Clare Article: “Economist: Development Road Project Will Provide Iraq with Great Investment Opportunities” Quote: “The “Development Road” project consists of land and railway roads extending from Iraq to Turkey and its ports, with a length of 1,200 kilometers inside Iraq, and aims to transport goods between Europe and the Gulf countries”
Frank26 I think [US] banks are feeling a little bit more relaxed because I believe the meetings are preparing them for something because time is running short…I’m grateful for the attitude, the change in the atmosphere how things are coming about now.
Militia Man The Development Road Project is going be massive. It’s going to create an environment that’ll be seen for many decades long after I’m gone. I’m sure of it.
MarkZ “Washington supports Iraq’s efforts to achieve comprehensive economic development” Whenever a country is about to revalue- you will see this lady (Alina Romanowski) being an ambassador there. She had experience with Kuwait.
Clare Article: “Kurdistan Finance Deposits More Than 77 Billion in Non-Oil Revenues into Baghdad Treasury” Quote: “This amount represents the share of the general federal treasury from the non-oil revenues of the Kurdistan Region of Iraq for the month of June.”
Frank26 Article 140 census was done many many years ago and used to calculate the HCL. They’re doing the new census now because they’re going to introduces a new rate.
Breitling Just to be clear this is not an investment. It’s speculation…I’ve used that in the past, it’s an investment. That’s incorrect. We are speculating. That’s a completely different ballgame. Investing is something completely different.
Sandy Ingram The average cost of living for one person in Iraq is $754/month. This amount includes rent therefore when Iraq creates a safe environment hundreds of thousands of travelers could easily spend $2,000 a month on average in Iraq. To understand how tourism can help change a country’s GDP you only have to look at Mexico.
Wolverine [via Judy Byington] My sources say everything is going this week. I have absolute faith we will go this week… Things started. The green light was given…
Clare Article: “Counterfeiting currency in Iraq.. Is the responsibility of the Central Bank or the government?” Quote: “Two printers used in counterfeiting operations were also seized, as well as a yellow Renault wheel used in distributing counterfeit currency,” she continued, stressing that “legal measures were taken against the accused, and it was proven through the investigation that there is a person residing outside the country who visits the home of one of the accused from time to time and brings new and modern editions of counterfeit currency, which are distributed in Baghdad and Basra through one of the accused who has a relationship with one of the arrested accused”
Militia Man Article Quote: “The Trade Bank is opening depository accounts for deposits only…” That’s the kicker right there… They’re enticing the people to come in bring in their hoarded money…Why are they creating bank branches specifically for bringing in deposits? That’s the hoarded money…If they’re going to get it out…what’s the incentive? Why bring all your money in at 1310? …They’re going to need incentive and I think the real effective exchange rate is going to be that incentive…
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Mr. Sammy…knows someone that attended a big meeting with the Untied States Treasury and the CBI and they said Iraq is coming off the electronic platform. FRANK: The auctions. FIREFLY: And expanding the dinar to go outside of our borders and go international at the end of the year. So all we will see for now on, according to Mr. Sammy, are just steps taking place to get there. But the grand prize will not happen until the end of the year. Mr. Sammy said his friend was there and knows this first hand. FRANK: My heart still holds out for this year though but…these two months are important to make sure everything comes out in order for the citizens to be successful.
Mnt Goat Finance Minister Taif Sami Mohammed stressed the need “to adhere to timetables to achieve economic reforms”. Yes, Iraq is on a timetable, and I don’t think they are going to mess this one up under Al-Sudani as they have in the past.
MarkZ [via PDK] “Financial Advisor: Increasing iraq’s share in the International Monetary Fund is a step to enhance the stability of the dinar” This is a big piece and now we are starting to feel that effect. It is increasing the stability and the prominence of Iraq. The dinar is becoming a “Special Drawing Rights “ (SDR) Currency …and recognized worldwide.
