mally2

It’s interesting that he’s doing these both on the same trip. Saudi (Sunni) and Iran (Shiite) cooperation with regional currency incoming?

What is Sadr doing?

I mean, I hope youre right but them being very clear on them needing the hcl is an lol for anyone that has been following this for several years. They say one thing and then turn around and do anything they can to keep the status quo of selling oil out the back door. You really think Barzani wants an hcl passed? Im hoping the federal court has teeth on this but as always Im skeptical yet optimistic.

Interesting. Hard for me to decipher the arabish but anyone seeing confirmation Iran is changing their rate? An Iraqi article now alluding to it as well? Should be big news

There are close meetings in Baghdad, which will be after the blessed Eid Al-Fitr, sounds good, one more week of Ramadan then maybe some action?

I don’t disagree on frank but Brent crude is around 118 as I type this? Could continue to rocket up with more and bigger war, or could drop some with announcement of Iranian oil entering more markets.

Because its not like that at all. The mid-east has been chopped up and country lines redrawn many times. Iran is a shiite dominated country and Iraq is one of the only other shiite majority countries in the mideast. Many muslims consider themselves of their religious tribe well before any kind of patriotic tribe. Like it or not Iran and Iraq will be connected in some way as long as Islam is alive and well.

Nice article. Yes Iraq, lets see the new economy asap.

Appreciate the highlights!

News of the day! I like that last paragraph they threw in.

It’s less now, this is from article yesterday on previous page. The Iraqi government intends to pay the last batch of compensation for the Kuwait war, before the end of this year, after depositing, the day before yesterday (Tuesday), more than 207 million US dollars, in the compensation account with the US Federal Reserve, to end the compensation file completely.

As anyone who has been on this ride for several years can attest, we've all thought this was it before. Im feeling that again, great news in this article and thread. Thx Yota

Saudi riyal is 1/100 currency. Iraqi dinar is 1/1000 currency. One unit of a riyal is a qirsh 1/100, one unit of a dinar is a fil 1/1000. I'd think the plan involves a dinar worth quite a bit more than the riyal but theres various ways to get there, hoping for the best.

The leader of the Sadrist movement pledged that "from now on, the government or the parties will not have control over the money and bounties, but rather it is for the people, and the people's oil is for the people, and we will work to raise the level of the Iraqi dinar to be in the ranks of global currencies gradually."

This is just my opinion. This is not the HCL, that is a stand alone piece of legislation but if and when we ever see the hcl it involves profit sharing for all Iraqi citizens to get paid based on oil sales. Just like all people in Alaska get a small check for oil sales. IMO this law is more closely related to and linked to the hcl than the budget law which gets celebrated as being the hcl dozens of times a year in dinarland every time a new one is negotiated and worked on. This law reads to me like they are getting things in order to profit share with the citizens from oil sales...thus we might be close to them legislating the hydrocarbon law. I believe this can will continue to be kicked until we see reforms involving their currency.

Sounds good, thx yota. All part of the hcl sharing the oil revenues. Seems to me currency reform will take place before or around the same time.

Has anyone seen a date for this Arab summit coming up? I’ve only skimmed the articles and seen ‘By Months end’? Might be a good time for announcements ?

Good article, thanks!

Interesting to emphasize this now. Maybe a change in the dinar status to being more internationally convertible would cause concerns about their liabilities and legal protections.

Even after a decade plus of reading the Iraqi news I cant recall if this is normal. From what I can tell from google this holiday is technically only Monday and Tuesday next week so why are they shutting down for the whole week?

The mere fact that they used a unit of 1000 fils still for the new Iraqi currency vs a denomination unit of 100 like the Saudis despite the fact that the new dinar was going to be worth a fraction of a penny tells you the long term plan is to have it worth well over a buck again some day. Doesn't mean our current denominations will be but thats where the "speculation" aspect comes in.

Yota and Luigi, our hard hitting news hounds 😆

I agree that’s the usual song and dance up through them passing a budget but I don’t remember these negotiations after passing a budget? Maybe I’m remembering wrong, thought they usually went to their corners post budget vote and waited a couple months for each side to claim breach in deal. Seems to me this is a break in pattern but I’m not seeing why? Hoping these white paper reforms have something to do with it.

If we can't trust Jamal Cougar who can we trust?

Good morning. What happens on the 29th?