CalandLQ: Hi Family! IMO, I find FA #4999, (Passing of the Budget amendment) to be just what Frank and WS said, but there are some who still don’t seem to understand what’s unfolding right before our eyes. So, to the few, I hope you find the following to be helpful and IMO.
The Iraqi Parliament’s approval of the first amendment to the Federal General Budget Law for the fiscal years 2023-2025 carries significant implications for the country’s citizens.
A key aspect of this amendment is the resolution of longstanding disputes between the federal government in Baghdad and the Kurdistan Regional Government (KRG) regarding oil revenue sharing
Resumption of Oil Exports: The amendment facilitates the resumption of oil exports from the Kurdistan Region, which had been halted since March 2023 due to legal disputes.
Under the new agreement, the KRG will supply 400,000 barrels of oil daily to the State Organization for Marketing of Oil (SOMO), ensuring a structured mechanism for revenue generation and distribution.
Economic Impact: By resolving these disputes and resuming oil exports, the amendment is expected to bolster Iraq’s overall oil production and export capacity. This increase in revenue can enhance the government’s ability to fund public services, infrastructure projects, and social programs, directly benefiting citizens across the country.
Equitable Revenue Sharing: The agreement delineates mutual obligations between the federal and regional governments. While the Kurdistan Region commits to specific oil quotas, Baghdad is mandated to fulfill its financial commitments, ensuring that Kurdistan receives its allocated budget entitlements. This aims to establish stability and transparency in the oil revenue-sharing process, reducing long-standing disputes.
Political Stability: The successful negotiation and passage of this amendment demonstrate a commitment to cooperation between Baghdad and Erbil. This collaboration can lead to greater political stability, which is crucial for attracting foreign investment, improving security, and fostering a more predictable environment for economic development.
In summary and again all IMO, the amendment’s approval is a positive development for Iraqi citizens, promising economic growth, improved public services, and enhanced political cohesion.
***********
Clare:Erbil and Baghdad reach a “final agreement” on employee salaries
2/3/2025
The Ministry of Finance in the Kurdistan Regional Government announced, on Monday evening, that it had reached a final agreement with the federal government to resolve the issue of salaries of the region’s employees.
The ministry stated in a statement received by Shafaq News Agency, “After 15 days of continuous work between the technical delegations of the Ministry of Finance in the Kurdistan Region and the Ministry of Finance in the federal government to solve technical problems, implement requests, and prepare tables for the list of salaries of employees, retirees, military personnel, and security forces in Kurdistan, a final agreement was reached on employee salaries for the year 2025.”
She added, “Meanwhile, in a meeting held today, Monday, in the Iraqi Economic Council building, a delegation from the Kurdistan Regional Government met, headed by the Minister of Finance and Economy, Awat Sheikh Janab, and attended by the Chief of Staff of the Council of Ministers in the Kurdistan Region, Omed Sabah.”
She continued, “The Kurdistan Regional Government delegation thanked the Iraqi Prime Minister, Mohammed Shia al-Sudani, the Deputy Prime Minister, Fuad Hussein, the Head of the Kurdistan Regional Government’s Representation in Baghdad, Khalida Hadi Shawshli, and the Minister of Finance in the Federal Government, Taif Sami, for their efforts, assistance, coordination and support to reach an agreement on the dues of the Kurdistan Regional Government employees.”
The ministry indicated that “on the other hand, the Kurdistan Regional Government delegation thanked the Presidency of the Iraqi Council of Representatives and the various blocs in the Iraqi Council of Representatives for their cooperation and support for approving the budget amendment, especially the items related to oil exports.”
The ministry confirmed that “the technical teams of the Ministry of Finance in the Kurdistan Region are completing the procedures for sending the salaries for the month of January 2025, and it is expected that the amounts will be deposited into the bank account of the Ministry of Finance.”
It is noteworthy that the negotiating delegation of the Kurdistan Region confirmed in all meetings its readiness to continue implementing the obligations that fall on the shoulders of the Kurdistan Region, in order to avoid repeating the problems of last year. LINK
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 What did we need for the monetary reform to realize its new exchange rate? …What do we need in order for the new exchange rate to come out? Article quote “Our message at the United Nations is very clear, the message is Iraq is now stable and secure…We wish this country all the best and prosperity and all that is good and beneficiary for this country and the people of this ancient country.” You know darn well they’re about to release a new exchange rate, you want money don’t you? …This is amazing!
Fnu Lnu When a currency is in a basket of currencies, as in IMF / World Bank, a currency can only deviate 2% up or down in a 90 day period. Go to the website and look it up. Plus, it has been stated in plain English, numerous times, by the CBI, that the old and new currency will coexist for 10 years. When the Dinar goes on the FOREX, you can exchange at any time you wish, wait as long as you wish, until the currency you hold is cancelled…which will be 10 / TEN / Diez…YEARS …Capice’?
The US Dollar has NEVER been in more danger of Collapse – here’s why
The Jay Martin Show: 2-3-2025
Jay Martin hosts a panel at the VRIC 2025 with Danielle DiMartino Booth, Mark Moss, and David Rosenberg on capital allocation in 2025. They discuss consumer pressure, expected Fed rate cuts, government deficit spending, and geopolitical risks. Moss sees short-term volatility but a bullish long-term outlook, while Rosenberg warns of economic uncertainty and Trump’s proposed Canada tariffs. The panel emphasizes defensive investments, commodities, and Bitcoin in a shifting monetary landscape.
0:00 – Intro
5:26 – Market Liquidity and Risks in Q1 2025
9:00 – Economic Uncertainty and Fiscal Stimulus
15:23 – Impact of Potential U.S. Tariffs on Canada
21:12 – Trump’s Economic Policies and Market Impact
24:07 – Defensive Investment Strategies for 2025
25:48 – Portfolio Allocation: Offense vs. Defense
https://www.youtube-nocookie.com/embed/hqA77hn1Gx8?feature=oembed&enablejsapi=1
