Iraq signs an agreement with the European Union to finance the government’s efforts to reconstruct the areas
BAGHDAD (Reuters) – Iraq will sign an agreement on Wednesday to fund reconstruction efforts by the Iraqi government, financed by the European Union, the Ministry of Planning announced on Tuesday.
“The signing ceremony will take place at the headquarters of the Ministry of Planning at 9 am on Wednesday,” the ministry’s spokesman Abdul Zahra al-Hindawi said in a statement received by Iraq News.
He added that he “will sign the Iraqi side of the Minister of Planning Salman Jumaili and the European Union Ambassador of the Union in Iraq and will be followed by the signing of a press conference to explain the details of the agreement and the amounts and projects funded by”.
Read more: http://www.dinarupdates.com/showthread.php?55635-Iraq-signs-an-agreement-with-the-European-Union-to-finance-the-government-s-efforts
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G-Lin (Dinar Guru) – Article: “The Central Bank strengthens banks in local currencies of small groups” Quotes: “…the printing of the Iraqi currency and replace them cost amounts,” calling on citizens to maintain and maintain Bank notes when trading.” “the Central Bank has announced a tender for the printing of new banknotes (small categories) in the printing companies of the world.” Is this the beginning of distribution of L.D.’s? If so, they did it last month. It just doesn’t make sense to me for CBI to go to the expense of printing 1000’s and 500’s based on today’s value unless they intend to give them a higher value. It cost more to print them than they are worth. Of course they wouldn’t tell us if they distributed anything smaller. That would tell us too much.
Read more: http://www.dinarupdates.com/observer/
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US Emphasizes Importance of Sound Banking System
US Ambassador to Iraq Douglas Silliman (pictured) has joined other distinguished guests and speakers at the Iraq Banking and Investment Summit on December 2.
The Ambassador spoke about the need to create economic opportunity for Iraq’s younger generation through a transition from a government-controlled, oil-based economy, toward a more diversified free market system that fosters and encourages private investment.
He noted the need to improve the ease of doing business in Iraq and emphasized that a sound banking system will be crucial to provide financing for aspiring entrepreneurs and business people.
Read more: http://www.dinarupdates.com/showthread.php?55630-US-emphasises-Importance-of-Sound-Banking-System
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G-Lin (Dinar Guru) – A well-informed political source reveals the “identity” of the two companies that the Abadi government contracted with to help fill corruption files... Article quote: “A source familiar with the political, on Sunday, that two companies are conducting the verification of files of corruption in Iraq since 2003. The source said in a press statement that ‘two companies, one American and one British are conducting the audit files corruption in Iraq since 2003 so far, and its task to detect corruption and identify the identities of those involved.” The investigation into the corruption cases is due to start on the basis of a memorandum of understanding signed by the Iraqi government with the United Nations. International investigators will assist the Iraqi government in uncovering the fate of Iraq’s $ 361 billion budget deficit between 2004 and 2014.
Read more: http://www.dinarupdates.com/observer/
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Kaperoni (Dinar Guru) – Article: “Expert for {morning}: 2018 will see a renaissance by making {in Iraq}” Quote: “the government has worked during the last term on the advancement of the industry through a partnership with the private sector, but the move has seen a delay because of the war on terror, but we hope to be activated during the next year” [2018 it is.] I dont like to get overly excited. This could take another 3-6 months before they get into Article VIII and begin to float. Nothing moves fast in Iraq. But we can hope.
Read more: http://www.dinarupdates.com/observer/
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Governor of the Central Bank of the first economic profile for 2017
*The support provided by the Central Bank to the national economy during the economic and financial crisis and the war on terror is a shining point and a successful experience of success in a country that is going through harsh conditions and a historical phase which is the most difficult to face the economic and security challenges that no country has experienced in the world during the last three years like Iraq.
As proved Mohsen Alalak, Governor of the Central Bank of Iraq and his team that they are Mujahideen of first-class in the promotion of economic steadfastness and achieve financial stability and financial victory. Through prudent efforts and measures and the applications of monetary policy and the development procedures of the Central Bank in the difficult economic stage of Iraq that they were able to draw a strategy for the years (2016-2020) and a clear roadmap goals and ambitions to stabilize the financial system and stimulate fiscal growth and financial inclusion and structural and institutional construction and investment Human capital through the achievements of its mission achieved during the years (2015-2017), the most prominent: maintain the inflation rate of not more than 2% and the level of foreign reserves within acceptable rates in accordance with international standards, where the reserve.
A foreigner to Iraq up to $ 47 billion and stimulate the banking sector regulatory and supervisory and supervisory and establish new units within the regulatory structures of banks such as compliance and combating money laundering and financing of terrorism and credit and operational risk management and the issuance of the law of money laundering 39 for 2017 and the development of payment systems and the application of all payments by retail and mobile phone and the establishment of the national division
Read more: http://www.dinarupdates.com/showthread.php?55629-Governor-of-the-Central-Bank-of-the-first-economic-profile-for-2017
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Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733
11/08 – Recorded Call Replay Link
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Abadi and Russian minister discuss expanding the participation of Russian companies in reconstruction and investment projects
Alsumaria News / Baghdad Prime Minister Haider al-Abadi and Russian Energy Minister Alexander Novak on Tuesday discussed bilateral relations between Baghdad and Moscow in five areas and ways to expand the participation of Russian companies in reconstruction and investment projects.
“The Prime Minister Haider al-Abadi received today, Russian Energy Minister Alexander Novak,” said Abbadi’s office in a statement received by Alsumaria News. “During the meeting, they discussed the development of bilateral relations between the two countries in the fields of energy, economy, trade, oil and electricity, Expanding the participation of Russian companies in reconstruction and investment projects. ”
“Novak congratulated the Iraqi victories on the terrorist gangs and stressed the position of his country supporting Iraq in various fields.”
Iraq is seeking to strengthen its relations with the countries of the world and specifically its regional environment, especially during its battle against the organization “Daash”. Abadi stressed on more than one occasion Iraq’s keenness to build good neighborly relations with the surrounding countries.
Read more: http://www.dinarupdates.com/showthread.php?55640-Abadi-and-Russian-minister-discuss-expanding-the-participation-of-Russian-companies
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G-Lin (Dinar Guru) – Abadi has a ridiculously tough job and I don’t think he can do it alone. Amal Clooney has appeared before the U.N. several times begging Abadi to sign a simple doc. that would open Iraq up to the I.C.C. and to my knowledge he has not cooperated yet. Parl. probably has him handcuffed. So frustrating. The I.C.C. has all of the docs. on Maliki and many more and interpol could issue arrest warrants immediately. Maliki and Barzani are too powerful and charges must be brought up in the international courts. Curtailing Iran’s influence is no easy task. I did read yesterday where Russia is giving some resistance to Iran and the Gulf summit will be held in Kuwait next week. Results of that summit may be fruitful
Read more: http://www.dinarupdates.com/observer/
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Kaperoni (Dinar Guru) – We all should know by now currency reform is a process. Currency reform like we want to see requires stability, implementation of technology, and planning. From what I am reading, progress has been made in recent weeks with the new CBI law, anti money laundering, electronic banking. But this takes time to implement and activate. Not to mention the CBI still has work to do to be in compliance with the IMF. The good news is the CBI is pushing forward on reforms, have banking events scheduled next month, next year. With all this known, hopefully we will see changes in the next few months to perpetuate the banking system and encourage investment
Read more: http://www.dinarupdates.com/observer/
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Jubouri: Budget deficit in 2018 is too large
Said the Speaker of the House of Representatives Salim Jubouri, the proportion of deficit in the financial budget for 2018 is very large and this does not mean that there are no outlets to overcome the difficulties.
“How to reduce the spending and we have thousands of graduates waiting for the state to create jobs for them,” Jubouri said during his visit to the Taji beach area north of Baghdad and his meeting with the people of the region.
“We are coming to the stage of building and stability after the victory over terrorism and the construction process is no less important than confronting terrorism,” he said, noting that “there are eight precious costs that Iraqis have paid for stability.”
“It is our duty to protect the blood that has been made for the unity of the Iraqis, and there are people of our people who have fallen under the injustice and need us pause to lift the injustice from them, and the right of the people is to provide opportunities and alternatives to overcome the challenges facing.
Read more: http://www.dinarupdates.com/showthread.php?55637-Jubouri-Budget-deficit-in-2018-is-too-large
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Kaperoni (Dinar Guru) – So what is the Balassa-Samuelson effect hypothesis? We will get into this…as this little nugget is very important to us as dinar investors. We already know the plan is to float dinar based on the IMF statement…(gradual appreciation) [reference Guru Kaperoni post 11-30-2017]. When you search Wikipedia, you get an explanation for this as…”Balassa–Samuelson (BS) hypothesis implies that countries with rapidly expanding economies should tend to have more rapidly appreciating exchange rates.” In other words, the IMF themselves are acknowledging (by saying Balassa–Samuelson effect in this Article IV document) the dinar will rise rapidly.
Read more: http://www.dinarupdates.com/observer/
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Sandyf (Dinar Guru) – Guru Kaperoni quote: “Once they float, it may take 6 months to a year to get to $1” With appreciation at 5% a week it would take about 140 weeks to reach parity. No economy could tolerate that level of appreciation it would be more like 0.5% a month. In reality a float would be more like 6 years to a lifetime.
Read more: http://www.dinarupdates.com/observer
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The Iraqi parliament is seeking to pass a law “from where you have this” to be applied to officials from general managers and above
The legal committee in the Iraqi parliament has revealed efforts to pass a law (from where do you have this?) To apply to officials from general managers and above, while pointing out that the proposed law will also include officials in the Kurdistan region.
“After Prime Minister Haider al-Abadi announced the war on corruption, we need a law to prosecute corrupt people and verify their sources of wealth,” committee member Zana Said said in a health statement on Wednesday.
“The proposal includes the prosecution of all directors-general and higher in all provinces, as well as in the region because officials there acted with imported federal revenues Of oil and customs and the federal budget, which was the disposal of the region, “noting that” there is likely to be enrichment without cause and misappropriation. ”
A member of the parliamentary legal committee that “the duties of the federal government to be keen on public money and to track those officials who have influenced for no reason and had an illegal gain,” adding that “time enough to approve this proposal, especially with a real will to eliminate corruption and will Also popular
Read more: http://www.dinarupdates.com/showthread.php?55572-The-Iraqi-parliament-is-seeking-to-pass-a-law-quot-from-where-you-have-this-quot-to-be-applie
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Breitling (Dinar Guru) – There’s never been an “In country revaluation”. That’s the most retarded thing I’ve ever heard in my life. You can’t have a currency where it’s one price in one country and another price in another country. And all the rest of the world is a different price. How does that work? If that’s true then I’ll just take my dinar and go to Iraq and exchange my currency. If i’m going to exchange for millions and millions of dollars that’s not going to be a threat to me is it? So that’s stupid and doesn’t make any sense.
Read more: http://www.dinarupdates.com/observer/
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Kaperoni (Dinar Guru) – There are several articles going back a year or two that clearly state that the WTO wants to see dependence on oil drop to about 80% or so before it is viable for accession. So in other words, Iraq needs to get the private sector started and creating some exports before they will get into the WTO. That being said, we know the requirements so it motivates the CBI to get currency reform done.
Read more: http://www.dinarupdates.com/observer/
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Click this link to join the DU “private” FaceBook Group…
https://www.facebook.com/groups/571383766355188/
(go here and ask to join… then add some Dinar Friends!!)
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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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