Intel Guru Bruce
[via WiserNow] The HCL (Hydrocarbon Law), which is the oil and gas law, has been passed and the government of Iraq will soon begin distributing payments to its citizens from their share of the proceeds. I believe this distribution may occur this month or in October, but I am not certain about the exact date. Regardless, the agreement has been reached and the citizens of Iraq can expect to receive their portion soon.
Intel Guru Frank26
“I’m not familiar with HCL. Can you explain it to me?” If you reside in Alaska or Texas, you are entitled to receive mineral and oil royalties as you live on that land. As a citizen of that state, the government owes you this royalty. Similarly, Iraqi citizens own vast oil reserves and can sell them through a Hydro-carbon Law, allowing them to claim their rights.
Intel Guru MarkZ
[via PDK] Member Comment: I hope this is our final week of waiting. MarkZ said things are looking positive.
Newshound Guru Kaperoni
Guru Frank26 believes that the revaluation of Iraq’s currency by the central bank is necessary before they can pass a hydrocarbon law. However, the country needs to diversify its economy to strengthen the dinar.
Newshound Guru Sandy Ingram
The Prime Minister of Iraq recently announced a new road project with Turkey that is anticipated to boost the country’s Gross Domestic Product (GDP). Typically, an increase in GDP can lead to a rise in currency value.
Newshound Guru Pimpy
Regarding the Vietnamese dong, it was recently reported that they are struggling to recover from the effects of a strong US dollar. In an effort to maintain their current exchange rate, they have been selling off their reserve currencies. It is important to note that any time the US raises their interest rates, it can have a negative impact on currencies globally, resulting in the US dollar becoming stronger and other currencies, such as the Vietnamese dong, becoming weaker.
Intel Guru yada
In New York, the meeting with the PM is essentially a gathering to promote Iraq as open for business. Citibank and JP Morgan will handle digital transactions.
Newshound/Intel Guru Walkingstick
[Iraqi Banking friend Aki update] On Monday and Tuesday, there were meetings between CBI and private banks discussing the ATMs. They referred to it as ‘new currency’ and never mentioned ‘lower denoms’ or LDs. This indicates that they were referring to lower denominations rather than the old 3-zero notes. When citizens see this, they will understand what the CBI is referring to.
Intel Guru MarkZ
[via PDK] A parliamentarian in Iraq has stated that disagreements between Baghdad and Erbil are hindering the implementation of the Oil and Gas law. Similar reports were heard from Kuwait prior to their recent RV. Experts have advised keeping an eye on this development as it may be the final trigger needed before an RV is seen. It is believed that progress is being made, although there are likely intentional leaks to keep the public unaware of whether the matter has been resolved already.
Newshound Guru Militia Man
JP Morgan and Citi Bank are seeking to improve liquidity by collaborating with the US Treasury and the Central Bank of Iraq. An article cites US Under Secretary Nelson’s praise for government reforms in the banking and financial sectors, which have restored confidence in global financial institutions. The cooperation between JP Morgan, the US Treasury and the Central Bank of Iraq aims to facilitate financial liquidity and commercial bank transfers outside Iraq. It’s a significant development!
Intel Guru Frank26
Sudani visited the United Nations and quoted an article that suggested he could resolve his country’s longstanding issues. Are you referring to the ongoing sanctions program, which has been a persistent challenge for a long time?
Newshound/Intel Guru Mnt Goat
Article: Why would a foreign country want to invest in Iraq if they were not truly stable and ready to reinstate back on FOREX? The signs are all around us… It seems that Austria sees opportunity as Iraq returns to stability.
Intel Guru MarkZ
[via PDK] Sudani’s initial address at the UN focused mainly on military and security matters in the region. It has been reported that he will be speaking again on Friday and addressing the UN before returning home. There is much speculation that he may announce a currency exchange rate or that their currency will be going international during this speech. Let’s hope and pray that this happens.
