Clare Article 1 “To strengthen economic relations.. Reopening of the Swiss embassy in Baghdad” Quote “Switzerland…reopened its embassy in Iraq, after a 33-year hiatus.” Article 2 “Iraq renews partnership with Swiss global company Roche to enhance therapeutic capabilities“
Samson Article: “Swiss Embassy in Baghdad reopens” Quote “Switzerland reopened its embassy in Iraq…after a 33-year hiatus.”
Pimpy Article: “The Iraqi Central Bank announces the results of his visit to New York: A high ranking delegation negotiated with the US Treasury” There will be another big meeting by the end of this year...They’re trying to find stability in the exchange rates…This is not really new. This is what Iraq has been doing recently, focusing on the banking sector because that’s a big part of them getting out of the dark ages and start working internationally once again…Is this a step in the right direction? Of course it is. But does this mean they’re going to change the exchange rate anytime soon? No. There’s no indication either way…
Militia Man Road Development Project is going to be phenomenal. What we’re going to see is the Untied States is going to be sticking around in some shape of form to protect their assets.
MarkZ [via PDK] Things are going very well in Iraq. What does that mean timing wise? A number of my contacts over there are convinced we will see something in the next 2 days. Don’t ride the roller coaster…just wait and see.
Clare Article: “Economist talks about new measures after stopping transfers” Quote: “the Governor of the Central Bank of Iraq, Ali Al-Alaq, in New York over three days with US Treasury officials gave a new boost and confidence to the Iraqi banking system…The Central Bank of Iraq will stop dealings with foreign correspondent banks in the future and reduce reliance on them, after developing the Iraqi banking relations network…and gradually ending work on the electronic platform for transfers and replacing it with direct banking relations between Iraqi banks and the network of international correspondent banks.”
Fnu Lnu The recent visit of the CBI to New York was most assuredly to have a chat with the Federal Reserve Bank of New York. The FRBNY is holding the DFI funds and has been since 2003. I should imagine that the CBI was discussing the release of the funds back to the CBI as part of the economic reform regimen. In the past, accounting of the funds has come under scrutiny…1.7 Billion was unaccounted for, so said the Pentagon. Distrust has been an issue. In 2020 the State Department threatened Iraq with denial of access to the funds if Iraq ever insisted the United States military withdraw. [Post 1 of 2…..]
Fnu Lnu Iraq has attempted exactly such a demand of late. I’m sure these demands and threats were a topic of discussion at the recent meetings. In 2021, the American authorities assured the CBI the funds were secured and accounted for but I should imagine the CBI wanted proof with the conclusion of the economic reform project drawing near. So you see, the recent meeting in New York has everything to do with the monetary reform as the numbers must be crunched and amounts verified. I see this as a positive in the grand scheme of things. [Post 2 of 2]
Militia Man Article: “Away from the grey list” Article quote: “Due to the spread of this phenomenon means the Iraqi business environment has become compliant with international standards.” They’re ready to be Article VIII compliant…To be in compliance you’re going to have to have an exchange rate…1310 isn’t one of them… This reeks of Article VIII compliance with the IMF, knocking on the door. I think that is powerful.
Mnt Goat …Iraq told us all about how they fully intend to get back the “glory days of dinar” and so…Yes, simply put, they are doing it… at this point the pieces are all aligning so nicely…it’s all about implementing the Financial Reforms and then comes the Project to Delete the Zeros followed by the Reinstatement. You can’t do one without the other… it certainly “is not all done”… the path to the reinstatement is crystal clear… you can see the writing is on the wall. I don’t say this lightly either. We are just about there…
Clare Article: “Central Bank of Iraq makes progress in reforming banking sector” Quote: “US Ambassador to Iraq Alina Romansky confirmed [via tweet]…the Central Bank of Iraq has made progress in reforming the banking sector...We commend the progress made by Iraq and the Central Bank of Iraq in reforming the Iraqi banking sector in partnership with the US Treasury and the Federal Reserve during recent meetings in New York, where the two parties discussed ways to cooperate to enhance transparency and integrity in the Iraqi banking sector.”
MarkZ [via PDK] Comment: 13 banks over there are set up for foreign currency exchanges. Saw an article on that a few days ago. MarkZ: Suddenly they are operating as if they were already in the WTO. And yes…13 of their banks can now take international exchanges. It’s curious and I think tells us how close we are.
