KTFA – More News, Rumors and Opinions Wednesday Evening 5-1-2024

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ClareEconomist reassures: Financial liquidity is available and there are no risks to the Iraqi dinar

5/1/2024   Baghdad,

Economic affairs expert Safwan Qusay confirmed that financial liquidity is available and there are no high risks regarding the existence of the Iraqi dinar.

Qusay said, in a televised interview followed by Mawazine News, that “oil revenues rose during the first three months of this year, and this is thanks to the current government’s policy and with Muhammad Shiaa Al-Sudani personally supervising this success.”
He added, “Iraq currently embraces more than 600 investment projects, including the Baghdad Metro.”

He pointed out, “Iraq has completed all its financial needs, and the rest of it needs the price of a barrel of oil to reach only $96 to cover the financial deficit.”

He pointed out that “there should be rationalization and advice in local financial consumption.” LINK

Clare: Al-Sudani: Service projects in Iraq “will not stop”

5/1/2024

 Al-Sudani congratulated the workers on their International Day, 

“We extend our warmest congratulations and best wishes to the workers in Iraq and the world on the anniversary of their most important day.”

He added: “We affirm our commitment to all Iraqi workers, men and women, to provide a work environment that preserves their dignity and guarantees their material and moral rights because they represent a supreme value in our country, where service, reconstruction and development projects have begun and will not stop with the help of the Almighty God.”  LINK

DeepWoodz:  To the citizens again. The theme is clear, it’s down to helping them. Their dignity. Their national pride. 

You know what Frank mentioned yesterday is the biggest symbol of national pride. A new national currency that you can carry enough in your wallet to be able to take your family out to dinner. Buy groceries. Etc…

Sounds like a day of announcements is on the agenda. Or at least to me, it has that feeling about it…

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Clare:  An economic expert for NINA: The World Bank’s expectations that Iraq will achieve a high growth rate are “positive expectations”…and several factors that will contribute to it.

5/1/2024

Economic affairs expert, Raad Tawij, confirmed that the World Bank’s expectations that Iraq will achieve a high growth rate are positive expectations, indicating that there are several factors that will contribute to Iraq achieving this rank.

Twig said in a statement to the National Iraqi News Agency ( NINA ): “The Iraqi economy has gone through varying rates of economic growth. In some years, the growth rate was negative and to a large degree, but in most years the growth rates were positive, and there is an expectation that the Iraqi economy will achieve a growth rate.” It reaches 6% and is at the forefront of the Arab countries.

He stressed that one of the most important factors that will contribute to Iraq being at the forefront of the Arab countries and help in this high rate of GDP is the rise in oil prices to approximately 90 dollars and a daily production rate of five million barrels per day in light of international reserves. Approximately 112 billion dollars, in light of digital transformation, financial inclusion, and advanced electronic payment compared to the countries of the region.

He pointed out that it is possible to benefit from the high rate of economic growth, with the progress made in combating money laundering, provided that this is conditional upon carrying out economic reform, controlling government finances, and working towards achieving it. Financial sustainability for all generations, working to diversify sources of national income, getting rid of rentierism, reviving productive sectors in the Iraqi economy, and benefiting from the Iraq Fund for Development and expanding its role.   LINK

DeepWoodz:  This sounds like reasons out of the KTFA handbook on why they can change the rate. 

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

Walkingstick and Frank26   [Iraq boots-on-the-ground report]  FIREFLY:  Alaq the CBI governor is on the television and he’s talking about the banks and the financial inclusion.  They are saying to us that there are changes coming…Iraq has just given us Identity Program.  This will be launched next Thursday on the 6th…They called them Unified National Cards.  WALKINGSTICK:  Those are nothing more but identification cards because you’re going to be needed them when you go into the bank to get your new currency.  

Mnt Goat    …What will May bring us investors? I have to tell you that April’s news was amazing and I don’t know how the news can top last month except maybe give us what we are looking for. Am I saying its going to RV in May? Of course not…no one knows the date of this event…Does it seem that we are very close? Yes, it seems this is just around the bend and the finish line is in our sights. …there is a huge glimmer of hope we could see the RV very soon.

KNOCKOUT: China’s BOLD Move Threatens To Dethrone The US In Europe’s Economy

Sean Foo:  5-1-2024

In a bold move, China is moving fast to court the EU economy away from the US. President will be visiting France, Serbia and Hungary to show Europe there are big benefits in partnering and trading with China.

More importantly, building China’s trade allows them to secure their economy against US economic sanctions.

Here’s what you must know!

Timestamps & Chapters:

0:00 China’s EU Charm Offensive

3:11 EU Needs The Chinese Market

6:20 China Economy Strengthens Further

8:54 France & Hungary To Win Big

11:52 China’s Big Agenda