KTFA – More News, Rumors and Opinions Monday PM 5-20-2024


Clare: The Iraq Fund for Development approves steps to localize industries and attract foreign investments


Today, Monday, Prime Minister Muhammad Shiaa Al-Sudani chaired the third meeting of the Board of Directors of the Iraq Fund for Development, in the presence of the Minister of Finance, and the Ministers of Planning, Construction, Housing, Municipalities, and Public Works.

The meeting discussed, according to a statement by Al-Sudani’s office, a copy of which {Al-Furat News} received, “in the projects placed on the Fund’s work plan, the introduction of foreign investments into the Iraqi economy, and within the course of work of the Fund’s projects and targeting the localization of various industries in Iraq, requests submitted by private sector entities were discussed for the purpose of Construction of school buildings, as requests exceeded what was offered for the project in its first phase.”

He added, “The meeting also discussed a project to establish a factory for manufacturing passenger buses, in partnership with one of the specialized international companies, and also discussed a request to establish a factory for electronic tablet computers and use them in schools within the educational and pedagogical process.”

The statement indicated that “the meeting discussed the issue of partnerships with American, British and Saudi companies in the fields of modern irrigation technologies and the use of technology in this context, as well as in the field of liquefying industrial gases and lighting roads and bridges.”

The meeting also witnessed setting dates for launching the “Rent and Own” project, for the purpose of contributing to developing practical and economic solutions to the housing crisis. LINK


Clare:  Planning discusses with the World Bank ways to enhance cooperation and finance the Development Road Project


Today, Monday, the Ministry of Planning held a meeting with representatives of the World Bank to enhance cooperation and activate partnership in various fields, including the emergency loan and finding financing for the development road project.

The Ministry of Planning stated in a statement, “The meeting, which was chaired by the Undersecretary for Technical Affairs, Maher Hammad Johan, witnessed a discussion of the restructuring of the Social Fund for Development loan and the mechanism for extending it, as well as a discussion of government reform paths, priorities, and government directions in this regard, which included a number of axes, including economic and financial reform, “Restructuring the banking sector and reforming institutions in general.”

She added: “The meeting also discussed the axes of the five-year national development plan for the years (2024-2028), focusing on a number of its main axes and the mechanism of cooperation and coordination with the World Bank in order to work on them to achieve comprehensive and equitable growth, as well as working to intensify efforts to improve performance.” Activating partnership in various fields, while continuing to provide support to the Iraqi government.”

The meeting also included discussing possible options for restructuring for the purpose of providing financing for the Development Road Project due to its importance to the Iraqi government and achieving its development goals, and working to find joint financing for it.

The meeting was attended by the Regional Director for the Middle East at the World Bank, Jean-Christophe, the Regional Director for Equitable Growth, Finance and Institutions for the Middle East and North Africa at the World Bank, Nader Muhammad and their accompanying delegation, the Director General of the Financial and Economic Policies Department, Sabah Jundi Mansour, and a number of employees of the relevant departments in the Ministry. LINK


Courtesy of Dinar Guru:  https://www.dinarguru.com/

Militia Man  The budget doesn’t work at 1300 to 1 or 1310 or even 1320.  It’s doesn’t work at 1160 for crying out loud let alone 1460.  Why is it going to work today It’s not.

Pimpy   Article: “Floating the Iraqi dinar.  A solution to fill a ‘gap’ whose volatile price against the dollar”  If the Iraq dinar floats and for whatever reason a lot of people start investing into the currency and it drives the exchange rate up, if it gets anywhere near $0.25 and higher for me, I’m out of there!  Seriously, I will sell my currency…The cool thing about this is there’s no talk about a redenomination.  So are they actually going to float this currency with the zeros on there and take the risk that sucker is going to jump up really high in the exchange rate?  …Keep an eye on that sucker, watch the exchange rate, if it gets anywhere near where you want to sell it, then jump all over it.  I wouldn’t procrastinate or gamble with it.

BRICS to Open a Central Bank Iraqs Relationship to BRICS Exchange Rate Up

Edu Matrix:  5-20-2024

BRICS to Open a Central Bank Iraq’s Relationship to BRICS Exchange Rate Up

There is no doubt BRICS would like for a country like Iraq to join.

Iraq is not only US dollars rich, but also oil rich. A BRICS Central Bank changes the global line-up.



Greg Mannarino:  5-20-2024