by an international auditing company to conduct a preliminary audit of the transfers before they are executed by correspondent banks."

He continued: "During the year 2024 and until now, 95% of the transfer process from the electronic platform to the correspondent banks mechanism directly between it and Iraqi banks has been achieved, which means that only about 5% of it remains within the platform, which will be transferred using the same mechanism before the end of this year and according to the plan."

The statement of the Central Bank of Iraq indicated that "some expectations about possible effects on the exchange rate and transfer operations are baseless, because the process will not be sudden or in one payment at the end of this year, but rather it was achieved in the past period with effort and careful follow-up, except for the remaining small percentage that will be accomplished in the coming short period."

The Central Bank of Iraq confirmed that trade with the UAE, Turkey, India and China represents about 70% of Iraq's foreign trade as imports, which prompted the Central Bank of Iraq to find channels for transfer in euros, Chinese yuan, Indian rupees and UAE dirhams, through approved correspondent banks in those countries.

He added in this regard: "13 Iraqi banks have actually started conducting transfer operations with the prior audit mechanism that has been agreed upon and approved, in addition to transfers in dollars, with the provision of channels for personal transfers for legitimate purposes and external purchases through electronic payment channels and international money transfer companies and cash sales to travelers, and the payment of cash dollars for incoming transfers to the parties and purposes specified in the Central Bank's published instructions."

The bank noted that it has placed foreign transfer operations and meeting dollar demands on sound paths consistent with international practices and standards and the Anti-Money Laundering and Terrorist Financing Law.

The Central Bank’s statement concluded that “providing the aforementioned channels for all purposes at the official dollar price makes this price the true indicator of economic practices, which is proven by the reality of price stability and control of inflation.

Any other price traded outside of these channels is an abnormal price that those with unorthodox or illegal practices resort to, who avoid official channels in their dealings, and bear the additional costs alone by purchasing at a higher price than the official price to deceive others about the difference between the official price and the other.”  LINK

Monday Evening News With MarkZ 12-30-2024

Monday Evening News With MarkZ

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 evening one and all. There are sure a plethora of rumors everywhere!

Member: Mark …can we celebrate yet??

MZ: from the Central Bank of Iraq today…..has us excited. I think it tells us a lot about timing.

MZ: “In continuation of circular # 3449 dated 1-15-2024 regarding the unification and updating of controls and instructions related to the standards for circulation and replacement of bank notes. We attach to you the principal standards and instructions for that will be adopted in the counting, sorting , receipt and delivery of bank notes. To be implemented starting from 1-2-2025 with appreciation That is supposed to continue and be completed 1-15-2024 (2025?)

MZ: they are saying they will be issuing the instructions related to the standards of circulation and the replacement of banknotes…..which has folks excited. .

Member: hopefully the replacement notes mean lower denominations.

Member: So did auctions stop at the CBI?

MZ: They are getting ready to move auctions from the CBI to the banks…We are very close.

MZ” “Iraq to end currency auctions by start of 2025” over the next few days we are going to see so many changes…buckle up.

MZ: “With the closure, new rise in exchange rates in local markets” there are fluctuations going right now with the shutting of the auctions. The cure will be the rising of the rate in the Iraqi dinar. .  

MZ: “Tsunami in Iran’s currency and gold markets: Warnings of economic collapse”  For A US dollar in Iran- you could buy $850,000 rials.   This is nuts.

MZ: “Iraq central bank reports growth in gold reserves, low inflation”  They have the lowest inflation in the region. They want to support their currency with assets and a basket of currencies and gold. The last time a country did that in the area was when Kuwait revalued.

MZ: “US Stock markets to close Jan 9 on Carter day of mourning” The New York Stock Exchange announced that it would cease trading on Wednesday to mark the national day of mourning

Member: Per the recommendation of the Securities Industry and Financial Markets Association it’s a long standing tradition to close the markets aft the death of a President.

Member: The NYSE and Nasdaq traditionally close during the funerals of former presidents. When former President George H. W. Bush died on Nov. 30, 2018, U.S. markets closed on Dec. 5.

MZ: What I am getting from my bond contacts ….I spoke to two who say they will settle their bond contracts between the 2nd and 9th of January. They expect to have money in hand before the 9th.

Member: I think notifications this week- Wednesday night into Thursday morning!!!!!

Member: With no ascension to the WTO, no HCL and the US still having sanctions on, which means they are not a sovereign country, can the RV still happen on/ before the 2nd?

Membr: Mark said last week he thinks it would all happen at the same time.

Member: The Iraqi people must know what’s going on, and they are probably more anxious than any of us! This great blessing is needed for the people there!

Member: My small Wells Fargo branch just got remodeled…..used to have 6 teller windows….now just 2 but a bigger waiting room

Member: Chase bank in AZ now offers 100’s at ATM with a daily limit of $3,000

Member: I have a bank story today @ Chase in W Palm Beach. I asked the teller if he knew about the QFS and he said yes with a big smile and said it's going to be awesome!

Member: Wishing all a Happy New Year, praying it will bless all of you like no other year has.

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

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

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.

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

Youtube:     https://www.youtube.com/watch?v=M3A_cg_ByIM

Iraq Economic News and Points to Ponder Monday Afternoon 12-30-24

40 Trillion Dinars Is Iraq's Internal Debt.. Does The Government Have The "Key" To Repay It?

Time: 2024/12/30 17:56:16 Reading: 819 times  {Politics: Al Furat News} Member of the Parliamentary Finance Committee, Jamal Kojer, revealed Iraq’s internal debts, which exceeded 40 trillion dinars.

Kocher told {Euphrates News} that: "Regarding Iraq's internal debts, the numbers speak of more than 40 trillion, and the majority of the debts belong to the government banks, Rafidain, and TBI."

He added, "The government is now able to pay these debts if it opts for withdrawing them from the bank reserve.

" Kocher stressed "the need to schedule debt repayment as a result of the banks' role parallel to the government's role in providing job opportunities and supporting the private sector."

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, announced that Iraq has exited the risks of external debts, and that (Iraq) is a well-fortified country.

He stressed that the ratio of debts to the gross domestic product does not constitute a burden on the state, as it amounts to (5) percent of the gross domestic product, and is confined within the (government banking) system.  LINK

Exchange Rates Rise In Baghdad, Stabilize In Erbil With Closure

Economy  | 12/30/2024  Mawazine News - The US dollar rose against the Iraqi dinar in Baghdad markets on Monday, while it stabilized in Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.

The dollar also rose with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 151,750 dinars per 100 dollars, while it recorded 151,600 dinars per 100 dollars this morning.

Selling prices rose in exchange shops in local markets in Baghdad, where the selling price reached 152,000 dinars per 100 dollars, while the purchase price reached 151,000 dinars per 100 dollars.

In Erbil, the dollar recorded stability, where the selling price reached 151,700 dinars per 100 dollars, and the purchase price reached 151,600 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=258060

Iraqi Oil Stabilizes At High Level At The Beginning Of Year-End Trading

Economy  | 12/30/2024  Mawazine News - Follow-up of  the Iraqi oil record at the beginning of the end of the year's trading, today, Monday, stability at an increase during the opening of the week's trading in global markets.

According to economic data, Basra Heavy crude recorded $70.19 per barrel, while the average recorded $73.29 per barrel, with a change of -0.16, respectively, for February 2025 delivery.

The data also showed an increase in global crude prices, with British Brent crude recording $74.30, while US West Texas Intermediate crude recorded $70.66 per barrel, with a change of +0.13 and +0.05, respectively.  https://www.mawazin.net/Details.aspx?jimare=258046

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, Monday.

Gold prices in the wholesale markets on Al-Nahr Street in Baghdad this morning recorded a selling price for one mithqal of 21 karat Gulf, Turkish and European gold of 556 thousand dinars, and a purchase price of 526 thousand dinars.

The selling price of one mithqal of 21-karat Iraqi gold reached 526 thousand dinars, and the purchase price was 522 thousand dinars.

As for gold prices in goldsmiths’ shops, the selling price of a mithqal of 21-karat Gulf gold ranges between 560,000 and 570,000 dinars, while the selling price of a mithqal of Iraqi gold ranges between 530,000 and 540,000 dinars.  82 views 12/30/2024 - https://economy-news.net/content.php?id=51436

Sudanese Advisor Reveals Government's Philosophy For Future Of National Economy

Time: 2024/12/30 Read: 1,131 times   {Economic: Al Furat News} The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the government’s philosophy for the future of the national economy, represented by the idea of ​​establishing a sovereign wealth fund.

Saleh told {Euphrates News} that: "The initiation of the idea of ​​a sovereign wealth fund is essential and is consistent with the renaissance of natural resources and undoubtedly comes in parallel with the development path strategy and its outcomes in generating a leading industrial renaissance in the national economy. This is Iraq's outline in building the future of its economy for the twenty-first century and in two directions {the export-oriented development model and the other, and the development model directed towards maximizing the input-output tables and replacing imports within the national economy}.

He added, "Therefore, the sovereign wealth fund will adopt a vision that expresses the strength and basis of the interconnections between the outputs of national wealth from natural resources and the inputs of the production function in the national economy, which requires another model in managing sovereign wealth funds directed towards the interior."

Saleh explained that "the sovereign fund will work to accelerate the diversification of the three basic sectors, which are the manufacturing industry, agriculture and services, in an advanced digital age. This is what the government program aspires to in its philosophy for the future of the national economy, which did not neglect the idea of ​​partnership between state activity and market activity in sustainable development."  LINK

Exchange Rates Rise In Baghdad, Stabilize In Erbil With Closure

Economy  | 12/30/2024  Mawazine News - The US dollar rose against the Iraqi dinar in Baghdad markets on Monday, while it stabilized in Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.

The dollar also rose with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 151,750 dinars per 100 dollars, while it recorded 151,600 dinars per 100 dollars this morning.

Selling prices rose in exchange shops in local markets in Baghdad, where the selling price reached 152,000 dinars per 100 dollars, while the purchase price reached 151,000 dinars per 100 dollars.

In Erbil, the dollar recorded stability, where the selling price reached 151,700 dinars per 100 dollars, and the purchase price reached 151,600 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=258060

Iraqi Ports Announces 2024 Achievements: Electronic Automation And Increase Of Revenues To One Trillion Dinars
Economy   | Mawazine News - The Iraqi General Company for Ports announced,  Today, Monday, the most prominent achievements for the year 2024, which included the introduction of electronic automation and the implementation of reform measures in port work, which contributed to raising port revenues to exceed the barrier of one trillion Iraqi dinars.

The company's general manager, Farhan Al-Fartousi, confirmed during a press conference that "work on the Grand Faw Port project has achieved remarkable progress, as the completion rate of the five projects in the port exceeded 80%. He also pointed to the start of the operating phase through the competition of 11 international companies to operate Container Terminal No. 1."

Al-Fartousi added that the number of ships that entered Umm Qasr Port during the current year exceeded 3,000 ships, while the number of containers exceeded 1.8 million containers, which reflects the development in port performance and the achievement of a qualitative leap in the management of Iraqi ports.   https://www.mawazin.net/Details.aspx?jimare=258062

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

7 Financial New Year’s Resolutions for Gen Z

7 Financial New Year’s Resolutions for Gen Z

Ashley Donohoe   Mon, December 30, 2024  GOBankingRates

The Fidelity Investments 2025 Financial Resolutions Study found that Gen Zers came in second behind millennials for feeling financially optimistic, making plans to reach financial goals and being willing to set resolutions. However, some in this group struggle with paying off student debt, lack sufficient savings and have a hard time managing expenses.

If you’re an adult Gen Zer, starting 2025 with some smart money goals can help improve your financial stability and prepare you for big decisions, including buying a home and starting a family.

Learn the Basics of Money

Since financial literacy is very important for achieving goals, a good 2025 resolution is learning the basics of budgeting, handling debt, saving, investing and managing risk. However, Gen Z is often prone to using social platforms like TikTok to get money advice that might not be accurate. In fact, TikTok is one of the most popular sources for Gen Z to get financial information, as reported by CNBC.

While some of this information can be helpful, Gen Zers may be better off turning to reliable sources, such as financial advisors or mentors, bank financial education portals, expert videos, and personal finance books. Universities and government agencies also often provide financial education courses and other resources.

Live On a Realistic Budget

The Fidelity study also found that Americans in all age groups struggled with inflation and everyday bills. But with many in college or early in their careers, Gen Zers can particularly struggle and rely on extra money from parents to help cover housing and other essentials.

Improving financial stability in 2025 will require making a budget that wisely allocates income and avoids splurging on luxuries that hinder financial goals. It’s then necessary to live on that budget and change financial behaviors when spending appears to get out of control.

You might find keeping this resolution easier with apps like Goodbudget and Rocket Money.

Fill Up an Emergency Fund

According to the 2024 Bank of America Better Money Habits survey, 57% of Gen Z respondents lacked a three-month emergency fund, which is commonly viewed as the minimum recommendation. Not having one not only increases financial stress but also puts Gen Zers at a bigger risk of building up credit card debt.

To prepare for unexpected expenses, consider a New Year’s resolution of setting up a high-interest savings account and contributing regularly until you’ve built up at least three months’ worth of expenses. That money should stay put until it’s needed for true emergencies — such as medical bills or big repairs — rather than unnecessary splurges.

Tackle Student Loans and Credit Cards

TO READ MORE:  https://www.yahoo.com/finance/news/7-financial-resolutions-gen-z-130106706.html

“Tidbits From TNT” Monday 12-30-2024

TNT:

Tishwash:  Economic Advisor: Our country is ranked ninth in the world in natural resources

The economic advisor to the Prime Minister, Mazhar Mohammed Salih, said, “What the economic policy in our country aspires to is thinking outside the box and providing sustainability in the current account surplus of the Iraqi balance of payments.”

He added, “This comes through investment expansion in natural resources, manufacturing them, and preparing them for export, which provides returns that help establish a sovereign wealth fund.”

Saleh pointed out in a press statement followed by (Al-Masry - Today, Sunday), that "the most appropriate model is to generate a sovereign wealth fund {directing its investments towards internal opportunities} and according to a different vision; because our country is ninth in the world in terms of the diversity of its natural resources in the earth's interior and first in the world in terms of the concentration of wealth in one square kilometer."  link

Tishwash:  Central Bank records 'significant growth' in Iraq's gold reserves

The Central Bank announced, on Sunday, that it recorded a significant growth in the country's gold reserves, while it considered the inflation rates in Iraq to be the lowest in the region during the months of August and September, of the year 2024, which is about to end.

This came in a statement issued by the bank regarding the positive indicators it achieved for the third quarter of 2024 compared to the same quarter in 2022 and 2023, considering that this reflects the success of the monetary policy adopted by the bank during 2024.

The Central Bank of Iraq confirmed that the total deposits in banks operating in Iraq recorded a growth of (4.2%) in the third quarter of 2024, as their value amounted to (127.6) trillion dinars, compared to their value of (122.4) trillion dinars in the third quarter of 2023. In contrast, the cash credit granted by public banks recorded a growth of (11.6%) in the third quarter of 2024, as its value amounted to (72.7) trillion dinars, compared to its value of (65.1) trillion dinars in the third quarter of 2023.

The bank stated that deposits in private banks operating in Iraq recorded a growth of (14%) in the third quarter of 2024, as their value amounted to (18.7) trillion dinars, compared to their value of (16.4) trillion dinars in the third quarter of 2023. In contrast, cash credit granted by private banks achieved a growth of (15.1%) in the third quarter of 2024, as its value amounted to (12.2) trillion dinars, compared to its value of (10.6) trillion dinars in the third quarter of 2023, noting that these rates reflect the increased confidence of economic units in private banks operating in Iraq.

The statement added that private sector deposits in banks operating in Iraq recorded a growth of (3%) in the third quarter of 2024, as their value amounted to (56.1) trillion dinars, compared to their value of (54.4) trillion dinars in the third quarter of 2023, indicating that cash credit granted to the private sector by banks operating in Iraq achieved a growth of (8.6%) in the third quarter of 2024, as its value amounted to (42.8) trillion dinars, compared to its value of (39.4) trillion dinars in the third quarter of 2023, stressing that this increase reflects the increased confidence of the private sector in banks operating in Iraq.

The bank revealed that the narrow money supply in Iraq recorded a growth of (4.1%) in the third quarter of 2024, as its value reached (158.6) trillion dinars, compared to its value of (152.4) trillion dinars in the third quarter of 2023. In contrast, the broad money supply in Iraq recorded a growth of (3.3%) in the third quarter of 2024, as its value reached (179.8) trillion dinars, compared to its value of (173.9) trillion dinars in the third quarter of 2023.

He added that the gold reserves of the Central Bank of Iraq recorded a significant growth of (57%) in the third quarter of 2024, as their value reached (16.8) trillion dinars, compared to their value of (10.7) trillion dinars in the third quarter of 2023.

The Central Bank noted that the annual inflation rates in Iraq are among the lowest annual inflation rates in the countries of the region for the months of August and September of 2024, as the rest of the percentage is acceptable at (3.7%) and (3.1%) respectively, which reflects price stability and the success of monetary policy in Iraq.  link

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Tishwash:  The Central Bank announces the positive indicators achieved in the third quarter of 2024

The Central Bank of Iraq announced, today, Sunday, the positive indicators achieved in the third quarter of 2024.

A statement by the bank, received by the Iraqi News Agency (INA), stated that "the total deposits in banks operating in Iraq recorded a growth of (4.2%) in the third quarter of 2024, as their value amounted to (127.6) trillion dinars, compared to their value of (122.4) trillion dinars in the third quarter of 2023, while cash credit granted by public banks recorded a growth of (11.6%) in the third quarter of 2024, as its value amounted to (72.7) trillion dinars, compared to its value of (65.1) trillion dinars in the third quarter of 2023."

The bank stated that "deposits in private banks operating in Iraq recorded a growth of (14%) in the third quarter of 2024, as their value amounted to (18.7) trillion dinars, compared to their value of (16.4) trillion dinars in the third quarter of 2023, while cash credit granted by private banks achieved a growth of (15.1%) in the third quarter of 2024, as its value amounted to (12.2) trillion dinars, compared to its value of (10.6) trillion dinars in the third quarter of 2023," noting that "these rates reflect the increased confidence of economic units in private banks operating in Iraq."

He added, "Private sector deposits in banks operating in Iraq recorded a growth of (3%) in the third quarter of 2024, as their value amounted to (56.1) trillion dinars, compared to their value of (54.4) trillion dinars in the third quarter of 2023," indicating that "cash credit granted to the private sector by banks operating in Iraq achieved a growth of (8.6%) in the third quarter of 2024, as its value amounted to (42.8) trillion dinars, compared to its value of (39.4) trillion dinars in the third quarter of 2023, stressing that this increase reflects the increased confidence of the private sector in banks operating in Iraq."

The bank revealed, according to the statement, that "the narrow money supply in Iraq recorded a growth of (4.1%) in the third quarter of 2024, as its value reached (158.6) trillion dinars, compared to its value of (152.4) trillion dinars in the third quarter of 2023, while the broad money supply in Iraq recorded a growth of (3.3%) in the third quarter of 2024, as its value reached (179.8) trillion dinars, compared to its value of (173.9) trillion dinars in the third quarter of 2023."

He added, "The gold reserves of the Central Bank of Iraq recorded a significant growth of (57%) in the third quarter of 2024, as their value amounted to (16.8) trillion dinars, compared to their value of (10.7) trillion dinars in the third quarter of 2023," stressing that "the annual inflation rates in Iraq are among the lowest annual inflation rates in the countries of the region for the months of August and September of 2024, as the rate remained acceptable at (3.7%) and (3.1%) respectively, and this reflects price stability and the success of monetary policy in Iraq."  link

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Tishwash:  Iranian source to Baghdad Today: Al-Sudani to visit Tehran soon

A responsible source in the Iranian presidential office revealed, today, Sunday (December 29, 2024), an upcoming visit by Iraqi Prime Minister Mohammed Shia al-Sudani to the capital, Tehran.

The source said in an interview with Baghdad Today, "Al-Sudani will visit Tehran, and this visit is likely to be in the first half of January 2025, and we are coordinating with the Iraqi side regarding this visit."

He pointed out that "the visit of Al-Sudani and the accompanying ministerial delegation will focus on the situation in the region, especially in Syria after the fall of President Bashar al-Assad's regime at the hands of extremist groups on December 8."

Al-Sudani's last visit to Tehran was on May 22, to participate in the funeral of the late Iranian President Ebrahim Raisi, who was killed in the crash of his presidential plane in northwestern Iran on the 19th of the same month.

On September 11, Iranian President Masoud Pezeshkian visited Iraq for a three-day visit during which he met with officials in Baghdad. He then went to Erbil, Sulaymaniyah, Najaf, and Karbala, concluding his visit in Basra Governorate in the far south of Iraq.  link

Mot: Men are so Simple

Mot:  and Yet another ""Marital Tip"" frum ole ""Mot""

“Coffee With MarkZ” Monday Morning Chat 12-30-2024

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…. Will we be ringing in the New Year with a new rate??

Member: Have the auctions ended yet in Iraq?

Member: An article and other intel folks say they have….. CBI announced yesterday auctions have ended??

Member: Frank 26 did a special "YoubieTubey" last night to announce the end of the auctions. They are done!

Member: Article yesterday:  After 20 years since the start of this procedure, Ammar Khalaf, Deputy Governor of the Central Bank, confirmed in a statement to the 964 Network that the dollar platform has become closed!  12/29/2024Maysoun Al Shaheen - 964 The matter has been settled.. Iraq will no longer offer its precious dollars in the controversial dollar auction, or what was called the foreign currency sales

MZ: Today in Iraq- Monday December 30th…..the auction was $279 million 695 thousand 336 dollars. So there was an auction today.

Member: Maybe it was a private bank that had that auction???

Member: MilitiaMan says Sudani and Soliel say it will be on Jan 2….woohoo

MZ: that is pretty close to what we are being told right now. ….there is so much coming together

Member: My IMF contact is saying the 2nd

MZ: They are not the only ones looking at that date.

Member: I thought they had to go by the 31st or their contracts would be null and void?????

Member: If everything happens by Jan1- we may get notifications on the 2nd???  Fingers crossed.

Member: I believe the countdown is on….

MZ: ”With the beginning of the new year-US dollar enters new phase in Iraq” They are talking about the changing of the auction system and how things are going to work.  In the next couple of days the system will go from 95% to 100% during that timespan. There is pure gold in the articles today on that change in the system that is coming to Iraq

MZ: “Financial liquidity delays the payment of salaries to Iraqi employees” In the next couple of days they will have full access.

MZ: “Iraq in the list of the most attractive countries for investments” in the last 2 years they have gone from the bottom of the list to the top of the list. We are watching the economic reforms that they told us about in their white paper reforms. And part of that is to make the dinar more valuable. To return the dinar to its former glory as the most valuable currency in the world…...

Member: sounds like a reinstatement to me!

Member: Always remember that Iraq is 9 hours ahead of us… if you live in the central time zone.

MZ: Look at the currency values of the other countries in the middle east. Look at the basket…..things are getting fun.

MZ: We do not have any bond of group news yet today. A number of people are expecting updates today between 2 pm and 7 pm. So I expect news this afternoon ….

Member: Mark- did you take part in the Kuwait RV?

MZ: No, but I have older people I know and respect that tried to get me to do it…..and I didn’t ….those people did exceptionally well. Do I feel like an idiot for not investing…yes I do…..It was a wake up call for me. I will not let Iraqs RV pass me by.

Member: Happy bank story, A very close personal friend who's a bank manager shared they're ready to exchange 01/01

Member: Our state run bank has changed their ATM and the bank is considering offer wealth management Svcs!

Member: I wonder -How can the U.S. get switched to the new gold-backed USN before Trump in Office?

Member: I still don’t think we get notified until after the inauguration…….hope I’m wrong.

Member: It’s like the expectant father waiting for the baby to be born … you know an expected date but the waiting sucks.

Member: Feeling good about this week!

Member: Everyone stay positive! Words have power!!!

Member: Dust off your dinars folks.

Member: All of you mods are awesome! Thanks for always being here for Mark and us!

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

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

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.

 ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

Twitch:   https://www.twitch.tv/theoriginalmarkz

Youtube:     https://www.youtube.com/watch?v=5UCZYUCoCww

News, Rumors and Opinions Monday 12-30-2024

Ariel: Iraqi Dinar Auctions are No More

12-30-2024

Game. Set. Match.

Ladies & Gentlemen

Start Your Engines

Majeed:  No more auction anymore …It is done …..Ding dong … the auction’s Witch is gone ……Ding dong … the auction is done…. they adopted the new financial system

 “The matter has been settled.. Iraq will no longer offer its precious dollars in the controversial dollar auction, or what was called the foreign currency sales window and the electronic platform. After 20 years since the start of this procedure, Ammar Khalaf, Deputy Governor of the Central Bank, confirmed in a statement to the 964 Network that the dollar platform has become closed in compliance with the date set by the governor to close it at the end of 2024.

 Khalaf denied all rumors about the possibility of extending the platform's work, and spoke with great positivity, reassuring the market and consumers that the overwhelming majority of traders have already adapted to the new system in which the Central Bank does not provide direct dollars to traders. But what will happen?!

Brothers Technology:  Iraqi Citizens you’re hours away from your NEW LIFE LOVE YOU’LL God Bless Importance of Currency Auctions ending….. “Under the new system Traders will have to deposit their money in DINARS in IRAQI BANKS THAT HAVE ENTERED PARTNERSHIPS FOREIGN BANKS ====== International DINAR WHICH NEEDS A INTERNATIONAL EXCHANGE RATE!!!!!!!!!

https://dinarchronicles.com/2024/12/29/ariel-prolotario1-iraqi-dinar-auctions-are-no-more/

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

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

Militia Man  We have numerous articles...from Alaq from as far back as 2023, specifically saying this year they will cease the auctions.  That would be by the end of the year.  This isn't something new.  They've been warned.  It's  coming to fruition.   

Frank26   What is Article 12 of the IMF?    The rate.  That's exactly what it is...The IMF demands a country has a currency that can move in and out of the country.  The IMF demands all currencies around the world have the ability to go into this country and also exit.  That's article VIII.  Article VIII is the freedom of that nation's currency to move in and out and other foreign currencies that are in there as well too.  Article VIII removes all restrictions...We're way past Article VIII.  We're at Article 14...Implementation of the new exchange rate.

Most Dangerous Time Since WW2: Can Disaster In 2025 Be Prevented? | Steve Hanke

David Lin:  12-29-2024

Steve Hanke, Professor of Applied Economics at Johns Hopkins University, discusses the biggest economic themes and coming changes of 2025.

0:00 - Intro

1:30 - Economic outlook for 2025

9:00 - Bitcoin Strategic Reserve

17:30 - Changing crypto regulations

21:30 - Preventing a slowdown?

28:00 - Fed and inflation

 33:45 - Tariffs and inflation

39:00 - Bond market

41:00 - Overpriced, overvalued, overhyped

https://www.youtube.com/watch?v=oq8BpG38O3Y

Iraq News Highlights and Points to Ponder Monday AM 12-30-24

Iraq On The List Of Countries Most Attractive To Investments

Economic  12/30/2024  Within two years, thanks to government measures, Iraq achieved a foreign investment inflow of more than $62 billion, placing it on the list of countries most attractive to investments.

Experts believe that the security and political stability that the country is experiencing was an important factor in achieving this boom, pointing out that the growth in investments came as a result of the country avoiding economic recession and financial problems, while they stressed the need to invest in this attractive feature in selecting only giant and solid companies to work inside Iraq.

Economic consultant and researcher Imad Al-Muhammadawi considered this growth a “positive initiative” that places the country among the ranks of economically important countries and countries that attract investment after China, Singapore, Brazil and other important economic countries, and in the top ranks in the Arab world, calling for the need to diversify investments in the economic and service sectors, especially the housing sector. And energy.

Effective Step

Al-Muhammadawi added to Al-Sabah that “the recent openness that the country is witnessing at all levels was coupled with structural reforms carried out by the government, which represent an effective step in the right direction, contributing to the country entering a new phase of development and economic growth,” considering it “an opportunity to prove the return of Iraq’s role as an effective and influential player in the region due to its strategic location and the promising human and environmental potential it abounds in.”

Development Path

Al-Muhammadawi said: “Investments can prepare the country and prepare it to enter into the important strategic project known as the “Development Road,” which contains ambitious plans that serve the country’s interests, in addition to the fact that they constitute regional and global economic integration, especially after the gradual disappearance of tensions in the region.”

Prime Minister Mohammed Shia al-Sudani recently confirmed that comprehensive reforms were the reason for attracting foreign investments that were initiated and exceeded 62 billion dollars in two years in the oil, gas, housing, industry, agriculture and hotel sectors, and indicators from international organizations and institutions indicate an increase in the growth rate during this period.

Economic Sectors

For her part, Suhad Al-Shammari, who is interested in economic affairs, pointed out that “Iraq has recently sought to activate and revitalize the economic sectors and develop short-, medium- and long-term plans to enhance the role of investments in Iraq in all aspects.”

Riyadh Forum

Al-Shammari pointed out to Al-Sabah, “the directive to open the doors of investment in Iraq with important countries, which the Prime Minister began with a tour of Europe during his participation in the Munich Conference and his trip to the United States and the signing of important agreements that focused in their entirety on reviving the Iraqi private sector,

in addition to launching a dialogue that opens the door to lifting the sanctions on private banks that caused the exchange rate to rise in the local market of Iraq,” indicating that “Iraq opened the doors of economic cooperation leading to the Riyadh Forum, in which the government reviewed Iraq’s capabilities through its strategic location in the region and as an important political player in regional issues.”

Management And Planning

She pointed out that “the continuous tours of senior Iraqi officials, accompanied by economic plans that were developed according to the will, management and planning, aim to enhance Iraq’s financial revenues and diversify the economy, which for many years has been a rentier economy that relies solely on oil and is affected by the conditions of low and high prices,” noting that “the regional factors in the recent period have been unstable due to conflicts and wars, and Iraq has avoided them after adopting a realistic vision in attracting foreign investments to avoid factors of economic stagnation and financial problems.”

Multiple Sectors

It is noteworthy that the Chairman of the National Investment Commission, Haider Mohammed Makiya, explained that the investments were distributed among various sectors, and represented a great opportunity to improve Iraq’s global ranking as an attractive destination for investment. He also stressed that the entry of prestigious international companies of various nationalities reflects the attractiveness of the promising Iraqi market, especially in sectors such as renewable energy, oil and associated gas. https://alsabaah.iq/107905-.html

Iraqi Oil Stabilizes At High Level At The Beginning Of Year-End Trading

Economy | Baghdad Today - Follow-up  At the beginning of the end of the year's trading, today, Monday (December 30, 2024), Iraqi oil recorded stability at an increase during the opening of trading for the week in global markets .

According to data reviewed by Baghdad Today, Basra Heavy crude recorded $70.19 per barrel, while the average recorded $73.29 per barrel, with a change rate of -0.16, respectively, for delivery in February 2025 .

The data also showed an increase in global crude prices, as British Brent crude recorded $74.30, while US West Texas Intermediate crude recorded $70.66 per barrel, with a change rate of +0.13 and +0.05, respectively .     Source: "Baghdad Today" + websites   LINK

Half A Trillion Dinars For Baghdad Projects

First  12/30/2024  Half a trillion dinars for Baghdad projects 51a076da-9e8e-4eb0-947a-0e2876bade6e

 Baghdad Provincial Council has prepared a project plan at a cost of (500) billion dinars to be implemented during the coming year, while Baghdad Municipality has pledged a qualitative shift in services during

(2025). Member of the Baghdad Provincial Council, Muhammad Al-Shaalan, told Al-Sabah: “The governorate has prepared its plan for next year at a financial cost of about (500) billion dinars.”

He added, "The aforementioned plan includes projects in various sectors, including water, sewage, roads linking districts and sub-districts to the center, and infrastructure in outlying areas."

He noted that "the focus will be on deprived areas that have not been included in the service effort and have not been included in the plans," indicating that (50) percent of the budget for the year (2023) has been allocated to road and bridge projects and investment and strategic projects, in addition to the fact that the budget is distributed between the Baghdad Municipality and the governorate, and a small share of it goes to areas Parties.    https://alsabaah.iq/107931-.html

500 Billion Dinars For Capital Projects By 2025

Iraq  12/30/2024   Baghdad Provincial Council has prepared a plan for projects worth 500 billion dinars to be implemented during the coming year. While the Capital Municipality pledged a qualitative shift in services during the first four months of 2025, the Parliamentary Services Committee revealed that the focus will be on infrastructure and completing ongoing and stalled projects.

Ali Al-Hamidawi, a member of the Parliamentary Services Committee, told Al-Sabah: Baghdad Governorate’s plan for next year will be limited to ongoing and stalled projects and infrastructure.

He pointed out that the most important of these projects are the entrances to Baghdad-Hillah and Abu Ghraib, as they are part of the government program, as well as sewage projects, most notably Al-Mahmoudiyah, whose implementation this year has witnessed a significant delay, in addition to the implementation of infrastructure, including paving, sidewalks, health centers, and water stations, especially in the areas of Kuweirish and Al-Hussainiya.

Al-Hamidawi pointed out the impossibility of launching new strategic projects due to the allocated financial allocations amounting to nearly 400 billion dinars.

He explained that the ongoing projects, which number about 500, need large financial allocations, noting that Parliament seeks to overcome the legislative obstacles facing the capital next year, in order to implement the projects in the best possible way.

For his part, Baghdad Provincial Council member Mohammed Al-Shaalan told Al-Sabah: The governorate has prepared its plan for next year at a financial cost of about 500 billion dinars.

He added that the aforementioned plan includes projects in various sectors, including water, sewage, roads linking districts and sub-districts to the centre, and infrastructure in outlying areas.

He noted that the focus will be on deprived areas that have not been included in the service effort and are not included in the plans, indicating that 50 percent of the 2023 budget has been allocated to road and bridge projects and investment and strategic projects, in addition to the fact that the budget is distributed between the Baghdad Municipality and the governorate, and a small share of it goes to the outskirts.

In turn, the Director of the Projects Department in the Baghdad Municipality, Engineer Yaqzan Al-Waili, told Al-Sabah: The municipality has begun implementing 84 diverse service projects, the most prominent of which is developing all traffic intersections and decorating the streets with lighting and green areas, in addition to covering the sidewalks with Muqarnas.

He added that the first four months of next year will witness a qualitative shift in terms of services, after the completion of infrastructure works and cladding projects, noting that three municipal departments, namely Al-Kadhimiya, Al-Adhamiya and Al-Karkh Center, are close to completing the cladding works within their sector by 100 percent.

Al-Waili explained that the works currently being implemented in various areas of the capital include renewing water, sewage and rainwater networks, in addition to replacing side molds and paving streets with muqarnas, in addition to paving and covering streets and main roads, explaining that these projects aim to improve the service reality of the capital in conjunction with its selection as the Arab Tourism Capital for the year 2025.    https://alsabaah.iq/107912-.html