Iraq Economic News and Points to Ponder Thursday Evening 4-18-24
Iraq Economic News and Points to Ponder Thursday Evening 4-18-24
Tlm724 Administrator Bondlady’s Corner
Al-Alaq: Forming A Committee With The Ministry Of Treasury And The Federal Bank To Address And Correct Violations Of The Sanctioned Banks
Thursday 18, April 2024 22:48 | Economical Number of readings: 155 Baghdad / NINA / The Governor of the Central Bank, Ali Al-Alaq, revealed today, Thursday, the agreement, during Prime Minister Muhammad Shia Al-Sudani’s current visit to Washington, with the Ministry of the Treasury and the Federal Bank to form a committee to address and correct the violations of the sanctioned banks, while confirming that both parties praised the Central Bank’s procedures to get rid of... The old system in the financial transfer file, 80% of which was deducted.
Al-Alaq said in a televised statement, “The issue of the US Treasury’s sanctions on Iraqi banks was discussed during the visit of Prime Minister Muhammad Shia al-Sudani to Washington by the Prime Minister and his accompanying delegation, and following the initial meetings that took place, an expanded meeting was held with the US Treasury and the Federal Reserve Bank in "This is a way for us to translate the intentions and initial approvals, develop a road map for dealing with this issue, and determine the required procedures."
He added, "The issue was discussed in detail and we agreed to form a team of the three parties (the Central Bank of Iraq, the US Department of the Treasury, and the US Federal Bank), and we are reviewing reports from various audit sources to determine the nature of each of the violations committed against the banks and determine the corrective action required for the banks to be... In good and proper condition.”
Iraq Economic News and Points to Ponder Thursday Evening 4-18-24
Tlm724 Administrator Bondlady’s Corner
Al-Alaq: Forming A Committee With The Ministry Of Treasury And The Federal Bank To Address And Correct Violations Of The Sanctioned Banks
Thursday 18, April 2024 22:48 | Economical Number of readings: 155 Baghdad / NINA / The Governor of the Central Bank, Ali Al-Alaq, revealed today, Thursday, the agreement, during Prime Minister Muhammad Shia Al-Sudani’s current visit to Washington, with the Ministry of the Treasury and the Federal Bank to form a committee to address and correct the violations of the sanctioned banks, while confirming that both parties praised the Central Bank’s procedures to get rid of... The old system in the financial transfer file, 80% of which was deducted.
Al-Alaq said in a televised statement, “The issue of the US Treasury’s sanctions on Iraqi banks was discussed during the visit of Prime Minister Muhammad Shia al-Sudani to Washington by the Prime Minister and his accompanying delegation, and following the initial meetings that took place, an expanded meeting was held with the US Treasury and the Federal Reserve Bank in "This is a way for us to translate the intentions and initial approvals, develop a road map for dealing with this issue, and determine the required procedures."
He added, "The issue was discussed in detail and we agreed to form a team of the three parties (the Central Bank of Iraq, the US Department of the Treasury, and the US Federal Bank), and we are reviewing reports from various audit sources to determine the nature of each of the violations committed against the banks and determine the corrective action required for the banks to be... In good and proper condition.”
He continued, "Therefore, we will begin this plan through joint work to reach final results related to a report regarding the status of each of the banks that have been sanctioned," noting that "the atmosphere of dialogues and discussions is very positive."
He stated, “It is very clear, in light of the ongoing relationship with the Ministry of the Treasury and the Federal Bank and reviewing developments related to the measures taken, that there was great praise for Iraq’s measures, and the Undersecretary of the Ministry of the Treasury confirmed during his meeting with the Prime Minister that what the Central Bank did in the framework of financial transfers during the last period The completion of 80% of transferring these transfers directly from the old system of correspondent banks deserves to be celebrated, and this gives an important indication that there are steps taking place steadily, and they expect that we will end the traditional method of transferring through the Central Bank and the Federal Bank and that the relationship will be direct between the banks. Local and correspondent banks by the end of the current year, which represents the remaining 20%.”
The Governor of the Central Bank continued, “For necessities related to Iraq having an ongoing relationship with the International Monetary Fund within a specific program for the purpose of giving positive signals to global financial institutions, given that the International Monetary Fund is more like an auditor of countries’ economies, we submitted a letter at the end of last month to the Fund’s management of Iraq’s desire to Entering a non-financing program, meaning that we do not need to borrow,
but within the framework of coordination, technical and advisory support, and entering into a plan that is in keeping with and harmonious with the government’s plan for economic reform, and we received an answer from the Director General of the Fund, which was very welcoming of entering into this program.”
He stressed: “In light of this and in these meetings, we have begun to enter into the details of the program plan and procedures that will be present soon through a delegation that will visit Iraq.”/End 9
https://ninanews.com/Website/News/Details?key=1121870
The US Ambassador Announces Loans Worth $50 Million To Support The Iraqi Private Sector
Thursday 18, April 2024 23:10 | Economical Number of readings: 163 Baghdad / NINA / The US Ambassador to Baghdad, Elena Romanowski, announced loans worth $50 million to support the Iraqi private sector.
The US Ambassador said in a tweet on the X website: I am proud to announce an agreement to grant a loan worth $50 million from the US International Development Finance Corporation, with support from @USAID, to the benefit of the National Bank of Iraq @NBIRQ... This loan will provide opportunities for small companies by providing loans. At a low cost, which will contribute to supporting the Iraqi private sector.
She continued: The United States supports access to financing for first-time borrowers and Iraqi women entrepreneurs./End 9 https://ninanews.com/Website/News/Details?key=1121875
Iraq Stresses The Importance Of Lockheed Martin's Commitment To Opening Military Aircraft Maintenance Centers
Money and business Economy News – Baghdad Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani stressed the importance of Lockheed Martin’s commitment to opening military aircraft maintenance centers.
The Prime Minister's Media Office stated, in a statement received by Al-Iqtisad News, that "Al-Sudani met in Washington with the CEO of Lockheed Martin, which is responsible for manufacturing F-16 aircraft, James Taiclet and his accompanying delegation."
He stressed, "The importance of the company's commitment to opening centers for the maintenance of military aircraft and providing spare materials for them inside Iraq, given the importance of this matter regarding the rehabilitation of Iraqi aircraft to maintain the security of the country."
For his part, Taiclet expressed his "understanding and readiness to respond to the Iraqi government's requests regarding the implementation of the terms of contracts for the supply of aircraft to Iraq, and the provision of all related supplies."
126 views Added 04/18/2024 - 10:36 AM https://economy-news.net/content.php?id=42583
The Stock Exchange Announces The Trading Of Shares Worth More Than 10 Billion Dinars Within A Week
Market Economy News – Baghdad The Iraq Stock Exchange (Stock Exchange) announced on Thursday the trading indicators for this week.
The stock exchange stated in a statement, seen by Al-Iqtisad News, that “the Iraqi Stock Exchange organized five trading sessions during the third week of April, from Sunday (April 14) to Thursday (April 18).”
The statement added, "During this week, the number of shares traded reached more than 7 billion shares, with a value of more than 10 billion dinars."
She pointed out that “the market trading index for the first session of the week closed at (911.51) points, while the index closed at the end of the week at (957.71) points, achieving an increase of (4.82%) from its close at the first session.”
She continued, "During the week, (4,146) purchase and sale contracts were executed on the shares of companies listed on the market." Views 73 04/18/2024 - https://economy-news.net/content.php?id=42594
The Chairman of the Investment Authority signs the United Nations Convention on International Mediation
Chairman Of The National Investment Authority, Haider Makkiya
Economy News – Baghdad On Thursday, Chairman of the National Investment Authority, Haider Muhammad Makkiya, signed the United Nations Convention on International Mediation, known as the “Singapore Convention,” in New York City, noting that this agreement is a tool for facilitating international trade and promoting mediation.
Makiya said in his speech during the signing ceremony, which took place in coordination with the Iraqi representation at the United Nations, and was reviewed by Al-Iqtisad News, that “it is important to activate the Republic of Iraq’s accession to the Singapore Agreement on Mediation and International Investment Disputes, in accordance with the provisions of Law No. (14) of 2021.”
Referring to Cabinet Resolution No. (24203) of 2024 ratifying the International Commercial Arbitration Law, which included international standards for international commercial arbitration, stressing “the position of this agreement within the framework of enhancing the Iraqi investment reality.”
He added, "Iraq includes many international and qualitative strategic investment opportunities, the reality of which requires contracting with foreign companies specialized in investment, and what it requires to provide legal protection for companies, in the event of disputes arising from contracts concluded by state institutions with these foreign companies that prefer to resort to... International arbitration to guarantee its rights, as stipulated in Article (27/First) of Investment Law No. 13 of 2006, as amended.”
Makiya continued, "This agreement is a tool for facilitating international trade and promoting mediation, as well as being an alternative and effective method for settling commercial disputes," noting that "the agreement will contribute to achieving sustainable development goals and encouraging the increasing use of mediation as an effective means of settling cross-border disputes for the purpose of preserving Commercial relations between the parties involved in the investment process.”
The head of the authority continued, “The agreement has a pivotal dimension due to its importance and the existence of several justifications for joining it, most notably finding an alternative method to litigation procedures before international arbitration bodies in disputes arising from investment through commercial mediation regulated by the provisions of this agreement,
especially since the Republic of Iraq joined in the year 2015 to the International Center for Settlement of Investment Disputes between States and Nationals of Other States, which gives foreign investors the right to resort to the Washington Center.
He stated, "Iraq's accession to the Singapore Mediation Agreement is necessary to attract investments and achieve economic development purposes, especially in light of the transformation and adoption of a free market economy as an economic system for the country, in addition to referring many strategic projects to foreign companies and investors," pointing out, "
A specialized program has been prepared for introductory workshops that the Authority will hold for all ministries and state institutions to educate their legal departments about the legal impact of this agreement, in cooperation with the UNDP.”
70 views 04/18/2024 - https://economy-news.net/content.php?id=42606
Oil continues to lose as tension in the Middle East eases
Economy | 04/18/2024 Mawazine News – Baghdad Oil prices fell, on Thursday, to their lowest level in three weeks, continuing their losses amid hopes for a decline in tension in the Middle East, which is one of the most important crude producing regions, while investors’ focus shifts to expectations of a decline in demand.
Brent crude futures fell only 60 cents, or 0.7 percent, to $86.69 per barrel, while US West Texas Intermediate crude futures fell 53 cents, or 0.6 percent, to $82.16 per barrel. Both declined for the fourth session in a row.
Prices fell by more than a dollar at their lowest levels during the session, and have also fallen by about four percent since the beginning of the week.
Investors are reducing the geopolitical risk premium on oil prices amid expectations that international pressure will succeed in curbing the severity of any Israeli response to the attack launched by Iran on April 13.
Ole Hvalby, commodity analyst at SEB Research, told Reuters that any new Western sanctions on Iran could be offset by increased production from other oil-producing countries, and their impact may be limited without Chinese cooperation.
According to Reuters data, Iran is the third largest crude producer in the Organization of the Petroleum Exporting Countries (OPEC), and a decline in the intensity of its conflict with Israel would reduce the possibility of supply disruption.
Analysts at JP Morgan highlighted in a note issued late Tuesday that global oil consumption since the beginning of April is 200,000 barrels per day less than expected, with an average of 101 million barrels per day.
The rise in US crude inventories also suppressed prices. The US Energy Information Administration said on Wednesday that crude oil inventories rose by 2.7 million barrels to 460 million barrels in the week ending April 12, compared to analysts’ expectations in a Reuters poll that inventories would increase by 1.4 million barrels.
Inventories rose with a decrease in refinery consumption at a time that usually witnesses an increase in refining activity in preparation for increased summer demand in the United States. https://www.mawazin.net/Details.aspx?jimare=246211
To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/
6 Signs You Are Smarter About Money Than You Were 5 Years Ago
6 Signs You Are Smarter About Money Than You Were 5 Years Ago
John Csiszar Wed, April 17, 2024
The coronavirus pandemic of 2020 changed many things about the world, including how people look at and manage their money. According to a new GOBankingRates study, 74% of people said they were smarter about money since the pandemic began, a perhaps unexpected benefit of the global calamity.
If the survey results are truly representative, they mean it’s likely that you are also smarter about money than you were five years ago. Here are some of the signs that you’re doing the right things with your money and are moving towards a more prosperous financial life.
You Have Built a Sizable Emergency Fund
Approximately 22% of Americans have no emergency funds at all and only 44% could pay a $1,000 expense with their savings, according to a 2024 Bankrate report. If you find that you have a sizable emergency fund, especially if you didn’t have one before the pandemic, it means you’re smarter about money now.
6 Signs You Are Smarter About Money Than You Were 5 Years Ago
John Csiszar Wed, April 17, 2024
The coronavirus pandemic of 2020 changed many things about the world, including how people look at and manage their money. According to a new GOBankingRates study, 74% of people said they were smarter about money since the pandemic began, a perhaps unexpected benefit of the global calamity.
If the survey results are truly representative, they mean it’s likely that you are also smarter about money than you were five years ago. Here are some of the signs that you’re doing the right things with your money and are moving towards a more prosperous financial life.
You Have Built a Sizable Emergency Fund
Approximately 22% of Americans have no emergency funds at all and only 44% could pay a $1,000 expense with their savings, according to a 2024 Bankrate report. If you find that you have a sizable emergency fund, especially if you didn’t have one before the pandemic, it means you’re smarter about money now.
Most financial experts suggest having at least three to six months of expenses saved in an emergency fund or as much as one year if your income is erratic or inconsistent.
You Paid Off (or at Least Lowered) Your Debt
From April 2020 to December 2021, throughout the heart of the pandemic, the percentage of households carrying credit card balances actually fell from 50% to 45%. This was due in large part to the unprecedented stimulus programs that put money directly into the pockets of Americans during the pandemic.
Now that those stimulus payments are a thing of the past, debt levels have once again risen, to an all-time record of $1.13 trillion. If you’ve still managed to maintain your credit card debt at a low level — or have paid it off entirely — then it’s a great sign for your finances.
You No Longer Live Paycheck to Paycheck
One of the biggest financial transformations you can make is to move beyond living paycheck to paycheck. According to a 2023 survey by Payroll.org, 78% of Americans struggle to save or invest after paying their monthly bills, thereby living paycheck to paycheck. If you can manage to crawl out of this pattern, you’re definitely ahead of the game financially.
You’ve Increased Your 401(k) Contributions
Your 401(k) plan is one of the best ways to build up a significant nest egg over your working career. In addition to the tax breaks they offer, most 401(k) plans also benefit from employer matching contributions. The maximum 401(k) contribution is also a generous $23,000 for 2024, allowing those who can afford it to sock away a substantial amount on an annual basis.
If you could contribute $23,000 to your 401(k) for 30 years and earn an 8% return, for example — not even including the effects of an employer match or an annual increase in the contribution limit — you’d have a nest egg close to $2.8 million.
You Actively Budget
To Read More:
https://www.yahoo.com/finance/news/6-signs-smarter-money-were-140015836.html
Goldilocks' Comments and Global Economic News Thursday Evening 4-18-24
Goldilocks' Comments and Global Economic News Thursday Evening 4-18-24
Good evening Dinar Recaps,
Watch XRP! It is the coin that moves all coins. Once the SEC and Ripple case is settled, look for the QFS System to be given the green light to move forward.
© Goldilocks
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In order to be on an even playing field with other currencies around the world, the EU has raised their Capital requirements. It was discovered in 2023 that many of the currencies they were currently trading with were no longer in sync.
These foreign exchange risks were discovered in the second half of last year. This has led the European Banking Authority’s (EBA) to reduce the number of correlated currencies they were trading. Europe is a major player, and to compete Globally has forced them to reset their currency Market pairs. Risk
© Goldilocks
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Goldilocks' Comments and Global Economic News Thursday Evening 4-18-24
Good Evening Dinar Recaps,
Watch XRP! It is the coin that moves all coins. Once the SEC and Ripple case is settled, look for the QFS System to be given the green light to move forward.
© Goldilocks
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In order to be on an even playing field with other currencies around the world, the EU has raised their Capital requirements. It was discovered in 2023 that many of the currencies they were currently trading with were no longer in sync.
These foreign exchange risks were discovered in the second half of last year. This has led the European Banking Authority’s (EBA) to reduce the number of correlated currencies they were trading. Europe is a major player, and to compete Globally has forced them to reset their currency Market pairs. Risk
© Goldilocks
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WASHINGTON (Reuters) - "U.S., Japanese and South Korean finance leaders agreed to consult closely on foreign exchange and market developments in a trilateral meeting on Wednesday, they said in a joint statement issued by the U.S. Treasury Department."
These meetings are becoming more and more frequent. As we get closer to Global regulations on cryptocurrency through MICA, the new digital economy will reset a lot of prices across all sectors of the markets.
Our tokenized assets are as these words imply. These digitized assets are now supported by commodities. Our Stablecoins representing our countries' currencies are backed by gold.
Everything is about to be backed by gold. It is the bridge into the next economy as it has been throughout history when we have crossed over from one economic world to another.
Our ability to adapt to these changes will signify a willingness to live in the New World. It is a mind, body, and soul transformation. Time is getting close. Be ready. US News
© Goldilocks
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"On Tuesday, April 16, Bybit published a new report, providing a detailed analysis of the Bitcoin halving event set to take place this month. The crypto firm disclosed that the Bitcoin reserves within the world’s crypto exchanges have been depleting at a rapid pace, leaving only nine months of BTC supply left on exchanges."
This new trend is expected to drive the price of Bitcoin up. The more scarce it becomes, the more valuable it will be in the short run.
Bitcoin has been known to drive prices up in the cryptocurrency world. As we shift into a digital economy, there are new cryptocurrencies that will begin new protocols inside this new digital framework.
Their connection to Bitcoin will help raise their value going forward. As new demands are placed on these new digital assets that will move our Global Economy, it will be the demand for them in the future that will begin to place price pressures on their existence based on their use case scenarios.
Our world is clearly in transition, and the more we learn about it the better off we can be in integrating our lives into it.
We are in the process of carving out a path into this new digital asset-based trading system. It will change us in ways many of us did not anticipate.
Staying focused and intentional about your new place in the world will be a vital step and becoming a part of it. News BTC
© Goldilocks
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"Gold at Historical Highs as Mid-East Tensions Persist; Pound Rises on UK CPI Data" | Investing
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Banking Announcement:
"JP Morgan is setting out to potentially disrupt its own foreign exchange overlay business with a new execution method that allows clients to place multiple dealers in competition for trades, while using the bank’s credit standing to secure the best price." | FX Markets
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Vietnam Stock Market Sharp Drop IQD Rate Flux Haiti's Progress Gold Prices | Youtube
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Press Release
SEC’s Division of Investment Management to Host Second Annual Conference on Emerging Trends in Asset Management SEC
Conference topics will include:
Trends in Asset Management Products and Strategies:
* Asset Management Trends: Past,
* Present and Future
* Technology-Driven Trends
* Regulatory Perspectives
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Ripple Vs. SEC Saga: CLO Provides Clarity On Next Steps In Lawsuit | Bitcoinist
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HONG KONG BITCOIN ETFS TO TRADE BY APRIL 30TH: REPORTS
Hong Kong's hotly anticipated spot bitcoin ETFs are expected to launch by end of April, potentially yielding up to $25 billion in capital inflows according to industry analysts. | Bitcoin Magazine
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A MESSAGE FROM ISAAC
I will have two big meetings Monday to know how close we are , process is advancing so we are getting close , I will update Monday, blessings .
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Iraq: Over 14 Agreements Signed Between Iraq and US BREAKING NEWS from Congres | Youtube
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Thank you Dinar Recaps
Iraqi Dinar Video Update Thursday Afternoon 4-18-24
Iraqi Dinar Video Update Thursday Afternoon 4-18-24
Finally IQD International Announce 2024 – 3:05
Dong Currency Massive Exchange Rate – 2:45
WOW Iraq President Deleted 3 zero – 3:30
Chase Bank Iraq Govt Announced Iqd rate – 3:04
Iraqi Dinar Video Update Thursday Afternoon 4-18-24
Finally IQD International Announce 2024 – 3:05
Dong Currency Massive Exchange Rate – 2:45
WOW Iraq President Deleted 3 zero – 3:30
Chase Bank Iraq Govt Announced Iqd rate – 3:04
Finally IQD International Announce 2024 – 3:05
Dong Currency Massive Exchange Rate – 2:45
WOW Iraq President Deleted 3 zero – 3:30
Chase Bank Iraq Govt Announced Iqd rate – 3:04
Warren Buffett’s 6 Best Pieces of Money Advice for the Middle Class
Warren Buffett’s 6 Best Pieces of Money Advice for the Middle Class
March 22, 2024 by John Csiszar Edited by Amber Barkley
For one of the richest people in the entire world, Warren Buffett, the CEO of Berkshire Hathaway, is surprisingly down to Earth. He famously lives in the same modest house in Omaha that he bought in 1958 for $31,500, and his favorite meal for breakfast is McDonald’s. Between that and his folksy, easy-to-understand wisdom, it’s no wonder that Buffett is so popular with the general public.
Investors no doubt also love his enviable track record, which has more than doubled the average annual return of the S&P 500 since 1965, an incredible run. The bottom line is that when Buffett talks, people listen.
With that in mind, here are some of the best pieces of financial advice for the middle class offered up by the man known as the “Oracle of Omaha.”
Warren Buffett’s 6 Best Pieces of Money Advice for the Middle Class
March 22, 2024 by John Csiszar Edited by Amber Barkley
For one of the richest people in the entire world, Warren Buffett, the CEO of Berkshire Hathaway, is surprisingly down to Earth. He famously lives in the same modest house in Omaha that he bought in 1958 for $31,500, and his favorite meal for breakfast is McDonald’s. Between that and his folksy, easy-to-understand wisdom, it’s no wonder that Buffett is so popular with the general public.
Investors no doubt also love his enviable track record, which has more than doubled the average annual return of the S&P 500 since 1965, an incredible run. The bottom line is that when Buffett talks, people listen.
With that in mind, here are some of the best pieces of financial advice for the middle class offered up by the man known as the “Oracle of Omaha.”
Pay Yourself First
Buffett isn’t the first or the only one to recommend “paying yourself first,” but he’s a vocal advocate of it.
Buffett approaches the problem of prioritizing savings through wise budgeting. As the billionaire puts it: “Do not save what is left after spending, but spend what is left after saving.”
The idea behind this philosophy is that if you wait to sock away savings until after you’ve spent all your money in a given month, it’s highly likely that you’ll find there’s nothing left. But if you instead save your money first, you’ll have to budget what’s left so that it stretches to cover all of your expenses.
This serves the dual purpose of forcing you to cut down on needless expenditures, while at the same time forcing you to build up savings, even on a smaller salary.
Some middle class Americans feel that they don’t earn enough to save, but when you flip the equation on its head like Buffett suggests, you might find out that you can save much more than you imagine.
Reduce Your Unnecessary Expenses
On the topic of budgeting, Buffett says that one of the keys to financial prosperity is simply to reduce your unnecessary expenses.
How do you know which ones are unnecessary? If you force yourself to live on a tighter budget, you’ll see right away which expenses you prioritize in life and which ones might be extra costs that you don’t really need. Over time, even a little amount of savings can build into a large amount.
To Read More:
Economist's "News and Views" Thursday 5-18-2024
How Safe REALLY Are Your "INSURED" Accounts? (DOES THE FDIC EVEN HAVE THE MONEY?)
Lynette Zang: 4-18-2024
Today we talk about Debt and the very real problem with calling your bank accounts "INSURED" by the FDIC. Do they really have enough money to cover everyone in an event of a run on the bank?
Let's go through the facts and data directly from the source and find out!
How Safe REALLY Are Your "INSURED" Accounts? (DOES THE FDIC EVEN HAVE THE MONEY?)
Lynette Zang: 4-18-2024
Today we talk about Debt and the very real problem with calling your bank accounts "INSURED" by the FDIC. Do they really have enough money to cover everyone in an event of a run on the bank?
Let's go through the facts and data directly from the source and find out!
IS A STOCK MARKET CRASH IMMINENT? IS NOW THE TIME TO GET OUT OF THIS MARKET?
Greg Mannarino: 4-18-2024
Markets Are 'Breaking'; Gareth Soloway Updates Outlook For Bitcoin, Stocks, Economy
David Lin: 4-18-2024
Gareth Soloway, Chief Market Strategist of Verified Investing.com, discusses the price action of stocks, Bitcoin, and gold, and the drivers behind these assets.
0:00 - Intro
1:08 - Markets are breaking
5:00 - Gold
12:40 - Bitcoin outlook
26:29 - Sentiment
28:16 - Cracks in the economy
32:55 - Cocoa
33:50 - Bitcoin's bottom
34:38 - Verified Investing
More News, Rumors and Opinions Thursday PM 4-18-2024
TNT:
CandyKisses: Minister of Planning of the World Bank: Our government's directions to reduce external borrowing and schedule it
{Economic: Euphrates News} Deputy Prime Minister and Minister of Planning, Muhammad Ali Tamim, met at his residence in Washington, D.C., on Wednesday evening, a delegation from the World Bank.
According to a statement of the ministry received {Euphrates News} a copy of it that "during the meeting, which was attended by Kazem al-Hasani, adviser to the Prime Minister, and a number of stakeholders, discussed the mechanisms of scheduling Iraq's foreign loans, in cooperation with the World Bank."
Minister Tamim stressed that "the directions of the Iraqi government are to reduce external borrowing, and to have urgent necessities, provided that these loans are directed to the development aspects and financing important strategic projects."
TNT:
CandyKisses: Minister of Planning of the World Bank: Our government's directions to reduce external borrowing and schedule it
{Economic: Euphrates News} Deputy Prime Minister and Minister of Planning, Muhammad Ali Tamim, met at his residence in Washington, D.C., on Wednesday evening, a delegation from the World Bank.
According to a statement of the ministry received {Euphrates News} a copy of it that "during the meeting, which was attended by Kazem al-Hasani, adviser to the Prime Minister, and a number of stakeholders, discussed the mechanisms of scheduling Iraq's foreign loans, in cooperation with the World Bank."
Minister Tamim stressed that "the directions of the Iraqi government are to reduce external borrowing, and to have urgent necessities, provided that these loans are directed to the development aspects and financing important strategic projects."
For its part, the World Bank delegation expressed its readiness to provide possible support to the efforts of the Iraqi government in the field of loan scheduling, and joint work to enhance the development areas of loans
Tishwash: American immunity over Iraqi funds... How did it begin and what does it mean?
On May 22, 2003, former US President George W. Bush issued an executive order to protect the Development Fund for Iraq, in which the proceeds of oil sales were deposited, with the aim of protecting it from any legal prosecution.
After more than two decades, successive US administrations are still renewing this presidential executive order and other orders related to Iraq and aiming to protect its funds.
The current US President, Joe Biden, signed the decree extending the state of national emergency related to the situation in Iraq for another year, which stated: “There are still obstacles to the orderly reconstruction of Iraq, restoring and maintaining peace and security in the country, and developing political, administrative, and economic institutions in Iraq.” .
The statement added that these obstacles "pose an extraordinary threat to the national security and foreign policy of Iraq and the United States of America as well. Therefore, (Joe Biden) has decided that it is necessary to continue the state of national emergency declared under Executive Order 13303 regarding the stability of Iraq."
What is Executive Order 13303?
The Executive Order is intended to protect the Development Fund for Iraq and certain other properties in which Iraq has an interest.
According to what was stated in the text of the executive order, then US President George W. Bush saw that there was a threat to seize or take other judicial measures against the Development Fund for Iraq and Iraqi oil and petroleum products and the revenues arising from them.
The executive order also stated that this situation “poses an extraordinary threat to the national security and foreign policy of the United States, and therefore a national emergency has been declared to address this threat.”
The order states that any seizure, judgment, decree or other judicial proceeding against the Development Fund for Iraq or Iraqi oil and petroleum products and the proceeds and obligations relating to their sale or marketing shall be null and void.
The Executive Order prohibits all US citizens and residents of the United States, as well as any entity organized under US laws, from filing lawsuits against Iraqi funds.
According to the US National Emergency Law, failure to renew the executive order within a period of 90 days from the date of the previous renewal means that it will become invalid.
Development Fund for Iraq
The Development Fund for Iraq was established after 2003, and before that, money from Iraqi oil sales was placed in an account managed by the United Nations within what is known as the Oil-for-Food Program.
In the mid-nineties of the last century, the UN Security Council resolution related to oil for food was issued and stipulated the sale of a portion of Iraqi oil in exchange for the purchase of medicines and food during the era of Saddam Hussein’s regime, which suffered international sanctions as a result of its invasion of Kuwait in 1990.
This situation continued until 2003, when a new Security Council resolution was issued under which most of the economic sanctions were abolished, provided that issues related to the invasion of Kuwait were resolved, such as compensation, prisoners, and others. link
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Rod Steele [via PDK] Sudani has been in the US since Saturday and he met with Biden for an hour on Monday. Everything is now formally agreed too…Iraq is telling the people it is done and coming. The ABC agencies are saying to look for it between now and the rest of the week. The banks are hoping it will be tonight [Wednesday] or in the morning. I think they are a little bit ahead of the game though. Logically and realistically I think it will be next week because all the key Iraqi ministers and officers are here in the US. I think they will wait until they are back on Iraqi soil...I hear they are putting up big screen TV’s all over Baghdad and other parts of Iraq for some big announcement when they get back. We don’t know what that announcement is…but, I can guess.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Sudani...is meeting with Iraqi business owners in the United States of America ...They're talking about visits that will bring more stability. They're saying they are going to return the dinar to its price and how the dollar will drop dramatically and not be used in Iraq. A lot is being said about the strength of our currency of the dinar and the meeting is over 100 of these companies.
Vietnam Stock Market Sharp Drop IQD Rate Flux Haiti's Progress Gold Prices
Edu Matrix: 4-18-2024
Vietnam's Stock Market drops sharply on Monday after the Iran-Israel incident. Gold prices are going through the roof. Haiti's currency was stable, and the council was created to ensure a stable government.
Iraq Economic News and Points to Ponder Thursday Afternoon 4-18-24
Iraq Economic News and Points to Ponder Thursday Afternoon 4-18-24
Tlm724 Administrator Bondlady’s Corner
Parliamentary Finance Calls For “Confining The Dinar In The Hands Of The State”
Politics Parliamentary Finance Iraqi dinar 2024-04-17 05:36 Shafaq News/ The Parliamentary Finance Committee pointed out, on Wednesday, the problem of the lack of cash “Iraqi dinar,” calling for “confining the dinar to the state.”
Committee member Hussein Moanis told Shafaq News Agency,
“The House of Representatives voted on the tripartite budget law and required the government to send the schedules for approval,” indicating that
“the delay in sending the schedules to Parliament did not affect the operational budget.” He pointed out that "there is no specific date for approving the budget schedules in the Council of Ministers and sending them to the House of Representatives," indicating "a real problem with the lack of cash (the Iraqi dinar)."
He pointed out that "the Parliamentary Finance Committee is working to develop specific methods to process and provide cash and confine it to the state through
adopting the electronic card,
strengthening the work of banks, and
presenting documents to achieve cash abundance in the market." Mu'nis concluded by saying,
"There is no trust between the banking system and the citizen, and the lack of trust has caused the cash currency (the Iraqi dinar) to be stored in the homes of citizens, which has caused it to be lost and not naturally available in the market."
Iraq Economic News and Points to Ponder Thursday Afternoon 4-18-24
Tlm724 Administrator Bondlady’s Corner
Parliamentary Finance Calls For “Confining The Dinar In The Hands Of The State”
Politics Parliamentary Finance Iraqi dinar 2024-04-17 05:36 Shafaq News/ The Parliamentary Finance Committee pointed out, on Wednesday, the problem of the lack of cash “Iraqi dinar,” calling for “confining the dinar to the state.”
Committee member Hussein Moanis told Shafaq News Agency,
“The House of Representatives voted on the tripartite budget law and required the government to send the schedules for approval,” indicating that
“the delay in sending the schedules to Parliament did not affect the operational budget.” He pointed out that "there is no specific date for approving the budget schedules in the Council of Ministers and sending them to the House of Representatives," indicating "a real problem with the lack of cash (the Iraqi dinar)."
He pointed out that "the Parliamentary Finance Committee is working to develop specific methods to process and provide cash and confine it to the state through
adopting the electronic card,
strengthening the work of banks, and
presenting documents to achieve cash abundance in the market." Mu'nis concluded by saying,
"There is no trust between the banking system and the citizen, and the lack of trust has caused the cash currency (the Iraqi dinar) to be stored in the homes of citizens, which has caused it to be lost and not naturally available in the market."
A member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, said on March 27, 2024, that the Iraqi government raised the total amount of the budget law from 199 trillion dinars to 228 trillion dinars in the 2024 budget.
While a member of the Parliamentary Finance Committee, Mustafa Al-Karaawi, said in an interview with Shafaq News Agency on February 27, 2024, that Finance Minister Taif Sami informed the members of the committee during her hosting, yesterday, Monday, of the imminent sending of the budget law schedules to the House of Representatives. https://shafaq.com/ar/سیاسة/المالية-النيابية-تدعو-لـ-حصر-الدينار-بيد-الدولة
Prime Minister: It Is Not Possible To Work In Any Development Sector Without Reform Steps For The Banking Sector
Wednesday 17, April 2024 19:34 | Political Number of readings: 381 Baghdad / NINA / Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Wednesday, that
it is not possible to work in any development sector without reform steps for the banking sector.
A statement from his media office stated that Al-Sudani received at his residence in the American capital, Washington, this evening, Wednesday, (Baghdad time), the President of JP Morgan Bank, Masha Klovksi, and his accompanying delegation.
During the meeting, according to the statement, the government’s efforts to implement reforms were discussed. Finance and banking, in light of the path it is pursuing towards improving the economic situation and achieving development, in addition to discussing the
government’s measures to develop the government banking sector, through its contracts with major international consulting companies specialized in banking reform, and
encouraging private banks to open accounts with foreign banks to become banks Correspondent, according to a plan aimed at dispensing with the electronic platform at the end of this year.”
Al-Sudani stressed, according to the statement,
that it is not possible to work in any development sector without reform steps for the banking sector, and the
necessity of continuing the dialogue with the US Treasury, the US Federal Reserve, the International Monetary Fund, and other international financial institutions.
For his part, Klovsky praised the efforts of the Iraqi government in Activating, developing and qualifying government and private banks, and their procedures in the field of providing assistance to private Iraqi banks, stressing his support for the activities of the Iraq Fund for Development and its readiness to provide expertise and assistance in the field of training, cooperation and partnership.” /End 2
Finance Committee: Great Satisfaction With The Results Of The Prime Minister’s Discussions In Washington
Political Yesterday, 12:24 Baghdad – INA The Parliamentary Finance Committee announced today, Wednesday, its great satisfaction with the results of the Prime Minister’s discussions in Washington.
The head of the Parliamentary Finance Committee, Atwan Al-Atwani, said in a statement received by the Iraqi News Agency (INA):
“We are following with great satisfaction the results of the discussions of the Iraqi delegation currently visiting Washington, headed by Prime Minister Muhammad Shiaa Al-Sudani.” Al-Atwani affirmed his
"full support for the positive understandings that resulted from the Sudanese meeting with the American President within the framework of the shift in the relationship between the two countries from the security and military aspects to the areas of development, reconstruction, economy and investment." Al-Atwani welcomed
"the US President’s announcement of the United States’ commitment to supporting Iraq to reform and develop its financial and banking system and paving the way for Iraqi banks licensed to deal directly with approved international correspondent banks, in a way that contributes to linking Iraq to the international economic system." Al-Atwani pointed out,
"We are all confident and proud of the Iraqi negotiating delegation," expressing his hope that "these discussions will be a new beginning to achieve a true partnership between the two countries in various political, security, and economic fields in a way that achieves well-being, prosperity, and stability for our country." https://www.ina.iq/207013--.html
Meetings In The American Chamber Of Commerce Between The Iraqi Private Sector And The American Banking Sector
Wednesday 17, April 2024 08:06 | Economical Number of readings: 300 Baghdad ( NINA ) - On the sidelines of the visit of Prime Minister Muhammad Shia al-Sudani to the United States of America, meetings were held in Washington at the American Chamber of Commerce between the Iraqi private sector and the American banking sector to support long-term projects in Iraq.
This is the first time that the Iraqi government supports the private sector with bonds to qualify it to negotiate with the American side. https://ninanews.com/Website/News/Details?key=1121546
The Prime Minister Unveils A Law To Address The Challenges Of The Private Sector And The Volume Of Exchange With America
Political Today, 09:21 Baghdad – IA Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani announced the introduction of a law to address the challenges of the private sector, and while
he indicated that 80% of transfers are proceeding in accordance with international standards, according to the US Treasury Department,
he confirmed that Iraq is moving for the first time towards establishing a fixed platform to receive liquefied gas.
A statement issued by the Prime Minister’s Media Office, received by the Iraqi News Agency (INA), stated that
“Prime Minister Muhammad Shiaa Al-Sudani met in Washington, on Wednesday evening (Baghdad time), a number of heads and representatives of major American companies, in a session held by the Chamber of Commerce. "American".
The statement added, "The meeting included a dialogue session with the attendees, where the Prime Minister explained a number of questions that were raised during the meeting, related to the investment environment in Iraq and the facilities provided by the government to the private sector."
During the meeting, the Prime Minister sponsored "the signing ceremony of a number of memorandums of understanding between the Ministries of Electricity and Oil and the Iraq Fund for Development, with American institutions and companies.
Similar memorandums of understanding were also signed between the Iraqi private sector and American companies in the fields of energy and the pharmaceutical industry."
The Prime Minister pointed out, during his speech,
“the openness of the investment environment in Iraq to attract reputable international companies, to participate in the economic renaissance and infrastructure projects that Iraq is witnessing, in addition to the package of financial, banking and administrative reforms that the government initiated and a high percentage of which was completed during the year.” And half a year old.”
Al-Sudani said during the signing ceremony of memorandums of understanding with major American companies:
“The outcome of the discussions and understandings with the American side was the necessity of continuing to develop bilateral relations in various economic, social and security sectors.” He added:
"We agreed to
strengthen the relationship,
stimulate the private sector, and
support the work of American companies in Iraq," stressing that
"Iraq is witnessing remarkable stability despite the challenges in the region, and
we are working to distance it from hotbeds of conflict and escalation." He explained,
"The government has made important strides in economic reforms and implementing major projects that contribute to solving problems.
We have also presented to Parliament a law that addresses the challenges facing the private sector." He pointed out,
"According to the US Department of the Treasury, 80% of transfers are in accordance with international standards, and we are working to complete the remaining percentage," adding,
"We have completed the unified treasury account and the integrated banking system, modernizing collections and customs reforms, and redirecting support in the right direction." He stressed,
"Our support for the private sector is an approach we are following, and
for the first time we have granted sovereign guarantees to it to support projects," pointing out,
"The Iraq Fund for Development aims to involve the private sector, and addresses bureaucracy and routine for entering companies." He pointed out,
"Conducting tax and administrative reforms related to registering company branches, to provide an attractive investment environment," explaining that
"the volume of exchange between Iraq and the United States does not exceed 10 billion dollars." He stressed,
"Developing a comprehensive vision for the optimal investment of oil and gas, and the sixth round of licensing related to natural gas fields, is being presented for the first time," noting that
"there is a plan to reach gas self-sufficiency and stop imports within 3-5 years." He pointed out
“introducing integrated projects in 6-8 fields throughout the governorates, according to a model for developing oil, using associated gas, and establishing an electrical station and a petrochemical industry in the same location,” explaining that
“Iraq is moving towards establishing a fixed platform to receive liquefied gas for the first time, and
this is an opportunity presented.” In front of American companies and other companies.” He pointed out,
"A contract was signed with KBR to prepare a preliminary study on the fixed platform, for the purpose of receiving and exporting gas in the future." https://www.ina.iq/207070--.html
To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/
"Iraq News" Posted by Clare at KTFA Thursday 4-18-2024
KTFA:
Clare: Al-Sudani arrives in Houston to complete his visit to the United States
4/18/2024
Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani arrived in Houston to complete his visit to the United States.
Our correspondent said, "The Sudanese arrived in the state of Houston to complete his visit to the United States."
Last Saturday, Prime Minister Muhammad Shiaa Al-Sudani began a visit to Washington, DC, at the invitation of US President Joe Biden. LINK
KTFA:
Clare: Al-Sudani arrives in Houston to complete his visit to the United States
4/18/2024
Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani arrived in Houston to complete his visit to the United States.
Our correspondent said, "The Sudanese arrived in the state of Houston to complete his visit to the United States."
Last Saturday, Prime Minister Muhammad Shiaa Al-Sudani began a visit to Washington, DC, at the invitation of US President Joe Biden. LINK
Clare: Al-Ardawi: The Sudanese government seeks to liberalize the Iraqi dinar and stabilize the economy
4/17/2024
The political analyst, Abbas Al-Ardawi, confirmed that the visit of Prime Minister Muhammad Shia Al-Sudani to Washington came to liberalize the Iraqi dinar and stabilize the economy.
Al-Ardawi said {to Al-Furat News} that: “The visit comes in a very heated situation and everyone is awaiting its outcomes, and the Sudanese carries a large team of economists and investors and carries ideas and projects that move towards consolidating the relationship with the American side and transferring it from the process of guardianship to friendship and opening files and outlets through which the relationship can be framed.” "In a way that allows Iraq to assume its pivotal role in the region."
He added, "Everyone realizes the importance of Iraq from all aspects and the necessity of it standing on its feet after 20 years of political conflict."
Al-Ardawi continued, "The Sudanese government seeks to invest and attract investors and is moving seriously towards the path of development and trying to transfer the scope of the problems in the region through conferences it held in the region or that preceded this meeting, and the necessity of moving the region from a stage of conflict to a stage of dialogue."
Wafaa Al-Fatlawi LINK
************
Clare: Al-Sudani stresses the necessity of dialogue with the US Treasury, the Federal Bank, and the International Monetary Fund
4/17/2024
The Iraqi Prime Minister, Muhammad Shiaa Al-Sudani, stressed on Wednesday the necessity of continuing the dialogue with the US Treasury, the Federal Reserve, and the International Monetary Fund.
This came while Al-Sudani received, at his residence in the American capital, Washington, the President of JPMorgan Bank, Masha Klovksi, and his accompanying delegation, according to a statement received by Shafaq News Agency.
The meeting witnessed a discussion of the Iraqi government’s efforts to implement financial and banking reforms, in light of the path it is taking towards improving the economic reality and achieving development, as well as discussing the government’s measures in developing the government banking sector, through its contracts with major international consulting companies specialized in banking reform and encouraging banks. To open accounts with foreign banks; To be correspondent banks, according to a plan aimed at dispensing with the electronic platform at the end of this year.
Al-Sudani stressed that it is not possible to work in any development sector without reform steps for the banking sector, stressing the need to continue dialogue with the US Treasury, the US Federal Reserve, the International Monetary Fund, and other international financial institutions. LINK
Clare: Sudanese reveals the volume of exchange with America
4/18/2024 Baghdad
Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani announced the introduction of a law to address the challenges of the private sector, and while he indicated that 80% of transfers are proceeding in accordance with international standards, according to the US Treasury Department, he confirmed that Iraq is moving for the first time towards establishing a fixed platform to receive liquefied gas.
A statement issued by the Prime Minister’s Media Office, received by Al-Iqtisad News, stated that “Al-Sudani met in Washington, on Wednesday evening (Baghdad time), with a number of presidents and representatives of major American companies, in a session held by the American Chamber of Commerce.”
The statement added, "The meeting included a dialogue session with the attendees, where the Prime Minister explained a number of questions that were raised during the meeting, related to the investment environment in Iraq and the facilities provided by the government to the private sector."
During the meeting, the Prime Minister sponsored "the signing ceremony of a number of memorandums of understanding between the Ministries of Electricity and Oil and the Iraq Fund for Development, with American institutions and companies. Similar memorandums of understanding were also signed between the Iraqi private sector and American companies in the fields of energy and the pharmaceutical industry."
The Prime Minister pointed out, during his speech, “the openness of the investment environment in Iraq to attract reputable international companies, to participate in the economic renaissance and infrastructure projects that Iraq is witnessing, in addition to the package of financial, banking and administrative reforms that the government initiated and a high percentage of which was completed during the year.” And half a year old.”
Al-Sudani said during the signing ceremony of memorandums of understanding with major American companies: “The outcome of the discussions and understandings with the American side was the necessity of continuing to develop bilateral relations in various economic, social and security sectors.”
He added: "We agreed to strengthen the relationship, stimulate the private sector, and support the work of American companies in Iraq," stressing that "Iraq is witnessing remarkable stability despite the challenges in the region, and we are working to distance it from hotbeds of conflict and escalation."
He explained, "The government has made important strides in economic reforms and implementing major projects that contribute to solving problems. We have also presented to Parliament a law that addresses the challenges facing the private sector."
He pointed out, "According to the US Department of the Treasury, 80% of transfers are in accordance with international standards, and we are working to complete the remaining percentage," adding, "We have completed the unified treasury account and the integrated banking system, modernizing collections and customs reforms, and redirecting support in the right direction."
He stressed, "Our support for the private sector is an approach we are following, and for the first time we have granted sovereign guarantees to it to support projects," pointing out, "The Iraq Fund for Development aims to involve the private sector, and addresses bureaucracy and routine for entering companies."
He pointed out, "Conducting tax and administrative reforms related to registering company branches, to provide an attractive investment environment," explaining that "the volume of exchange between Iraq and the United States does not exceed 10 billion dollars."
He stressed, "Developing a comprehensive vision for the optimal investment of oil and gas, and the sixth round of licensing related to natural gas fields, is being presented for the first time," noting that "there is a plan to reach gas self-sufficiency and stop imports within 3-5 years."
He pointed out “introducing integrated projects in 6-8 fields throughout the governorates, according to a model for developing oil, using associated gas, and establishing an electrical station and a petrochemical industry in the same location,” explaining that “Iraq is moving towards establishing a fixed platform to receive liquefied gas for the first time, and this is an opportunity presented.” In front of American companies and other companies.”
He pointed out, "A contract was signed with KBR to prepare a preliminary study on the fixed platform, for the purpose of receiving and exporting gas in the future." LINK
Iraqi Dinar Today Video Updates Thursday AM 4-18-24
Iraqi Dinar Today Video Updates Thursday AM 4-18-24
PM Shia AL sudani Of Iraq Finally Deleted Three Zeros Banknotes – 2:04
Finally New Rate Came out Set On $3.45 To $4.25 USD – 4:18
Dong Currency Massive Exchange Rate – 3:25
Iraqi Dinar Today Video Updates Thursday AM 4-18-24
PM Shia AL sudani Of Iraq Finally Deleted Three Zeros Banknotes – 2:04
Finally New Rate Came out Set On $3.45 To $4.25 USD – 4:18
Dong Currency Massive Exchange Rate – 3:25
PM Shia AL sudani Of Iraq Finally Deleted Three Zeros Banknotes – 2:04
Finally New Rate Came out Set On $3.45 To $4.25 USD – 4:18
Dong Currency Massive Exchange Rate – 3:25
BRICS Ditches US dollar: Who Else have Followed BRICS?
BRICS Ditches US dollar: Who Else have Followed BRICS?
Fastpo: 4-17-2024
Numerous countries are actively examining ways to decrease their dependence on the US dollar for international trade, a phenomenon commonly referred to as "de-dollarization."
This strategic shift is largely motivated by a desire to mitigate the vulnerabilities associated with geopolitical tensions and economic sanctions, thereby bolstering national financial autonomy from the US-dominated global financial system.
In this video, we will delve into how the BRICS nations are navigating this transition, as well as examine similar efforts by countries outside this group.
BRICS Ditches US dollar: Who Else have Followed BRICS?
Fastpo: 4-17-2024
Numerous countries are actively examining ways to decrease their dependence on the US dollar for international trade, a phenomenon commonly referred to as "de-dollarization."
This strategic shift is largely motivated by a desire to mitigate the vulnerabilities associated with geopolitical tensions and economic sanctions, thereby bolstering national financial autonomy from the US-dominated global financial system.
In this video, we will delve into how the BRICS nations are navigating this transition, as well as examine similar efforts by countries outside this group.
We aim to provide a comprehensive overview of the economic implications of moving away from the US dollar and explore the various mechanisms these countries are employing to facilitate trade using their local currencies.
This move reflects a growing trend towards reshaping global trade dynamics to foster greater economic resilience and independence.