The beginning of “drying up” liquidity from the hands of the Iraqis.. The destruction of “surplus” currency and deposits in banks are the highest historically
The video for this blog post is below:
In a special review conducted by Al-Sumaria News, it becomes clear that the currency printed or issued in Iraq until February 2024 is the lowest in 8 months, that is, since May 2023, as the currency printed in Iraq reached 99.2 trillion dinars, and the highest historical level reached by the printed currency was recorded. In November 2023, it amounted to 102.6 trillion dinars.
This approach represents getting rid of the currency and not only stopping its printing, but also “destroying it.” This matter does not seem “absurd,” but rather it is an approach committed by Iraq to reform liquidity management and with recommendations from the International Monetary Fund, which, in its statement last February, praised “ Efforts made by the Central Bank of Iraq aimed at getting rid of excess liquidity!
While the currency printed until February 2024 is the lowest in 8 months, there is a “historical” record corresponding to it, as the data reviewed by Al-Sumaria News show that until January 2024, the currency in banks amounted to 9.1 trillion dinars, and this number is the highest ever in history. Banks after it ranged between 6, 7 and 8 trillion over the past months and years.
The expected effects of this trend are not known, but specialists believe that the data will continue in one direction, which is to reduce printed cash and liquidity, and the banks’ attempt to hold on to liquidity and not leave it in the hands of citizens, and all of these indicators will ultimately lead to reducing inflation in general and reducing the “enormous” purchasing power of groups. Great Iraqi.
Advisor to the Prime Minister: The World Bank provides support to the Iraqi economy
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Wednesday, that the World Bank plays a positive and supportive role for the Iraqi economy, and its team in Baghdad represents the advisory arm for the government program.
Saleh said to the Iraqi News Agency (INA): “The World Bank Group in Iraq launched its new relationship with our country in accordance with what was stipulated in UN Security Council Resolution 1483 in May 2003, and it is undertaking the task of mobilizing financial and technical assistance to support Iraq’s efforts to restore confidence in the economy, build its foundations, and mitigate... of its debt burdens in concert with the International Monetary Fund.
He added, "After years of wars and conflicts that affected the country's infrastructure since the 1980s and Iraq's severance and isolation from the world and multilateral international organizations, the bank contributed by taking its active role after the year 2003, especially in managing a number of development financing funds for the benefit of our country's economy."
He continued, "This was done by managing the funds provided by donor countries to Iraq under the Madrid Donors Conference held in October 2003, or by contributing to supporting the private sector through the role assumed by the International Finance Agency (IFC) as one of the arms of the World Bank Group active with the private sector." As well as through the Bank’s role in supporting some aspects of development and facilitating ways of stabilizing our economy, including providing soft loans provided by the World Bank to support the national economy on various occasions during the last twenty years, specifically during the dual financial and security crisis to confront the ISIS terrorist gangs and the decline in oil prices after... The year 2014.”
He added, "The World Bank also played a role in improving the governance of economic life and rebuilding the requirements of a more powerful and modern digital and development era for the benefit of our country in many areas, in addition to contributing to rebuilding livelihoods by enabling social welfare programs and providing them with plans and programs that address issues of combating poverty."
He pointed out, "The World Bank works closely with international partners to support economic reforms, specifically in the financial, banking, and public finance sectors."
Saleh continued, “The World Bank today is not only a financing institution, but rather a bank that provides knowledge and its tools based on its accumulated experience that has reached nearly eighty years. Since its founding in 1945, Iraq was at the forefront of the founding countries of the World Bank Group and the International Monetary Fund, and this is how the bank is viewed.” The International Bank is currently considered an “information and knowledge bank.”
He continued, "The World Bank team working in Iraq serves as the advisory arm for the current government program, and the reform foundations currently adopted in the government of Prime Minister Muhammad Shiaa Al-Sudani, specifically in the field of reform, whether in governance and reform of public sector institutions, market institutions, and government financing systems in accordance with best practices." International, pointing out that “such cooperation appears in the positive bilateral relations existing between the World Bank Group and the relevant sectoral ministries, such as the Ministries of Finance and Planning, as well as the Ministries of Agriculture and Industry, and relevant market organizations.”
Representatives: The budget schedule and the presidency of Parliament will be decided after Eid Al-Fitr
A number of members of the House of Representatives confirmed, today, Thursday, that there is a serious move to resolve the crisis of electing a new Speaker of Parliament after the Eid al-Fitr holiday, while they confirmed that there are no signs of changing the election law.
The representative of the Progress Party, Yahya Al-Ithawi, said in a statement to the program “Under Two Lines” broadcast by Al-Iraqiya News and followed by the Iraqi News Agency (INA), that “the presidency of the House of Representatives belongs to the Sunni component, and it belongs to a party that advanced due to its results in the elections and political agreements, but there are some blocs.” "You are trying to jump on political entitlements."
He added, "Delaying the election of the House of Representatives will put us in front of new labyrinths and paralyze Parliament," calling for "accelerating the election of a new Speaker of Parliament."
He pointed out that "there is talk among the political forces about changing the election law, but it has not been seriously presented in Parliament, and there are no signs of that," stressing that "the Taqadum Party has no intention of changing the election law."
Meanwhile, the representative of the Sadiqoun Movement, Uday Awad, said in a statement to the “Under Two Lines” program, “The maze that we entered into was caused by the dispute over the decision of the position of Speaker of Parliament, even though it is an issue specific to the Sunni component, so we hope that there will be consensus after the Eid al-Fitr holiday.”
Awad spoke about the budget tables, saying: “The tripartite budget tables will reach the House of Representatives after Eid Al-Fitr.”
Independent MP Adnan Al-Jabri, in a statement to “Taht Khatin”, spoke about the provincial council elections, saying: “The government succeeded in holding the provincial council elections,” indicating that “these elections clarified the features of the upcoming alliances.”
Regarding the presidency of Parliament, he explained that “all Shiite political forces have decided the issue of the presidency of Parliament, so the Sunni component must expedite agreement on a candidate for the presidency of Parliament.”
The head of the Ataa Movement, Khaled Kabayan, confirmed in a statement to “Tahhat Khatin” that “the government succeeded in holding the governorate council elections, and there are secret understandings about the presidency of Parliament, but so far they have not been decided,” hoping for an expedited resolution of this issue after Eid al-Fitr.
When will Iraq get rid of the restrictions of “Uncle Sam”.. Washington shackles Iraq to the federation and a “BRICS” bomb is coming
Popular and political calls are escalating to end the American hegemony it imposes on the Iraqi economy by enforcing the deposit of funds from the sale of crude oil in the Federal Bank on the one hand, and continuing the dollar crisis through sanctions issued on banks, which have reached more than 30 banks.
The first stage of getting rid of the restrictions imposed on Iraq is to strive to achieve two basic points, the first of which is to end the deposit of money in the Federal Bank and send it directly to the Central Bank. The second is to seek to join the BRICS countries that will issue a currency that will be like an atomic bomb for Uncle Sam’s currency. .
*Editing step!
Speaking about this file, a member of the Al-Fatah Alliance, Ali Hussein, calls on the government to seek alternatives and take the step of liberating the country from the dominance of the dollar and the continuing American sanctions, while stressing that Iraq’s move towards lifting the restrictions of the US Federal Bank is a must.
Hussein said in an interview with the Maalouma Agency, “It will be a bold step, but it will succeed if the atmosphere is created and contracts are made with alternative international banks,” noting that “it is necessary to bring in companies from international countries that do not deal in the US dollar.”
He continues, "Entering into the Shanghai system and other global organizations will be the first stage of liberation from the dollar," adding that "the movement to end the dollar's hegemony over the world, led by major countries, has greatly succeeded."
He adds, "Contracting from companies from Eastern countries and bringing them to work inside Iraq will avoid the economic blockade," pointing out that "the government is required to seek to find alternatives and take the step of liberating the country from the dominance of the dollar and American sanctions."
The economic expert, Nasser Al-Kanani, confirmed that the number of Iraqi banks affected by US sanctions has reached 26 banks so far.
*End American hegemony!
In addition, a member of the Nebna Alliance, Ali Al-Zubaidi, confirms that ending American economic hegemony lies in the government’s move towards ending the deposit of oil selling money in the Federal Bank, adding that it will enable the government to choose the currency in which it is sold.
Al-Zubaidi said in an interview with the Maalouma Agency, “Freedom from the restrictions of the dollar will give confidence to the Iraqi currency, in addition to tighter control over the economic movement,” noting that “the main problem is imposing the deposit of oil money in the American bank.”
He continues, "The number of members of the BRICS system has reached approximately 30 countries, and this constitutes a threat to the US dollar in itself," pointing out that "its new currency will be circulated in all these countries that constitute a large part of the global economy."
Al-Zubaidi concluded his speech: “Washington’s hegemony will not last long in light of the global estimates of economists,” noting that “the end of American economic hegemony lies in the government’s move towards ending the deposit of funds for selling crude oil in the Federal Bank.”
The United States of America continues to impose its influence on Iraq in many vital files, including depositing the money from the sale of Iraqi oil in the US Federal Bank, amid clear blackmail by passing many files, most notably the dollar bill, which puts great pressure on the government.
Challenges of visiting Washington: Al-Sudani faces pressure from an American Kurdish lobby
Political tensions and pressures are increasing in Iraq, as reports indicate intense activity by a Kurdish lobby in Washington, aiming to influence the federal government in Baghdad.
This lobby enjoys funding from the Kurdistan Regional Government, and seeks to use American influence to pressure the Iraqi government regarding outstanding issues, including the issues of salaries and oil.
The visit of Iraqi Prime Minister Muhammad al-Sudani to Washington raises new tensions, as the Kurdish lobby is trying to exploit this visit to its advantage, while al-Sudani is trying to strengthen its external support to strengthen its authority at home.
As pressure mounts, Sudan's government faces significant challenges, including confronting alliances allied with Iran and the potential for military escalation against US forces in Iraq.
Messages from within the US Congress raise serious concern about the invitation of US President Joe Biden to host the Iraqi Prime Minister, Muhammad Shiaa Al-Sudani, as US officials accuse the Sudanese government of being under the influence of Iranian influence.
In general, the relationship between the United States and the Iraqi Kurdistan region is strong and complex. While there are some points of tension, the United States remains an important supporter of the region. The relationship is likely to continue to develop in the coming years.
The relationship between the Iraqi government and the Iraqi Kurdistan region is characterized by tensions, and this affects the relationship between the United States and the Iraqi Kurdistan region. Iran also considers the Iraqi Kurdistan region an area of influence, and may seek to undermine relations between the United States and the region.
The United States invests heavily in the oil and gas sector in the Kurdistan region of Iraq, as these interests play a role in the relationship between the two countries.
Finance announces the launch of a new issue of government bonds for public subscription
● Version details:
Bond type: Government bonds denominated in Iraqi dinars.
● Categories offered:
- A bond denomination of (500,000) thousand dinars, with a maturity of two years, with an annual interest of 6.5%, paid every six months.
- A bond denomination of (1) million dinars, for a period of 4 years, with an annual interest of 8.5%, paid every six months.
● Subscription date: period from April 15, 2024 to May 15, 2024.
● Subscription method: Purchase applications are submitted to one of the bank branches approved by the Central Bank of Iraq, accompanied by the original identification documents. The bank then sends the application with the purchase amount to the Central Bank via the RTGS electronic payments system on the same day of purchase. In return, the buyer will receive a receipt for the purchase amount he paid until the bond is prepared, and after a period not exceeding a week, the buyer brings the receipt to the same bank to receive the bond.
● We invite all citizens, investors and companies to participate by subscribing to this issue of government bonds.
● The bonds offered are tradable on the Iraq Stock Exchange.
● Advantages of subscribing to government bonds:
Guaranteed return: The government is committed to paying the annual interest and the value of the bond when it matures.
Safe investment: Government bonds are considered one of the safest investments, as investors enjoy the government's guarantee.
Contribution to the development of the national economy: The subscription funds contribute to financing economic development projects and achieving financial stability in the country.
Al-Maliki stresses to the US Ambassador the need to set a timetable for ending the coalition’s missions in Iraq
The head of the State of Law coalition, Nouri al-Maliki, stressed today, Wednesday, the necessity of setting a timetable to end the tasks of the international coalition in Iraq.
Al-Maliki's media office stated that the latter "received the Ambassador of the United States of America to Iraq, Alina Romanowski, and during the meeting, views were exchanged on the developments taking place in the regional and international arenas, and a number of issues and files of common interest."
Al-Maliki pointed out, according to the statement, “the importance of strengthening the relationship with the United States and benefiting from it in various fields,” expressing his hope that “the visit of Prime Minister Muhammad Shia’ al-Sudani will contribute to strengthening the partnership and opening broader horizons for cooperation, as well as activating the strategic framework agreement and determining the duration of cooperation.” Time to end the international coalition's missions in Iraq.
For her part, the American Ambassador renewed her country's support for the stability of Iraq, stressing "the continuation of providing the necessary assistance to the Iraqis within the strategic framework agreement between the two countries."
Gulf countries are exploring investment opportunities in Iraq
In the Green Zone in Baghdad, the finishing touches are being put on the luxurious Rixos Hotel with Qatari funding, highlighting the growing investment interest from the Gulf countries.
The government of Prime Minister, Muhammad Shiaa Al-Sudani, hopes to host leaders of the Gulf states and other delegations from the Middle East in the 470 luxurious rooms and suites of Rixos Baghdad when they arrive to attend the Arab League summit scheduled for next year.
The Iraqi government seeks to attract more investments from the region for an economy damaged by decades of war and unrest. But it benefits from record oil revenues, which helps stimulate demand for consumer goods from a rapidly growing population estimated at at least 43 million.
Iraq, a member of the Organization of the Petroleum Exporting Countries (OPEC), has witnessed relative calm since the defeat of ISIS in 2017, despite the occurrence of sporadic violence, and China, Iran, and Turkey currently represent Iraq's largest trading partners.
Moataz Al-Khayyat, Chairman of the Board of Directors of the Qatari Investment Holding Company, which is behind the Rixos project, said: “This is the right time to invest in Iraq,” pointing to “the Iraqi government’s ability to build huge projects and attract international investors.”
He added, "Iraq enjoys greater security and discipline. He believes that Baghdad will be one of the most important Arab capitals in the next 25 years."
For his part, Mahjoub Al-Zuwairi, Director of the Center for Gulf Studies at Qatar University, said, “Saudi Arabia, Qatar, and the UAE then began strengthening economic relations with Iraq in an attempt to distance Baghdad and bring it closer to the Arab political environment.”
In May 2023, Saudi Arabia said it had allocated three billion dollars to invest in Iraq through the Kingdom’s Public Investment Fund, and later announced a multi-purpose project worth one billion dollars that includes offices, shops, and more than 6,000 housing units.
The Emir of Qatar visited Baghdad in June 2023, where an investment company signed memoranda of understanding worth seven billion dollars to develop two new residential cities, five-star hotels, and deals to manage and operate hospitals.
Abdul Aziz Al Ghurair, Chairman of the Dubai Chamber of Commerce, said, "Iraq is a huge country with great potential, and perhaps they realized there that their biggest and best partner must be from the region."
Exports from Dubai Chamber of Commerce members rose almost 96 percent in the first half of last year.
The Gulf states have also shown increasing interest in the Iraqi energy sector, and last year Qatar acquired a 25 percent stake in a deal worth $27 billion led by the French company Total Energies to develop oil production and capture the gas that Iraq is currently burning, while the Qatari Urbacon Holding Company signed a memorandum of understanding worth $2.5 billion to develop two power plants with a total production capacity of 2,400 megawatts.
Last year, Crescent Petroleum, based in the UAE, signed three 20-year contracts to develop natural gas fields in the southern provinces of Basra and Diyala. Saudi Arabia's ACWA Power Company intends to establish a solar energy farm with a production capacity of 1,000 megawatts.
Iraq is also working to connect its energy network to Kuwait, and in the future to Saudi Arabia.
Benni defines the main point as Washington's economic hegemony
A member of the Nebna Alliance, Ali Al-Zubaidi, confirmed that ending American economic hegemony lies in the government’s move towards ending the deposit of oil selling money in the Federal Bank, adding that it will enable the government to choose the currency in which it is sold.
Al-Zubaidi said in an interview with the Maalouma Agency, “Freedom from the restrictions of the dollar will give confidence to the Iraqi currency, in addition to tighter control over the economic movement,” noting that “the main problem is imposing the deposit of oil money in the American bank.”
He continued, "The number of members of the BRICS system has reached approximately 30 countries, and this constitutes a threat to the US dollar in itself," pointing out that "its new currency will be circulated in all these countries that constitute a large part of the global economy."
Al-Zubaidi concluded his speech: “Washington’s hegemony will not last long in light of the global estimates of economists,” noting that “the end of American economic hegemony lies in the government’s move towards ending the deposit of funds for selling crude oil in the Federal Bank.”
In an interview with the Maalouma Agency, a member of the coordinating framework, Ali Hussein, called on the government to seek to find alternatives and take the step of liberating the country from the dominance of the dollar and the continuing American sanctions, while he stressed that Iraq’s move towards lifting the restrictions of the US Federal Bank is a must.
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The Securities Commission calls on the Central Bank to launch lending initiatives
The Chairman of the Securities Commission, Faisal Al-Haims, called on the Central Bank to launch development initiatives to support the real estate, industry and agriculture sectors.
Al-Haims said in a television interview followed by “Al-Youm Al-Akhbariya” that he “chaired a committee formed by the Prime Minister, to provide solutions to banks that are prohibited from using the dollar in their daily dealings,” indicating that the committee submitted recommendations to the Ministerial Economic Council that include launching development lending initiatives by The Central Bank, and activating the national exchange for banks that are prohibited from using the dollar.”
He added, "The recommendations also included the use of gold and other commodities in settling financial transactions between banks prohibited from using the dollar and foreign banks."
The Sudanese directs to reject any delay or delay in the development road project.. and an Iraqi delegation visits Europe
Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani chaired the sixth meeting of the Supreme Committee for the Development Road, during which the latest executive steps were followed up and the procedures related to the project continued to be completed, and ways to resolve controls and instructions related to customs, tax and transit tariffs were discussed, within Project management and operation system.
The meeting also witnessed discussion of the tasks of the diplomatic delegation that will visit the European Union countries, in coordination with the Turkish side, within the route of the stations related to the project. The current position of expropriations related to the route of the road was also reviewed, and ensuring the removal of any technical or legal conflicts from all sections.
During the meeting, the Prime Minister stressed the importance of continuous coordination between the relevant authorities, ministries, relevant formations and governorates, on the path of the road, and that these parties as a whole deal with the development road project as a special priority for the Iraqi economy, and that they work to reduce time, overcome routine obstacles and bypass Obstacles.
Al-Sudani also renewed his previous directives to reject any case of delay or delay, given the exceptional importance posed by the path of development, its pivotal position and its connection to all economic development sectors, and the government’s plans to achieve a comprehensive future economic renaissance.
The meeting also reviewed the progress rates achieved in the Al-Faw Grand Port project, its five berths, and the conformity of the work progress with the implementation schedule.
Trillion figures hit the Iraqi state treasury and expenditures are at the top of expenditures
link
The Future Iraq Center, which specializes in economic affairs, revealed on Thursday that state expenditures from the budget increased significantly during the month of January 2024 compared to last year, while indicating a slight decline in oil revenues.
The center’s director, Manar Al-Obaidi, said in a statement received by Shafaq News Agency, “Government salary expenditures for the month of January 2024 increased by 13.8%, at a rate of four trillion dinars, compared to the same period last year.”
He added, "Social care expenditures for the same month also increased by 20.4%, amounting to 1.8 trillion dinars, and total current expenditures also increased by 20% to reach 6.5 trillion dinars, after they were 5.5 trillion dinars last year."
Al-Obaidi pointed out that “total government expenditures for the month of January 2024 increased by 37% compared to the same period last year, bringing total expenditures to 8.8 trillion dinars, compared to 6.4 trillion dinars.”
He pointed out that "oil revenues decreased by 0.1% compared to January 2023 to reach 10.27 trillion dinars after it was 10.28 trillion dinars," noting that "non-oil revenues rose to reach 1.26 trillion dinars."
Al-Obaidi concluded by saying that “total government revenues in January 2024 rose to 11.5 trillion dinars from 7.7 trillion dinars,” stressing that “the data received were based on the data of the Iraqi Ministry of Finance.”
Adviser to the Prime Minister: Iraq is within the safe range countries in terms of paying foreign debts
Today, Thursday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the reasons for reducing annual allocations to pay off foreign debts, while noting that Iraq is among the countries in the safe range in terms of debt repayment.
Saleh said to the Iraqi News Agency (INA): “According to international standards in calculating the ability of the national economy to bear the burden of external debt, Iraq is among the group of countries in the safe range in terms of the global standard for the ratio of the external debt stock,” indicating that “the gross domestic product According to estimates, it does not exceed 20 percent, while the global measure of the debt-to-GDP ratio allows up to 60 percent.
He explained, “Given Iraq’s regularity in repaying its external debts due annually, of which only approximately 20 billion dollars remain, the annual allocations to pay external debts through the federal general budget allocations have begun to show a clear decline and decrease in the amount of external debts due, and this has been reflected.” This is in the 2024 budget tables regarding allocations for external debt payments, compared to the 2023 budget tables, with a difference of decrease that may exceed a billion dollars.
He added, "This matter is reflected in Iraq's high creditworthiness in repaying its debts to external creditors and its commitment to repayment since the Paris Club Agreement in 2004 until the present. These are annual financial allocation mechanisms whose installments and interest are paid on a regular basis through the annual general budget, and they are decreasing. This means that the external debt gap is heading towards shrinking and then almost disappearing.”
He noted that "the Paris Club Agreement in 2004 dropped more than 100 billion dollars of Iraq's pre-1990 debt after Iraq obtained a discount on its debts at that time, which was 80 percent and more, and only a little of the remnants of those debts remained after it was removed." The remainder of it has been scheduled and is paid annually according to a precise and regular accounting mechanism on the part of Public Finance and the Central Bank of Iraq, and the continuous decrease in its allocations is demonstrated by the amount of the decrease in the annual allocation of external receivables from the debts that must be paid and their waiver annually.”
Al-Maliki's coalition is "concerned" about Sudanese's visit to Washington: a trap to tie him up with some files
Today, Thursday, the State of Law coalition described the Iraqi Prime Minister’s visit to America as a “trap,” while stressing that Al-Sawadni does not have the cards to pressure Washington.
The leader of the coalition, Saad Al-Muttalabi, said in an interview with the Al-Ma’louma Agency, “The Sudanese visit to Washington will be protocol, given that there are current talks regarding the issue of removing all foreign forces from Iraqi territory,” expecting that “this issue will not be discussed during the Prime Minister’s visit.”
He added, "The Sudanese does not have pressure cards on the issue of how to deal with the American side. Rather, Washington will set some conditions that will be imposed on the Sudanese to implement them," pointing out that "America is not interested in the issue of withdrawal from Iraq, in conjunction with the positions in which it is trying to divert attention from... This file."
The leader of the State of Law suggested that “the Sudanese will be tied up during the visit with some policies affecting internal files in Iraq.”
Prime Minister Muhammad Shiaa Al-Sudani is scheduled to visit Washington to meet US President Joe Biden this month, to chart a new bilateral relationship after the departure of US forces from the country.
Al-Sudani informs the framework of the reasons for his visit to Washington
Iraqi Prime Minister Muhammad Shiaa Al-Sudani informed the Shiite coordination framework of the reasons for his visit to Washington, most notably the arrangement of the bilateral relationship between Iraq and the United States, according to what a leader in the framework said on Thursday.
The leader of the framework, Amer Al-Fayez, told Shafaq News Agency that the coordination framework held a meeting yesterday, Wednesday, in the presence of Prime Minister Muhammad Shiaa Al-Sudani, during which the latter’s visit to the United States of America and the file of electing the Speaker of the House of Representatives were discussed.
He added that the Sudanese presented during the meeting the reasons for his visit to Washington, and that the purpose of the visit was to arrange the bilateral relationship between Iraq and the United States after the departure of the coalition forces, as discussions are now taking place between the joint military committees to arrange and discuss the mechanism for the exit of forces from Iraq.
Al-Fayez explained that Iraq is keen, at the same time, to maintain a friendly relationship with the United States, which is in the interest of both countries in the political, economic and security aspects, as well as in the field of training and military expertise.
He stressed that the visit comes for cooperation between Iraq and the United States, and that Al-Sudani will accompany with him during his visit a number of ministers, members of the House of Representatives, and businessmen for the purpose of making this visit a success, and arranging the bilateral relationship between Iraq and the United States.
He stated that during his visit to Washington, Al-Sudani will focus on developing economic relations between Iraq and the United States.
Iraqi Prime Minister Muhammad Shia al-Sudani is scheduled to visit Washington to meet with US President Joe Biden on April 15, in his first visit since assuming office in October 2022.
Topped by the Kuwaiti dinar... Iraq is among the strongest currencies in the world
The strength of a currency is determined based on various factors, including interest rate differences and terms of trade. What will be the strongest currencies in the world in 2024?
The Techopedia website published a classification of the world's strongest currencies against the US dollar, and the site stressed the importance of various economic indicators and geopolitical tensions in determining the currency exchange rate.
Currency strength is the relative purchasing power of the currency compared to other currencies, and the US currency was adopted in the classification as a standard. According to the site, 3 Arab currencies topped the rankings.
Below are the 10 strongest currencies in the world (based on data from March 27, 2024):
Iraq is no where on this list but in their news they added themselves hahaha are they trying to tell their citizens something? hahaha
Links to those to articles
Link to the Executive Order 13303
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