Samson Article: “Parliamentary Finance: The government is working on preparing the basics of the 2025 general budget to present it to the House of Representatives”
Militia Man Taking a country to international level is going to be a major major deal. It’s going to take a lot of time still but they’re going to have to get started. They’re going to have to go international to get it going.
MarkZ [via PDK] “Dollar falls slightly in Baghdad Stock Exchange and exchange” This is showing us stronger stability which is something Dr. Shabibi wanted before a new value.
Frank26 I’m using Chase. There are many other banks you can use that exchange foreign currency, it’s not just Chase. I use Chase because…their partner JP Morgan. You see Chase Bank is not going to exchange the currency for you. No, they don’t have that type of capital. Their partners JP Morgan will exchange the Iraqi dinar for you…
Clare Article: “Al-Sudani: $100 billion is the size of investment opportunities in Iraq” Quote: “Iraqi Prime Minister Mohammed Shia al-Sudani confirmed that the investment opportunities available in Iraq exceeded $100 billion in value, pointing to the expansion of economic cooperation between Iraq and Egypt.”
Pimpy Article: “Credit Bank of Iraq achieves a profit of 20.4 billion dinars” This article is definitely a very good one for those of us who are invested in the Iraqi Stock Exchange…I only anticipate the bank stocks going up more and more…They might be some of the fastest growing stocks in Iraq. The reason for that is because they keep expanding on the banks, putting them through reform…All that’s going to do is drive up the value of the stocks…
MarkZ [via PDK] In Iraq “Parliamentary Finance sets the date for the 2025 budget to reach parliament” Very early next year. This is curious to me but think they may be avoiding releasing it until after they have the rate change and exchanges…so strangely enough this fits in very well to what I am hearing. That they need to get the rate change done soon. They need to change rates and do everything they need to do before approving that budget.
Sandy Ingram [Reference Guru Sandy’s WTO post from 3-22-2024 below] What is the WTO and why does it matter? The World Trade Organization is an international group that helps countries trade with each other fairly and efficiently. Joining the World Trade Organization will help Iraq grow its economy by making it easier to buy and sell good with other countries.
Above mentioned Post is below
Sandy Ingram Iraq has completed the necessary prerequisites to join the World Trade Organization WTO. This pivotal development reported by Gulf News marks new chapter in Iraq’s economic journey…Joining the WTO is not a mere formality, it necessitates a commitment to aligning with WTO rules by enhancing private sector performance and overhauling trade policies…. Membership in the WTO is a significant milestone for any country.
Wolverine [via Judy Byington] It’s coming this week. That’s all I’m allowed to say.
Samson Article: “Al-Sari: The population census guarantees fair distribution of wealth and parliamentary representation of the governorates”
Militia Man This is October 2024 and they still have yet to expose the 2024 investment side of the budget, yet they’re talking about the 2025 budget now. [The 2024 budget] adjusted amendments haven’t been published in the Gazette just yet. Hopefully they’ll expose that at any time.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Mr Sammy [Iraqi bank manager friend] wants you to know one of the things they strongly talk about is that currency flotation, and stop the currency auctions, it will be a big solution to help end the black market. FRANK: The currency flotation will be big to end the black market because the CBI auctions, let’s say that would be to the left, but no more. That road to the left has been shut down…So which way can it go? Only to the right. What is to the right? An international float. If it has an international float it’s going to go up in value because everybody’s going to use it buying, selling, trading with the currency adds value as it goes into the float.
MarkZ [via PDK] “Iraq to build longest submerged tunnel in the Middle East” Iraq is boosting trade routes and becoming a hub…they are going to be able to greatly increase oil exports.
Mnt Goat Article: “IRAQ INCREASES RESERVES AT IMF BY 50%” Quotes: “A meeting of the Iraqi Cabinet this evening approved an increase in Iraq’s quota at the International Monetary Fund (IMF) by 831.9 million Special Drawing Rights (SDR), equivalent to 1.45 trillion Iraqi dinars [$1.1 billion] based on the exchange rate as of October 8, 2024.”; “SDRs represent a weighted basket of major international currencies, and can be held as part of a country’s foreign exchange reserves. Adding SDRs to a country’s international reserves makes it more resilient financially.” Iraq could not be granted SDRs unless it was member of the IMF. Did they move to Article 8 already? That is the question we seek. I believe they have with this sizable SDR…
