KTFA:
Clare: Al-Sudani is in Basra on Saturday to lay the foundation stone for Al-Faw Road and open an investment conference
11/29/2023 Baghdad
An informed source revealed today, Wednesday (November 29, 2023), that Prime Minister Muhammad al-Sudani will visit Basra Governorate next Saturday.
The source told “Baghdad Today” that the Sudanese “will lay the foundation stone for the Al-Faw Road project during the short visit and open an investment conference.”
During the past few days, the Basra government announced that the Al-Faw Road project would soon be referred for implementation, describing it as a “strategic and important road.” LINK
DCDrivor: Saudi Arabia M2 is 626 billion. Kuwait is 126 billion. Iraq is 100 trillion. Can someone Please tell me how Iraq goes 1:1 out of the gate? Thank you (the USA is 21 trillion) how does Iraq reign in trillions of dollars?
Harlequinc3: I’d like to try my hand at this. Of 100t total mass, 70t is in circulation according to the article in the final thread. But a vast majority may be held as foreign reserve by various countries’ central banks and private banks.
So that money is quickly and easily digitally transferred back to Iraq in the new electronic platform at negotiated rates and ‘deleted’ from ‘circulation.’
These would be staggered, timed transfers. I think that’s what the ‘RV phase’ calculations were all about. As they’re ‘deleted’, that’s what provides the backing support for the new currency and what causes it to rise in the float at staggered, preplanned intervals. (A partially managed, or ‘dirty’ float as it’s called.) That’s how the auctions will change.
This would be the ‘redenomination’ phase — the old bills are phased out to back the rate of the new. Lastly, the amount of dinar in people’s hands is a much smaller figure than we rearise, so it’s not nearly as much as a variable as people think.
The vast majority of the 70t is already accounted for and ready to be deleted quickly in preplanned intervals. After that dirty float period, then the dinar will be a pure float in a basket of currencies like other countries’ money, with the rate being manipulated purely by supply and demand with no CBI influence — all with the new dinar only.
Iraq’s monetary policy will change from expansionary to contractionary in a controlled float, in other words.
As more old dinar is ‘deleted’ they put out new dinar until it hits the preplanned M figure. This is why they’re ‘testing’ the new small denoms in Erbil, in Frank’s opinion, to see if the calculations are correct. This is what the ongoing meetings between CBI and UST are all about — the math of removing the old dinar from circulation.
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Clare: Prime Minister: We provide all facilities to major investment companies of various nationalities
11/30/2023 Baghdad
Prime Minister Muhammad Shia Al-Sudani confirmed today, Thursday, that Iraq has many promising investment opportunities, and they are available to all investors, during his meeting with the President of the Chinese Changxin Company, Zhang Jiming.
The Sudanese media office stated, in a statement received by Al-Iqtisad News, that the latter “received the president of the Chinese Changxin Company, Zhang Jiming, and his accompanying delegation,” noting that he confirmed during the meeting that “Iraq has many promising investment opportunities, and they are available to all investors.” .
The Prime Minister stated that “the government will provide all the facilities needed by major companies of various nationalities.”
Changxin Company, which is considered one of the largest Chinese companies and has multiple investments in various countries of the world, will implement a project to establish an advanced industrial city in Basra Governorate for the manufacture and production of iron, using sponge iron. It is also in the process of contracting to establish a special project for sulfur investment in Iraq. “With the aim of exporting it abroad,” according to the statement.
He pointed out, “These projects come within the government’s directions to invest in natural resources and mineral wealth throughout Iraq, and to revitalize the industrial sector, which represents a pillar of the economic reform packages that constitute a priority in the government program.” LINK
