Foreign Minister discusses with UN Secretary-General’s Representative in Iraq the reconstruction of liberated areas
Foreign Minister Dr. Ibrahim al-Jaafari received the Representative of the Secretary-General of the United Nations in Iraq Mr. Jan Kubic at the Ministry’s headquarters. The two sides discussed the latest political and security developments.
The Minister praised the role of the United Nations and humanitarian organizations in the relief of the displaced and provide them with help and support despite the dangers. He also discussed the role of the international community in the reconstruction process of the liberated areas, stressing that Iraq has successfully passed a stage after liberating the cities that were in his grip, It ends because it is a mixture of unthinkable ideas, hatred, and brutality, unparalleled in history. It is aimed at killing a person regardless of his religion, race and gender.
Dr. Jaafari called on the United Nations to play a greater role in mobilizing the international community to provide more assistance and assistance to Iraq to enable it to face the challenges posed by the fight against terrorism. “We look forward to taking courageous decisions in helping Iraq and making courageous decisions in support of Iraq, security and militarily. International efforts, particularly those of the United Nations and its affiliated organizations that have contributed to the alleviation of the crisis of displaced persons.
Read more: http://www.dinarupdates.com/showthread.php?53208-Foreign-Minister-discusses-with-UN-Secretary-General-s-Representative-in-Iraq-the-rec
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Iraq sets a milestone by entering the international market with its first sale of independent bonds
BGG ~ While staying away from gross generalizations, it would appear they are deep within the “process” of being re-engaged with world economies… even if they aren’t being “officially recognized” just yet.
As we discussed on the last call, they reportedly had much more interest than they had actual bonds to sell during this last offering.
Obviously – we’ll see a follow-up bond offering. However, I would suspect there could be some restraint to this particular action by the IMF, etc, until they are content with Iraq’s compliance.
None of the above is saying the IMF isn’t perfectly satisfied with their progress to date, nor am I saying any of this is directly tied to potential value change. It is merely my view of things.
(The above Tweet and video was courtesy Okie Dinar)
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Baghdad exhibition .. Gate of construction and reconstruction after the victory
With the announcement by the General Company for Exhibitions and Trade Services of Iraq in the Ministry of Commerce allocated free spaces for countries wishing to participate in the Baghdad International Exhibition in its 44th edition, an economist saw the importance of festivals and exhibitions such as this and implications for the Iraqi economy. The expert Rahim Al-Shammari said ” Baghdad International Fair and the exhibitions of Arbil, Basra, Maysan and others, have an importance in bringing the distance between Iraq and Arab and foreign companies. ”
He pointed out that “the need to invest these annual gatherings, by attracting giant companies to invest in Iraq and participate in reconstruction campaigns and construction and the implementation of development projects, as well as trade exchange, and the offer of local goods, which means opening the Iraqi market to its farmers in front of companies.
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BGG (Dinar Guru) – …The correct terminology you’d look to hear from them [Iraq] would be monetary reform [Instead of RV] or you’d look to hear something along the line of deleting the zeros project or something along those lines might be what’s you’d be looking at…it’s going to have a bunch of good news particularly financial good news. However, if you’re looking for some actionable information forecasting this event, I guarantee you will be disappointed. It will just happen. They are not going to telegraph it…I think the cat was out of the bag a long time ago…By the way, it’s kind of interesting that we are seeing this slew of articles lately that are talking about, in big terms, all the success that is coming to Iraq soon.
Read more: http://www.dinarupdates.com/observer
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International Monetary Fund expects positive growth of Iraqi economy in the medium term
The International Monetary Fund (IMF) expects a positive growth of the Iraqi economy over the medium term thanks to improvements in the security situation and the implementation of infrastructure projects.
“Iraq is currently facing a double economic challenge of compensating for the material losses caused by the war against Isis as well as the decline in oil production and prices,” the IMF said in a report.
“Iraq’s real gross domestic product rose by 11 percent in 2016, as a result of a 25 percent rise in oil production, which was not significantly affected by the conflict with Isis at the time,” he said.
The report added that it expects economic activity this year to see no increase due to a 1.5% decline in oil production due to Iraq’s commitment to the agreement of the oil exporting countries (OPEC) and beyond to reduce the level of production because of the very modest recovery of non-oil sectors ”
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Enorrste (Dinar Guru) – Article: “Keywords confirms the existence of a large and promising role for the private sector in the next phase” Quote: “Secretary General of the Council of Ministers d. Mahdi Keywords presence of government plans to give a major role and promising the private sector in Iraq by activating the investment side in the next stage within the sectors of the economy and reconstruction.” I’m with KAP [Guru Kaperoni] on this one. This sort of language doesn’t leave much wiggle room. It seems to me that forces are in play to open the currency to the world before the end of the year. [reference Guru Kaperoni post 7-7-2017]
Read more: http://www.dinarupdates.com/observer/
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Islandg1211 (Dinar Guru) – Today the GOI passed laws related to decentralize government and elections in the provinces. These are important to support the local governments which us apart of the original UN plan to rebuild the country of Iraq as a democracy. So they are complying with the UN sanctions to de-centralize the government. The GOI has actually done something last week and today when they approved the budget amendment. That was a requirement of the IMF, and by passing it, they got the loan installment approval from the IMF’s review. Today’s regional laws help them comply with the UN. So the GOI actual made progress. But, the real need here is a deal with the Kurds. They are coming to Baghdad next week but it’s all about Barzani getting his own country. Also they announced that the budget has been amended and is projected to go from 95% revenue derived from oil down to 85%. That’s an important step to economic diversification that the IMF wanted. [post 1 of 2….stay tuned]
Read more: http://www.dinarupdates.com/observer/
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Central Bank: Procedures for the rehabilitation of banks in liberated areas
He confirmed that the “Da’ash” seized more than two trillion dinars.*The Central Bank of Iraq has taken measures by the Central Bank departments to rehabilitate and open branches of banks in the liberated areas of the control of “Daash”, while he confirmed that the organization “Daash” seized 856 billion dinars and about 101 million dollars after the events of June 2014.
*The bank said in a report published on its website: “The Banking Department has prepared a list of branches of banks previously located in areas of conflict with Dahesh, and the work of branches in each province, classified according to the bank and according to its symbolic figures, for the purpose of establishing the appropriate mechanism for the reconstruction and operation To serve its customers in the light of the department’s book.
In addition, the Banking Supervision Department directed its letter to the financial transfer companies and exchange companies and to implement the directives of the General Secretariat of the Council of Ministers to address the issue of disbursing deposits to their customers and salaries of their branches and employees working in institutions located in hot spots through their branches located in the most secure areas and according to the mechanism prepared for this purpose.
*He pointed out that “the banking department in the preparation of uncles of the banks in the city of Ramadi to practice its work and inform the Department of the history of its inception and the Ministry of Finance to clarify from the government banks on the possibility of achieving this book, and suggested the Banking Department to wait until the security and logistical security sufficient before the Ministry of Interior (Al-Fallujah, Hit, Rutba), the rehabilitation of its buildings has not been completed, and the governorates of Diyala and Salah al-Din have not been completed. The liberated areas of terrorist organization Daesh safe and stable bank branches have been opened in Diyala, it will open bank branches in Salah al-Din.
The bank pointed out that “the Iraqi banking system has been exposed after the events of June 15, 2014, to a major setback because of the control of gangs calling on three provinces are Nineveh, Anbar and Salahuddin, in addition to important parts of the province of Diyala,” noting that ” 121 branches of government and private banks, including the branch of the Central Bank of Iraq.
He added that “the estimates in light of the latest financial situation of the branches of the banks controlled by a subsidy, estimated at 856 billion dinars, in addition to that about 101 million dollars, and most of these deposits belong to government departments and provincial projects within the budget in 2014, including the assets of the Ministries of Defense And the assets belonging to minority members of Christians, Yazidis, Shabak, Turkomans and all other Islamic sects and sects, in addition to the assets of some small local companies whose owners left these cities because of the war and the occupation of Da’ashi.
The bank added that “the pressure worsened on the banking system after the acquisition of the Kurdistan Regional Government deposits in the branches of the Central Bank belonging to the Ministry of Finance of the region, which is estimated at 5 trillion dinars, about 50 percent to the Iraqi Trade Bank, and the other half to more than 80 branches affiliated Private banks, including branches of foreign banks operating in Iraq. ”
He pointed out that “the organization has taken large sums of money since the imposition of control over large areas of Nineveh in June 2014, as the income of the organization of two billion dollars a year, making it one of the richest organizations at the time,” explaining that “Daash became rich through the sale The oil it gets from Iraq and Syria, while it is not disclosed who buys the oil he steals and urges and smuggles to different countries. “
The bank said that “the daily proceeds of the organization” Dahed “of the sale of illegal oil is about two million dollars for the sale of 30 thousand barrels per day, the price of a barrel of black gold in the organization between 25 – 50 dollars before the decline in oil prices in the period
Past “.
The bank said it had taken precautionary measures to protect the banking and financial sector during the period of control over banks and companies, including stopping branches of banks and non-bank financial companies in the governorates of Mosul, Salah al-Din and Diyala, Anbar and preventing the transfer or supply in foreign currency through the window and stop the subscription Branches of banks and non-bank financial companies in the system of electronic clearing and payment system in general and located in these provinces, in addition to other measures taken by the bank.
Read more: http://www.dinarupdates.com/showthread.php?53118-Central-Bank-Procedures-for-the-rehabilitation-of-banks-in-liberated-areas
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Enorrste (Dinar Guru) – Article: “Governor of the Central Bank of Iraq: expect economic movement in the next stage” …this is opening the door to foreign investment. Quote: “noting that “Iraq will be able to attract foreign investment because of the stability of the security situation and increase the number of investment opportunities.” Therefore…we should expect the dinar to be opened to the world market very soon. There will be no foreign investment without an internationally tradable currency.
Read more: http://www.dinarupdates.com/observer/
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The Central Bank prohibits dealing with Iraqi banks with North Korea
Economy News _ Baghdad The central bank called on Wednesday to ban Iraqi banks from dealing with North Korea, citing the UN Security Council resolutions on the prohibition of dealing with them.
“All banks and non-bank financial institutions must take caution and not deal with North Korea in any form of banking or financial transactions,” the bank said in a statement received by the economy.
“This is based on UN Security Council resolutions on the prohibition of dealing with the Democratic People’s Republic of Korea (DPRK),” the bank said.
Read more: http://www.dinarupdates.com/showthread.php?53106-The-Central-Bank-prohibits-dealing-with-Iraqi-banks-with-North-Korea
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Urgent and Important All Authorized Banks Financial Remittance Companies CBI WebsiteUrgent and Important
All Authorized Banks
Financial Remittance Companies
Selling and Purchasing Foreign Currency Mediate Companies
Subject/ WARNING
Individuals and groups have been observed carrying out scams, frauds and blackmail claiming that they have some kind of effect on officials and employees in the central bank or trying to pass specific transactions with forged official authorizations, documents and letters.
We confirm that all allegations presented by those are invalid and not true, and Governor Office should be informed of it immediately whatever the character of the individual or the group. No one to represent or substitute or mediate on behalf of the bank administration and employees in all their levels whatever the relation between them (If it’s true), the central bank is not responsible for whom being neglected and scammed on, since it is fundamentally illegal, rather than what’s required from being careful, caution and investigate the validity of allegations and documentations.
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Post RV Checklist (it’s getting to be that time!! Listen up!!)
Dos and Don’ts of Windfall Wealth:
Treat it like a PowerBall win
– Tell no one, not even family. If you must talk, do so with one who is already in the know.
– Don’t run out & buy new “stuff”. People notice.
– Get an unpublished number and give it out very sparingly.
– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…
Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
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