News, Rumors and Opinions Sunday 3-17-2024
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Frank26 [Iraq boots-on-the-ground report] FIREFLY: Alaq was on TV Channel One talking…with the United States Treasury on reconsidering sanctions on our banks. FRANK: He’s going over there to tell them about the new exchange rate…
Mnt Goat I have to say that the CBI cannot turn back from all the progress already made. Also remember that the citizens of Iraq are reading all these articles too about increasing the value of the dinar and so it is way beyond the point of returning to the same old, same old…Remember two things if nothing else: 1. It’s not IF but WHEN this event is going to happen and; 2. It has to happen and soon.
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TNT:
Tishwash: Ramadan without high prices.. Economy Parliament acknowledges the government’s success in controlling the market
Today, Sunday (March 17, 2024), the Parliamentary Economy and Trade Committee confirmed the success of the Iraqi government, headed by Muhammad Shiaa Al-Sudani, in controlling food prices during the month of Ramadan.
Committee member Ruqaya al-Nouri told Baghdad Today, “The various government efforts of the Ministry of Commerce, security agencies, and other regulatory bodies have greatly succeeded in controlling food prices, preventing any manipulation of those prices, controlling the market, and preventing any exploitation of citizens.”
Al-Nouri stated that “the follow-up and monitoring campaign for all markets is ongoing and is not limited only to the beginning of the month of Ramadan, but rather it is ongoing and there are arrest campaigns for some who tried to manipulate prices, and the imposition of the law pushed to control the market and prevent cases of manipulation that occurred every Ramadan during the past years.” By some greedy people.”
Through several measures, the relevant government agencies were able to reduce the prices of meat, which is the most prominent commodity whose prices rose during the past weeks and reached 25 thousand dinars for a kilo of lamb, and 20 thousand for veal, before prices dropped to between 12 and 18 thousand dinars for veal and lamb. link
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Tishwash: Ministry of Oil: We are keen to accelerate the implementation of optimal investment plans for oil and gas wealth
The Ministry of Oil confirmed, on Sunday, its keenness to accelerate the implementation of plans for optimal investment of oil and gas wealth.
The Ministry stated in a statement, seen by Al-Iqtisad News, that “The Director General of the Central Oil Company, one of the formations of the Ministry of Oil, Muhammad Yassin, confirmed during his inspection of the development work of the (Al-Khasham Al-Ahmar and Galabat) fields in Diyala Governorate, the keenness of the Ministry of Oil and the company to accelerate the implementation of plans.”
“Optimal investment of oil and gas wealth, by providing the appropriate investment environment for the work of international companies that won the fifth licensing rounds to develop oil and gas fields and sites.”
He added, “This visit comes within the directives of the Minister of Oil aimed at following up on the direct operations to develop and rehabilitate the Khashm al-Ahmar and Galabat fields in order to invest good quantities of gas by the Emirati company Al Hilal, which won the development of the two fields, within the dates and commitments to the development plans, all the way to production.” Pointing out the importance of “developing these fields in adding new quantities of oil and gas to national production.”
The statement explained, “The company’s general director held a meeting with the security leaders in the governorate, with the aim of security coordination and cooperation in this field,” noting that “the general director was accompanied on his inspection tour by a number of directors of the relevant technical bodies and departments, and a representative of the Emirati company Al Hilal, the developer of the two aforementioned fields link
BRICS Currency to Overtake US dollar: De-dollarization start!
Fastepo: 3-17-2024
The global economy has long operated under the hegemony of the US dollar and other major Western currencies. This dominance might soon be contested if the BRICS nations—Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, UAE and Saudi Arabia—have their way.
The proposition of a BRICS currency signals a desire for a seismic shift in economic power dynamics, challenging the traditional reliance on Western financial systems.
At the heart of this movement is a shared motivation among the BRICS nations to insulate their economies from the fluctuations of the dollar exchange rate and to assert greater economic independence what is also known as “de-dollarization”.
This call for change was echoed by Brazil’s President at the last BRICS summit in Johannesburg, where he advocated for a common currency for trade and investment within the bloc, aiming to “increase our payment options and reduce our vulnerabilities,” as reported by Reuters.
With the dollar accounting for a significant portion of global foreign exchange reserves and being the principal currency in international transactions, any shift away from it would have considerable implications.
The BRICS nations, particularly Russia and China, have openly criticized the dollar’s dominance and have taken steps toward using their national currencies for cross-border transactions.
In this video, we will explore everything about the BRICS currency, including its current status and future prospects, Currency Swap Agreements and overall impact of the currency on global economy to geopolitical perspectives.
