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“We Know What this Means” – Sat. AM KTFA Thoughts, News w/ Frank26 10-15-22

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Frank26 » October 15th, 2022

THE LEADER OF THE FINANCE COMMITTEE HEADS A DELEGATION FROM IRAQ TRAVELING TO DC TO MEET WITH THE IMF AND THE WORLD BANK….. WOW WE KNOW WHAT THIS MEANS, ALL THE RIGHT MONETARY REFORM HEADS ARE THERE NOW!!!”………F26

Clare » October 15th, 2022

The Deputy Minister of Finance participates in the monetary and World Bank meetings and stresses the comprehensive development

10/14/2022

The Minister of Finance, Ihsan Abdul-Jabbar Agency, headed the Iraqi delegation participating in the meetings of the International Monetary Fund and the World Bank, held in Washington, DC, with the participation of the Undersecretary and a number of general managers.

A statement by the Ministry of Finance stated that Abdul-Jabbar “conducted several side meetings with a number of financial and economic institutions, during which he stressed the importance of strengthening relations with various international partners, and the trend towards developing areas of regional and international cooperation.”

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Minister Abdul-Jabbar indicated the efforts aimed at solving all problems and removing obstacles that accompany the process of promoting investment opportunities and establishing projects in Iraq, stressing the need to involve the private sector to take its role in the overall economic activity to achieve comprehensive and sustainable development.

Participation in the IMF and World Bank meetings included central bank governors, ministers of finance and development, senior officials from the private sector, representatives of civil society organizations, and academics to discuss issues of global concern.

The Iraqi delegation’s visit comes as part of efforts to enhance and deepen the areas of economic cooperation with the two international institutions, as well as Iraq’s intention to obtain technical and technical support from the US Treasury and other financial institutions, according to the statement.

It is noteworthy that the House of Representatives voted on September 11, “on a parliamentary decision to terminate the assignment of {Ihsan Abdul-Jabbar} the Minister of Oil from his position as the Deputy Minister of Finance due to the intersection of his work with the provisions of the amended Financial Management Law and at the request of 146 deputies, to assign the Speaker of the House of Representatives The ministers were replaced by another person.    LINK

Economist: The new government has a golden opportunity to reduce the dollar exchange rate

Information / Baghdad…

The economic affairs specialist, Muhammad Al-Saadi, confirmed that the new government has a golden opportunity to reduce the exchange rate of the dollar in the local markets and raise the value of the Iraqi dinar, pointing out that all conditions are prepared for this measure.

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Al-Saadi told “The Information”, “Iraq has achieved a great financial abundance after the significant rise in international oil prices, which raised the central bank’s reserves to more than 80 billion dollars.”

He added, “The increase in oil prices and cash reserves will enable the new government to gradually reduce the dollar exchange rate during the next stage, as this is considered one of the first decisions that can serve the people.”

And he indicated that “there is an appropriate ground to attract foreign investments to establish oil refineries in the governorates and work on the export of derivatives and thus return to the country with large revenues, as well as achieving self-sufficiency in derivatives, and in sum, the government’s high exchange rate achieved can be achieved through other doors.”    LINK

Source: Dinar Recaps

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