Iraq seeks to strengthen its economy through oil
Memorandums of understanding with neighboring countries and the search for new ways to export
Iraq seeks to strengthen its oil production, which results in the strengthening of the economy in general, through several measures and movements, including the investment of common fields and ensure the provision of huge stocks and the search for new ways to export.
Oil Minister Jabbar Ali al-Allaibi announced Iraq’s keenness to strengthen bilateral relations with neighboring countries and increase the volume of cooperation in all fields, including the oil and gas sector and energy through the conclusion of agreements or memorandums of understanding in order to enhance the state of economic integration between them and achieve the common goals and interests of the countries of the region and contribute to Strengthening its economic, political and security stability.
He said relations with neighboring countries and Arab countries have witnessed a significant positive development in the last few years, including the signing of a series of memorandums of understanding and cooperation with Jordan, Egypt, Kuwait, Saudi Arabia, Iran and others.
Read more: http://www.dinarupdates.com/showthread.php?53253-Iraq-seeks-to-strengthen-its-economy-through-oil
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Trump seeks political change in Iraq, with Abadi as PM – Analyst
The US seeks a major political change in Iraq in the next election, with Haider al-Abadi as Prime Minister, political analyst Wathiq al-Hashimi said on Saturday.
In a press statement, Hashimi asserted that the Trump administration sees that Abadi achieved a major victory against ISIS terrorists and is impressed with his cooperation with the US-led Coalition.
Hashimi further said that Mullah regime seeks to preserve the status quo in Iraq since it is the biggest benefactor from the current situation in the country.
He noted that Nouri al-Maliki and Ammar al-Hakim are Mullah regime’s biggest allies and contribute so much to its agenda in Iraq.
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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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Shredd (Dinar Guru) Article: “The Iraqi Trade Bank: The global market has begun to trust the future of Iraq’s economy” Take a look at this part: “…a number of comprehensive offers in London, Boston and New York and received a positive attention by investors from global investment funds, and proceeds of the IPO value of what was on the market more than seven times the amount required.” This is a big deal folks. Investor confidence and then some! This strong investor response will result in more investment, that is guaranteed! The rating holding is good too. As Iraq prepares to respond economically to the lower oil prices, selling their debt like this makes sense and again, the investor appetite is awesome to see! [post 1 of 2….stay tuned]
Read more: http://www.dinarupdates.com/observer/
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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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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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